The Korea Herald

NTS launches special tax audit on DSME

Oct 20, 2016

[ THE INVESTOR ] The National Tax Service on Oct. 20 launched a special audit on troubled shipbuilder Daewoo Shipbuilding and Marine Engineering . According to DSME, NTS investigators secured fi...
Shipbuilding industry leaders say oversupply and global issues delaying recovery

Oct 20, 2016

[ THE INVESTOR ] Stemming oversupply is key to overcoming the shipbuilding industry’s difficulties, according to global industry leaders. Speaking at the meeting of shipbuilders’ CEOs from Japan, ...
Ailing shipbuilders to turnaround in Q3

Oct 20, 2016

[ THE INVESTOR ] South Korea's three largest shipbuilders are expected to post positive earnings in third quarter despite their ongoing troubles. According to industry sources, the three companies...
Kolon Industries ordered to pay large corporate tax

Oct 19, 2016

[ THE INVESTOR ] Kolon Industries has been ordered to pay 74.3 billion won (US$66.05 million) additional corporate taxes. The order was issued following a recent audit by the Seoul branch of the ...
S. Korea mulling eco-friendly car supply quota

Oct 19, 2016

[ THE INVESTOR ] The government may introduce an eco-friendly car supply quota to increase the number of electric cars on the road. “As electric car supply is low, there is a need to review manda...
Lotte’s medical service plans off to smooth start

Oct 19, 2016

[ THE INVESTOR ] Hotel Lotte announced on Oct. 19 that it has been selected as the preferred bidder for Neul Proon Medical Foundation. The foundation operates Bobath Memorial Hospital, but entere...
Kumho Tire sale attracts foreign tire makers

Oct 19, 2016

[ THE INVESTOR ] The bid to take controlling stake in Kumho Tire could go down to a competition between non-Korean entities. The firm’s creditors are currently looking to sell their 42 percent s...
KNOC issues US$1b bonds

Oct 19, 2016

[ THE INVESTOR ] The Korea National Oil Corporation on Oct. 18 issued bonds worth US$1 billion. They include 5-year bonds worth US$350 million with yield of 1.094 percent, and 10-year bonds value...
Samsung Electronics under tax audit

Oct 18, 2016

[ THE INVESTOR ] The National Tax Service has started its regular audit on Samsung Electronics , according to reports. The Seoul office of the tax agency reportedly dispatched officers to the te...
Renault Samsung to develop electric commercial vehicle

Oct 18, 2016

[ THE INVESTOR ] Renault Samsung Motors plans to launch a small electric commercial vehicle in 2019, according to news reports on Oct. 18. The company is reportedly planning to begin development t...
Seoul court likely to seek sale of STX Offshore

Oct 18, 2016

[ THE INVESTOR ] STX Offshore and Shipbuilding may be sold off before its revival plans are approved, according to news reports Oct. 18. Citing unnamed sources, the reports said that the Seoul Cen...
Hyundai’s new sales chief, sales or lobbying expert?

Oct 18, 2016

[ THE INVESTOR ] Hyundai Motor , faced with increasing heat from the government, may be hoping to boost its lobbying capabilities with its new domestic sales chief. Lee Kwang-guk -- who headed H...
Hyundai Capital’s European operations given approval

Oct 17, 2016

[ THE INVESTOR ] Hyundai Capital announced on Oct. 17 that the European Central Bank has approved its application to establish Hyundai Capital Bank Europe. The automobile financing arm of the Hyun...
Hyundai Heavy wins tanker contract

Oct 17, 2016

[ THE INVESTOR ] Hyundai Heavy Industries has won a contract for two oil tankers from a Greek shipping company. According to industry sources, HHI was signed on my Greece’s Enterprises Shipping ...
State-run banks may inject over W3tr into DSME

Oct 17, 2016

[ THE INVESTOR ] State-run banks are expected to raise more than 3 trillion won (US$2.64 billion) to prevent Daewoo Shipbuilding and Marine Engineering from being delisted. According to finance in...