Articles by 박윤아
박윤아
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Hyundai Motor to cut executive salaries by 10%
[THE INVESTOR] Hyundai Motor Group announced on Oct. 25 that it will cut salaries of 51 affiliate executives by 10 percent starting this month amid the deteriorating business condition. “Executives of the group’s affiliates are moving to voluntarily cut their salaries,” said a high-ranking official at Hyundai Motor Group on the condition of anonymity. “As far as I know, it (pay cut) will start this month.”The Korean auto giant's possible pay cut for executives is the first since the 2008 global
Oct. 25, 2016
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Lotte Group to restart Hotel Lotte's IPO
[THE INVESTOR] Lotte Group units are planning to sell bonds to raise funds as the prosecution concluded a probe into the owner family’s alleged wrongdoing, according to market watchers on Oct. 25. Wrapping up a grueling four-month investigation last week, prosecutors indicted Lotte Group Chairman Shin Dong-bin, his father and elder brother without detention on charges of embezzlement and other business irregularities. According to sources, Hotel Lotte is moving to issue bonds according to its pl
Oct. 25, 2016
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Korea creates US$10b program with African countries
[THE INVESTOR] South Korea will make efforts to reinforce its financial cooperation with African countries by creating a US$10 billion cooperation program, the Finance Ministry said on Oct. 25. “The South Korean government will participate in many African development issues and contribute to achieving their sustainable development,” Finance Minister Yoo Il-ho said in his opening remarks at the ministerial-level meeting of the Korea Africa Economic Cooperation in Seoul.Starting in 2006, the bienn
Oct. 25, 2016
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Korea to maintain national debt-GDP ratio at under 45%
[THE INVESTOR] The South Korean government will keep the ratio of national debt to gross domestic product at 45 percent or lower, starting next year, the Finance Ministry said on Oct. 25. The new state budget management act, which was introduced in August as part of efforts to maintain sound fiscal status, was approved by the Cabinet and will be submitted to the National Assembly, according to the ministry.Under the law, the government has to comply with a debt-GDP ratio of 45 percent and the ba
Oct. 25, 2016
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S. Korean investors eye Chinese stock funds
[THE INVESTOR] Local investors are focusing on Chinese stock funds ahead of the stock exchange link between Shenzhen and Hong Kong in end-November. According to Korea Fund Ratings on Oct. 25, China-focused equity funds posted a net inflow of 29.8 billion won (US$26.20 million) for the past one-month period, the largest among offshore stock funds.Overall, overseas stock funds suffered a net outflow of 140.2 billion won during the period.The net inflow into Chinese stock funds is in sharp contrast
Oct. 25, 2016
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Stock market for startups to open in Nov.
[THE INVESTOR] The Korea Exchange announced on Oct. 25 that an over-the-counter stock market for promising startups will open here on Nov. 14. The new market, named the KRX Startup Market, will be focusing more on technology-intensive startups than other OTC markets oriented toward unlisted large companies and middling firms.Retail investors will be attracted to invest in competitive local startups with great growth potential, the KRX said.Startups wanting to trade their shares on the KSM should
Oct. 25, 2016
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Gov’t recoups W7b of public funds in Q3
[THE INVESTOR] South Korea recouped 6.7 billion won (US$5.9 million) of bailout funds in the third quarter, the government said on Oct. 25. The retrieval of taxpayers’ money stemmed largely from the liquidation of non-performing assets, according to the Financial Services Commission.The government has spent a total of 168.7 trillion won since November 1997 to bail out financial services and other firms in a bid to cushion the shock to the nation‘s economy.It recovered 112.1 trillion won, or 66.5
Oct. 25, 2016
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Korea’s economic growth slows down in Q3
