[THE INVESTOR] Amid the widening investigation into Lotte Group, a fresh round of fraternal conflict between Lotte chairman Shin Dong-bin and his brother Shin Dong-joo is expected to take place on June 25 at a shareholders’ meeting of the Tokyo-based Lotte Holdings that controls Hotel Lotte, the de facto holding company of its Korea operations. Shin Dong-joo is expected to propose a motion to oust his brother and incumbent chairman Dong-bin who controls Lotte’s Korea and Japan operations. Shin D

[THE INVESTOR] Global automakers are seeking to transform from mere car manufacturers into transportation providers -- offering diverse auto-related services such as car-sharing and ride-hailing services -- amid growing concerns that self-driving technology may bring down car sales in the future.  This year, several auto giants have aligned themselves with tech firms or announced mobility plans, although Korean automakers including Hyundai Motor and Kia Motors have not yet made any big deals in

[THE INVESTOR] Wine has found a new place in the lifestyles of Korean consumers who increasingly see it as a casual drink for everyday enjoyment due to falling prices and growing accessibility.According to the Korea International Trade Association, wine imports last year reached $189.8 million, surpassing the value of imported whisky for the first time. New trends indicate that much of the growth was fueled by Korean consumers’ increasing preference for affordable wines to enjoy at home. The vol

[THE INVESTOR] There is a saying, “Money does not grow on trees.” One has to work really hard to earn it.But making an honest buck in this age of low interest rates and low growth has become harder than ever.It is not as if Koreans do not work hard. In fact, Koreans work the longest hours after Mexicans among member countries of the Organization for Economic Cooperation and Development. Koreans worked 2,124 hours in 2014, according to the latest data. Working long hours does not necessarily mean

[THE INVESTOR] U.S.-based ride-hailing service provider Uber Technology’s employees attended Hyundai Motor’s autonomous technology seminar Wednesday, the automaker confirmed, raising speculation of the two firms’ possible tie-up in the self-driving sector. “It is true that Uber’s working-level employees have joined a two-day autonomous technology seminar held in Hyundai’s research center,” a Hyundai Motor spokesperson told The Korea Herald by phone. The closed-door seminar was held together with

[THE INVESTOR] Samsung Electronics is expected to launch another budget smartphone Galaxy On7 in Korea in the coming weeks via SK Telecom, sources said on June 15. 　The model is the Korean tech giant’s cheapest smartphone that is sold at 10,190 rupees ($153) exclusively in India currently. 　Launched in November, the phone features a 5.5-inch HD Display, a 13 million pixel rear camera, a 5 million pixel front camera and a 3000mAh battery. Samsung's cheapest smartphone Galaxy On7Sources said the K

 [THE INVESTOR] Lotte Group chairman Shin Dong-bin on June 14 (U.S. time) pledged to push through with the now-stalled plans for Hotel Lotte’s initial public offering by the end of this year.“This does not indicate an indefinite delay,” Shin told reporters at the groundbreaking ceremony for a joint venture chemical plant in Lake Charles, U.S. “This was a promise made to the public, and it will be followed through.  Lotte Group chairman Shin Dong-binOn June 10, local prosecutors launched an inves

[THE INVESTOR] Samsung Electronics plans to inject an additional up to 2.5 trillion won ($2.1 billion) to beef up memory chip productions at its plant in Hwaseong, Gyeonggi Province, the Electronic Times reported on June 14. 　With the new investment plan, the Korean tech giant aims to strengthen its leadership in the soaring memory chip market. According to the newspaper, the funding will be used to produce a monthly 40,000 3D NAND Flash memory chip wafers. The plant is expected to start operati

[THE INVESTOR] Samsung SDI, which saw a whopping 700 billion won ($600 million) in operating losses in the first quarter, is expected to improve profitability in the second quarter, largely buoyed by growing demand for automotive batteries. On June 14, Kiwoom Securities estimated that the company’s operating loss could be reduced to stand at about 33.9 billion won for the April-June period. “As marketability is improving in the electric vehicle market, Samsung SDI’s battery business is also expe

