[THE INVESTOR] TOKYO -- POSCO has put down some 3 billion won (US$2.67 million) for a foundation established this year to aid those forced into labor by Japanese companies under colonial rule between 1910 and 1945. According to reports from Japan’s the Asahi Shimbun on Aug. 25, POSCO made the donation on Aug. 5. POSCO in 2014 had pledged to make 10 billion won in donations based on claims from forced labor victims the company had abused money that should have been theirs. POSCO’s precursor, Poha

Aug. 25, 2016

[THE INVESTOR] Hanmi Semiconductor, a Korean semiconductor equipment-maker celebrated the completion of its third factory in Incheon, the firm announced Aug. 22. The event follows on the heels of a 37.5 billion won (US$33.5 million) investment Hanmi achieved from German-American venture capitalist Peter Thiel. “We are working to increase our capacity to keep up with the growing demand, especially from China and Taiwan,” said Kwak Dong-shin, vice chairman of Hanmi.  Hanmi SemiconductorEstablished

Aug. 23, 2016

[THE INVESTOR] S-Oil posted the highest operating profit rate of 14.9 percent in the first half of this year out of Korea’s top 30 industrial groups, according to data from corporate tracker CEO Score on Aug. 22.The country’s third-largest refiner saw its first half operating profit rise 34.1 percent on-year during the first six months of this year to 1.13 trillion won (US$1 billion). In the second quarter, S-Oil posted a record quarterly operating profit rate of 15.3 percent. Hyundai Department

Aug. 22, 2016

[THE INVESTOR] Local entertainment agency stocks fell to record-lows in the wake of a standoff between South Korea and China over the planned deployment of Terminal High Altitude Area Defense system. SM Entertainment’s share price fell 5.32 percent to a 52-week-low of 28,150 won (US$25.10) on Aug.5. Another major agency, YG Entertainment, saw its share price close 4.59 percent lower at 32,250 won, another 52-week-low. SM Entertainment's idol group EXO. SM EntertainmentIndustry experts say China’

Aug. 5, 2016

[THE INVESTOR] Political events often have significant impact on the economy, and South Korea’s recent decision to deploy the advanced anti-missile system Terminal High Altitude Area Defense is having some major economic repercussions.The biggest of them comes from China, South Korea’s largest trade partner. THAAD does not threaten China in a military sense, but Beijing is concerned about the increased leverage that the US would wield in the region. Chinese president Xi Jin-ping.Beijing has been

Aug. 5, 2016

[THE INVESTOR] Shinsegae Group is awaiting final confirmation from Tesla Motors to open its first Korean dealership in Starfield Hanam shopping mall, officials said on Aug.4.“It is true that talks are ongoing between Shinsegae and Tesla Motors, but we have yet to reach a deal. We are still waiting for the final go-ahead,” said Choi Kyu-wook, a Shinsegae spokesman. A Tesla retail store in Houston, the US.Starfield Hanam in Gyeonggi Province is scheduled to open this September as the nation’s larg

Aug. 4, 2016

[THE INVESTOR] A series of unfortunate events and negative factors abroad are hindering the South Korean economy from growing toward its desired targets. The impact of the U.K.’s Brexit vote was beginning to ease up, with the government pledging fiscal support through a 28 trillion won ($25 billion) stimulus package following the central bank’s monetary easing. But falling oil prices now stand in the way of Asia’s fourth-largest economy reaching its potential.With crude oil prices dropping below

Aug. 3, 2016

[THE INVESTOR] Oil funds and exchange-traded funds have been incurring losses over the past month on falling oil prices, according to industry data. After rising to US$51.23 per barrel in June, crude oil prices have been on a downward trend. On Aug. 2, they hit a near four-month low by falling to US$39.51. 123rfThree major oil funds managing 1 billion won (US$ 897,900) or more here have been showing negative growth as of Aug.1, according to local financial data tracker FnGuide on Aug. 3. The mon

Aug. 3, 2016

[THE INVESTOR] Audi Volkswagen Korea has yet to announce monetary compensation for its customers, according to industry sources.Despite the damages the Germany-based carmaker has caused here by putting cars with fabricated specs on the street, Volkswagen has yet to release any details on how it would be compensating its Korean customers who are now preparing lawsuits following the latest decertification decision. These customers will also be requesting the Environment Ministry to order VW Korea

Aug. 2, 2016

[THE INVESTOR] Audi Volkswagen Korea has a rocky road ahead for getting its cars recertified.Imported cars are usually required to submit related documents to receive certification from the South Korean government, but Volkswagen vehicles that were penalized for fabricated emission and noise levels will have to undergo specific tests for recertification, according to the Environment Ministry. 　 Volkswagen AG CEO Matthias Muller.The recertification tests will be conducted to confirm that the car

Aug. 2, 2016

[THE INVESTOR] Klasse Auto, the largest dealer of Audi Volkswagen Korea, on Aug. 2 issued an apology to customers.“We have disappointed and worried our customers due to the latest Volkswagen scandal, and as an official dealer, we feel it is part of our responsibility to do our best to protect your interests,” Klasse Auto president Lee Byung-han said via the dealer’s homepage. “We will also do our utmost to offer our clients satisfactory after-sales services,” Lee said. A Klasse Auto showroom in

Aug. 2, 2016