Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Yoon set for talks with Marcos in Philippines
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Firefighters’ 3,000 won meals spark nutrition concerns
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Can Jennie break the K-pop solo artist slump?
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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SK hynix's Q2 operating profit to fall: analyst
[THE INVESTOR] SK hynix’s second quarter operating profit is likely to decrease 20 percent on-year, according to analyst forecasts, with the target market price maintained at 37,000 won (US$32.15). The chipmaker’s revenue will amount to 3.89 trillion won while operating profit will be 4.6 billion won, a rise of 7 percent and decline of 19 percent over the previous year, respectively,” said Do Hyun-woo, analyst at Mirae Asset Securities. He noted that DRAM prices in the second quarter kept decre
June 23, 2016
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Global shipments of OLED panels top 90 mln in Q1: data
The global shipments of organic light-emitting diode panels surpassed 90 million units in the first quarter of the year, with Samsung Display Co., a South Korean panel maker, dominating the fast-growing market, data showed Thursday.According to the data compiled by market researcher IHS, a total of 90.8 million OLED panels were sold in the January-March period, 96.2 percent of which, or 87.35 million, were for smartphones. The smartphone panels mark a 62.8 percent rise from a year earlier, the d
June 23, 2016
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Korean biotech, pharma firms’ license deals top $500m in H1
[THE INVESTOR] Licensing deals struck by South Korean biotech and pharmaceutical firms surpassed the US$500 million mark in the first half of the year, according to industry sources on June 23. A total of six biotech and pharmaceutical firms including industry heavyweight Chong Kun Dang Pharmaceutical clinched a total of seven out-licensing deals with foreign companies in the January-June period, with the value of the six deals estimated at $525 million.The amount, however, was smaller than the
June 23, 2016
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46 of 256 Lotte offshore firms in suspected tax havens
[THE INVESTOR] Almost one out of five Lotte Group companies located overseas are based in suspected tax havens, a report showed on June 23. Lotte Group, headed by Shin Dong-bin, is currently under an expanding investigation on suspicion of widespread corruption. According to a research institute operated by Energy Economy News, 46 of Lotte Group’s 256 offshore companies are located in suspected tax havens. The institute’s analysis showed that Lotte Group has 26 companies in Hong Kong, nine in Si
June 23, 2016
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Korean, Spanish construction firms join hands for expansion
[THE INVESTOR] Korean and Spanish construction companies are working together in efforts to expand trade and gain a foothold in new markets. Korea’s trade promotion agency KOTRA held a forum in Madrid, Spain, with Association of National Field Construction Companies in Spain (SEOPAN) on June 22 (local time). A total of 13 companies participated in the forum, including Korea’s Hyundai Engineering & Construction and Daechang Corporation, and Spain’s Groupo ACS, the world’s leading construction fir
June 23, 2016
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Kolmar Korea to build second Chinese plant
[THE INVESTOR] Kolmar Korea announced on June 22 that it has signed an agreement to build its second plant in Wuxi, Jiangsu Province. The new plant will boost Kolmar Korea’s production capacity in China to 520 million cosmetics products per year. The company currently operates a plant in the Beijing area. According to the agreement, signed with the government of Wuxi New District, Kolmar Korea will invest US$30 million to build a new plant. The new plant will be designed to have an annual produc
June 22, 2016
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Seaspan chairman demands liquidity injection from Hanjin
[THE INVESTOR] The world’s largest container ship operator Seaspan has demanded Hanjin Group chairman Cho Yang-ho to dip into his private coffers to normalize Hanjin Shipping.“Hanjin Shipping without a liquidity injection from controlling shareholder, the Cho family and the Korea Development Bank will have a very challenging road ahead,” Seaspan CEO Gerry Wang told Splash 24/7 in an interview on June 21. “It is a well run company which hit liquidity snags due to market conditions.” Splash 24/7 i
June 22, 2016
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[Graphic News] Lotte most active in M&A
Korea’s retail giant Lotte Group topped the ranking for making mergers and acquisitions deals over the past six years, data showed Tuesday. According to corporate tracker CEO Score, Lotte took over a total of 21 companies through M&A deals from 2010 to 2015. The size of the deals amounted to $6.5 billion, accounting for 20 percent of total M&A deals made by the top 30 conglomerates. Lotte Group chairman Shin Dong-bin has aggressively pushed for the deals since 2004, completing 36 such deals so f
June 22, 2016
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Graphic warnings to appear on all cigarette packs from Dec. 23
Most cigarette packs sold in South Korea will carry graphic health warning labels on them starting on Dec. 23, in a move to promote people's health, the government said Wednesday.The government has recently passed a law to introduce a total of 10 graphic health warnings to be placed on the upper part of both sides of a cigarette packet. The photos are required to cover more than 30 percent of both sides of a packet, according to the Ministry of Health and Welfare. (Ministry of Health and Welfar
June 22, 2016
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[Monitor] Households' share of insurance, pension assets hits record
Korea’s households saw their insurance and pension assets reach a new high in 2015, as they increased such assets to better prepare for old age amid low interest rates, central bank data showed Wednesday.
