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
N. Korea fires short-range ballistic missiles toward East Sea: JCS
-
8
[Graphic News] How much do Korean adults read?
-
9
N. Korea says it test-fired tactical ballistic missile with new guidance technology
-
10
Korean firms target EV charging market in US
-
Korea to take market stabilization measures on British referendum results
The Korean government said Friday that it will take market stabilizing measures if the foreign exchange market becomes wildly volatile due to the results of the landmark British vote."As South Korea has low exposure to Britain in terms of trade, a final decision (to quit the European Union) will have a limited impact on the South Korean economy," Vice Finance Minister Choi Sang-mok said at an emergency meeting with officials of the financial authorities and the central bank.Vice Finance Minister
June 24, 2016
-
Gloomy outlook for Hanjin Shipping
[THE INVESTOR] On news that ailing Hyundai Merchant Marine is likely to join the prestigious vessel-sharing 2M Alliance, all the attention is now focused on its bigger local rival Hanjin Shipping, to see whether the shipper can normalize its business to stave off bankruptcy. Hanjin Shipping, which joined a new alliance named The Alliance in May along with five shippers including Germany’s Hapag-Lloyd, Japan’s Nippon Yusen Kaisha and Taiwan’s Yang Ming, took the early lead on the industry-wide re
IndustryJune 24, 2016
-
GM Korea CEO warns employees over corruption
[THE INVESTOR] GM Korea chief executive James Kim warned that any employee found to be taking part in illegal activities will be dealt with sternly.“Any illegal activities or customs concerning the company will be dealt with sternly,” Kim said in an email sent to employees on June 23.GM Korea chief executive James Kim. “Remember that the actions of an individual can create negative situations for the entire organization,” Kim said, calling on GM Korea employees to focus on further raising domest
MobilityJune 24, 2016
-
VW Korea official arrested over emissions scandal
[THE INVESTOR] An executive of Volkswagen Korea was arrested by prosecutors on June 24 for his alleged involvement in the firm’s irregularities in the emissions scandal.The Seoul Central District Court issued an arrest warrant for the official in charge of the vehicles’ certification process, surnamed Yoon, on a charges including forging documents and violating the Clean Air Conservation Act.The court said there are enough reasons indicating that he is responsible for the crimes.The 52-year-old,
MobilityJune 24, 2016
-
Seoul stocks open higher on hopes UK will remain in EU
[THE INVESTOR] South Korean shares opened higher on June 24 as the first poll after the Brexit vote on June 23 showed signs of Britain remaining in the European Union. The benchmark Korea Composite Stock Price Index soared 8.68 points, or 0.44 percent, to 1,995.39 during the first 15 minutes of trading.South Korean shares opened higher on June 24 as initial poll results showed Britain may stay with the EU. Lee Sang-sub/The InvesterAll eyes are on the outcome of the Brexit poll due out at around
June 24, 2016
-
Korea’s dependence on China poses risks and opportunities
[THE INVESTOR] Korea’s high economic dependence on China is a double-edged sword, a report said on June 24.In a report titled “China’s choice,” McKinsey Global Institute ranked Korea fourth in the world in terms of economic dependence on China. According to the report, Korea is fourth in the world in terms of the proportion of gross domestic product raised from exports to China. Oman showed the highest dependence followed by Angola and Malaysia. China national flag.Korea’s economy is highly trad
June 24, 2016
-
POSCO’s Q2 operating profit to miss expectations: analyst
[THE INVESTOR] NH Investment & Securities has maintained a buy rating on POSCO and kept the price target of 300,000 won (US$ 261.50) on projection that the firm will continue its earnings improvement due to the increase in steel prices. “POSCO’s second-quarter sales will meet expectations but its operating income will fall shy,” analyst Byun Jong-man said.He expects the steelmaker’s consolidated sale for the second quarter to decrease 8.3 percent on year to 13.92 trillion won and its operating p
June 24, 2016
-
Volkswagen to recall 2,425 Passat sedans for engine oil pump failures
[THE INVESTOR] Audi Volkswagen Korea -- the local importer and distributer of Germany‘s Volkswagen Group -- will recall 2,425 units of its Passat sedans for an engine oil pump failure, the South Korean transport ministry said on June 24.A defect in the oil pump shaft may result in low or no oil pressure, which could cause the engine to stop without warning. The government said 2,425 units of the Passat 2.0 TDI sedans produced between July 13, 2005, and May 16, 2008, are eligible for free repair
MobilityJune 24, 2016
-
Hyundai Rotem banned from making new bids
[THE INVESTOR] South Korea’s leading train manufacturer Hyundai Rotem was banned from making new bids for government-run projects for 10 months after it was sanctioned by Daegu Metropolitan Transit Corp. for malpractice.The company will not be permitted to submit bids from July 1 to April 30, 2017, according to the Daegu metropolitan authorities. Hyundai Rotem is charged wth violating local subcontractor laws by adopting a turnkey approach for the entirety of a 23.3 billion won (US$20.1 million)
IndustryJune 23, 2016
-
[Graphic News] Korea’s exports projected to improve in H2
Korea’s exports are projected to improve in the second half of this year, despite the poor performances of the semiconductor and shipbuilding industries, data showed Thursday. According to the Korea Institute for Economics & Trade’s report, the amount of exports will recover in the second half of this year and reach an increase rate of minus 1.3 percent compared to last year. Exports in the first half plummeted by 10.8 percent on-year. The overall export increase rate is projected to record minu
