Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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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 to more than double military drones by 2026 to counter NK threats
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Seoul alerts overseas missions to NK terror threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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[EQUITIES] Daishin Securities expects SK hynix’s earnings growth to slow in Q3
[THE INVESTOR] Daishin Securities on July 27 forecast SK hynix will report a slower earnings growth in the third quarter due to a delay in its planned investment in 3-D NAND flash memory.The brokerage put quarterly sales estimates at 4.94 trillion won (US$4.36 billion), with an operating profit of 484 billion won. Daishin also noted that second quarter net profit of 286 billion won missed market estimates by a wide mark, mainly on losses stemming from a stronger Korean currency.The chipmaker’s f
July 27, 2016
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BOK chief: Fiscal policy more important than monetary policy amid low growth
The head of South Korea's central bank on Wednesday stressed the importance of a fiscal and restructuring policy than a monetary one in tackling the country's low growth.Bank of Korea Governor Lee Ju-yeol said in a meeting with lawmakers that South Korea's relatively strong financial status will allow the government to inject some money to support slowing growth and generate jobs.He said an excessive monetary easing policy could lead to an increase of risky assets of financial companies and an e
July 27, 2016
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[EQUITIES] SK Securities forecasts earnings turnaround for Shinsegae Int’l
[THE INVESTOR] SK Securities on July 27 forecast Shinsegae International will swing to the black in the second quarter of this year as it completes the withdrawal of Salomon, a money-losing clothing brand. The brokerage expected operating profit rising 59.1 percent to 5.9 billion won (US$ 51.76 million) and sales increasing 6.1 percent to 240.9 billion on. These figures are higher than the market consensus of 3.4 billion won of operating profit and 237.9 billion won of sales. Shinsegae Internati
July 27, 2016
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Finance minister vows full support for corporate revamp
South Korea's chief economic policymaker said Wednesday that the government will give full support to the industries that are undergoing tough restructuring and workers affected to minimize adverse impact.The South Korea government earlier unveiled a set of stimulus steps, including an 11 trillion won-extra budget, to boost Asia's fourth-largest economy which has been suffering from faltering exports and lukewarm domestic demand.Its economy-boosting measures focused on cushioning fallout from in
July 27, 2016
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Hyundai E&C Q2 net surges 16.4%
South Korean builder Hyundai Engineering & Construction Co. (Hyundai E&C) said Wednesday that its second-quarter earnings jumped over 16 percent from a year earlier despite a slight dip in sales.Net profit came to 167.8 billion won ($147.96 million) in the April-June period, up 16.4 percent from the same period last year, according to the company.Sales slipped 2.7 percent on-year to some 4.69 trillion won, partly due to a delay in major overseas projects.Operating profit climbed 5.5 percent to 2
July 27, 2016
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Korea Kolmar to supply generic CNS treatment to Abbott
[THE INVESTOR] Korea Kolmar has signed an agreement with Abbott Korea for the exclusive supply of drugs, it announced on July 27. It will be a contract manufacturing organization for two treatments for central nerve system disorder, including Aerica capsule that contains the active substance pregabalin. Kolmar Korea’s own lab developed the pharmaceutical preparation and it has been approved to manufacture the drug.The domestic market for pregabalin, known to be effective for reducing central neu
IndustryJuly 27, 2016
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Nexon Japan’s major shareholders are at tax havens: Chaebul.com
[THE INVESTOR] Many of Nexon Japan’s major shareholders were found to be offshore firms located in tax havens, according to data from conglomerate tracker Chaebul.com on July 27. In addition, a local brokerage -- Samsung Securities -- was discovered holding the third-largest stake in the gaming company through an overseas bank account. Nexon Japan is the headquarters of the South Korean gaming company Nexon Group founded by Kim Jung-ju who is currently being questioned for charges of bribery. Ki
CompaniesJuly 27, 2016
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Hyundai BNG Steel CEO facing indictment for chauffeur abuse
[THE INVESTOR] Hyundai BNG Steel CEO Chung Il-sun’s assault case has been transferred to the prosecution, with recommendations to indict him for violating the Labor Standards Act, the Ministry of Employment and Labor said July 27.Chung, who is a grandson of Hyundai Group founder Chung Ju-young, is alleged to have assaulted his chauffeur, and hired a total of 61 chauffers over the course of three years. Hyundai BNG Steel CEO Chung Il-sunHe is also accused of forcing his drivers to work more tha
IndustryJuly 27, 2016
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[EQUITIES] Kakao’s Q2 earnings to miss estimates
[THE INVESTOR] Eugine Investment and Securities on July 27 said that Kakao’s second-quarter earnings would miss estimates as the company’s online-to-offline businesses such as Kakao Driver has yet to gain momentum for profitability. The securities firm predicted the company’s April-July revenue and operating profit at 376.3 billion won (US$331.75 million) and 34.7 billion won, respectively, both missing earlier estimates. The suggested price for Kakao was also adjusted from the previous 170,000
July 27, 2016
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Kia Motors Q2 profit up 18.5% on new car launches
[THE INVESTOR] Kia Motors posted an 18.5 percent increase in second-quarter operating profit, driven by newly launched cars and solid demand in its major markets including the US and Europe. South Korea’s second largest automaker on July 27 reported the April-June operating profit of 770.9 billion won (US$679.20 million), compared with the 650.7 billion won from the same period last year. It is the first time that the company’s operating profit has exceeded the 700 billion-won mark since the sec
