Articles by Shin Yong-bae
Shin Yong-bae
shinyb@heraldcorp.com-
Samsung's rated "A+" by S&P
Global rating agency Standard & Poor's Ratings Service said Tuesday that its has decided to maintain its "A+" rating on Samsung Electronics Co., the world's largest smartphone maker, citing its stable market presence. The rating agency also offered a "stable" rating outlook on Samsung. "Although competition is heating up in the smartphone, display panel and home appliance sectors due to Chinese rivals' growth, Samsung's diversified business portfolio and the competitiveness of its premium produc
Industry July 26, 2016
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ASEM leaders condemn N.K. nuke, missile programs
The Asia-Europe Meeting summit on Saturday adopted its chair's statement condemning North Korea's nuclear and missile programs "in the strongest terms," Seoul's presidential office Cheong Wa Dae said. "The chair's statement includes content strongly condemning North Korea's development of nuclear arms and missiles, and calling for the full-scale enforcement of U.N. Security Council sanctions resolutions (against the North)," Kim Kyou-hyun, senior presidential secretary for foreign affairs, told
Social Affairs July 16, 2016
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Estimated 1m Koreans download 'Pokemon Go' app
An estimated 1 million South Koreans have downloaded "Pokemon Go," the popular augmented reality game not yet available in the country, an app analytics company said Saturday. WiseApp said about 1.03 million people are estimated to have downloaded the Nintendo mobile game, which has quickly become a global sensation since its release last week.The company said the figure was reached based on a survey of 14,439 users of Android-based phones from July 7-15. The survey has a margin of error of plu
Social Affairs July 16, 2016
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Turkey quashes coup; Erdogan vows 'heavy price' for plotters
ANKARA, Turkey (AP) -- Forces loyal to Turkey's president quashed a coup attempt in a night of explosions, air battles and gunfire that left dozens dead Saturday. Authorities arrested thousands of people as President Recep Tayyip Erdogan vowed those responsible ``will pay a heavy price for their treason.'' Turkish police arrest Turkish soldiers at the Taksim Square after a failed coup attempt, in Istanbul, Turkey, on Saturday. (EPA-Yonhap)The chaos capped a period of political turmoil in Turkey
Business July 16, 2016
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Turkish officials say coup attempt appears to have failed
ANKARA, Turkey (AP) -- Turkish officials said Saturday morning the government had appeared to have repelled an attempted military coup following a night of explosions, air battles and gunfire across the capital that left at least 17 dead, according to state-run media.Turkish people attempt to stop a tank moving into position in Ankara, Turkey, late Friday, July 15, 2016. Members of Turkey's armed forces said they had taken control of the country, but Turkish officials said the coup attempt had b
Diplomatic Circuit July 16, 2016
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Obama: All parties in Turkey should support Erdogan gov't
WASHINGTON (AP) -- President Barack Obama on Friday urged all sides in Turkey to support the democratically elected government of President Recep Tayyip Erdogan amid a military takeover of the key NATO ally. In a statement issued after a meeting with his national security advisers, Obama also urged everyone in Turkey to show restraint and avoid violence or bloodshed. Members of Turkey's armed forces declared hours earlier that they had taken control of the country as explosions, gunfire and
World News July 16, 2016
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Korea to keep watchful eye on Turkey coup attempt
South Korea's Foreign Ministry said Saturday it will keep a watchful eye on the latest coup attempt in Turkey overnight, adding it has also started the operation of emergency hotlines among South Korean organizations in the country. The Ministry of Foreign Affairs said its Turkey-based embassy will keep in close contact with South Korean companies and organizations in an effort to ensure the safety of its overseas residents. The Turkish military said Friday (local time) that it has taken full co
Diplomatic Circuit July 16, 2016
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NYX Cosmetics’ Toni Ko, one of Forbes’ richest self-made women
