[THE INVESTOR] While a new trend in liquor consumption is setting among South Koreans, whisky makers are entering into competition with each other in low-alcohol brands. Golden Blue, a homegrown whisky released in 2009 by a fledgling Korean distiller based in the southeastern port city of Busan, said it plans to release Phantom The Original, a whisky with 35 percent alcohol, on Oct. 28.Low-alcohol whiskies have gained ground in South Korea since late 2009, when the local distiller released Golde

[THE INVESTOR] The number of newborns in South Korea continued to be at a low ebb in August, shadowed by a low birthrate and a late marriage trend, government data showed on Oct. 27.About 33,900 babies were born in August, down 3.7 percent, or 1,300, from 35,200 a year earlier, extending the losing streak to nine straight months since December last year, according to the data released by Statistics Korea.The number of marriages, however, rose 5.5 percent on-year to 23,000 in August, turning arou

[THE INVESTOR] Lotte Group Chairman Shin Dong-bin will continue in his current position as Japanese shareholders of the holding firm Oct. 26 voted in his favor. The chairman promised reform measures to restore the South Korean retail giant’s image dented by a corruption investigation. Shin attended a meeting of Lotte Holdings shareholders at its Tokyo headquarters, one day after making a public apology and announcing a series of measures to improve the group’s opaque governance structure at a pr

[THE INVESTOR] Chinese jet fuel exports to North Korea rocketed up nearly 400 percent in September from a year earlier, data showed on Oct. 26.China exported jet fuel worth US$9.7 million to North Korea last month, up 391 percent from a year earlier, according to data compiled by the Beijing office of Korea International Trade Association.Chinese exports of jet fuel to North Korea fell 13.1 percent on-year to $31.65 million in the first nine months of this year.The latest UN sanctions resolution

[THE INVESTOR] South Korea's largest steelmaker POSCO, reported on Oct. 26 that its brisk steel sales in the overseas market and cost-cutting efforts has paid off as it swung to a net income in the third quarter.Its consolidated net income came to 475.5 billion won (US$419.80 million) in the July-September period, compared with a 658.2 billion-won net loss from a year earlier, the company said in a regulatory filing. Operating profit also turned to the black to reach 1.03 trillion won in the per

[THE INVESTOR] The decision to close an inter-Korean industrial complex was made out of security concerns in response to North Korea’s nuclear and missile tests early this year, the Unification Ministry said on Oct. 26. The reaction by the ministry came as a local report claimed Choi Soon-sil, a close confidant to President Park Geun-hye, was involved in state affairs, including the government’s February decision to shut down the Kaesong Industrial Complex. She does not hold a government post. O

[THE INVESTOR] Hyundai Motor reported on Oct. 26 that its third-quarter net profit dipped 7.2 percent from a year earlier.In the three months ended Sept. 30, the carmaker posted a net profit of some 1.12 trillion won (US$987.20 million), compared with a net profit of about 1.21 trillion won in the same period last year, the company said in a regulatory filing.Sales dropped 5.7 percent on-year to a little over 22 trillion won in the July-September period as the carmaker sold 1,084,674 vehicles gl

[THE INVESTOR] The number of South Koreans who have purchased European upmarket home appliances from online vendors abroad is on the rise, a survey showed on Oct. 25. According to the survey by G9, an online shopping website, sales of European kitchen appliances more than quadrupled on year for the July-September period.Sales of European household appliances also jumped more than six times on year for the quarter, the survey said. Among popular European brands are SMEG and Delonghi. In the third

[THE INVESTOR] The Chinese government is tightening regulations on cheap tour packages, raising concerns among South Korean businesses, industry officials said on Oct. 25.Earlier this month, the China National Tourism Administration CNTA) said it will closely look into “irrationally” cheap travel packages over the next six months, vowing to conduct investigations into local tour operators and review their contracts to crack down on low-quality programs. While the guideline was not targeted at a

[THE INVESTOR] New Zealand’s top envoy in Seoul said on Oct. 25 she hopes South Korea will join the Trans-Pacific Partnership, calling the country a “natural partner.”New Zealand is one of 12 countries that have joined what is expected to emerge as the world’s largest free trade block. US President Barack Obama has been pushing to ratify the pact before the end of his term. South Korea has yet to decide whether to join. Its actual implementation, however, faces uncertainty as key presidential ca

