Most Popular
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Debate rages over ‘overly fatty’ samgyeopsal
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[Weekender] Korean psyche untangled: Musok
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40 flights canceled on Jeju Island due to bad weather
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Pandemic left Korea more depressed than before: report
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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Missing S. Korean traveler in Paris found safe after 2 weeks
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Defense chiefs of US, Australia, Japan decry NK-Russia military cooperation
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[Graphic News] Korea’s exports projected to improve in H2
Korea’s exports are projected to improve in the second half of this year, despite the poor performances of the semiconductor and shipbuilding industries, data showed Thursday. According to the Korea Institute for Economics & Trade’s report, the amount of exports will recover in the second half of this year and reach an increase rate of minus 1.3 percent compared to last year. Exports in the first half plummeted by 10.8 percent on-year. The overall export increase rate is projected to record minu
IndustryJune 23, 2016
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Samsung Display shipped 97.7 % of OLED panels in Q1
[THE INVESTOR] South Korea’s Samsung Display was the world’s No. 1 in terms of organic light-emitting diode panel shipment in the first quarter, accounting for 97.7 percent of global shipments.Industry tracker IHS said Samsung Display shipped 88.75 million panels, followed by LG Display whose shipments accounted for 0.9 percent of the market. No. 3 player AUO of Taiwan had a 0.7 percent market share. Samsung Display has the capacity to produce 300 million displays a year. It is also the only man
TechnologyJune 23, 2016
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Lotte’s key finance man questioned in growing probe
Lotte Insurance chief executive Kim Hyun-soo.[THE INVESTOR] Lotte Insurance chief executive Kim Hyun-soo has been summoned for questioning in the prosecution’s probe into Lotte Group. He has been summoned as a witness. Kim served in accounting rolls in Lotte Department Store from 1987 to 2014. From 2007, he was in charge of the company’s finances. In serving as the company’s finance chief, Kim is said to have managed personal funds of Lotte Group founder Shin Kyuk-ho, and current chairman Shin
CompaniesJune 23, 2016
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SK Telecom, KT gear up to compete for 5G networks
[THE INVESTOR] The nation’s top telecom firms SK Telecom and KT are gearing up to compete in the field of next-generation network 5G.Korea’s leading mobile operator SK Telecom said on June 23 it has successfully developed 5G test equipment with Ericsson that will be applied to the world’s first 5G test network that is scheduled to be completed by the end of this year. “The upcoming demonstration will be a chance to show stable and sufficient support for up-and-coming 5G services,” said Park Jin-
TechnologyJune 23, 2016
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Slow growth projected for OLED TV market
[THE INVESTOR] The global organic light-emitting diode TV market may not be as robust as previously thought in the coming years, according to an industry report.Market research firm IHS forecast in its recent report that around 5.8 million units of OLED TVs will be shipped in 2020, down 32 percent from 8.5 million projected earlier this year.The number of OLED TVs expected to be shipped in 2019 has also decreased to 4 million, down from an estimate of 5.8 million in the previous report. Models p
TechnologyJune 23, 2016
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KB Financial Group benchmarks BoA-Merrill Lynch merger
[THE INVESTOR] KB Financial Group, Korea’s leading banking group, seeks to set up a universal banking system to provide a wide variety of financial services from insurance to investment services, the firm said on June 23.After acquiring Hyundai Securities in April, the operator of KB Kookmin Bank plans to diversify its business portfolio to depart from its role of offering traditional financial products such as deposits and installment savings. Wealth management business and commercial investmen
June 23, 2016
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Korea’s biggest yoga institute to open in Paju
Korea’s biggest yoga institute is set to open in Paju, Gyeonggi Province, in September, a report said Thursday. Yoga business firm AJNA, together with Hallyu Training Center, said it will recruit overseas and domestic yoga experts to teach at the dormitory-style educational institute dubbed Korea Yoga College. (Korea Yoga College)Hallyu Training Center is known for being the motor behind K-pop entertainment project “Produce 101,” which provided on-television trainings to 101 aspiring starlets t
TechnologyJune 23, 2016
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Merck to establish nonprofit company for charitable work
[THE INVESTOR] Global pharmaceutical and chemical enterprise Merck will establish a nonprofit company, the Merck Family Foundation, to expand its charitable work, the Germany-based company said this week. The Merck Family Foundation will conduct charitable work such as promoting public health care and education, providing emergency aid in a community. To be involved in international development cooperation as a further goal, the global pharmaceutical company is also working out research projects
TechnologyJune 23, 2016
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Government to inject W10.5tr into renewable energy
[THE INVESTOR] The government will invest 10.5 trillion won (US$9.1 billion) into renewable energy in collaboration with the private sector, the Ministry of Trade, Industry and Energy said on June 23. In a press release before a parliamentary briefing on the same day, the ministry said that it will focus on issues concerning electric vehicles, solar power, energy storage systems and other energy-related fields. The ministry said that it will roll out measures to improve conditions for electric v
June 23, 2016
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FSC to draw up measures for shipbuilding, shipping-related firms
