Most Popular
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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More med professors to take day off each week while govt. urges them to stay
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S-Oil sponsors 2018 PyeongChang Winter Olympics
Korea’s leading refinery S-Oil said Monday it will support the 2018 PyeongChang Winter Olympics as a sponsor to successfully hold the world sports festival.S-Oil CEO Nasser Al-Mahasher and president Cho Yang-ho of the organizing committee for the Winter Olympic Games signed a sponsorship agreement. The refinery will provide oil products as needed for operating vehicles to transport athletes and committee members during the games. S-Oil CEO Nasser Al-Mahasher (left) poses with Hanjin Group chairm
IndustryApril 11, 2016
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Regulators probe into Hyosung’s bond warrants
The Financial Supervisory Service, Korea’s financial regulatory agency, is currently probing into the financial records of derivatives issued by Hyosung Group in the late 1990s following calls for an investigation by a lawmaker during a National Assembly audit last year.“We are looking into the matter on Hyosung’s warrant-linked bonds, including past records of its public disclosures, which reported that it was going to cancel the derivatives,” said an FSS official.The probe came after Chung Woo
April 11, 2016
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[Photo News] LG OLED lures China
LG OLED LURES CHINA -- LG Display, one of Korea’s leading display-makers, won a top prize for innovative technology at the China Information Technology Expo 2016, an annual electronics fair, held in Shenzhen, China, last week. (LGD)
TechnologyApril 11, 2016
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Banks' overseas operations suffer 9% dip in 2015 net
Korean banks suffered a 9 percent on-year decline in net profit earned from their overseas operations last year due to deteriorating net interest margins, the country's financial watchdog said Monday.In 2015, domestic banks posted a combined net income of $572 million from their overseas operations, down from $629 million a year earlier, the Financial Supervisory Service (FSS) said in a statement. Financial Supervisory Service (Yonhap)In a breakdown of their overseas earnings, non-interest inco
April 11, 2016
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Korean firms' debt ratios fall in 2015
Korean firms saw their debt-to-equity ratios fall last year on the back of increased operating profits in the metal-processing and construction sectors, the country's main bourse said Monday.A total of 718 companies listed on the Korea Exchange (KRX), which recently reported their financial results for 2015, saw their average debt-to-equity ratio fall to 121.12 percent last year from 126.18 percent the previous year, the KRX said in a statement. KRX (Yonhap)For the whole of 2015, their overall c
April 11, 2016
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BOK chief to attend G-20 central bankers' meeting in Washington
The head of Korea's central bank will attend the upcoming meeting of finance ministers and central bank governors from the world's 20 advanced and developing countries in the United States, the bank said Monday.Bank of Korea (BOK) Gov. Lee Ju-yeol will head to Washington on Tuesday for the G-20 finance ministers and central bank governors' meeting, slated to be held Thursday and Friday (Washington time), according to the BOK. Bank of Korea Gov. Lee Ju-yeol (Yonhap)At the meeting, "The BOK govern
April 11, 2016
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Ssangyong Motor's Tivoli Air sales top 5,000 units
Ssangyong Motor, owned by India's auto giant Mahindra & Mahindra, said Monday that sales of the recently unveiled Tivoli Air have surpassed 5,000 units in just a month since its official launch.The Tiovli Air is a long-body version of its popular Tivoli crossover sport utility vehicle, boasting more luggage room. It was launched on March 8. Ssangyong Motor's Tivoli Air (Yonhap)As of Friday, accumulative sales of the Tivoli Air have reached about 5,100 units on a contract basis, according to Ssan
MobilityApril 11, 2016
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Banknotes in circulation top record W90 tln in February
The amount of banknotes currently in circulation has reached over 90 trillion won ($78.12 billion), the central bank said Monday, apparently in line with the bank's continued easing stance to bolster growth in Asia's fourth-largest economy.Outstanding banknotes came to 90.79 trillion won as of end-February, gaining 1.3 percent from a month earlier and breaching the 90 trillion-won mark for the first time in the country's history, according to the Bank of Korea (BOK).Outstanding banknotes refer t
April 11, 2016
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Hanwha E&C wins $400m construction deal from Saudi Arabia
Hanwha Engineering and Construction Corp., a major South Korean builder, said Monday that it has won a deal to build a chemical plant in Saudi Arabia for about US$400 million. The deal signed last week, local time, with Saudi Calcined Petroleum Co. called for Hanwha E&C to build the plant in an industrial complex located in the southeast region of the Middle East country. The plant, if completed as planned during the first half of 2018, will be able to produce about 670,000 tons of petroleum-rel
IndustryApril 11, 2016
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GM Korea's new Malibu to intensify competition in midsize sedan market
GM Korea's planned launch of the new Malibu next month is expected to intensify competition in the midsize sedan market here where major automakers are already clashing with their latest popular models, industry sources said Monday.The midsize sedan market here is being dominated by such popular models as Hyundai Motor's Sonata and Kia Motors's K7. Recently, Renault Samsung Motors unveiled the SM6, which has been drawing a better-than-expected market response. GM Korea's Malibu midsize sedan (Y
