[THE INVESTOR] Hyundai Merchant Marine may be the sole bidder for Hanjin Shipping’s Asia-US route, industry sources said on Oct. 27. HMM, which is currently under a creditor-led restructuring program, is planning to submit a preliminary bid for Hanjin’s lucrative route, the sources said. Potential bidders are required to submit their bids by Oct. 28. A final bidding is scheduled for Nov. 7.Hanjin Shipping is seeking to sell its assets in an effort to survive an industry-wide slump and cash short

Oct. 27, 2016

[THE INVESTOR] Technology companies across the globe gathered for South Korea’s major electronics show on Oct. 26 to present their smart gadgets, consumer electronics, mobile applications and smart electric vehicles. Hosted by the Ministry of Trade, Industry and Energy, the 47th Korea Electronics Show 2016 kicked off at Coex in southern Seoul to run until Oct.29, presenting 1,500 booths for 500 companies at home and abroad. This year’s exhibition features electronic parts and materials, ICT prod

Oct. 26, 2016

[THE INVESTOR] Subsidiaries of family-owned conglomerates in South Korea run by the third-generation owners have a higher ratio of internal trading to sales than firms owned by their parents, a market tracker said on Oct. 26. The portion is much higher at unlisted units of chaebol, which is seen as aimed at helping third-generation owners cement control over the business empires by giving lucrative contracts to their companies.In an analysis of listed chaebol companies in which owner families ow

Oct. 26, 2016

[THE INVESTOR] South Korea’s car exports declined 17.4 percent on-year in the third quarter, according to the customs data on Oct. 26. The total value of exported vehicles reached US$7.23 billion in the July-September period, down from US$8.76 billion a year earlier, according to the data compiled by the Korea Customs Service.Local carmakers led by No. 1 Hyundai Motor shipped out 515,000 cars in the three-month period, marking a 19.4 percent plunge from the 639,000 tallied in the same period las

Oct. 26, 2016

[THE INVESTOR] Flower sales in South Korea have decreased more than 20 percent on-year in October, following the implementation of an anti-corruption law, data showed on Oct. 26.According to the data by the Korea Agro-Fisheries & Food Trade, flower transactions came to 1.96 million bunches in the first 24 days of this month, down a whopping 22 percent from the same period a year earlier.The plunge is deemed unusual as flowers are in high demand in October when many youths tie the knot or compani

Oct. 26, 2016

[THE INVESTOR] South Korea’s national debt to gross domestic product ratio is lower than advanced nations, but not that low given its aging population, a report shows on Oct. 26. The National Assembly Budget Office said in the report that Seoul thus needs to step up efforts to bolster its fiscal soundness as its national debt has been rising at a much faster clip in the 2010s than countries in Southern Europe that suffered a debt crisis.According to the report, South Korea’s debt-GDP ratio stood

Oct. 26, 2016

[THE INVESTOR] The overall sentiment of South Korean consumers climbed to a 10-month high in October, the central bank said on Oct. 26. The composite consumer sentiment index for October came to 101.9, compared with 101.7 the previous month, according to the data from the Bank of Korea. The figure marks the highest since December 2015 when the index stood at 102.4.A reading above 100 means optimists outnumber pessimists.A separate index gauging the people‘s sentiments toward the current economic

Oct. 26, 2016

[THE INVESTOR] South Korea came in fifth in terms of business environment among 190 countries, according to a report by the World Bank on Oct. 26. According to the organization’s annual “Doing Business 2017” ranking report, the country received 84.07 points in total, slightly up from the previous year’s 83.88, but fell one notch from a year earlier.Every year, the World Bank analyzes 189 countries’ business environments by breaking them down into 10 broad categories in accordance with the busine

Oct. 26, 2016

[THE INVESTOR]  South Korea’s health insurance outlays climbed to 57.95 trillion won (US$50.98 billion) last year buoyed by the increasing number of senior citizens requiring medical attention. The total amount to cover medical examinations, hospitalizations and drug purchases rose 6.6 percent on-year in 2015, according to the report by the Health Insurance Review and Assessment Service and the National Health Insurance Corporation on Oct. 25. On average, a South Korean visited a hospital or cli

Oct. 25, 2016

[THE INVESTOR]  The chief of Oxy Reckitt Benckiser apologized to the victims of the company’s toxic humidifier sterilizer products at a court hearing on Oct. 25.Ata Safdar appeared at the Seoul Central District Court as the representing director of the Korean unit of the British firm, which is standing trial as a defendant on charges of violating the Act on Fair Labeling and Advertising.“Firstly, I want to say that we are sorry for the great tragedy that is happening,” he said during the trial.

Oct. 25, 2016

[THE INVESTOR] An executive of the country’s largest business lobby group was summoned on Oct. 25 in relation to the two nonprofit foundations, allegedly linked to a controversial figure with ties to President Park Geun-hye.Lee Yong-woo at the Federation of Korean Industries was called in by the Seoul Central District Prosecutors’ Office to face questions over the Mir Foundation and K-Sports Foundation. Established in 2015 and early this year, the two foundations are suspected of raising a combi

Oct. 25, 2016