[THE INVESTOR] TOKYO -- POSCO has put down some 3 billion won (US$2.67 million) for a foundation established this year to aid those forced into labor by Japanese companies under colonial rule between 1910 and 1945. According to reports from Japan’s the Asahi Shimbun on Aug. 25, POSCO made the donation on Aug. 5. POSCO in 2014 had pledged to make 10 billion won in donations based on claims from forced labor victims the company had abused money that should have been theirs. POSCO’s precursor, Poha

[THE INVESTOR] Mirae Asset Securities on Aug. 24 said it expects Hyundai Engineering & Construction to secure up to US$4 billion worth of overseas orders this year to step closer to its annual goal of 9 trillion won (US$8 billion).The orders will help Hyundai pick up on unfinished construction projects later in the year, the brokerage said, giving the firm much needed momentum. By Kim Ji-hyun (jemmie@heraldcorp.com)

[THE INVESTOR] SK Securities expects Doosan Engine’s profitability to improve during the latter half of this year as the firm wraps up its restructuring. The engine-maker‘s operating profit rate is likely to be improved to 2.7 percent from minus 9.2 percent in 2015, the brokerage said. The firm may also attain more liquidity when Doosan Bobcat goes public. Doosan Engine owns 11.8 percent stake in Doosan Bobcat, which recently passed the preliminary initial public offering assessment.By Kim Ji-hy

[THE INVESTOR] Hanmi Semiconductor, a Korean semiconductor equipment-maker celebrated the completion of its third factory in Incheon, the firm announced Aug. 22. The event follows on the heels of a 37.5 billion won (US$33.5 million) investment Hanmi achieved from German-American venture capitalist Peter Thiel. “We are working to increase our capacity to keep up with the growing demand, especially from China and Taiwan,” said Kwak Dong-shin, vice chairman of Hanmi.  Hanmi SemiconductorEstablished

[THE INVESTOR] S-Oil posted the highest operating profit rate of 14.9 percent in the first half of this year out of Korea’s top 30 industrial groups, according to data from corporate tracker CEO Score on Aug. 22.The country’s third-largest refiner saw its first half operating profit rise 34.1 percent on-year during the first six months of this year to 1.13 trillion won (US$1 billion). In the second quarter, S-Oil posted a record quarterly operating profit rate of 15.3 percent. Hyundai Department

[THE INVESTOR] Kumho Tire was the exclusive provider for all cars that competed in the annual Masters of Formula 3 race held in the Netherlands from Aug. 19-21, the tire-maker said Aug. 22. Kumho provided its Ecsta S700 and W700 racing slicks -- manufactured for circuit use -- to the vehicles. The Masters of Formula 3 is the unofficial European F3 championship car race. It draws crowds of an average 45,000 people, and is considered a valid marketing opportunity for auto parts-makers. Kumho Tire

[THE INVESTOR] Local entertainment agency stocks fell to record-lows in the wake of a standoff between South Korea and China over the planned deployment of Terminal High Altitude Area Defense system. SM Entertainment’s share price fell 5.32 percent to a 52-week-low of 28,150 won (US$25.10) on Aug.5. Another major agency, YG Entertainment, saw its share price close 4.59 percent lower at 32,250 won, another 52-week-low. SM Entertainment's idol group EXO. SM EntertainmentIndustry experts say China’

[THE INVESTOR] Daishin Securities on Aug.5 said Asiana Airlines is likely to post a 59.7 percent increase in its third-quarter profit to reach 111 billion won (US$99.35 million).The brokerage said the carrier was making progress in selling off non-core assets and improving the profitability of unprofitable flight routes. Daishin also said second-quarter earnings were encouraging, pointing to Asiana’s 18 billion won operating profit, which reflected a turnaround from the same period in 2015.In Ju

[THE INVESTOR] Political events often have significant impact on the economy, and South Korea’s recent decision to deploy the advanced anti-missile system Terminal High Altitude Area Defense is having some major economic repercussions.The biggest of them comes from China, South Korea’s largest trade partner. THAAD does not threaten China in a military sense, but Beijing is concerned about the increased leverage that the US would wield in the region. Chinese president Xi Jin-ping.Beijing has been

[THE INVESTOR] Shinsegae Group is awaiting final confirmation from Tesla Motors to open its first Korean dealership in Starfield Hanam shopping mall, officials said on Aug.4.“It is true that talks are ongoing between Shinsegae and Tesla Motors, but we have yet to reach a deal. We are still waiting for the final go-ahead,” said Choi Kyu-wook, a Shinsegae spokesman. A Tesla retail store in Houston, the US.Starfield Hanam in Gyeonggi Province is scheduled to open this September as the nation’s larg

