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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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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Panel decision put prosecution in dilemma over Dior bag case
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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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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Global drama stars gather for 2024 Seoul International Drama Awards
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Lotte Japan likely to face probe
South Korean prosecutors may seek a joint probe with investigators in Japan to expand its investigation into Lotte’s alleged creation of slush funds and embezzlement, according to reports Thursday quoting officials with the prosecution.Lotte’s subsidiaries in Japan are running relatively smaller businesses than the group’s operations in Korea. But when looking at its corporate governance structure, most of Lotte’s affiliates in Korea are being controlled by Tokyo-based Lotte Holdings, raising su
IndustryJune 16, 2016
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Difficulties to continue for major Korean industries: FKI
[THE INVESTOR] Most of Korea’s key industries will continue to face difficulties in the second half of the year, the largest business group in Korea said on June 16. In a seminar organized by the Federation of Korean Industries, participants projected that the conditions are unlikely to improve significantly in the second half with the exception of construction and petrochemical industries. The Federation of Korean Industries.According to FKI’s projections, the shipbuilding industry -- hit hard
June 16, 2016
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Will Hyundai tap into diesel cars?
[THE INVESTOR] Amid growing speculation that Hyundai Motor will add a diesel vehicle to its luxury brand Genesis lineup, a company official said on June 16 that nothing has been confirmed. Genesis -- which became a standalone brand last November – unveiled its G80 at the latest Busan International Motor show on June 2. After the show, local media reported that the diesel version of G80 will be released next year, in a move seen to aim to beat out European luxury carmakers here and abroad. G80. (
MobilityJune 16, 2016
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Samsung Group Lee Jae-yong sued over alleged malpractice
[THE INVESTOR] The top management of Samsung C&T, Samsung Group vice chairman Lee Jae-yong and the National Pension Service have been sued by an alliance of civic groups on charges of malpractice and stock price manipulation during the merger of then Cheil Industries and Samsung C&T in 2015.People’s Solidarity for Participatory Democracy, one of the civic groups participating in the lawsuit, claimed that the merger between Cheil Industries and Samsung C&T in July 2015 was made to benefit the Sam
June 16, 2016
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Lotte Confectionery to enter Africa’s snack market
South Korea’s leading snack maker Lotte Confectionery on Thursday said it will start operations in Africa from next week, becoming the first homegrown food company to enter the 12 trillion won ($10.2 billion) African market. Lotte Confectionery has set up its first office in Nairobi, Kenya and will officially begin operations starting from next Monday. The new office was established by Lotte India Corp., the company said.“Lotte Confectionery’s newly formed Kenya office marks a milestone in setti
IndustryJune 16, 2016
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[ANALYST REPORT] Samsung Electronics: 2Q16 preview
We now expect Samsung Electronics (SEC) to post operating profit of KRW7.65tn (+15% QoQ) for 2Q16, driven mainly by strong sales of Galaxy S7 smartphones. SEC has recently been establishing clear leadership over rivals in technological advancement, backed by bold, preemptive investments. We thus maintain our BUY rating for SEC and raise our target price to KRW1,650,000.2Q16 previewFor 2Q16, we expect SEC to report sales of KRW50.03tn (+0.5% QoQ), operating profit of KRW7.65tn (+15% QoQ), and net
TechnologyJune 16, 2016
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[News Analysis] Uncertainty persists over Fed’s rate move
Weak employment and low inflation led the U.S. Federal Open Market Committee to freeze its federal fund rate at 0.25 to 0.50 percent, extending the possibility and uncertainty over a rate rise, analysts say.The U.S. FOMC said that it will maintain its benchmark interest rate, but remains “accommodative,” indicating that it will adjust its monetary policy in accordance with conditions in the labor market and consumer prices. Korean stocks fell to nearly a one-month low on Thursday as the U.S. Fed
June 16, 2016
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PM says Cabinet reshuffle not urgent issue
Prime Minister Hwang Kyo-ahn said Thursday the government is not considering an immediate Cabinet reshuffle, adding it will instead focus on finding solutions to pressing issues that need to be tackled."Now is the time to work harder," Hwang said during a press conference, hinting the government will put more priority on other core issues. The meeting with reporters comes as Hwang marks his first year in office on Saturday.Last week, President Park Geun-hye conducted a small-scale reshuffle of h
