Bitcoin exchange MtGox to start liquidation process

The Korea Herald > Business

[Graphic News] Investment in tax havens rises

The amount of money wired by Korean firms to their special purpose companies in tax havens continues to rise, according to data from the Bank of Korea, Thursday.Financial investments in the form of st...

Updated : 2014.04.24 21:08

ABS issuance sinks 39.2 % in Q1

The issuance of asset-backed securities in South Korea sank 39.2 percent in the first quarter of this year from a year earlier as the state-run mortgage loan agency saw a drop in its financial instrument sale, the financial watchdog said Thursday.A combined 8.1 trillion won ($7.8 billion) ...

Updated : 2014.04.24 20:52

Huawei to build brand to beat smartphone rivals

SHENZHEN ― China’s Huawei Technologies, the world’s second-biggest telecommunications equipment maker, plans to groom its brand to boost its global smartphone sales.“What we need is to build our b...

Updated : 2014.04.24 20:52

‘Chonghaejin Marine dodged taxes for 5 years’

Financial investigators revealed Thursday that Chonghaejin Marine Co. had not paid anything in corporate taxes in the past five years, due to exemptions given to the operator of the Sewol ferry because of previous losses.While a company operating in the red is entitled to some tax exemptio...

Updated : 2014.04.24 20:52

Korea’s economy grows 0.9% in first quarter

The Korean economy grew 0.9 percent in the first quarter from three months earlier as exports of tech and petrochemical products gained ground, the central bank said Thursday.The first-quarter growth ...

Updated : 2014.04.24 20:52

BMW’s first full-electric car arrives in Seoul

By Lee Ji-yoonBMW’s first full-electric model, the i3, made its debut at a low-profile launching event in Seoul on Thursday. As the whole nation was still engulfed in a deep sense of grief over the d...

Updated : 2014.04.24 20:50

Farming households’ debt grows for 2nd straight year in 2013

Debt owed by South Korea’s farming households increased for the second straight year in 2013, a report showed Thursday, suggesting that their livelihoods remain tough.According to the report by Statistics Korea, the average amount of debt of farming households stood at 27.36 million won (...

Updated : 2014.04.24 20:50

Hyundai aims to sell 70,000 subcompact SUVs per year in China

Hyundai Motor, South Korea’s top carmaker, targets annual sales of 70,000 units of its new ix25 subcompact sport utility vehicle in China as it seeks to capitalize on a fast-growing popularity of SUVs in the world’s largest auto market, a company executive said Thursday. Hyundai unveiled...

Updated : 2014.04.24 20:50

SK hynix net soars more than fourfold in Q1

SK hynix, the world’s No. 2 memory chip maker, said Thursday its net profit surged 348.9 percent in the first quarter from a year earlier on the back of improved sales in dynamic random access memory chips.Net profit came to 802.2 billion won ($771.7 million) in the January-March period, ...

Updated : 2014.04.24 20:50

Morgan Stanley warned over unauthorized lending

In the wake of a series of sanctions imposed on foreign banks, Morgan Stanley’s Seoul branch was given a warning for conducting a loan business here without establishing an operating system, financial authorities said Thursday.According to the Financial Supervisory Service, the Seoul bank...

Updated : 2014.04.24 20:49

Hyosung Group seeks ‘socially responsible’ ecosystem

Hyosung Group, one of the biggest conglomerates in the country, has been working to ensure that children share some of the benefits of its business.“We are trying to build an environment where disabl...

Updated : 2014.04.24 20:48

‘Smallest cafe’ campaign creates new premium instant coffee market

The “smallest cafe in the world,” created by Dong Suh Foods, has taken the global coffee market by surprise, proving that there is a place for instant coffee in the world. Dong Suh Foods, the nation...

Updated : 2014.04.24 20:48

KT aims for comeback with new services

KT, Korea’s second-biggest mobile carrier, said it will introduce new marketing programs with the aim of making its various services easier and more convenient to use by consumers.This comes as the c...

Updated : 2014.04.24 20:47

Seoul shares end 0.1% lower on institutional sales

South Korean stocks closed 0.1 percent lower Thursday as institutional investors unloaded local shares, tracking overnight falls in U.S. stock markets, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index declined 2.03 points to 1,9...

Updated : 2014.04.24 20:47

Hyundai Motor's sales rise, earnings fall in Q1

Hyundai Motor, the world's fifth-largest automaker, on said Thursday its net earnings declined 2.9 percent from 2013 to 2.03 trillion won ($1.95 billion) on account of worsening industry conditions at both home and abroad. Sales and operating profit, however, rose 1.3 percent and 3.7 pe...

Updated : 2014.04.24 15:02