The Korea Herald

Brexit presents opportunity for Hyundai, Kia

[THE INVESTOR] Korean carmakers could gain an edge over Japanese carmakers in the European market following UK’s leaving the European Union. From 2018, Korean carmakers’ vehicles exported to the UK will be subjected to tariffs, giving Japanese vehicles produced in the UK an edge in pricing. Hyundai Motor's Tuscon.On the much larger European market, however, Korean firms’ vehicles will gain an edge over Japanese vehicles. Unlike Japanese carmakers that have facilities in the UK, Hyundai Motor and

June 24, 2016

Brexit presents opportunity for Hyundai, Kia

[URGENT] Gov’t to roll out Brexit response measures

[THE INVESTOR] Vice Minister of Strategy and Finance Choi Sang-mok said on June 24 that economy related government bodies will launch a team for responding to Brexit.At the emergency meeting of economic and financial authorities on concerns at the UK’s exit from the European Union, Choi said that the government will use all means possible to minimize the impact on the Korean economy. However, Choi said that Korea’s large foreign reserves and trade surplus will help it weather the effects of Brex

June 24, 2016

[URGENT] Korea to monitor Brexit impact round-the-clock:Finance Minister

[THE INVESTOR] Deputy Prime Minister for economic affairs Yoo Il-ho said on June 24 that the government will monitor the impact of Brexit round-the-clock.The official said the pan-government response system will be initiated and the situation will be continuously monitored. Yoo was speaking from Beijing where he is attending a meeting of the Asian Infrastructure Investment Bank. Finance minster Yoo Il-ho(right). Park Hae-mook/The investorSaying that UK’s departure from the European Union would

June 24, 2016

[URGENT] Korea to monitor Brexit impact round-the-clock:Finance Minister

[URGENT] Korea Gov’t, ruling party to hold Brexit meeting

Officials from the ruling Saenuri Party and the government of South Korea will convene a meeting regarding Britain's exit from the European Union at 4 p.m. on June 24.

June 24, 2016

[URGENT] Korea well prepared for Brexit shock: vice FM

[THE INVESTOR] Vice Minister of Strategy and Finance Choi Sang-mok said that Korea’s large foreign reserves and trade surplus will help it weather the effects of UK leaving the European Union. "We are well prepared," Choi told an emergency meeting of economy-related government bodies on June 24. He also said UK’s departure may increase uncertainties in the international market, but that the impact on Korea will be comparatively small. By Choi He-suk (cheesuk@heraldcorp.com)

June 24, 2016

[URGENT] BOK to hold forex meeting

[THE INVESTOR] Bank of Korea’s foreign exchange team will hold a meeting at 2 p.m.The meeting was initially scheduled for 3 p.m., but was pushed forward due to the increasingly likelihood of the UK leaving the European Union, the central bank said. BOK officials will discuss ways to stabilize the country’s forex market should it show larger fluctuations due to Brexit. By Choi He-suk (cheesuk@heraldcorp.com)

June 24, 2016

CJ Group siblings sued by half-sibling

[THE INVESTOR] CJ Group chairman Lee Jae-hyun is being sued by a half-sibling born to his father out of wedlock, Seoul Central District Court revealed on June 23. The plaintiff was born to late CJ Group honorary chairman Lee Maeng-hee and an actress in 1964. He filed a paternity suit in 2004 and was confirmed as Lee Maeng-hee’s offspring. Late CJ Group honorary chairman Lee Maeng-hee.The latest suit seeks compensation of 210 million won (US$182,000), claiming that the plaintiff was barred by th

June 23, 2016

Kumho Asiana chief takes first win in battle with brother

[THE INVESTOR] The first round of the legal battle between Kumho companies has gone to Kumho Asiana Group chairman Park Sam-koo.On June 23, the Seoul Central District Court sided with Park in the civil suit brought by his brother Park Chan-koo’s Kumho Petrochemical.Kumho Petrochemical had filed a suit against Park and former Kumho E&C chief Kee Ock claiming that the two were behind the sale of Kumho Industrial’s commercial papers in 2009. The firm claims that the two orchestrated the sale of the

June 23, 2016

Kumho Asiana chief takes first win in battle with brother

Kakao’s games subsidiary to take controlling stake in Roi Games

[THE INVESTOR] Kakao’s games affiliate NZIN announced on June 23 that it will buy 40.1 percent of Roi Games for 6 billion won (US$5.2 million).The investment will make NZIN the largest shareholder of the Korean games maker. With the stock purchase, NZIN will gain publishing rights to Roi Games’ upcoming releases.NZIN is 29.42 percent held by Kakao, and 45.4 percent by Kakao’s investment subsidiary K Venture Group. By Choi He-suk (cheesuk@heraldcorp.com)

