[THE INVESTOR] South Korea is planning to launch a euro-based payment system for companies doing business with Iran. This is after the US government gave its nod of approval to the move in June during a Korea-US finance ministers meeting.The Seoul government is now in the process of selecting a bank to manage the new system. The two candidates are the Industrial Bank of Korea and Woori Bank. Partner banks in Europe will also be selected following further talks with Washington. Pixabay.comEuro is

July 12, 2016

[THE INVESTOR] The European Union delegation to Korea and Korea’s Ministry of Strategy and Finance launched a project last week to tackle greenhouse gas emissions as part of bilateral cooperation to curb climate change. The emissions trading scheme cooperation project -- worth over 3.5 million euros ($3.87 million) -- will run until January 2019. The EU will offer technical assistance and expertise to Korea through consultations, workshops and study visits to the EU. Through the three-year initi

July 11, 2016

[THE INVESTOR] South Korean share prices are likely to be stuck in a tight range next week, with a slight chance of them moving upward on eased Brexit woes, analysts said on July 9.“The KOSPI will likely defend the 1,950-point level next week as problems stemming from Europe seem to be abating, but the index will still likely be at a lower level than the one seen immediately following the Brexit vote,” Bookook Securities analyst Kim Sung-hwan told Yonhap News. Investors were expected to stay on

July 9, 2016

[THE INVESTOR] Naver CEO Kim Sang-hun on July 8 apologized for plagiarizing local translation service Flitto, adding that Naver would halt its services. “We have decided to stop our translation services as of this month after receiving complaints that they appear to be a rip-off of Flitto,” Kim said.Flitto CEO Lee Jung-soo on July 7 had raised issue with Naver’s latest translation service that allow people to freely solicit translation work and take part in the translation process, saying it was

July 8, 2016

[THE INVESTOR] LINE Corp., the Japanese mobile messaging affiliate of Naver, said on July 4 that it will raise its initial public offering price band to 2,900-3,300 yen.On June 28, LINE had set the range at 2,700-3,200 yen. The official IPO price will be fixed on July 11. LINE shares will be floated simultaneously in Japan and the US on July 15. Market consensus has it that LINE would be able to secure 132.8 billion yen (US$129.4 million) worth of funds from the IPOLINE officials said it decided

July 4, 2016

[THE INVESTOR] Economic policymakers and business circles in Korea are on alert over signs that trade protectionism is rising across the globe.A report released by the World Trade Organization last month showed that in the seven months leading up to mid-May 2016, G20 economies introduced 145 protectionist measures, the highest since 2009.Some economists say this phenomenon may not necessarily prompt a grave worry as it remains within the boundaries of the existing mechanisms and relates partly t

July 4, 2016

[THE INVESTOR] World’s fifth largest carmaker Hyundai Motor was the No.4 automaker in Brazil for the first half of this year, according to UOL, the largest Brazilian internet portal.Hyundai sold 95,965 units in Brazil during the January-June period, accounting for 10.1 percent of the South American country’s auto market.At first spot was US carmaker General Motors with a 16.6-percent market share, followed by Fiat Chrysler Automobiles with a 15.1 percent and German carmaker Volkswagen with 13.3

July 2, 2016

[THE INVESTOR] Korean shares are likely to trade higher next week as the impact of Britain's recent decision to quit the European Union is subsiding, analysts said on July 2.The benchmark Korea Composite Stock Price Index has already gained 3.19 percent this week to end at 1,987.32 on July 1. That was after it suffered a 3.09 percent loss following Britain’s June 24 referendum.Next week, analysts said the KOSPI will likely trade between 1,950 to 2,020 as central banks worldwide are poised to mee

July 2, 2016

[THE INVESTOR] Incheon International Airport will deploy autonomous robots programmed to clean its facilities and to provide information, before the nation hosts the Winter Olympics in 2018.Incheon International Airport Corp. and LG Electronics on July 1 signed a memorandum of understanding for the robot project and agreed to test run prototype machines from later this year.Concierge robot / LG ElectronicsThe project is a part of the airport’s smart service strategy, an official said. Robots wil

July 1, 2016

[THE INVESTOR] South Korea will seek to boost debt issues of small and medium-sized enterprises with credit ratings of below “A” through increased investor protection and opening up new channels for debt financing, the top financial regulator said July 1.This comes as investors are becoming more risk-averse, investing only in high-grade bonds issued by Korean conglomerates amid decreasing market confidence and a global slowdown.With its measures, the Financial Services Commission seeks to reinvi

July 1, 2016