Most Popular
-
1
Jimin of BTS, actor Song Da-eun suspected to be dating, again
-
2
What's next for the government's push in quota hike?
-
3
Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
-
4
Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
-
5
‘Malice should not undermine the system, social order,’ says Hybe's Bang
-
6
N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
-
7
[Robert J. Fouser] Social attitudes toward language proficiency
-
8
N. Korea fires short-range ballistic missiles toward East Sea: JCS
-
9
[Graphic News] How much do Korean adults read?
-
10
N. Korea says it test-fired tactical ballistic missile with new guidance technology
-
Park calls for watertight crisis management system over Brexit
President Park Geun-hye on Monday called on her government to maintain a "watertight" crisis management system to minimize the potential negative ramifications from Britain's decision to leave the European Union.In her first public statement following last week's referendum in Britain, Park also ordered the government to take "all necessary measures" to stabilize the local stock market that suffered a sharp drop after Britons voted to exit the EU on Thursday (local time). (Yonhap)"Along with the
June 27, 2016
-
Investors head toward short-term, safe assets amid Brexit crisis
Local investors are increasingly beginning to lean toward the U.S. dollar and other safer assets, such as short-term deposits, market data showed Monday, following Britain's unprecedented vote to quit the European Union that has apparently left long-term commitments riskier, as well as unattractive, amid record low interest rates.According to the Bank of Korea, outstanding bank deposits with a maturity of less than one year came to a record high of 199.48 trillion won ($168.12 billion) as of end
June 27, 2016
-
Korea-US FTA triples auto imports from US
[THE INVESTOR] The number of automobiles imported from the US has more than tripled since the Korea-US free trade agreement took effect. According to local automotive industry data, the number of vehicles imported from the US went from 13,669 units in 2011 to 49,096 units in 2015, rising by a factor of 3.6. The Korea-US FTA took effect in 2012. In terms of value, automobile imports in 2011 came in at about US$363 million. The figure for last year came in at over US$1.24 billion. In comparison, K
MobilityJune 27, 2016
-
Doosan Heavy bags W220b deal
[THE INVESTOR] Korea’s top power equipment maker Doosan Heavy Industries & Construction said on June 27 that it has bagged a 220 billion-won (US$185 million) deal to build a desalination plant in Iran.Under the deal with the Iran-based Sazeh Sazan, the firm will construct the facility by October 2018. The Korean company will also do operating and maintenance work for 12 years.Desalination plant.Doosan Heavy’s deal marks the first for a desalination plant in the Islamic republic after internation
IndustryJune 27, 2016
-
Imports of U.S. cars in Korea more than triple in 4 years
Imports of American cars in Korea more than tripled in four years, industry data showed Monday, a rise that could be attributable to the free trade deal between Seoul and Washington.The free trade deal went into effect in 2012, providing a competitive edge to U.S. carmakers. Korea imported a total of 49,096 cars from the United States in 2015, up from 13,669 units in 2011, according to data provided by auto industry. (Yonhap)Ford Sales and Service Korea, the local importer and distributor of U.S
June 27, 2016
-
VW faces another suit over emissions:South Korea
[THE INVESTOR] South Korean Customers of Volkswagen’s gasoline-powered vehicles have filed a suit against the German carmaker and its local unit over its manipulation of emissions tests, a lawyer said on June 27.Jason Ha, who represents 26 owners of the Golf 1.4 TSI at Barun Law, said he filed the suit, demanding the firm and its local unit refund the cost of their cars.The latest legal action came three days after prosecutors arrested an executive of Audi Volkswagen Korea for installing softwar
MobilityJune 27, 2016
-
E-Land’s pre-IPO placement plans for Chinese arm fall apart
[THE INVESTOR] E-Land Group’s plans for pre-IPO placement for its Chinese branch E-Land Fashion China Holdings has fallen apart over its plans to sell off the brand Teenie Weenie. E-Land has been working on pre-IPO placements for its Chinese arm hoping to raise about 1 trillion won (US$842 million). In the process, the company decided to sell Teenie Weenie, a brand under E-Land International Fashion Shanghai. Although the company hopes to raise about 2 trillion won from the sale of Teenie Weenie
IndustryJune 27, 2016
-
Doosan Heavy bags 220 bln-won deal for desalination plant
Doosan Heavy Industries & Construction Co., Korea's top power equipment maker, on Monday said it has clinched a 220 billion-won ($185 million) deal to build a desalination plant.Under the deal with the Iran-based Sazeh Sazan, Doosan Heavy will construct the facility by October 2018. The Korean company will also do operating and maintenance work for 12 years.(Yonhap)Doosan Heavy's deal marks the first for a desalination plant in the Middle East country after international sanctions on it were lif
IndustryJune 27, 2016
-
Volkswagen face another suit from gasoline model owners over emissions
More than two dozen owners of one of Volkswagen's gasoline-powered vehicles filed a suit against the German carmaker and its local unit Monday over its manipulation of emissions tests, a lawyer said.Jason Ha, who represents 26 owners of the Golf 1.4 TSI at Barun Law, said he filed the suit, demanding the German carmaker and its local unit refund the cost of their cars. (Yonhap)The latest legal action came three days after prosecutors arrested an executive of Audi Volkswagen Korea for installing
MobilityJune 27, 2016
-
Ex-chief of Daewoo Shipbuilding summoned over company's accounting fraud
