BOK chief warns uncertainties will continue to rise

The head of South Korea's central bank on Wednesday noted that financial and economic uncertainties remain high at home and abroad, and will likely rise for some time, demanding what he called cautious monetary and financial policies.Citing a recent newspaper report, the Bank of Korea governor said the only thing central banks are certain of are high uncertainties."Uncertainties at home and abroad are continuing to increase, and they may further expand following the outcome of the upcoming vote

June 22, 2016

Prosecutors seek arrest warrant for VW Korea executive

[THE INVESTOR] Prosecutors on June 21 filed for an arrest warrant for the head of certification unit of Audi Volkswagen Korea over the automaker’s emission rigging scandal. The head, identified by his surname Yoon, has been charged with fabrication of private documents and obstruction of justice, Seoul Central District Prosecutors’ Office said. Yoon is the first executive in the snowballing case for whom prosecutors are seeking an arrest warrant. According to prosecutors, Yoon is suspected of ma

MobilityJune 22, 2016

Korean authorities scrutinize Euro 6 vehicles in VW emissions probe

[THE INVESTOR] The prosecution team looking into Volkswagen’s emissions manipulation case are now inspecting models advertised as meeting Euro 6 emissions standards, a local daily reported on June 22. According to reports, Seoul Central District Prosecutors’ Office has requested 2015 Audi A1 vehicle to be inspected, making it the first Euro 6 vehicle to be included in the probe.About 280 units of 2015 A1 have already been sold in Korea. The 2015 Audi A1 lineup includes engines shared with 2016 A

MobilityJune 22, 2016

N. Korea botches fifth Musudan missile test-launch

North Korea launched what appeared to be a Musudan intermediate-range ballistic missile from its east coast early Wednesday morning, but the launch again ended in failure, the Joint Chiefs of Staff said."The North launched one missile presumed to be Musudan from areas near Wonsan at around 5:58 a.m., but it is assumed to be unsuccessful," the JCS said in a brief release. (Yonhap)The latest launch failure marks the fifth in the North's back-to-back test launches of the mid-range Musudan. On April

North KoreaJune 22, 2016

Samsung to invest $1.2 billion in U.S. IoT business

Samsung Electronics Co., South Korea's No. 1 tech firm, announced Tuesday that it will pour $1.2 billion by 2020 into the Internet of Things business in the United States, as part of its global initiative to create a new IoT ecosystem, a hot issue in the ICT world.Samsung also launched an advisory group in partnership with Intel Corp. to affect U.S. policy on IoT."I am excited to show how we are moving IoT to the center of our strategy and am delighted to announce that Samsung is planning to spe

CompaniesJune 22, 2016

Samsung vows to invest $1.2b in US for IoT tech

[THE INVESTOR] Desperate to find new future growth engines, Samsung Electronics is betting big on the Internet of Things, a network technology which connects objects with humans.The electronics giant has announced a package of plans to grow the business for the connected technology at the Internet of Things Policy Dialogue, an industry conference held at the head office of the US daily Washington Post in Washington on June 21.Kwon Oh-hyun, Samsung Electronics’ vice chairman delivers a speech und

TechnologyJune 22, 2016

Korea Exchange seeks cross-listing with Hong Kong Exchanges

[THE INVESTOR] The Korea Exchange has signed a letter of intent with Hong Kong bourse operator, the Hong Kong Exchanges and Clearing, to cross-list their stocks. Under the deal, futures on the Mini KOSPI 200 will be available in Hong Kong while futures on the H-shares index will become listed on the local bourse. If successful, the Korea Exchange will become the first foreign country to list futures on the H-share index. H-Shares, indicating shares of companies incorporated in mainland China tha

June 21, 2016

[Graphic News] Record 65 million people displaced worldwide: U.N.

The number of refugees and others fleeing their homes worldwide has hit a new record, spiking to 65.3 million people by the end of 2015, the United Nations said Monday. Europe’s high-profile migrant crisis -- its worst since World War II -- is just one part of a growing tide of human misery led by Palestinians, Syrians and Afghans.Globally, close to 1 percent of humanity has been forced to flee.The figures, released on World Refugee Day, underscore the unprecedented global displacement crisis.

World NewsJune 21, 2016

Samsung Galaxy Note 7 likely to have curved screen: report

[THE INVESTOR] Samsung Electronics’ new Note phablet, tentatively called “Galaxy Note 7,” is expected to have a curved screen, indicating the Korean tech giant’s commitment to a dual-edge curved display for its Galaxy smartphones. 　According to local daily Munwha Ilbo, Samsung is not considering launching a flat screen version of the Note phone.  The Galaxy Note 7 will be unveiled at an unpacked event held in New York in August. It will become the first Note phone with a curved screen. 　Citing i

TechnologyJune 21, 2016