[THE INVESTOR] The South Korean economy grew at a slower pace in the third quarter than three months earlier, according to central bank data on Oct. 25.In the July-September period, the country’s gross domestic product increased 0.7 percent from the previous quarter, decelerating from a 0.8 percent on-quarter expansion three months earlier, according to preliminary data from the Bank of Korea. From a year earlier, Asia’s fourth-largest economy grew 2.7 percent.(theinvestor@heraldcorp.com)
Oct. 25, 2016
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Debt burden of self-employed, elderly rises: report
[THE INVESTOR] South Korea’s self-employed workers in their 20s and the elderly run a higher risk of defaulting on loans from financial institutions, according to a report on Oct. 24. The country’s financial authorities thus need to keep a close watch on the potential risk, which could come as a drag on the local financial sector, the Korea Institute of Finance said in the report on household debt.According to the report, the debt-to-income ratio for 20-somethings jumped to 174 percent as of end
Oct. 24, 2016
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50% college students see worsening job market: survey
[THE INVESTOR] Half the college students in South Korea consider job market conditions have worsened this year, a survey showed on Oct. 24. In the survey conducted by the Federation of Korean Industries, 52.6 percent of 3,461 students surveyed said job market conditions have deteriorated from a year earlier for fresh college graduates.Only 2.6 percent answered that conditions have rather improved, while 26.5 percent said they did not see any significant changes.The outcome of the survey was appa
Oct. 24, 2016
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P2P lending rises in Korea in Q3
[THE INVESTOR] Peer-to-peer lending in South Korea rapidly grew in the third quarter, reaching 188 billion won (US$166 million), according to the data compiled by industry tracker Crowd InstituteP2P lending refers to a new type of loan extension to individuals or businesses through social network services or the Internet, and covers a wide range of services, including loans to startups and self-employed businessmen with their interest rates on such services hovering at 8 percent. The borrowers a
Oct. 24, 2016
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Property loans take up 40% of bank loans to self-employed
[THE INVESTOR] Amid the increasing loans of self-employed workers, real estate-related loans take up 40 percent of their local financial institutions’ lending, a report showed on Oct. 24Twelve local banks’ lending to one-man operations came to 185.5 trillion won (US$164 billion) as of end-June this year, up 7.8 trillion won from six months earlier and accounting for 18 percent of their total household loans, according to the report by credit appraiser Korea Ratings.Property and rental business o
Oct. 24, 2016
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DSME to deliver 2nd submarine to Indonesian Navy
[THE INVESTOR] Daewoo Shipbuilding & Marine Engineering launched a 1,400-ton diesel submarine on Oct. 24 for the Indonesian Navy, a company official said. The submarine is the second of the three submarines being built under a 2011 deal worth US$1.1 billion. In March, the shipbuilder had a launching ceremony for the first submarine, said Yoon Yo-han, a spokesman for DSME.The South Korean major ship builder held a ceremony for the second submarine at its shipyard in Geoje Island, close to the cou
Oct. 24, 2016
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Sustinvest urges shareholders’ to block Lee Jae-yong’s nomination
[THE INVESTOR] South Korean proxy advisory firm Sustinvest on Monday advised shareholders of Samsung Electronics to oppose the nomination of Vice Chairman Lee Jae-yong to the company’s board of directors. This is considered the first call of opposition to Lee’s nomination, which has been supported by a major shareholder of Samsung Electronics and other foreign proxy advisory companies. Samsung Electronics Vice Chairman Lee Jae-yongThe shareholders’ meeting on Lee’s nomination is to be held Thu
Oct. 24, 2016
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Hanjin Shipping may close European operations
[THE INVESTOR] Hanjin Shipping is planning to close its European operations, raising speculation about its liquidation, industry sources said on Oct. 24. According to the sources, Hanjin Shipping, currently under court receivership, has asked a local court to allow it to sell and liquidate its European operations.It is unclear whether the court will give the nod to the shipper to proceed with the plan.Last week, the shipper also said it would sell its stake in a U.S. affiliate that operates a te
Oct. 24, 2016
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