[THE INVESTOR]  Starfield Hanam, the nation’s largest shopping complex by floor space that is set to open soon, will see a heated competition among global automakers vying to attract customers into their special showrooms. Korean auto conglomerate Hyundai Motor Group said it will open Genesis Studio, a showroom for the group’s luxury brand Genesis cars, inside the mall on Sept. 9, the day the mall opens.  Genesis Studio in Hanam Starfield will open on Sept. 9. Hyundai Motor GroupThe studio will

Sept. 6, 2016

[THE INVESTOR] Hankook Tire, South Korea’s largest tire maker, will supply Original Equipment tires for Ford’s C-Max Energi plug-in hybrid, the company said on Sept. 6. Hankook Tire will install its Enfren Eco model for C-Max Energi OE tires -- which refers to tire equipped on a new vehicle when they come from the factory. Enfren Eco, which received high energy efficiency rating, is an eco-friendly tire that minimizes energy loss while maximizing performance to deliver high fuel efficiency, the

Sept. 6, 2016

[THE INVESTOR] Nexen Tire, South Korea’s third largest tire maker, will supply Original Equipment tires for German supercar maker Porsche’s Cayenne SUV, the company said on Sept. 5. It is Nexen Tire’s first supply deal with Porsche. Nexen Tire would be installing its N’Fera RU5 model for Caynne OE tires -- which refers to tires equipped on a new vehicle when they come from the factory. N’Fera RU5 boasts improved cornering stability, providing ride comfort fitted for sports cars, the company said

Sept. 5, 2016

[THE INVESTOR]  Local companies that have filed for bankruptcy court protection has reached the highest number as of July this year, and the number is likely to rise even further, South Korea’s highest court said on Sept. 5. According to the Supreme Court of Korea, a total of 562 companies have filed for court receivership this year as of end of July, in comparison to 540 companies in the same period last year. On average, 80 companies have sought for court protection each month. As of July, som

Sept. 5, 2016

[THE INVESTOR] Korea Investors Service, one of the big three rating agencies here, slashed its ratings for Hanjin Shipping to “default” on Sept. 2, immediately after the shipper entered court receivership. The cut took South Korea’s largest shipper from “C”, indicating “default imminent”, to “D” for “default”.“Seoul Central District Court’s approval of Hanjin Shipping’s receivership is reflected in the decision,” said Kim Yong-geon, an official at KIS. Earlier, two other agencies Korea Ratings a

Sept. 2, 2016

[THE INVESTOR] Creditors of Hyundai Merchant Marine have tapped Incheon Port Authority CEO Yoo Chang-keun to head the debt-ridden shipper that is under a creditor-led restructuring program.The nomination committee, comprising executives from the Korea Development Bank –- the shipper’s largest shareholder -- and other creditors, picked Yoo out of three candidates on Sept. 2. Yoo’s nomination will be finalized at the shareholders meeting on Sept. 20 after a meeting of the board of directors on Sep

Sept. 2, 2016

 [THE INVESTOR] Tesla Motors, the US electric carmaker, received permission from the South Korean government to provide location-based services here, speeding up its entry into the Korean market. Korea Communications Commission, the state telecom and media regulator, approved Tesla Korea as a location-based service provider on Sept. 1, along with six other local companies, including Kyongnam Bank and CJ Olive Networks. Tesla Model 3Under Korean law, companies providing location-based services su

Sept. 1, 2016

[THE INVESTOR] South Korean banks suffered huge losses in the second quarter, largely due to financing the ailing shipping and shipbuilding industries. The combined net loss of 17 commercial and state-run banks stood at 400 billion won (US$356.69 million) from April-June period, compared to a net profit of 2.2 trillion won in the same period last year, according to data released by Financial Supervisory Service on Sept. 1. The commercial banks reported net profit of 1.6 trillion won in the cited

Sept. 1, 2016

[THE INVESTOR] Netmarble, South Korea’s No.1 mobile game developer, on Sept.1 announced the global launch of “Final Shot” on iOS and Android. The first-person shooter game, available in 154 countries, features various game modes where users can play alone, in a clan or in five-on-five matches, all in real-time. The latest game targets global action game fans, and comes with fast-paced service, high quality graphics, as well as various missions and reward systems for more challenge.  Netmarble’s

Sept. 1, 2016

[THE INVESTOR]  Prosecutors on Sept. 1 summoned Shin Dong-joo, former vice chairman of Lotte Holdings in Japan, for questioning as a suspect in the ongoing probe into Lotte Group’s irregularities that include massive slush fund creation and embezzlement. Dong-joo, the eldest son of Lotte Group founder Shin Kyuk-ho, appeared at the Seoul Central Prosecutors’ Office at 9:50 a.m., without answering reporters’ questions on his charges.Former vice chairman of Lotte Holding attends prosecutor's office

Sept. 1, 2016

[THE INVESTOR] Renault Samsung Motors, the local unit of French automaker Renault, unveiled its new sport utility vehicle QM6 on Aug. 31 saying it expects to see a boost in sales this year. “Last year, we barely exceed 8,000 units in sales,” Park Dong-hoon, CEO of Renault Samsung, told the media at the QM6 unveiling event in Seoul. “This year we expect to reach 110,000 units. For QM6, we will sell at least 5,000 units each month,” he said.  Renault Samsung Motors’ QM6The QM6 SUV, a new version o

Aug. 31, 2016