[ THE INVESTOR ] Shares of South Korean automotive parts maker Mando tumbled more than 13 percent on the local bourse on Sept. 30 after a news report that German engineering giant Bosch has sued it for patent violations in the US. Adding to the prolonged strike by Hyundai Motor, its key client, the patent suit dragged down the company’s stock price to close at 247,000 won (US$225), down 38,...

[ THE INVESTOR ] Samsung Electronics on Sept. 30 projected that the ongoing Galaxy Note 7 recall worldwide would cost Samsung Electronics a combined 2 trillion won (US$1.80 billion) in the coming months this year. “We are adjusting our estimates of the third-quarter operating profit from 7.8 trillion won to 7 trillion won,” said the securities firm. “Following the Galaxy Note 7 recall, the c...

[ THE INVESTOR ] Samsung Electronics Vice Chairman Lee Jae-yong and SoftBank Group Chairman Masayoshi Son, who is more widely known as Sohn Jeong-eui here, were spotted meeting at the Korean tech giant’s Seoul headquarters on Sept. 29. The two firms declined to reveal details of the high-profile meeting. Industry watchers see they may have discussed possible partnership on the Internet of ...

[ THE INVESTOR ] Lotte Group is likely to seek a stock debut of Hotel Lotte again after an arrest warrant request was rejected for Chairman Shin Dong-bin , according to eBest Securities on Sept. 29. Under Shin’s leadership, Hotel Lotte had considered an initial public offering on the local bourse since August last year as part of the retail giant’s effort to resolve cross-shareholdings among...

[ THE INVESTOR ] South Korean internet giant Naver and its Japanese affiliate LINE said on Sept. 29 they have decided to invest a combined 100 million euros (US$112 million) into a startup accelerator fund running in Europe. The K-Fund 1 will be operated by Korelya Capital, an investment firm established by Fleur Pellerin, the former Korean-born French minister overlooking small and medium ...

[ THE INVESTOR ] Daewoo Shipbuilding and Marine Engineering has avoided a forced exit from the stock market as South Korea’s bourse operator decided to give a year to the troubled shipbuilder to improve its financial health, Korea Exchange said on Sept. 28. KRX will allow the cash-strapped shipbuilder to maintain a listing during the grace period which ends on Sept. 28, 2017. Trading in DSME...

[ THE INVESTOR ] Samsung Electronics said on Sept. 28 it has completed an 11.3 trillion won (US$10 billion) share buyback program that was launched in October as part of its shareholder-friendly policies. The Korean tech giant said its four share repurchases and the cancellations have elevated the company’s stock price almost 20 percent over the past year. Samsung Electronics Vice Chairman ...

[ THE INVESTOR ] Samsung Group is seeking Chinese talent to join its top consulting team Global Strategy Group. According to Korea Economic Daily on Sept. 28, the nation’s largest conglomerate recently held a recruiting event at top elite schools, including Beijing University, Xinghua University and China Europe International Business School. It is the first time that Samsung has held the e...

[ THE INVESTOR ] Some 50 top Samsung Group executives on Sept. 28 attended a special lecture on the global trend of shareholder activism and policies to respond to investors’ growing demands. The lecture was delivered by Goldman Sachs’ Korean chief Chung Hyoung-jin, following their weekly meeting held every Wednesday at the Seoul headquarters. The lecture was reminiscent of the highly publici...

[ THE INVESTOR ] Hankook Tire , the nation’s largest carmaker, will be supplying original equipment tires to be equipped on Scania’s new trucks from November. With the latest deal, the carmaker is supplying tires to the world’s top three commercial vehicle manufacturers, including Mercedes-Benz and Volkswagen’s MAN Truck. Three key tire products -- e-cube Max, SmartFlex, SmartWork -- will b...

[ THE INVESTOR ] South Korea’s Transport Ministry said on Sept. 28 it is starting a new round of recall of 110,000 vehicles with Takata’s air bag inflators that have been linked to deaths and injuries from the ruptures. According to the ministry, about 221,870 vehicles with Takata’s air bags that were produced and sold before 2011 should be recalled here. Since 2013, some 23,000 air bags have...