[THE INVESTOR] LG Electronics has created a new division under its Home Entertainment department to specialize in producing medical image equipment. This is the first time the electronics maker has sought entry into the sector. For its first product, LG Electronics has decided on the digital X-ray detector. The company will also introduce high-precision monitors for professional use. An OLED ...

[THE INVESTOR] KT has joined hands with US-based telecommunications firm Verizon Communications to establish global fifth-generation wireless network standards for the first time in the world, the local mobile carrier said on June 26. Under the partnership, both firms agreed to cooperate on faster commercialization of the 5G which is expected to come in 2020, including setting the global stand...

[THE INVESTOR] South Korean Finance Minister Yoo Il-ho on June 26 pledged to implement “aggressive stabilization measures” to minimize the market fluctuations that may be caused by Britain’s recent decision to leave the European Union. He also said the government will keep up steady communication with market participants, especially with those outside the country. “We have seen cases in the pas...

[THE INVESTOR] South Korean share prices are expected to face increased fluctuation next week as foreign investors are expected to pare down risky assets following Britain‘s decision to exit the European Union, analysts said on June 25. The benchmark Korea Composite Stock Price Index closed at 1,925.25 on June 24, down 3.09 percent, which was the biggest daily loss in more than four years. That ...

[THE INVESTOR] South Korea’s largest steelmaker POSCO’s chairman Kwon Oh-joon called on employees to stay wary of trade protectionism trends that are being increasingly promoted by advanced nations amid deteriorating global economic conditions. POSCO chairman Kwon Oh-joon / The Investor “If trade protectionism is extended to countries in Southeast Asia, a key market for POSCO, it could have a m...

[THE INVESTOR] Like elsewhere in the world, Seoul’s financial markets took a heavy beating from Britain’s decision to leave the European Union on Friday, as panicky investors dumped emerging-market assets in a global flight to safety. KOSPI stocks fell 3 percent, while the local currency shed nearly 2.5 percent against the dollar. Government officials swiftly went into an emergency mode, saying ...

[THE INVESTOR] Gyeonggi Province has proposed a deregulation for companies seeking duty free licenses, according to the provincial government on June 23. On June 2, the Gyeonggi government submitted a proposal to the Korea Customs Service asking for changes to the current regulations concerning duty-free licenses in the area. Under current KCS regulations, each provincial government is permitt...

[THE INVESTOR] LG Innotek will be providing Apple with dual camera modules as early as this month, industry sources said on June 24. The reports come following Sony’s withdrawal from the camera module market in May. The Japanese electronics firm cited earthquakes and deteriorating profitability as the factors behind its decision. LG Innotek, however, said it could not confirm the deal. “We a...

[THE INVESTOR] Samsung Electro Mechanics will be supplying dual camera modules to Chinese smartphone makers for the first time, industry sources said on June 24. “The South Korean firm will be begin supplying the modules to Xiaomi and LeECO beginning in July,” an industry source told the local media on the condition of anonymity. Samsung Electro Mechanics have been supplying single camera modul...

[THE INVESTOR] The South Korean government said on June 24 it will jump in with market stabilizing measures, should the foreign exchange market becomes volatile due to the results of the British referendum. “If the foreign exchange market shows excessive volatility, the government will take swift measures to stabilize the market,” Vice Finance Minister Choi Sang-mok told an emergency meeting wit...

[THE INVESTOR] Mercedes-Benz Korea, the Korean unit of Germany’s Mercedes-Benz, is carrying out a recall on its SLK Class sedans, according to the South Korean government on June 24. Mercedes-Benz's SLK Class sedan. The automaker is recalling 25 of the vehicles manufactured between Jan.20 this year to March 18 for a part malfunction keeping the rear tires from maintaining alignment. Free repai...