[THE INVESTOR] POSCO Chairman Kwon Oh-joon on Aug. 31 pledged that the nation’s No. 1 steelmaker will speed up the ongoing restructuring process to substantially complete it by March next year, when his term expires. After the revamp, he hinted at new investments to produce more lucrative automotive sheets and other value-added materials such as lithium, nickel and titanium.  POSCO Chairman Kwon Oh-joon (left) at the completion ceremony for the steelmaker’s new automotive steel plate plant in Th

[THE INVESTOR] NH Investment & Securities, the nation’s second-largest brokerage, said on Aug. 31 it has agreed on a strategic partnership with Evercore, the US-based investment bank, to expand its global reach. The two firms said they have extended their strategic alliance for cross-border mergers and acquisitions advisory services for an additional two year period. Under the legally binding alliance, they will share client information and profits from achievements. Established in 1995, the New

[THE INVESTOR] Hana Financial Investment on Aug. 31 said that Korean Air, the flagship unit of Hanjin Group, could elevate profitability in the rest of the year following creditors’ decision to put its ailing sister firm Hanjin Shipping under court receivership. The nation’s No. 1 air carrier together with other Hanjin companies has poured resources into helping out the cash-strapped shipper. “This year, Korean Air’s earnings could surge 33 percent to a record 1.2 trillion won (US$1.07 billion)

[THE INVESTOR] Faced with the threat of hefty penalties and a possible deal-breaker, Korean automotive parts makers are struggling to keep wraps on potential supply talks with US-based electric car maker Tesla Motors. Just recently, a major Seoul-based supplier was slapped with a US$1 million penalty by Tesla for breach of a non-disclosure agreement, while several others received verbal warnings for revealing information to the media here about a possible deal. Tesla Motors CEO Elon MuskOfficial

[THE INVESTOR] LG Electronics on Aug. 31 hinted at launching its upcoming premium smartphone V20 in India, a market that was excluded for the predecessor V10’s debut last year. “We have recently decided to launch the V20 in India. The launch will come within the month,” LG’s India chief Kim Ki-wan was quoted as saying by local newspapers. India is the world’s third-largest smartphone market after China and the US. Handset makers are upping their ante in the market not just with budget phones but

[THE INVESTOR]  Yello Mobile, a local mobile platform operator, on Aug. 30 said it is turning into an operating holding company, streamlining its affiliates before the planned initial public offerings of Yello O2O and Future Stream NetworkThe company said in a regulatory filing that it will merge with Yello Shopping Media, a mobile shopping portal operator, in which the company owns 100 percent stake, within the year. Established in 2013, Yello Mobile has been criticized for its complicated shar

[THE INVESTOR] KT, South Korea's No. 2 telecom carrier, on Aug. 30 launched its new live video streaming service dovido with aims to take on market leaders such as YouTube. The company said it will nurture the service as a global platform that attracts 200 million viewers from around the world by 2020. The dovido service allows users to film, edit and upload their own video contents. The service is also linked to a shopping site so that products in the videos can be purchased. “We will compete h

[THE INVESTOR] Samsung SDI, the battery-making unit of Samsung Group, said on Aug. 30 that it has picked Hungary as the final destination for its first European production base. This is the company’s third battery plant globally following two in Korea and China. Citing cost and regulatory benefits, the company said, it will refurbish its own Braun tube production plant in God, a small town some 25 kilometers north of Budapest, to establish new battery production lines in the country. Rendering i

[THE INVESTOR] Hanwha Group on Aug. 30 denied a news report that it was considering acquiring the defense business of cash-strapped shipbuilder Daewoo Shipbuilding & Marine Engineering. “We have never considered the acquisition,” the defense giant said in a regulatory filing. Earlier in the day, a local news daily, reported that Hanwha has recently started a feasibility study on the possible acquisition, including business synergies and the bidding price. The ailing shipbuilder logs about 1 tril

[THE INVESTOR] Mobileye, the Israel-based software developer that is working with BMW and Intel to develop self-driving cars, is eyeing Korea’s demand for assistance driving, an intermediate step toward the era of fully autonomous driving. The company has recently started supplying its advanced driver assistance systems to Korean taxi and rental car companies, said Park Seong-wook, head of Mobileye in Korea, in a recent interview with The Investor. “Until recently, our key customers used to be t

