Most Popular
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Man arrested 16 years after murdering girlfriend, hiding body in cement
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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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Middle East’s big AI push lures Korean tech firms
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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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[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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GE Capital’s sale of Hyundai Capital stake to be decided in July
[THE INVESTOR] GE Capital will decide on the sale of its stake in Hyundai Capital Services within July, industry sources said on July 8. GE Capital currently holds 20 percent of Hyundai Motor Group’s financing arm. The US firm plans to unload the shares, and with no buyer appearing, GE Capital had planned to exercise the put option and resell to Hyundai Motor Group.Based on the most recent transaction regarding Hyundai Capital Services’ shares, its stake is likely to cost around 700 billion won
IndustryJuly 8, 2016
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FTC refuses to delay decision on SK-CJ merger
[THE INVESTOR] The Fair Trade Commission has refused CJ HelloVision’s request to delay its decision on the planned merger and acquisition deal with SK Broadband, an IPTV firm run by SK Telecom. FTC officials told Herald Business and The Investor that they would not be pushing back the schedule. Last week, the regulator handed down a preliminary decision to CJ and SK, saying that it opposes the merger, as it could hamper fair market competition by unleashing an excessively-dominant player. CJ an
TechnologyJuly 8, 2016
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More people paying maximum for health insurance as affluent population rises
The number of people paying the maximum for state-run health insurance, about 2.3 million won (1,990) a month, is increasing each year, health authorities said Friday, a sign that the number of rich people in South Korea is rising. Records from the Ministry of Health and Welfare and the National Health Insurance Service showed the number of the employed paying the maximum totaled 3,130 as of April, up from 2,508 in 2012. The number for the unemployed increased to 577 from 359.The employed group
July 8, 2016
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CJ HelloVision asks watchdog to postpone decision on M&A with SK Broadband
[THE INVESTOR] Cable TV operator CJ HelloVision has sought the antitrust regulator’s permission to delay a meeting for deciding on its planned merger and acquisition deal with SK Broadband, a local IPTV firm.To that end, it also said it would like to delay submitting a report on the matter. “We have asked the Fair Trade Commission to postpone its July 15 standing committee meeting by a month, and the report deadline to Aug. 4,” CJ HelloVision said in a statement, stressing that the schedule is t
TechnologyJuly 8, 2016
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Haier, CJ, Cuckoo may bid for Tongyang Magic
[THE INVESTOR] China’s Haier and Korea’s CJ and Cuckoo are surfacing as likely bidders to acquire Tongyang Magic, a local appliance maker whose key business is water purifier rental service. Toyang’s largest shareholders Glenwood Private Equity and NH Private Equity, both based in Korea, plan to send information memorandum to possible bidders next week with aims to start the bidding process from later this month. According to industry sources, Tongyang had long gauged its entry into the Chinese
IndustryJuly 8, 2016
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Qatar restricts visa issuance to N.K. workers: source
Qatar has been limiting the issuance of new visas to North Korean workers in line with international sanctions designed to starve Pyongyang of resources for its nuclear weapons program, a government source in Seoul said Friday.About 2,000 North Koreans are estimated to be working in the Middle Eastern nation to earn money for Pyongyang's nuclear weapons and missile development."Qatar is actively cooperating in terms of putting pressure on the North and taking steps to limit the issuance of new v
North KoreaJuly 8, 2016
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Lotte group chairman, founder placed under travel ban
Prosecutors said Friday they have put travel bans on the chairman of embattled South Korean retail giant Lotte Group and its founder as they widened their probe into allegations of corruption in the conglomerate.The Seoul Central District Prosecutors' Office has barred Chairman Shin Dong-bin and his father and Lotte founder Shin Kyuk-ho from leaving the country, according to the sources. Prosecutors have been widening their investigation into the country's fifth-largest conglomerate since early
CompaniesJuly 8, 2016
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Nat'l Olympic body to decide on Park Tae-hwan's Rio status after CAS ruling
The national Olympic body said Friday it will decide on the Summer Games status of banned swimmer Park Tae-hwan after the top sports tribunal hands down its ruling later in the day.At a board of directors meeting, the Korean Olympic Committee said it will wait until the Court of Arbitration for Sport rules on Park's earlier appeal before determining the swimmer's fate for the Rio de Janeiro Summer Games.Park, the 2008 Olympic gold medalist in the 400m freestyle, has filed an appeal at the CAS ov
Olympic GamesJuly 8, 2016
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Samsung shares Olympic spirit with new Galaxy S7 Edge
[THE INVESTOR] Tech giant Samsung Electronics unveiled the Galaxy S7 Edge Olympic Games Limited Edition in Sao Paulo, Brazil, ahead of the Rio Olympic Games to be held from Aug. 5 to 21.The latest handset features Olympics-inspired designs -- the colors of the Olympic Rings are featured in the phone’s home and lock screens as well as the message, dial and contact screens and notification bar. Wallpapers themed with the Rio 2016 Olympic Games are also featured.Working with the International Olymp
TechnologyJuly 8, 2016
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Korea probes Ford Explorers for exhaust fumes in cabin
[THE INVESTOR] South Korean government has launched an investigation into a possible defect in Ford Explorers, following the US probe into complaints that exhaust fumes are leaking into the cabin of the SUVs. The Ministry of Land, Infrastructure and Transport on July 7 said it opened the inquiry to see if the Ford units sold here have a similar problem, after the US’ National Highway Traffic Safety Administration began the investigation. Ford ExplorerAccording to US media outlets, there have be
IndustryJuly 8, 2016
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NH Investment buys Australian Red Cross‘ building for $86m
[THE INVESTOR] NH Investment & Securities said on July 8 that it bought the Australian Red Cross’ office building in Sydney for some 100 billion won (US$ 86.3 million). The South Korean securities firm raised real estate funds with FG Asset Management to acquire the 12,700-square-meter building in Kent Street, Sydney. Built in 2011, the five-story building is on a 15-year lease contract with the Red Cross. (theinvestor@heraldcorp.com)
IndustryJuly 8, 2016