Articles by 박윤아
박윤아
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IBK issues refund guarantee for Samsung Heavy
[THE INVESTOR] The Industrial Bank of Korea has issued a refund guarantee to Samsung Heavy Industries that has just won a new order in almost one year. The shipyard secured a 420 billion won (US$380million) deal late last month to build two LNG carriers with a European customer. The deal came as local shipyards are suffering from a sharp decline in new orders amid a protracted industry-wide slump.Samsung Heavy is also set to win more deals valued at a combined 3 trillion won, including a contra
Oct. 4, 2016
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Korea Line signs charter contract worth W78b
[DISCLOSURE] Korea Line (005880) announced on Sept. 30 that it has signed a 77.89 billion won (US$70.53 million) charter contract with a ship owner in Asia. The contract amount is equivalent to 14.65 percent of the company’s consolidated sales last year. The contract lasts from April 30, 2017 to June 29, 2024. The company also announced that it has decided to invest 66.8 billion won in building two 50,000 DWT (dead weight tonnage) bulk carriers. The ship delivery date is June 30, 2017. By Park Y
Sept. 30, 2016
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Park to meet SoftBank head over bilateral cooperation
[THE INVESTOR] South Korean President Park Geun-hye will meet Masayoshi Son, the chairman of Japanese telecom giant SoftBank, on Sept. 30 to discuss bilateral cooperation on investment and new industries.During her talks with the businessman, also known by his Korean name Son Jeong-ui, Park plans to ask SoftBank to deepen cooperation with South Korean firms in finding new growth engines, creating new jobs and expanding its investment in high-tech areas such as robotics, artificial intelligence
Sept. 30, 2016
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1,460 more remote villages to have broadband internet
[THE INVESTOR] A total of 1,460 remote farming and fishing villages will have broadband Internet by the end of November, according to ICT and Future Planning on Sept. 30. Since 2010, the ministry, local governments and broadband internet operators have built high-speed Internet networks in remote villages, with the aim of bridging the digital divide.Of 13,217 remote villages with fewer than 50 households each, broadband internet networks were installed in 10,696 villages as of last year. This ye
Sept. 30, 2016
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Preorders for Renault Samsung’s new SUV top 10,000 units
[THE INVESTOR] Renault Samsung Motors said on Sept. 30 that the preorders of the QM6, to be released in October in South Korea, has surpassed 10,000 units in a month.The new version of its QM5 SUV was unveiled at the Beijing auto show in April. The QM5 is being marketed as the Renault Koleos overseas. Renault Samsung’s new SUV will compete with rival models, such as Hyundai Motor’s Santa Fe and Tuscon, and Kia Motors’ Sorento and Sportage in the midsized SUV market, which has shown strong growth
Sept. 30, 2016
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Manufacturing jobs drop to lowest in 3 years
[THE INVESTOR] The number of manufacturing jobs in South Korea has decreased to the lowest in nearly three years, according to Statistics Korea on Sept. 30. A total of 4.41 million workers were employed in the manufacturing sector in August, accounting for 16.7 percent of all South Korean employees. It marks the lowest since October 2013, when the ratio stood at 16.5 percent.The proportion rose close to 18 percent early this year, but it has been on the decline since recording 17.5 percent in Ma
Sept. 30, 2016
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Samsung Heavy bags W420b deal for 2 LNG carriers
[THE INVESTOR] Samsung Heavy Industries had inked a 420 billion won (US$380 million) deal to build two LNG carriers, the first in almost one year, the company said on Sept. 30. The deal with a European customer came as local shipyards are suffering from a sharp decline in new orders amid a protracted industry-wide slump. A LNG carrier made by Samsung Heavy IndustriesSamsung Heavy is also set to win more deals valued at a combined 3 trillion won, including from a contract to build offshore facili
Sept. 30, 2016
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670,000 households cannot pay electricity bill
[THE INVESTOR] A total of 670,000 households were unable to pay their electricity bill as of July, according to the state energy supplier‘s report on Sept. 30. The households owed 83.1 billion won (US$75.8 million) in unpaid power bills. The number of households in arrears is relatively higher compared with 629,000 at the end of December in 2012, 589,000 in 2013, 597,000 in 2014 and 636,000 in 2015, according to the report submitted by the Korea Electric Power Corp. to the National Assembly ener
Sept. 30, 2016
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Korea’s industrial output rises in Aug.
