[THE INVESTOR] Ssangyong Motor is likely to be the most affected in sales by the increased public concern over diesel vehicle’s impact on air pollution, as well as the government’s push to curb diesel-fueled cars as part of measures to counter fine dust in the country, local news reported on June 28. From January to May this year, a total of 40,946 cars were sold by Ssangyong Motor, the Korean unit of Indian auto giant Mahindra & Mahindra. Among them, 31,237 units, or 76.3 percent, were diesel-f

Mobility June 29, 2016

[THE INVESTOR] In wake of Britain’s decision to leave the European Union, some Korean pharmaceutical companies are concerned about the fallout that will affect their business in Europe. Some industry officials said the Brexit’s impact on Korean pharma companies will not be as severe as they already have a large domestic market. However, for some companies that have already entered Europe or are waiting to do so, including Celltrion and Samsung Bioepis, it can take some toll on them. Both Celltri

Industry June 29, 2016

[THE INVESTOR] A growing number of Chinese IT companies are investing in Korean entertainment companies, in response to the rising popularity of Korean culture and entertainment. Chinese companies poured in more than 100 billion won (US$ 85.3 million) in the local entertainment industry from November last year to June this year, industry sources say. Chinese game developer Kunlun Technology’s Korean office is mulling to invest in a midsized entertainment agency, local news reported on June 28. I

Industry June 29, 2016

[THE INVESTOR] A June 28 deadline for deciding next year’s minimum wage is unlikely to be met as labor groups and business representatives have failed to reach a consensus. The Minimum Wage Council -- consisting of business and labor representatives and government officials -- has held plenary sessions for three months since March 30 to set next year’s minimum wage. However, the parties were unable to narrow down their differences even at their last session on June 27, local news reported. Labor

Industry June 28, 2016

[THE INVESTOR] Asiana Airlines is under fire for allowing passengers to board a repaired jet that caught on fire earlier, local news reported on June 28. Asiana Airlines flight OZ222 from JFK Airport in New York City to Seoul was getting ready to take-off in two hours when its engine caught on fire at 11:30 a.m. on June 24 (local time). The air carrier immediately called the fire station to extinguish the flames. It investigated the cause and repaired the craft with officials of Airbus, the manu

Industry June 28, 2016

[THE INVESTOR] Despite the recent expansion of the imported car market in South Korea, sales did not grow so fast. A total of 1.01 million imported cars were sold from January 2010 to May 2016, according to the Korea Automobile Importers and Distributors Association on June 26.But among them, only 41,466 units, or 4 percent, were eco-friendly vehicles. Out of the 26 carmakers selling imported cars, 15 did not sell eco-friendly cars at all.Only 0.4 percent of sales from BMW, the No.1 seller here,

Mobility June 28, 2016

[THE INVESTOR] Prosecutors will soon summon Park Dong-hoon, former head of Audi Volkswagen Korea, to question him over the automaker’s emissions scandal, local news reported. Park, who is currently the chief executive of Renault Samsung, headed Volkswagen Korea from its initiation in 2005 to 2013 until he moved to Renault Samsung. Former head of Audi Volkswagen Korea Park Dong-hoon.  He is now the CEO of Renault Samsung.Prosecutors have found out that Audi Volkswagen Korea manipulated documents

Mobility June 27, 2016

[THE INVESTOR] South Korea’s major automakers are seeking to expand their eco-friendly vehicles to other countries around the world this year, local news reported on June 26. Hyundai Motor plans to sell Ioniq Hybrid in the US and European markets in the second half of this year. Hyundai’s latest green car boasts a fuel efficiency of 22.4 km per liter, which is likely to compete with Toyota Prius, the market leader of hybrid vehicles. Ioniq Electric, the automaker’s first electric vehicle in the

Mobility June 27, 2016

[THE INVESTOR] Real estate trust company Korea Asset In Trust is set to go public on Korea’s benchmark KOSPI on July 13. “Through the initial public offering, the company will go beyond real estate trust business and become the No.1 real estate and finance company,” Kim Kyu-chul head of KAIT said at a press conference in Yeouido, Seoul, on June 24. Established in 2001, KAIT is the market leader in real estate trust companies in Korea. In the first quarter this year, the company recorded operatin

June 24, 2016

[THE INVESTOR] Korean pharma company Cell Biotech renewed its halal certification for probiotic products from the Korea Muslim Federation, the company said on June 24. The company has received the approval for 13 years in a row since 2004.  Cell Biotech“Through the halal certificate, we have been able to import probiotics products to Southeast Asia’s largest Muslim country Indonesia and also Malaysia and Singapore,” a company official said. “From 2000, we have also passed kosher certification.”B

Industry June 24, 2016

[THE INVESTOR] Hanjin Shipping sold 60 billion won (US$51 million) worth of operating rights on Southeast Asian routes to its affiliate in order to secure liquidity, local news reported on June 24. Citing an official from the shipping industry, the shipper sold part of its rights to Hanjin Transportation, which runs the land transport service under Hanjin Group, during an emergency meeting of the board. The move came after the government and creditors, led by state-run Korea Development Bank, pu

Industry June 24, 2016

[THE INVESTOR] Tech giant Samsung Electronics will help local start-ups and designers with mobile phone related ideas into business opportunities, the company said on June 24.  SamsungThe company will hold a program titled “Creative Square,” inviting start-ups, students, future entrepreneurs and designers to participate. When chosen as a partner, the selected parties will receive up to 100 million won (US$86,349) of funds to design. They can also use the research and design facilities at Samsung

June 24, 2016

[THE INVESTOR] On news that ailing Hyundai Merchant Marine is likely to join the prestigious vessel-sharing 2M Alliance, all the attention is now focused on its bigger local rival Hanjin Shipping, to see whether the shipper can normalize its business to stave off bankruptcy. Hanjin Shipping, which joined a new alliance named The Alliance in May along with five shippers including Germany’s Hapag-Lloyd, Japan’s Nippon Yusen Kaisha and Taiwan’s Yang Ming, took the early lead on the industry-wide re

Industry June 24, 2016