Articles by 박윤아
박윤아
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NTS may reject Microsoft’s appeal for tax refund
[THE INVESTOR] The National Tax Service is expected to reject an appeal by Microsoft for refund of withholding taxes of 634 billion won (US$575.70 million), according to sources Sept. 22.Microsoft filed complaints last month against the national tax agency seeking a refund of the withholding taxes paid by Samsung Electronics to the NTS for using the software giant’s patents. Samsung is believed to have paid about 1 trillion won to Microsoft for using the U.S. company’s patents in manufacturing s
Sept. 22, 2016
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LG reveals 2-way open door system dryer
[THE INVESTOR] LG Electronics has unveiled a natural gas-powered dryer with a two-way open door system, the company said on Sept. 22Featuring a double-hinge system, the RN10VB dryer with a capacity of 10 kilograms allows users to open its door both vertically and horizontally. The system enables users to easily move clothes through the top to minimize bending and dropping clothes on the floor, according to the company. The drying time for 4 kilograms of clothes is 40 minutes, LG said, and can be
Sept. 22, 2016
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Transport Ministry finds possible source of fire in BMW cars
[THE INVESTOR] The Transportation Ministry has concluded on Sept. 22 that a previously identified fuel leak in BMW vehicles may be the cause of mysterious fires that have broken out in some of the vehicles.Both the German carmaker and the ministry had identified a possible fuel leak in certain model years BMW vehicles, which led to a recall of over 1,700 BMW cars sold here.BMW Korea, the local importer of BMW cars, however, had insisted the fuel leak could not have been the cause of the fires, c
Sept. 22, 2016
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Banks offer refund guarantee for HHI’s new order
[THE INVESTOR] A group of banks, led by KEB-Hana Bank, have offered a refund guarantee for a new order clinched by Hyundai Heavy Industries, industry sources said on Sept. 22.Early last month, HHI, a major shipyard, won a deal from a Greek customer to build two oil tankers. But KEB-Hana Bank and other creditors, increasingly concerned about their credit exposure to the ailing shipbuilders in the country, were reluctant to offer refund guarantees for the order.A refund guarantee issued by a shipy
Sept. 22, 2016
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Reckitt Benckiser CEO apologizes for toxic sterilizers
[THE INVESTOR] The head of Britain-based Reckitt Benckiser formally apologized over its toxic humidifier sterilizers that claimed many lives here, a parliamentary special committee probing the scandal said on Sept. 22. The so-called Oxy humidifier disinfectant case came to light after four pregnant women died of unknown lung problems in 2011. A government-led investigation confirmed a connection between more than a hundred people who died of lung problems and the chemicals used to clean househ
Sept. 22, 2016
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Gas stations shutting down on cutthroat competition
[THE INVESTOR] Many gas stations are shutting down in greater numbers in South Korea due to cutthroat competition, industry officials said on Sept. 22.People had jumped into the filler station business that until a few years ago was highly lucrative. The market entry was made easier in 1995, when the government removed restrictions on the required distance between them, and the number of stations increased yearly until 2010.South Korea had 13,349 gas stations nationwide in 2010, which shrank to
Sept. 22, 2016
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Korean builders’ overseas orders may fall to 10-year low
[THE INVESTOR] The number of overseas orders won by South Korean construction companies is expected to fall this year to the lowest level in a decade, according to a trade association on Sept. 22.This year’s combined overseas orders came to US$18.47 billion by Sept. 21, according to data compiled by the International Contractors Association of Korea.The figure represents 53.7 percent of the $34.59 billion posted during the same period of last year, and also compares with $47.24 billion during th
Sept. 22, 2016
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Hyundai’s annual global auto output capacity to top 9m
[THE INVESTOR] Hyundai Motor Group said on Sept. 22 that its annual global output capacity is expected to reach around 9 million cars aided by the new production facility in China.The automaker’s overall capacity currently stands at 8.48 million units after a new plant in Mexico, which began producing cars earlier in the year, added 400,000 cars to Kia Motors, the smaller of the two carmakers under the group’s wings.Hyundai Motor, the larger affiliate of Kia Motors and top automaker in South Kor
Sept. 22, 2016
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Suprema gets Chinese patent for face recognition technology
[DISCLOSURE] Suprema (236200), a biometrics and security products manufacturer, announced on Sept. 21 that it has earned a Chinese patent for its environment adaptive face recognition technology. By Park Yuna (yunapark@heraldcorp.com)
Sept. 21, 2016
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Overseas Koreans to attend biz conference in Jejudo
[THE INVESTOR] Some 1,000 Korean businesspeople from around the world will hold a meeting on the southern resort island of Jejudo later this month to expand business opportunities, the event’s organizer said on Sept. 21.About 2,000 local businesspeople will also join the 15th World Korean Business Convention under the theme “New Changes & Possibility, Hansang Network” set for Sept. 27-29, the Overseas Koreans Foundation said. Hansang refers to Korean businesspeople. The annual meeting will featu
Sept. 21, 2016
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Cabbage price rise drives up sales of packaged kimchi
[THE INVESTOR] With the record summer heat and drought sending prices of napa cabbage up by more than 230 percent, sales of packaged kimchi have surged, retailers said on Sept. 21. At E-mart, sales of packaged kimchi rose 67 percent so far this month compared to the same period last year, totaling 4 billion won (US$3.58 million), company officials said. The wholesale price of napa cabbages averaged 6,128 won per 10 kilograms before the Chuseok holiday last year. This year, they were priced at 20
Sept. 21, 2016
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S, Korea's top 30 public firms lack female executives
[THE INVESTOR] None of the top 30 public enterprises have female executives, a corporate analyst said on Sept. 21.According to CEO Score, which tracks companies’ performance and management, as of the end of June this year, there were no female executive-level officers among the 139 such officials at the surveyed public firms. There were two women in the C-suite in 2014, but they have retired.The government had said it wants women to fill up to 30 percent of executive posts. The proportion of fem
Sept. 21, 2016
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Emergency goods sales surge after quake
[THE INVESTOR] Sales of emergency goods have visibly increased after the biggest earthquake in the country‘s history last week, retail industry officials said on Sept. 21.Most of the shopping is done through online malls like Gmarket and 11st, according to the officials, with sales of some products rising nearly fourfold.Gmarket said that during the seven days following the Sept. 12 quake in Gyeongju, 371 kilometers southeast of Seoul, sales of emergency supplies, such as descending devices, gas
Sept. 21, 2016
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FSC chief urges bank workers to drop strikes
[THE INVESTOR] South Korea’s chief financial regulator called on the nation’s umbrella bank union on Sept. 21 to withdraw its plan to go on a general strike later this week, citing the “life-or-death” crisis faced by the local banking industry.Financial Services Commission Chairman Yim Jong-yong delivered the message in a meeting with the heads of seven major local banks to discuss ways to deal with the move by the Korean Financial Industry Union. The session was also joined by Zhin Woong-seob,
Sept. 21, 2016
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Fine Holdings’ affiliates swap 70% stake for $770m
[DISCLOSURE] Fine Technix (106240) announced on Sept. 20 that its Hong Kong affiliate Fine Holdings has sold 70 percent stake in its subsidiary FMS (Guangzhou) Electronics to another affiliate Jiangsu Fine DNC for US$ 770 million. By Park Yuna (yunapark@heraldcorp.com)
Sept. 20, 2016
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