The Korea Herald

Panko to establish a fabric complex in Myanmar

[THE INVESTOR] South Korean clothing maker Panko will establish a large fabric industry complex in Myanmar, local and Myanmar media reported Aug. 26. According to reports, Panko will collaborate with Myanmar Olympus Asia Development Group in establishing a 202-hectare fabric industry complex. The project is estimated to cost between US$30 million and US$50 million, with the two companies being equal partners, reports said. The companies are reported to be searching for a suitable site, and plan

Aug. 26, 2016

Funds investing in bonds draw 10 trillion won in three months a

[THE INVESTOR] The amount of money held in funds investing in bonds broke the barrier of 110 trillion won (US$98.7 billion), the Korea Financial Investment Association said on Aug. 26. According to KFIA, the amount held in such products rose to 110.52 trillion won on Aug. 24. The amount held in products investing in bonds surpassed 100 trillion won on May 25, then increased by a further 10 trillion won in three months, the association said. The rapid rise is thought to have been fueled by invest

Aug. 26, 2016

Funds investing in bonds draw 10 trillion won in three months a

KOSDAQ-listed firms’ M&As more than double in H1

[THE INVESTOR] The number of actions taken for mergers and acquisitions by companies listed on the tech-laden KOSDAQ exchange more than doubled from a year ago, the Korea M&A Exchange said on Aug. 26. According to the Korea M&A Exchange, KOSDAQ-listed companies conducted 93 M&A deals during the first half of the year. The value of the deals came to over 2.4 trillion won (US$2.15 billion). In comparison, KOSDAQ-listed companies conducted 39 M&A deals with a combined value of about 1.12 trillion w

Aug. 26, 2016

KOSDAQ-listed firms’ M&As more than double in H1

S. Korean institutions invest record amount in foreign securities

[THE INVESTOR] South Korean institutional investors injected a record amount of funds into overseas securities this year, the Bank of Korea said Aug. 26.According to the central bank, South Korean institutional investors’ overseas securities portfolio stood at US$148.6 billion at the end of the first half. The figure was US$12.03 billion, or 8.8 percent, higher than that recorded at the end of the first quarter, and the highest on record. The BOK said that local insurance companies led the incre

Aug. 26, 2016

S. Korean institutions invest record amount in foreign securities

Vietnam rises as major export destination of S. Korea

[THE INVESTOR] South Korea’s exports to Vietnam are rising rapidly despite the record-long run of monthly exports decreases, data showed Aug. 25. According to the Korea International Trade Associations, Korea’s exports to Vietnam during the first seven months of the year came to US$18.02 billion, rising 10.1 percent from the same period last year. In comparison, Korea’s overall exports declined by 10.1 percent over the same period.Vietnam production line of South Korea's fashion design company H

Aug. 25, 2016

Vietnam rises as major export destination of S. Korea

LG, SK groups planning large bond issues

[THE INVESTOR] LG Group and SK Group companies are set to issue large amounts of corporate bonds within the year. Much of the funds raised will be used to cover maturing bonds, while companies with no maturing bonds are capitalizing in on the low interest rates, industry watchers say. According to data provider FnGuide, LG Group companies’ bonds maturing within the year have a combined value of 1.5 trillion won (US$1.34 billion), while the figure for SK Group companies stands at 2.1 trillion won

Aug. 25, 2016

LG, SK groups planning large bond issues

China-North Korea trade drops on sanctions, lack of foreign currency

[THE INVESTOR] China’s exports to North Korea showed the largest on-year drop in July, Korea International Trade Association said Aug. 24. According to KITA, China’s exports to North Korea came to US$193 million in July, plunging 27.6 percent from the same month last year. Last month’s decrease is the biggest drop in China’s exports to North Korea this year. North Korea's leader Kim Jung-unAlong with exports, China’s imports from North Korea also dropped by 5 percent from a year ago to come in

