[THE INVESTOR] Gimpo International Airport is coming under fire for continued safety concerns linked to its ongoing remodeling project after consecutive fires and flooding.The latest incident broke out on July 29 at approximately 6:30 a.m., when water leaked from the ceiling near the convenience store on the first floor and restrooms on the second floor, according to Korea Airports Corp., which operates the Gimpo airport.“The water came into the waiting area when heavy rains flooded the canopy

July 31, 2016

[THE INVESTOR] Household goods manufacturer Oxy Reckitt-Benckiser announced Sunday that it would provide up to 350 million won ($315,000) in compensation each to Korean victims of its lethal humidifier sanitizers. “The compensation package took into consideration the delay in preparing a proper response, and the severity of the issue (of the humidifier sanitizers’ danger),” the company said in a statement via its website, adding it would begin taking applications for compensation on Aug.1. Atar

July 31, 2016

[THE INVESTOR] POSCO Daewoo, South Korea's leading trade company, was picked as the single preferred bidder for a multimillion dollar project to build a power plant in Myanmar, the company said on July 31.The nation’s biggest steelmakerPOSCO’s subsidiary said it won the qualification during an international competitive bid held by Myanmar’s Electric Power Generation Enterprise.POSCO Daewoo headquarters.The bid winner will build a steam power plant in Shwetaung, northwest of largest city Yangon,

July 31, 2016

[THE INVESTOR] The head of the leading lobby group of local conglomerates, Federation of Korean Industries, has raised doubts about a local anti-graft law that will be implemented in September this year. “In the past, we have seen laws get scrapped or become nonexistent if they are too unrealistic. I am concerned that the anti-graft law will follow the same pattern,” said Huh Chang-soo, who is also chairman of GS Group, at a FKI-hosted CEO forum on July 28. GS Group chairman Huh Chang-soo.“Furth

July 29, 2016

[THE INVESTOR] NHN Entertainment has joined hands with KG Group to submit a bid to acquire McDonald’s Korea. The two will now be pitted against Korean food and entertainment giant CJ Group.KG Group is a local operator of mobile payment service, Kpay. Together with NHN Entertainment -- split off from Naver in 2013 -- it submitted a letter of intent to the sale manager Morgan Stanley, according to financial sources on July 25. KG Group is said to have joined the bid in order to apply its payment s

July 26, 2016

[THE INVESTOR] South Korean share prices are expected to remain in a tight range next week as investors wait for key economic events and take profit, analysts said on July 23.On July 22, the benchmark Korea Composite Stock Price Index had closed 0.34 percent down from a week ago to 2,010.34 points.This week, foreign investors scooped up stocks worth 800 billion won (US$704 million). They extended their buying binge to an 11th consecutive day on Friday. But experts say rising expectation for a ra

July 23, 2016

By Kim Tae-wooProfessor at Konyang University and former president of the Korea Institute for National Unification A Terminal High Altitude Area Defense interceptor being fired during an exercise in 2013. / WikipediaOn July 8, the South Korean Defense Ministry agreed to deploy the controversial Terminal High Altitude Area Defense system on the Korean Peninsula. China’s response was strong and immediate. It protested the move publicly, and also lodged formal complaints with the ambassadors of Sou

July 20, 2016