LINE sets IPO price at 3,300 yen

[THE INVESTOR] LINE Corp. has set the price for its initial public offering at the top of its marketing range to raise up to 132.8 billion yen (US$1.3 billion), the company said in a regulatory filing on July 11 in Tokyo. The immensely popular mobile messaging service, owned by Korean Internet giant Naver, will sell 35 million shares at 3,300 yen per share. Another 5.25 million shares also will be sold through a so-called greenshoe option allowing it to increase the amount of stock sold. The com

July 11, 2016

Samsung reaches agreement with Shinsegae on mobile payment services

[THE INVESTOR] Although Samsung Electronics has touted its mobile payment solution Samsung Pay as a universal payment platform available both online and offline, it had a major setback as it was unavailable at the stores run by South Korea’s largest retail firm Shinsegae.Things will likely change soon as the two have reportedly reach an agreement.Samsung Electronics’ mobile payment solution Samsung Pay. Samsung Electronics“After lengthy negotiations, the two companies have been able to find midd

July 11, 2016

Samsung SDS sets up logistics JV with Thailand’s Acutech

[THE INVESETOR] Samsung SDS, the IT solutions and logistics unit of Samsung Group, said on July 11 it has agreed with Thailand’s Acutech to set up a joint venture to expand its presence in the soaring Southeast Asian logistics market. Acutech, established in 1987, is Thailand’s largest logistics company whose key clients include electronics, automotive parts and food makers. Samsung SDS headquarters in Jamsil, southern SeoulTaking advantage of Acutech’s client base in the region, Samsung SDS pla

July 11, 2016

New start-up center to support foreign businesses

[THE INVESTOR] A new start-up center funded by the Seoul Metropolitan Government will help expats grow their businesses by assisting them in developing globally.The Seoul Global Startup Center in Yongsan-gu is the first government-subsidized scheme to provide seed funding mainly for foreigners through an incubation program in Korea. Seoul GSC’s five-month incubation program will provide 10 million won ($8,656) in seed funding to successful applicants.Each team will also receive a 24-hour office

July 11, 2016

LG Display to benefit from Samsung Display’s shutdown of LCD lines

 [THE INVESTOR] Seoul-based display maker LG Display will likely see its operating profit jump 26 percent to 419 billion won (US$361.6 million) in the July-September period this year thanks to a price increase of liquid-crystal display, according to an investment report.“The price of liquid-crystal displays will continue to be on an upward trend,” said Jeong Won-seok, an analyst from HI Investment & Securities, in his recent investment report, adding the operating income in the latter half would

July 8, 2016

LG Electronics eyes high-end market in Latin America

[THE INVESTOR] LG Electronics is seeking expansion in Central and South American markets for high-end home appliances. The company said on July 8 that it opened a four-day event introducing its new lineup in Cancun, Mexico. The event, titled InnoFest, opened on July 6, the company said. LG Electronics, which has been holding InnoFest events across the globe since February, plans to introduce a diverse range of new products in the region this year. The company plans to lead with its new Twin Wash

July 8, 2016

Samsung makes up 9% of China Mobile phones

[THE INVESTOR] Samsung Electronics phones made up 9 percent of smartphones used by 800 million China Mobile customers, China’s largest telecom carrier said in a recent report. The most favorite smartphone brand among China Mobile customers was Apple’s iPhone that made up 15 percent or some 120 million phones of the total. Together with Samsung, China’s Xiaomi and Huawei were ranked second with 9 percent market share, respectively. Samsung Galaxy S7 launch event held in ShanghaiChinese runner-ups

July 8, 2016

Operating-margin gap between Samsung, Apple likely to decline

[THE INVESTOR] The operating-margin gap between South Korean tech giant Samsung Electronics and California-based Apple is likely to reduce to a record low level in the April-June period. Samsung Electronics said in its earnings guidance for the three-month period that it posted 8.1 trillion won (US$7 billion) of operating income and 50 trillion won of revenue during the three months. Based on the estimated figures, the operating margin of the Korean firm will come in at 16.2 percent, the second

July 8, 2016

FTC refuses to delay decision on SK-CJ merger

[THE INVESTOR] The Fair Trade Commission has refused CJ HelloVision’s request to delay its decision on the planned merger and acquisition deal with SK Broadband, an IPTV firm run by SK Telecom. FTC officials told Herald Business and The Investor that they would not be pushing back the schedule.  Last week, the regulator handed down a preliminary decision to CJ and SK, saying that it opposes the merger, as it could hamper fair market competition by unleashing an excessively-dominant player. CJ an

July 8, 2016

CJ HelloVision asks watchdog to postpone decision on M&A with SK Broadband

[THE INVESTOR] Cable TV operator CJ HelloVision has sought the antitrust regulator’s permission to delay a meeting for deciding on its planned merger and acquisition deal with SK Broadband, a local IPTV firm.To that end, it also said it would like to delay submitting a report on the matter. “We have asked the Fair Trade Commission to postpone its July 15 standing committee meeting by a month, and the report deadline to Aug. 4,” CJ HelloVision said in a statement, stressing that the schedule is t

July 8, 2016

Samsung shares Olympic spirit with new Galaxy S7 Edge

[THE INVESTOR] Tech giant Samsung Electronics unveiled the Galaxy S7 Edge Olympic Games Limited Edition in Sao Paulo, Brazil, ahead of the Rio Olympic Games to be held from Aug. 5 to 21.The latest handset features Olympics-inspired designs -- the colors of the Olympic Rings are featured in the phone’s home and lock screens as well as the message, dial and contact screens and notification bar. Wallpapers themed with the Rio 2016 Olympic Games are also featured.Working with the International Olymp

July 8, 2016