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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SKT offers free navigation app to take on KakaoNavi
[THE INVESTOR] SK Telecom has recently decided to offer its immensely popular navigation app T-Map for free to all mobile users. T-Map is the nation’s No. 1 mobile navigation service with more than 8 million users. But the company offered the service for free only to SK Telecom subscribers. Some 230 million mobile users subscribing network services of KT, LG Uplus and other budget plans are expected to benefit from the free service from July 19. The decision comes as Kakao is expanding its onlin
TechnologyJuly 6, 2016
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FM promises gov’t intervention in case of economic crisis
[THE INVESTOR] The government will intervene should external risks facing the South Korean economy be realized, Deputy Prime Minister Yoo Il-ho said on July 6.Speaking at the conference on government finances held in Seoul, Yoo said that the government will intervene if the Korean economy is hit by external factors. Finance Minister Yoo Il-ho“If external risks are realized, state finances (will be used) to overcome the crisis as it was in the past,” Yoo said. He added that concerned ministries m
July 6, 2016
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Korea's finance minister vows stronger fiscal expansion
Korea's finance minister on Wednesday pledged stronger fiscal expansion for Asia's fourth-largest economy when external risks come to realization."When the current external risks become reality, the fiscal authority will take aggressive action as it did in the past,"Finance Minister Yoo Il-ho said in a government meeting on fiscal strategy in Seoul. "In order to take such roles, the government has to make constant efforts to maintain sound public finance."The Korean government unveiled a set of
July 6, 2016
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FIRST OWNER OF IONIQ ELECTRIC
The first Korean consumer (center) of Hyundai Motor’s electric vehicle Ioniq Electric poses with the company’s domestic sales chief Chang Jae-hoon (left) on Wednesday at the company’s office in Gangnam-gu, Seoul. The all-electric model, which is able to drive up to 191 kilometers on a single charge, hit the market in June. (Hyundai Motor)
MobilityJuly 6, 2016
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Japan Tourism Corporation seeks KOSDAQ listing
[THE INVESTOR] Japan Tourism Corporation, which runs duty-free stores for foreign visitors in Japan, plans to list its shares on South Korea’s secondary bourse KOSDAQ next year, according to sources on July 6. It is the first time that a Japanese firm is seeking an initial public offering on the Seoul bourse after Japanese mortgage bank SBI Mortgage went public in 2012. Japan Tourism Corporation's duty-free store in TokyoHeadquartered in Fukuoka City, JTC is entirely owned by Korean native Ku Ch
July 6, 2016
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FTC announces pending changes to competition laws
[THE INVESTOR] The Fair Trade Commission on July 6 disclosed planned changes to the Monopoly Regulation and Fair Trade Act. The proposed revisions will segregate corporate groups with 5 trillion won (US$ 4.3 billion) or more assets into two categories. Those with 10 trillion won or larger assets will continue to be categorized as large corporate groups, and subjected to tougher regulations regarding cross-shareholding, and debt guarantees among affiliates. The groups whose assets range from 5 tr
IndustryJuly 6, 2016
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TCL to invest US$100m in Korean materials maker Sangbo
[THE INVESTOR] China’s TCL has decided to invest US$100 million in Korean parts and materials maker Sangbo. The two companies signed an agreement for the investment in Seoul on July 5. TCL’s chairman Li Dongsheng also attended the signing event during his recent visit to Korea. This is a large funding for Sangbo that has a market value of about 112.6 billion won (US$96 million) based on its stock price. Sangbo currently supplies optical films to Chinese TV makers, including TCL. It operates six
IndustryJuly 6, 2016
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Bioleaders to float shares on KOSDAQ on July 7
[THE INVESTOR] South Korean biopharmaceutical firm Bioleaders has passed the final review for transferring its stocks to the country’s tech-heavy KOSDAQ from KONEX, the bourse operator Korea Exchange said on July 5. BioleadersBioleaders will be listed on KOSDAQ on July 7 with the indicative share price set at 15,000 won (US$12.87). Established in 1999, the firm has a range of core technologies to develop next-generation immunity treatments. In 2015, Bioleaders logged 1.47 billion won in sales an
July 6, 2016
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‘Samsung seeks to take on LG in larger OLED’
[THE INVESTOR] Samsung Display has long gauged the marketability of large-size organic light-emitting diode displays due to their low production yields and high prices. The display-making unit of Samsung Electronics, however, is said to be speeding up preparations to jump into the sector in earnest, testing a series of technologies to improve production capability. Kateeva’s OLED inkjet printer / The Investor“Kateeva will supply the prototypes of its inkjet printers to its global customers in Ko
TechnologyJuly 6, 2016
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China’s TCL chairman visits Samsung headquarters
[THE INVESTOR] Chinese tech giant TCL’s chairman Li Dongsheng visited Samsung Group’s headquarters in Seocho-dong, southern Seoul, on July 6, possibly to seek partnership on liquid-crystal display business. Li was also accompanied with top executives of China Start Optoelectronics Technology, TCL’s display-making unit and China’s second-largest display maker. TCL chairman Li DongshengSamsung Electronics’ top executives, including CEO and display business chief Kwon Oh-hyun and the company’s TV b
TechnologyJuly 6, 2016
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Korean shares plunge 1.85 pct on renewed Brexit woes
Korean shares sank 1.85 percent Wednesday, as fears sparked by Britain's decision to leave the European Union apparently resurfaced, while foreigners tried to partly cash in recent gains. The local currency continued to lose ground against the U.S. dollar for a third consecutive session.The benchmark Korea Composite Stock Price Index lost 36.73 points to 1,953.12. Trading volume was moderate at 451.69 million shares, worth 4.68 trillion won ($4.01 billion). Losers outnumbered gainers 646 to 165.
