Samsung Electronics's operating profit for the second quarter is expected to reach a record-high level of 13 trillion won ($12 billion), market watchers said Thursday.The South Korean tech giant is set to announce its second-quarter earnings guidance Friday. (Yonhap)According to the data compiled by FnGuide, South Korean brokerage houses estimated Samsung's second-quarter operating profit at 13.1 trillion won, which is higher than the previous record of 10.1 trillion won posted in the third quar

Industry July 6, 2017

A growing number of Korean pop stars received death threats in recent months, raising questions as to why such incidents occur.From Apink to Twice to BTS, South Korea’s most beloved artists have faced serious threats from various anonymous persons online and over the phone. This has put the local entertainment industry on edge, amid growing concerns over how celebrities can be better protected from such threats.Most are written out of anger. Irrational jealousy over celebrities who are dating or

July 6, 2017

South Korea's retail investors are generally staying away from the local bourses, industry data showed Thursday, as foreigners and institutions pushed up stocks to record highs in recent months backed by improving corporate earnings and resilient exports.The KOSPI main bourse has risen 18 percent in the first six months this year, while the tech-heavy KOSDAQ market posted a 6 percent jump during the same period.The daily trading volume of individual investors contracted 8.5 percent to 5.06 trill

Market July 6, 2017

South Korean department stores saw their sales fall in May as more consumers opted for online shopping, government data showed Thursday. The department stores' sales index dropped 4.6 percent in May compared to the same period last year, according to the data from Statistics Korea.  Since the beginning of this year, the index has been on a downturn, recording 1.5 percent, 5.6 percent and 3.5 percent drops in January, February and March, respectively, the data showed. The rate of decrease dr

Economy July 6, 2017

South Korea's share in the Chinese, U.S. and European auto markets has been declining for the past four years amid tense competition from Japanese and American automakers, industry sources said Thursday.South Korea's share of the global auto market stood at an average 5.8 percent in the three major markets during the first five months this year, the sources said. (Yonhap)The numbers have been falling steadily from 7.7 percent in 2012 to 7.5 percent in 2013 and 2014, and 7.2 percent in 2015. Last

Industry July 6, 2017

Households with loans use about a third of their disposable income on debt repayment, statistics showed Thursday, undermining efforts to spur consumption through spending.The National Assembly Budget Office analyzed figures provided by Statistics Korea and found that a household with loans on average had 46.35 million won ($40,147) in disposable income last year, of which 15.48 million won, or 33.4 percent, was used to pay back principal on loans. It was the first time that the ratio surpassed 3

Economy July 6, 2017

Active-matrix organic light-emitting diode screens are expected to rise as mainstream panels for the global smartphone industry within four years, industry watchers said Thursday, beating thin-film-transistor liquid-crystal displays.According to the data compiled by industry tracker TrendForce, AMOLED panels took up 23.8 percent of the global market for smartphone displays in 2016, hovering far below the 76.2 percent posted by TFT-LCD. (Yonhap)The industry tracker, however, said the presence of

Industry July 6, 2017

Samsung Electronics on Thursday showcased the refurbished edition of the ill-fated Galaxy Note 7, whose production was suspended last year due to battery issues.SK Telecom, the country's No. 1 mobile carrier, said it will kick off sales of the Galaxy Note FE, or Fan Edition, starting Friday.Models pose for a photo with the Galaxy Note FE in this photo released by SK Telecom Co. on July 6, 2017. (Yonhap)The price tag on the Galaxy Note FE stands at 699,600 won ($606). The device comes in four col

Industry July 6, 2017

BMW, Peugeot-Citroen and Renault Samsung Motors Corp. will recall nearly 30,000 vehicles in South Korea for faulty parts, the transport ministry said Thursday. This is the latest in a series of recall orders issued by the Ministry of Land, Infrastructure and Transport against both domestic and foreign carmakers.  (Yonhap)The carmakers plan to recall 27 different models totaling 29,926 units. The models include the BMW X1 xDrive18D and BMW M760Li xDrive, Peugeot-Citroen's DS3 1.6 e-HDi and Renaul

Industry July 6, 2017

Foreign investors bought shares traded on the South Korean and Asian stock markets in the first half of this year despite concerns over capital flight as the US marked up its interest rates, industry data showed Wednesday.Foreign investors purchased $29.1 billion worth of stocks more than they sold in Asian countries, up compared to $27.6 billion for all of last year, according to statistics by the Korea Center for International Finance.Foreigners sold $4.1 billion of stocks in the Asian ma

Economy July 5, 2017

The sale of environment friendly vehicles is on the rise in South Korea's used car markets as the government moves to reduce fine dust-emitting diesel vehicles, a local website said Wednesday.Pre-owned car sales data offered by SKencarsales.com back up the trend. It said SK encar.com, a certified Korean used car seller here, reported a 26 percent on-year increase in sales in the January-June period from 5,644 units to 7,107 vehicles in 2017, a SKencarsales.com spokesman said. (Yonhap)SK encarsal

Industry July 5, 2017

Purchases made through mobile gadgets like smartphones reached a new all-time high in May as a growing number of people are becoming adept in using wireless devices for various reasons, government data showed Wednesday.Mobile transactions through smartphones and tablets reached 3.82 trillion won ($3.3 billion) in May, soaring 37.9 percent from a year earlier, according to the data by Statistics Korea. (Yonhap)It eclipsed the earlier record of 3.74 trillion won in monthly mobile trading set in Ma

Industry July 5, 2017