[THE INVESTOR] The Phantom 4 is the newest drone model by Chinese tech firm DJI. It is based on the DJI’s classic Quadro-Copter design of the Phantom series, with an X-shaped body, four propellers and a high-end camera mounted in a gimbal within a robust landing gear below the main body. Compared to the previous model Phantom 3, the body is streamlined. It has no edges or openings and the base plate of the gimbal with the SD card slot is integrated into the main body. The downward-looking sensor

[THE INVESTOR] Samsung Electronics’ next flagship smartphone, tentatively dubbed Galaxy S8, is likely to come with a 5.5-inch, 4K UHD display, a market research firm said Wednesday. 　The Korean tech giant would become the first smartphone-maker to pack 4K resolution into its flagship smartphone, even though Sony last year released the Z5 Premium with such a panel. “Samsung Display showcased a 5.5 ultra-high definition 4K display with a pixel density of 806 ppi for virtual reality devices at the

South Korean prosecutors said Monday they had summoned an executive of Audi Volkswagen Korea for questioning on charges against the automaker that include selling cars that had not received required certification and fabricating test results on fuel efficiency. The executive in charge of certification of the Korean arm is reportedly to be summoned at least three to four times for testimony. During the investigation, he may become a suspect, industry watchers said. This is the first probe into th

[THE INVESTOR] Samsung Display’s shipments of organic-light emitting diode panels have more than doubled over the past year, as global smartphone manufacturers, including those in China, are increasingly adopting OLED displays. UBI Research, a local market research firm that specializes in OLED, estimates that Samsung’s OLED shipments have soared to about 86.7 million units in the first three months of this year. The research results were obtained by The Investor, an online English business webs

Tesla Motors, upbeat on soaring orders for its new $35,000 full-electric family sedan Model 3, seems to have already secured an upper hand in its upcoming talks with suppliers. 　Since the much-hyped prototype was unveiled in April, preorders have surged to 276,000 in just three days. Deliveries will start late 2017 but long lines at Tesla stores were reminiscent of the crowds at Apple stores for early models of the iPhone. (Tesla)Now parts makers, especially those making the key parts such as ba

Austria came close to becoming the first European Union country to elect a far-right head of state as postal ballots on Monday decided a knife-edge presidential vote in favour of the anti-immigration candidate‘s environmentalist opponent.The results were awaited nervously by governments across Europe, where populist anti-immigration parties have surged over the past year on concerns over a refugee influx, continued weak economic growth and high unemployment.After the election was too close to ca

 

Samsung Electronics plans to announce a new structure of employee titles next month that aims to promote talented workers based on performance regardless of age or years of experience. According to industry sources Sunday, a task force team within the human resource management division has worked on the revision since the company’s announcement of a new corporate vision “Start-up Samsung” in March.  Samsung has maintained a typical structure of five employee ranks that is common at other Korean

Samsung Electronics further widened the gap with runner-up Apple in terms of smartphone sales in the first quarter.According to research firm Gartner, Samsung’s smartphone sales were slightly up at 81.2 million units in the first three months of the year, making it the world’s largest smartphone-maker and earning it 23.2 percent market share. Its archrival Apple sold 51.6 million smartphones, which compared to 60.2 million iPhones sold in the same period a year ago. Its market share was down fro

A former Samsung Electronics worker who contracted leukemia after working at the company’s chip plant, urged Banolim, an advocacy group that has led related compensations talks, to stop its politically-intended fight and take more care of cancer-stricken victims and their families. “About 150 people have applied to get compensations and some 110 of them have been compensated. We think the compensation process is nearing its end,” Kim Eun-kyung said Wednesday in her message posted on a Samsung we

Saudi Arabia replaced its veteran oil minister with a close ally of the king’s increasingly influential son, Deputy Crown Prince Mohammed bin Salman, as the world’s largest crude exporter embarks on an economic overhaul designed to make it less reliant on energy.After more than two decades in the post, Ali Al-Naimi, who’s been the central player in scores of OPEC meetings and steered global crude markets through several boom-and-bust cycles, will be succeeded by Khalid Al-Falih, currently chairm