Most Popular
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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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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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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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[Kim So-hyun] The quiet taxi driver from Paris
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NASA's Juno spacecraft orbits Jupiter, ’king of solar system‘
NASA celebrated a key triumph on Tuesday as its $1.1 billion Juno spacecraft successfully slipped into orbit around Jupiter on a mission to probe the origin of the solar system.NASA‘s Jet Propulsion Laboratory in Pasadena, California erupted in cheers as the solar observatory entered its aimed-for orbit around the biggest planet in our cosmic neighborhood at 11:53 p.m. “We are there. We are in orbit. We conquered Jupiter,” said Scott Bolton, NASA’s principal investigator from the Southwest Resea
TechnologyJuly 6, 2016
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Hanjin Shipping in talks to postpone debt repayment
Financially troubled Hanjin Shipping Co. is in talks with a group of local and financial companies to delay the repayment of debts in a bid to stay afloat amid a protracted slump, industry sources said Wednesday.According to the sources, the country's No. 1 shipping line is seeking to postpone the repayment of 2.5 trillion won ($2.17 billion) debt borrowed to buy container ships and other vessels by up to three years, which market analysts say would help the shipper save billions of won.Hanjin S
IndustryJuly 6, 2016
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Korea to ease regulations to kick-start Internet-only banks
Korea will ease regulations and revise rules to help the country's first internet-only banks make a soft landing and grow down the road, its financial regulator said Wednesday.Among the necessary steps to propel the growth of Kbank and Kakaobank, the Financial Services Commission picked an immediate revision to the existing banking laws to allow information-technology companies, as the largest shareholders, to participate in the web-only banks' management decisions as the most urgent measure to
TechnologyJuly 6, 2016
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Celltrion chairman pushes to build theme park in Incheon
[THE INVESTOR] South Korean pharmaceutical firm Celltrion ’s chairman Suh Jeong-jin has kicked off plans to build a large-scale theme park in Incheon’s Yeongjong-do, according to an exclusive news report here. The park would be a personal project, with a handful of investors taking part, according to Incheon Free Economic Zone authorities and the Incheon Development & Tourism Corp. “A group of investors including Suh has already invested around 1 billion won (US$86,930) to initiate the plan. The
CompaniesJuly 6, 2016
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Global oil price to remain range-bound: report
Global oil prices will likely move in a tight range throughout the year with U.S. shale production keeping a low ceiling, a central bank report said Wednesday.Low oil prices have been partly to blame for a prolonged slump in Korea's exports as petroleum and petrochemical products account for nearly one-fourth of the country's overall outbound shipments. Korea's exports have fallen every single month since the start of last year.Global oil prices have somewhat recovered since hitting what many be
July 6, 2016
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Hyundai, Kia post robust H1 sales in Mexico
Sales of vehicles made by Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. have nearly quadrupled in Mexico in the first half of 2016 compared with a year ago, industry data showed Wednesday.The two Korean carmakers sold a combined 40,264 units in Mexico in the first six months of the year, compared with 11,004 from a year earlier, data compiled by the Mexican Automotive Industry Association showed.Kia Motors has shown a strong performance since entering the Mexican market in July 2
IndustryJuly 6, 2016
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Samsung to maintain Europe HQ in UK
[THE INVESTOR] Samsung Electronics has decided to maintain its Europe headquarters in the UK after considering relocation to other European Union countries such as the Netherlands and Germany in the wake of Brexit.Citing an unnamed Samsung executive, Maeil Business News reported on July 6 that the Korean tech giant has no plan to relocate its Europe headquarters. A Samsung Galaxy S7 experience zone set up at a shopping mall in London.“Maintaining the current location is the company’s official st
TechnologyJuly 6, 2016
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Samsung Securities says KOGAS ‘excessively undervalued’
[THE INVESTOR] Samsung Securities said Korea Gas Corporation ’s stocks are considerably undervalued, trading at around 0.33 times price-to-book value. “We expect that KOGAS’ profit from overseas resources development projects to bottom out from July while domestic sales of liquefied natural gas remain stable,” said Yang Ji-hye, an analyst at the securities firm. Samsung Securities maintained its buy rating and price target of 58,000 won (US$49.90) for KOGAS. The stock was up 1.26 percent to 40,3
July 6, 2016
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Antitrust watchdog closes investigation on banks' rate-rigging allegations
Korea's antitrust watchdog said Wednesday that it has closed a probe into years-long allegations that six local commercial banks fixed their certificate of deposit rates, citing a lack of evidence.Six major banks including Shinhan Bank, Kookmin Bank and Woori Bank had allegedly colluded to rig the CD rate to be at a higher level than the market price between 2009 and 2012, while the central bank started to take the expansionary monetary policy in 2012.A CD is a financial instrument sold by banks
July 6, 2016
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Hello Jupiter! NASA spacecraft arrives at giant planet
PASADENA -- Braving intense radiation, a NASA spacecraft reached Jupiter on Monday after a five-year voyage to begin exploring the king of the planets. Ground controllers at the NASA Jet Propulsion Laboratory and Lockheed Martin erupted in applause when the solar-powered Juno spacecraft beamed home news that it was circling Jupiter's poles. The arrival at Jupiter was dramatic. As Juno approached its target, it fired its rocket engine to slow itself down and gently slipped into orbit. Becau
