Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[Music in drama] Rekindle a love that slipped through your fingers
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Gov’t to spend W30b to boost fashion, lifestyle industries
[THE INVESTOR] The South Korean government will nurture premium fashion and lifestyle brands spending 30 billion won next year, the Ministry of Trade, Industry and Energy announced on July 28. As part of an effort to boost exports of consumption goods, it will double the R&D budget and support the whole process, from design to marketing for export, for seven categories: furniture, bags, kitchenware, stationery, sports and leisure, eyeglasses and watches. To raise added value to fashion and appar
IndustryJuly 28, 2016
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Hyundai Mobis Q2 profit jumps 13% on SUV sales
[THE INVESTOR] Hyundai Mobis on July 28 said that it posted a 13 percent increase in second-quarter operating profit from a year earlier, thanks to favorable currency rates and improved supply to sport utility vehicles. South Korea’s largest automotive parts supplier affiliated with Hyundai Motor Group reported the April-June operating profit of 784.7 billion won (US$696.2 million), compared with the 694.4 billion won from the same period last year. Hyundai Mobis’ Mabuk technical center in Yongi
MobilityJuly 28, 2016
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Samsung pins high hopes on Galaxy Note 7 launch
[THE INVESTOR] Samsung Electronics is pinning high hopes on its upcoming Galaxy Note 7 smartphone with a curved screen that will debut on Aug. 2 in New York, London and Rio de Janeiro. “Like its Galaxy S7 sibling that is receiving positive market reviews, the Galaxy Note 7 will meet market expectations,” a Samsung executive said in the firm’s second-quarter conference call on July 28. Together with its high-end flagship models, the company said its budget smartphones such as the Galaxy A, J and
TechnologyJuly 28, 2016
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Thales to sell stake in Hanwha joint venture
[THE INVESTOR] Thales, the French defense giant, has decided to sell its 50 percent stake in Hanwha Thales, a defense electronics joint venture that Hanwha Group acquired from Samsung Group as part of a 1.9 trillion won (US$1.7 billion) deal in 2014. Thales had long considered selling off the stake since the Samsung-Hanwha deal was announced. According to industry sources, the company saw little benefits from working with the new partner as it had already enjoyed hefty dividends from the venture
IndustryJuly 28, 2016
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Samsung Securities to start trading Taiwanese stocks
[THE INVESTOR] Samsung Securities will launch a brokerage service on Taiwan-listed securities for institutional investors in a partnership with KGI Securities, the second-largest brokerage in Taiwan.According to Samsung Securities, the two companies signed a memorandum of understanding to cooperate on strengthening their brokerage businesses and expanding equity research coverage at KGI Securities’ headquarters in Taiwan on July 28. “Samsung Securities will expand its footprint to the entire Asi
July 28, 2016
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Samsung bets on 10-nanometer chip technology
[THE INVESTOR] Samsung Electronics said in its second-quarter conference call on July 28 that it would for the time being focus on rolling out 10-nanometer semiconductors rather than moving onto still-fledgling 7-nanometer chips. “The 10-nanometer chip production boasts the highest efficiency and is fit for commercialization,” an official from the tech giant said in the conference call held in the morning. Samsung Electronics’ 10-nano class DRAM chips.The company added that it is ready to produc
TechnologyJuly 28, 2016
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Hyundai Motor slips in US ranking
[THE INVESTOR] South Korea’s largest automaker Hyundai Motor slipped down in the US ranking of cars that measures the overall satisfaction of owning and driving cars. Hyundai Motor ranked ninth, down from second last year, among non-premium brands on the J.D. Power’s Automotive Performance, Execution and Layout Study, released on July 27. The result is based on responses from more than 80,000 purchaser and lessees of new vehicles who assessed the performance and design after 90 days of ownership
MobilityJuly 28, 2016
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Gov’t to launch market for startup stakes
[THE INVESTOR] The KRX Startup Market will be established this year to facilitate trading stakes in startups that raise money through crowdfunding, Financial Supervisory Commission Chairman Yim Jong-yong said on July 28. “A dedicated market for trading stakes in companies (which used crowdfunding) will be established to enable (investors) to reclaim their money early,” Yim said at an event marking six months since the introduction of crowdfunding. Since crowdfunding was introduced, 4,445 individ
July 28, 2016
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Samsung Galaxy S7 Edge outsells its flat-screen sibling
[THE INVESTOR] Samsung Electronics said on July 28 that sales of the curved-screen Galaxy S7 Edge made up more than 50 percent of its total flagship S7 sales in the April-June period. The Korean tech giant didn’t reveal the specific sales figure of the S7 phones during the conference call on the day. Industry watchers estimate a combined 270 million S7 and its Edge variant phones have been sold in the first half of this year since their March launch. Running on the upbeat mood, Samsung has also
TechnologyJuly 28, 2016
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Samsung far outpaces Apple in smartphone shipments
[THE INVESTOR] Samsung Electronics said on July 28 it has shipped about 90 million handsets in the April-June period with smartphones making up more than 80 percent of the total. Samsung’s second-quarter smartphone shipments are estimated at about 72 million units, almost doubling its archrival Apple’s iPhone shipments of 40.4 million units during the same period.The Korean tech giant unveiled the sales figure in a conference call after announcing its second-quarter earnings earlier in the day.
