[Graphic News] Samsung tops global TV market for 14th year

　Samsung Electronics topped the global TV market for the 14th consecutive year in 2019, industry data showed Wednesday, on the back of robust sales of its QLED TVs. 　The South Korean tech giant took up 30.9 percent of the global TV market last year in terms of sales revenue, up 1.9 percentage points from a year earlier, according to data compiled by industry tracker IHS Markit. 　Samsung was followed by its local rival LG Electronics and Japan’s Sony. 　According to data, Samsung wa

IndustryFeb. 26, 2020

30-somethings major apartment buyers in Seoul

Property buyers in their 30s were the biggest players in the apartment market in Seoul in the last two months of last year, according to a report Wednesday. Of the entire 10,491 transactions of apartment units registered in January in the city, those aged 30-39 accounted for 30.4 percent, or 3,188 transactions, according to a report released by the Ministry of Land, Infrastructure and Transportation and the Korea Appraisal Board. Since transactions are reported to district offices within 60

MarketFeb. 26, 2020

Business groups inject fortunes to support virus contagion

South Korea’s biggest conglomerates announced Wednesday plans to inject emergency funds to support ongoing efforts to help contain the spread of the novel coronavirus. Samsung Group said all its affiliates will donate a total of 30 billion won ($246 million) to Korea Disaster Relief Association for securing relief goods such as hand sanitizers, disinfectants, daily necessities and health products. Samsung Electronics and its affiliates held emergency board meetings to approve the expe

IndustryFeb. 26, 2020

Samsung C&T to cancel $250m worth treasury stocks

Samsung C&T said its board approved Wednesday to expand dividend income over the next three years and cancel treasury stocks worth 300 billion won ($250 million), as part of its shareholder-friendly policies. Last year, the firm allocated 2,000 won per share, which amounted to 60 percent of dividend income of related companies, including firms that its holds a stake in -- Samsung Electronics Samsung SDS, Samsung Life Insurance, Samsung Heavy Industries and Samsung Engineering. Over th

IndustryFeb. 26, 2020

Tests for remdesivir, likely cure for new coronavirus, to begin in Korea

Gilead Sciences is in talks with Korean health authorities to begin clinical trials of remdesivir, a drug believed to have the most chance of treating the novel coronavirus. “We are in discussions with Gilead Sciences Korea. It is likely they will submit their application for clinical trials this month,” a Ministry of Food and Drug Safety official told The Korea Herald. “We will review the clinical design in a timely manner once we receive it, and begin targeted large-scale

IndustryFeb. 26, 2020

Posco assists communities around world

South Korea’s leading steelmaker Posco said Wednesday it will continue to assist communities in need around the world as part of its corporate citizenship efforts. Most recently it reached out to the people of Wuhan, the Chinese city that was the epicenter of the new coronavirus outbreak. The company sent 1 billion won ($820,159) worth of supplies for city’s citizens on Jan. 31, including masks and hand sanitizers to help prevent the further spread of COVID-19. Earlier in January

IndustryFeb. 26, 2020

Disinfection requests surge as coronavirus spreads

Disinfection service companies are seeing a threefold spike in fumigation requests as the new coronavirus continues to spread, according to the industry on Wednesday. But with COVID-19 cases increasing in regional communities across the country, the disinfection companies are slogging away to meet the soaring demand. “Before the first confirmed case (of the new coronavirus) came up, we would have around five disinfection jobs a day. But now, we get some 30 orders every day,” Lim

IndustryFeb. 26, 2020

[Monitor] Samsung’s Lees remain top dividend earners in 2019

The father and son at the helm of South Korea’s largest conglomerate, Samsung Group, remained the top two dividend earners in 2019, according to data released by corporate tracker CEOScore on Wednesday. Samsung Electronics Chairman Lee Kun-hee, bedridden since 2014, received 474.8 billion won ($391 million) in dividends last year, a figure that remained almost unchanged from a year earlier. Most of the dividends came from the tech company, in which he holds a 4.18 percent stake. Vice Cha

IndustryFeb. 26, 2020

Seoul stocks slip after brief recovery

South Korean stocks headed south Wednesday -- after a brief rally a day earlier -- as the number of confirmed COVID-19 virus cases here reached over 1,000. The local currency also dipped against the US dollar, closing at 1,216.90 won -- down 6.60 won from the previous session’s close. The benchmark Kospi opened sharply lower at 2,064.07 -- sinking 39.54 points, or 1.88 percent, from the previous session. The weak start continued through the day, but rose slightly to close at 2,076.77. It

MarketFeb. 26, 2020

Downside pressure on Kospi mounts as epidemic fears escalate

The unfettered spread of the new coronavirus in South Korea has sparked jitters both here and abroad, with most market observers noting that the spillover effects will continue through March, weighing down on the domestic stock market. For one, global investment bank JP Morgan, in its latest report, has forecast that the infection will peak at around 10,000 by late March. “According to the JP Morgan insurance team’s epidemiology model, Korea’s COVID-19 infection rate has not