IndustryJune 23, 2016
-
Samsung Display shipped 97.7 % of OLED panels in Q1
[THE INVESTOR] South Korea’s Samsung Display was the world’s No. 1 in terms of organic light-emitting diode panel shipment in the first quarter, accounting for 97.7 percent of global shipments.Industry tracker IHS said Samsung Display shipped 88.75 million panels, followed by LG Display whose shipments accounted for 0.9 percent of the market. No. 3 player AUO of Taiwan had a 0.7 percent market share. Samsung Display has the capacity to produce 300 million displays a year. It is also the only man
TechnologyJune 23, 2016
-
Lotte’s key finance man questioned in growing probe
Lotte Insurance chief executive Kim Hyun-soo.[THE INVESTOR] Lotte Insurance chief executive Kim Hyun-soo has been summoned for questioning in the prosecution’s probe into Lotte Group. He has been summoned as a witness. Kim served in accounting rolls in Lotte Department Store from 1987 to 2014. From 2007, he was in charge of the company’s finances. In serving as the company’s finance chief, Kim is said to have managed personal funds of Lotte Group founder Shin Kyuk-ho, and current chairman Shin
CompaniesJune 23, 2016
-
SK Telecom, KT gear up to compete for 5G networks
[THE INVESTOR] The nation’s top telecom firms SK Telecom and KT are gearing up to compete in the field of next-generation network 5G.Korea’s leading mobile operator SK Telecom said on June 23 it has successfully developed 5G test equipment with Ericsson that will be applied to the world’s first 5G test network that is scheduled to be completed by the end of this year. “The upcoming demonstration will be a chance to show stable and sufficient support for up-and-coming 5G services,” said Park Jin-
TechnologyJune 23, 2016
-
Slow growth projected for OLED TV market
[THE INVESTOR] The global organic light-emitting diode TV market may not be as robust as previously thought in the coming years, according to an industry report.Market research firm IHS forecast in its recent report that around 5.8 million units of OLED TVs will be shipped in 2020, down 32 percent from 8.5 million projected earlier this year.The number of OLED TVs expected to be shipped in 2019 has also decreased to 4 million, down from an estimate of 5.8 million in the previous report. Models p
TechnologyJune 23, 2016
-
KB Financial Group benchmarks BoA-Merrill Lynch merger
[THE INVESTOR] KB Financial Group, Korea’s leading banking group, seeks to set up a universal banking system to provide a wide variety of financial services from insurance to investment services, the firm said on June 23.After acquiring Hyundai Securities in April, the operator of KB Kookmin Bank plans to diversify its business portfolio to depart from its role of offering traditional financial products such as deposits and installment savings. Wealth management business and commercial investmen
June 23, 2016
-
Korea’s biggest yoga institute to open in Paju
Korea’s biggest yoga institute is set to open in Paju, Gyeonggi Province, in September, a report said Thursday. Yoga business firm AJNA, together with Hallyu Training Center, said it will recruit overseas and domestic yoga experts to teach at the dormitory-style educational institute dubbed Korea Yoga College. (Korea Yoga College)Hallyu Training Center is known for being the motor behind K-pop entertainment project “Produce 101,” which provided on-television trainings to 101 aspiring starlets t
TechnologyJune 23, 2016
-
Merck to establish nonprofit company for charitable work
[THE INVESTOR] Global pharmaceutical and chemical enterprise Merck will establish a nonprofit company, the Merck Family Foundation, to expand its charitable work, the Germany-based company said this week. The Merck Family Foundation will conduct charitable work such as promoting public health care and education, providing emergency aid in a community. To be involved in international development cooperation as a further goal, the global pharmaceutical company is also working out research projects
TechnologyJune 23, 2016
-
Government to inject W10.5tr into renewable energy
[THE INVESTOR] The government will invest 10.5 trillion won (US$9.1 billion) into renewable energy in collaboration with the private sector, the Ministry of Trade, Industry and Energy said on June 23. In a press release before a parliamentary briefing on the same day, the ministry said that it will focus on issues concerning electric vehicles, solar power, energy storage systems and other energy-related fields. The ministry said that it will roll out measures to improve conditions for electric v
June 23, 2016
-
FSC to draw up measures for shipbuilding, shipping-related firms
[THE INVESTOR] The Financial Services Commission will announce measures to support shipping- and shipbuilding-related industries in August. The top financial regulator said that vice chairman Jeong Eun-bo held a meeting with industry representatives in Busan on June 23, and the government is reviewing measures to support the concerned industries. “(The government) is reviewing diverse measures to relieve financial difficulties of the companies linked to the industries undergoing restructuring,”
June 23, 2016
-
BioLeaders to go public in July
[THE INVESTOR] Korean pharma company BioLeaders will list on the secondary bourse KOSDAQ on July 7.Established in 1999, the company develops drugs for immune disorders and other incurable diseases. CEOs of BioLeaders: Sung Moon-hee (left) and Kim Sang-sukPrior to listing on the tech-heavy KOSDAQ, BioLeaders was traded on KONEX -- a securities exchange exlusively for small and medium enterprises and venture companies. It will issue 1.2 million shares within the range of 11,000 won (US$9.5) to 15,
June 23, 2016