Most Popular
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Torrential rainfall forces 1,500 to evacuate, causes widespread damage to homes, roads
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[KH Explains] Can smart chargers ease tensions over EV fires?
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1 in 5 households to have breadwinner over 80 in 30 years
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Assembly to review disputed appointment of national soccer team coach
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New Fifty Fifty off to strong start
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Arrival of fall calls for more outdoor festivals
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[Herald Interview] US election may unleash growth for Korea: Laffer
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Evicted guest burns down inn; 3 killed
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Yoon's Prague visit sets stage for W24tr nuclear power plant deal
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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Korea expands tax breaks to spur jobs
(Yonhap)The South Korean government will expand through a legal revision its policy to provide more tax breaks for corporate research and development costs and employment as a means to develop the country’s next growth engines and boost job creation.The Finance Ministry announced Thursday it would have the high-income group and conglomerates pay more taxes while easing the tax burden on the low- and middle-income brackets and small businesses.“This is in line with efforts to run a reasonable and
July 28, 2016
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Samsung Electronics reaps W8tr profit in Q2
Samsung Electronics posted its best quarterly results in more than two years and it expects continued solid performance in the latter half of this year. The tech giant said Thursday it posted 8.1 trillion won ($7.2 billion) in operating profit in the second quarter, an 18 percent jump on-year. Revenue for the quarter rose 4.9 percent to 50 trillion won.The growth was mainly driven by its mobile business, which posted 4.3 trillion won in operating income. Its flagship smartphone Galaxy S7 series
TechnologyJuly 28, 2016
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Presidential pardons might help guilty driver get new license
Presidential pardons, usually given on National Liberation Day, Aug. 15, might help the bus driver behind the five-car pileup on Yeongdong Expressway receive a new driver‘s license, local news reports said.Bang, the bus driver responsible for the crash that killed four and injured 37 on July 17, is currently being pressed in a criminal suit. However, the administrative penalty that nullified his driver’s license might be subject to presidential pardons. (Yonhap)Gangwon Pyeongchang Police, who ar
Social AffairsJuly 28, 2016
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Hyundai Heavy records ‘surprise’ profit, rivals likely to see losses
Hyundai Heavy Industries made a “surprise” operating profit in the second quarter of the year, but two other rival shipbuilders are projected to post losses, analysts said Thursday. Samsung Heavy Industries, which is scheduled to release its Q2 earnings Friday, is expected to post an operating loss, due mainly to the delay of two major projects.The company’s project to build Prelude floating liquefied natural gas facilities for multinational firm Shell has been delayed to April next year. The p
IndustryJuly 28, 2016
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Girl, 14, drives 100 km without license, overturns car
A 14-year-old girl drove a car over 100 kilometers without a driver’s license and overturned the car at a roundabout, injuring herself and three passengers, the Gangwon Hwacheon Police said Thursday. According to police, four teenage girls, including the driver surnamed Song and her older sister, were traveling from Suwon, Gyeonggi Province, to Hwacheon, Gangwon Province, where Song’s maternal grandmother lives.(YTN News capture)The vehicle belonged to Song’s father and was taken out without per
Social AffairsJuly 28, 2016
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Mongolia's first E-mart opened on July 28
[THE INVESTOR] The first E-mart in Mongolia welcomed customers on July 28. The South Korean retail giant’s first discount chain opened in Ulaanbaatar, the first big box store in Mongolia. Instead of directly operating the outlet, E-mart has signed a contract with SKY Trading, a local distribution unit of Altai Group. It exports the brand, operation management manual and products for a royalty, a first for Korean enterprises. Taking over 7,590 square meters, the store almost exactly brings its Ko
IndustryJuly 28, 2016
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Samsung SDI suffers operating loss in Q2
[THE INVESTOR] Samsung SDI, the battery arm of Samsung Group, posted operating loss of 54.2 billion won (US$48.13 million) in the second quarter, the company said in its quarterly earnings report on July 28. The company, however, narrowed its losses from 58.81 billion won a year earlier and 703.75 billion won from the previous quarter. Sales stood at 1.31 trillion won, up 11.95 percent on-year. In the April-June period, the net profit came to 955.8 billion won, reversing a loss of 310.3 billion
TechnologyJuly 28, 2016
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Samsung Engineering Q2 operating profit falls 82%
[THE INVESTOR] Samsung Engineering, South Korea’s largest builder of engineering projects, posted on July 28 an 82.6 percent fall in second-quarter operating profit, struggling to recover from last year’s slump even after clearing off massive losses led by reverses in the Middle East. The plant engineering unit of Samsung Group narrowly avoided losses in the April-June period by posting 3.5 billion won (US$3.10 million) in operating profit and 2.3 billion won in net profit, up 44 percent on-year
IndustryJuly 28, 2016
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Loan rates drop to record low in June
[THE INVESTOR] The interest rate on residential property-backed loans dropped to a record low in June, Band of Korea data showed on July 28.According to the BOK, the average interest rate on residential property-backed loans dropped to 2.77 percent in June, lowest seen since the BOK began compiling related data in September 2001. The previous record low was 2.81 percent in April 2015. (123rf)The average interest rate on all household loans dropped 0.1 percentage point from May to come in at 3.0
July 28, 2016
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SMEs expect conditions to toughen in Aug.
[THE INVESTOR] South Korean SMEs are expecting a difficult August, survey showed on July 28.According to a survey conducted by the Korea Federation of SMEs, local SMEs projected a difficult August, putting the Small Business Health Index for August at 87.9 points. Small Business Health Index, or SBHI, of lower than 100 indicates that the surveyed companies expect conditions to worsen in the coming month.This is the third straight month in which the SBHI has dropped since June. By sector, manufac
IndustryJuly 28, 2016
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SK Telecom to increase capex this year
[THE INVESTOR] SK Telecom said July 28 that it would increase its capital expenditure by 100 billion won (US$88.90 million) to 2.1 trillion won this year to upgrade its existing telecommunications infrastructure.The company announced the investment plan after announcing its second-quarter earnings on the day. The head office of SK Telecom in SeoulSome market watchers considered the latest decision an unexpected move as the nation’s telecom market has reached a near-saturation point.The mobile ne
TechnologyJuly 28, 2016