Most Popular
-
1
Military aircraft evacuating S. Koreans in Lebanon returns home
-
2
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
3
Yoon set for talks with Marcos in Philippines
-
4
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
5
Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
-
6
2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
-
7
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
8
Firefighters’ 3,000 won meals spark nutrition concerns
-
9
Can Jennie break the K-pop solo artist slump?
-
10
From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
-
Samsung Heavy pushes for speedy capital increase
(Yonhap)Embattled Samsung Heavy Industries Co. said Tuesday it will push for a capital increase as soon as its shareholders raise the upper limit of stock for sale in August, which is part of its 1.5 trillion won ($1.28 billion) restructuring plan. Samsung Heavy, a unit of Korea's top conglomerate Samsung Group, unveiled the self-rescue program earlier this month, including stock sales and job cuts, as it grappled with falling freight rates amid slackened global demand and tougher competition."W
June 28, 2016
-
Samsung Electronics’ Q1 operating profit to exceed W8tr: report
[THE INVESTOR] Tech giant Samsung Electronics’ operating profit is forecast to exceed 8 trillion won ($6.8 billion) in the second quarter of this year, surpassing previous market estimates. “The second-quarter revenue and operating profit will come in at 51.3 trillion won and 8 trillion won, respectively, beating market estimates,” said Lee Jae-yoon, an analyst from Yuanta Securities, adding that the firm’s IT and mobile communications business unit and consumer electronics business unit would s
June 28, 2016
-
Minimum wage agreement in deadlock
[THE INVESTOR] A June 28 deadline for deciding next year’s minimum wage is unlikely to be met as labor groups and business representatives have failed to reach a consensus. The Minimum Wage Council -- consisting of business and labor representatives and government officials -- has held plenary sessions for three months since March 30 to set next year’s minimum wage. However, the parties were unable to narrow down their differences even at their last session on June 27, local news reported. Labor
June 28, 2016
-
Asiana Airlines under fire for flying repaired jet
[THE INVESTOR] Asiana Airlines is under fire for allowing passengers to board a repaired jet that had caught fire earlier, local news reported on Tuesday. The Asiana Airlines flight OZ222 from John F. Kennedy International Airport in New York City to Seoul was preparing for takeoff in two hours when it caught fire at 11:30 a.m. on June 24 (local time). The air carrier immediately called the fire station to extinguish the flames. It investigated the cause and repaired the aircraft with officials
June 28, 2016
-
Dongbu Daewoo Electronics to display K-pop contents on TVs for sale
[THE INVESTOR] Dongbu Daewoo Electronics will collaborate with Korean entertainment companies to boost its TV sales overseas, the company said on June 28. Joining hands with entertainment firms including DSP Media, home to girl groups Rainbow and April, the Seoul-based electronics firm will showcase K-pop music videos on its TVs in global markets, including Central and South America, Southeast Asia and Europe. “Dongbu Daewoo Electronics’ TVs displaying K-pop content will help create a favorable
June 28, 2016
-
Hanjin Shipping to return 38 ships by 2017
[THE INVESTOR] Ailing Hanjin Shipping has decided to return a total of 38 chartered ships to owners by 2017 as a part of its cost-cutting efforts.The company, which was put under a creditor-led restructuring program, will return 18 chartered bulk carriers and 20 container vessels which have been a major drag on its balance sheet. “We hope to save significant costs from the return. We will put our utmost efforts to stabilize the financial health at the earliest,” an official at the firm said. Of
June 28, 2016
-
Asiana Airlines under fire for flying repaired jet
[THE INVESTOR] Asiana Airlines is under fire for allowing passengers to board a repaired jet that caught on fire earlier, local news reported on June 28. Asiana Airlines flight OZ222 from JFK Airport in New York City to Seoul was getting ready to take-off in two hours when its engine caught on fire at 11:30 a.m. on June 24 (local time). The air carrier immediately called the fire station to extinguish the flames. It investigated the cause and repaired the craft with officials of Airbus, the manu
June 28, 2016
-
Kumho Asiana chief awarded Legion of Honor
Kumho Asiana Group chairman Park Sam-koo was awarded a high-level decoration from the French government Monday for his contributions to bilateral exchanges between Korea and France, and to the aviation industry in both countries.Park received the Legion of Honor (Legion d’honneur) from French Ambassador to Korea Fabien Penone at Penone’s residence in Seodaemun-gu, central Seoul. Kumho Asiana Group chairman Park Sam-koo (right) receives the Legion of Honor from French Ambassador to Korea Fabien
June 28, 2016
-
[H2 ECONOMIC POLICY] Gov’t offers tax-breaks for middling firms returning home
[THE INVESTOR] Middling companies that replace overseas production facilities with those based in Korea will be given a three-year exemption from corporate and income taxes, the Ministry of Strategy and Finance announced on June 27. In addition, the two taxes will be cut by half for additional two years after the initial exemption period. Any foreign worker from concerned companies’ overseas facilities hired to work in Korea will be provided with the E-7 visa, the ministry said. Middling compani
June 28, 2016
-
Dayou Winia eyes Chinese electric cooker market
