Articles by 김화균
김화균
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Samsung to sell small stake in Dutch chip equipment maker
[THE INVESTOR] Samsung Electronics has decided to sell a part of its stake in Dutch chip equipment maker ASML Holding, a company official said on Sept. 8. The Samsung official described the decision as a “usual business judgment” and it would not affect a strategic partnership between the two companies. Financial details of the planned stake sale were not disclosed, but Samsung is said to sell a 1.45 percent stake, or 6.03 million shares, in ASML for about US$680 million. Samsung acquired a 2.9
Sept. 8, 2016
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CJ Korea Express acquires Malaysia’s No. 2 logistics firm
[THE INVESTOR] South Korea’s largest logistics company CJ Korea Express said on Sept. 8 it has bought Malaysia’s No. 2 logistics company to expand its distribution channel in Southeast Asia. CJ Korea Express’ Asian branch bought a 31.5 percent stake in Century Logistics Holdings for 47.6 billion won (US$43.50 million) to become the Malaysian firm’s largest shareholder. Established in 1970, Century Logistics has a nationwide network with eight logistics centers and 600 trucks, posting $80 millio
Sept. 8, 2016
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Korea outlines grand strategy on bio industry
[THE INVESTOR] South Korea outlined grand plans on Sept. 8 to fuel the growth of the country’s bio-health industry, aiming to become a global powerhouse.The comprehensive plan for the next four years was finalized in a meeting presided over by Prime Minister Hwang Kyo-ahn and announced by the Health Ministry.Under the plan, South Korea aims to become a global biotech and medical industry hub by investing more in research and development on medicine, medical devices and cosmetics.The government f
Sept. 8, 2016
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Credit card spending by Chinese in Korea quintuples in 5 years
[THE INVESTOR] Card spending by Chinese travelers in South Korea has risen more than five times over the past five years, data showed on Sept. 8. Chinese nationals spent 4.32 trillion won (US$3.95 billion) with their credit cards during their stays here in the first half of 2016, up from 785.8 billion won four years ago, according to the data compiled by Shinhan Card’s big data center and Korea Culture & Tourism Institute.The growth far surpasses the 2.4 times hike in average card spending by fo
Sept. 8, 2016
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KOSDAQ closes at 667.40 down 5.09 points
[THE INVESTOR] KOSDAQ closed lower at 667.40, down 5.09 points (0.76%) on Sept. 8.
Sept. 8, 2016
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KOSPI closes at 2,063.73 up 1.85 points
[THE INVESTOR] KOSPI closed higher at 2,063.73, up 1.85 points (0.09%) on Sept. 8.
Sept. 8, 2016
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Korea to sell W2tr Treasurys this month
[THE INVESTOR] South Korea on Thursday said it will issue 2 trillion won (US$1.8 billion) worth of Treasury bills this month to help operate state funds with stability.The Finance Ministry announced that it will auction 1 trillion won worth of bills with a maturity of 63 days on Sept. 21, followed by the sale of the rest a week later.The government has regularly issued Treasury bills for short-term borrowing to facilitate budget spending and cover temporary financial shortfalls.The planned sale
Sept. 8, 2016
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Money supply up 7% in July: BOK
[THE INVESTOR] The money supply in South Korea grew by 6.9 percent on-year in July due to increased deposits by households and companies, the central bank said on Sept. 8.The nation’s “M2” totaled 2,348.3 trillion won (US$2,147 billion) in July, according to the Bank of Korea. It marks a 0.7 percent rise from June.M2 is a measure of the money supply counting the currency in circulation, including bank debentures and deposits with a maturity of less than two years, along with stock investments. I
Sept. 8, 2016
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[GRAPHIC NEWS] Household debt rises by W9tr in August
[THE INVESTOR] South Korea’s household debts rose in August despite the government’s efforts to tackle the potential risks, central bank data showed on Sept. 8.The balance of household loans extended by local banks amounted to 682.4 trillion won (US$623 billion) as of the end of August, up 8.7 trillion won from a month earlier, according to the Bank of Korea.Of the aggregate debts, mortgage loans extended by banks rose by 6.2 trillion won to 512.7 trillion won.Last month, the government said it
Sept. 8, 2016
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Korea considers banning Samsung Galaxy Note 7 on flights
[THE INVESTOR] Korea’s Ministry of Land, Infrastructure and Transport is considering banning Samsung Electronics’ Galaxy Note 7 smartphone on flights following its global recall on exploding batteries. A ministry official said on Sept. 8 that the ministry plans to meet Samsung officials to be briefed on possible risks of the phone being carried onboard flights. Samsung Galaxy Note 7“We will make a decision as soon as possible but nothing has been decided yet,” the official said. Industry watcher
Sept. 8, 2016
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Korean Air expands code sharing with Delta Air
[THE INVESTOR] Korean Air will expand its code sharing agreement with Delta Air Lines as part of efforts to boost its revenue, the top flag carrier said on Sept. 8.In a deal with the major US air carrier, Korean Air will increase the number of its code sharing routes from the current 32 to 159 starting in November, according to the company. Code sharing allows an air carrier to sell its tickets on another’s flight. It is aimed mostly at boosting revenue by increasing passenger seats and flight d
Sept. 8, 2016
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Asset management firms’ Q2 net profits up 20%
[THE INVESTOR] The combined net profits of asset management companies in South Korea jumped nearly 20 percent on-quarter during the April-June period this year, government data showed on Sept. 8.The number of asset managers operating here rose to 138 in the second quarter from 115 in the previous quarter, according to the Financial Supervisory Service.They were managing 871 trillion won (US$799 billion) of assets as of end-June, up 3 percent from 846 trillion won three months earlier.The aggrega
Sept. 8, 2016
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KOSDAQ opens at 673.60 up 1.11 points
[THE INVESTOR] KOSDAQ opened higher at 673.60, up 1.11 points (0.17%) on Sept. 8.
Sept. 8, 2016
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KOSPI opens at 2,064.96 up 3.08 points
[THE INVESTOR] KOSPI opened higher at 2,064.96, up 3.08 points (0.15%) on Sept. 8.
Sept. 8, 2016
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Korean economy to grow less than 3% until 2019: S&P
[THE INVESTOR] The South Korean economy could grow at an average rate of 2.9 percent per year until 2019, a senior official of global rating agency Standard & Poor’s said on Sept. 7.Kim Eng Tan, senior director of Asia-Pacific sovereign ratings at S&P, made the assessment citing South Korea’s has globally competitive companies and its industrial sector.The rate is higher than those of advanced countries and it is also higher than the 2.6 percent growth recorded last year.His assessment was inclu
Sept. 7, 2016
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