July 6, 2016
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Samsung Display to separate LCD, OLED business divisions: report
[THE INVESTOR] Samsung Display, an affiliate of Samsung Electronics, is expected to separate its liquid-crystal display and organic light-emitting diode business divisions in a planned reshuffle next week, the Electronic Times reported on July 5. This is the first reshuffle since Samsung Electronics vice chairman and CEO Kwon Oh-hyun took the helm of the display business division in April, hinting at the company’s strategic shift toward more lucrative OLED. Samsung’s flexible OLED displayThe com
TechnologyJuly 6, 2016
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Netmarble bids to acquire Israel-based game firm Playtika
South Korea’s leading mobile game company Netmarble Games has entered the race to acquire Israel-based social casino game developer Playtika in a deal valued at up to $4 billion, multiple sources in the local investment banking industry said Tuesday. If successful, the deal would mark the largest acquisition by a Korean game company to date and significantly boost Netmarble’s market value ahead of its initial public offering scheduled for next year.According to local news reports, Netmarble has
TechnologyJuly 6, 2016
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Korea card firms mull legal action against Visa on fee hikes
A group of Korean credit card companies said Wednesday they will consider taking legal action against Visa Inc. following the global payment network company's recent decision to raise the card fees it receives from Korean card issuers starting next year.In May, Visa notified Korean card firms that it will collect a higher rate of card fees for Koreans' overseas credit card purchases using its networks from Korean card companies starting in October. The Korean firms balked at the hike plan becaus
IndustryJuly 6, 2016
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‘Lotte Home Shopping spent W3.3b on lobbying in 2015’
TV shopping company Lotte Home Shopping, which is currently under investigation for bribery, spent nearly 3.3 billion won ($2.83 million) on lobbying fees last year, according to a corporate information tracking website.According to Chaebul.com, that was the largest sum spent on lobbying by the company since 2008, surpassing the 2.9 billion won spent in 2014 when the company was preparing to receive an extension on its home shopping license. Prosecutors move seized documents from Lotte Home Shop
IndustryJuly 6, 2016
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[Decoded] Hyundai Motor challenged at home
Hyundai Motor is facing increasing challenges on home ground, with Korean consumers looking at other options and rivals intensifying competition. The market share of the nation’s largest automaker reached 80 percent in the early 2000s after acquiring Kia in 1999. However, its market share dropped to 68 percent last year, with the figure for Hyundai falling below 40 percent for the first time. Source: Hyundai Motor“Hyundai’s market share here will further go down -- albeit slowly. It is difficul
MobilityJuly 6, 2016
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Volkswagen’s H1 sales hit by diesel scandal
[THE INVESTOR] Volkswagen’s sales in South Korea in the first six months slipped from a year ago, hit by the widening investigations into the German automaker’s emission scandal, industry data showed on July 6. The number of VW vehicles sold in January-June came in at 12,463 units, a 33.1 percent decrease from the same period last year, according to data from the Korea Automobile Importers and Distributors Association. Volkswagen store in Seoul, South Korea/ The InvestorJune sales plummeted by
MobilityJuly 6, 2016
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Gov’t seeks W20tr private sector investment in rail networks
[THE INVESTOR] The government will open rail network projects in Korea to the private sector, and attract nearly 20 trillion won (US$ 17.1 billion) private sector funds into the field over the next 10 years. According to the plans revealed by the Ministry of Land, Infrastructure and Transport, rail projects across the country will be opened to the private sector. Until now, the majority of rail projects open to the private sector have been concentrated in Seoul and surrounding regions. A train o
IndustryJuly 6, 2016
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Korea to attract private sector for rail development
The South Korean government seeks to attract private companies to participate and bid for local railway projects beyond the Seoul and Gyeonggi metropolitan areas amid difficulties in financing infrastructure development with state capital.The Ministry of Strategy and Finance and the Ministry of Land, Transport and Maritime Affairs said Wednesday that the government seeks to attract some 20 trillion won ($17 billion) from the private sector to build and expand railway networks nationwide over the
July 6, 2016
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Seoul to shut down 10 aged coal power plants
The Korean government will gradually shut down 10 aged coal-fired power plants as part of measures to curb fine dust emissions, officials said Wednesday. The Ministry of Trade, Industry and Energy said that the 10, to be closed by 2025, are aged over 30 years and have a combined capacity of 3.3 million kilowatts. It will also no longer build coal power plants to support the country’s aim of cutting the fine dust level by 24 percent to 6,600 tons by 2030. Trade Minister Joo Hyung-hwan presides ov
IndustryJuly 6, 2016