[THE INVESTOR] Samsung Electronics said on Oct. 27 its third-quarter earnings tumbled 29.7 percent from a year ago, hit hard by the ongoing recall of the fire-prone Galaxy Note 7 smartphone whose sales and production were stopped this month due to safety concerns. The Korean tech giant said its operating profit for the July-September period stood at 5.2 trillion won ($4.6 billion), compared with its earnings of 7.3 trillion won a year ago. Revenue also fell 7.4 percent to 47.8 trillion won.  Fin

Oct. 27, 2016

[THE INVESTOR] Kohlberg Kravis Roberts, the US private equity fund, and its Korean partner Anchor Equity Partners are considering new funding for Ticket Monster, a local e-commerce operator that they acquired in April last year. The Bell, a local news outlet, reported on Oct. 26 that the two investment firms have recently started related reviews through their financial advisor Credit Suisse. Ticket Monster, the market No. 3 by sales, has carried out a new round of funding program worth US$300 mi

Oct. 26, 2016

[THE INVESTOR] Korea Investment & Securities on Oct. 26 projected that Lotte Group could seek the stalled stock listing of Hotel Lotte, the group’s de facto holding company, next year. “Chairman Shin Dong-bin has pledged to set up a holding company to improve ownership structure in his reform plans,” said Yoon Tae-ho, analyst at the securities firm. “Hotel Lotte’s listing would be the starting point for Lotte to break away from its Japanese origin as well as helping it secure cash for investment

Oct. 26, 2016

[THE INVESTOR] Korean Air Lines, the largest shareholder of Hanjin Shipping, on Oct. 25 made it clear that there will be no additional aid to the cash-strapped shipper that has been put under court receivership since early this month. “We expect no more impact from funding to Hanjin Shipping,” a Korean Air executive said during a conference call on the day. “We will continue efforts to improve our financial structure, including issuing additional perpetual bonds.”Hanjin Group Chairman Cho Yang-h

Oct. 25, 2016

[THE INVESTOR] Apple’s latest iPhone 7 is seeing its Korean sales almost double compared to its predecessor amid the absence of its key rival Samsung Galaxy Note 7 whose sales have been suspended due to safety concerns. Four days after its official launch here on Oct. 21, the newest iPhone is estimated to have sold more than 200,000 units. Industry watchers predict the sale figure could hit the 300,000 mark within the month. “The supply situation is much better compared to that of its predecesso

Oct. 24, 2016

[THE INVESTOR] LG Electronics has allegedly decided not to adopt the modular concept of its flagship smartphone G5 for its successor, tentatively called G6 that will be launched next year. According to news reports on Oct. 21, the Korean tech giant has made the decision following the dismal failure of the G5, the industry’s first modular smartphone that is accompanied with accessory modules that improve camera and audio functions. Despite the highly publicized debut in February, the phone has fa

Oct. 21, 2016

[THE INVESTOR] Samsung Electronics is considering using LG Chem batteries for its next flagship Galaxy S8 smartphone after an unprecedented recall of its Note 7 due to faulty batteries. According to news reports on Oct. 20, the Korean tech giant is talking with LG Chem for possible partnership in a move to diversify its battery suppliers other than Samsung SDI and China’s ATL. “We are looking at diverse suppliers, including LG Chem,” a Samsung executive was quoted as saying by Maeil Business New

Oct. 20, 2016

[THE INVESTOR]  Some 50 top  Samsung Group executives on Oct. 19 attended a special lecture on the global trend of virtual reality and augmented reality technologies in their weekly meeting at the Seoul headquarters. The lecture was delivered by Woo Won-taek, professor of Korea Advanced Institute of Science, a renowned AR specialist that has been leading an AR research center at the elite school. The weekly meeting of Samsung’s top brass is held every Wednesday at the head office building, follo

Oct. 19, 2016

[THE INVESTOR] Ssangyong Motor, the Korean unit of Indian auto giant Mahindra & Mahindra, said on Oct. 19 that it has sold 111,683 vehicles in the first nine months of this year, the best sales performance since 2002. The sales figure was up 7.5 percent from the same period last year, largely driven by its hot-selling compact SUV Tivoli whose sales have soared 39.7 percent over the past year. The carmaker said it sold 73,929 vehicles in Korea and 15,278 overseas. Revenue also jumped 8.8 percent

Oct. 19, 2016

[THE INVESTOR] The US Consumer Product Safety Commission, which sparked the global recall of  Samsung Electronics' fire-prone Galaxy Note 7 smartphone, said it plans to launch a large-scale safety investigation into lithium-ion batteries in the market. “On Wednesday, the chairman of our agency, Elliot Kaye, will propose that CPSC staff undertake a new project that takes a broad look at the safety of lithium-ion batteries,” Scott Wolfson, communications director at the CPSC, told The Investor via

Oct. 19, 2016

[THE INVESTOR] Samsung Electronics’ flagship Galaxy S7 smartphone is gaining a fresh sales momentum after its fire-prone Note 7 sibling was withdrawn from the market last week. According to local research firm Atlas Research & Consulting, the 32GB Galaxy S7 topped smartphone sales on Oct. 6-12 in Korea with a 16.1 percent market share. Data from the nation’s top three telecom carriers also showed about 15,000 units of the Galaxy S7 phones are selling every day over the past week in a market wher

Oct. 18, 2016

[THE INVESTOR] Samsung Electronics on Oct. 18 said that it will compensate parts suppliers to minimize their business impact from the discontinued Galaxy Note 7 smartphone. The Korean tech giant said it will pay for unused components and materials as well as finished parts. Some 70 parts makers are expected to benefit from the compensation plan worth about 300 billion won (US$260 million). Considering their reduced earnings, the company also plans to give them new orders for other Samsung smartp

Oct. 18, 2016

[THE INVESTOR] Samsung Electronics is doubling its smartphone production in India with fresh investment worth 19.7 billion rupees (US$300 million). The Korean tech giant on Oct. 17 signed a memorandum of understanding with the state government of Uttar Pradesh, the most populated state in northern India. Samsung will set up a new manufacturing plant in Noida, its production base in India, and also hopes to join the state government’s free smartphone scheme for underprivileged people that is expe

Oct. 18, 2016