Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Yoon set for talks with Marcos in Philippines
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Korean bands get their day in the sun, finally
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Firefighters’ 3,000 won meals spark nutrition concerns
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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Injured captain Son Heung-min dropped from nat'l team for World Cup qualifiers
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Korean conglomerates dominate theaters in Vietnam
[THE INVESTOR] Entertainment units of South Korean conglomerates are wielding substantial power in the Vietnamese movie industry, dominating the theater and distribution with a two-third market share.CJ Group’s CGV owns 34 cinemas with 223 screens as of July 26, making it the top movie theater chain in the Southeast Asian country. Its revenue in the first half of this year jumped 35 percent to 50.4 billion won (US$44.44 million) with 7.8 billion won operating profit, a 44 percent increase on-yea
July 27, 2016
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Shinsegae offers free Wi-Fi for Myeong-dong shoppers
Korean retail group Shinsegae is offering free wireless internet service to shoppers in the Myeong-dong area starting Thursday, the company said Wednesday.The service is intended to appeal to Chinese shoppers, who tend to rely on wireless internet in Korea rather than data roaming services. According to a survey from the Korea Tourism Organization, more than three-fourths of surveyed Chinese tourists said that they wanted free Wi-Fi access near major shopping districts.The welcoming page on Shin
July 27, 2016
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Samsung C&T returns to black with Q2 net profit of 135 bln won
Samsung C&T Corp., a construction affiliate of Samsung Group, bounced back into the black with a net profit of 134.5 billion won ($118.6 million) for the April-June period, the company said in a statement Wednesday. Samsung C&T posted a net loss of 516.6 billion won in the first-quarter of this year, hit by one-off costs derived from its overseas construction projects. At the operating level, the company also posted a profit of 176.8 billion won for the second quarter, compared with a loss of 43
July 27, 2016
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Operating-margin gap between Samsung, Apple falls to record low
The gap in operating margins of Samsung Electronics Co. and that of Apple Inc., the world's two largest makers of smartphones, fell to a record low as sales of Apple's iPhone slumped, according to the two companies' financial statements on Wednesday. Apple posted an operating profit of $10.1 billion and sales of $42.4 billion in the quarter ending June 25. Apple's operating margin declined 3.85 percentage points on quarter to 23.82 percent. In its earning guidance for the April-June period, Sams
July 27, 2016
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Hyundai E&C Q2 profit up 5.5% on overseas projects
[THE INVESTOR] Hyundai E&C, the engineering and construction unit of Hyundai Motor Group, on July 27 said that its second-quarter operating profit increased 5.5 percent to 268.4 billion won (US$236.80 million) from a year ago, thanks to large orders from the Middle East. But revenue was down 2.7 percent to 4.6 trillion won during the April-June period. A nuclear power plant being built by Hyundai E&C in the United Arab EmiratesFor the whole year, the company’s operating profit soared 4.5 percent
July 27, 2016
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Korea Kolmar to supply generic CNS treatment to Abbott
[THE INVESTOR] Korea Kolmar has signed an agreement with Abbott Korea for the exclusive supply of drugs, it announced on July 27. It will be a contract manufacturing organization for two treatments for central nerve system disorder, including Aerica capsule that contains the active substance pregabalin. Kolmar Korea’s own lab developed the pharmaceutical preparation and it has been approved to manufacture the drug.The domestic market for pregabalin, known to be effective for reducing central neu
July 27, 2016
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Hyundai BNG Steel CEO facing indictment for chauffeur abuse
[THE INVESTOR] Hyundai BNG Steel CEO Chung Il-sun’s assault case has been transferred to the prosecution, with recommendations to indict him for violating the Labor Standards Act, the Ministry of Employment and Labor said July 27.Chung, who is a grandson of Hyundai Group founder Chung Ju-young, is alleged to have assaulted his chauffeur, and hired a total of 61 chauffers over the course of three years. Hyundai BNG Steel CEO Chung Il-sunHe is also accused of forcing his drivers to work more tha
July 27, 2016
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Rosy picture for LG Household's Q3 earnings: analysts
[THE INVESTOR] LG Household & Health Care more than met the expectations for its second-quarter earnings and will perform even better in the future, analysts said. Its April-June operating profit hiked 34.1 percent to 225.4 billion won (US$198.78 million) and earnings came in at 1.55 trillion won, rising 18.5 percent from the same period last year, according to Financial Supervisory Service’s data released on July 27.The Q2 figures are the highest ever for the company that also broke record for
July 27, 2016
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Korea to carry out feasibility study on port project in Egypt
South Korea will conduct a feasibility study on redeveloping the historic port city of Alexandria in Egypt, the maritime affairs ministry here said Wednesday.The research will be into the technical feasibility of the development of the Egyptian seaport, along with detailed plans to raise funds, according to the Ministry of Oceans and Fisheries.Alexandria, on the Nile Delta, is one of the oldest seaports in world history, linking trade between the Mediterranean Sea and the Red Sea. Currently, the
July 27, 2016
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Industrial power consumption growth hits 2-year high in Q2
South Korea's industrial electricity sales in the second quarter grew at the fastest pace in nearly two years on the back of a recovery in the chipmaking and oil refinery sectors, the government said Wednesday.The amount of electricity consumed by the country's industrial sector reached 69.55 billion kilowatt-hours in the April-June period, up 1.6 percent from the same period last year, according to the Ministry of Trade, Industry and Energy.The on-year growth in the second quarter marked the la
