ticking sound and pulsing power led in the same rythm -> PSU tries to start up but can't.
replace startup cap (usually 47µF 50V). Or better yet, replace *all* the caps except the 400+V mains filter.
Samsung is notorious for using absolutely crappy Samwha and Sam Young caps throughout the whole PSU to make sure these things (Plasma/LCD TVs and Monitors) fail (somewhat) shortly after the warranty runs out with normal use. They don't have to be bulging on top to be bad (dried up a.k.a. cooked and/or ESR shoots through roof)
Also check for obvious shorts to ground on all the PSU outputs (which would also keep it from starting up)
