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[URGENT] Naver Q2 earnings soar 44% on upbeat overseas sales

Jul 28, 2016

[THE INVESTOR] South Korean Internet giant Naver on July 28 posted its second-quarter operating profit of 272.7 billion won (US$240 million), up 44 percent from a year ago, largely driven by soaring overseas sales. Revenue soared 26.3 percent to 987.3 billion won.
[URGENT] Samsung Electronics posts W8.14tr operating profit in Q2

Jul 28, 2016

[THE INVESTOR] Samsung Electronics on July 28 posted its second-quarter profit of 8.14 trillion won (US$7.2 billion), up 18 percent from a year ago. Revenue soared 5 percent to 50.94 trillion won.
[URGENT] LG Innotek posts W34b operating loss

Jul 27, 2016

[THE INVESTOR] LG Innotek , the car parts unit of LG Group, on July 27 posted its second-quarter earnings loss of 34 billion won (US$30 million) in the April-July period. Revenue stood at 1.12 trillion won.
[URGENT] Samsung C&T returns to profits in Q2

Jul 27, 2016

[THE INVESTOR] Samsung C&T, a construction and trading affiliate of Samsung Group, said on July 27 it posted second-quarter operating profit of 176.81 billion won (US$158.88 million), reversing a loss from the previous quarter. The company reported sales of 7.05 trillion won, up 8.7 percent on-quarter, and the net profit was at 134.58 billion won, the company said in a regulatory filing on July ...
SK hynix to beef up 3-D NAND production

Jul 26, 2016

[ THE INVESTOR ] SK hynix said on July 26 plans to elevate its production capacity of 3-D NAND flash chips, used for long-term storage in smartphones and computers, to some 30,000 units by the end of this year. “We will focus on producing 36-layer (NAND) chips in the third quarter and beef up production of 48-layer chips from the fourth quarter,” the company said during a conference call. T...
[URGENT] SK hynix Q2 earnings down 67% on weak chip prices

Jul 26, 2016

[ THE INVESTOR ] SK hynix , South Korea's No. 2 chip maker, on July 26 posted second-quarter operating profit of 452.9 billion won (US$390 million), down 67.1 percent from a year ago. Revenue also declined 15 percent to 3.9 trillion won during the same period. By Lee Ji-yoon ( jylee@heraldcorp.com )
Samsung Electro, LG Innotek bet big on dual camera demand

Jul 26, 2016

[ THE INVESTOR ] South Korea’s top two electronics parts makers -- Samsung Electro-Mechanics and LG Innotek -- are betting big on surging demand for dual-camera smartphones. The parts units of Samsung and LG have been somewhat struggling in recent months amid cost-cutting pressure from smartphone manufacturers in a saturated market. But as their clients are focusing more on premium feature...
Chinese firms in fray to acquire ING Life

Jul 25, 2016

[ THE INVESTOR ] The binding bid for ING Life Insurance, launched by the nation’s largest private equity fund MBK Partners, will start early next month, industry sources said July 25. Morgan Stanley, the lead manager for the sale, has closed the preliminary bidding for the fifth largest life insurance firm in Korea, and will carry out the bidding for what is said to be the largest M&A deal in ...
Samsung offers chip suppliers W15.2b incentives

Jul 25, 2016

[ THE INVESTOR ] Samsung Electronics said on July 25 it has paid out a combined 15.25 billion won (US$13.4 million) as incentives to the company’s 95 contractors supplying parts for its chip products. The incentives will be immediately distributed to some 10,000 workers working at the suppliers. Samsung offers two types of incentives to suppliers for improved productivity and safety measure...
[INTERVIEW] Wolfgang’s steaks speak for themselves, says CEO

Jul 24, 2016

[ THE INVESTOR ] Wolfgang’s Steakhouse in Seoul is an unusually large restaurant, especially for the upscale Cheongdam-dong area of Seoul. Step inside, past the mahogany reception desk and the main dining hall seems to spread out endlessly, with countless tables covered in white tablecloths. Overhead, private dining rooms line the second floor. Peter Zwiener, head of Wolfgang’s Steakhouse / Wo...
Korean retailers ride on ‘Pokemon Go’ craze

Jul 24, 2016

[ THE INVESTOR ] South Korean retailers are capitalizing on the explosive popularity of Nintendo’s augmented-reality mobile game “Pokémon Go” with new products and services targeting local Pokémon game enthusiasts and fans. From a sudden rise in consumer spending at select Pokémon-appearing cities in Korea to the launch of Pokémon-inspired hotels, tour packages and goods, the smash-hit game ap...
Extension of trading hours to take effect on Aug. 1

Jul 24, 2016

[ THE INVESTOR ] Beginning Aug. 1, South Korea will extend its trading hours for its equities, derivatives, gold futures and foreign exchange markets to boost its financial market status in line with the Morgan Stanley Capital International standards. The Korea Exchange, the country’s quasi-sovereign stock market operator, said Sunday that the stock and bullion markets’ trading hours will be e...
[INTERVIEW] 'Raise the stakes,' says Cambridge economist

Jul 24, 2016

[ THE INVESTOR ] JEJUDO ISLAND ㅡ To eke out a breakthrough in the current economic stalemate, Korean businesses and the country as a whole need to make bold choices about the future, embracing the risk of failure, Chang Ha-joon, the world-renowned Korean economist said. “The industries that form the backbone of Korea’s economy now came to be as such in the ’70s, ’80s or ’90s at the latest. Whi...
LG Display doubles 65-inch OLED panel production in Q2

TechnologyJul 20, 2016

[ THE INVESTOR ] LG Display , the display-making unit of LG Group, has almost doubled production of its 65-inch organic light-emitting diode panels in the second quarter as more TV manufacturers are adopting the larger OLED display. According to UBI Research, a local research firm specialized in OLED, the company shipped a combined140,000 OLED panels in the April-June period. Of them, the 65...
[DECODED: SAMSUNG] Samsung goes back to basics

Jul 18, 2016

[ THE INVESTOR ] Many start-ups want to be like Samsung. Ironically enough, Samsung wants to be like a start-up. And for the past few years, the nation’s largest conglomerate has been working hard to go back to basics. Some liken it to a patient lying on an operating table: Some of its affiliates are being removed like dead tissue, while others are being stitched back together, at times after ...