Most Popular
-
1
NewJeans has few options after Ador rejects group's request to reinstate Min Hee-jin as CEO
-
2
Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
-
3
Host of Miss Korea apologizes for 'inappropriate question' about deepfake
-
4
Panel decision put prosecution in dilemma over Dior bag case
-
5
Korea to face another massive shortfall in tax revenue
-
6
2025 Trend Forecast: Small details, new happiness trend amid sluggish economy
-
7
Global drama stars gather for 2024 Seoul International Drama Awards
-
8
SK hynix outpaces Samsung, Micron with more powerful AI chips
-
9
Power of nostalgia brings K-pop legends back together
-
10
North Korea unveiling uranium enrichment site a US election-conscious move: NIS
-
Shareholder actions affect Samsung SDS’ asset divest plan
Samsung SDS, a key information and technology arm of Samsung Group, is likely to choose a split-off rather than a spin-off to reorganize its lucrative business process outsourcing business unit, which is aimed at easing opposition of minority shareholders, according to market watchers on Monday. “Facing a growing number of activist shareholders, the Samsung unit is likely to choose a split-off to minimize the impact of its asset divest plan on its share price,” HI Investment & Securities said in
IndustryJune 14, 2016
-
[KOSDAQ Star] Autech -- small, but big, special vehicle-maker
This is the 12th in a series of articles analyzing major companies by market capitalization traded on the tech-heavy KOSDAQ market. -- Ed.Driving down the road when suddenly an ambulance screeches by with red sirens flashing and calling out to clear the way, another driver would naturally see the special vehicle belongs to a nearby hospital, without thinking of where it came from.Actually, almost all of the ambulances on the road speeding by in Korea come from KOSDAQ-listed tech company Autech.A
June 14, 2016
-
Samsung Electronics to hold strategic meeting next week
Samsung Electronics Co. said Monday it will hold its global strategic meeting next week, where top executives will share ideas on finding sustainable growth engines.The two-day meeting slated for June 21-22 will be held at its headquarter located in Suwon, south of Seoul. Around 400-500 executives from home and abroad usually attend the biannual gathering.Executives will share ideas on maintaining growth amid the prolonged global economic slump during the close-door event, industry watchers said
IndustryJune 13, 2016
-
Samsung Galaxy S8 likely to come with 4K UHD display
[THE INVESTOR] Samsung Electronics’ next flagship smartphone, tentatively dubbed Galaxy S8, is likely to come with a 5.5-inch, 4K UHD display, a market research firm said Wednesday. The Korean tech giant would become the first smartphone-maker to pack 4K resolution into its flagship smartphone, even though Sony last year released the Z5 Premium with such a panel. “Samsung Display showcased a 5.5 ultra-high definition 4K display with a pixel density of 806 ppi for virtual reality devices at the
TechnologyJune 13, 2016
-
Prosecutors summon VW exec over emissions scandal
South Korean prosecutors said Monday they had summoned an executive of Audi Volkswagen Korea for questioning on charges against the automaker that include selling cars that had not received required certification and fabricating test results on fuel efficiency. The executive in charge of certification of the Korean arm is reportedly to be summoned at least three to four times for testimony. During the investigation, he may become a suspect, industry watchers said. This is the first probe into th
BusinessJune 13, 2016
-
Deutsche case leaves a lasting scar on Korea
[THE INVESTOR] On Nov. 11, 2010, with just 10 minutes for the stock market to close in Seoul, traders of Deutsche Bank dumped 2.4 trillion won ($2.05 billion) worth of Korean shares, triggering a 2.7 percent drop on the country’s main KOSPI index. The massive and coordinated sell-off by Deutsche employees in Hong Kong and Seoul wiped out 28 trillion won in value from Korea’s equity market, but the German bank reaped a profit of 44.9 billion won through derivative positions it had built in advanc
June 13, 2016
-
[EXCLUSIVE] Korean prosecutors’ inaction stalls justice for ex-Deutsche traders accused of rigging
[THE INVESTOR] Key suspects in Korea’s biggest stock price manipulation case are living a not-so-secret life in Hong Kong and Australia, while Korean prosecutors have made hardly any efforts to bring them to justice, an investigation by The Korea Herald has found.The suspects are Derek Ong and Phillip Lonergan, two of the three former Deutsche Bank employees facing criminal charges in Korea in relation to a 2010 stock rout. Local authorities have failed to extradite the three -- nationals of the
June 13, 2016
-
[Graphic News] Global electric vehicle sales surpass 1 million
Accumulated global electric vehicle sales reached 1.2 million as of last year, according to a report compiled by the Organization for Economic Cooperation and Development and the International Energy Agency released Sunday. A total of 550,000 EVs including battery electric vehicles and plug-in hybrid electric vehicles were sold last year, which is a 70 percent increase compared to the 324,000 EVs sold in 2014. The number of newly registered electric vehicles in China was the highest last year wi
MobilityJune 13, 2016
-
Probe evaporates W1tr from Lotte firms’ market cap
[THE INVESTOR] The combined market capitalization of the nine Lotte Group firms listed on local markets dropped by more than 1 trillion won ($851.8 million) on Monday.The drop is thought to have been driven by the expanding corruption probe centered on the members of its founding family -- Shin Kyuk-ho and his two sons Shin Dong-joo and Shin Dong-bin. At the end of the market close on Monday, nine listed Lotte Group firms’ shares dropped compared to the closing prices on Friday. (The Korea Heral
June 13, 2016
-
[LOTTE CRISIS] Elder son of Lotte founder to renew fight for control