[THE INVESTOR] When L’Oreal acquired NYX Cosmetics for US$500 million in 2014, it most likely was eyeing NYX’s large social media following. NYX is well-known for its effective use of social media such as Facebook, YouTube and Instagram, to connect with consumers. As of early June, NYX has over 7.3 million followers on Instagram while L’Oreal has 2.5 million followers. When L’Oreal acquired NYX, it did not even have 10,000 followers. The person behind NYX Cosmetics’ success is its Korean-America
July 15, 2016
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Korea becomes 21st member of Paris Club
South Korea joined the so-called Paris Club as its 21st member country on Friday, the finance ministry here said, a step that acknowledges the country's transition into a creditor country.The membership was endorsed at the club's meeting to celebrate its 60th anniversary in Paris, according to the Ministry of Strategy and Finance.South Korea's Vice Finance Minister Choi Sang-mok attended the ceremony, it added.The Paris Club is an association of creditor countries with the major aim of finding
July 1, 2016
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Korean court rules Park Tae-hwan eligible to compete in Rio
A local court ruled on Friday that swimmer Park Tae-hwan is eligible to compete at the Rio de Janeiro Summer Games, a significant victory for the beleaguered athlete in his legal battle with the national Olympic body. The Seoul Eastern District Court accepted an injunction requested last month by the swimmer to confirm that the Korean Olympic Committee (KOC) has no reason to ban him from racing for South Korea at the Olympics.Park "has no reason for being disqualified based on Article 5 of the
Technology July 1, 2016
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Auditor detects huge DSME accounting manipulation
Daewoo Shipbuilding and Marine Engineering’s current difficulties were fueled by neglect by its biggest shareholder Korea Development Bank, the Board of Audit and Inspection announced on Wednesday. According to the BAI, the state-run bank neglected its duty in monitoring the shipbuilder’s accounts and financial stability. The KDB holds 49.7 percent of DSME, making it the biggest shareholder as well as the shipbuilder’s main creditor. DSME's Okpo Shipyard in Geoje, South Gyeongsang Province (Yonh
Latest News June 15, 2016
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Hanjin, Hyundai shippers swing to losses in Q1
South Korea's two largest container carriers posted massive losses in the first quarter, hard hit by plummeting freight rates, the already-troubled firms said Monday. Both Hanjin Shipping Co. and Hyundai Merchant Marine Co. are struggling to stay afloat amid a drawn-out slump in the global industry. They have sought creditors' help to buy time for self-restructuring programs and avoid court receivership. Hanjin, the bigger shipper by revenue, said in a regulatory filing that it swung to a net lo
Industry May 16, 2016
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Kakao's Q1 net dips 65% on slumping ad biz
Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, said Thursday its first-quarter net profit plunged 64.5 percent, as its advertisement business suffered falling seasonal demand and it spent big on new businesses.Net profit reached 10.9 billion won ($9.3 million) in the January-March period, compared with 30.8 billion won the previous year, the company said in a regulatory filing. Operating income also dropped 47.7 percent on-year to 21 billion won, while sales rose 3.5
Technology May 12, 2016
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7 public funds to come under simultaneous long-term survey in 2018
South Korea will conduct an integrated survey of its seven public funds' long-term fiscal estimation in 2018 in a bid to map out proper fund management plans based on an accurate assessment, the Ministry of Strategy and Finance said Tuesday.The survey by the National Pension Service and six others -- the Government Employees Pension Service, the Korea Teachers Pension, the Military Pension Service, the National Health Insurance Service, Workers' Compensation Insurance and Employment Insurance -
March 29, 2016
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Korea to cut discretionary spending by 10% in 2017
South Korea has decided to cut the discretionary spending of government agencies by 10 percent next year in a bid to focus its fiscal policy on job creation, the finance ministry said Tuesday.The 2017 budget guidelines, which passed the Cabinet on Tuesday, call for a thorough examination of spending earmarked for public works projects and welfare outlays.Out of the nearly 380 trillion won (US$326.2 billion) of the state budget last year, some 53 percent, or 200 trillion won, is discretionary spe
March 29, 2016
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