[THE INVESTOR] Air Busan, the budget carrier affiliated with Asiana Airlines that is seeking an initial public offering next year, said on Sept. 19 it has recently purchased its own shares worth 12 billion won (US$11 million) from Meritz Fire and Marine Insurance. It is the company’s first share buyback since its establishment in 2007. The company said it purchased 399,000 shares or 3.99 percent of its shares from Meritz on Sept. 13, paying 30,000 won per share. Considering the book value of the

Sept. 20, 2016

[THE INVESTOR] Asiana Airlines, the nation’s second-largest flag carrier, plans to purchase six new aircrafts next year spending 582.2 billion won (US$520 million). According to the company’s recent report to the Financial Supervisory Service, the company will operate a total of 81 air planes by the end of next year. This year, the company plans to adopt 11 aircrafts, including two A380 jumbo jets, for 648.1 billion won.Asiana Airlines’ A380 jumbo jetAsiana was using loans worth 4.27 trillion wo

Sept. 20, 2016

[THE INVESTOR] KTB Investment and Securities on Sept. 20 forecast that Hyundai Motor, the nation’s largest carmaker, will see its third-quarter operating profit decline 7.3 percent to 1.39 trillion won (US$1.20 billion). Its revenue was also estimated to drop 5.3 percent to 22.17 trillion won. “The key factor is that its domestic plants have seen a 23.4 percent decrease in production,” the securities firm said in a report. “The carmaker’s profitability will be affected by marketing and administr

Sept. 20, 2016

[THE INVESTOR] GM Korea said on Sept. 19 it will sell 10 units of its new Chevrolet Aveo compacts via Auction, a local online shopping site affiliated with eBay Korea, on Sept. 26. This is the first time in Korea that a carmaker has decided to sell vehicles online. Even though the unprecedented online car sale seems more like a marketing activity, industry watchers say other carmakers could follow suit considering consumer reaction, especially among youngsters who prefer online shopping rather t

Sept. 19, 2016

[THE INVESTOR]  GE Korea said on Sept. 19 it has named Kim Ok-jin, chief operating officer, as the first chief executive officer of GE Power Systems Korea, a new business division of GE Power Korea. GE Power Systems Korea is a new entity set up after GE Power acquired the heart recovery steam generator business from Doosan Engineering and Construction in August this year. Kim Ok-jinThe production facilities are located in Changwon, South Gyeongsang Province, and Hi Phong in Vietnam. Kim joined G

Sept. 19, 2016

[THE INVESTOR]  SK hynix, the nation’s No. 2 chipmaker, was named the most favored stock for foreigners this year, while institutional investors preferred Samsung Card. Samsung Electronics was the least favored stock for both foreign and institutional investors. According to FN Guide, a local fund tracker, foreign investors have purchased SK hynix shares worth 1.05 trillion won (US$950 million) this year as of Sept. 12, elevating the price by 25 percent to 37,800 won. Other top stocks based on f

Sept. 19, 2016

[THE INVESTOR] Samsung Electronics has suspended TV commercials for the recalled Galaxy Note 7 smartphone, with no deadline set for resumption, industry sources said on Sept. 13. At the request of Samsung, the nation’s top three broadcasting stations -- KBS, MBC and SBS -- have decided to stop airing the commercials that will be replaced with those for the company’s other electronics products such as refrigerators and TVs. Other cable TV channels are also not airing the commercials now.  A scree

Sept. 13, 2016

[THE INVESTOR] KB Investment & Securities on Sept. 13 raised the possibility that Samsung Electronics could advance the launch of its next flagship smartphone, tentatively called Galaxy S8, earlier than planned following the recall of the Galaxy Note 7. “Smartphone demands have polarized: advanced and emerging markets, and premium and budget phones,” said Kim Sang-pyo, an analyst at the securities firm. “If Samsung’s flagship smartphone launch is delayed to the end of the first quarter of next y

Sept. 13, 2016

[THE INVESTOR]  The Canadian government on Sept. 12 (local time) issued a recall of Samsung Electronics’ Galaxy Note 7 smartphone, urging customers to register for an exchange program immediately. This is the first time that a government has issued a recall on the Note phone since the company announced it was recalling about 2.5 million phones globally on Sept. 2. “The Samsung Note 7 smartphone battery has the potential to overheat and burn, posing a potential fire hazard,” Health Canada, the fe

Sept. 13, 2016