MobilityJuly 27, 2016
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Race to lead OLED market heats up
[THE INVESTOR] All eyes are now on who will take the reins in the upcoming era of organic light-emitting diode, which is expected to bring a generational change to mobile devices and the whole IT sector. The smartphone OLED realm has been a stronghold of Samsung Display whose market share reached 97.7 percent in the Jan-March period, according to market research firm IHS.Among the runner-ups in the segment are LG display of South Korea and AUO of Taiwan whose market share stood at 0.9 percent an
TechnologyJuly 27, 2016
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Samsung Electronics widens share lead in U.S. home-appliance market
Samsung Electronics Co. raised its share of the U.S. home-appliance market for the second quarter of this year, widening its lead over competitors, according to a market estimate on Wednesday. Samsung accounted for 16.7 percent of the U.S. market for five major household appliances -- refrigerators, washing machines, ovens, microwave ovens and dishwashers -- for the April-June period, according to the estimate by market researcher TraQline. It marked a 2-percentage-point increase from the previo
July 27, 2016
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Rosy picture for LG Household's Q3 earnings: analysts
[THE INVESTOR] LG Household & Health Care more than met the expectations for its second-quarter earnings and will perform even better in the future, analysts said. Its April-June operating profit hiked 34.1 percent to 225.4 billion won (US$198.78 million) and earnings came in at 1.55 trillion won, rising 18.5 percent from the same period last year, according to Financial Supervisory Service’s data released on July 27.The Q2 figures are the highest ever for the company that also broke record for
IndustryJuly 27, 2016
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Korea to carry out feasibility study on port project in Egypt
South Korea will conduct a feasibility study on redeveloping the historic port city of Alexandria in Egypt, the maritime affairs ministry here said Wednesday.The research will be into the technical feasibility of the development of the Egyptian seaport, along with detailed plans to raise funds, according to the Ministry of Oceans and Fisheries.Alexandria, on the Nile Delta, is one of the oldest seaports in world history, linking trade between the Mediterranean Sea and the Red Sea. Currently, the
IndustryJuly 27, 2016
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Korea's land prices rise 1.25% in H1
South Korea's land prices continued to grow in the first half of the year, government data showed Wednesday, amid a residential building construction boom partly created by a series of government measures aimed at boosting the property market.In the six months ended June 30, land prices gained 1.25 percent from six months earlier, accelerating from a 1.07 percent increase over the same period last year, according to the Ministry of Land, Infrastructure and Transport.The tally marks the steepest
July 27, 2016
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Industrial power consumption growth hits 2-year high in Q2
South Korea's industrial electricity sales in the second quarter grew at the fastest pace in nearly two years on the back of a recovery in the chipmaking and oil refinery sectors, the government said Wednesday.The amount of electricity consumed by the country's industrial sector reached 69.55 billion kilowatt-hours in the April-June period, up 1.6 percent from the same period last year, according to the Ministry of Trade, Industry and Energy.The on-year growth in the second quarter marked the la
IndustryJuly 27, 2016
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Korea, World Bank agree to widen cooperation
South Korea's finance minister on Wednesday held a meeting with the president of the World Bank Group to discuss ways to expand the country's participation in the organization, the ministry here said."It is time to come up with projects to utilize South Korea's experience of economic development and create synergy in the World Bank," Finance Minister Yoo Il-ho said in a meeting with Jim Yong Kim in Seoul.The South Korea-born president has been in Seoul since Monday, following a Group of 20 meeti
July 27, 2016
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LG Display’s Q2 operating profit down 91%
[THE INVESTOR] South Korea’s display maker LG Display saw its operating profit drop 91 percent on-year in the April-June period, due largely to fierce competition in the global display market. The Seoul-headquartered company posted operating profit of 4.4 billion won (US$3.88 million) while its revenue came in at 585 billion won, down 13 percent compared to the same period in 2015.The TV and smartphone displays together account for more than half of the quarterly revenue -- 39 percent and 27 per
Latest NewsJuly 27, 2016
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Nexon founder tops list of stock rich among self-made entrepreneurs
The founder of leading online game maker Nexon Co. is South Korea's richest man among 50 self-made entrepreneurs ranging in age from the 30s to 50s, data showed Wednesday.Kim Jung-ju, the chairman of Nexon's holding firm NXC Corp., holds stock assets worth 2.87 trillion won ($2.5 billion), according to the data compiled by CEOSCORE, a website that tracks conglomerates, financial firms and state-run companies.Kim was summoned by prosecutors for the second time last week over his alleged involveme
CompaniesJuly 27, 2016
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Hanjin Shipping pressed to raise more money to tide over cash shortage
Cash-strapped Hanjin Shipping Co. has come under growing pressure from its creditors to secure more money to tide over a deepening cash shortage, industry sources said Wednesday.According to the sources, Hanjin Shipping, the country's No.1 shipping line, has proposed raising some 400 billion won ($353 million) via stocks sales to its affiliates, but creditors want the shipping firm to jack up the figure to some 700 billion won.Hanjin Shipping needs some 1.2 trillion won over the next 18 months t
IndustryJuly 27, 2016