April 22, 2018

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IFA 2018 to showcase smart appliances, AI solutions and mobility

[THE INVESTOR] ROME -- This year’s IFA, Europe’s biggest exhibition of consumer electronics, will see smart and connected devices for home appliances as well as artificial intelligence-incorporated consumer electronics take center stage, including those from South Korean tech giants Samsung and LG.“While AI is a key for the connected world, I see Samsung and LG leading the market. Korean companies are building huge research centers overseas and from what I see so far, I think they are doing it i

Past comes back to haunt Korean Air’s Cho family

[THE INVESTOR] As public backlash builds over the misconduct of Korean Air's Cho, some of their past deeds are coming back to haunt them. News reports are now shedding light on events dating back to 2015 when the Fair Trade Commission zeroed in on Hanjin Group’s affiliate Cyber Sky for being too reliant on inter-subsidiary sales. The government steps in when more than 80 percent of a conglomerate unit’s sales come from other affiliates. Cyber Sky's shares -- all non-listed -- were consecutively

Police raid Korean Air

[THE INVESTOR] Police raided the headquarters of Korean Air on April 19 as part of a probe into allegations that its senior executive Cho Hyun-min assaulted an advertising company official at a business meeting. Six officials from the Seoul Gangseo Police Station searched the main office of Korea’s flagship airline to secure evidence. The authorities also impounded the two smartphones used by Cho and two others belonging to other Korean Air executives who were at the meeting.RELATED:Cho Hyun-min

Chanel Korea settles conflict with union

[THE INVESTOR] Chanel Korea's management and its labor union announced on April 20 that they have successfully reached an agreement on working conditions.“We will work hard with the union to create a congenial environment,” Chanel Korea said in a statement. The company refused to disclose the details of the agreement. The labor union said it decided to bridge the gap with the company after 26 days of protests.“The union was persuaded by the company’s sincerity, and this mutual trust will lay the

Major Korean financial groups post decent Q1 earnings

[THE INVESTOR] Analysts said it was rough three months for Korea’s financial groups. Some have been under severe criticism due to hiring scams, triggering an unprecedented level of oversight from the country’s financial authorities. But looking at the scorecards for the first quarter, the top four major financial groups seem to have weathered the storms.  KB Financial Group, a major Korean banking group, was the first to announce its results a day earlier. Its net profit rose 11.3 percent on-yea

Clock ticking fast for GM Korea

[THE INVESTOR] GM Korea’s management held talks with the labor union on April 19 for the 10th time, a day ahead of the deadline for reaching an agreement on restructuring plans. The remaining thorny issues are how to deal with employees at the soon-to-be-shutdown Gunsan plant, and what kind of plans the company will offer, such as assigning new car models, to foster GM Korea’s future growth. The management is calling on the union to agree to assigning 680 more employees at Gunsan to accept eithe

Anchor Equity Partners may invest in Market Kurly

[THE INVESTOR] Hong Kong-based global private equity firm Anchor Equity Partners may invest in The Farmers, operator of popular grocery delivery service Market Kurly, according to news reports on April 19.The PEF is reportedly discussing with The Farmers to make the investment ahead of its potential initial public offering, scheduled for the first half of 2019. According to sources, Anchor Equity Partners is planning to fund around 20 billion won (US$18.75 million) to 30 billion won and is hopin

BTS’ new album tops Amazon’s preorder list

[THE INVESTOR] K-pop boy band BTS’ new album “Love Yourself: Tear” topped an Amazon preorder list on April 18.Big Hit Entertainment, the management agency of BTS, said on April 19 that the album reached No. 1 on Amazon’s CDs & Vinyl Best Sellers list in the US just a day after preorders became available on April 17, local time. The official release is set for May 18. In September, “Love Yourself: Her,” the first in the band’s “Love Yourself” series, had stayed at the top of the preorder list for

Bithumb coins to see light

[THE INVESTOR] Korea’s major cryptocurrency exchange Bithumb is planning to launch its own virtual currency called “Bithumb coin,” according to industry sources on April 19.The announcement came from Bithumb’s Singapore unit, which said it is planning two types of coins. “It’s true that a subsidiary in Singapore is considering the launch,” Lee Sung-mi, a Bithumb spokesperson told The Investor. “But we don’t have any other details, either about the new currency or the presale.” She added that soc

Find someone younger, bolder: POSCO Kwon Oh-joon's letter

[THE INVESTOR] POSCO Chairman Kwon Oh-joon offered to step down on April 18. It came as a surprise, despite the fact that there had been speculations of such a move since the head of the steelmaker has always changed with the government. Kwon had been shunned by the Moon Jae-in government on several occasions, and there was some negative talk about his performance as chairman as well. He was an engineer, a techie at heart, and some say he never really switched over to the “other side.” Whether t

Nonghyup Financial Group chairman not to run for third term

[THE INVESTOR] It seems to be the season for stepping back. Kim Yong-hwan, the incumbent chairman of Nonghyup Financial Group said on April 19 that he would not seek to renew his term a third time. His announcement has more or less cleared the path for former Korea Kim became the only man standing after another candidate Yoon Yong-ro, chairman of Koramco Reits and Trust stepped down earlier this month. Nonghyup Financial Group is the holding company of Nonghyup Agricultural Cooperative Federatio

Deutsche Bank’s AMC acquires Logiport Icheon for W61b

[THE INVESTOR] Deutsche Bank’s asset management arm, which was rebranded as DWS a few months ago, said on April 18 that it has acquired Logiport Icheon for 61.2 billion won (US$57.47 million) in an off-market transaction with Lasalle Investment Management. “Boosted by growth of the local e-commerce industry, active leasing market and its accessible location, Logiport Icheon is an attractive addition to our fund,” said Christopher Kimm, managing director and head of real estate for Korea. “DWS ha

How Korean Air's Cho family smuggled their stuff: sources

Past comes back to haunt Korean Air’s Cho family

‘I don’t regret calling out Korean Air's Cho Hyun-min’

GM Korea union losing ground following due diligence

Police raid Korean Air

Renegotiating Toshiba deal not an option: SK Group chairman

Actor Jung Hae-in boosts FNC Entertainment’s fortunes

Netmarble targets N. America with first mobile multiplayer strategy game ‘Iron Throne’

Raonsecure aims for US operation momentum with RSA presentation

South Korea mediocre in cloud computing readiness

Korea, IMF discuss ways of revealing currency market intervention

[EQUITIES] ‘SK gains momentum from private subsidiaries’

[EQUITIES] ‘GS Home Shopping continues to slide in Q2’

[EQUITIES] ‘Celltrion Healthcare to face competition’

I’m firing my kids: Korean Air’s Cho Yang-ho

BMW Korea chief to head Korean-German Chamber of Commerce

Korea partners with Central and South America for energy infrastructure

Australian steelmaker to become plaintiff in Korea’s first English patent case

Coinone makes foray into Indonesia

Intervest bets big on biotech, blockchain

US investment firm KKR zooms in on Bithumb, Yanolja

Health care data startup Zikto seeks W30b ICO

Fall of the ‘Angel of Death’?

Wherever you end up going

Grab’s crucial lessons for KakaoTaxi

Can Kakao Bank solve problems of the underbanked?