Articles by 박윤아
박윤아
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Hot Tech cancels purchase of Union Savings Bank’s shares worth W12b
[DISCLOSURE] Hot Tech (015540) said on Aug. 30 that it has canceled acquiring Union Savings Bank’s 11,700,000 shares, worth 12 billion won (US$10.72 million). The decision was made as the company has failed in the capital increase through third-party share allocation to buy the stocks.By Park Yuna (yunapark@heraldcorp.com)
Aug. 30, 2016
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Korea’s short-term debt to forex reserves ratio edges up in Q2
[THE INVESTOR] South Korea’s ratio of short-term foreign debt to foreign exchange reserves rose in the second quarter, data showed on Aug. 30.The country’s short-term external debt, with a maturity of one year or less, totaled US$106.8 billion as of the end of June, up $2.7 billion from three months earlier, according to the data by the Bank of Korea.The end-June figure accounted for 27.3 percent of the country’s total external debt, up 0.5 percentage point from the previous quarter, the data sh
Aug. 30, 2016
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S. Korea's retail sales in July rise on improved consumer sentiment
[THE INVESTOR] South Korea’s major department stores and discount chains saw their sales rise sharply in July from a year earlier, government data showed on Aug 30.The combined sales of three department stores -- Hyundai, Lotte and Shinsegae -- advanced 7 percent on-year last month, while those of major discount retailers -- E-mart, Lotte Mart and Homeplus -- gained 2.1 percent during the same period last year, according to the data compiled by the Ministry of Trade, Industry and Energy.Sales of
Aug. 30, 2016
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Samsung’s 3-D NAND investments to buoy chip equipment makers
[THE INVESTOR] Samsung Electronics’ reported plans to heavily invest in production lines for 3-D NAND flash memory chips could lead to earnings rise for South Korean chip equipment manufacturers in the second half of the year.Samsung, the world’s largest maker of memory chips, has not revealed how much it will spend on boosting the production capacity of 3-D NAND chips, which are widely used for smartphones and other smart devices. But market watchers have speculated that Samsung has begun a mul
Aug. 30, 2016
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BOK chief expects US rate hike soon
[THE INVESTOR] Bank of Korea Gov. Lee Ju-yeol said on Aug. 30 that there is a heightened possibility that the US Federal Reserve could raise its interest rates.The head of South Korea’s central bank made the comment in a meeting with leading economists and scholars on the current economic conditions, citing recent remarks by Federal Reserve Chair Janet Yellen.Last week, Yellen said the Federal Open Market Committee continues to anticipate that gradual increases in the federal funds rate will be
Aug. 30, 2016
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NTS probes foreign tobacco firms for tax dodging
[THE INVESTOR] The National Tax Service is investigating foreign tobacco companies over suspicions that they evaded taxes, industry sources said on Aug. 30.Citing the need to discourage smoking, South Korea marked up taxes levied on cigarettes by 2,000 won (US$1.79) in January last year, raising the price to 4,500 won per pack.Cigarette makers are said to have raked in tens of millions of dollars in so-called inventory profit by keeping products shipped out before 2015 in stock and selling them
Aug. 30, 2016
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Korea to build network of smart expressways
[THE INVESTOR] South Korea unveiled plans on Aug. 30 to build a network of smart expressways that will include new sections of road that charge electric vehicles as they go.For this, the government will spend 37 trillion won (US$33.10 billion) over the next five years, while also attracting an additional 35 trillion won in private investment.Under the plans, the government will also build an additional 1,000 kilometers of expressway, extending the total length in the country to 5,131 kilometers
Aug. 30, 2016
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Korean food fair to promote exports
[THE INVESTOR] An international trade fair for South Korean food and agricultural products will take place later this week to help local firms expand overseas, the government said on Aug. 29.Some 290 South Korean food and beverages companies will participate in the Buy Korean Food fair, which will be held at the aT Center in southern Seoul on Aug. 31 and Sept. 1, according to the Ministry of Food, Agriculture and Rural Affairs.About 160 foreign buyers from 23 countries, including Japan, China an