July 27, 2016
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Hanjin Shipping pressed to raise more money to tide over cash shortage
Cash-strapped Hanjin Shipping Co. has come under growing pressure from its creditors to secure more money to tide over a deepening cash shortage, industry sources said Wednesday.According to the sources, Hanjin Shipping, the country's No.1 shipping line, has proposed raising some 400 billion won ($353 million) via stocks sales to its affiliates, but creditors want the shipping firm to jack up the figure to some 700 billion won.Hanjin Shipping needs some 1.2 trillion won over the next 18 months t
July 27, 2016
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Samsung BioLogics to make IPO debut in November
[THE INVESTOR] Samsung BioLogics, the biosimilar drug producer of Samsung Group, is expected to make its long-awaited stock debut on Korea’s main bourse KOSPI in November. According to industry sources on July 27, the company will submit its IPO application on Aug. 2 that will be reviewed by the Korea Exchange for 45 days. Samsung BioLogics plantBioLogics’ stock debut will become this year’s largest IPO in Korea after the much-hyped 5 trillion won (US$4.40 billion) IPO of Hotel Lotte was delayed
July 27, 2016
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Lotte Fine Chemical seeks new owner for solar power components maker
[THE INVESTOR] Lotte Fine Chemical will begin the process of selling the solar power generation materials maker SPM, finance industry sources said July 27.They noted that Deloitte Anjin will announce the sale during the week and begin seeking a buyer. Lotte Fine Chemical holds 15 percent of SPM, which was founded as a joint venture between US’s SunEdison and Samsung Fine Chemical. Lotte Fine Chemical was established by Lotte Group by acquiring Samsung Fine Chemical. By Choi He-suk (cheesuk@heral
July 27, 2016
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LG Household & Health Care posts record performance in H1
[THE INVESTOR] Boosted by the leaping turnover of its higher-end cosmetics lines The History of Whoo and su:m 37 in Korea and overseas, LG Household and Health Care has reported a record high performance both for the second quarter and the first half of the year. Its second-quarter operating profit jumped 34.1 percent to 225.4 billion won (US$220 million) and revenue came in at 1.55 trillion won, rising 18.5 percent from the same period last year, the company announced on July 26. LG Household a
July 27, 2016
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Korea's int'l air passenger traffic jumps 48% in June
International air passengers to and from South Korea jumped nearly 48 percent on-year in June, marking a strong recovery from a large dip caused by the outbreak of the deadly Middle East Respiratory Syndrome a year earlier, government data showed Wednesday.International air passengers to and from the country came to 5,968,161 last month, up 47.9 percent from the same month last year, according to the Ministry of Land, Infrastructure and Transport.Overall air passenger traffic jumped 44.5 percent
July 27, 2016
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Samsung's rated "A+" by S&P
Global rating agency Standard & Poor's Ratings Service said Tuesday that its has decided to maintain its "A+" rating on Samsung Electronics Co., the world's largest smartphone maker, citing its stable market presence. The rating agency also offered a "stable" rating outlook on Samsung. "Although competition is heating up in the smartphone, display panel and home appliance sectors due to Chinese rivals' growth, Samsung's diversified business portfolio and the competitiveness of its premium produc
July 26, 2016
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Hyundai Heavy’s revival plans will put it in the clear: Samil PwC
[THE INVESTOR] Hyundai Heavy Industries will be in the clear should its restructuring measures be executed according to plans, Samil PwC concluded on July 26. Samil PwC has been reviewing Hyundai Heavy’s plans on the request of the shipbuilder’s major creditors including the Export-Import Bank of Korea since May 23. Hit by difficulties, Hyundai Heavy drew up restructuring plans that would cut costs and streamline its businesses. Under the plans, the company will lower its debt by about 2 trillio
July 26, 2016
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LG Household & Health Care posts record Q2 profits
LG Household & Health Care on Tuesday said it delivered its highest second-quarter earnings to date this year, buoyed by the success of its luxury cosmetics brands Whoo and Su:m37. Its net sales during the April-June period of 2016 surged 18.5 percent on-year to 1.6 trillion won ($1.46 billion) while its operating profit rose 34.1 percent on-year to 225 billion won.The sales hike was led mainly by LG H&H’s cosmetics business, which saw its sales increase 33.1 percent on-year to 820 billion won
July 26, 2016
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Shinhan Bank offers flexible working arrangements for employees
Shinhan Bank, the flagship unit of South Korea's Shinhan Financial Group Co., said Tuesday that it has introduced flexible working arrangements for its employees, a move that could help them juggle work and family life.The bank said all employees -- who can work without accessing the bank's computer network -- are eligible to work at home.It said those who work in such sectors as planning ideas and developing products and designs can work in their homes.The bank said employees can work at their
July 26, 2016
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Lotte Group founder's daughter indicted over string of corruption
The head of the Lotte Foundation and daughter of the Lotte Group's founder was indicted on a string of charges, including embezzlement and bribery, on Tuesday.The indictment marks the first time that a member of the family that runs South Korea's fifth-largest conglomerate will stand trial.The Seoul Central District Prosecutors' Office said Shin Young-ja, 73, is suspected of pocketing a total of some 3.53 billion won ($3.1 million) of kickbacks from various companies, including local cosmetics b
July 26, 2016