TechnologyJuly 5, 2016
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[Graphic News] Mobile shopping hits record W2.7tr in May
Mobile shopping in Korea soared 41.7 percent to a record high of 2.697 trillion won ($2.4 billion) in May from a year earlier, according to a government report Monday.“Purchases on mobile devices jumped last month due to convenience, competitive prices and a bigger range of products. And the trend is set to strengthen over time,” said an official from Statistics Korea.Mobile shopping accounted for 52.1 percent of the country’s overall online shopping sales worth 5.178 trillion won last month, up
July 5, 2016
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Incheon Bridge draws global recognition
Incheon Bridge is drawing attention at home and abroad after it won the premium gold award from the leading Swiss-registered International Project Management Association last year, officials from the bridge operator said.The Incheon Bridge Company‘s officials said the project was recognized as an example of best practice by IPMA experts, who praised Korea’s technological, financial and managerial competitiveness. Incheon Bridge (Incheon Bridge Co.)“Incheon Bridge’s long-term approach and susta
IndustryJuly 5, 2016
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Prosecutors summon ex-VW Korea chief
[THE INVESTOR] Prosecutors summoned former head of Volkswagen Korea Park Dong-hoon on July 5, to question him over the German automaker’s emission scandal that hit the customers here and around the world. Park, who headed the company from its initiation in 2005 to 2013 before moving to Renault Samsung as the chief executive, appeared before the Seoul Central District Prosecutors’ Office as a key witness in the ongoing case over VW cheating emission tests for defective units. The prosecutors, how
MobilityJuly 5, 2016
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Korean financial regulator seeks bigger say in global organization
Korea has recently increased its presence in a global financial advisory organization to have a bigger say when the member countries set and revise international financial rules, its financial regulator said Tuesday. Early this month, the Financial Services Commission and the Financial Supervisory Service acquired membership in the Committee1 under the International Organization of Securities Commissions "to make its voice heard" in setting international rules and standards involving accounting,
BusinessJuly 5, 2016
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Franchisees sue Pizza Hut for unfair business practice
[THE INVESTOR] Angry Pizza Hut franchisees have once again sued the company for its unfair practice of collecting marketing and management fees outside of the contract, local news reported on July 5. The 25 owners of Pizza Hut outlets filed a suit with the Seoul Central District Court, demanding the global pizza house’s Korean unit pays back the amount it collected under “admin fee,” totaling around 760 million won (US$ 658,015). The owners claim that the company made them pay an additional 0.55
IndustryJuly 5, 2016
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Shares likely to extend gains on eased Brexit woes
South Korean shares are likely to trade in the positive terrain this week as shock over Britain‘s decision last week to exit the European Union has eased, analysts said.The benchmark Korea Composite Stock Price Index gained 3.19 percent for the whole of this week to end at 1,987.32 this Friday, fully recovering the loss of 3.09 percent last Friday when Britain’s EU exit vote wiped out nearly 2.5 trillion won from global equity values. This week, analysts said the KOSPI will trade in the range of
July 5, 2016
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Korea’s potential growth rate could drop to 1.45% in 2050: think tank chief
[THE INVESTOR] Korea’s potential economic growth rate could fall to as low as 1.45 percent by 2050, Korea Economic Research Institute president Kwon Tae-shin warned on July 5. Speaking at a forum held at the National Assembly, Kwon said that Korea’s potential growth rate has plunged since the 1990s, and that a potential growth rate of 1.45 percent is possible by 2050. “One of the structural problems with the Korean economy is falling potential growth rate,” Kwon said. Saying that Korea’s potenti
July 5, 2016
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[ANALYST REPORT] NCsoft: Momentum expected from new Lineage IP games
-2Q16 operating profit estimated at W72.7bn (+8.4% YoY), missing consensus by 6% ¨ -Momentum from release of new mobile games based on Lineage IP from July-Retain BUY for a target price of W320,0002Q16 operating profit estimated at W72.7bn (+8.4% YoY), missing consensus by 6%We expect NCsoft to report 2Q16 sales of W225.3bn (+3.6% YoY) and operating profit of W72.7bn (+8.4% YoY). Lineage sales are estimated at W85.6bn (+8.6% QoQ) backed by the dragon’s treasure chest event (May 25 - June 22). Sa
July 5, 2016
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[DECODED] Hyundai Motor outside directors need ‘watchdog role’
[DECODED] The corporate board of Hyundai Motor, the top decision-making body for the nation’s largest automaker, has made improvements in its shareholder-friendly policies for the past few years by raising dividend payments and setting up a sub-committee for better communication with shareholders. The nine-member body, however, has made little progress in upgrading the quality of itself, idling from its core “watchdog” role for better management decisions. The automaker’s governing body has been
IndustryJuly 5, 2016
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3 out of 10 big companies say regulations hinder new business
Red tape hinders new businesses at three out of 10 big companies at home, a poll showed Tuesday in the latest sign that regulations could hold back corporate management.The survey of 141 local companies released by the Korea Economic Research Institute found that 29.3 percent faced difficulties in their new businesses due to regulations. (Yonhap)The survey was conducted on the country's 300 largest companies by revenue by the institute under the Federation of Korean Industries, the nation's big
IndustryJuly 5, 2016