Most Popular
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Probe of first lady on Dior bag allegations set to begin
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Young Korean doctors seek plan B: cosmetic dermatology or overseas
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South Korea open to Indonesian proposal to cut KF-21 payments
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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Police seek arrest warrant for med student who killed girlfriend
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Coupang earnings hit hard by losses from ailing Farfetch
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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Korea's car exports down 13% in H1
Korea's exports of automobiles plunged more than 13 percent in the first six months of the year on the back of falling demand from new emerging markets, government data showed Sunday.Korean carmakers shipped 1.33 million units of vehicles abroad over the January-June period, down 13.3 percent from a year earlier, according to the data by the Ministry of Trade, Industry and Energy. The government said the decrease followed the sluggish growth in new emerging markets, such as the Middle East, and
MobilityJuly 10, 2016
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Richest 50 Koreans see stock assets fall
The wealth of Korea's 50 richest people by stock assets fell sharply this year, mostly led by the three children of Samsung Group Chairman Lee Kun-hee due to the slumping equity of major affiliates, industry data showed Saturday. The combined equity value of the 50 wealthiest people was tallied at 151.43 trillion won (US$130.88 billion) as of Friday, wiping out 2.65 trillion won from Jan. 4, according to the data compiled by Seoul-based corporate tracker Chaebul.com.Lee Jae-yong, the vice chairm
July 10, 2016
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Korean stocks forecast to remain range bound next week
Korean stocks are expected to remain in a tight range, though they may see upward movement on eased woes from Europe, local analysts said Saturday.The benchmark Korea Composite Stock Price Index closed at 1,963.10 on Friday, down 1.2 percent from a week earlier.The index took off on an upbeat note at the start of the week after recovering from a near crash sparked by Britain's vote to leave the European Union in the previous week.Profit-taking behaviors later faced downward pressure, prompting
July 10, 2016
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Budget carrier passengers top 100 mln in 11 years
The cumulative number of passengers of South Korea's low-cost carriers has topped 100 million since they began service here 11 years ago, data showed Sunday.The number of people using domestic and international flights by local LCCs reached 114.79 million after the first LCC was launched in August 2005, according to the data by the Korea Airports Corp. and the Incheon International Airport Corp.LCC passengers on domestic flights came to 81.32 million during the cited period, and those from inter
IndustryJuly 10, 2016
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S. Korea's tourism deficit edges up this year
South Korea has seen its deficit from tourism inch up in the first five months of the year, central bank data showed Sunday, despite the government's continued efforts to boost the tourism industry.The tourism deficit reached US$1.49 billion in the January-May period, up 1.3 percent from the $1.47 billion from the same period last year, according to the data by the Bank of Korea.The number of visitors plummeted last year following an outbreak of the Middle East Respiratory Syndrome.The bank attr
IndustryJuly 10, 2016
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Brokerages ignored risks to issue buy opinions on short-sold stocks: data
[THE INVESTOR] Local brokerages were reticent to issue sell opinions on stocks that were broadly short-sold, according to industry data on July 8. Of the top 20 stocks that were short-sold based on July 8 disclosures, more than 70 percent of securities firms here issued a buy opinion over the past three months.A total of 35 brokerages had issued neutral opinions, with just one having a sell opinion. Short-selling is essentially betting that a stock’s market value will decline. Investors sell sha
July 9, 2016
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Consumer Reports: Samsung phone not actually water resistant
NEW YORK (AP) – Consumer Reports says a Samsung phone that's advertised as being ``water resistant'' actually isn't.The problem appears limited to the Galaxy S7 Active, a rugged model available only through AT&T in the U.S. The standard S7 and S7 Edge models have the same claims on water resistance and passed tests.Consumer Reports, a non-profit organization that is well respected for its product testing, said Friday that it can't recommend the Active because it doesn't meet Samsung's own claims
TechnologyJuly 8, 2016
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LG Uplus slapped with fine for blocking probe
[THE INVESTOR] Mobile carrier LG Uplus and its executives have been fined with a total of 225 million won (US$194,175) for obstructing a probe conducted by the Korea Communications Commission into the firm’s alleged violation of local telecom laws.The telecom regulator said on July 8 that it decided to impose the fine after LG Uplus refused to submit necessary business documents during its June investigation. KCC was looking into allegations that the mobile carrier had handed subsidies to new c
TechnologyJuly 8, 2016
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MBK Partners denies reports on hefty dividends from Homeplus
[THE INVESTOR] MBK Partners on July 8 denied that the nation's largest equity firm will receive hefty dividends from Homeplus, a cash-strapped supermarket chain that it acquired from Britain’s Tesco last year. Homeplus Holdings, the de facto holding company of Homeplus, has recently decided to pay an interim dividend of 30,612 won (US$26) per share on 700,000 preferred shares owned by its largest shareholder Korea Retail Investment. Following the decision, recent news reports said, MBK, which
IndustryJuly 8, 2016
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[ANALYST REPORT] LG Electronics: Shares at rock bottom, focus on business restructuring
