Articles by 박윤아
박윤아
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Tire-makers slow to cut prices, despite plunging costs
[THE INVESTOR] South Korea’s big three tire-makers have been reluctant to initiate big price cuts despite the recent tumble in costs of rubber and other raw materials, data showed Aug. 25.The tire companies -- industry leader Hankook Tire, No. 2 Kumho Tire and Nexen Tire -- reduced their tire prices 0.9 percent to 2.5 percent in 2015 from the previous year, according to the companies’ 2015 business reports. Prices of their tires ranged from 50,000 won (US$44.60) to 70,000 won last year.In contra
Aug. 25, 2016
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Koren PM renews calls to pass extra budget
[THE INVESTOR] South Korean Prime Minister Hwang Kyo-ahn called again Aug. 25 for the prompt passage of an extra budge plan, stressing further delays would likely complicate efforts to create jobs and reinvigorate the economy. Earlier this month, the ruling and opposition parties agreed to put an 11 trillion won (US$9.82 billion) extra budget bill to a vote on Aug. 22. But they failed to meet the time line amid differences over the selection of witnesses for parliamentary hearings on the restruc
Aug. 25, 2016
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EO Technics signs nondisclosure supply contract
[DISCLOSURE] EO Technics (039030), a laser processing equipment company, announced on Aug. 24 that it has signed a contract to provide its equipment. The details of the contract will remain undisclosed until July 2017 due to a nondisclosure agreement clause for trade secrets.By Park Yuna (yunapark@heraldcorp.com)
Aug. 24, 2016
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W Concept decides on W10b capital increase
[DISCLOSURE] ISE Commerce (069920) said on Aug. 24 that its subsidiary W Concept has decided on a capital increase worth 10 billion won (US$8.9 million). A total of 96,000 shares will be newly issued for third party allotment. It will also issue 24,000 shares worth 2 billion won to offer to stakeholders. The issue price for the new stock is 83,333 won per share.By Park Yuna (yunapark@heraldcorp.com)
Aug. 24, 2016
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Samsung Display joins Chinese firms on curved panels
[THE INVESTOR] Samsung Display announced on Aug. 24 that it has forged an alliance with sister company Samsung Electronics along with Chinese TV and panel manufacturers to further cooperation on expanding the curved panel industry.The agreement was made at a forum held by Samsung Display and the Congressional-Executive Commission on China in Beijing on Aug. 23, the company said.China-based TV manufacturers, including market leader Hisense and panel-makers TCL and Leshi Internet Information & Tec
Aug. 24, 2016
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Invesco Asset Management buys 5% stake in Korea Investment
[DISCLOSURE] Invesco Asset Management, a UK-based investment manager, announced on Aug. 24 that it has acquired a 5.1 percent stake in Korea Investment Holdings (071050) by buying 2,844,160 shares.
Aug. 24, 2016
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Audi to call back over 1,500 A8 cars for coolant issue
[THE INVESTOR] Audi AG will recall some model years of its A8 luxury passenger cars sold in South Korea due to a coolant leak that could cause the car to lose power while driving, possibly leading to accidents, the transportation ministry declared Aug. 24.The local government began investigating possible coolant leaks in the Audi cars in June 2014 following a series of reports from vehicle owners here, according to the Ministry of Land, Infrastructure and Transport.The government confirmed coola
Aug. 24, 2016
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Cracking margins plummet, refiners suffer
[THE INVESTOR] Surging crude oil prices have sent South Korean oil refining companies’ likely profitability tumbling, industry sources said Aug. 24.The benchmark Singapore complex gross refining margin plunged to the US$3 per barrel range this month, from US$4.80 in July, after hovering at US$9.90 in January, according to the sources. Singapore is the regional trading hub of the benchmark Dubai crude.The margin is the difference between the total value of petroleum products coming out of an oil
Aug. 24, 2016
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S. Korea to meet with Fitch on credit assessment
[THE INVESTOR] The South Korean government will have its annual consultation with Fitch Ratings this week to discuss the country’s credit valuation, the finance ministry said Aug. 24.Led by Thomas Rookmaaker, head of Asia-Pacific sovereigns at Fitch, the delegation will visit South Korea for meetings with the Ministry of Strategy and Finance from Aug. 24 to Aug. 26.Fitch will look into South Korea’s macroeconomic policies, including its mid- and long-term plans, and financial issues like househo
Aug. 24, 2016
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Finance minister pushes parliament for extra budget
[THE INVESTOR] Finance Minister Yoo Il-ho said Aug. 24 the National Assembly must speed through deliberation and pass a plan for additional budget, adding the fund should be distributed with haste to effectively bolster the national economy.Political parties, including the ruling Saenuri Party and main opposition The Minjoo Party of Korea, failed to put the extra budget bill of 11 trillion won (US$9.82 billion) to a vote by Monday’s deadline.Yoo said the parties must promptly pass the bill, noti
Aug. 24, 2016
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Regulations hindering self-driving car development in Korea: report
[THE INVESTOR] South Korea must relax regulations if it intends to support domestic development of self-driving vehicles, a think tank here said Aug. 24.In a report, the Korea Economic Research Institute claimed excessive or unnecessary regulations here created a major hurdle to local developers of self-driving cars, partly by adding to their costs.The report came amid government efforts to help develop and commercialize level 3 self-driving cars by 2020. A level 3 self-driving car refers to an
Aug. 24, 2016
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FTC closes humidifier sterilizer cases on Aekyung, E-mart
[THE INVESTOR] South Korea’s antitrust watchdog closed an inspection on two local humidifier sterilizer manufacturers, citing a lack of evidence, on Aug. 24. The ballooning toxic disinfectant scandal has resulted in numerous deaths and illnesses here. Aekyung Industrial and E-mart had allegedly manufactured and sold humidifier cleansers using the chemicals chloro-methylisothiazolinone and methylisothiazolinone between 2006 and 2011.The Fair Trade Commission had accused the two companies of havin
Aug. 24, 2016
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NPS increases stake in KB Financial Group to 9%
[DISCLOSURE] KB Financial Group (105560) said on Aug. 23 that the National Pension Service has acquired 1,291,540 shares, increasing its stake in the company to 9.53 percent.By Park Yuna (yunapark@heraldcorp.com)
Aug. 23, 2016
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Duty-free sales highest ever in July: data
[THE INVESTOR] Marking an ample bounce back from last year’s deflated numbers during the Middle East respiratory syndrome outbreak, sales of South Korea’s duty-free stores reached their highest point in July, helped by a continuing swell of Chinese travelers, data showed Aug. 23.Sales at duty-free stores nationwide reached US$954 million last month, up 4.1 percent from the previous month’s $869 million, according to data compiled by the Korea Duty Free Association. July sales marked the highest
Aug. 23, 2016
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Samsung draws closer to Intel revenue in Q2
[THE INVESTOR] South Korean tech giant Samsung Electronics narrowed the revenue gap with bigger rival Intel, posting solid gains in semiconductor sales in the second quarter of this year, according to industry data Aug. 23. Samsung’s semiconductor sales rose 11 percent on-quarter to US$10.3 billion for the second quarter, while Intel’s sales fell 1 percent to US$12.9 billion for the same quarter, data compiled by IC Insights showed. In the first quarter, Intel reported US$13.1 billion in sales o
Aug. 23, 2016
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