Most Popular
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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Middle East’s big AI push lures Korean tech firms
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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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[Herald Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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[Exclusive] Democratic Party of Korea forms US election task force
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Man arrested 16 years after murdering girlfriend, hiding body in cement
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[Grace Kao] NewJeans fights Hybe for their survival
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NK nuclear test 'possible' around US election in Nov., says Yoon aide
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[News Focus] Ex-Moon aide slammed from both sides over remarks on leaving Koreas divided
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What will Yoon, Han talk about at dinner?
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Korea-China FTA boosts cross-border investment
[THE INVESTOR] Cross-border investment between South Korea and China has risen sharply this year, fanned by the Korea-China free trade agreement, industry data showed on July 13. The trade pact took effect in December 2015. According to the Kora International Trade Association, South Korean entities invested US$2.2 billion in China during the first five months of the year. The figure is 12.2 percent higher than that recorded during the same period last year. The Korea-China FTA signing ceremony
July 13, 2016
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Dayou Winia to supply rice cookers to Haier’s Casarte
[THE INVESTOR] Dayou Winia, Korean appliance maker best known for its kimchi refrigerators, said on July 13 that it will supply the first batch of 2,000 rice cookers to Casarte, a premium appliance brand owned by China’s Haier Group. The rice cookers, named the Dimchae Cook, will be sold through Haier’s some 33,600 sales outlets nationwide in China. The Korean firm plans to supply a total of 5,000 rice cookers to Casarte this year and to expand the number to more than 30,000 next year. On July 4
IndustryJuly 13, 2016
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[EQUITIES] Mirae Asset forecasts improved earnings for LG Hausys in H2
[THE INVESTOR] Mirae Asset Securities on July 13 issued a report saying it expects construction materials producer LG Hausys’ earnings to improve in the latter half of this year.During the second quarter, the firm’s sales and operating profit was estimated at 755.6 billion won (US$656.54 million) and 50.9 billion won, respectively. The figures are in line with market consensus. The report said a B2B construction materials market expansion this year is expected to continue bolstering the firm’s g
July 13, 2016
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LG Innotek to build new plant in Vietnam under pressure from Apple: report
[THE INVESTOR] Electronic components producer LG Innotek has recently decided to build a camera module plant in Vietnam, reportedly pushed by Apple to reduce supply prices. According to news reports, the Korean firm plans to build a new camera module plant in Haiphong City, Vietnam, with the full capacity operation scheduled to start from 2018. LG Innotek’s camera modules. LG Innotek“Apple has requested LG Innotek to newly establish a camera module plant in Vietnam where labor cost is much cheap
TechnologyJuly 13, 2016
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Hanwha Techwin, GE team up to develop KF-X engine parts
[THE INVESTOR] Hanwha Techwin said on July 13 that the company has teamed up with GE Aviation to jointly develop engine parts for Korea’s flight-jet development project KF-X.The KF-X is aimed at locally developing the twin-engine combat jets equipped with advanced aviation electronics equipment by 2026. An artistic rendering of KF-X flight-jetHanwha Techwin, a defense unit of Hanwha Group, plans to lead the integration and installation of the engines into the KF-X jets, building the munition sup
IndustryJuly 13, 2016
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Samsung to withdraw W7.6tr Saemangeum investment plan: report
[THE INVESTOR] Samsung Group is expected to announce the official withdrawal of its 7.6 trillion won (US$6.60 million) investment proposal in the Saemangeum development project this month, the Seoul Shinmun reported on July 13. Saemangeum is an area comprising reclaimed tidal land situated on the southwest coast of Korea. Currently, it is being developed as a free trade and economic zone. A rendering of the Saemangeum free trade zoneThe news daily said Samsung’s withdrawal could deal a huge blow
TechnologyJuly 13, 2016
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Gov't becoming bigger driver of economic expansion: KDI
The main driver of South Korea's economy is shifting from the private sector to the government, who last year contributed to one-third of the country's economic growth, a think tank said Wednesday.South Korea's economy expanded 2.6 percent last year, with the government contributing 0.8 percent, according to the Korea Development Institute. State spending helped with 0.5 percent and government investment contributed 0.3 percent. Without such contribution, the country's economic growth last year
