Most Popular
-
1
NewJeans has few options after Ador rejects group's request to reinstate Min Hee-jin as CEO
-
2
College is expensive? In S. Korea, English preschools cost much more
-
3
[Hello India] Hyundai Motor inches closer to IPO in India
-
4
[Exclusive] Texas development exec shuts down layoff rumors at Samsung chip plant
-
5
Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
-
6
Panel decision put prosecution in dilemma over Dior bag case
-
7
Host of Miss Korea apologizes for 'inappropriate question' about deepfake
-
8
'Gyeongseong Creature Season 2': faster and ready to confront past
-
9
2025 Trend Forecast: Small details, new happiness trend amid sluggish economy
-
10
Global drama stars gather for 2024 Seoul International Drama Awards
-
Will Hyundai tap into diesel cars?
[THE INVESTOR] Even as speculation that Hyundai Motor will add a diesel vehicle to its luxury brand Genesis lineup is growing, a company official said nothing has been confirmed on June 16.Genesis -- which became a standalone brand last November -- unveiled G80 for the first time 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 beat out European luxury carmakers here and abroa
BusinessJune 16, 2016
-
Fed keeps interest rate steady as Brexit vote looms
WASHINGTON (AFP) -- The Federal Reserve held its key interest rate unchanged Wednesday, in part due to concerns about the disruption Britain‘s looming “Brexit” vote could have on global markets.While voicing confidence in continued U.S. economic growth, Fed Chair Janet Yellen said the June 23 referendum on Britain quitting the European Union was an important factor in the Fed keeping monetary policy on hold.“Clearly, this is very important decision for the United Kingdom and for Europe,” she sai
World BusinessJune 16, 2016
-
Firms benefit from Lotte's IPO withdrawal
[THE INVESTOR] Hotel Lotte’s decision to scrap what would have been the nation’s largest-ever initial public offering is benefiting companies that are preparing to list on the local stock exchange in June.As Hotel Lotte’s IPO faces a major setback, firms expect to share the spotlight that had been focused on the Korean retail giant Lotte Group’s hotel unit. Hotel Lotte and Lotte Duty Free Shop.Some companies, which are set to go public on the benchmark KOSPI or secondary KOSDAQ market, are alrea
June 16, 2016
-
Samsung launches $140 Galaxy On5 in US
[THE INVESTOR] Samsung Electronics is making a big push in the US budget smartphone market with its planned launch of the $140 Galaxy On5. According to CNET, the phone will be sold by both T-Mobile and its prepaid brand, MetroPCS. It comes in at $140 outright, or for zero down payment and $5.83 a month for 24 months. Samsung Galaxy On5Key features include a 5-inch display, a 5-megapizel camera with an LED flash on the back, a 2-megapixel camera on the front and a 2,600mAh battery. Previously, th
TechnologyJune 16, 2016
-
Samsung acquires US cloud service start-up Joyent
[THE INVESTOR] Samsung Electronics said on June 16 it has acquired a US-based cloud service provider Joyent in its latest start-up shopping spree. With the acquisition, Samsung aims to strengthen its presence in the soaring cloud market, offering more advanced mobile services in the era of the Internet of Things technology. Detailed terms of the deal were not disclosed. Screen capture of Joyent`s homepage“Samsung evaluated a wide range of potential companies in the public and private cloud infr
TechnologyJune 16, 2016
-
Korean firms lack ability to mobilize cash: report
[THE INVESTOR] The retained earnings of Korea’s top 500 companies fall far behind that of top 25 U.S.-based companies, a new report showed on June 16. Retained earnings refer to assets after dividends are paid out. The funds and other assets included in retained earnings are then used for investment, debt repayment and other management activities. The report compiled by the Korea Economic Research Institute showed that Korea’s top 500 companies by market capitalization had combined retained earn
June 16, 2016
-
Samsung Heavy Industries to nearly halve workforce
[THE INVESTOR] Embattled Samsung Heavy Industries came out with a heavy-duty restructuring plan that involves drastic measures including cutting up to 1500 payrolls by the end of this year.Eventually, the firm plans to reduce the workforce by up to 40 percent over the next three years.Samsung executives also agreed to pay cuts starting in July until the company returns to normal. “As CEO, I will forgo my entire salary until a business turnaround,” said Park Dae-young, head of Samsung Heavy. Park