MarketFeb. 26, 2020

KB Financial to launch intraboard ESG committee

KB Financial Group said Wednesday that it plans to set up an intraboard committee focused on environmental, social and corporate governance. The group’s board of directors has decided to officially put the issue up for vote at the upcoming shareholders meeting scheduled for March 20. The committee will handle decisions related to environmental, gender and social issues, the group said. The launch comes after KB Financial Group Chairman Yoon Jong-kyoo vowed to shift to a ESG-centered

MarketFeb. 26, 2020

Posco1%Foundation to back projects for disabled artists, persons of merit

South Korean steelmaker Posco said Wednesday its charity unit, Posco1%Foundation, plans to support disabled artists and persons of merit with new and innovative programs through an open contest. The foundation conducted a monthlong contest in January inviting applications from individuals and institutions for various charity ideas and projects. A total of 271 ideas were submitted, many of which focused on future generations, multiculturalism and disabled, culture and arts, the firm said. Aft

IndustryFeb. 26, 2020

Hyundai Motor Group donates W5b to help fight coronavirus

Hyundai Motor Group has donated 5 billion won ($4.1 million) to Hope Bridge Association of the National Disaster Relief to support medical personnel and offer relief goods amid the quickly escalating COVID-19 outbreak across the country.  The donation was made to especially help people in Daegu and North Gyeongsang Province, the company said.  Hyundai Motor Group and the Hope Bridge Association said the donation will be used to offer products needed for the prevention of epidemics a

MobilityFeb. 26, 2020

Amorepacific to sell Gangnam building for W160b

Cosmetics giant Amorepacific will sell its office building in Nonhyun-dong, within Seoul’s Gangnam district, for 160 billion won ($131.25 million), according to the company’s regulatory filing Wednesday. The company decided to sell the building to secure liquidity and to improve solvency, the report said. The company added that it planned to sell it by April 29 this year. The target price accounts for about 2 percent of the cosmetic firm’s total assets as of end-2018. The

IndustryFeb. 26, 2020

Over 80% of Koreans watch videos online

Eight out of 10, or 81.2 percent, Koreans watch videos online, according to a ICT Ministry report released Wednesday, with about 73.7 percent watching them on a daily basis. The ministry, in its annual survey on internet use patterns, surveyed a total 60,254 people from 25,031 households here between August and September last year. Online video platforms were most frequently used by the younger generation. About 93 percent of the people in their 20s answered that they watch videos online -- t

TechnologyFeb. 26, 2020

Korean firms on edge ahead of shareholders meetings on coronavirus fears

South Korea’s listed companies are on edge ahead of shareholders meetings scheduled for March as the number of COVID-19 cases surges day by day and many shareholders are expected to stay away. Next month, more than 300 listed companies are slated to hold shareholders meetings to handle issues such as the approval of financial statements and the appointment of in-house directors. Tech giant Samsung Electronics has a shareholders meeting scheduled for March 18, Hyundai Motor for March 19,

IndustryFeb. 26, 2020

Netmarble, Marvel to introduce new game at PAX East

Netmarble said Wednesday it plans to introduce a new game title with Marvel at PAX East in the US. Due to the coronavirus scare in South Korea, only Netmarble’s US office employees will attend the game show. The PAX East 2020 is being held at Boston Convention and Exhibition Center in Massachusetts, from Thursday through Sunday. Netmarble’s will showcase its latest game on the last day of the show, in a session called “Marvel Mystery,” in the presence of Shim Cheol-mi

IndustryFeb. 26, 2020

PEF to buy IS Dongseo ceramics operation for W217b

E&F Private Equity has inked a deal to acquire the ceramics operation of concrete-to-construction business group IS Dongseo for 217 billion won ($178 million), according to a filing on Wednesday. The private equity firm, managing 342.2 billion won in assets as of 2019, agreed to buy a 100 percent stake in the operation on May 15. Prior to the transaction, the ceramics business will be split off from IS Dongseo earlier in May, which will be named Inus. The business, dedicated to making an

MarketFeb. 26, 2020

BMW introduces two new gasoline crossovers

BMW Korea has introduced two new gasoline-powered crossovers with revamped features, the New X3 and the New X4. The Korean unit of the German automaker said Wednesday that the New X3 xDrive20i and the New X4 xDrive20i models are equipped with advanced features including a panoramic glass roof and a Driving Assistant Plus function that allows semi-automated driving. The New X3 is the first in the X series to come in a single trim “Luxury Line.” The midsized sport activity vehicle

MobilityFeb. 26, 2020

Baedal Minjok to financially support riders during coronavirus emergency

South Korea’s biggest food delivery service in terms of market share, Baedal Minjok, will provide financial support for its riders if they have to go into self-quarantine for COVID-19, the company announced Wednesday. For delivery riders who have to miss work due to a suspected case of COVID-19, Baedal Minjok will pay the minimum wage of 820,000 won ($673) for two weeks. Normally, the company’s riders work eight hours a day, six days a week. The minimum wage in Korea is 8,590 won

IndustryFeb. 26, 2020