[THE INVESTOR] Hanmi Pharmaceutical’s second-quarter operating profit is projected to grow significantly, while sales will likely suffer a decline, industry data showed on July 11. According to a market data provider FnGuide, Hanmi’s operating profit is expected to grow fourfold in the second quarter on-year to 10.8 billion won (US$ 9.4 million). However, sales will fall 3.56 percent to 235 billion won. Analysts say lower-than-expected growth from Hanmi subsidiaries such as Beijing Hanmi and Han

July 11, 2016

[THE INVESTOR] South Korea will dramatically increase its spending on robots and artificial intelligence next year, the Ministry of Science, ICT and Future Planning said on June 30. The government decided to inject a total of 470 billion won (US$406 million) in the high-tech industry, a 49.6 percent increase over this year’s 314 billion won. The plan was approved during the National Science and Technology Council’s session to decide allocation of R&D projects for 2017. Artificial intelligence is

July 1, 2016

[THE INVESTOR] Tech giant Samsung Electronics will help local start-ups and designers with mobile phone related ideas into business opportunities, the company said on June 24.  SamsungThe company will hold a program titled “Creative Square,” inviting start-ups, students, future entrepreneurs and designers to participate. When chosen as a partner, the selected parties will receive up to 100 million won (US$86,349) of funds to design. They can also use the research and design facilities at Samsung

June 24, 2016

[THE INVESTOR] Hyundai Merchant Marine’s stock closed at 15,400 won (US$13) on June 23, a 29 percent hike from the previous day, on the news that the financially troubled shipping line is on talks to join the world’s largest shipping alliance. HMM said it is considering to join the 2M Alliance, a vessel-sharing agreement between Denmark’s Maersk Line and Switzerland’s Mediterranean Shipping Company -- the world’s first and second largest container carriers.  Lee Sang-sub/The InvestorPreviously,

June 23, 2016

[THE INVESTOR] Apple’s popular music streaming service Apple Music is preparing to launch its service in Korea, the local media reported on June 23. “We formed a contract with Apple Music to begin streaming service here,” said an official from Federation of Korean Music Performers, a music copyright association. “We made agreements on how to pay the copyright fees to the artists.“He added that key terms of the contract can not be released at this time. Apple Music had previously attempted to ent

June 23, 2016

[THE INVESTOR] Major American companies such as Facebook, Microsoft and IBM as well as the South Korean government have joined in efforts to help local start-ups gain a foothold in the U.S.  　Members of the American Chamber of Commerce in Korea held a ceremony on June 14 to mark the launch of the “Global Leading Companies Mentoring Startups” campaign, in partnership with the Ministry of Science, ICT and Future Planning. 　A total of 33 companies participated in the event, including 19 AMCHAM memb

June 15, 2016

[THE INVESTOR] July’s stock debut of Tokyo-based Line Corp., the mobile messenger platform owned by Korean portal Naver Corp., could be a burden for the tech giant initially, market watchers say, but it would likely benefit Naver’s share price down the road. Line on Friday announced that it is seeking to sell 35 million new shares through its initial public offering, raising as much as 113 billion yen ($1.06 billion). The new shares, which will be offered at 2,800 yen per share, will begin tradi

Technology June 13, 2016

English online business news service The Investor opened Monday, with the aim of providing investors with timely, accurate and influential information on Korea’s business scene. Founded by Korean media and lifestyle company Herald Corp., The Investor delivers expert analysis, breaking stories and in-depth market coverage in English for people who make decisions around the globe. 　Foreign investments currently make up around 50 percent of ownership in major conglomerates in Korea. Despite signifi

June 13, 2016

Asia News Network, the regional media alliance of 21 leading newspapers, has launched its new website (www.asianews.network), which can also be accessed on mobile devices. The network, of which The Korea Herald is an active member, also unveiled a new logo. 　The new website, launched during the network’s annual board meeting in Beijing last week, will provide selected top stories from member papers on a daily basis. The new site boasts a reader-friendly interface. ANN also plans to launch a dail

Industry June 7, 2016

Hyundai Merchant Marine Co., South Korea's second-biggest container carrier, is aiming to cut a deal that will set new rates on chartered ships this week, sources said Monday.   Hyundai Merchant is expected to sign an initial deal with the owners of chartered ships that can lower rates as early as Tuesday, government officials and industry insiders familiar with ongoing negotiations predicted.    The company has been in talks with 22 shipowners. It paid 976 billion won (US$823 million) in charte

Industry June 6, 2016