June 16, 2016
-
Seoul looks to reduce banks’ forex uncertainties
[THE INVESTOR] Seoul is looking to strengthen the ability of local banks to deal with sudden changes in the international market, financial authorities announced after a meeting Thursday. As part of the plans finalized at a meeting among financial regulators, the central bank and the Finance Ministry, local banks will be required to raise their foreign exchange liquidity coverage ratio to 80 percent by 2019. The FX LCR is maintained at a level between the net forex outflow expected over a 30 day
June 16, 2016
-
Korea's online shopping sales surge 16-fold in 15 years
[THE INVESTOR] The online shopping business in Korea has expanded more than 16-fold over the past 15 years due to the rapid development of online transactions, government data showed on June 16.Total online sales reached 53.9 trillion won ($46.1 billion) last year, compared with 3.3 trillion won in 2001, with an average 22 percent on-year growth every year, according to Statistics Korea.Mobile shopping amounted to 24.5 trillion won in 2015, more than tripling from 6.6 trillion won in 2013 when t
June 16, 2016
-
The online shopping sales surge 16-hold in 15 years
[THE INVESTOR] The online shopping business in Korea has expanded more than 16-fold over the past 15 years due to the rapid development of online transactions, government data showed on June 16.Total online sales reached 53.9 trillion won ($46.1 billion) last year, compared with 3.3 trillion won in 2001, with an average 22 percent on-year growth every year, according to Statistics Korea. (123rf)Mobile shopping amounted to 24.5 trillion won in 2015, more than tripling from 6.6 trillion won in 201
BusinessJune 16, 2016
-
Hyundai to recall 62,319 Tucson vehicles
[THE INVESTOR] Top Korean automaker Hyundai Motor plans to recall 62,319 units of its Tucson sport utility vehicle lineup due to a faulty hood lock system, the Transport Ministry said on June 16. The model’s secondary hood latch remains in the wrong position when the hood is closed, as a result of which it may unexpectedly open while driving, the ministry said.The problem has been found in 62,319 Tucson SUVs manufactured between March 15, 2015, and March 15, 2016.Hyundai Motor will take responsi
BusinessJune 16, 2016
-
Hyundai E&C halts Iraqi project over late payment
[THE INVESTOR] A $6.04 billion refinery project being undertaken by a Korean consortium in Iraq has effectively come to a stop due to late payments from the Iraqi government. The Hyundai Engineering and Construction Co.-led consortium began the multibillion-dollar project to construct a refinery in Karbala in April 2015. The consortium also including GS Engineering and Construction Co., SK E&C Co. and Hyundai Engineering Co. Officials from companies engaged in the project pose for a photograph i
June 16, 2016
-
HMC Investment projects large jump in Hyundai Steel performance
[THE INVESTOR] Hyundai Steel Co. is likely to post significant jump in operating profits for the second quarter of the year, HMC Investment Securities projected on June 16.Saying that Hyundai Steel is likely to have gained momentum in the second quarter and that the price increased projected for the second half of the year will further improve performance, HMC maintained the “buy” rating and the target price at 73,000 won ($62).On June 16, Hyundai Steel opened at 47,350 won, up 150 won from mar
June 16, 2016
-
Samsung Display tops global AMOLED sales: IHS
[THE INVESTOR]Samsung Display has topped global sales of small and midsized active mode organic-light emitting diode display in the first quarter, a market research firm said on June 16. The display-making unit of Samsung Electronics dominated with 30.6 percent market share in terms of sales, followed by Japan Display with 17.1 percent and LG Display with 12.9 percent in the first three months of the year, according to the IHS.In terms of shipments, Samsung’s AMOLED displays made up about 14.4 p
TechnologyJune 16, 2016
-
Shinhan Bank pushes for ‘Asian financial belt’
Shinhan Bank, the flagship bank of Korea’s leading banking unit Shinhan Financial Group, is pushing to establish an Asian financial belt by expanding its presence in Southeast Asia. It has been setting up branch locations in countries in the financial belt that connects countries including Japan, China, Vietnam, and India, and recently launched Shinhan Bank Indonesia in Jakarta, Indonesia, on May 16. The bank was renamed from Indonesia Bank Metro Express that was acquired by Shinhan last year. S
June 16, 2016