Most Popular
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[Exclusive] Democratic Party of Korea forms US election task force
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Seoul seeks to improve foreign nanny program after two abscond
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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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[Grace Kao] NewJeans fights Hybe for their survival
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Samsung, top banks to create W2tr green growth fund for SMEs
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Malnutrition cases nearly triple in last 5 years
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An increasing number of K-pop idols are breaking free from big agencies. Why?
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KFA Chair denies unfair hiring of national coach
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Couple welcoming quintuplets to receive over W170m in childbirth grants
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Korean automakers pressured to diversify supply chains as US bans Chinese tech
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[DECODED] Widening Lotte probe rattles nerves in business circles
The unprecedented intensity of the recent prosecutorial raids of Lotte Group, the nation’s largest retail giant and fifth-largest conglomerate, has created anxiety in local industrial circles that any company could become the next target.Several reputed corporations of various size and sector have already come under investigation in recent years and their common element, according to industrial and political observers, is their close relationship with the former President Lee Myung-bak administr
IndustryJune 23, 2016
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Under fire, KDB plans faster withdrawal from bailed-out companies
Korea Development Bank, a state policy bank under fire for mismanagement of bailed-out companies, said Thursday it would exit from its ownership of 46 companies this year, raising the count by 10 from its earlier plan. “From 2016 to 2018, we’ll be exiting from our investments in 132 nonfinancial companies,” the Seoul-based bank said in a statement. Korea Development Bank headquarters (Yonhap)After the planned 46 sales this year, the auction process will begin for 44 companies in 2017 and for an
June 23, 2016
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[Jawed Naqvi] An elite club of suicide bombers
The middle classes that quake at the thought of gore and fascist hordes seem incorrigibly sanguine about a possible nuclear confrontation in South Asia with both India and Pakistan vying to join the Nuclear Suppliers Group.It is always baffling, isn’t it, to see the yawning difference in our responses in South Asia to a gathering communal threat, for instance, as opposed to the catastrophic prospect of nuclear annihilation? Only recently, Pakistan toggled between public outcry and terrified whis
ViewpointsJune 23, 2016
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‘Unfriending’ the environment
Lack of knowledge on environmental issues is blamed for lenient verdicts given by Indonesian courts to those deemed responsible for the destruction.Enforcement of the law against those who commit environmental crimes in Indonesia has proved to fail as a deterrent. A series of trials of corporations held responsible for devastating and widespread forest and land fires last year ended in an anticlimax, sending the worrying message that burning forests is permissible.The recent acquittal of Frans K
ViewpointsJune 23, 2016
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[Salman Haider] India, the Silk Road and pan-Asian initiatives
The sporadic discord and skirmishes notwithstanding, Sino-Indian ties still move on an even keel of cooperation and engagement. The Silk Road project — linking China to all the major business and cultural hubs across Asia — might enhance the scope of friendshipThere is no letup in China’s effort to give body and substance to its initiative of reviving the fabled Silk Road. In its earliest form, this was a caravan route across the heart of Asia to carry Chinese products, silk above all — hence th
ViewpointsJune 23, 2016
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[John Kass] Democrats not letting crisis go to waste
In the aftermath of the Orlando massacre, the Democrats applied a law that serves them well: “Never let a good crisis go to waste.”So they used the bodies of the dead as leverage for their politics and framed the national debate in terms of gun control rather than terrorism inspired by the radical jihadists of Islamic State group. It was all about protecting their presumptive Democratic Party presidential nominee, Hillary Clinton. They had to protect her. So they shouted about the guns.All that
ViewpointsJune 23, 2016
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[Rex Huppke] Senate disgracefully fails us on gun control
On Monday, eight days after 49 people were gunned down in an Orlando nightclub by a terrorist claiming allegiance to the Islamic State group, the U.S. Senate voted down four different gun control proposals, two from each party.Democrats saw the Republican proposals as too weak. Republicans saw the Democratic proposals as too tough.So nothing happened. There was no agreement on a way to keep people who are on the country’s terrorist watch list from buying guns capable of slaughtering dozens in m
ViewpointsJune 23, 2016
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HMM mulls joining 2M Alliance
[THE INVESTOR] Hyundai Merchant Marine is considering joining the 2M Alliance, a vessel-sharing agreement between Denmark’s Maersk Line and Switzerland’s Mediterranean Shipping Company -- the world’s first and second largest container carriers. Amid growing speculation that Korea’s second-largest shipping company is set to join the alliance, a HMM official confirmed that discussions are ongoing with the alliance parties on June 23. Previously, HMM had tried to enter another six-party partnership
June 23, 2016
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Samsung SDS shareholders call on NPS for support
[THE INVESTOR] Minor shareholders of Samsung SDS are reaching out to the National Pension Service in their fight against the company’s reorganization plans. Samsung SDS is reviewing plans to spin off some of its businesses including the logistics operations. Since Oct. 19, Samsung SDS stock has been on a downward slope with prices down by half since then. The minor shareholders’ association has put the blame squarely on the company’s spin-off plans, and has been demanding action from Samsung SDS
June 23, 2016
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KRX to reform commission system
[THE INVESTOR] Korea Exchange plans to revamp its commission fee structure, the country’s bourse operator said on June 23. KRX will hire an external agency to examine its current commission rate and standards on the imposition of fees and compare it with other major stock exchanges worldwide.The decision comes as the country’s stock market faces an industrial transition as the exchange seeks to transform itself as a holding firm and financial authority pushes to adopt alternative trading system
June 23, 2016
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Former SPC Group executive loses lawsuit against firm
[THE INVESTOR] A legal battle between SPC Group -- the operator of South Korea’s largest bakery chain -- and a former executive has ended in favor of the company.Former Paris Croissant chief executive Jung Tae-soo lost the suit when he failed to appeal a lower court ruling in late May, industry sources said on June 23. Former Paris Croissant CEO Jung Tae-sooSPC is the parent company of Paris Croissant, a popular bakery and coffee shop chain. In December 2014, Jung, 61, sued SPC for unjustified d
IndustryJune 23, 2016
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Cosmax inks MOU with US skincare firm
[THE INVESTOR] Cosmetics maker Cosmax has signed an agreement with US-based skincare firm Nerium International to develop new products related to bio-health and cosmetics, a spokesperson for the Korean company said on June 23. Through the newfound partnership, Cosmax hopes to widen its laboratory research of ingredients and development of fresh products. The results of the collaboration will be sold in the US and Korea, and eventually the potential markets of Japan, Hong Kong, and Australia. Co
IndustryJune 23, 2016