Samsung Electronics’ operating profit to hit W29.5tr this year: Dongbu Securities

[THE INVESTOR] Dongbu Securities said on July8 that it will keep a “buy” opinion on Samsung Electronics shares as it expects the tech giant’s 0perating profit to increase 11.6 percent to 29.5 trillion won (US$2.5 billion) this year.The brokerage also kept unchanged the price target of 1.8 million won.On July 8, Samsung Electronics closed 0.69 percent higher at 1,460,000 won. Dongbu based the upbeat forecast on Samsung’s second-quarter operating profit, which stood at 8.1 trillion won, up 17.4 pe

July 8, 2016

Demand growing for safer, short-term investment tools on uncertainties

[THE INVESTOR] The lingering uncertainties in the global financial markets including the impact of Britain’s latest decision to quit the European Union are fueling a demand for safer, short-term investment tools.As of the end of May, funds in fixed deposits of six months or less, money market funds and other short-term financial products reached 876.2 trillion won (US$ 756.9 billion), according to the Bank of Korea and Hana Institute of Finance.When adding assets which are considered stable, suc

July 8, 2016

Finance Minister promises preemptive response to Brexit

[THE INVESTOR] South Korea will prepare for the possible impact of UK’s departure from the European Union through stronger international cooperation and stable management of foreign reserves, Finance Minister Yoo Il-ho said on July 8.Speaking at a meeting of economy-related ministers in Seoul, Yoo, who also doubles as deputy prime minister for economic affairs, said that the government will maintain healthy foreign reserves, saying that it was the “last bastion” for Korean economy.Finance Minist

July 8, 2016

South Korean share prices down on THAAD decision

[THE INVESTOR] South Korean share prices declined on July 8 after the country and its main ally, the US, agreed to deploy a high-tech antiballistic-missile interception system in Korea. The benchmark KOSPI index closed 0.56 percent lower at 1963.01 points as exporting firms like cosmetic makers became big losers. Investor sentiment was down, analysts said, on concerns over the possibility of diplomatic tension with China and Russia following the THAAD decision. South Korea and the US agreed to d

July 8, 2016

Seoul to consider possible Korea-UK FTA

[THE INVESTOR] South Korea will review opening free trade agreement negotiations with the UK, and to work with the European Union to minimize the impact of Brexit, should the decision be finalized. These and other measures for responding to the fallout from UK’s June 24 referendum were discussed at the meeting of economy-related ministers held on July 8. Pixabay.comAt the meeting, the attending ministers said that the impact of the UK leaving the EU will be analyzed and that the government will

July 8, 2016