PoliticsJune 16, 2016
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Ilbe members charged for identifying wrong woman as rape victim
Members of an extreme right online community were charged for defamation after a failed attempt to reveal the identity of the victim of an island rape case recently in the news, Seoul police said Thursday. Five men from the infamous website had wrongly identified a different teacher from the same school as the victim, and circulated her photo as acquired from the school’s website. (Yonhap)The teacher has since resigned from the school, citing severe psychological distress from the false identifi
Social AffairsJune 16, 2016
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[EXCLUSIVE] Lotte drops DFA bid amid widening probe
[THE INVESTOR] Lotte Group has given up its plans to acquire Duty Free Americas Inc., the largest duty-free operator in the U.S., amid the widening probe that had earlier forced the South Korean retail giant to withdraw plans to list its hotel unit, The Korea Herald found Thursday.“The group has effectively given up on the potential acquisition of a U.S. duty-free operator worth 1.7 trillion won ($1.5 billion), now that the initial public offering of its hotel unit has been indefinitely delayed
June 16, 2016
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Chinese art trading scheme enters Korea
Artworks are usually purchased primarily for aesthetic reasons and are mostly privately owned, but a relatively new Chinese model of art investment allows multiple buyers to share an artwork. The Chinese model of artwork stock exchange, which invites investors to buy and sell shares of artworks, has landed in Korea, with the China National Culture and Art Co., LTD, a holding company under the China’s Culture Ministry, opening the Korea Culture and Artworks Exchange on Wednesday. This marks the
CultureJune 16, 2016
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Johnson, Hart say they really were having that much fun
NEW YORK (AP) -- On their first day shooting “Central Intelligence,” their new spy-themed action comedy, Dwayne Johnson and Kevin Hart were given an extremely difficult scene.Difficult, meaning it was impossible not to break up laughing and ruin the shot. They were playing doctor and patient in a therapist’s office, and they were staring at each other, real close, trying not to blink or speak. For Hart especially, this was very hard to do.“Kevin could just not keep a straight face,” says directo
FilmJune 16, 2016
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Hyundai Glovis pressured to use U.S.- registered vessels
The U.S. government has repeatedly called on Korean logistics company Hyundai Glovis to use ships registered in the U.S. when the company exports cars to the U.S., according to Seoul officials and company sources Thursday. The Washington government’s continued push is seen by industry watchers as trade pressure on Korea in its attempt to offset trade deficits widening after the bilateral free trade agreement that took effect in 2012. (Bloomberg)U.S. government officials including Maritime Admini
IndustryJune 16, 2016
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Park Tae-hwan resumes arbitration proceedings against Olympic ban
Former Olympic swimming champion Park Tae-hwan has resumed his arbitration proceedings against an Olympic ban at the world's top sports tribunal, officials said Thursday.Team GMP, the Seoul-based agency for the Olympic gold medalist, made the announcement during a press conference in Seoul. It was scheduled after the Korean Olympic Committee decided at its board meeting that it wouldn't lift its Olympic ban on Park, reaffirming its long-held stance. (Yonhap)The KOC bans athletes who've served do
Olympic GamesJune 16, 2016
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Music festival in the mountains
The 2016 PyeongChang Music Festival and School, formerly Great Mountains Music Festival and School, will present a refreshing moment to enjoy beautiful harmony in the mountains of Gangwon Province. Cellist Chung Myung-wha and violinist Chung Kyung-wha, artistic directors of the festival, pianist Son Yeol-eum, who was recently appointed as assistant artistic director, and chairman of the Gangwon Art and Culture Foundation Kim Sung-hwan introduced the program and vision of PMFS at the press confer
PerformanceJune 16, 2016
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20 public firms clinch top grades in gov’t grading
20 public firms clinch top grades in gov’t grading[THE INVESTOR] Twenty public companies and state-run agencies were recognized for their efforts to revamp balance sheets in the government-led annual management assessment, the Finance Ministry said on June 16.Of the 116 institutions evaluated by the test’s criteria, the number of A-grade institutions increased from 15 selected a year earlier, followed by 53 B-grade companies and 30 C-grade, the ministry said.The 20 leading companies included the
June 16, 2016