The Korea Herald

Internet bank seeks gov’t approval to operate

[THE INVESTOR] South Korea’s financial regulatory body said on Sept. 30 it will soon decide whether to issue a permit for the nation’s first online-only bank.Two consortiums, one led by KT and the other by Kakao, are preparing to enter the banking sector with their technical expertise.KT’s consortium submitted an application earlier in the day for the government’s approval for the establishment of K-Bank, the Financial Services Commission said.The envisioned internet bank will be capitalized at

Sept. 30, 2016

Internet bank seeks gov’t approval to operate

KOSDAQ opens lower at 688.49 down 1.34 points

[THE INVESTOR] KOSDAQ opened lower at 688.49, down 1.34 points (0.19%) on Sept. 30.

Sept. 30, 2016

KOSPI opens lower at 2,052.25 down 14.47 points

[THE INVESTOR] KOSPI opened lower at 2,054.25, down 14.47 points (0.70%) on Sept. 30.

Sept. 30, 2016

KOSDAQ closes higher at 689.83 up 3.07 points

[THE INVESTOR] KOSDAQ closed higher at 689.83, up 3.07 points (0.45%) on Sept. 29.

Sept. 29, 2016

KOSPI closes higher at 2,068.72 up 15.66 points

[THE INVESTOR] KOSPI closed higher at 2,068.72, up 15.66 points (0.76%) on Sept. 29.

Sept. 29, 2016

US consumer agency warns over Samsung washer's safety issues

[THE INVESTOR] The US consumer protection agency said on Sept. 28 it’s working with Samsung Electronics to address safety issues related to some of its washing machines.The Consumer Product Safety Commission said it’s “actively and cooperatively working with Samsung” to resolve the issues “related to certain top-load washing machines made between March 2011 and April 2016.”“CPSC is advising consumers to only use the delicate cycle when washing bedding, water-resistant and bulky items. The lower

Sept. 29, 2016

Lotte Chairman avoids arrest over corruption allegation

[THE INVESTOR] A Seoul court on Sept. 29 rejected the prosecutors’ request for a warrant to formally arrest Lotte Group Chairman Shin Dong-bin over embezzlement and breach of trust charges.The Seoul Central District Court turned down the request, saying it’s difficult to recognize the need for arresting the 61-year-old chairman of the retail giant.Prosecutors have accused Shin of orchestrating a series of shady deals at the group‘s affiliates, as well as giving large stipends to the owner’s fami

Sept. 29, 2016

Lotte Chairman avoids arrest over corruption allegation

Korea’s consumer sentiment little changed in Sept.

[THE INVESTOR] The overall sentiment of South Korean consumers was little changed from a month earlier in September, central bank data showed on Sept. 29.The composite consumer sentiment index for September came to 101.7, compared with 101.8 a month earlier, according to the data from the Bank of Korea.A reading above 100 means optimists outnumber pessimists.A separate index gauging the people’s sentiments toward the current economic conditions came to 72 in September, down from 74 a month earli

Sept. 29, 2016

KOSDAQ opens higher at 689.34 up 2.58 points

[THE INVESTOR] KOSDAQ opened higher at 689.34, up 2.58 points (0.38%) on Sept. 29.

Sept. 29, 2016

KOSPI opens higher at 2,063.74 up 10.68 points

[THE INVESTOR] KOSPI opened higher at 2,063.74, up 10.68 points (0.52%) on Sept. 29.

Sept. 29, 2016

Lotte founder’s daughter additionally charged with tax evasion

[THE INVESTOR] Embattled Lotte Group founder Shin Kyuk-ho’s daughter, currently standing trial for a string of corruption allegations, has been additionally charged with evading some tens of billions of won in taxes, prosecutors said on Sept. 28.The Seoul Central District Prosecutors’ Office, which is looking into the alleged corporate crimes of the country’s fifth-largest conglomerate, said Shin Young-ja is suspected of evading some 56 billion won (US$51 million) in gift taxes in the process of

Sept. 28, 2016

Incheon-bound Asiana plane returns to LA on false fire alarm

[THE INVESTOR] Asiana Airlines said on Sept. 28 that its Incheon-bound flight returned to Los Angeles earlier in the day apparently due to a malfunction of a smoke alarm for the cargo section.The A380 plane with 358 passengers onboard returned to Los Angeles three hours after its departure at 12:10 p.m. Sept. 27 (local time), after a smoke warning light came on for the cargo area.Asiana said aviation officials there didn’t find any signs of fire or smoke in the cargo section, possibly indicating

Sept. 28, 2016

KOSPI closes lower at 2,053.06 down 9.76 points

[THE INVESTOR] KOSPI closed lower at 2,053.06, down 9.76 points (0.47%) on Sept. 28.

Sept. 28, 2016

KOSDAQ closes lower at 686.76 down 1.23 points

[THE INVESTOR] KOSDAQ closed lower at 686.76, down 1.23 points (0.18%) on Sept. 28.

Sept. 28, 2016

KOSDAQ opens higher at 689.60 up 1.61 points

[THE INVESTOR] KOSDAQ opened higher at 689.60, up 1.61 points (0.23%) on Sept. 28.

Sept. 28, 2016