[THE INVESTOR] A series of unfortunate events and negative factors abroad are hindering the South Korean economy from growing toward its desired targets. The impact of the U.K.’s Brexit vote was beginning to ease up, with the government pledging fiscal support through a 28 trillion won ($25 billion) stimulus package following the central bank’s monetary easing. But falling oil prices now stand in the way of Asia’s fourth-largest economy reaching its potential.With crude oil prices dropping below

[THE INVESTOR] Oil funds and exchange-traded funds have been incurring losses over the past month on falling oil prices, according to industry data. After rising to US$51.23 per barrel in June, crude oil prices have been on a downward trend. On Aug. 2, they hit a near four-month low by falling to US$39.51. 123rfThree major oil funds managing 1 billion won (US$ 897,900) or more here have been showing negative growth as of Aug.1, according to local financial data tracker FnGuide on Aug. 3. The mon

[THE INVESTOR] Audi Volkswagen Korea has yet to announce monetary compensation for its customers, according to industry sources.Despite the damages the Germany-based carmaker has caused here by putting cars with fabricated specs on the street, Volkswagen has yet to release any details on how it would be compensating its Korean customers who are now preparing lawsuits following the latest decertification decision. These customers will also be requesting the Environment Ministry to order VW Korea

[THE INVESTOR] Audi Volkswagen Korea has a rocky road ahead for getting its cars recertified.Imported cars are usually required to submit related documents to receive certification from the South Korean government, but Volkswagen vehicles that were penalized for fabricated emission and noise levels will have to undergo specific tests for recertification, according to the Environment Ministry. 　 Volkswagen AG CEO Matthias Muller.The recertification tests will be conducted to confirm that the car

[THE INVESTOR] Klasse Auto, the largest dealer of Audi Volkswagen Korea, on Aug. 2 issued an apology to customers.“We have disappointed and worried our customers due to the latest Volkswagen scandal, and as an official dealer, we feel it is part of our responsibility to do our best to protect your interests,” Klasse Auto president Lee Byung-han said via the dealer’s homepage. “We will also do our utmost to offer our clients satisfactory after-sales services,” Lee said. A Klasse Auto showroom in

[THE INVESTOR] The ratio of South Korean workers exempt from paying earned income taxes reached 48.1 percent in 2014, higher than the figure from other advanced economies, a local report said on July 31. The ratio is much higher than, for instance, the 25.1 percent reached in Australia and 2.9 percent in Britain, according to the July edition of the Finance Forum released by the Korea Institute of Public Finance.The percentage of Korean workers who did not pay taxes on their income has actually 

 [THE INVESTOR] Gimpo International Airport is coming under fire for continued safety concerns linked to its ongoing remodeling project after consecutive fires and flooding.The latest incident broke out on July 29 at approximately 6:30 a.m., when water leaked from the ceiling near the convenience store on the first floor and restrooms on the second floor, according to Korea Airports Corp., which operates the Gimpo airport.“The water came into the waiting area when heavy rains flooded the canopy

[THE INVESTOR] Household goods manufacturer Oxy Reckitt-Benckiser announced Sunday that it would provide up to 350 million won ($315,000) in compensation each to Korean victims of its lethal humidifier sanitizers. “The compensation package took into consideration the delay in preparing a proper response, and the severity of the issue (of the humidifier sanitizers’ danger),” the company said in a statement via its website, adding it would begin taking applications for compensation on Aug.1. Atar

[THE INVESTOR] POSCO Daewoo, South Korea's leading trade company, was picked as the single preferred bidder for a multimillion dollar project to build a power plant in Myanmar, the company said on July 31.The nation’s biggest steelmakerPOSCO’s subsidiary said it won the qualification during an international competitive bid held by Myanmar’s Electric Power Generation Enterprise.POSCO Daewoo headquarters.The bid winner will build a steam power plant in Shwetaung, northwest of largest city Yangon,

[THE INVESTOR] The head of the leading lobby group of local conglomerates, Federation of Korean Industries, has raised doubts about a local anti-graft law that will be implemented in September this year. “In the past, we have seen laws get scrapped or become nonexistent if they are too unrealistic. I am concerned that the anti-graft law will follow the same pattern,” said Huh Chang-soo, who is also chairman of GS Group, at a FKI-hosted CEO forum on July 28. GS Group chairman Huh Chang-soo.“Furth