[THE INVESTOR] Samsung Electronics is recalling all Galaxy Note 7 phones sold globally, exchanging the phones with new ones regardless of battery functions. The Korean tech giant announced the plan on Sept. 2 in Seoul after a series of battery explosions since the phone's launch on Aug. 2. About 1 million units have been sold globally. The company said it has found 24 phones with faulty batteries in its recent investigation into the explosions. By Lee Ji-yoon (jylee@heraldcorp.com) 

Sept. 2, 2016

[THE INVESTOR] Samsung Electronics will hold an urgent press meeting in Seoul at 5 p.m. (local time) on Sept. 2 to issue a recall of the company’s latest Galaxy Note 7 smartphone. The company said mobile chief and President Koh Dong-jin will explain the exact cause of exploding batteries along with a detailed recall plan. Samsung Electronics mobile chief Koh Dong-jinSamsung has halted the phone’s shipments since early this week following a series of reports on the phone’s explosion while chargin

Sept. 2, 2016

[THE INVESTOR] MBK Partners, the nation’s largest private equity fund, is seeking to create a new fund worth up to 4 trillion won (US$3.6 billion), Korea Economic Daily reported on Sept. 2. The new funding -- the fourth of its kind -- comes after the third one worth 3 trillion won was created in 2013. MBK Partners Chairman Kim Byung-jooThe newspaper reported that MBK’s top executives, including Chairman Kim Byung-joo, are contacting foreign limited partners to raise capital. The company declined

Sept. 2, 2016

[THE INVESTOR] Samsung Electronics has decided to delay the Europe launch of its latest smartphone Galaxy Note 7 amid growing concerns about exploding batteries. The Korean tech giant had planned to launch the new Note phone in European countries such as the UK and France on Sept. 2. But the plan has been suspended as the company is considering recalling all the phones sold globally after a series of explosion reports possibly due to faulty batteries. Samsung had pinned high hopes on the Europe

Sept. 2, 2016

[THE INVESTOR] Samsung Electronics is considering recalling all Galaxy Note 7 smartphones sold globally after a series of explosion reports, possibly due to faulty batteries. Since its launch on Aug. 19, some 400,000 preorders have been made in Korea alone. About 1 million units are estimated to have been sold globally.A detailed recall plan is expected to be announced over the weekend or early next week. Earlier news reports said the company was considering free battery exchange rather than ref

Sept. 2, 2016

[THE INVESTOR] Samsung Electronics is considering a recall on its latest smartphone Galaxy Note 7 after a series of explosion reports possibly due to faulty batteries. Since its Aug. 19 launch, some 400,000 units of the phone have been sold in Korea alone. According to industry sources on Sept. 1, the Korean tech giant plans to announce a more detailed recall plan, including free battery exchange, on Sept. 2. The company is reportedly not considering refunds or exchange with a new phone. There h

Sept. 1, 2016

[THE INVESTOR]  Shares of Samsung SDI, the battery supplier of Samsung Electronics’ latest Galaxy Note 7 smartphone, plunged on Sept. 1 amid speculation that its faulty batteries may have caused a series of explosions on the phone. The stock, which continued rallying in recent weeks on the upbeat sales of the new Samsung phone, closed at 108,500 won (US$96) per share, down 6.06 percent from the previous trading day. Shares of Samsung Electronics and Samsung Electro-Mechanics, the parts unit, als

Sept. 1, 2016

[THE INVESTOR] Samsung Electronics plans to go ahead with the planned launch of its latest Galaxy Note 7 smartphone in China amid growing concerns about the phone’s allegedly faulty batteries on its home turf. The company will start sales of the big-screen Note 7 in China, the world’s largest smartphone market, from 11 p.m. on Sept. 1. Samsung Electronics mobile business chief Koh Dong-jinAfter a series of reports on the phone’s explosion, Samsung has tentatively concluded that some of the defec

Sept. 1, 2016

[THE INVESTOR] Samsung Electronics is considering recalling its latest smartphone Galaxy Note 7 amid a series of reports on the phone’s explosion possibly due to faulty batteries. According to Chosun Ilbo on Sept. 1, the company plans to offer free battery exchange for all customers but is said not to be considering a refund or exchange with a new phone.  Since the launch on Aug. 19, more than 400,000 units have been sold in Korea alone. Samsung Galaxy Note 7The company has already suspended shi

Sept. 1, 2016

[THE INVESTOR] Samsung Electronics has suspended shipments of its latest smartphone Galaxy Note 7 to local telecom carriers after a series of reports on the phone’s explosion, a local news outlet reported on Aug. 31. According to Yonhap News Agency, the Korean tech giant has suspended the phone’s shipments since early this week even though the exact cause of the decision has not yet been confirmed. Samsung Electronics mobile chief Koh Dong-jin.“Samsung has stopped supplying the phones even thoug

Aug. 31, 2016

[THE INVESTOR] POSCO Chairman Kwon Oh-joon on Aug. 31 pledged that the nation’s No. 1 steelmaker will speed up the ongoing restructuring process to substantially complete it by March next year, when his term expires. After the revamp, he hinted at new investments to produce more lucrative automotive sheets and other value-added materials such as lithium, nickel and titanium.  POSCO Chairman Kwon Oh-joon (left) at the completion ceremony for the steelmaker’s new automotive steel plate plant in Th

Aug. 31, 2016

[THE INVESTOR] NH Investment & Securities, the nation’s second-largest brokerage, said on Aug. 31 it has agreed on a strategic partnership with Evercore, the US-based investment bank, to expand its global reach. The two firms said they have extended their strategic alliance for cross-border mergers and acquisitions advisory services for an additional two year period. Under the legally binding alliance, they will share client information and profits from achievements. Established in 1995, the New

Aug. 31, 2016

[THE INVESTOR] Hana Financial Investment on Aug. 31 said that Korean Air, the flagship unit of Hanjin Group, could elevate profitability in the rest of the year following creditors’ decision to put its ailing sister firm Hanjin Shipping under court receivership. The nation’s No. 1 air carrier together with other Hanjin companies has poured resources into helping out the cash-strapped shipper. “This year, Korean Air’s earnings could surge 33 percent to a record 1.2 trillion won (US$1.07 billion)

Aug. 31, 2016