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Samsung unveils future plans for chips, smartphones and shareholders
[THE INVESTOR] Editor’s note: Samsung Electronics announced on July 27 that it posted record earnings in the April-July period on the back of robust chips, displays and smartphone sales. During a conference call in the morning, the firm also unveiled business plans for its core electronic components and smartphone businesses. Below is a summary.Samsung Electronics mobile chief Koh Dong-jinRelated:Samsung’s chip business drives earnings growth in Q2Chip roadmap up to 2020Lee Sang-hyun, marketing
This week's DECODED X
[THE INVESTOR] The July 20 issue of The Investor's blockbluster newsletter DECODED X is out. Check out some of the highlights. AND THE BOAT GOES TO THE MOUNTAINS…There’s a saying, kind of, that Korea is a country where everyone is a political expert. Young and old, people have a view on every piece of political news, and everyone likes to share their opinions.In fact, everyone is an opinion leader when it comes to politics. I’m sure the same can be said for other countries as well, but it does
Samsung expected to continue record-breaking profit in Q3
[THE INVESTOR] Samsung Electronics, which posted record-high revenue, operating profit and net profit in the second quarter, is expected to post another top profit number in the next quarter on a continued chip boom and its new OLED panel supply for Apple’s new iPhones. The Korean electronics giant said on July 27, it posted 61 trillion won (US$54 billion) in sales and 14 trillion won in operating profit between April and June, rising 19 percent and 72 percent, respectively, from the previous ye
Google mulls W600b funding for LG’s VR display chip
[THE INVESTOR] Google is considering a 600 billion won (US$539 million) investment in LG Display's ongoing VR display chip project, Herald Business, a sister vernacular business daily of The Investor, reported on July 27. “The two firms are finalizing details of the funding plans since their talks started early this year,” an industry source was quoted as saying. “LG Group, the holding unit, is closely involved in the ongoing talks.”LG Display declined to confirm the report. Related:LG Display t
Kakaobank goes online, users suffer lag
[THE INVESTOR] Kakao Bank officially began operations on July 27 at 7 a.m., becoming the second online-only bank to be launched in South Korea, but it was quickly met with complaints due to the server failure of the bank’s mobile app. Within eight hours of the launch, some 230,000 users had downloaded the mobile app, through which some 103,000 new bank accounts were created, according to the bank. It also drew 26 billion won (US$23.3 million) in deposits and savings accounts, while extending loa
LG Display keeps mum on Apple’s OLED investment
[THE INVESTOR] LG Display on July 25 announced a whopping 9.6 trillion won (US$8.50 billion) fresh investment into OLED production. But the display maker remained mum over investors’ foremost concern -- a possible funding by Apple. The US tech giant is reportedly considering providing financial support for LG Display, its long-time LCD partner, to beef up OLED production, with its first OLED iPhone debuting later this year. Amid tight supplies of OLED panels for smartphones, Samsung Display, the
LG Display confident of outsmarting rivals in smartphone OLED
[THE INVESTOR] LG Display CEO Han Sang-beom appeared confident about outsmarting rivals in the smartphone OLED segement, in a press conference on July 26. “LGD has jumped in the POLED sector rather belatedly compared to its rivals, but I believe our customers are choosing us for our outstanding competitiveness in the technology,” Han said. LG Display CEO Han Sang-beomHis comments came a day after the display maker announced plans to pour 15 trillion (US$ 13.40 billion) for technology enhancemen
LS to sell auto parts, copper biz to KKR for W1tr
[THE INVESTOR] Korea’s LS Group said on July 27 it has signed a package deal worth 1.05 trillion won (US$923.6 million) with global investment firm KKR to sell a part of its electrical auto parts business and copper foil business. Under the agreement, KKR and LS Group affiliate LS Mtron will invest to create a new joint venture and acquire the business of LS Automotive from the Korean conglomerate. In a separate deal, KKR will buy full ownership of LS Mtron’s copper foil and flexible copper clad
Woowa Bros.’ ‘chimmelier’ event heats up chicken industry
[THE INVESTOR] About 500 people gathered at a five-star hotel in Seoul on July 22 to test their knowledge and passion in becoming experts in one of Korea’s most beloved menus -- chicken. Baedal Minjok, a food delivery app run by local startup Woowa Brothers, hosted an event to select “chimmeliers,” a portmanteau for chicken and sommelier. To become a certified chimmelier, participants took written and practical exams for a fee of 5,000 won (US$4.50). In the written part of the test, questions ra
[BEHIND THE WHEEL] Kia Stonic is nimble and efficient
[THE INVESTOR] Just like its name suggests, Kia Motors' latest Stonic subcompact sport utility vehicle delivers a fun yet agile drive. Stonic, a portmanteau of speedy and tonic -- which refers to the first note of musical scale -- is Kia’s take on the booming subcompact SUV segment, crowded with its bigger brother Hyundai Motor’s Kona, segment leader SsangYong Motor’s Tivoli and Renault Samsung’s QM3. To test what Kia has to offer, The Investor took the highest Prestige Trim of the Stonic on a 1
Celltrion’s earnings double on strong Remsima sales
[THE INVESTOR] Celltrion said on July 26 it nearly doubled its consolidated second-quarter earnings from a year ago, aided by strong global sales of its biosimilar Remsima. The Korean biopharmaceutical firm reported net income of 115.24 billion won (US$102.91 million) in the April-June period, up 93 percent from 59.59 billion won a year earlier. Its revenue increased 33 percent on-year to 246.14 billion won. The company said that earnings hit an all-time high boosted by growing global sales of R
Samsung Bioepis heats up price war in Remicade biosimilar market
[THE INVESTOR] Samsung Bioepis is heating up competition in Remicade biosimilar market by launching a cheaper version in the US, challenging existing peers, especially its crosstown rival Celltrion. Samsung Bioepis and its US marketing partner Merck said on July 24 they have started selling Renflexis, their copycat version of Johnson & Johnson’s blockbuster treatment, in the US at 35 percent discount to the listed price of the original drug. Renflexis is the second US biosimilar version of Remic
SK hynix to continue investment push regardless of Toshiba deal
[THE INVESTOR] Korean chipmaker SK hynix said on July 25 that its investment plan this year will remain intact regardless of the ongoing acquisition deal of Japanese chip manufacturer Toshiba’s memory chip unit.“No one knows the results of the Toshiba deal, and no matter what the capex plan for NAND flash chips, especially 3-D NAND flash, will not change,” an executive from the Korean firm said during a conference call in the morning.Related: SK hynix posts record earnings in Q2The Korean chip c
Hyundai Kona sales to exceed 10,000 units in July
Kakao Bank goes online, users suffer lag
LG Electronics sees slight profit increase in Q2
[EQUITIES] ‘Amorepacific disappoints in Q2’
[EQUITIES] ‘Celltrion posts record earnings in Q2’
Kia to launch new cars in China to boost sales
Kia to cut incentives, launch Stinger in US on sales slump
[INTERVIEW] Pfizer eyes collaboration with Korean firms for gene therepy
Kia to launch Stonic, Stinger in Europe this year
SK chairman files for divorce
Cafe MangoSix CEO found dead
ChongKunDang chairman faces flak for staff abuse
Medytox CEO to meet Allergan to discuss start of phase 3 trials of Innotox
