Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Seoul to promote luxurious side of the city
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Government, new Saenuri leadership meet to renew ties
[THE INVESTOR] The presidential office, the ruling party, and the government met Thursday, seeking to cooperate over economic revitalization and to cement relationships in the new parliamentary term.Key officials of the Saenuri Party, the Cabinet and Cheong Wa Dae met at Prime Minister Hwang Kyo-ahn’s official residence for the first tripartite gathering since the 20th National Assembly kicked off on May 30.From the Blue House, the recently appointed presidential Chief of Staff Lee Won-jong part
July 7, 2016
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Naver chief to meet media ahead of LINE IPO
[THE INVESTOR] Lee Hae-jin, the reclusive leader of Internet giant Naver, will make an appearance at a press meeting on July 15 when the company’s subsidiary and mobile messenger operator LINE goes public in Japan“Naver board chairman Lee will attend a press meeting in Seoul on the same day when LINE is listed on the Tokyo Stock Exchange,” said Kim Hyun-ji, a public relations representative of the firm, adding the exact schedule and place are yet to be finalized. It will be Lee’s first appearanc
TechnologyJuly 7, 2016
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Samsung Electronics launches super-fast UFS card
Samsung Electronics Co., the world's largest memory chip maker, on Thursday rolled out the industry's first removable data storage card that is five times faster than that of the conventional micro SD card.The Universal Flash Storage card with 250 gigabytes of storage can be used in shooting devices such as digital single-lens reflex cameras, action cams, and virtual reality cameras, the South Korean tech giant said. (Samsung)The latest UFS can read a full HD movie file with 5GB in 10 seconds, t
IndustryJuly 7, 2016
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Gov’t promises support to Hanwha Q CELLS in completing plant expansion on time
[THE INVESTOR] The Korean government on July 7 said that it will work with concerned organizations to ensure that Hanwha Q CELLS’ plant expansion project is completed on schedule. Hanwha Q CELLS, Hanwha Group’s solar power generation unit, is currently expanding its plant producing materials for solar panels in Jincheon, North Chungcheong Province. Although the project is due for completion in July 2017, the lack of infrastructure in the area is expected to pose hurdles. The expanded plant requi
IndustryJuly 7, 2016
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Hyosung joins effort to help game start-ups’ China expansion
[THE INVESTOR] Hyosung Group, a South Korean industrial conglomerate, and North Jeolla Province have joined the efforts to help local game start-ups gain a foothold in China. Hyosung Group and four other organizations, including South Jeolla Provincial Office and HN Games, formed a business agreement on July 7 at the Jeonbuk Creative Economy and Innovation Center, the company said. Under the plan, Hyosung plans to invest 1 billion won (US$ 864,650). The company, in partnership with the organizat
TechnologyJuly 7, 2016
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Samsung forecasts best profits in two years on strong Galaxy S7 sales
Samsung Electronics expects to report its best quarterly results in more than two years in the second quarter of this year thanks to the sustained popularity of its flagship Galaxy S7 smartphones, the company said Thursday. The world’s largest smartphone maker by shipments estimated an operating income of 8.1 trillion won ($6.9 billion) for the latest quarter, a 17 percent increase from the 6.9 trillion won posted a year ago. Its revenue is also likely to increase 3 percent year-on-year to aroun
TechnologyJuly 7, 2016
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Components to drive up Samsung’s Q3 profits
[THE INVESTOR] Expectations are high on Samsung Electronics’ third quarter profits after the company released its second-quarter earnings guidance that beat analyst estimates on Thursday. According to its tentative earnings report, the Korean tech giant posted more than 8 trillion won ($7.6 billion) in operating profits and 50 trillion won in sales in the April-June period. Analysts say the company will continue the current momentum in coming months.Despite a modest growth in mobile business t
TechnologyJuly 7, 2016
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Shares spike over 1% on foreign buying, surprise over Samsung’s earnings
Korean stocks closed significantly higher Thursday, clearly rebounding from a dip on the previous day on an earnings surprise from tech giant Samsung Electronics. The local currency also advanced against the U.S. dollar.The benchmark Korea Composite Stock Price Index spiked 20.96 points, or 1.07 percent, to 1,974.08. Trade volume was moderate at 374.6 million shares, worth 3.87 trillion won ($3.35 billion). Gainers outnumbered losers 607 to 208. The sharp rise came one day after foreign investor
July 7, 2016
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Chaebol ‘owners’ control groups with 0.9% shares
The tycoons of Korea’s top 10 family-run conglomerates, or chaebol, control their empire with less than 1 percent of equity stake ownership, but are backed by a record-high level of intragroup shareholdings, the nation’s antitrust agency said Thursday. According to the Fair Trade Commission, “owners” of the country’s top 10 chaebol groups hold an average 0.9 percent of their group’s total shares as of April 1, unchanged from last year, but down from 2.9 percent in 1998. Their relatives currently
July 7, 2016
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KT to nurture 20 start-ups this year
[THE INVESTOR] KT, South Korea’s leading telecommunications company, will pour 2 billion won ($1.7 million) to foster 20 start-ups this year, the company said Thursday. In line with the investment plan, the company held the so-called “speed dating” pitching event, at its headquarters in Seoul on the same day. At the event, start-ups suggest their ideas to attract investment and KT executives choose candidates to receive marketing and financial support on the spot. Among the start-ups selected fo