[THE INVESTOR] Aging population is the most difficult long-term challenge confronting South Korea, the head of Organization for Economic Cooperation and Development said on Oct. 25.Angel Gurria, secretary-general of OECD, urged Seoul to make efforts to better use older workers, saying that the wage peak system is a “positive” step to that end.“Perhaps the most difficult is population aging,” Gurria told a seminar organized here to celebrate the 20th anniversary of South Korea joining the OECD. “

[THE INVESTOR] Mineral resources have been North Korea’s key exports, providing a valuable source of hard currency for the impoverished communist state.However, the country’s mineral reserves may be far smaller than it claims, South Korea’s public resources firm said on Oct. 21. In 2015, North Korea’s exports of mineral resources to China came to US$1.34 billion, accounting for nearly 50 percent of the North‘s overall exports that year, according to the state-run Korea Resources Corp. or KORES.A

[DISCLOSURE] Selvas AI (108860) announced on Oct. 21 that it has obtained a patent for an advanced device that creates a database using digital artificial intelligence for written data recognition technology.　By Yun Jeong-hyeon (clareyun@heraldcorp.com)

[DISCLOSURE] Sewon Cellontech (091090) announced on Oct. 20 that it has acquired a patent for a technology that can increase the yields of collagen. The company added that tissues in animals after exposure to radiation as a sterilization method last longer, which ultimately increases the collagen yield. By Yun Jeong-hyeon (clareyun@heraldcorp.com)

[THE INVESTOR]  Hancom Office software sales in the third quarter are estimated to have increased 10 percent on-year to 18.5 billion won (US$16.30 million) with the release of Hancom Office NEO 2016, according to Shinhan Investment on Oct. 21.Its subsidiary Itex, a PDF solution provider, is likely to have contributed 3.1 billion won to sales and helped drive top-line growth. The firm’s operating profit is projected to have increased 8 percent on-year to 7 billion won. The SG&A cost-to-sales rati

[THE INVESTOR] The number of foreigners working in South Korea made a slight increase this year from a year earlier, government data showed on Oct. 20.Of the more than 1.42 million foreign residents aged 15 or older, about 962,000 were working as of May this year, according to the data provided by Statistics Korea. Their employment rate reached 67.6 percent, down 0.7 percentage point from a year earlier.Their jobless rate stood at 4.2 percent in May, also down 0.7 percentage point from last year

[THE INVESTOR] South Korea will host a seminar next week to discuss more cooperation with the Organization for Economic Cooperation and Development it joined two decades ago, the Foreign Ministry said on Oct. 20.The seminar will be held on Oct. 20. in Seoul, with around 150 government officials, economic experts and OECD representatives, including its Secretary-General Angel Gurria on hand, according to the ministry. The event comes in time for the 20th anniversary of South Korea‘s joining of th

[THE INVESTOR] Hyundai Motor on Oct. 20 won a class action lawsuite filed by a group of 1,890 consumers over the alleged exaggeration of the gas mileage of an SUV model.The Seoul Central District Court said that as the result of the Transport Ministry’s fuel efficiency test on the Santa Fe 2-liter diesel SUV has not been fully substantiated, the automaker cannot be seen as having violated the Automobile Management Act.Under the act, the mileage gap between what an automaker claims and the actual

[THE INVESTOR] A law and administrative regulations on the local banking industry will be revised for banks to easily tap into insurance and investment-related businesses, and open new offices abroad, the financial regulator said on Oct. 20.The move is meant to give local banks more autonomy in expanding their businesses and help raise their competitiveness, according to the Financial Services Commission.Under the planned legislation, which needs the National Assembly‘s approval, banks will be e

[DISCLOSURE] Caregen (214370) reported on Oct. 20 that it has obtained a patent for its new peptide as an effective treatment for obesity and diabetes. The peptide causes blood sugar levels to remarkably drop and helps break down fat, which will also have significant potential for addressing diabetes. New oral peptide drugs for treating diabetes are currently being evaluated in pre-clinical tests.By Yun Jeong-hyeon (clareyun@heraldcorp.com)