[THE INVESTOR] Shin Dong-joo, the elder son of Lotte Group founder Shin Kyuk-ho, is readying for a new round in the fight for control of the conglomerate. According to local news reports, Shin Dong-joo’s legal team has found “elements that could be problematic” in Hotel Lotte’s books, and plans to disclose the information “at the appropriate time.”Shin Dong-joo at a press conference in Seoul last year. The InvestorShin Dong-joo had hoped to succeed his father as the group’s chairman, but was ous
MobilityJune 13, 2016
-
Samsung Display doubles OLED shipments in Q1
[THE INVESTOR] Samsung Display’s shipments of organic-light emitting diode panels have more than doubled over the past year, as global smartphone manufacturers, including those in China, are increasingly adopting OLED displays. UBI Research, a local market research firm that specializes in OLED, estimates that Samsung’s OLED shipments have soared to about 86.7 million units in the first three months of this year. The research results were obtained by The Investor, an online English business webs
TechnologyJune 13, 2016
-
LG Chem to supply desalination filters to Omani plant
[THE INVESTOR] LG Chem, one of Korea’s leading chemical companies, has been picked as the exclusive supplier of seawater filters for a desalination plant in Oman, the company said Monday. The LG Group affiliate said it would supply by the end of this year about 20,000 reverse osmosis desalination filters, which can process 250,000 tons of seawater a day, to the plant being built by water desalination plant operator Sohar SWRO in Sohar, Oman.The head office of LG Group in Seoul. (Yonhap)Reverse o
June 13, 2016
-
False promotions for plastic surgery
Online promoters of cosmetic surgery clinics who claim to have gone through plastic surgery are not to be taken at face value, according to the latest court judgment Monday. The Busan District Court found two online community leaders, respectively surnamed Lee and Song, guilty of falsely advertising cosmetic surgery clinics by pretending to have received procedures there, bagging a total of 600 million won ($510,000) in return.The court said that many patients who contemplate cosmetic surgery ma
Social AffairsJune 13, 2016
-
Hotel Lotte withdraws IPO plan
[THE INVESTOR] Hotel Lotte on Monday officially canceled its initial public offering scheduled for next month, as a large-scale embezzlement probe into the group and its affiliates deepened with emerging reports of confirmed wrongdoings.“We are pushing back our IPO to a later time and cancelling all remaining procedures in consideration of Lotte’s current circumstances and investor interests,” Hotel Lotte said in an emailed statement.“Listing the company is an integral part of reforming Lotte Gr
June 13, 2016
-
Mount Sapae murder suspect to face warrant hearing
The man who allegedly murdered a lone female hiker in Mount Sapaesan in Uijeongbu, north of Seoul, is set to have his arrest warrant hearing Monday. Police requested an arrest warrant for the suspect, aged 45 and surnamed Jeong, on Sunday under charges of robbery and murder. They are currently investigating relevant CCTV records and Jeong’s telephone conversations, as well as matching his testimony with his actual path of actions. (Yonhap)While the police provisionally reached the conclusion Sun
Social AffairsJune 13, 2016
-
K-ICT Born2Global Center and its Members ① Status
In March of this year, the Start-up Campus officially opened in Pangyo, Gyeonggi-do, welcoming with it the addition of the Seoul Sangnam-dong K-ICT Born2Global Center (aka, the Born2Global Center). The Born2Global Center is a start-up incubator affiliated with the Ministry of Science, ICT, and Future Planning. The center, which provides support to start-ups created with the intent of entering foreign markets, currently houses 46 companies selected based on assessments of their individual busines
IndustryJune 13, 2016
-
[Editorial] Silence on reforms
The ruling Saenuri Party launched a reform committee on June 2, but the panel, which also acts as the party’s interim leadership until a new leader is elected, has not yet proposed any major reform agenda.The committee is led by Kim Hee-ok, a former head of the Government Public Ethics Committee. When Kim was tapped for the party’s interim leadership, many wondered how the former Supreme Court justice with no political experience would reform the conservative party, which is riddled with faction
EditorialJune 13, 2016
-
[Editorial] Lotte probe
Lotte Group, Korea’s fifth-largest conglomerate, is facing an investigation into allegations that its chairman and other top executives embezzled corporate money to create slush funds.Some 200 investigators raided Friday the group’s headquarters and six major affiliates to seize hard disk drives and accounting books. They also searched the homes and offices of the group chairman, Shin Dong-bin, and other key officials.Prosecutors are focusing on asset deals among Lotte subsidiaries, suspecting t
EditorialJune 13, 2016
-
China verifying report that N. Korean agent arrested in Dandong
China's foreign ministry said Monday that it is verifying a Japanese media report that a senior North Korean agent was arrested in the Chinese border city of Dandong earlier this month.Citing multiple sources close to relations between North Korea and China, Japan's Yomiuri newspaper reported on Sunday that the North Korean agent was arrested at his home in Dandong and Chinese authorities confiscated 30 million yuan ($4.54 million) and gold bars. The report did not specify what charges were soug
North KoreaJune 13, 2016
-
[Christopher Balding] One Chinese city has figured out the future
China‘s Xi Jinping recently declared that he wants China to rank as one of the world’s most innovative countries by 2020 and to top the list by mid-century. Going by past practice, this probably means a lot more money being poured into dodgy start-ups and ill-conceived high-tech schemes. There’s a better model to be found, however, one that’s surprisingly close to home: the southern boomtown of Shenzhen. The city‘s Nanshan district, home to a huge High-Tech Industrial Park, is now China’s riches
ViewpointsJune 13, 2016