In an unprecedented move, research heads of more than 30 domestic securities companies released a joint statement Thursday to condemn Hana Tour for attempting to block research that was critical of its performance.The collective action was prompted by an official of Hana Tour, the nation’s largest travel agency, who threatened to freeze out an analyst at Kyobo Securities for writing a negative report on the company.In his March 30 report, the Kyobo analyst offered a sell rating on Hana Tour, low

Editorial April 11, 2016

Reports on chaebol scions and business owners accused of abusing their employees never cease, fueling anticorporate public sentiment and raising serious questions about the ethical standard of Korean business leaders.The latest case involves Chung Il-sun, president of Hyundai BNG Steel, an affiliate of Hyundai-Kia Motor Group that manufactures stainless steel products. He is one of the grandsons of the late Hyundai Group founder Chung Ju-yung.On Friday, a local media outlet reported that he had

Editorial April 11, 2016

The largest data leak in history — 11.5 million documents, coined the “Panama Papers” — is providing a glimpse into the 1-percenters’ world of offshore banking. So far, data obtained from Mossack Fonseca, a Panamanian law firm that specializes in setting up offshore shell companies (more than 200,000 of them, allegedly), has been linked to heads of state, celebrities, business leaders and other wealthy individuals from all over the world — all hiding behind elaborate fronts.An anonymous source p

Viewpoints April 11, 2016

Korea is undergoing such rapid demographic changes that many relevant statistics keep producing new records. Those on marriage are no exception.  　Latest figures show that in 2015, the number of marriages stood at 302,800, the lowest since 2003. The ratio of the number of marriages to every 1,000 people dropped to 5.9, marking the first time that it has gone below six.　The record-breaking spree continues: the average age of Korean men tying the knot for the first time reached a record high of 32

Editorial April 10, 2016

With the campaigns for Wednesday’s general election in the final stretch, voters should think about decisions they have already made or will make. Here are some of the points we suggest voters ponder over before they go to the polling stations. 　First, the quadrennial election should serve as a verdict on the administration of President Park Geun-hye. Her five-year single term of office has already passed its midway point, but an election like this is usually regarded as a sort of midterm evalua

Editorial April 10, 2016

European banks have lost their mojo. A toxic combination of negative interest rates, comatose economies and a regulatory backdrop that might euphemistically be described as challenging is wreaking havoc with bank business models. Their collective market value has dropped by a quarter so far this year.　The smoke signals emanating from the European Central Bank in recent weeks suggest regulators aren’t blind to this. Daniele Nouy, who chairs the ECB’s bank supervisory board, said earlier this week

Viewpoints April 10, 2016

On June 23, the U.K. will vote on whether to withdraw from the European Union. This is a momentous decision, with far-reaching economic and political consequences that are now being hotly debated. If Britons vote to exit, it could lead to a breakup of the EU, and set back the global move toward greater political integration.　This raises an intriguing question: What’s the optimal size for economic performance? Are we better off with many little competing city-states, a bunch of midsized nations o

Viewpoints April 10, 2016

U.K. Prime Minister David Cameron didn’t lie. He’s not accused of being a tax cheat. Unlike his Icelandic counterpart, he didn't have financial holdings that presented an obvious conflict of interest. Even so, he’s in trouble.　Cameron is under attack for revelations that he benefited, albeit legally, from shares in a fund his stockbroker father had set up in Panama. Cameron is unlikely to lose his job, as Iceland‘s Sigmundur David Gunnlaugsson did, but his reputation is taking a hammering. That’

Viewpoints April 10, 2016

The shadow of the army in Myanmar is a long one, but, over the past five years, it has shrunk. Next door in Thailand, though, the shadow of the Royal Thai Army is lengthening.　Public attention is veering to a referendum on a new proposed constitution, tentatively set for Aug. 7. 　It would be Thailand’s 20th constitution in 84 years since the abolition of absolute monarchy in 1932, during which time the country has also seen 12 successful and seven attempted coups by the armed forces.　The referen

Viewpoints April 7, 2016

As the Panama Papers ricochet around the world, triggering political crises in countries far and wide and engulfing politicians in scandal, Prime Minister Nawaz Sharif and his Pakistan Muslim League have been unable to suppress the outcry in Pakistan.　 In this age of leaks in the era of digital journalism and social media, mere denials appear to no longer be an option -- the torrent of accusations overwhelms whatever weak denials and exculpatory evidence is offered.　Ostensibly bowing to this pos

Viewpoints April 7, 2016