Articles by 박윤아
박윤아
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Local brand Golden Blue ranks No. 2 whisky in Korea
[THE INVESTOR] Local brand Golden Blue has maintained its No. 2 spot in Korea’s whisky market in the first half of the year, the company said on July 7.The brand which was released in 2009 by a fledgling Korean distiller based in the southeastern port city of Busan, has been increasingly widening its base among whisky lovers who prefer a mild taste and affordable price tag.The Korean whisky maker said its sales surpassed Pernod Ricard’s Imperial in December for the first time to take second plac
July 7, 2016
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Samsung Heavy workers stage 4-hour strike
[THE INVESTOR] Samsung Heavy Industries workers went on a partial strike on July 7, to protest the company’s tough restructuring plan. It marked the first time that a troubled South Korean shipbuilder has faced a labor dispute.Earlier this week, the group of workers at the company’s shipyard in Geoje, South Gyeongsang Province, voted to launch the strike for four hours till 5 p.m.Some 5,400 members of the so-called “labor council,” joined the strike. Samsung Heavy, a unit of the country’s top co
July 7, 2016
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Nexon to release ‘Heroes of Incredible Tales’ in 140 nations
[THE INVESTOR] South Korea’s leading online game maker, Nexon is set to launch its new flagship mobile game in 140 countries the company said on July 7. As of April, the action role-playing game for mobile platforms “Heroes of Incredible Tales” recorded more than 5 million downloads in South Korea. Riding on that popularity, Nexon said it will offer the game in 140 nations worldwide in 10 languages including English, Chinese, German and French. Nexon's new flagship mobile game HIT / NexonThe gam
July 7, 2016
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8 chaebol rely on cross-shareholding: FTC
[THE INVESTOR] Eight chaebol rely on controversial cross-shareholding among their affiliated companies to strengthen their owner families’ control over the entire group, the antitrust watchdog said on July 7.They are Samsung, Hyundai Motor, Lotte, Hyundai Heavy, Daelim, Hyundai Department Store, Yong Poong, and Hyundai Devopement Group.Korean conglomerates are accused of having wielded extra influence over their subsidiaries through complicated intra-group shareholding arrangements. The Fair Tra
July 7, 2016
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S. Korea, France to discuss nuclear energy partnership
[THE INVESTOR] South Korea is set to hold working-level talks with France this week to promote their partnership in nuclear energy.The two-day bilateral “joint coordinating committee” meeting is due to open in Seoul later in the day, according to the Ministry of Science, ICT and Future Planning.It would mark the 22th biennial session since the two sides launched the committee on nuclear energy cooperation in 1982.The two sides will focus on three main fields: R&D, nuclear safety and industry, a
July 7, 2016
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Chinese biggest foreign shoppers in Seoul: survey
[THE INVESTOR] Chinese tourists are the biggest shoppers in Seoul by spending an average of more than 2 million won (US$1,730) per person, a think tank survey said on July 7. According to the outcomes of the poll of 1,045 foreign tourists who visited the capital last December, they spent an average 1.06 million won each on shopping. The Seoul Institute conducted the survey. Chinese tourists are the biggest shoppers in Seoul.Chinese tourists were the biggest spenders with 2.13 million won per ca
July 7, 2016
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Gov’t, ruling party agree to cut interest on tuition loans
[THE INVESTOR] The Education Ministry and the ruling Saenuri Party have agreed to cut interest rates on tuition loans to ease the financial burdens of students, the National Assembly’s Education Committee said on July 7.Following the decision, the interest rates on tuition loans will be revised down to 2.5 percent compared to the current 2.7 percent. The move will help students save 16.5 billion won (US$14.2 million) annually, the committee said. The policy will go into effect starting the secon
July 7, 2016
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Supermarkets show sluggish growth in June
