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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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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Pandemic left Korea more depressed than before: report
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Defense chiefs of US, Australia, Japan decry NK-Russia military cooperation
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Prosecutors seek arrest warrant for VW Korea executive
[THE INVESTOR] Prosecutors on June 21 filed for an arrest warrant for the head of certification unit of Audi Volkswagen Korea over the automaker’s emission rigging scandal. The head, identified by his surname Yoon, has been charged with fabrication of private documents and obstruction of justice, Seoul Central District Prosecutors’ Office said. Yoon is the first executive in the snowballing case for whom prosecutors are seeking an arrest warrant. According to prosecutors, Yoon is suspected of ma
MobilityJune 22, 2016
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Korean authorities scrutinize Euro 6 vehicles in VW emissions probe
[THE INVESTOR] The prosecution team looking into Volkswagen’s emissions manipulation case are now inspecting models advertised as meeting Euro 6 emissions standards, a local daily reported on June 22. According to reports, Seoul Central District Prosecutors’ Office has requested 2015 Audi A1 vehicle to be inspected, making it the first Euro 6 vehicle to be included in the probe.About 280 units of 2015 A1 have already been sold in Korea. The 2015 Audi A1 lineup includes engines shared with 2016 A
MobilityJune 22, 2016
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Samsung to invest $1.2 billion in U.S. IoT business
Samsung Electronics Co., South Korea's No. 1 tech firm, announced Tuesday that it will pour $1.2 billion by 2020 into the Internet of Things business in the United States, as part of its global initiative to create a new IoT ecosystem, a hot issue in the ICT world.Samsung also launched an advisory group in partnership with Intel Corp. to affect U.S. policy on IoT."I am excited to show how we are moving IoT to the center of our strategy and am delighted to announce that Samsung is planning to spe
CompaniesJune 22, 2016
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Samsung vows to invest $1.2b in US for IoT tech
[THE INVESTOR] Desperate to find new future growth engines, Samsung Electronics is betting big on the Internet of Things, a network technology which connects objects with humans.The electronics giant has announced a package of plans to grow the business for the connected technology at the Internet of Things Policy Dialogue, an industry conference held at the head office of the US daily Washington Post in Washington on June 21.Kwon Oh-hyun, Samsung Electronics’ vice chairman delivers a speech und
TechnologyJune 22, 2016
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Korea Exchange seeks cross-listing with Hong Kong Exchanges
[THE INVESTOR] The Korea Exchange has signed a letter of intent with Hong Kong bourse operator, the Hong Kong Exchanges and Clearing, to cross-list their stocks. Under the deal, futures on the Mini KOSPI 200 will be available in Hong Kong while futures on the H-shares index will become listed on the local bourse. If successful, the Korea Exchange will become the first foreign country to list futures on the H-share index. H-Shares, indicating shares of companies incorporated in mainland China tha
June 21, 2016
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Samsung Galaxy Note 7 likely to have curved screen: report
[THE INVESTOR] Samsung Electronics’ new Note phablet, tentatively called “Galaxy Note 7,” is expected to have a curved screen, indicating the Korean tech giant’s commitment to a dual-edge curved display for its Galaxy smartphones. According to local daily Munwha Ilbo, Samsung is not considering launching a flat screen version of the Note phone. The Galaxy Note 7 will be unveiled at an unpacked event held in New York in August. It will become the first Note phone with a curved screen. Citing i
TechnologyJune 21, 2016
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POSCO eyes quake-proof steel
[THE INVESTOR] Korea’s top steelmaker POSCO plans to expand production of its quake-proof steel products in light of growing awareness that the peninsula is no longer safe from major seismic jolts following the Japan earthquake and tsunami of 2011. POSCO has set its goal to expand production and sale of quake-proof steel products by 30 percent year-on-year, local news reported on June 21.Dongdaemun Design Plaza in Seoul built with POSCO’s TMCP steel Under the plan, the steelmaker plans to expand
IndustryJune 21, 2016
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Hanwha Techwin creates synergy effect with other defense units: brokerage firm
[THE INVESTOR] Hanwha Techwin has started to create synergy with other defense affiliates of Hanwha Group, a year after the firm was merged into Korea’s 10th largest family-controlled conglomerate, a local brokerage firm said. “Defense business was the matrix of Hanwha Group,” said Kim Ji-san, analyst at Kiwoon Securities while maintaining the price target of 56,000 won and a rating of “overweight.” He said Hanwha Techwin will enjoy more positive effects following its merger into the group which
TechnologyJune 21, 2016
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Samsung SDS rules out stake buyback, interim dividend
[THE INVESTOR] Samsung SDS, the software services unit of Samsung Group, said on June 21 it has decided against buying back its own shares or paying an interim dividend after considering requests from some minority shareholders. “We have discussed the issues together with outside experts. We have agreed that it would be better to use our cash reserve to improve our corporate value through measures such as M&As rather than stake buyback or interim dividend,” the company said in a statement. The c
TechnologyJune 21, 2016
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[ANALYST REPORT] Petrochemical Industry: Key factors that will transform market landscape
