[THE INVESTOR] South Korean share prices started the morning on a bearish note following an overnight plunge in crude oil prices. On Aug. 3, the benchmark KOSPI opened half a point lower than the previous day, and at one point fell below the 2,000 mark for the first time since July 14 when it ended at 1997.94 points. The tech-heavy KOSDAQ declined to below 700 points. As of 9:50 a.m., the KOSPI traded at 1995.03 points, 1.19 percent lower. The index recovered some ground as th

Aug. 3, 2016

[THE INVESTOR] The South Korean prosecution is looking into allegations of tax evasions against Lotte Group founder Shin Kyuk-ho, according to prosecutors on Aug. 3.The team at the Supreme Prosecutors’ Office investigating Lotte affairs is reportedly reviewing documents it attained from a local law firm outlining the related allegations. Lotte founder Shin Kyuk-ho.Investigators suspect that the 94-year-old tycoon attempted to or has evaded taxes when he bequeathed parts of his assets to his thir

Aug. 3, 2016

[THE INVESTOR] The 17.8 billion won (US$15.98 million) penalty slapped on Audi Volkswagen Korea has come under fire for the amount, which fell far short of the initially envisioned 300 billion won.The figure also compares with the US$15 billion settlement VW reached in the US. The fine was imposed on 80 models manufactured by VW for tampering with the certification papers involving emission only. The papers for noise levels were also rigged, but were not within the scope of current laws. An

Aug. 2, 2016

[THE INVESTOR] The prosecution on July 29 indicted a senior prosecutor and the co-founder of South Korea’s biggest online gaming company Nexon over alleged bribery and shady stock transactions, ending a monthlong probe into the high-profile corruption scandal. It also requested that the Justice Ministry dismiss the disgraced prosecutor, a sanction which will cut down his pension by 25 percent and ban him from opening a law office for three years.Nexon's Kim Jung-ju (left), prosecutor Jin Kyung-j

July 29, 2016

[THE INVESTOR] LG Household & Health Care has attained record-high earnings in the second quarter, and for the first six months of this year. But that’s not all. The comestics and household goods maker’s quarterly sales have been on the rise since the third quarter of 2005. In terms of sales, the second quarter marks the 44th straight increase, and the 45th quarter for operating profit. Both sales and operating profit have risen for 11 straight years. The steady growth is triggering speculation

July 27, 2016

[THE INVESTOR] Shin Young-ja, Lotte Group founder Shin Kyuk-ho’s daughter, has been indicted on charges of embezzlement and breach of trust, the Seoul Prosecutors’ Office said July 26. The prosecution has requested a court order on Shin to expropriate 3.5 billion won (US$3.08 million) worth of her assets in the amount that she received as bribes. Lotte founder's daughter Shin Young-ja (second from right).Earlier this month, the 74-year-old head of Lotte Foundation became the first member of the

July 26, 2016

[THE INVESTOR] Disgraced Nexon founder Kim Jung-ju is unlikely to avoid a jail term if the prosecution gets its way. But the severity of the penalties remain to be seen as the statute for limitations have expired on most of the major charges against him. The bribery allegations involving the Nexon stocks Kim indirectly offered Jin expired. But the authorities are now questioning the business tycoon on other gifts he provided immediately or before 2010, which is within the statute of limitations.

July 25, 2016

[THE INVESTOR] Korean news outlet NewsTapa reported on July 21 that Samsung Group chairman Lee Kun-hee has been paying for sex for years.NewsTapa aired video clips showing a group of women enter a house in southern Seoul where the chairman is waiting. The dialogue between Lee and the women indicates that illegal sexual services were provided. The women are also shown accepting envelopes from Lee that allegedly contained 5 million won (US$4,400) each. Samsung Group chairman Lee Kun-hee (center).F

Companies July 22, 2016

[THE INVESTOR] Doosan Group chairman Park Jeong-won has proved that his worth as a corporate leader goes beyond his pedigree as a member of the founding family.Under Park’s guidance, Doosan -- once struggling from deteriorating market conditions and inefficiency issues -- has managed to make a complete turnaround this year, celebrating the end of the second quarter with solid earnings. The net profit of Doosan’s three core businesses -- Doosan Corp., Doosan Heavy Industries & Construction and Do

July 19, 2016

[INVESTOR INSIGHT] I don’t know too much about entrepreneurs. At least, I've never met any from a close distance. The ones I know, I have read about in the media, or maybe met for interviews. But one thing I do know about them is that they don’t follow the trend. They buck it, and they create new ones. The ideas, technology and innovation they bring to our lives possess a force powerful enough to entirely reshape certain facets of our lives. Kim Jung-ju is one such entrepreneur who had a good id

July 18, 2016

[THE INVESTOR] Kim Jung-ju seemed to have it all.The 48-year-old tech tycoon was born with a silver spoon in his mouth; his father was a lawyer and his mother majored in piano at the nation’s top university, Seoul National University -- coincidentally Kim’s alma mater too. In the ’80s, when personal computers were still a rarity, Kim had the luxury of owning one. While tinkering on it, he decided to become an engineer of a sort.NXC chairman Kim Jung-ju attends prosecutor's office / The InvestorA

July 18, 2016

[THE INVESTOR] South Korean mobile game developer Netmarble Games’ recent bid to acquire Israel-based mobile gaming company Playtika is just one of a string of merger and acquisition deals that Netmarble has been pursuing to attract investors. By the end of this year, Netmarble Games is set to issue an initial public offering to draw at least 5 trillion won (US$ 4.36 billion). Based in Tel Aviv, Playtika is an affiliate of Caesars Interactive Entertainment -- an SNS-based casino game developer t

July 14, 2016

[THE INVESTOR] Reigning budget carrier Jeju Air is in trouble.In the first quarter of this year, its key rival Jin Air beat it by a close margin -- just 5,000 passengers -- to become the No.1 in the industry in terms of passengers, according to Korea Airports Corp. data on July 13. Jeju Air did manage to retrieve the title in the second quarter, and also recorded the most number of passengers for H1. But this is not just a battle of the airliners. It’s a game of wits and perseverance between two

July 13, 2016

[THE INVESTOR] South Korean prosecutors on July 12 raided Nexon’s headquarters and home of founder Kim Jung-ju who is currently under fire for allegedly providing gifts to a senior prosecutor. An ad hoc probe team investigating the case also searched the home of the prosecutor, Jin Kyung-joon, who is Kim’s college friend. Jin is suspected of raking in illegal profit from Nexon shares. Kim Jung-juEarlier this year, the senior prosecutor reported a significant increase in his personal wealth in 20

July 12, 2016

[THE INVESTOR] AmorePacific Group chairman Suh Kyung-bae is dipping into his own pockets to establish a public interest foundation, the cosmetics company said on July 11. The foundation, tentatively named the “Suh Kyung-bae Science Foundation,” will be launched in September, according to those close to the organizers.   Suh Kung-baeThe main aim will be to fund the research of up-and-coming scientists in new and creative fields, AmorePacific said. The launch date has been set for September, and d

July 11, 2016