Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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Seoul alerts overseas missions to NK terror threats
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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SKT's bid to take over No. 1 cable TV operator officially terminated
Top mobile carrier SK Telecom Co.'s bid to buy the country's leading cable TV operator was officially terminated following the antitrust watchdog's earlier decision to reject the plan, the science ministry said Thursday.The Ministry of Science, ICT and Future Planning said it reached a decision not to allow SK Telecom's bid to purchase CJ Hellovision Co. from its parent firm CJ O Shopping, officially terminating the evaluation process of what would have been one the country's biggest mergers and
IndustryJuly 28, 2016
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CJ O’Shopping, Baozun to bring Korean goods to Chinese online shoppers
[THE INVESTOR] CJ Group’s shopping network CJ O’Shopping will join hands with China’s Baozun to launch e-commerce solution business in China for South Korean brands, it announced on July 28. The two companies will invest a total of US$6.7 million and establish a joint venture named BCJ (Baozun-CJ E-commerce) next month, set to start operating in September. CJ will own 49 percent stake and its Chinese partner 51 percent stake.CJ O'Shopping president Heo Min-heoiBased on its local platform network
IndustryJuly 28, 2016
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LG Display to benefit from rising panel demand
[THE INVESTOR] Korean panel maker LG Display may continue to show improved results due to increased prices and strong technology demand, a local brokerage house Eugene Investment & Securities said on July 28. “LG Display’s second-quarter earnings have improved boosted by OLED and quickly stabilizing prices, sporting events, increasing sales of newly launched panels and improved demand in China,” said Lee Jung, an analyst at Eugene Investment. LG Display’s 65-inch Curved Ultra HD OLED TV Panel T
July 28, 2016
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Lower grade bonds soar in H1
[THE INVESTOR] The value of unsecured corporate bonds of BBB or lower ratings issued during the first half of the year has nearly doubled from a year ago, Financial Supervisory Service data showed on July 28.According to the data, the value of BBB or lower bonds issued during the period came to just under 1.39 trillion won (US$1.23 billion). In comparison, the figure for the same period last year is 757 billion won. The rise in BBB or lower corporate bonds is thought to have been fueled by the 1
July 28, 2016
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Five Hyundai, Kia cars named segment leaders in U.S. survey
Five vehicle models produced by South Korean automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. have been named best cars by U.S. consumers, the automakers said Thursday.In a survey conducted by J.D. Power and Associates, a U.S. marketing information service firm, the Hyundai Tucson was named the best small SUV, beating the Volkswagen Tiguan and all other competitors in the segment, according to Hyundai.The survey was conducted on those who purchased a new car between Novembe
MobilityJuly 28, 2016
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Corporate bond issuance dips amid financial woes
South Korean firms sharply reduced bond issuance in the first half of 2016, yet another sign of their worsening financial health amid a drawn-out economic slump, a government tally showed Thursday.The value of ordinary corporate bonds issued in the six months totaled 18.9 trillion won ($16.7 billion), down 18.9 percent from a year earlier, according to the Financial Supervisory Service.They preferred gilt-edged bonds. Among non-guaranteed corporate bonds issued during the period, worth 18.87 tri
July 28, 2016
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Naver's Q2 profit soars as mobile ad revenue grows
Naver Corp., South Korea's largest internet portal, said Thursday its second-quarter net profit jumped 71.8 percent from a year earlier, thanks to a solid gain in mobile ad revenue. Naver reported a net profit of 213.2 billion won ($189.2 million) for the April-June quarter, compared with a profit of 124 billion won for the same period last year. Second-quarter operating profit rose 44 percent on year to 272.6 billion won. Sales gained 26.3 percent to 987.2 billion won, the company said in a reg
July 28, 2016
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Smartphone sales boost Samsung's profit to 2-year high
Samsung Electronics Co. reported its biggest quarterly operating profit in more than two years Thursday, boosted by robust sales of its latest premium smartphone and cost-cutting efforts. The world's largest maker of smartphones and semiconductors earned 8.14 trillion won ($7.19 billion) in the April-June period, up 18.06 percent from the same period the year before. Second-quarter net profit rose 1.65 percent on year to 5.84 trillion won. Sales gained 4.94 percent to 50.9 trillion won, Samsung
July 28, 2016
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Prosecutors seek arrest warrant for ex-VW Korea chief
[THE INVESTOR] Prosecutors on July 27 filed for an arrest warrant for Park Dong-hoon, Volkswagen Korea’s former chief executive officer, over the German automaker’s emission rigging scandal. Park has been charged with fabrication of private documents, obstruction of justice and violation of the Clean Air Conservation Act. The 63-year-old headed the Korean unit from its initiation in 2005 to 2013 before moving to Renault Samsung Motors as sales chief. He took helm of the Korean unit of France’s R
MobilityJuly 28, 2016
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Galaxy S7 drives up Samsung’s Q2 profit
[THE INVESTOR] Samsung Electronics said July 28 that its operating profit increased 18 percent on-year to 8.14 trillion won (US$7.19 billion) in the April-June period on the back of strong sales of the firm’s smartphones, the Galaxy S7 and its Edge variant in particular.Quarterly revenue increased 5 percent to 50.94 trillion won from a year earlier. Samsung’s IT & Mobile Communications division, in charge of the smartphone business, posted a whopping 4.32 trillion won operating profit, up from 2