MobilityApril 11, 2016
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Korean Air fails to attract bond investors on Hanjin Shipping woes
Korean Air failed to attract investors to its bonds due to growing risks stemming from its cash-strapped subsidiary Hanjin Shipping, according to news reports that cited investment banking sources.The listed Korean flag carrier, with a credit rating of BBB-plus, was seeking to issue bonds worth 250 billion won ($218 million) with a two-year maturity through its underwriters – Dongbu Securities, Kiwoom Securities, Korea Investment & Securities and Hyundai Securities.However, the company only saw
April 11, 2016
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[Photo News] Templestay for KEB Hana clients
TEMPLESTAY FOR KEB HANA CLIENTS -- A group of expats who joined KEB Hana Bank’s Templestay Tour pose in traditional temple attire at Woljeongsa Temple, Gangwon Province, on Saturday. The bank said Monday that nearly 30 customers from 14 countries have participated in the two-day program held in partnership with the Jogye Order of Korean Buddhism. (KEB Hana Bank)
April 11, 2016
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More South Korean bank branches shuttered in 2015
The number of bank branches in South Korea declined sharply in 2015 from the previous year as more users opted for mobile and Internet banking, data showed Monday.A total of 13 national and regional banks had a combined 5,890 branches and representative offices across the nation as of end-2015, down 165 from a year earlier. SC Bank Korea headquarters in downtown Seoul. (Yonhap)Standard Chartered Bank Korea, formerly SC First Bank, posted the largest drop by cutting 71 branches last year. In thei
April 11, 2016
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Samsung narrows market share gap with Intel
Samsung Electronics is steadily closing the gap with its global rival Intel Corp. in the semiconductor sector last year, data showed Monday.As the world‘s No. 2 supplier of semiconductor chips, Samsung had a 11.6 percent market share in 2015, up 0.9 percentage point from a year earlier, according to data from industry tracker IHS.U.S.-based Intel had 14.8 percent share in terms of sales, up 0.7 percentage point on-year. The data showed that the gap between the two firms is narrowing gradually fr
IndustryApril 11, 2016
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Momentum builds on steeper minimum wage hike
Momentum builds on steeper minimum wage hikeBy Kim Kyung-hoRepresentatives from labor, management and the public sector last week undertook negotiations on setting the mandatory minimum wage to be applied at workplaces across the country next year.Korea’s minimum wage has increased at a rapid pace in recent years, in particular under President Park Geun-hye’s administration, which has tried to bolster wage earners’ income as part of efforts to reinvigorate the economy by boosting domestic consum
April 11, 2016
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Hyundai Motor’s Sonata 4th best-selling hybrid in U.S.
South Korea’s leading automaker Hyundai Motor’s hybrid car sales in the U.S. grew just over 9 percent in the first quarter to become the fourth best-selling vehicle in the segment, industry data showed Monday.The Sonata -- the only hybrid model available from Hyundai in the U.S. -- sold a total of 4,436 units during the January to March period, according to U.S. website Hybridcars.com. Hyundai Motor’s Seoul headquarters confirmed the figures. Hyundai Motor’s Sonata hybrid (Yonhap)The Sonata hyb
IndustryApril 11, 2016
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Robo advisers help lower investment barriers
Automated financial advisory platforms, also known as “robo-advisers,” are making it easier for ordinary Koreans to invest in financial products, industry officials said Sunday. Unlike conventional asset management services that require a minimum deposit of 100 million won ($86,700) at banks, brokerages and asset management firms, robo-advisers ask for just 5-10 million won.They also incur less costs for investors by using big data and computer algorithms to analyze risks and rebalance portfolio
April 11, 2016
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Seoul shares open lower ahead of key Chinese data
South Korean share prices opened in the negative on Monday as investors remained cautious ahead of the release of major Chinese economic data due this week.The benchmark Korea Composite Stock Price Index fell 3.87 points, or 0.2 percent, to 1,968.18 in the first 15 minutes of trading. As of 10:24 a.m., the KOSPI was trading 0.4 percent lower at 1963.93. Traders monitor South Korean share prices at a local bank. (Yonhap)Analysts said traders are likely to stay in selling mode as they wait for a s
April 11, 2016
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Wild tiger population on rise
After years of concerted efforts by the international community, the number of wild tigers has increased to 3,890 last year from the 2010 estimate of 3,200, World Wildlife Fund said Monday.The figure compiled by International Union for Conservation of Nature can be attributed to multiple factors including an increase in tiger population in India, Russia, Nepal and Bhutan, and enhanced protection of the endangered animal in countries. (Wild Tiger, India © Joseph Vattakaven / WWF)“For the first ti
TechnologyApril 11, 2016
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LG Electronics to give early heads-up on Q1 earnings
LG Electronics plans to issue its very first “earnings guidance” Monday, giving investors an early heads-up on its first quarter results slated to be out later this month. According to industry sources, the company will unveil its official prediction on revenue and operating profits for the January-March period after Monday’s local stock market close at 3 p.m. The Seoul-based firm is scheduled to make a full report at the end of April. Forecasts from Korea’s 20 brokerage houses have its Q1 reven
TechnologyApril 10, 2016