[THE INVESTOR] The Korea Chamber of Commerce and Industry has no plans to submit a petition on presidential pardons for businesspeople, KCCI chairman Park Yong-maan said.KCCI chief Park Yong-maan delivers a speech at the KCCI JEju Forum in Jejudo Island on July 20.Speaking at a press conference on July 20, the KCCI and Doosan Infracore chief said that the corporate community is hoping for many businesspeople to be included in the Aug. 15 Liberation Day presidential pardon. However, hesaid that t

July 21, 2016

[THE INVESTOR] Han Sung Motor, Mercedes-Benz’s largest dealer in Korea, expects double-digit sales growth this year, the company’s chief said Friday at its annual motor show in Seoul. “The company’s sales figure in the first half rose around 10 percent year-on-year. The second half is expected to post better performance (than the first half) thanks to the launch of new E-Class,” said Han Sung Motor CEO Ulf Ausprung at its motor show held at the Sevit floating island on the Hangang River, which k

July 10, 2016

[THE INVESTOR] South Korea's automobile exports fell more than 13 percent in the first six months of the year, weighed down by falling demand from new emerging markets, data showed on July 10.South Korean carmakers shipped 1.33 million vehicles abroad during the first half of the year. The figure is 13.3 percent lower than that recorded during the same period last year earlier.  Automobiles set for export at a port in South Korea. The InvestorThe government said the decrease followed the sluggis

July 10, 2016

[THE INVESTOR] South Korea’s tourism deficit for the first five months of the year showed a year-on-year rise despite the government's efforts to boost the industry, central bank data showed on July 10.The tourism deficit for the period rose 1.3 percent from a year ago to come in at US$1.49 billion. The figure for the same period last year is US$1.47 billion, according to the Bank of Korea.South Koreans headed overseas line up at the Incheon International Aiport in this file photo from June. The

July 10, 2016

[THE INVESTOR] South Korea’s Seoul St. Mary’s Hospital and Stanford University are to collaborate in developing artificial intelligence-based cancer treatment. Seoul St. Mary's Hospital/ The InvestorThe two organizations signed a memorandum of understanding on cooperating in commercializing advanced medical technologies in Seoul on July 6. The two organizations will work together on developing radiotherapy using AI, cell treatments for ovarian, lymph and other cancers, and diagnostic equipment u

July 6, 2016

[THE INVESTOR] The government is pushing to enable IT companies to hold up to 50 percent stake in Internet banks as part of the plans to strengthen the service sector revealed on July 5. The government had attempted to make the same changes earlier, but failed due to resistance from the opposition bloc. Under current regulations, a nonfinancial company can hold only up to 10 percent of a bank. The revised bill submitted to the National Assembly on June 16 will allow nonfinancial companies to hol

July 5, 2016

[THE INVESTOR] Samsung Fire and Marine Insurance will sell its office in Euljiro, central Seoul, the firm announced on June 30. The company has decided to sell the building as it will now move into Samsung Group’s main office in southern Seoul. Samsung Group`s main officeIt plans to put the building up for sale in early July, and hopes to close the sale within the year. The 21-story building was built in 1987, and the going price is estimated to be between 370 billion won (US$ 320 million) and 4

June 30, 2016

[THE INVESTOR] Tech-heavy secondary bourse KOSDAQ’s market capitalization has increased 27-fold and daily transactions by nearly 1,500 times since its launch on July 1, 1996, data showed on June 30.According to Korea Exchange, the market capitalization of KOSDAQ stood at 206 trillion won (US$ 179 billion) on June 30. In comparison, the figure stood at 7.6 trillion won in its early days. Young Hyun Trading lists on KOSDAQThe value of daily trading has also soared over the years, going from 2.3 bi

June 30, 2016

[THE INVESTOR] Vogo Fund-led consortium will build a 150-billion won (US$129 million) agricultural and livestock goods wholesale market in Yangju, Gyeonggi Province. Vogo Fund is a South Korean private equity fund, and the consortium includes Dong-A Construction. Under the plans, approved on June 10, the consortium will invest 150 billion won in the northern Gyeonggi city to build a large wholesale market. The market will be equipped with retail stores, camping facilities and other convenience f

June 29, 2016