[THE INVESTOR] The Financial Services Commission will announce measures to support shipping- and shipbuilding-related industries in August. The top financial regulator said that vice chairman Jeong Eun-bo held a meeting with industry representatives in Busan on June 23, and the government is reviewing measures to support the concerned industries. “(The government) is reviewing diverse measures to relieve financial difficulties of the companies linked to the industries undergoing restructuring,”
June 23, 2016
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BioLeaders to go public in July
[THE INVESTOR] Korean pharma company BioLeaders will list on the secondary bourse KOSDAQ on July 7.Established in 1999, the company develops drugs for immune disorders and other incurable diseases. CEOs of BioLeaders: Sung Moon-hee (left) and Kim Sang-sukPrior to listing on the tech-heavy KOSDAQ, BioLeaders was traded on KONEX -- a securities exchange exlusively for small and medium enterprises and venture companies. It will issue 1.2 million shares within the range of 11,000 won (US$9.5) to 15,
June 23, 2016
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[DECODED] Koreans turn cold shoulder on Lotte amid drama
When Kim Li-na first heard about the prosecution’s probe into Lotte on the alleged creation of slush fund and embezzlement, she was anything but surprised.“At this point, I doubt anyone expected anything less from them,” she said. “After the whole fiasco last year, I think Lotte’s image has pretty much hit rock bottom.” (Yonhap)She was referring to the mudslinging between the Lotte founder’s two sons Shin Dong-bin and Shin Dong-joo, who attacked each other publicly to gain controlling power over
IndustryJune 23, 2016
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[DECODED] Widening Lotte probe rattles nerves in business circles
The unprecedented intensity of the recent prosecutorial raids of Lotte Group, the nation’s largest retail giant and fifth-largest conglomerate, has created anxiety in local industrial circles that any company could become the next target.Several reputed corporations of various size and sector have already come under investigation in recent years and their common element, according to industrial and political observers, is their close relationship with the former President Lee Myung-bak administr
IndustryJune 23, 2016
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Under fire, KDB plans faster withdrawal from bailed-out companies
Korea Development Bank, a state policy bank under fire for mismanagement of bailed-out companies, said Thursday it would exit from its ownership of 46 companies this year, raising the count by 10 from its earlier plan. “From 2016 to 2018, we’ll be exiting from our investments in 132 nonfinancial companies,” the Seoul-based bank said in a statement. Korea Development Bank headquarters (Yonhap)After the planned 46 sales this year, the auction process will begin for 44 companies in 2017 and for an
June 23, 2016
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HMM mulls joining 2M Alliance
[THE INVESTOR] Hyundai Merchant Marine is considering joining the 2M Alliance, a vessel-sharing agreement between Denmark’s Maersk Line and Switzerland’s Mediterranean Shipping Company -- the world’s first and second largest container carriers. Amid growing speculation that Korea’s second-largest shipping company is set to join the alliance, a HMM official confirmed that discussions are ongoing with the alliance parties on June 23. Previously, HMM had tried to enter another six-party partnership
June 23, 2016
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Samsung SDS shareholders call on NPS for support
[THE INVESTOR] Minor shareholders of Samsung SDS are reaching out to the National Pension Service in their fight against the company’s reorganization plans. Samsung SDS is reviewing plans to spin off some of its businesses including the logistics operations. Since Oct. 19, Samsung SDS stock has been on a downward slope with prices down by half since then. The minor shareholders’ association has put the blame squarely on the company’s spin-off plans, and has been demanding action from Samsung SDS
June 23, 2016
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KRX to reform commission system
[THE INVESTOR] Korea Exchange plans to revamp its commission fee structure, the country’s bourse operator said on June 23. KRX will hire an external agency to examine its current commission rate and standards on the imposition of fees and compare it with other major stock exchanges worldwide.The decision comes as the country’s stock market faces an industrial transition as the exchange seeks to transform itself as a holding firm and financial authority pushes to adopt alternative trading system
June 23, 2016
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Former SPC Group executive loses lawsuit against firm
[THE INVESTOR] A legal battle between SPC Group -- the operator of South Korea’s largest bakery chain -- and a former executive has ended in favor of the company.Former Paris Croissant chief executive Jung Tae-soo lost the suit when he failed to appeal a lower court ruling in late May, industry sources said on June 23. Former Paris Croissant CEO Jung Tae-sooSPC is the parent company of Paris Croissant, a popular bakery and coffee shop chain. In December 2014, Jung, 61, sued SPC for unjustified d
IndustryJune 23, 2016
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Cosmax inks MOU with US skincare firm
[THE INVESTOR] Cosmetics maker Cosmax has signed an agreement with US-based skincare firm Nerium International to develop new products related to bio-health and cosmetics, a spokesperson for the Korean company said on June 23. Through the newfound partnership, Cosmax hopes to widen its laboratory research of ingredients and development of fresh products. The results of the collaboration will be sold in the US and Korea, and eventually the potential markets of Japan, Hong Kong, and Australia. Co
IndustryJune 23, 2016
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Kumho Asiana chief takes first win in fraternal battle
The first round of the legal battle between Kumho companies has gone to Kumho Asiana Group chairman Park Sam-koo.On June 23, the Seoul Central District Court sided with Park in the civil suit brought by his brother Park Chan-koo’s Kumho Petrochemical.Kumho Petrochemical had filed a suit against Park and former Kumho E&C chief Kee Ock, claiming that the two were behind the sale of Kumho Industrial’s commercial papers in 2009. The firm claims that the two orchestrated the sale of the commercial pa
IndustryJune 23, 2016