[THE INVESTOR] Leading supermarkets are likely to record sluggish growth. despite expectations that that there will be big pickup from last year, when the nationwide scare from a respiratory disease slowed sales, according to industry sources on July 7.Although not official, all three major supermarket chains -- Lotte Mart, E-mart and Homeplus -- are estimated to have suffered either negative or miniscule at best growth in June compared with the same month last year.Sources at Lotte Mart put Jun
July 7, 2016
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Lotte Foundation chief arrested amid bribery scandal
[THE INVESTOR] The head of Lotte Foundation and elder sister of the Lotte Group chairman Shin Dong-bin was arrested by prosecutors on July 7 for bribery as they widened their probe into the country’s fifth-largest conglomerate. The Seoul Central District Court issued a warrant to formally detain Shin Young-ja, 73, over suspicions she received bribes from the former chief of a local cosmetics brand who is at the center of a lobbying scandal that is rocking the country’s legal sector.The head of L
July 7, 2016
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KOTRA urges enhanced energy cooperation with Mongolia
[THE INVESTOR] Enhanced economic cooperation between South Korea and Mongolia, especially in the energy and natural resources sector, will help ensure their joint development, a trade promotion agency said on July 7.In a report, the Korea Trade-Investment Promotion Agency, or KOTRA, insisted now was the right time for South Korea to boost its investment in the East Asian country as Mongolia is increasingly opening up its energy market in the face of a prolonged slump.“Mongolia is a high-risk mar
July 7, 2016
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Sales ban on Nissan Qashqai temporarily lifted
[THE INVESTOR] The Environment Ministry was ordered by a local court on July 6 to temporarily suspend the sales ban on a compact crossover utility vehicle sold by the local unit of Japanese carmaker Nissan Motor.The Seoul Administrative Court accepted the request for suspension of execution filed by Nissan Korea against the environment minister and the chief of a state-run environmental research center.In June the ministry slapped fines of 340 million won (US$286,000) on Nissan Korea and banned
July 7, 2016
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No. of wealthy Koreans surged in 2015
[THE INVESTOR] South Koreans with financial assets worth more than 1 billion won (US$860,000) rose 15.9 percent last year from a year earlier mainly due to their equity and property investments, a private think tank report said on July 6.The number of such Koreans climbed to 211,000 in 2015 from 182,000 the previous year, according to KB Financial Group’s research institute.“In the first half of last year, ample liquidity was injected into the markets to help support growth. A rally in the stock
July 6, 2016
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LG CNS to build ‘smart farm’ on reclaimed land
[THE INVESTOR] LG CNS will build a farming complex based on information and communications technologies on a vast tract of reclaimed land on the nation’s southwest coast, the IT affiliate of LG Group said on July 6. The complex, dubbed “Smart Biopark,” will span about 76 hectares in the southwestern coastal area of Saemangeum, the LG Group said. The farm’s environment, including humidity and temperature, will be managed by mobile and computer devices.LG CNS said it will invest nearly 380 billion
July 6, 2016
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Gov’t lures more private investment in railways
[THE INVESTOR] Private investors will be allowed greater access to Korea’s largely state-run railway systems, the government said on July 6.This move is aimed at making up for recent government budget cuts while ensuring the steady and speedy development of the railway system.The move to attract up to 20 trillion won (US$17.2 billion) in private investment by 2025 was endorsed at a Seoul meeting chaired by Finance Minister Yoo Il-ho.Under the approved plan, private investors and companies will b
July 6, 2016
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FTC closes probe on banks’ rate-rigging allegations
[THE INVESTOR] The Korea Fair Trade Commission has closed a probe into years-long allegations that six local commercial banks fixed their certificate of deposit rates citing a lack of evidence, the antitrust agency said on July 6.Six major banks including Shinhan Bank, Kookmin Bank and Woori Bank had allegedly colluded to rig the CD rate to be at a higher level than the market price between 2009 and 2012, while the central bank started to take the expansionary monetary policy in 2012.The average
July 6, 2016
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