June 23, 2016

Kakao’s games subsidiary to take controlling stake in Roi Games

5 Korean banks named market maker in won-yuan trade

[THE INVESTOR] Five Korean banks and their Chinese branches have been included among the 14 market makers for won-yuan direct trading market, the Ministry of Strategy and Finance announced on June 21. This is the first time Korean banks have been named market makers in China’s foreign exchange market. pixabay.comThe five Korean entities are Woori Bank, KEB Hana Bank’s Chinese operations, KB Kookmin Bank, Shinhan Bank and Kore Development Bank’s Shanghai branch. Other banks included in the list

June 21, 2016

5 Korean banks named market maker in won-yuan trade

Samsung Heavy workers’ to vote on strike

[THE INVESTOR] Samsung Heavy Industries workers are to vote on whether to stage strike next week, feeding concerns for the country’s ailing shipbuilding industry.Samsung Heavy’s labor group said on June 21 that it will inform the authorities of labor dispute at the company on June 22, and put the strike to the vote next week. Under local regulations, a labor group must first formally declare that industrial dispute has occurred before any action can be put to the vote. Unlike Hyundai Heavy Indus

June 21, 2016

NXC chairman to be questioned by prosecutors

[THE INVESTOR] Kim Jung-ju of NXC Inc., the holding firm of games maker Nexon, is to be questioned by the authorities in connection with the scandal surrounding senior prosecutor Jin Kyung-jun.According to the Seoul Central District Prosecutors’ Office, Kim will be summoned for questioning, and his lawyers are currently working out a schedule. The prosecution said that they do not have evidence of any wrongdoing on Kim’s part, and that the NXC chairman will be questioned as a witness. Kim Jung-

June 20, 2016

NXC chairman to be questioned by prosecutors

Corporate tax hike shapes up as divisive issue

[THE INVESTOR] Whether to increase corporate taxes is shaping up as a key issue of contention between major political parties in the new parliament that began its inaugural session Monday.The chief policymaker of the liberal main opposition Minjoo Party of Korea last week reaffirmed the party would soon submit a tax code revision bill to raise the maximum corporate tax rate, which would be applied to companies with annual profits exceeding 50 billion won ($42.6 million), to 25 percent from the c

June 13, 2016

Corporate tax hike shapes up as divisive issue

표범에 등 돌린 사육사… '반전'

검은 표범이 등을 돌린 사육사를 사냥하는 영상이 화제다. 영상은 한 마리 표범이 사냥감에 다가가듯이 조심스레 사육사에게 다가가는 모습을 보여준다. 가까이 다가간 표범은 곧 사육사를 덮치지만, 남성은 익숙한 일인 듯 표범을 밀쳐내고 얼굴을 내밀어 표범과 친근함을 표시하기까지 한다. 표범이 사람을 해치는 듯한 이 영상은 실제로는 사육된 표범이 사육사와 장난을 치는 것. 영상은 ‘검은 재규어 백호 재단 (Black Jaguar and White Tiger Foundation)’이라는 비영리재단이 SNS에 올리면서 화제가 된 바 있다. 재단은 멕시코에서 애완동물로 사육되는 맹수를 구출해 재단이 운영하는 보호구역에서 사육하고 있다. 영상에 등장하는 맹수는 씨에로(Cielo)라는 이름의 검은 표범으로 새끼 때부터 재단에서 사육해 온 것으로 알려졌다. (khnews@heraldcorp.com)　

한국어판 June 8, 2016

(한글판) ‘왕좌의 게임’ 옥의 티, ‘너무하네’

우리나라에서도 자체시청률 기록을 깨며 인기를 얻는 HBO드라마 ‘왕좌의 게임’의 한 캐릭터가 현대식 손목시계를 차고 등장한 모습이 포착돼 화제다. 　일부 해외네티즌들에게 극 중 피터 베일리시 (에이든 길렌분)이 현재 방영되고 있는 시즌6의 4화에서 손목시계를 찬 모습을 포착해 인터넷상에서 화제가 된 것. 　포착된 장면을 살펴보면 캐릭터의 왼쪽 손목에 손목시계가 옷소매 밑으로 나와 화면에 잡힌 것을 확인할 수 있다. 　이에 해외네티즌들은 ‘시간 여행자냐?’ ‘(극의) 배경이 중세 같지만 생각보다 높은 기술력을 가진 민족’이라는 등의 댓글로 제작진의 실수를 조롱하고 있다. 　　

한국어판 June 8, 2016

Articles by Choi He-suk