IndustryJuly 7, 2016
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KDB to invest in mainland Chinese stocks
[THE INVESTOR] The Korea Development Bank, a state-owned policy bank, said on July 7 that it has started investing in China’s onshore stock markets as a renminbi qualified foreign institutional investor. The KDB plans to put some 1 billion yuan of funds into securities and bonds listed on Shanghai and Shenzhen Stock Exchange as well as China’s interbank bond market. The Korea Development Bank“As a policy bank representing Korea, we will play a major role in the financial cooperation between the
July 7, 2016
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NPS selects 7 firms for venture fund
[THE INVESTOR] South Korea’s National Pension Service has named seven private equity firms to run 200 billion won ($172 million) of its funds, the pension giant said on Thursday. The NPS, which oversees $430 billion in assets, hired Aju IB Investment and KTB Network as general manager of the venture fund. Five others including Medici Investment, Seoul Investment Partners, Wonik Investment Partners, Innopolis Partners and G.N.Tech Venture Capital were named as preliminary mangers. “Through the ve
July 7, 2016
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Huawei files new patent suit against Samsung in China
[THE INVESTOR] Chinese tech firm Huawei has filed a complaint at Chinese district courts against South Korean rival Samsung Electronics for breaching its patent for mobile icon and widget designs. The Chinese firm reportedly argued in its complaint filed at the courts in Shenzhen and Quanzhou on July 6 that Samsung used without permission Hauwei’s patent on how to display mobile application icons in a folder and widgets on the smartphone screen.Huawei demanded 80 million Chinese yuan (US$12 mill
TechnologyJuly 7, 2016
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Samsung Heavy workers stage 4-hour strike
[THE INVESTOR] Samsung Heavy Industries workers went on a partial strike on Thursday, to protest the company’s tough restructuring plan. It marked the first time that a troubled South Korean shipbuilder has faced a labor dispute.Earlier this week, the group of workers at the company’s shipyard in Geoje, South Gyeongsang Province, voted to launch the strike for four hours till 5 p.m.Some 5,400 members of the so-called “labor council,” joined the strike. Samsung Heavy, a unit of the country’s top
IndustryJuly 7, 2016
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Samsung, SK hynix to benefit from rise of DRAM prices in Q3
[THE INVESTOR] With prices hitting rock bottom, the global DRAM market has been in the doldrums over the past couple years. According to a market report on Thursday, however, the DRAM market will likely gain steam in the July-September period due to increasing demand in the mobile and server markets. “The downward trend in DRAM prices over the past two years has reversed in June,” said DRAMeXchange in a recent report. It also forecast that the price increase rate would be in the range of betwee
TechnologyJuly 7, 2016
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OLED equipment market for Apple to reach W15tr by 2020
[THE INVESETOR] With Apple’s planned adoption of organic light-emitting diode display for its iPhone next year, the related equipment market is estimated to reach US$13 billion by 2020, a local research firm said July 7. According to UBI Research, orders from Apple alone could make up about 47 percent of the global equipment market for sixth-generation flexible OLED, worth US$28.4 billion for the next five years. Apple’s iPhone 6SThe sixth-generation flexible OLED is increasingly adopted for sma
TechnologyJuly 7, 2016
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Hyundai Motor establishes guidelines for ‘smart leader’
[THE INVESTOR] Hyundai Motor Group announced new leadership measures to push employees to shape the corporate culture that drives innovation, the company said on July 7. Hyundai Motor’s 300 managers and high-level officials gathered at the company’s headquarters in Yangjae-dong, southern Seoul, on July 6 to participate in the seminar titled “Hyundai Motor Work Smart Leadership Seminar.” At the seminar, the company introduced 10 guidelines to become a “smart leader” in the workplace. “Lead the or
MobilityJuly 7, 2016
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AIIB seeks replacement of Hong Kyttack
[THE INVESTOR] The Asian Infrastructure Investment Bank is expected to start searching for a replacement for Hong Kyttack, one of its chief risk officers, as soon as the bank president Jin Liqun returns from an overseas business trip this month. Hong had been serving as chief risk officer for just a few months before he came under fire in Korea for exposing the inadequacy of state-run Korea Development Bank, at which he had previously served as president. AIIB was not available for comment. Ther
July 7, 2016
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Shopping and-K-pop complex planned in Uijeongbu, Korea
[THE INVESTOR] A large entertainment complex that combines shopping, K-pop and children’s entertainment will be built in Uijeongbu, Gyeonggi Province, as part of the government’s investment-boosting drive. According to the plans revealed on July 7, the central government will support Uijeongbu’s plans that will see the construction of a 620,000-square-meter complex in the area just north of Seoul. The project is scheduled for completion in 2018, and 382.4 billion won (US$ 330.8 million) will be
IndustryJuly 7, 2016
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Park urges investment for new growth
South Korean President Park Geun-hye urged her key policymakers and industry executives to come up with deregulatory policies and take risks by investing in technology for new businesses.In a trade and investment promotion meeting presided over by the president at Cheong Wa Dae on Thursday, Park said that the time is ripe for the country to be aggressive and create new growth through creativity and technology.“The very best way to spur investment and exports is to continuously pioneer in new mar
July 7, 2016