Most Popular
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NewJeans has few options after Ador rejects group's request to reinstate Min Hee-jin as CEO
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College is expensive? In S. Korea, English preschools cost much more
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[Hello India] Hyundai Motor inches closer to IPO in India
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[Exclusive] Texas development exec shuts down layoff rumors at Samsung chip plant
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Panel decision put prosecution in dilemma over Dior bag case
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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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'Gyeongseong Creature Season 2': faster and ready to confront past
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2025 Trend Forecast: Small details, new happiness trend amid sluggish economy
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Global drama stars gather for 2024 Seoul International Drama Awards
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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Korea’s trade with China, US declines
[THE INVESTOR] Korea’s current account surplus with China fell nearly 20 percent last year due to the sluggish growth of the world’s second largest economy, central bank data showed June 17.The current account surplus with China came to $45.14 billion in 2015, a 19.5 percent decline from the previous year’s $56.06 billion, according to data from the Bank of Korea. The figure decreased for two straight years since 2013 when it reached $56.69 billion. Busan PortThe central bank cited a drop in ex
June 17, 2016
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Lotte suspected of giving favors to founder’s third wife
[THE INVESTOR] Lotte Group is suspected of giving business favors to a company controlled by its founder’s third wife Seo Mi-kyung, industry watchers said on June 17.Seo is among those being investigated for their involvement in the retail giant’s slush fund allegations. The 57-year-old Seo is the 1977 winner of the group’s Miss Lotte beauty pageant and has a 33-year-old daughter with Lotte founder Shin Kyuk-ho, now 93. Seo came into the limelight recently as prosecutors have widened their probe
IndustryJune 17, 2016
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SK hynix to launch LPDDR4X mobile chip later this year
[THE INVESTOR] SK hynix plans to launch more energy efficient, next-generation dynamic random-access memory or DRAM chip solutions into the market in the second half of this year. The chipmaker unveiled the plan at a meeting with suppliers held in Shenzhen, China, on June 16. The new solution, called low power double data rate 4 X or LPDDR4X, boasts 20 percent higher energy efficiency compared to the current LPDDR4.Samsung Electronics, the global No. 1 memory chip maker, had already announced th
IndustryJune 17, 2016
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Prosecutors search for evidence against agro body chief
[THE INVESTOR] The prosecution raided the office and home of National Agricultural Cooperative Federation chairman Kim Byeong-won on June 17 on suspicion of illegal activities during the election campaign. The NACF is Korea’s largest agroindustry body that counts NongHyup Financial Group among its affiliates. Its chairman is elected among chiefs of regional branches who run for office.NACF chairman Kim Byeong-won.The prosecution suspects that Kim took part in illegal campaign activities during t
June 17, 2016
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Stocks, bonds offer investment options amid low interest rates
With the central bank slashing its benchmark interest rate to a historic low of 1.25 percent, putting money in bank accounts will not increase people’s income, as bank deposit rates will drop in line with the key base rate.Experts recommend reallocating people’s funds in bank deposits to other assets that offer higher yields. Real estates may be an option, but not a lot of people can afford to invest in an apartment unless they borrow money from banks with low interest rates. Funds investing in
June 17, 2016
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LG Display starts boosting OLED production with W1tr investment
[THE INVESTOR] LG Display has started executing its 1 trillion won ($850 million) investment into Korean plants to beef up production of organic light-emitting diode panels for TVs and smartphones. The display-making unit of LG Group is also ordering new equipment from local suppliers, the Electronic Times reported on June 17. According to the report, the company is replacing the production line for liquid-crystal displays at its P8 plant in Paju, Gyeonggi Province, with those for larger OLED pa
TechnologyJune 17, 2016
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Samsung shows growing appetite for start-up M&As
[THE INVESTOR] Samsung Electronics has been actively seeking the merger and acquisition of start-ups over the past few years.The list of its takeovers showed that the world’s largest electronics manufacturer has been focused on making a move into the software and cloud sectors and beefing up its presence in the business-to-business segment.Since 2014, the Korean tech giant has acquired nine companies, including video app services developer firm SELBY in May 2014, SmartThings in August 2014, prin
TechnologyJune 17, 2016
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[Photo News] Tycoon and top regulator
Kumho Asiana Group chairman Park Sam-koo (left) meets Financial Services Commission chairman Yim Jong-yong during a policy meeting to boost culture and tourism at Cheong Wa Dae on Friday. Park attended the meeting in the capacity of chairman of the Visit Korea Committee. (Yonhap)
June 17, 2016
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Kakao to split its business into two arms
[THE INVESTOR] Mobile messenger operator Kakao is reportedly planning to split its services business into two divisions -- social network and portal.The social network division will be in charge of running its flagship social networking services including KakaoTalk and KakaoStory while the portal business will be operating news platform Daum News and content platform KakaoTalk Channel among others.KakaoTalk ChannelLim Sung-young, director of the firm’s media content team, will head the portal bu
CompaniesJune 17, 2016
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Green Cross seals record drug supply deal in Brazil
[THE INVESTOR] South Korea’s leading plasma-derived drugmaker Green Cross said Friday that it has secured a record-scale export deal to supply its flagship immunodeficiency drug IVIG-SN to Brazil. The Korean drugmaker is slated to supply $25.7 million worth of IVIG-SN — human normal immunoblobulin G for intravenous administration — to Brazil starting from July until March of next year, the company said. IVIG-SN Green CrossIt marks the largest single order of IVIG-SN secured by the company since
IndustryJune 17, 2016
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[Weekender] Money doesn’t come easy
There is a saying, “Money does not grow on trees.” One has to work really hard to earn it.But making an honest buck in this age of low interest rates and low growth has become harder than ever.It is not as if Koreans do not work hard. In fact, Koreans work the longest hours after Mexicans in the Organization for Economic Cooperation and Development. Koreans worked 2,124 hours in 2014, according to the latest data.Working long hours does not necessarily mean that they work hard. But still, averag
June 17, 2016
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Korean shares up in late morning trading
South Korean shares traded 0.47 percent higher late Friday morning on eased worries over a British exit from the European Union after Britain suspended a campaign following a lawmaker's death. The benchmark Korea Composite Stock Price Index advanced 9.27 points to 1,961.26 as of 11:20 a.m.Market kingpin Samsung Electronics gained 1.35 percent, and Korea Electric Power Corp., the state-run power provider, rose 0.69 percent. Auto shares were down, with industry leader Hyundai Motor declining 0.37
June 17, 2016
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Korea's current account surplus with China tumbles 19.5% in 2015
South Korea's current account surplus with China sank nearly 20 percent last year due mainly to a slowdown in the world's second-largest economy, central bank data showed Friday.The country's current account surplus with China, its largest trade partner, reached $45.14 billion in 2015, down 19.5 percent from the previous year's $56.06 billion, according to the data compiled by the Bank of Korea.The figure fell for two straight years after peaking at $56.69 billion in 2013.Last year, Asia's fourt
June 17, 2016
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Hyundai Steel's No. 1 blast furnace to be normalized next month
Hyundai Steel Co., South Korea's No. 2 steelmaker, announced Friday that its original blast furnace in Dangjin, central South Korea, could be normalized next month.The daily steel output of the blast furnace in Dangjin, about 120 kilometers south of Seoul, has recently dropped to about 3,000 tons a day, or 30 percent of its normal output.Hyundai Steel said the temperature in the No. 1 blast furnace dropped below 1,500 C, the melting point of steel, due to a problem in heat transmission inside th
IndustryJune 17, 2016