[THE INVESTOR] Samsung Electronics chairman Lee Kun-hee and his wife Hong Ra-hee’s stock assets have risen more than 1.6 trillion won (US$ 1.44 billion) this year, industry data showed on July 31. According to Chaebul.com, a website specializing in South Korean conglomerates, the value of the stock’s in Lee’ portfolio jumped 1.26 trillion won, while that of Hong rose 361.7 billion won since the beginning of the year.  Samsung Electronics chairman Lee Kun-hee (center) with his wife Hong Ra-hee (r

July 31, 2016

[THE INVESTOR] South Korean state-run pension funds will direct more of their investments overseas, they announced on July 29. According to their plans, the National Pension Service and the Government Employee Pension Service will raise the proportion of their investments accounted for by 2 to 3 percentage points in 2017. The proportion of the National Pension Service’s investments accounted for by overseas and alternative investments will be raised to 31.3 percent next year from the current 28.

July 29, 2016

[THE INVESTOR] The South Korean economy grew by less than 1 percent for the third straight quarter, raising concerns of a prolonged slowdown. According to the Bank of Korea, the country’s gross domestic product for the second quarter of the year came to 375.04 trillion won (US$327.99 billion), growing 0.7 percent from the previous quarter. In comparison, the country’s GDP recorded a 0.5 percent quarter-on-quarter growth during the first three months of the year. The figure for the final quarter

July 26, 2016

[THE INVESTOR] Shin Young-ja, daughter of Lotte Group founder Shin Kyuk-ho and head of Lotte Foundation, is to be indicted on charges of bribery and embezzlement. Shin Young-jaAccording to reports, the Seoul Central District Prosecutors’ Office has concluded that allegations against Shin are concrete, and decided to indict the 74 year old and keep her in custody on July 25. She was taken into custody on July 7, and must be released on July 26 if she is not indicted. Shin allegedly received 3 bil

July 22, 2016

[THE INVESTOR] CJ Group chairman Lee Jay-hyun has been granted another three-month stay on his prison sentence.The Seoul Central District Prosecutors Office said on July 22 that Lee’s sentence will be stayed for further three months in light of his critical health condition.  CJ Group chairman Lee Jay=hyunLee had been appealing the 32-month sentence for embezzlement and tax evasion charges. However, his legal team dropped the reappeal on July 19, on grounds that Lee’s health did not allow for a

July 22, 2016

[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] CJ Group chairman Lee Jay-hyun has decided to drop the reappeal in his embezzlement case in an apparent bid to be included in the special presidential pardon. According to reports citing CJ Group officials, Lee’s defense team will drop the case on July 19. On July 11, President Park Geun-hye said that special presidential pardons will be granted to coincide with the Aug. 15 Liberation Day. Her comments regarding the need for a “revival” has fueled speculations that businesspeople

July 19, 2016

[THE INVESTOR] Lee Jay-hwi, CJ Group chairman Lee Jay-hyun’s half-brother, on July 12 petitioned the Supreme Court to judge the latter sternly.Jay-hwi is late CJ Group honorary chairman Lee Maeng-hee’s son born out of wedlock. His paternity was confirmed after he filed a suit in 2004. In the petition, Jay-hwi urged the court to consider Jay-hyun’s case carefully, and requested that the court reject the latter’s application to remain free from prison longer to receive treatment.  CJ Group chairma

July 13, 2016

[THE INVESTOR] The legal battle between Kumho companies continues with Kumho Petrochemical appealing the court decision that sided with Kumho Asiana Group. According to industry sources, Park Chan-koo’s Kumho Petrochemical filed an appeal against his brother Kumho Asiana Group chairman Park Sam-koo and former Kumho E&C chief Kee Ock.In the suit, Kumho Petrochemical accused Park Sam-koo and Kee of being behind the sale of Kumho Industrial’s commercial papers in 2009. Park Sam-koo(left) and his br

July 12, 2016

[THE INVESTOR] President Park Geun-hye’s plans to issue special presidential pardons is sparking speculation that top executives of some of South Korea’s largest conglomerates may be freed.While fueling hopes for some, the move is also raising concerns that Park may be following her predecessors in being lenient toward corporate crimes. Hanwha Group chairman Kim Seung-youn looks around Hanwha Q CELLS’facility. Kim is currently on a suspended sentence for dereliction of duty.On July 11, the presi

July 11, 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