Aug. 29, 2016
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Korea’s income gap smaller than OECD average
[THE INVESTOR] South Korea’s wage gap between its high school and university graduates is smaller than the average of Organization for Economic Cooperation and Development members, data showed on Aug. 29. According to data compiled by the Ministry of Employment and Labor, average wages of the country’s university graduates are 37 percent higher than those of high-school graduates. The OECD average wage gap stands at 56 percent. In terms of the wage gap, South Korea ranked 23rd among the OECD mem
Aug. 29, 2016
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Vitamins, tonics top list of best-selling OTC drugs
[THE INVESTOR] Vitamins and tonics topped the list of best-selling over-the-counter drugs in South Korea in the first half of the year, data showed on Aug. 29.According to the first-half business reports by local drug makers, the best-selling OTC medication was Aronamin, a vitamin manufactured by Ildong Pharmaceutical, in the January-June period with sales of 33.5 billion won (US$29.90 million).Daewoong Pharmaceutical‘s hepatic protector Ursa came next with 30.9 billion won, followed by Dongwha
Aug. 29, 2016
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Korean builders pay huge fines for unfair practices
[THE INVESTOR] The top 10 South Korean builders have paid more than 1 trillion won (US$890 million) in fines for unfair practices over the past three years, government data showed on Aug. 29.A combined fine of 1.12 trillion won has been imposed on the leading construction companies for a total of 102 collusion and other “collusive unfair acts” between 2014 and 2016, according to the data that the Fair Trade Commission submitted to the office of Rep. Park Yong-jin of the main opposition Minjoo Pa
Aug. 29, 2016
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Listed firms improve debt-equity ratio
[[THE INVESTOR] South Korean listed companies have marginally improved their financial health this year, data showed on Aug. 29.The average debt-equity ratio of 626 firms listed on the KOSPI market last year came to 115.4 percent as of end-June, according to the Korea Exchange and the Korea Listed Companies Association.It marks a 3.15 percentage-point drop from the end of 2015.“Companies listed on the (local) equity market are maintaining a sound financial status in general,” a Seoul bourse offi
Aug. 29, 2016
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Dongbu HiTek rises in global foundry market
[THE INVESTOR] South Korea’s only foundry chipmaker Dongbu HiTek is forecast to rank ninth in the global foundry market this year, a market research firm said on Aug. 29.Dongbu HiTek is expected to generate sales of US$640 million this year, up about 8 percent from a year earlier, according to market research firm IC Insights. This could place the South Korean chipmaker ninth in the global foundry market.Foundry manufacturers refer to those that make chips for other companies. Dongbu HiTek's pro
Aug. 29, 2016
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Tesla’s Model 3 to boost Korean demand for EVs
[THE INVESTOR] The entry of Tesla Motors’ more affordable electric vehicle into South Korea next year will boost domestic demand for EVs, an expert said on Aug. 29.The US electric car maker is slated to unveil the Model 3 in late 2017, which is capable of traveling more than 340 kilometers before being recharged and is estimated to have a price tag of US$35,000, nearly half the price of its flagship and luxury Model S.The Model 3 is reported to have clinched more than 300,000 preorders globally,
Aug. 29, 2016
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Net profits of brokerages rise on brisk stock trade
[THE INVESTOR] The net profits of 54 local brokerages rose 1.5 percent on-quarter to 621.4 billion won (US$557.8 million) in the second quarter of the year, government data showed on Aug. 29.Revenue from brokerage commissions came to 1.99 trillion won during the period, up 13.5 percent from a quarter earlier, on an increase in the stock trade following the Bank of Korea’s interest rate cut and Brexit vote, according to the data compiled by the Financial Supervisory Service.In contrast, proprieta
Aug. 29, 2016
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