[THE INVESTOR] Chemical and battery firm LG Chem is slated to supply its batteries to the U.S. National Aeronautics and Space Administration in the second half of this year, according to the company on July 17. 　The local battery maker recently signed a supply deal with NASA to provide its lithium ion batteries for the agency’s space suits used for space exploration. 　“The batteries will serve a key role in the spacesuits, which have various functions such as oxygen suppliers, communications equ

July 17, 2016

[THE INVESTOR] The SUV fad in South Korea is not over yet. Fueled by the popularity of outdoor activities -- mainly camping -- sales of such vehicles have grown steadily over the years. 　However, there have been limited local choices, which often leads to consumers going for high-end foreign vehicles offered at high prices. 　South Korea’s fourth-largest carmaker Ssangyong Motor, recently rolled out a pickup that it touts as an alternative to an SUV – the Korando Sports 2.2. 　It is not really an

July 17, 2016

[THE INVESTOR] Amid the growing popularity of hybrid cars among environmentally conscious drivers, Hyundai Motor has gone one step further with the pure electric car Ioniq Electric for those who want a more eco friendly option. The nation’s largest automaker invited the press on Thursday to get behind the wheel, following a driving course based on the concept that an EV driver in Seoul traverses the city from east to west on diverse road conditions such as traffic jams and highways. 　At a glance

July 17, 2016

[THE INVESTOR] Come Aug. 5, Hyundai Merchant Marine will begin a new chapter in its 40-year history, breaking free from Hyundai Group and becoming a subsidiary of Korea Development Bank. 　The soon-to-be owner is bent on installing a new leadership at the shipping line and is open to hiring a foreigner as its chief executive, according to sources at the state-run lender.  “A CEO-recommendation committee is to launch soon, comprising representatives of various related parties,” said a KDB official

July 17, 2016

[THE INVESTOR] U.S. beef imports increased significantly as South Koreans turned away from their expensive local beef hanwoo, industry data showed last week. U.S. beef imports increased by 25.7 percent from January to May this year from the same period last year, to reach 61,062 tons, according to a report by the National Agriculture Cooperative Federation, better known as NongHyup. (123rf)South Korea became the third largest beef importer in the world during the period, after Japan and Mexico.

July 17, 2016

[THE INVESTOR] Tech giant Samsung Electronics has become the most popular PC brand in Brazil, according to local media on July 17. The Brazilian newspaper O Estado de S. Paulo, based on its annual brand survey, reported that Samsung grabbed the top spot among all PC brands, beating its American rivals Apple and Dell. Last year, Apple ranked No. 1, while Samsung and Dell shared second place. Samsung’s feat came amid a slump in the local and global PC markets. The sales of all desktops and laptops

Technology July 17, 2016

[THE INVESTOR]  South Koreans’ direct trading of foreign shares dropped significantly in the first half of the year as a result of a decline in investment in the Chinese market, data showed on July 17. During the January-June period, the total transaction volume of foreign shares by South Koreans came to US$ 6.23 billion, down by 15.96 percent from US$ 7.41 billion recorded a year earlier, according to Korea Securities Depository. The amount is a decrease of 7.74 percent from US$ 6.75 billion in

July 17, 2016

[THE INVESTOR] In the pre-cloud era, access to a company’s data was quite a laborious task. A chief executive might have had to send emails back and forth just to acquire necessary data such as those related to sales. 　Now emerging cloud services allow easy access to analytic data, even on the go.　By simply using a mobile app, a company chief is able to get information that span a broad range of queries such as how many new employees are currently needed and analysis on the anticipated financial

July 17, 2016

[THE INVESTOR] Samsung Heavy Industries, a debt-ridden South Korean shipyard, has nearly secured a 3 trillion won (US$ 2.63 billion) deal to build a floating liquefied natural gas facility abroad, local news reported on July 17. The shipbuilder, a unit of Samsung Group, is leading a consortium made up of French oil services company Technip and Japan’s JGC in the project, valued at a total of US$ 5.4 billion. This construction has been ordered by the Italian hydrocarbon company ENI. “It’s safe to

July 17, 2016

[THE INVESTOR] Hanjin Shipping has yet to clinch a deal for cutting charter fees as part of its debt restructuring plan, the company said on July 15. “At the moment, we haven’t reached an agreement,” the company said in a statement, adding it is still negotiating with 22 foreign ship owners. The remark comes after a local media report on July 14 that Hanjin Shipping has almost reached a deal for cutting its leasing rate by 27-28 percent from the current 2.6 trillion won (US$ 2.29 billion). If th

Industry July 15, 2016

[THE INVESTOR] US beef imports increased significantly as South Koreans turned away from their expensive local beef hanwoo, industry data showed on July 14. US beef imports increased by 25.7 percent from January to May this year from the same period last year, to reach 61,062 tons, according to a report by the National Agriculture Cooperative Federation, better known as NongHyup. South Korea became the third largest beef importer in the world during the period, after Japan and Mexico. 123rfIn Ma

Industry July 15, 2016

[THE INVESTOR] Volkswagen Korea said it does not intend to abandon the Korean market amid growing speculation that the automaker could be forced out over the emission scandal. “I apologize for causing trouble for our partner dealers and customers,” Tomas Kuel, CEO of VW Korea said in a letter sent out to the dealers on July 14. “Although we are in a difficult situation, we will keep a strong foothold in the Korean market and pursue future plans.”He stressed that the Korean market is very importa

Mobility July 15, 2016

[THE INVESTOR] Car dealers are pushing to sell Volkswagen vehicles at reduced prices as the carmaker is likely to be banned from selling in South Korea for the cheating emission scandal. Online VW dealers have significantly reduced the price of its best-selling models such as SUV Tiguan. The price of Tiguan has decreased by 7 million won from 45 million won (US$ 39,432) to 38 million won in July. Sellers are offering more than 10 million won reduction, or 15 percent discount from the original pr

July 15, 2016

[THE INVESTOR] Prosecutors have requested the former chief of Audi Korea Trevor Hill and executives of Volkswagen headquarters in Germany to be present for questioning on their involvement in the widening probe into the German carmaker’s cheating emission scandal. Seoul Central District Prosecutors’ Office on July 14 said it has sent a request to the seven executives, including Hill, through the lawyer of Audi Volkswagen Korea on July 11. Trevor Hill, former chief of Audi Korea / The Investor“We

Mobility July 14, 2016