July 13, 2016
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Korea to announce site for deploying THAAD: defense ministry
South Korea will announce the site for deploying a Terminal High Altitude Area Defense system later in the day, the defense ministry said Wednesday.The decision for the location will be announced at 3:00 p.m., the Ministry of National Defense said in a brief media release.Last week, South Korea and the United States' militaries officially unveiled their agreement to place the high-tech anti-ballistic missile defense system in South Korea to counter North Korea's nuclear and missile threats.The a
DefenseJuly 13, 2016
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Ford to recall 948 Mustang sports cars for airbag problems
Ford Sales & Service Korea Inc., the local importer and distributor of the U.S. car brand, will recall 948 units of Mustang sports car for problems with their airbags as part of the company's worldwide recall plan, the South Korean transport ministry said Wednesday.The models' airbags, produced by Japan's Takata Corp., were found to have a problem in the inflator unit, which can send metal fragments flying and injure vehicle occupants in case of a crash, said the Ministry of Land, Infrastructure
MobilityJuly 13, 2016
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PM vows no tolerance of civil servants' wrongdoings
Prime Minister Hwang Kyo-ahn on Wednesday said the government will tighten oversight and take swift disciplinary action against civil servants who step out of line following a derogatory remark made by an education ministry official that has stirred public anger."It is hard to give excuses in regards to inappropriate remarks made by civil servants," Hwang said. "These mishaps are weighing down government's credibility and workers' morale."Last week, an education ministry official referred to peo
Social AffairsJuly 13, 2016
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Samsung to unveil Galaxy Note 7 next month
South Korean tech giant Samsung Electronics Co. said Wednesday that it will showcase its new high-end smartphone model, the Galaxy Note 7, in the United States next month.The showcase event will take place on Aug. 2 in New York and will be streamed live on the tech firm's website, according to Samsung. (Yonhap)Similar events will be held simultaneously in London and Rio de Janeiro, the company said.The released invite suggests that the new Note will offer an iris scanner, which uses the unique p
TechnologyJuly 13, 2016
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Leaders of Korea, Switzerland to hold summit on bilateral cooperation
The leaders of South Korea and Switzerland will hold a summit in Seoul on Wednesday to discuss bilateral cooperation in trade, investment, science, security and other areas, the presidential office here said.President Park Geun-hye and her Swiss counterpart, Johann Schneider-Ammann, are also expected to discuss joint efforts to pressure North Korea to abandon its nuclear and missile programs through the strict enforcement of international sanctions and other means.The Swiss president's two-day t
InternationalJuly 13, 2016
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KT teams up with Samsung, Warner Bros to promote HDR tech
[THE INVESTOR] South Korean network operator KT has joined hands with tech giant Samsung Electronics and media content producer Warner Bros. Home Entertainment to commercialize high-dynamic-range imaging -- a next-generation video technology that produces more dynamic images.During a media event on July 12 in Seoul, KT unveiled a lineup of services and products utilizing HDR. Yoo Hee-kwan, KT’s head of media business, introduces the firm’s HDR services at the press meeting in Seoul on July 12. K
TechnologyJuly 13, 2016
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[EQUITIES] Yuanta Securities forecasts Samsung Electronics’ 2017 operating profit at W31tr
[THE INVESTOR] Yuanta Securities said in a July 13 report that Samsung Electronics is likely to maintain strong growth next year. Its estimates showed the world’s largest tech company posting an annual operating profit of 31 trillion won (US$ 26.93 billion) on a consolidated basis in 2017. The release of the next iPhone from Samsung’s global rival Apple may pose a risk in the latter half of 2017, the report said, but expected solid growth in semiconductor chips and displays will offset it.In the
July 13, 2016
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[EQUITIES]SK Securities sees LG Display performance rebounding in Q3
[THE INVESTOR] SK Securities said LG Display -- the world’s No.1 producer of large-sized LCD-panels -- is expected to see its third-quarter earnings rebound following significant declines in the second quarter.“A fall in liquid-crystal display panel supply, combined with reduced production from Samsung Display, is likely to push up panel prices in the third quarter,” the brokerage said in a report on July 13. Its estimates showed LG Display’s third-quarter sales at 6.79 trillion won (US$5.89 bil
July 13, 2016