Chinese firm fined for false disclosure

South Korea's bourse operator imposed a heavy penalty on a Chinese company traded on the country's stock market on Wednesday, for a false regulatory filing that could lead to its delisting.The Korea Exchange designated China Ocean...

Samsung Life’s product kills two birds with one stone

Samsung Life Insurance is offering a variable universal whole life product to customers who want lifelong death coverage and a steady flow of income after retirement in one plan, the company said Wednesday. The product, launched i...

Hyundai Heavy turns to black in Q2 amid reduced costs

Hyundai Heavy Industries Co., a major South Korean shipbuilder, reported Wednesday that it swung to a net profit during the second quarter thanks in part to reduced costs and improvement in its non-shipbuilding business. Net incom...

Former chief of Lotte's ad firm summoned over alleged slush fund

Prosecutors summoned a former chief of Daehong Communications Inc., Lotte's advertisement affiliate, on Wednesday for questioning over the alleged creation of a slush fund, as they widened their probe into the country's fifth-larg...

Korea's imports of Norwegian mackerel up 73% in H1

South Korea's imports of Norwegian mackerel rose 73 percent in the first six months of this year from a year earlier, data showed Wednesday, as the Asian country banned catches of mackerel in its waters for one month during the fi...

Extra budget vital for job creation: Park

President Park Geun-hye said Wednesday that the extra budget submitted to parliament will play a crucial role in bolstering job creation, calling on lawmakers to lend their support by promptly approving the stimulus plan."The gove...

SK Telecom steps up development of advanced AR, VR tech

South Korean network operator SK Telecom said Wednesday it has partnered with Israel-based 3-D sensor processing developer Inuitive Ltd. to step up its development of solutions based on augmented and virtual reality technology.SKT...

LG to invest W2tr in OLEDs

LG Display’s latest plan to make an additional investment in plastic organic light-emitting diodes indicates that Samsung and LG would be double vendors for Apple’s new iPhone to be unveiled in 2018, industry sources said Wednes...

Minister issues warning against strike

Finance Minister Yoo Il-ho said Wednesday that the government will deal with the laborers of conglomerates under a creditor-led workout going on strike. In an economic-related ministerial meeting in Seoul on Wednesday, the finance...

Builders see rise in Q2 operating profits

Korea’s major construction firms have seen a rise in their operating profits of the second quarter, thanks to the jump of orders and expansion to the overseas market, industry analysts said. Hyundai Engineering and Construction s...

Naver to spin off mobile video messaging app Snow

South Korean Internet giant Naver said Wednesday that it will spin off its mobile video messaging app Snow as an independent company next month, encouraged by the app’s surging popularity across Asia.Camp Mobile, Naver’s mobile ...

Samsung Securities helps nonprofits better manage funds

Samsung Securities hosted a forum on July 19 to advise nonprofit organizations to take a firm grip of their funds amid low interest rates. The low base rate has recently plunged to 1.25 percent, sounding the alarm for nonprofit or...

Korea‘s overseas afforestation makes progress

The Korea Forest Service has made significant progress in developing forest resources abroad in order to secure long-term, stable lumber resources and expand carbon sinks to cope with global climate change. The KFS’ efforts have ...

Daewoo boosts presence in energy infrastructure

Korean builder Daewoo Engineering & Construction is boosting its efforts in the energy field, with various projects in both fossil fuel and renewable fields. Last year, the company mapped out a long-term plan to become a “global ...

More than 60% of S. Korean firms’ subsidiaries based abroad

[THE INVESTOR] More than 60 percent of listed South Korean companies’ subsidiaries are based overseas, Financial Supervisory Service said on July 27.According to the FSS, 6,330 of 10,327 subsidiaries of listed companies are based...