A former CEO of Daewoo Shipbuilding & Marine Engineering Co., one of the country's top three shipbuilders, was summoned by prosecutors Monday over his alleged involvement in the financially troubled company's accounting fraud and poor management. Nam Sang-tae, who headed the shipyard from 2006 to 2012, appeared before the Seoul High Prosecutors' Office as a key suspect in the ongoing probe into the embattled shipbuilder.(Yonhap)"I will fully cooperate with the investigation," the 66-year-old tol
IndustryJune 27, 2016
-
KOSPI to trade between 1,870-2,000 level: Korea Investment & Securities
[THE INVESTOR] Korea Investment & Securities predicted that the benchmark KOSPI would trade within a range of 1,870 points to 2,000 points in the aftermath of the Brexit crisis.“There are two scenarios here, one is that the uncertainties surrounding Britain and Europe will spill over into emerging markets, meaning the local stock markets will continue to fluctuate,” said Noh Geun-hwan, an analyst with the brokerage.“Only 1.4 percent of the South Korean bond market is composed of British funds, b
June 27, 2016
-
Hyundai, Kia eye green car expansion abroad
[THE INVESTOR] South Korea’s major automakers are seeking to expand their eco-friendly vehicles to other countries around the world this year, local news reported on June 26. Hyundai Motor plans to sell Ioniq Hybrid in the US and European markets in the second half of this year. Hyundai’s latest green car boasts a fuel efficiency of 22.4 km per liter, which is likely to compete with Toyota Prius, the market leader of hybrid vehicles. Ioniq Electric, the automaker’s first electric vehicle in the
MobilityJune 27, 2016
-
Seoul vows active, lasting steps to counter Brexit fallout
Korea's financial authorities on Monday vowed to take all necessary measures to minimize the fallout from Britain's vote to leave the European Union, emphasizing that Asia's fourth-largest economy is well-positioned to tide over the unprecedented shock. The head of the country's top financial regulator noted volatility in the local financial market may continue to increase over an extended period of time but insisted Britain's exit from the EU, called Brexit, will have limited impact on the glob
June 27, 2016
-
Seoul stocks ended flat amid Brexit turmoil
Korean shares trimmed earlier losses to close almost flat Monday as investors expect major economies to inject liquidity into the markets to avoid a global financial crisis following Britain's decision to quit the European Union last week. But the Korean won continued to lose ground against the U.S.dollar amid investors' lingering appetite for safer assets.The benchmark Korea Composite Stock Price Index closed flat at 1,926.85, up 1.61 points, or 0.08 percent, after dropping to an intraday low o
June 27, 2016
-
KOSPI to bottom out at 1,880 level: Hyundai Securities
[THE INVESTOR] South Korean brokerages are busy issuing forecasts on the local stock markets. Among them, Hyundai Securities says the benchmark KOSPI would bottom out at the 1,880 level following Britain’s latest decision to leave the European Union. Considering that some of the responses we are seeing may be excessive, and intertwined with political uncertainties, it would be reasonable to see the bottom at 1,880 points, which is about 0.98 times KOSPI’s PBR, according to a report compiled by K
June 27, 2016
-
K-pop under spotlight in New Jersey
[THE INVESTOR] Is the hallyu fever over? Some naysayers claim the cultural phenomenon that hit the world in early 2000s is losing its gloss as it runs out of contents to showcase. Boy bands, girl groups and food like kimchi and bulgogi -- the centerpieces of the cultural wave -- are getting old for global fans.K-pop fans attend an outdoor event during the KCON convention held in Newark, New Jersey, from June 24 to June 25. CJ E&MA recent government report also showed the growth of Korean culture
IndustryJune 27, 2016
-
Tax revenue from gambling sector gains 4% in 2015
Korea's tax revenue from the country's gambling industry expanded 4 percent in 2015 from the previous year due largely to increased sales, data showed Monday.According to the data by the National Gambling Control Commission, taxes collected from gambling-related businesses, including casinos and horse race betting, reached 2.42 trillion won ($2.06 billion) last year, compared with 2.32 trillion won a year earlier.(Yonhap)Tax revenue from casinos surged 12.1 percent on-year to 478.8 billion won,
June 27, 2016
-
Korea begins official FTA talks with Israel
Korea launched official talks on a free trade agreement with Israel on Monday to discuss ways to boost bilateral economic exchanges and investment, the trade ministry said.The Ministry of Trade, Industry and Energy said the first round of negotiations took place in Seoul, seven years after the two countries began discussions on starting FTA talks in 2009. Both sides will discuss various trade issues involving manufactured goods, services and investment, as well as technology cooperation.(Yonhap)
June 27, 2016
-
[News Focus] Won expected to further tumble on Brexit
The British pound has fallen, along with the euro, Chinese yuan and, not to mention, the Korean won, while the dollar and Japanese yen strengthened following the U.K.’s vote to leave the European Union.The won-dollar exchange opened with a decrease of 0.2 won at 1,150 won last Friday, but weakened almost 30 won, closing at 1,179.9 won as the British voted in favor of exiting the EU, while the KOSPI lost more than 3 percent.Analysts forecast the won-dollar exchange to touch as high as 1,200 to 1,
June 26, 2016
-
Brexit overshadows Korean economy
The “Leave” outcome in the U.K. is expected to further overshadow the prospects of the Korean economy, which is already facing a slew of negative outlooks on employment, inflation and exports, analysts say.An exit from the European Union is likely to slow Korean exports to its free trading partner, as Korea and the U.K., as well as the EU, will have to renegotiate the terms of their trade pacts and tariffs separately, now that the world’s fifth-largest economy will have to start talks with the U
June 26, 2016