Aug. 25, 2016

China-North Korea trade drops on sanctions, lack of foreign currency

Hyundai Motor, union reach tentative agreement in wages talks

[THE INVESTOR] Hyundai Motor and its union reached a tentative agreement in this year’s wages negotiations on Aug. 24. The union will vote on the agreed terms on Aug. 26. The terms include raising the basic monthly wages by 58,000 won (US$ 51.74), a 350 percent bonus and 3.3 million won incentive, 200,000 won voucher for traditional markets, and 10 Hyundai Motor shares. Hyundai Motor closed at 135,500 won on Aug. 24, up 3,000 won from the previous day. Hyundai Motor headquaters in SeoulThe unio

Aug. 25, 2016

Hyundai Motor, union reach tentative agreement in wages talks

S. Korean insurers’ RBC ratio rises for second consecutive quarter

[THE INVESTOR] South Korean insurance companies’ rick-based capital ratio increased for the second consecutive quarter, data showed Aug. 24.According to the Financial Supervisory Service, the average RBC ratio of local insurers came to 288 percent at the end of the second quarter, up 14.1 percent from the previous three-month period. The average RBC ratio of local insurers had been declining since September 2014, when it stood at 305.7 percent. However, the average began to pick up this year, ri

Aug. 24, 2016

Hyundai Life and Heungkuk Fire’s RBC ratios lowest in industry

[THE INVESTOR] Hyundai Life Insurance and Heungkuk Fire & Marine Insurance have the lowest risk-based capital ratio among South Korean life and nonlife insurers, government data showed Aug. 24. According to the Financial Supervisory Service, Hyundai Life’s RBC ratio came in at 179 percent at the end of June. Although the figure is 5.3 percentage points higher than that recorded at the end of March, it was the lowest among the 25 life insurance companies operating in Korea.As for Heungkuk Fire an

Aug. 24, 2016

POSCO chief rules out use of business revitalization act

[THE INVESTOR] POSCO has no plans to capitalize on the new law facilitating business restructuring, the company’s CEO said Aug. 24. Speaking at the Steel Korea conference held in Seoul, POSCO CEO Kwon Oh-joon said that the company is carrying out restructuring regardless of the new act. The Special Act of Corporate Revitalization act came into force on Aug. 13 and allows companies working in industries with oversupply problems to alter their business portfolio more easily. “(The company) has no

Aug. 24, 2016

POSCO chief rules out use of business revitalization act

S. Korea’s intellectual property trade deficit narrows in Q1

[THE INVESTOR] South Korea trade deficit from intellectual property rights came to US$780 million in the first quarter of the year, down US$410 million from the previous quarter, Bank of Korea announced Aug. 24.The central bank’s tentative intellectual property trade balance showed that South Korean exports came to US$2.8 billion, while imports came to US$3.58 billion in the first three months of the year. By category, deficits regarding patents and utility model were the highest at US$630 milli

Aug. 24, 2016

KEPCO’s venture posts losses from the get-go

[THE INVESTOR] State-run electricity provider Korea Electric Power Corp..’s gasification joint venture has built up over 5.4 billion won (US$4.81 million) in operating loss since 2011, a National Assembly Budget Office report shows. According to the report, KEPCO-UHDE, a joint venture established with Germany’s ThyssenKrupp Industrial Solutions, has posted annual operating losses ranging between 492 million won and 1.77 billion won. During the period, the company’s net deficit ranged from 277 mi

Aug. 24, 2016

State power companies’ profits soar on higher charges, lower fuel costs

[THE INVESTOR] The operating profits of state-run power companies have increased 841 percent in two years, data showed on Aug. 24. The seven companies are Korea Electric Power Corp., Korea South-East Power, Korea Western Power, Korea East-West Power, Korea Midland Power, Korea Southern Power and KEPCO KPS. According to market researcher CEO Score, the seven state-run power companies’ first-half operating profits came to over 4.23 trillion won (US$3.77 billion) and net profits to 3.92 trillion wo

Aug. 24, 2016

S. Korea sets up hydrogen power organization

[THE INVESTOR] A government-private sector body for facilitating the spread of hydrogen energy was launched Aug. 24.State organizations taking part in the newly formed body include the Ministry of Trade, Industry and Energy and Ministry of Environment, and the governments of Ulsan, Gwangju and South Chungcheong Province. From the private sector, makers of hydrogen cars and parts and companies involved in hydrogen production and distribution have joined the organization. Those involved in the org

Aug. 24, 2016

Articles by 최희석