TechnologyJuly 28, 2016
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Ssangyong, Jaguar to recall vehicles
[THE INVESTOR] Ssangyong Motor will recall over 2,600 units of its flagship Korando C sport utility vehicle sold here for faulty seatbelts, the Transport Ministry said on July 28.The car is one of six vehicle models, including two types of two-wheeled vehicles and a commercial truck, from five separate manufacturers that failed government tests, according to the ministry.The latest government test involved 16 vehicle models that were sold under a self-certification system. The government regular
IndustryJuly 28, 2016
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3-D memory war intensifies
[THE INVESTOR] The world’s memory sector is sizzling as more global chipmakers are vying to take the upper hand in the development of a more advanced vertical, or 3-D NAND flash memory chip.First mass-produced by Samsung Electronics in 2013, the 3-D NAND memory, which stacks cells vertically inside for the sake of space efficiency, has gone through a technical makeover in the past three years.Samsung Electronics’ V-NAND memory chipThe first generation chip has 24 layers of cells while the second
TechnologyJuly 28, 2016
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Prosecutors open probe into Samsung chairman’s prostitution case
[THE INVESTOR] South Korean prosecutors have launched an investigation into a video clip that captured Samsung Electronics chairman Lee Kun-hee allegedly buying sex from prostitutes.The Seoul Central District Prosecutors’ Office said on July 27 that the case is being allocated to a division specializing in crimes against women and children. So far, three complaints related to the case have been filed by a civic group and an Anyang resident surnamed Park who asked prosecutors to clarify the suspi
IndustryJuly 28, 2016
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Naver’s Q2 earnings surge 44% on upbeat overseas sales
[THE INVESTOR] South Korean Internet giant Naver on July 28 posted its second-quarter operating profit of 272.7 billion won (US$240 million), up 44 percent from a year ago, largely buoyed by soaring overseas sales of its immensely popular LINE mobile messenger. Revenue also soared 26.3 percent to 987.3 billion won during the April-June period.Overseas sales saw a whopping 43.1 percent growth to 349.7 billion won compared to a year ago, making up 35 percent of the company’s total quarterly earnin
TechnologyJuly 28, 2016
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HHI to have idle docks from H2 2017
[THE INVESTOR] Hyundai Heavy Industries will have idle docks from the second half of 2017 due to the shortage of orders, the company’s chairman Choi Kil-seon said on July 27.In an open letter to the employees, Choi said that work is dwindling across the board, and called on the union to call off its strike. “Some of the docks becoming idle will be a reality from the second half of next year,” Choi said. Ships are being built at Hyundai Heavy Industries' docks. / The Investor“From September, the
IndustryJuly 28, 2016
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Korea's car exports sink 13.1% in Q2
Exports of South Korea-made cars sank 13.1 percent in the second quarter from a year earlier due mainly to contracted demand from emerging countries and intensified market competition, customs data showed Thursday.The total value of car exports reached $9.6 billion over the April-June period, down 13.1 from $11.1 billion tallied a year earlier, according to the data by the Korea Customs Service.Meanwhile, that of imports jumped 21.5 percent on-year to $3 billion from $2.4 billion over the cited
MobilityJuly 28, 2016
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Seoul shares open tad higher on FOMC meeting
South Korean stocks opened slightly higher Thursday as the U.S. Federal Open Market Committee meeting results were in line with market expectations, analysts said.The benchmark Korea Composite Stock Price Index added 2.29 points, or 0.11 percent, to 2,027.34 in the first 15 minutes of trading.Tech shares were mixed, with Samsung Electronics inching down 0.20 percent and top chipmaker SK hynix remaining unchanged. LG Electronics also remained unchanged.As widely expected, the Federal Reserve deci
July 28, 2016
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Ssangyong, Jaguar cars recalled over safety and fuel efficiency issues
Ssangyong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., will recall over 2,600 units of its flagship Korando C sport utility vehicle sold here for faulty seatbelts that may be too loose to keep passengers safe, the transportation ministry said Thursday.The car is one of six vehicle models, including two types of two-wheeled vehicles and a commercial truck, from five separate manufacturers that failed government tests, according to the Ministry of Land, Infrastruct
MobilityJuly 28, 2016
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Samsung C&T named top Korean builder in 2016
Samsung C&T Corp., the largest builder in South Korea in terms of sales, has been named the best builder in terms of building capacity, the government said Thursday.The construction unit of the country's top conglomerate Samsung was ranked top among 56,067 local construction firms evaluated, according to the Ministry of Land, Infrastructure and Transport.Those evaluated account for about 90 percent of 62,533 construction firms here.Samsung C&T took the top position for the third consecutive year
IndustryJuly 28, 2016
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KPG members work to enhance EMS service
The Kahala Posts Group, an alliance of 10 postal services, kicked off its 14th annual meeting in Seoul on Wednesday.At the meeting, chief executives from Korea, the United States, China, Japan and six other countries discussed ways to improve the quality of EMS, or express mail service, and exchanged ideas to further develop delivery service for electronic commerce, according to the Korea Post. Chief executives pose at the 14th Kahala Posts Group meeting in Hotel Shilla, central Seoul, Wednesda
July 27, 2016