Most Popular
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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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College is expensive? In S. Korea, English preschools cost much more
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[Hello India] Hyundai Motor inches closer to IPO in India
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[Exclusive] Texas development exec shuts down layoff rumors at Samsung chip plant
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Panel decision put prosecution in dilemma over Dior bag case
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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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'Gyeongseong Creature Season 2': faster and ready to confront past
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2025 Trend Forecast: Small details, new happiness trend amid sluggish economy
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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Global drama stars gather for 2024 Seoul International Drama Awards
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Operator to remove billboards from subway platforms
Seoul Metropolitan Rapid Transit, the operator of subway lines No. 5 to 8, said Friday that it will remove billboards from subway platforms in response to claims that they hamper emergency exits for passengers during safety accidents.Of the 3,180 billboards at some 145 stations on subway lines No. 5-8, a total of 1,093 or 34 percent will be removed by the end of August, according to the operator. Instead, some 6,200 emergency exits will be installed by 2020.Billboards, which expose advertising c
Social AffairsJune 17, 2016
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[ANALYST REPORT] LG Electronics: MC division to again disappoint
Rather than a demand rebound, LG Electronics (LGE) earnings are to continue being buoyed by its competitiveness in the home entertainment and home appliances markets (absence of rivals strong enough to supplant its positions in these markets). However, we expect earnings at its MC division to remain weak.2Q16 preview: MC division to book disappointing earnings We expect LGE to register 2Q16 sales of W14.4tn (up 3% y-y, up 8% q-q) and operating profit of W608.0bn (up 149% y-y, up 20% q-q) on weak
June 17, 2016
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[ANALYST REPORT] The global robot revolution is here, and growing
The past month has seen a spate of robotics M&A activity around the world. China tipped its hand to its RIoT ambitions with a USD5bn offer for Germany’s Kuka, one of the world’s leading robotics companies. Kuka has traditionally been a strong player in the industrial robot space but recently has been aggressively moving into the service robotics domain due to the expected massive growth of the segment.Toyota is also reported to be in talks with Google to acquire Boston Dynamics and Schaft—the wo
June 17, 2016
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Recovery of sunken Sewol ferry postponed
The recovery of the sunken Sewol ferry has been delayed until August due to unexpected damage caused during the lifting operation which began this week.But considering the heavy rain and typhoons that are common in late summer and early fall, observers noted, the timeline may further be delayed until September.According to the Ministry of Oceans and Fisheries on Thursday, the damage to the ferry‘s bow section has dimmed prospects of the salvage operation by the target date of July.Two out of fiv
Social AffairsJune 17, 2016
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Hanwha Defense eyes global armored vehicle market
Eurosatory defense exposition.[THE INVESTOR] Hanwha Defense Systems announced on June 17 that it has signed a 7.5 million euro (US$ 8.4 million) gun turret supply deal with CMI Defence at the Eurosatory defense exposition. CMI Defence is a Belgium based military equipment maker that specializes in weapons systems for armored vehicles.Under the contract, Hanwha will be supplied with 105 mm gun turret, which will then be used in building light infantry fighting vehicle based on the K21. The K21-ba
June 17, 2016
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Hanwha to issue bonds for 100 billion won
[THE INVESTOR] Hanwha is looking to raise 100 billion won (US$ 85 million) with new corporate bonds that will be issued on July 5. Hanwha had issued bonds worth the same amount in February. The sale will be overseen by Korea Investment and Securities. The company said that the move is in preparation for 150 billion won bonds that mature in October.By Choi He-suk (cheesuk@heraldcorp.com)
June 17, 2016
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Psychiatric test sought for Gangnam murder suspect
Prosecutors on Friday said that they will further look into the mental condition of the murder suspect who stabbed a woman to death near Gangnam Station, to identify whether the crime was driven by hatred toward women or a mental disorder. The Seoul Central District Prosecutors’ Office requested a state-run hospital in Gongju, South Chungcheong Province, to carry out a psychiatric test on the suspect’s state of mind before and after the crime, its officials said. “The hospital will keep experts
Social AffairsJune 17, 2016
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Reasons for divorce have changed since ’50s in South Korea: study
