The Korea Herald

[URGENT] Naver Q2 earnings soar 44% on upbeat overseas sales

[THE INVESTOR] South Korean Internet giant Naver on July 28 posted its second-quarter operating profit of 272.7 billion won (US$240 million), up 44 percent from a year ago, largely driven by soaring overseas sales. Revenue soared 26.3 percent to 987.3 billion won. 　　

July 28, 2016

[URGENT] Samsung Electronics posts W8.14tr operating profit in Q2

[THE INVESTOR] Samsung Electronics on July 28 posted its second-quarter profit of 8.14 trillion won (US$7.2 billion), up 18 percent from a year ago. Revenue soared 5 percent to 50.94 trillion won. 　

July 28, 2016

[URGENT] LG Innotek posts W34b operating loss

[THE INVESTOR] LG Innotek, the car parts unit of LG Group, on July 27 posted its second-quarter earnings loss of 34 billion won (US$30 million) in the April-July period. Revenue stood at 1.12 trillion won.

July 27, 2016

[URGENT] Samsung C&T returns to profits in Q2

[THE INVESTOR] Samsung C&T, a construction and trading affiliate of Samsung Group, said on July 27 it posted second-quarter operating profit of 176.81 billion won (US$158.88 million), reversing a loss from the previous quarter. The company reported sales of 7.05 trillion won, up 8.7 percent on-quarter, and the net profit was at 134.58 billion won, the company said in a regulatory filing on July 27.

July 27, 2016

SK hynix to beef up 3-D NAND production

[THE INVESTOR] SK hynix said on July 26 plans to elevate its production capacity of 3-D NAND flash chips, used for long-term storage in smartphones and computers, to some 30,000 units by the end of this year. “We will focus on producing 36-layer (NAND) chips in the third quarter and beef up production of 48-layer chips from the fourth quarter,” the company said during a conference call. The world’s second-largest memory chipmaker after Samsung Electronics posted a second-quarter operating profit

July 26, 2016

[URGENT] SK hynix Q2 earnings down 67% on weak chip prices

[THE INVESTOR] SK hynix, South Korea's No. 2 chip maker, on July 26 posted second-quarter operating profit of 452.9 billion won (US$390 million), down 67.1 percent from a year ago. Revenue also declined 15 percent to 3.9 trillion won during the same period. By Lee Ji-yoon (jylee@heraldcorp.com)

July 26, 2016

Samsung Electro, LG Innotek bet big on dual camera demand

[THE INVESTOR] South Korea’s top two electronics parts makers -- Samsung Electro-Mechanics and LG Innotek -- are betting big on surging demand for dual-camera smartphones. The parts units of Samsung and LG have been somewhat struggling in recent months amid cost-cutting pressure from smartphone manufacturers in a saturated market. But as their clients are focusing more on premium features especially on cameras, their dual-camera module business are recently gaining a fresh momentum. LG G5 that f

July 26, 2016

Samsung Electro, LG Innotek bet big on dual camera demand

Chinese firms in fray to acquire ING Life

[THE INVESTOR] The binding bid for ING Life Insurance, launched by the nation’s largest private equity fund MBK Partners, will start early next month, industry sources said July 25. Morgan Stanley, the lead manager for the sale, has closed the preliminary bidding for the fifth largest life insurance firm in Korea, and will carry out the bidding for what is said to be the largest M&A deal in the first half of this year. One of the three Chinese companies, Hong Kong-based investment manager JD Cap

July 25, 2016

Chinese firms in fray to acquire ING Life

Samsung offers chip suppliers W15.2b incentives

[THE INVESTOR] Samsung Electronics said on July 25 it has paid out a combined 15.25 billion won (US$13.4 million) as incentives to the company’s 95 contractors supplying parts for its chip products. The incentives will be immediately distributed to some 10,000 workers working at the suppliers. Samsung offers two types of incentives to suppliers for improved productivity and safety measures. Since last year, the Korean tech giant is offering incentives twice a year to help boost the local economy

July 25, 2016

[INTERVIEW] Wolfgang’s steaks speak for themselves, says CEO

[THE INVESTOR] Wolfgang’s Steakhouse in Seoul is an unusually large restaurant, especially for the upscale Cheongdam-dong area of Seoul. Step inside, past the mahogany reception desk and the main dining hall seems to spread out endlessly, with countless tables covered in white tablecloths. Overhead, private dining rooms line the second floor. Peter Zwiener, head of Wolfgang’s Steakhouse / Wolfgang‘s Steakhouse“Our Seoul branch is about twice the size of some of our other restaurants,” said Peter

July 24, 2016

[INTERVIEW] Wolfgang’s steaks speak for themselves, says CEO

Korean retailers ride on ‘Pokemon Go’ craze

[THE INVESTOR] South Korean retailers are capitalizing on the explosive popularity of Nintendo’s augmented-reality mobile game “Pokémon Go” with new products and services targeting local Pokémon game enthusiasts and fans.From a sudden rise in consumer spending at select Pokémon-appearing cities in Korea to the launch of Pokémon-inspired hotels, tour packages and goods, the smash-hit game appears to be leaving a notable imprint on the local retail sector.“Pokémon Go,” produced jointly by Nintendo

July 24, 2016

Korean retailers ride on ‘Pokemon Go’ craze

Extension of trading hours to take effect on Aug. 1

[THE INVESTOR] Beginning Aug. 1, South Korea will extend its trading hours for its equities, derivatives, gold futures and foreign exchange markets to boost its financial market status in line with the Morgan Stanley Capital International standards.The Korea Exchange, the country’s quasi-sovereign stock market operator, said Sunday that the stock and bullion markets’ trading hours will be extended by 30 minutes, enabling investors to buy and sell them between 9 a.m. and 3:30 p.m. Foreign exchang

July 24, 2016

[INTERVIEW] 'Raise the stakes,' says Cambridge economist

[THE INVESTOR] JEJUDO ISLAND ㅡ To eke out a breakthrough in the current economic stalemate, Korean businesses and the country as a whole need to make bold choices about the future, embracing the risk of failure, Chang Ha-joon, the world-renowned Korean economist said. “The industries that form the backbone of Korea’s economy now came to be as such in the ’70s, ’80s or ’90s at the latest. While those industries are now facing difficulties, challenged by latecomers, Korea has failed to make the

July 24, 2016

[INTERVIEW] 'Raise the stakes,' says Cambridge economist

LG Display doubles 65-inch OLED panel production in Q2

[THE INVESTOR] LG Display, the display-making unit of LG Group, has almost doubled production of its 65-inch organic light-emitting diode panels in the second quarter as more TV manufacturers are adopting the larger OLED display. According to UBI Research, a local research firm specialized in OLED, the company shipped a combined140,000 OLED panels in the April-June period. Of them, the 65-inch panel made up 28,000 units, doubling from some 14,000 units in the first quarter. The increased shipmen

Technology July 20, 2016

LG Display doubles 65-inch OLED panel production in Q2

[DECODED: SAMSUNG] Samsung goes back to basics

[THE INVESTOR] Many start-ups want to be like Samsung. Ironically enough, Samsung wants to be like a start-up. And for the past few years, the nation’s largest conglomerate has been working hard to go back to basics. Some liken it to a patient lying on an operating table: Some of its affiliates are being removed like dead tissue, while others are being stitched back together, at times after receiving several blood transfusions. The head surgeon is Samsung Group vice chairman and heir Lee Jae-yo

July 18, 2016

[DECODED: SAMSUNG] Samsung goes back to basics

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