[THE INVESTOR] The US consumer protection agency said on Sept. 28 it’s working with Samsung Electronics to address safety issues related to some of its washing machines.The Consumer Product Safety Commission said it’s “actively and cooperatively working with Samsung” to resolve the issues “related to certain top-load washing machines made between March 2011 and April 2016.”“CPSC is advising consumers to only use the delicate cycle when washing bedding, water-resistant and bulky items. The lower

[THE INVESTOR] A Seoul court on Sept. 29 rejected the prosecutors’ request for a warrant to formally arrest Lotte Group Chairman Shin Dong-bin over embezzlement and breach of trust charges.The Seoul Central District Court turned down the request, saying it’s difficult to recognize the need for arresting the 61-year-old chairman of the retail giant.Prosecutors have accused Shin of orchestrating a series of shady deals at the group‘s affiliates, as well as giving large stipends to the owner’s fami

[THE INVESTOR] The overall sentiment of South Korean consumers was little changed from a month earlier in September, central bank data showed on Sept. 29.The composite consumer sentiment index for September came to 101.7, compared with 101.8 a month earlier, according to the data from the Bank of Korea.A reading above 100 means optimists outnumber pessimists.A separate index gauging the people’s sentiments toward the current economic conditions came to 72 in September, down from 74 a month earli

[THE INVESTOR] KOSDAQ opened higher at 689.34, up 2.58 points (0.38%) on Sept. 29.

[THE INVESTOR] KOSPI opened higher at 2,063.74, up 10.68  points (0.52%) on Sept. 29.

[THE INVESTOR] Embattled Lotte Group founder Shin Kyuk-ho’s daughter, currently standing trial for a string of corruption allegations, has been additionally charged with evading some tens of billions of won in taxes, prosecutors said on Sept. 28.The Seoul Central District Prosecutors’ Office, which is looking into the alleged corporate crimes of the country’s fifth-largest conglomerate, said Shin Young-ja is suspected of evading some 56 billion won (US$51 million) in gift taxes in the process of

[THE INVESTOR] Asiana Airlines said on Sept. 28 that its Incheon-bound flight returned to Los Angeles earlier in the day apparently due to a malfunction of a smoke alarm for the cargo section.The A380 plane with 358 passengers onboard returned to Los Angeles three hours after its departure at 12:10 p.m. Sept. 27 (local time), after a smoke warning light came on for the cargo area.Asiana said aviation officials there didn’t find any signs of fire or smoke in the cargo section, possibly indicating

[THE INVESTOR] KOSPI closed lower at 2,053.06, down 9.76  points (0.47%) on Sept. 28.

[THE INVESTOR] KOSDAQ closed lower at 686.76, down 1.23 points (0.18%) on Sept. 28.

[THE INVESTOR] KOSDAQ opened higher at 689.60, up 1.61 points (0.23%) on Sept. 28.

[THE INVESTOR] KOSPI opened lower at 2,062.57, down 0.25  points (0.01%) on Sept. 28.

[THE INVESTOR] Unionized workers of South Korea’s railway and subway services went on their first joint strike in 22 years on Sept. 27.It is in line with a series of labor movements carried out by union workers in the public sector against the new wage system, which started last week with the Federation of Korean Public Industry Trade Unions. The members of Seoul’s two major subway labor unions launched the walkout at 9 a.m., the unions said. The joint strike by subway workers from both unions -

[THE INVESTOR]A group of South Korean researchers have extracted a new component from Korean ginseng that could potentially suppress Parkinson’s disease and Alzheimer’s, a state-run institute said on Sept. 27.The research team has succeeded in extracting ginsenoside Rg18 from Korean ginseng, a component that is effective in cerebral neuroprotection, said Kim Kyung-tak, who headed the research at the Korea Food Research Institute.It said the discovery of ginsenoside Rg18 could potentially pave th

[THE INVESTOR] KOSDAQ closed higher at 687.99, up 1.23 points (0.18%) on Sept. 27.

[THE INVESTOR] KOSPI closed higher at 2,062.82, up 15,71 points (0.77%) on Sept. 27.

[THE INVESTOR] The Fair Trade Commission said on Sept. 27 that it will impose a fine of 305 million won (US$274,500) on Sony Korea for setting the price floor for its online camera sales.The firm forced its Internet dealerships to sell Sony-branded digital cameras and camcorders at above a certain price level between February 2011 and August 2013, with penalties given to violators, according to the antitrust watchdog.As a result, only 5 to 10 percent discounts had been given to South Korean onli

[THE INVESTOR]  Hyundai Motor Group said on Sept. 27 that eight of its car models received the highest marks in a consumer satisfaction survey in China.According to the automotive group, Hyundai Motor’s new Avante, new Tuscon and three other models were picked as the best in a consumer satisfaction survey conducted by the China Quality Association.Three models by affiliate Kia Motors, including the new version of the Sportage SUV and the K3 subcompact sedan, also scored the highest points on the

[THE INVESTOR] Samsung Electronics said on Sept. 26 that it has launched a startups-incubating program in Israel.The Samsung NEXT Tel Aviv will serve as a center for startups there. A startup may be funded up to US$1 million by Samsung, and the South Korean tech firm will cooperate with venture firms with cutting-edge technologies through a stake purchase and mergers and acquisitions.The company has invested in a total of 18 local startups there over the past three years.Samsung also operates si

[THE INVESTOR] Seventy-three credit-specialized finance firms in South Korea, excluding credit card companies, saw their net profits jump more than 25 percent on-year in the first half of this year, official data showed on Sept. 27.Their aggregate net profits amounted to 959.7 billion won (US$866 million) during the six months, up 25.8 percent from a year earlier, according to the Financial Supervisory Service.It’s mainly attributable to a reduction in delinquency rates and a key interest rate c

[THE INVESTOR] KOSDAQ opened lower at 685.15, down 1.61 points (0.23%) on Sept. 27.