[THE INVESTOR] Finance Minister Yoo Il-ho vowed “swift and firm” measures to deal with volatility in financial markets as Britain voted to leave the European Union on June 24. Korea “has faithfully reviewed contingency plans and the government will swiftly and firmly deal with the development if necessary,” he said in a statement, saying that the Brexit is expected to pose “long-term uncertainty” to the world economy and South Korea.  Finance Minister Yoo Il-ho“In the short term, volatility in t

June 24, 2016

[THE INVESTOR] Global sales of ultra-high definition TVs raced past those of full HD ones, an industry tracker said on June 24.According to the data compiled by IHS, the market share of UHD TVs, or 4K TVs, jumped to 47.3 percent in the second quarter of this year from 42.1 percent in the previous quarter.In contrast, that of full HD TVs declined from 42.9 percent to 38.7 percent over the cited period.IHS predicted that the gap will further widen in the third quarter with UHD TVs expected to acco

June 24, 2016

[THE INVESTOR] The earnings of six major Korean construction firms are likely to improve in the second quarter of 2016 from a year ago amid a real estate boom, a report showed on June 24.The firms are expected to post 675.6 billion won (US$587 million) in combined operating profits in the April-June period, up 16.5 percent from a year ago, according to online financial information provider Fn Guide.The six builders include Samsung Engineering, Daelim Industrial, GS Engineering & Construction, Hy

June 24, 2016

[THE INVESTOR] Renault Samsung Motors confirmed that the carmaker’s best-selling compact sport utility vehicle QM3 would not be manufactured in Korea.“The SUV will continue to be imported from Spain,”Park Dong-hoon, Renault Samsung’s chief executive told The Herald Business on June 24. “Producing the QM3 in Korea would lead to an unavoidable rise in its price due to the increase in related costs, such as labor expenses.” Park Dong-hoon, Renault Samsung’s chief executive.Park was directly address

June 24, 2016

[THE INVESTOR] Korean oil refineries and petrochemicals firms are likely to log decent earnings this year due to the widening paraxylene spreads on account of solid demand and dwindling supplies, industry sources said on June 24.Paraxylene, derived from crude oil, is a raw material in producing polyester, widely used for clothes.According to the sources, PX spreads stood at US$382.96 per ton this month. The spreads fell below $300 per ton in 2014 due to a supply increase amid sluggish demand, af

June 24, 2016

[THE INVESTOR] Korea’s top economic policymaker will attend the first annual general meeting of Asian Infrastructure Investment Bank in Beijing, the Finance Ministry said June 23. Besides attending the AIIB meeting on June 25, Finance Minister Yoo Il-ho will also participate in the opening ceremony of the won-yuan direct market there, the ministry said.The minister will deliver a keynote speech at the AGM about the role and future of the China-led infrastructure development bank.The AIIB meeting

June 23, 2016