2Q16 operating profit to meet consensus at W591bnMC division to narrow losses based on efficient operations ¨ Fundamentals to improve on ramp-up of EV parts business ¨ Retain BUY for a target price of W77,000LG Electronics is projected to have posted 2Q16 operating profit of W591bn (+17% QoQ, +142.3% YoY) on sales of W14.42tr (+7.9% QoQ, +3.5% YoY), meeting the consensus (W597bn). The figure is expected to have missed our previous projection (W626bn) with the G5 recording sluggish sales and LG I
July 8, 2016
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LG Display to benefit from Samsung Display’s shutdown of LCD lines
[THE INVESTOR] Seoul-based display maker LG Display will likely see its operating profit jump 26 percent to 419 billion won (US$361.6 million) in the July-September period this year thanks to a price increase of liquid-crystal display, according to an investment report.“The price of liquid-crystal displays will continue to be on an upward trend,” said Jeong Won-seok, an analyst from HI Investment & Securities, in his recent investment report, adding the operating income in the latter half would
TechnologyJuly 8, 2016
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Korea’s electricity industry seeks export expansion
[THE INVESTOR] South Korea’s electricity industry aims to increase the amount of exports to US$ 15 billion by end of this year, the state-run corporation said on July 8. The Korea Electric Power Corporation held a conference in Seoul to announce its plans and strategies to expand its presence internationally. Over 200 industry officials from major companies such as POSCO, Korea Trade-Investment Promotion Agency and Korea Hydro and Nuclear Power Corporation attended the event. The electricity exp
IndustryJuly 8, 2016
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[ANALYST REPORT] NAVER: LINE share price hike to bolster NAVER‘s shares
LINE’s IPO is fast approaching. Noting the recent increase in LINE’s IPO price band to JPY2,900~3,300, it appears that the LINE book building process garnered a positive response.2Q16 results to confirm domestic portal growth Our predictions place NAVER’s consolidated 2Q16 sales at W992.5bn (up 27.1% y-y, up 5.9% q-q) and operating profit at W261.6bn (up 56.5% y-y, up 1.9% q-q), with operating profit likely meeting consensus of W266.4bn.NAVER’s 2Q16 domestic advertising sales (which rallied 21.2
July 8, 2016
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LG Electronics eyes high-end market in Latin America
[THE INVESTOR] LG Electronics is seeking expansion in Central and South American markets for high-end home appliances. The company said on July 8 that it opened a four-day event introducing its new lineup in Cancun, Mexico. The event, titled InnoFest, opened on July 6, the company said. LG Electronics, which has been holding InnoFest events across the globe since February, plans to introduce a diverse range of new products in the region this year. The company plans to lead with its new Twin Wash
TechnologyJuly 8, 2016
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Issuance of DLS hits record high in H1
[THE INVESTOR] South Korea’s issuance of derivatives-linked securities has soared to a record level during the first half of the year as the upward trend in oil and gold prices continues, data showed on July 8. A total of 14 trillion won (US$12 billion) worth of derivatives-tied securities has been sold during the January to June period, up 3.3 percent year-on-year, according to data compiled by the Korea Securities Depository.It is the highest half-year figure so far. “Strengthening internation
July 8, 2016
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Korean cosmetics makers fear losses from THAAD deployment
[THE INVESTOR] South Korean retailers and cosmetics companies are closely watching China’s moves after Korea and the US decided to deploy an advance missile defense system in the country on July 8. Neighboring China lodged a swift protest against the decision announced in the morning which is expected to further heighten geopolitical risks. Local cosmetics makers and duty-free shops are on alert as they worry about losing Chinese market and consumers who account for a growing portion of their re
IndustryJuly 8, 2016
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Troubled Korean shipbuilders top June ranking
[THE INVESTOR] Despite the protracted slump in the local shipping industry, South Korean shipbuilders took the largest volume of new orders of vessels in June, industry data showed on July 8. According global research firm Clarkson Research Services, South Korean shipbuilders clinched new contracts of 370,000 compensated gross tonnage, or eight ships, out of the total 960,000 CGT, or 51 ships, in June. DSME shipyardThis is the first time South Korean shipbuilders ranked No.1 in terms of monthly
IndustryJuly 8, 2016
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Samsung makes up 9% of China Mobile phones
[THE INVESTOR] Samsung Electronics phones made up 9 percent of smartphones used by 800 million China Mobile customers, China’s largest telecom carrier said in a recent report. The most favorite smartphone brand among China Mobile customers was Apple’s iPhone that made up 15 percent or some 120 million phones of the total. Together with Samsung, China’s Xiaomi and Huawei were ranked second with 9 percent market share, respectively. Samsung Galaxy S7 launch event held in ShanghaiChinese runner-ups
TechnologyJuly 8, 2016
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Samsung Electronics’ operating profit to hit W29.5tr this year: Dongbu Securities
[THE INVESTOR] Dongbu Securities said on July8 that it will keep a “buy” opinion on Samsung Electronics shares as it expects the tech giant’s 0perating profit to increase 11.6 percent to 29.5 trillion won (US$2.5 billion) this year.The brokerage also kept unchanged the price target of 1.8 million won.On July 8, Samsung Electronics closed 0.69 percent higher at 1,460,000 won. Dongbu based the upbeat forecast on Samsung’s second-quarter operating profit, which stood at 8.1 trillion won, up 17.4 pe
July 8, 2016
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Stocks end lower on heightened geopolitical risks
South Korean shares closed lower Friday as institutions sought to cash in early gains, while heightened geopolitical risks following a decision to deploy a U.S. tactical missile defense system in South Korea spooked investors.The local currency lost ground against the U.S. greenback.The benchmark Korea Composite Stock Price Index lost 10.98 points, or 0.56 percent, to 1,963.10. Trading volume came to 345.9 million shares, worth 4.07 trillion won ($3.5 billion), with losers outnumbering gainers 5
July 8, 2016