The Asian petrochemical market has been bearish due to a surge in oil prices (affect cost) and China’s heightened credit risk (affects demand), in the run-up to major macroeconomic events in June. We expect capacity expansion projects (affect supply) to be delayed until after 2017. That being said, upon the easing of the macroeconomic issues, chemical spreads should widen and petrochemical players’ valuation merit should increase on solid quarterly earnings.Polymer product (including PE, PP, and
June 21, 2016
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SM Entertainment to build culture playground in Changwon
K-pop powerhouse SM Entertainment and Changwon City, South Gyeongsang Province, will collaborate for setting up a colossal culture complex, the city mayor said on June 21.SM Entertainment along with a consortium consisting of top-tier construction companies is planning to build a nine-story complex with parking space designed to accommodate approximately 206 vehicles, near the city’s main bus terminal, Changwon Mayor Ahn Sang-soo said in a press conference.Aerial view of SM Entertainment’s cultu
June 21, 2016
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Gov’t amps up shopping event to boost consumption
[THE INVESTOR] A large-scale shopping-hallyu festival will be held in September to boost domestic consumption, the government said on June 21. The Ministry of Culture, Sports and Tourism and the Ministry of Trade, Industry and Energy said that a government-private sector committee on the event has been formed and its first meeting was held on June 21. Korean Black Friday.The event, titled Korea Sale FESTA, will be held from Sept. 29 through Oct. 31. According to the ministries’ description, the
IndustryJune 21, 2016
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Moody‘s maintains A1 rating for Kyobo Life
[THE INVESTOR] Moody’s Investors Service has assigned the insurance financial strength rating of Kyobo Life Insurance, Korea’s third-largest life insurer by assets, to A1 for the second year in a row, the firm said on June 21. The rating outlook is stable.Last year, the ratings agency upgraded Kyobo Life Insurance’s rating from A2 to A1 for the insurer’s improvement in profitability and financial stability. Kyobo is the first Korean insurance firm that received the A1 rating from Moody’s. Big na
June 21, 2016
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Samsung, LG hard pressed by Chinese TV makers
[THE INVESTOR] Chinese TV makers armed with price competitiveness are a growing threat to Korean electronics giants Samsung Electronics and LG Electronics.Chinese electronics firms, such as LeTV, which is also a streaming services firm, has recently rolled out 65-inch 4K TVs with a price tag of around $900 in the Chinese market, according to IHS, a market research firm.A model poses with Samsung Electronics’ super ultra-high definition TV. (Samsung Electronics)They are around three times cheaper
TechnologyJune 21, 2016
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[ANALYST REPORT] Lotte Shopping: Momentum lost for beleaguered Lotte
1) Investment highlights- We downgrade our rating on Lotte Shopping to Marketperform and cut our target price to KRW240,000.- Uncertainties are swelling over the Lotte Group, as prosecutors expanded their investigation into the conglomerate’s alleged activities that include the creation of a slush fund through cross-affiliate transactions, illegal lobbying to build Lotte World Tower, preferential orders to affiliates, exaggerating sales, intra-family real estate transactions, etc.- Contrary to e
June 21, 2016
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[Herald Interview] Korea’s Army fund mulls investment in foreign venture capital
Korea’s Military Mutual Aid Association, one of the largest institutional investors in the country with 9.4 trillion won ($8 billion) under management, is reviewing plans to invest in foreign venture capital to secure higher returns, the association’s investment chief said.“We may open opportunities not only to private equities, but to venture capital next year when investing in overseas blind pool funds,” Lee Sang-ho, the chief investment officer of the association, said in an interview with Th
June 21, 2016
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[Monitor] Wave of new apartments
A massive influx of households into new apartments across the nation is expected from next year to 2018, according to online information provider Real Estate. The number of households moving into new apartments is projected to reach about 360,000 next year and over 330,000 in 2018.
IndustryJune 21, 2016
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Foreign investors keep buying Hana Financial stocks
[THE INVESTOR] Foreign investor are maintaining a strong appetite for Hana Financial Group, a major South Korean banking group, while overseas holders have reduced exposure to other Korean bank stocks as ongoing corporate restructuring weighs on local lenders. Foreign holdings of Hana Financial Group shares rose 0.9 percentage points during the past three months, from 64.8 percent in March to 65.7 percent in June. Foreign investors bought some 3.27 million of Hana stocks since mid-March. In star
June 21, 2016
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Korean institutions commit $700m in Brookfield Infrastructure fund
[THE INVESTOR] Major Korean institutional investors have invested some 800 billion won ($ 689 million) in one of the world’s biggest private equity-style infrastructure vehicles.Six large institutions including Teachers’ Pension and Public Officials Benefit Association have committed to the new global infrastructure fund by Brookfield Asset Management, a Toronto-based asset manager. The move comes as investors allocate more to the asset class amid low fixed-income yields. “Institutions that seek
June 21, 2016
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Banco Santander to exit Korea
[THE INVESTOR] Spanish lender Banco Santander will shut its Korean operations after seven years, joining foreign banks’ exodus from Korean market in a bid to slash costs through global restructuring, a source said Tuesday.The eurozone’s largest bank by market value will close its office in Seoul before the end of the year and some of its employees will be dispatched to Hong Kong.Launched in 2009, the Seoul office has been serving as a liaison between Korean corporates and official institutions a
June 21, 2016