[THE INVESTOR ] Dayou Winia, a Korean electronics firm, has joined hands with Haier, one of China’s leading electronics makers, to jump into the Chinese market,The Korean firm, well known for its electric rice cooker and kimchi refrigerator brand Dimchae, said it has signed a memorandum of understanding with the Qingdao-headquartered electronics firm for a partnership to sell its electronic cookers in China. Executives of Dayou Winia and Haier participate in an event to sign a sales partnership
June 28, 2016
-
Kumho Asiana chief receives prestigious French award
Kumho Asiana Group on Tuesday said its Chairman Park Sam-koo has won a prestigious French award for his contribution to expanding exchanges between the two countries and boosting the two country's aviation industries.Park was given the Order of the Legion of Honor (La Legion d'honneur) by French Ambassador to South Korea Fabien Penone at Penone's residence Monday. (Kumho Asiana Group)The award was conferred in recognition that Park facilitated exchanges between South Korea and France as Asiana A
June 28, 2016
-
Prosecution takes Ex-DSME chief into custody
[THE INVESTOR] Former Daewoo Shipbuilding and Marine Engineering CEO Nam Sang-tae was taken into custody in the early hours of June 28.The prosecution is said to have gained evidence of additional wrongdoing on part of Nam during questioning on June 27.Former Daewoo Shipbuilding & Marine Engineering CEO Nam Sang-tae. Park Hyun-koo/The InvestorBefore he was taken into custody, Nam had been summoned for questioning over allegations of corruption.“In light of the circumstances and suspected crimina
June 28, 2016
-
[Graphic News] Korean firms face growing labor costs, declining productivity
Revenue and operating profit generated per worker at the top 30 listed companies here have been falling in the past five years, but pay on average has been growing in the same period, a study showed Monday.According to the Federation of Korean Industries, sales produced per employee dropped 2.7 percent on average from 1.07 billion won ($902,800) in 2011 to 968.6 million won in 2015. Operating profit per employee also declined 7.1 percent on average from 71.32 million won to 53.17 million won. Th
June 27, 2016
-
Profitability fell, but labor costs rose at top 30 industrial groups
[THE INVESTOR] Over the past five years, the listed affiliates of South Korea’s top 30 industrial groups saw their profitability decline, while their labor costs increased.The Federation of Korean Industries on June 27 said that between 2011 and 2015, sales per employee at the affiliates fell an annual 2.7 percent to 968 million won (US$ 822,996) from 1.07 billion won. Operating profit per employee also fell an annual 7.1 percent to 53.17 million won from 71.32 million won.At the same time, labo
June 27, 2016
-
Samsung Heavy eyes key shareholder meeting in Aug.
Samsung Heavy Industries Co. said Monday it will hold a special shareholders' meeting in August to clear the way for a capital increase aimed at helping the troubled shipyard stay afloat.Samsung Heavy said its board of directors decided to convene the meeting on Aug. 19 to approve a proposal to increase the maximum number of shares it is legally permitted to issue, a precondition for the crucial capital raise. Under its articles of incorporation, Samsung Heavy is currently allowed to float up to
June 27, 2016
-
'Unique shareholding structure may have fueled Lotte feud’
The unique shareholding structure of Lotte Holdings, the Tokyo-based firm that controls Lotte’s operations in Korea and Japan, may have been designed by Lotte Group founder Shin Kyuk-ho with the intention of bequeathing the retail giant to the son who gained more support from employees and executives of the company, Lotte officials in Seoul suggested Monday.Family firm Kojunsha holds approximately one-third of stakes in Lotte Holdings, while the two separate groups of employees and executives of
June 27, 2016
-
KHNP to invest W1tr in green business
[THE INVESTOR] Korea Hydro & Nuclear Power seek to transform itself into an eco-friendly energy company by investing more in solar, wind and biomass energies, the firm said on June 27. The state-run KHNP, which provides some 40 percent of Korean power supply, announced its road map for new energy business, focusing on investing 1 trillion won (US$848 million) on 10 green projects over the next five years. The projects are related to fuel cell, electric vehicle charging and thermal effluent busin
June 27, 2016
-
Samsung to roll out reform measures next month
Korea's top conglomerate Samsung Group, which celebrates the 23rd anniversary of the Frankfurt Declaration this year, said Monday that it will announce a set of reform measures next month to break away from its traditional top-down management.In 1993, Samsung Electronics Chairman Lee Kun-hee made the landmark declaration to spearhead the new management strategy, calling on his employees to "change everything but your wife and kids," during a gathering with senior officials in Frankfurt, Germany.
June 27, 2016
-
Prosecution to summon Lotte founder’s daughter
Prosecutors will summon Shin Young-ja, the eldest daughter of Lotte founder Shin Kyuk-ho soon to question her over allegations that she received kickbacks in exchange for a business favor to a local cosmetics company.Investigators at Seoul Central Prosecutors‘ Office said Monday that they had secured testimonies to prove that she ordered Lotte officials to offer floor space for Nature Republic at the retail giant’s duty-free stores. (Yonhap)She also ordered them to give the cosmetics company a p
June 27, 2016
-
Ex-DSME chief quizzed by prosecution
Prosecutors on Monday called in the former CEO of Daewoo Shipbuilding & Marine Engineering as part of its expanding probe into allegations that he speculated with trillions of won through accounting fraud. The Seoul Supreme Prosecutors’ Office said it summoned ex-CEO Nam Sang-tae on charges of breach of trust while the 66-year-old was serving the post from 2006 to 2012. Former DSME chief Nam Sang-tae answers questions from reporters before being summoned to the Seoul Supreme Prosecutors’ Office
June 27, 2016