Articles by 박윤아
박윤아
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Lotte Duty Free expands Seoul outlet
[THE INVESTOR] Lotte Duty Free has expanded its main outlet in downtown Seoul, as part of efforts to make up for a sales shortfall following the closure of its other outlet as the license expired, Korea’s largest duty-free operator said on June 29.The main outlet in Lotte Department Store in Myeong-dong has renovated the food court on the 12th floor into duty-free space to accommodate more cosmetics and perfume brands and reopened last week. The firm said it aims to raise 2.78 trillion won (US$2
June 29, 2016
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Manufacturing sentiment plunges to 3-month low for July
[THE INVESTOR] The business sentiment of Korean manufacturing companies worsened for July from a month earlier with more firms pessimistic, central bank data showed on June 29.The business survey index of manufacturing firms here came to 72 for the upcoming month, down from 74 for June, according to the Bank of Korea.The BSI for July marks the lowest level since 70 registered for April. A reading above 100 means optimists outnumber pessimists while a reading below the benchmark means the opposit
June 29, 2016
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Korean shipyards urged to reform for ‘new leap forward’
[THE INVESTOR] Korea’s ailing shipbuilders were urged by the trade minister on June 29 to utilize their current crisis as an opportunity to strengthen the industry and make “a new leap forward.”The nation’s three major shipyards -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering andSamsung Heavy Industries -- are in the midst of a sweeping restructuring, following a prolonged slump in their business.“The local shipbuilding industry should take the current crisis as an opportun
June 29, 2016
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S. Korea, UK reaffirm close ties amid Brexit concerns
[THE INVESTOR] Top South Korean and British government officials reaffirmed on June 28 that UK’s decision to leave the European Union would not change the close diplomatic relations between both countries, the Foreign Ministry said.South Korea’s Vice Foreign Minister Lim Sung-nam had phone talks with his British counterpart Hugo Swire on the Brexit decision.The two sides confirmed an “unswerving commitment” to the further development of their “comprehensive and creative partnerships,” said the m
June 29, 2016
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Samsung Heavy to face industrial action
[THE INVESTOR] Workers at the ailing shipbuilder Samsung Heavy Industries voted on June 28 to go on a strike to protest the firm’s restructuring plan. Among a total of 5,396 members of the “labor council,” 4,768 participated in the ballot and 4,382, or 91.9 percent, voted for a strike, the group said. Formally, the company doesn’t allow a labor union.But the council has yet to decide when to start the collective action. Police form a barricade in front of Samsung Heavy headquarters.“The vote doe
June 29, 2016
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S. Korean city pushing to host int’l coffee body HQ
[THE INVESTOR] The South Korean city of Yongin is pushing to bid for the headquarters of the world’s main intergovernmental body for coffee, the Yongin municipal government said on June 28.Yongin’s plans are to host the secretariat of the International Coffee Organization in an industrial complex the city will complete by May next year.Set up in 1963 under the UN, the London-based ICO brings together exporting and importing governments to jointly tackle the challenges facing the world coffee sec
June 29, 2016
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Jin Air to launch Incheon-Cairns service
[THE INVESTOR] Korean Air's budget carrier affiliate Jin Air will later this year launch a flight service to Cairns, a holiday destination on the northeast coast of Australia, the low-cost carrier of Korean Air said June 28.The airline said that it will deploy its B777-200ER aircraft equipped with 393 seats on the Incheon-Cairns route twice a week for about two months, starting Dec. 14.It will decide whether to keep the route after the temporary service is over.Australia is a popular holiday des
June 28, 2016
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Naver’s messaging firm LINE sets IPO price band
[THE INVESTOR] LINE Corp. has set the price band of its initial public offering at between 2,700 yen (US$26.45)and 3,200 yen a share, Naver’s global messaging app operator said June 28.Earlier, it said it will list its shares in Tokyo and New York next month, marking the largest IPO by a technology company this year. The firm said it will offer 13 million shares in Tokyo and another 22 million shares in New York, adding that it could raise up to 129 billion yen at the top end of the range.LINE s
June 28, 2016
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Samsung Heavy pushes to raise capital
[THE INVESTOR] Samsung Heavy Industries seeks to raise its capital as soon as shareholders give their nod for hiking the upper limit of stock for sale in August, which is part of its 1.5 trillion won (US$1.3 billion) restructuring plan, the ailing shipbuilder said on June 28.The unit of Korea’s largest conglomerate Samsung Group unveiled the self-rescue program earlier this month, including stock sales and job cuts, as it grappled with falling freight rates amid slackened global demand and tough
June 28, 2016
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New digital industry complex to be set up in Seoul
[THE INVESTOR] Netmarble Games, a Korean online game publisher, has signed an agreement with Korea Industrial Complex Corp. to establish a new complex in Guro District, southwestern Seoul, the game company said on June 28. The digital industry complex, G-Valley G-Square, will consist of a 39-story office tower for venture, IT, and knowledge industries. There will also be a park, sports center, game museum and medical treatment center for residents near the complex area. About 70 percent of the t
June 28, 2016
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Female employment rate rises in 2015
[THE INVESTOR] The female employment rate in Korea edged up 0.4 percentage point last year, government data showed on June 28.The employment rate of Korean women reached 49.9 percent in 2015, up from 49.5 percent a year earlier, according to the data compiled by Statistics Korea.That of men, however, fell to 71.1 percent from 71.4 percent over the cited period.As a result, the gap between men and women narrowed to 21.2 percentage points from 21.9 percentage points a year earlier. In 2000, the di
June 28, 2016
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E-payment grows in Q1 despite lower users
[THE INVESTOR] The amount of e-payment transactions increased at a fast clip in the first quarter despite a drop in the number of users, central bank data showed on June 28.The daily average amount of e-payments came to some 300.3 billion won (US$253.74 million) in the January-March period, up 8.6 percent from the previous quarter, according to the data from the Bank of Korea.This a slight decline from a 9.6 on-quarter spike tallied in the fourth quarter of 2015, but the amount has been on a ste
June 28, 2016
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S. Korea falls behind Japan in elderly employment
[THE INVESTOR] The employment rate of South Koreans in their late 50s and early 60s is much lower than that of Japan on account of lax policy measures, a report said on June 28.The employment rate for South Koreans aged 55 to 59 came to 70.6 percent in 2015, compared with 83.4 percent for Japan, according to the report by Hyundai Research Institute.The rate for South Korean citizens aged 60 to 64 stood at 59.4 percent, also lower than Japan’s 62.2 percent. However, the figure for those aged 65 a
June 28, 2016
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[H2 ECONOMIC POLICY] President Park OKs W20tr extra spending
[THE INVESTOR] President Park Geun-hye on June 28 agreed to pursue 20 trillion won (US$16.9 billion) of extra spending this year to help stabilize the South Korean economy, the presidential office of Cheong Wa Dae said. The amount will include a 10 trillion won supplementary budget to be executed in the latter half of the year, officials said. The remaining will come in other forms, such as investment in public funds and institutions. Park discussed these and other economic issues including the
June 28, 2016
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Samsung dryer gets thumbs-up from US consumer reviewer
[THE INVESTOR] A US consumer magazine on June 28 rated tech giant Samsung Electronics ’ clothes dryer ahead of other foreign rivals.Samsung’s dryer, the DV22K6800E, clinched the top spot with 70 points out of 100 in the most recent review by Consumer Reports in the compact category.US rival General Electric’s DCVH480EKWW came in second, followed by Bosch’s WTG86402UC and Asko’s T754CW, the magazine saidThe magazine noted that the Samsung product was very good at drying, relatively quiet and conv
June 28, 2016
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