[THE INVESTOR] South Korea‘s industrial output rose for the fourth consecutive months in August, according to a government report on Sept. 30. Production in the mining, manufacturing, gas and electricity industries rose 2.3 percent last month from a year ago, according to the report by Statistics Korea. The August figure marks the fourth straight month of advance, following a 4.7 percent jump in May, a 0.8 percent gain in June and a 1.6 percent rise in July.From a month earlier, industrial outpu
Sept. 30, 2016
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Korea’s manufacturing sentiment to improve next month
[THE INVESTOR] South Korean manufactures’ business sentiment is expected to slightly improve in October, according to central bank data on Sept. 30. The business survey index of manufacturing firms came to 75 in October, up from 74 a month earlier, according to the Bank of Korea.A reading above 100 means optimists outnumber pessimists, while a reading below the benchmark means the opposite.An index measuring local firms’ sentiments toward exports came to 85 for October, down from 87 for Septembe
Sept. 30, 2016
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Firms taking steps to uphold stringent new anti-graft law
[THE INVESTOR South Korean corporates appear to be spearheading change in the local hospitality culture now that a controversial anti-corruption law has taken effect. Companies are bent on providing workers, especially those in charge of dealing with the government, the National Assembly and the press, with detailed legal information on the so-called Kim Young-ran Act. The legislation affects millions of South Korean civil servants, journalists and school teachers. According to the law, they can
Sept. 29, 2016
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Retail sales increase in Aug.
[THE INVESTOR] Major department stores sales increased in August compared to last year, according to government data on Sept. 29. The combined sales of three department stores -- Hyundai, Lotte and Shinsegae -- gained 4.1 percent on-year last month, according to the data compiled by the Ministry of Trade, Industry and Energy.Their sales of groceries jumped 14.5 percent on-year as a number of people purchased foodstuffs as gifts ahead of Chuseok that fell on Sept. 15.However, those of major disco
Sept. 29, 2016
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Korean economy to expand over 2% this year
[THE INVESTOR] South Korea’s economy is likely to grow 2.3 percent this year, slightly falling from last year’s 2.6 percent growth, a private think tank said on Sept. 29. According to the Korea Economic Research Institute, the economy will see its growth further decelerate to 2.2 percent next year.“Amid a slowdown in the global economy, a recovery in domestic demand is weakening in the face of ongoing corporate restructuring,” said the institute.The South Korean economy is faced with post-Brexi
Sept. 29, 2016
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New generation light source facility launched in Pohang
[THE INVESTOR] A light source facility that emits X-ray lasers that are 10 billion times brighter than before, was launched in the southeastern city of Pohang on Sept. 29.Technically known as synchrotron radiation, the light source can measure and analyze compositions in femto and nano units of a second. South Korea is the third country to have the light source facility. The facility was built at the Pohang Accelerator Laboratory of the Pohang University of Science and Technology, located in th
Sept. 29, 2016
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SME workers paid 60% of bigger firms
[THE INVESTOR] The average salary at small and medium enterprises in South Korea was 60 percent that of bigger conglomerates in 2015, according to records on Sept. 29. Statistics provided by the Small and Medium Business Administration to the parliamentary trade committee said the monthly average last year at smaller firms was 2.93 million won (US$2,674), approximately 60.6 percent of the 4.85 million won for their colleagues at conglomerates.The wage gap between them has not changed much for fi
Sept. 29, 2016
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