June 22, 2016
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[DECODED] Probe casts suspicions on decades of Lotte actions
[THE INVESTOR] The probe into Lotte Group has churned up suspicions old and new. The main suspicions surround the Lotte World Tower in southern Seoul. The group had failed to receive government approval for the plans from the early 1990s to the late 2000s due to resistance from the military over safety concerns about Seongnam Airbase, a military installation south of Seoul.During the Lee Myung-bak administration, however, the project was given the green light, with Lotte Group footing the bill t
June 22, 2016
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IP5 bolster cooperation to deal with new technologies
The world’s five biggest intellectual property offices have agreed to increase cooperation in response to the rapid change in the IP environment brought on by new technologies such as artificial intelligence and the Internet of Things.The heads of the “Intellectual Property 5” also reached an accord on their joint efforts to improve the patent application process.The representatives produced those and other agreements at the end of the ninth IP5 Heads Meeting from May 31 to June 2 in Tokyo, Japa
June 22, 2016
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Pantech returns with low-cost smartphone
Korean smartphone maker Pantech on Wednesday unveiled a new model – the first in 20 months -- targeting mid-tier customers with upgraded audio, display and battery-charging features.Named “Sky IM-100,” the new smartphone sports a 5.1-inch display, Qualcomm’s Snapdragon 430 processor and the Google Android 6.0 Marshmallow operating system, the company said. Two promotion supporters show Sky IM-100 at a press conference in Seoul, Wednesday. (Yonhap)The product is the first that the company has rel
June 22, 2016
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LG eyeing STX Namsan Tower
[THE INVESTOR] LG Group is in talks with KORAMCO REITs Management and Trust over purchasing STX Namsan Tower near Seoul Station. According to industry sources, KORAMCO is negotiating the sale of the 23-story building to LG Group. Details about the negotiations remain unknown, but the property is estimated to fetch about 300 billion won (US$260 million) for KORAMCO. KORAMCO had selected Korea Investment Management as the preferred bidder in September, but the deal fell through when the latter fai
June 22, 2016
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Hanjin family draws millions in dividends despite massive losses
[THE INVESTOR] The Cho family of Hanjin Group received about 1.1 billion won ($954,000) in dividends from Hanjin Kal although the company posted 205.2 billion won net loss in 2015.Hanjin Kal is the holdings company of Hanjin Group that counts Korean Air among its subsidiaries. The company posted a large deficit for 2015, but paying out total of 4.01 billion won in dividends was approved at the general shareholders meeting in March.Hanjin Group chairman Cho Yang-ho and his three children, includi
June 22, 2016
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Korean biopharma firms rush into IPO market this year
This year will see the largest number of Korean pharmaceutical companies seeking for stock market debuts to raise fresh funds for global market expansion, according to reports on Wednesday. Amid growing market expectations, Green Cross LabCell and ST Pharm got the green light for new listing on the tech-heavy bourse KOSDAQ on Thursday. The two firms are part of a long list of bio companies starting to trade their new shares in the market.In the first half of 2016, five companies went public and
June 22, 2016
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Korea’s top four conglomerates focusing on China
[THE INVESTOR] South Korea’s top four conglomerates -- Samsung, Hyundai Motor, SK and LG -- were found to be focusing their overseas operations in China. One out of four of their offshore companies were located in China as of March this year, according to a local think tank on Wednesday.In contrast, only 2.1 percent are located in the United Kingdom, which is set to vote on June 23 on whether to stay in the European Union.Samsung affiliates, such as Samsung Electronics, Samsung C&T and Samsung S
June 22, 2016
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[DECODED] Shin Dong-bin’s ‘Global Lotte’ in jeopardy
The year 2016 had been set to become a major turning point for Lotte chairman Shin Dong-bin to build up a “Global Lotte.”From the much-anticipated initial public offering of its hotel unit to a flurry of new mergers and acquisitions to be set in motion, the country’s fifth-largest conglomerate had been on track to fulfill its ambition to expand its business empire beyond its domestic boundaries.Yet, all came tumbling down on June 10. Seoul prosecutors kicked off a record-scale probe into the cou
June 22, 2016
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Korean firms need speedier innovation: KCCI
Many South Korean companies lag behind their Chinese rivals in the speed of innovation, a survey by the business community here showed Wednesday.The Korea Chamber of Commerce and Industry conducted the poll of 300 manufacturing firms based in South Korea from May 12-18.Among them, 84.7 percent said the innovation pace of South Korean firms is slower than that of Chinese ones, according to the KCCI.In a hypothetical question, the KCCI put the innovation speed of Chinese companies at 100 kph and a
June 22, 2016
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Asiana Airlines considering JV for in-flight food service
[THE INVESTOR] Asiana Airlines, the nation’s second-largest air carrier, is mulling a joint venture for in-flight catering, local news reported on June 22. Citing sources from the airline industry, the report indicated that Asiana has been discussing the plan with various companies here and abroad. “Asiana, which has outsourced catering, is planning on establishing a new JV,” a source was quoted as saying. Asiana began in-flight catering business in 1994 and continued until 2003 when it sold 80
June 22, 2016