[THE INVESTOR] Hanwha Chemical's affiliate Hanwha Advanced Materials confirmed on Aug. 29 that it has failed to acquire Continental Structural Plastics, the US vehicle lightweight technology developer. The announcement comes days after the failed bid by LG Hausys, the materials unit of LG Group, another Korean firm that participated in the highly publicized bidding war estimated at about US$700 million early this month. Sources said their bidding prices were much lower than rivals such as German

[THE INVESTOR] HANOI, Vietnam -- LS Cable & System aims to double the sales of LS C&S Asia, which is to be listed in September, the company’s chief said last week. LS C&S Asia, the holding firm of the Korean cable-maker’s two Vietnamese units LS-VINA and LSCV, is slated to float its shares on South Korea’s main bourse KOSPI in September. LS Cable & System CEO Myung Roe-hyun (center) speaks at a press briefing in Hanoi last week.“(Through the listing), LS C&S Asia aims to generate 1 trillion won

[THE INVESTOR] Chemical and battery firm LG Chem said on Aug28 that it will focus on high value petrochemicals as part of its moves to boost its competitiveness and sales.With an aim to raise the sales of high value petrochemicals from the current 3 trillion won ($2.7 billion) to 7 trillion won by 2020, the company will expand the polyolefine products with its exclusive technology. This will lead to better quality of polyester and polypropylene, it said. By 2018, the company will inject 400 bill

[THE INVESTOR] Robo-adviser developers will be able to test their algorithms at a test bed run by Korean financial authorities, starting next month, and get approval for commercialization if the tests turn out to be successful. The Financial Services Commission said on Sunday that the regulator will open a test bed for software developers that have robo-adviser algorithms that aren’t yet authorized for commercialization. The FSC has been working to lift regulations related to investment advisory

[THE INVESTOR] After the US Federal Reserve signaled last week that it was close to raising its interest rates soon, economic policymakers in Seoul are on edge for its potential impact on Korea’s fragile economy. The heightened likelihood of the US tightening as early as next month complicates the job of the Bank of Korea, in particular, which already faces a tough balancing act between the desire to support the growth and worries over rising household debt levels. 123rfIn a globally anticipated

[THE INVESTOR] Imports of foreign cars were cut in half in July from the previous month in the wake of the emissions-rigging scandal of Volkswagen and Audi cars and the end of tax beneifts on new car purchases.　According to data from the Korea Automobile Manufacturers Association, a total of 17,897 vehicles were imported into the country in July, down 51 percent from June. The largest 6,432 vehicles were imported from Germany but the figure plunged 58 percent from a month earlier. Imports from t

[THE INVESTOR] South Korean banks’ credit exposure to cash-strapped Hanjin Shipping is estimated at 1.02 trillion won (US$915 million), industry data found on Sunday. But sources say the banks have already set aside sufficient provisions against the loans.The main creditor Korea Development Bank has credit exposure of 660 billion won to the nation’s largest shipping company, followed by KEB-Hana Bank with 89 billion won, NH Nonghyup with 85 billion won, Worri Bank with 69 billion won, KB Bank wi

[THE INVESTOR] SK Chemical, the chemicals unit of SK Group, said on Aug. 26 it has signed a deal with Bayer Korea to handle the sales and marketing of two of the drugmaker’s popular drugs -- Aspirin Protect and Adalat Oros -- to local hospitals from September.Aspirin Protect is a low-dose aspirin product that has become a common treatment for people at high risk for heart attacks or strokes. Dalat Oros is used to treat either high blood pressure or prevent angina, or chest pain. SK Chemical Pres

[THE INVESTOR] Hyundai Motor plans to unveil a new fuel-cell electric vehicle with a price tag of 60 million won (US$53,400), around half the price of the current Hyundai Tucson Fuel Cell. Considering government subsidies worth 27.5 million won, the purchase price for customers could be lowered to about 33.5 million won. Despite the cheaper price tag, the driving range will be extended from the current 415 kilometers on a single charge to 600 kilometers, the carmaker said. The world’s first mass

[THE INVESTOR] The Korean government on Aug. 24 postponed to make its final decision on whether to allow Google to bring detailed map data out of the nation.The joint reviewing body of government ministries and agencies delayed their decision, citing the importance of the issue for Google, the local internet market and society as a whole.“The reviewing body will further discuss with Google on the matter and make a discreet decision,” the state-run National Geographical Institute said in a statem