TechnologyJuly 28, 2016
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Sales at department stores, discount retailers up in June
South Korea's major department stores and discount chains saw their sales rise in June from a year earlier due to an increase in holidays, government data showed Thursday.The combined sales of three department stores -- Hyundai, Lotte and Shinsegae -- increased 11.8 percent on-year last month, while those of major discount retailers -- E-Mart, Lotte Mart and Home Plus -- edged up 0.9 percent during the same period last year, according to the data compiled by the Ministry of Trade, Industry and E
IndustryJuly 28, 2016
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Korean firms' business sentiment worsens for Aug.
A majority of large South Korean firms expect their business conditions to further deteriorate next month due to weak demands at home and abroad, a survey showed Thursday.The business survey index came to 89.5 for August, down from 90.5 for this month, according to the Federation of Korean Industries.The monthly index is based on a survey of top 600 companies here in terms of sales. A reading below 100 means pessimists outnumber optimists while a reading above the benchmark means the opposite.Th
July 28, 2016
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SKT's bid to take over No. 1 cable TV operator officially terminated
Top mobile carrier SK Telecom Co.'s bid to buy the country's leading cable TV operator was officially terminated following the antitrust watchdog's earlier decision to reject the plan, the science ministry said Thursday.The Ministry of Science, ICT and Future Planning said it reached a decision not to allow SK Telecom's bid to purchase CJ Hellovision Co. from its parent firm CJ O Shopping, officially terminating the evaluation process of what would have been one the country's biggest mergers and
IndustryJuly 28, 2016
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CJ O’Shopping, Baozun to bring Korean goods to Chinese online shoppers
[THE INVESTOR] CJ Group’s shopping network CJ O’Shopping will join hands with China’s Baozun to launch e-commerce solution business in China for South Korean brands, it announced on July 28. The two companies will invest a total of US$6.7 million and establish a joint venture named BCJ (Baozun-CJ E-commerce) next month, set to start operating in September. CJ will own 49 percent stake and its Chinese partner 51 percent stake.CJ O'Shopping president Heo Min-heoiBased on its local platform network
IndustryJuly 28, 2016
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LG Display to benefit from rising panel demand
[THE INVESTOR] Korean panel maker LG Display may continue to show improved results due to increased prices and strong technology demand, a local brokerage house Eugene Investment & Securities said on July 28. “LG Display’s second-quarter earnings have improved boosted by OLED and quickly stabilizing prices, sporting events, increasing sales of newly launched panels and improved demand in China,” said Lee Jung, an analyst at Eugene Investment. LG Display’s 65-inch Curved Ultra HD OLED TV Panel T
July 28, 2016
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Lower grade bonds soar in H1
[THE INVESTOR] The value of unsecured corporate bonds of BBB or lower ratings issued during the first half of the year has nearly doubled from a year ago, Financial Supervisory Service data showed on July 28.According to the data, the value of BBB or lower bonds issued during the period came to just under 1.39 trillion won (US$1.23 billion). In comparison, the figure for the same period last year is 757 billion won. The rise in BBB or lower corporate bonds is thought to have been fueled by the 1
July 28, 2016
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Five Hyundai, Kia cars named segment leaders in U.S. survey
Five vehicle models produced by South Korean automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. have been named best cars by U.S. consumers, the automakers said Thursday.In a survey conducted by J.D. Power and Associates, a U.S. marketing information service firm, the Hyundai Tucson was named the best small SUV, beating the Volkswagen Tiguan and all other competitors in the segment, according to Hyundai.The survey was conducted on those who purchased a new car between Novembe
MobilityJuly 28, 2016
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Corporate bond issuance dips amid financial woes
South Korean firms sharply reduced bond issuance in the first half of 2016, yet another sign of their worsening financial health amid a drawn-out economic slump, a government tally showed Thursday.The value of ordinary corporate bonds issued in the six months totaled 18.9 trillion won ($16.7 billion), down 18.9 percent from a year earlier, according to the Financial Supervisory Service.They preferred gilt-edged bonds. Among non-guaranteed corporate bonds issued during the period, worth 18.87 tri
July 28, 2016
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Naver's Q2 profit soars as mobile ad revenue grows
Naver Corp., South Korea's largest internet portal, said Thursday its second-quarter net profit jumped 71.8 percent from a year earlier, thanks to a solid gain in mobile ad revenue. Naver reported a net profit of 213.2 billion won ($189.2 million) for the April-June quarter, compared with a profit of 124 billion won for the same period last year. Second-quarter operating profit rose 44 percent on year to 272.6 billion won. Sales gained 26.3 percent to 987.2 billion won, the company said in a reg
July 28, 2016
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Smartphone sales boost Samsung's profit to 2-year high
Samsung Electronics Co. reported its biggest quarterly operating profit in more than two years Thursday, boosted by robust sales of its latest premium smartphone and cost-cutting efforts. The world's largest maker of smartphones and semiconductors earned 8.14 trillion won ($7.19 billion) in the April-June period, up 18.06 percent from the same period the year before. Second-quarter net profit rose 1.65 percent on year to 5.84 trillion won. Sales gained 4.94 percent to 50.9 trillion won, Samsung
July 28, 2016