[THE INVESTOR] Asiana Airlines’ operating profit returned to the black in the second quarter of the year, while its net loss reduced by nearly 70 percent from a year ago.According to its preliminary consolidated earnings report, the company said operating profit came to 28.8 billion won (US$25.86 million), net loss to 26.7 billion won, and revenue to 1.37 trillion won. Compared to the same period last year, the company’s net loss was reduced by 68.77 percent, while revenue rose 4.07 percent. The

Aug. 4, 2016

[THE INVESTOR] A quick turnaround for South Korean economy is unlikely, a state-run think tank said on Aug. 4.In its monthly economic report, the Korea Development Institute said that although some domestic indicators are improving, the economy in general does not yet appear to be following a similar trend. Hyundai Heavy's shipyard.The KDI added that the ongoing corporate restructuring measures could hold back the rate of economic recovery in the short term. In addition, the improvements in serv

Aug. 4, 2016

[THE INVESTOR] South Korean research team has developed a cost-effective method for producing hydrogen from seaweeds, the Ministry of Science, ICT and Future Planning said on Aug. 4.According to the ministry, the Daegu University team led by professor Kim Sang-hyoun developed a method for using commonly found bacteria to produce hydrogen from seaweeds. The process uses microbes found in sewage treatment that breaks down galactose in seaweeds. The ministry said that unlike previous methods, Kim’s

Aug. 4, 2016

[THE INVESTOR] South Korean asset management companies’ dealings in overseas stocks have shrunk by nearly a quarter, due mainly to bearish Chinese markets, data showed on Aug. 4.According to the Korea Securities Depository, local asset management companies conducted 28,362 transactions involving overseas stocks during the first six months of the year. Compared to the same period last year, the figure is 22.85 percent lower. The data showed that transactions involving stocks listed in Hong Kong f

Aug. 4, 2016

[THE INVESTOR] The Fair Trade Commission is looking into allegations of price-fixing by international automobile shipping companies, the antitrust agency said Aug. 4. According to the FTC, a number of foreign shipping companies may have colluded to fix prices between 2008 and 2012. Companies under investigation include Japan’s Nippon Yusen, K Line, Mitsui O.S.K. Lines, Norwegian firm Wallenius Wilhelmsen Logistics and Chile’s CSA. Japanese shipping companies had received about 200 billion won (U

Aug. 4, 2016

[THE INVESTOR] The general consensus among foreign investment banks is that South Korea’s exports are unlikely to pick up in the second half of the year. Their projections, analyzed by the Korea Center for International Finance, is in contrast to those of government agencies that say the conditions are set to improve soon.In July, the country’s exports dropped 10.2 percent from a year ago, extending the record run of on-year monthly exports drop. According to the KCIF, foreign IBs have mostly fo

Aug. 4, 2016

[THE INVESTOR] Cha Biotech announced on Aug. 3 that it will collaborate with US-based Sorrento Therapeutics in developing immunotherapy. The research will be conducted by a joint venture between the two companies. Cha Biotech will hold 51 percent stake in the company. Under the agreement, the two companies will collaborate in splicing the gene for chimeric antigen receptor into natural killer cells. Chimeric antigen receptor or CAR are engineered to have specificity to selected proteins. Natural

Aug. 3, 2016

[THE INVESTOR] Gas and oil-related shares recorded an average drop of 1.87 percent on Aug. 3, weighed down by international crude prices reaching a four-month low. The drop was led by SK Innovation, whose shares fell 2.74 percent to close at 142,000 won (US$127).Of the KOSPI-traded companies working in oil and gas related fields, preferred GS stock was the only one to close higher, rising 0.31 percent to 32,600 won.Ordinary shares of GS, however, slid 0.32 percent to close at 47,250 won. GS runs

Aug. 3, 2016

[THE INVESTOR] Fluctuating crude prices will have limited effect on the stock markets, a local securities firm said in a report on Aug. 3. According to Yuanta Securities Korea, a sudden plunge in oil prices is unlikely, and that the recent drop is the result of seasonal drop in demand, oil producing nations’ price competition, and over supply.The company said that although oil prices were the deciding factor for stock markets last year, the situation this year is different saying that inflation

Aug. 3, 2016

[THE INVESTOR] With crude oil prices dropping to a four-month low, concerns are growing that South Korea could soon face deflation. Official data suggests that the country’s consumer prices have grown at worrying rates this year. According to Statistics Korea, July saw the lowest on-year increase in 10 months, coming in at 0.7 percent. With the July figure coming in at 0.7 percent, South Korea’s consumer price inflation came in at below 1 percent for the consecutive month. The statistics agency

Aug. 3, 2016

[THE INVESTOR] Hyundai Securities’ board of directors on Aug. 2 announced that the company will become a wholly owned subsidiary of KB Financial Group. Under the plans, which needs approval from the shareholders, Hyundai Securities will be absorbed into KB Financial group through a 1:0.1907312 stock swap. Hyundai Securities’ shareholders meeting is scheduled for Oct. 25, and the stock swap is scheduled for Nov. 9.The move is aimed at laying the foundation for merging Hyundai Securities with KB I

Aug. 3, 2016