December 19, 2018

• 
• 
• 

Korean Air to levy no-show fee on abuse by K-pop fans

[THE INVESTOR] Korean Air announced on Dec. 18 it has decided to levy a no-show fee on all international flights from next year as several passengers, mostly K-pop fans, are causing inconvenience for others with their behavior. The nation’s largest air carrier said it will charge an additional 200,000 won (US$177.15) to passengers who do not turn up without canceling their booking. Currently, the penalty fee is 120,000 won for the US, Europe, Middle East and Africa, 70,000 won for Southeast Asia

Upbit becomes No. 3 crypto exchange in trade volume

[THE INVESTOR] Upbit, the nation’s largest crypto exchange operated by Dunamu, has become the third-largest globally in terms of trade volume, according to the latest report of Blockchain Transparency Institute published on Dec. 13.BTI has published exchange rankings since August, with aims to offer more transparent, data-driven insights into the market. From this month, the rankings reflect transactions through mobile apps and API trade while excluding wash trading for more accurate calculation

JB Financial, CIMB Niaga join hands for open banking platform

[THE INVESTOR] JB Financial Group said on Dec. 14 it has signed a strategic partnership with CIMB Niaga, the Indonesian commercial bank and unit of Malaysian banking giant CIMB Group, to introduce its open banking platform in Indonesia. JB Financial is taking the lead as the first Korean banking group to export its own open banking platform, unlike other banks that usually enter overseas markets after acquiring local banking licenses.  Executives of JB Financial Group and CIMB Niaga pose after s

Samsung, LG to showcase 5G phones at MWC

[THE INVESTOR] Korean smartphone makers Samsung Electronics and LG Electronics are planning to unveil their first fifth-generation network-enabled smartphones at the biggest mobile industry tradeshow in Barcelona in February, aiming to launch the phones in March upon commercialization of wireless 5G services, according to industry sources on Dec. 16.Industry observers are paying attention to the Mobile World Congress 2019 that opens in Barcelona in late February in order to witness the new phone

Innisfree lands in Melbourne

[THE INVESTOR] South Korean cosmetics giant Amorepacific’s organic skincare brand Innisfree opened a new store in Melbourne, the third of its kind in Australia. It comes six months after the company has opened the first store in Australia, amid local consumers’ increasing interest toward the K-beauty and organic cosmetics, the company said. The new Innisfree store is located on the first floor at Australia’s the largest shopping mall Chadstone Shopping Centre. The company said the store is decor

Hyundai’s SUV market share in US rises

[THE INVESTOR] Hyundai Motor’s market share in sports utility vehicle segment in US has risen to a record high of 3.7 percent as of November, since it entered the market in 2000, industry sources said on Dec. 16.The South Korean auto giant sold a total of 271,377 units of SUVs, between January and November, a 14.1 percent increase from the same period last year.Hyundai’s SUV market share headed downwards in recent years after reaching a peak of 3.6 percent in 2009. The figure hit the bottom with

Yanolja partners with Irish hostel operator for global expansion

[THE INVESTOR] Yanolja, an accommodation booking app operator, said on Dec. 14 that it has inked a partnership with Ireland-based Hostel World as part of its efforts to enter more overseas markets.Hostel World is one of the largest operators in Europe, running 36,000 hostels and guesthouses in 170 nations. The latest partnership is aimed at offering affordable accommodations in the region for Yanolja subscribers, and increasing the firm’s global presence, according to the Korean startup. Yanolja

KDB to complete lifeline injection to GM Korea

[THE INVESTOR] State-run Korea Development Bank said on Dec. 13 it will complete injecting US$750 million into the financially troubled Korean unit of General Motors later this month, ending a controversy over the spin off of its research unit. The policy bank, second-largest shareholder of GM Korea, and the US carmaker had signed a deal in May to provide a rescue package for the local loss-making unit. Under the agreement, GM agreed to provide an additional US$3.6 billion in fresh loans to keep

Hyundai Mobis to introduce windshield display technology at CES

[THE INVESTOR] Hyundai Mobis, Korea's biggest auto parts maker by sales, said on Dec. 16 it will introduce a windshield display technology for its autonomous vehicles.Hyundai Mobis plans to unveil the technology, which tracks a driver's eye and finger motions to manipulate the display while in autonomous drive mode, at the 2019 Consumer Electronics Show, the carmaker said in a statement.A movie can be shown on a wraparound windshield that encompasses the front seats, and the navigation and audio

Analysts bullish on shares of chaebol holding firms

[THE INVESTOR] The National Pension Service’s adoption of a stewardship code in July and increasing activities by local activist funds are likely to boost shareholder returns and optimization of corporate assets by conglomerates, according to market watchers on Dec. 13.The country’s major brokerages -- Hana Financial Investment, Samsung Securities, Hi Investment & Securities and Korea Investment and Securities -- are of the opinion that investors should pay attention to investment opportunities

IMM Investment, JKL Partners acquire GS ITM

[THE INVESTOR] Korea-based IMM Investment and JKL Partners are set to acquire GS ITM, a subsidiary of GS Group, according to industry sources on Dec. 12.The consortium has signed an agreement to buy 80 percent stake in GS ITM, currently owned by the Korean conglomerate’s owner family, before the year-end.The two companies will reportedly not take any loans, and invest 50 billion won (US$44.33 million) and 100 billion won, respectively. GS Group had selected Samil PricewaterhouseCoopers as it acq

Mirae Asset’s Indian unit boasts W4tr AUM

[THE INVESTOR] Mirae Asset Global Investments said on Dec. 12 that its business in India has topped 4 trillion won (US$3.54 billion) in assets under management, almost doubling this year. The company now manages 4.43 trillion won as of November. With 2 trillion won this year alone, it has recorded the fastest AUM growth among rivals. This makes Mirae Asset Investment (India) the 16th largest, out of 40 asset management companies in the country. “We’ve seen an increase in the inflow of funding th

OLED display gains momentum in smartphone market

Korean Air to levy no-show fee on abuse by K-pop fans

GC Pharma wins nod to carry out clinical trials on hemophilia drug

Samsung C&T President Lee Seo-hyun likely to resign

KakaoPage acquires Indonesian webtoon operator

Ananti shares soar on Jim Rogers’ appointment

Han Sung celebrates 7 years of art scholarship project

Korea’s gaming industry among world’s top in sales

Samsung named most preferred brand in Russia

SK Telecom joins forces with Deutsche Telekom

LG unveils ESS for small solar plants

[EQUITIES] ‘CJ CheilJedang to top Q4 earnings expectations’

[EQUITIES] ‘Hanwha Aerospace to outperform in Q4’

[EQUITIES] ‘Samsung Electro-Mechanics slows down in Q4’

Gist of Korea’s 2019 economic policy plan

KDB supports GM Korea’s plan to spin off research unit

Daimler, MAN to recall over 3,000 trucks, tractors

Delisting of pharma firm sparks debate on market fairness

CJ chief calls for rapid global expansion

Berkeley Center’s Adam Sterling on future of VCs, startup ecosystem

Toss lands US$80m investment to become Korea’s first fintech unicorn

Kakao’s Friends Games raises W22b

Toss app operator to establish own brokerage

Why birth order is a big deal at LG

New thinking needed on GM Korea

Fall of the ‘Angel of Death’?

Wherever you end up going