The reasons for divorce in South Korea have varied significantly each decade since the 1950s, changing from spouses that have gone missing to basic unhappiness, a study by the Korea Legal Aid Center for Family Relation showed Friday.The study, which analyzed a total of 1,469,900 pre-divorce counselling cases from 1956-2015, found that historical events and the social climate of each decade, such as the Vietnam War and the 1997 Asian Financial Crisis, influenced couples’ decisions to part ways. F
Social AffairsJune 17, 2016
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Korean builders seek new owner after court receivership
[THE INVESTOR] A handful of Korean companies, which have put under court-led restructuring programs, are seeking out new buyers, sources said on June 17. Financially troubled firms, mainly builders, are putting themselves on the mergers and acquisitions market after the Seoul Central District Court helps them to clean up their balance sheet during the debt workout scheme. “The local M&A market is expected to be packed by firms that underwent court-led revamp as more companies rely on the court a
June 17, 2016
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Saenuri feuding restarts
The ruling conservative Saenuri Party’s decision to reinstate controversial defectors has rekindled the factional divide between the pro-presidential leadership and the reformers’ group.At the heart of the dispute was Rep. Yoo Seong-min, Daegu’s fourth-termer and the party’s former floor leader, known for his deep rift with President Park Geun-hye. Whether or not he would make it back to the party has been considered a yardstick of Saenuri’s willingness to overcome the chronic strife between the
PoliticsJune 17, 2016
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[David Ignatius] Obama‘s year of resilience
A year ago this month, President Obama was delivering a eulogy in Charleston, South Carolina, after the mass shooting in a church there. As he neared the end, he took a long pause and then began singing “Amazing Grace.” It was an unforgettable, transcendent moment. Michelle Obama had reportedly cautioned him against singing, but Obama told her on the trip to Charleston that he might do it anyway. Until he began, even he probably wasn’t sure. Peter Manseau wrote in The Atlantic magazine about the
ViewpointsJune 17, 2016
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[Editorial] Border islands
The number of fishing boats and patrol boats from North Korea has recently surged around the Northern Limit Line. The situation has coincided with the South Korean Navy’s three-day maritime exercise in the West Sea this week. Tension is naturally increasing as the two Koreas fought several bloody battles along the NLL across the West Sea over the past decade. Further, the timing is quite uneasy as both of the battles around the South’s Yeonpyeongdo Island in 1999 and 2002 occurred in June. The N
EditorialJune 17, 2016
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[Editorial] Rate hike delay
The global economy has faced another extension of uncertainty as the U.S. Federal Reserve again chose to delay its base rate hike. Early this year, expectations of a hike during the first half were dominant in the market. The most likely timing for a hike was June, according to earlier bets of global investment banks. And the global market was fully bracing for temporary shocks from a U.S. rate hike, alongside hopes for a fast rebound, as the scenario was sufficiently reflected in the market. Th
EditorialJune 17, 2016
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[Clive Crook] How Europe pushed Britain toward door
So Britain might actually do it. With a week to go before the referendum on June 23, recent polls say the campaign to quit the European Union is ahead. The government and its allies in the Remain campaign are alarmed. Why is this happening? The excellence of the Leave campaign certainly isn’t the reason. Advocates of Brexit made a weak case, unable to say what leaving the EU would mean for the country’s future trade arrangements or which parts of EU law would be re-adopted and which discarded. I
ViewpointsJune 17, 2016
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[Weekender] Bank deposits offer poor returns
Following the Bank of Korea’s surprise cut in base interest rate last week, local banks have each been slashing their own rates on deposit and saving accounts. Citibank Korea’s easy-access deposit account for corporate clients has fallen to the negative return territory after the bank slashed its annual interest rate to 0.001 percent from 0.1 percent on Tuesday. This means that a deposit of 10 million won ($8527) earns 1,000 won a year in interest or 846 won after tax. Given that inflation has r
June 17, 2016
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[Weekender] Record low interest rates fuel property market
When visiting a real estate agency last Saturday, Choi Ho-rim, 40, was surprised to find that there were no apartments at the size of 25 pyeong on sale in Seocho Hills, a complex of 1,082 homes in Umyeon-dong, Southern Seoul. One pyeong is equivalent to about 3.3 square meters and it is a unit used to measure the size of rooms and buildings in Korea.“Things were quite different a few month ago. There were dozens of this size of apartments on sale,” she said. Visitors listen to the explanation of
IndustryJune 17, 2016