LG Electronics (066570) 53,500 won ▲600 (2.27%)SK hynix (000660) 38,150 won ▲250 (1.32%)LG Chem (051910) 251,000 won ▲1,500 (1.2%)Kia Motors (000270) 42,950 won ▲250 (1.17%)Lotte Chemical (011170)  274,000 won ▲1,500 (1.1%)*Based on foreigners’ net buyingBy HeRo (hero@heraldcorp.com)This article is produced by the algorithm developed by the artificial intelligence developer ThinkPool in collaboration with Herald Corp.

[THE INVESTOR] Lancy Group, the Chinese apparel company, plans to set up a joint venture with Korea’s KEB Hana Bank to enter the project financing market both in China and Korea, local news service Edaily reported on Sept. 7. According to the report, Hana Bank will acquire a 25 percent stake in Lancy’s 100 million yuan (US$15 million) affiliate that is expected to be renamed as a JV between the two firms.  Screen capture of Lancy Group’s English websiteThe bank will also has the right to appoint

[THE INVESTOR] LG Electronics mobile chief Cho Juno shrugged off the impact of its cross-town rival  Samsung Electronics' Galaxy Note 7 recall on the sales of the company’s new big-screen phone V20. “I’m not sure whether the Galaxy Note 7 recall is a boon for us or not. What’s important is how our product is recognized by consumers,” he said at the phone’s launch event held in Seoul on Sept. 7.  LG Electronics mobile chief Cho Juno speaks at the V20 launch event held in Seoul on Sept. 7. Lee San

[THE INVESTOR] Shinhan Finance Investment on Sept. 7 said that LG Electronics’ third-quarters earnings would miss estimates as the company continues to lose money on sluggish smartphone sales. The securities firm predicted the company’s operating profit during the July-September period to plunge 45 percent to 321 billion won (US$290 million) from the previous quarter. The average market estimate was 382 billion won. For the fourth quarter, the company’s operating profit was estimated to be sligh

[THE INVESTOR] Samsung Electronics is expected to seek a turnaround with its secret weapon “Onyx Black” Galaxy Note 7 in winning back customers on its home turf after a massive recall of the big-screen smartphone globally. According to industry sources on Sept. 7, the Korean tech giant will launch the black-colored Note phone as planned in October in Korea. For the phone’s Aug. 19 launch, the company excluded the black shade from the first launch models in Korea possibly to respond to Apple’s iP

[THE INVESTOR] Shares of LG Chem declined 5.8 percent on Sept. 6 after news reports about its planned merger with its drug-making sister firm LG Life Science. The price closed at 251,500 won (US$227), down 5.81 percent from the previous trading day, with almost 1 trillion won in the company’s market value evaporating. While LG Chem shares closed weaker on concerns among investors about merger costs, shares of LG Life Science saw its share price soar 5.1 percent. The two firms confirmed related t

[THE INVESTOR]  Lotte Group founder Shin Kyuk-ho’s common-law wife Seo Mi-kyoung is expected to be forcibly summoned by prosecutors amid their ongoing investigation into the retail giant’s snowballing corruption scandal. According to prosecutors on Sept. 6, they are considering canceling the passport of the 57-year-old Seo who is currently staying in Japan. She has been suspected of evading inheritance taxes, about 600 billion won (US$540 million), when she received Lotte Holdings shares from hi

[THE INVESTOR] BlackBerry plans to launch its first Android OS smartphone Priv in Korea this month after its three-year hiatus in the market, ZDNet reported on Sept. 6. Damian Tay, the company’s senior director of Asia-Pacific product management, is expected to attend the launch event planned in Seoul on Sept. 20, the online media said. “We are not setting up a Korean branch but this is the first launch since our withdrawal,” a BlackBerry official was quoted as saying. BlackBerry, then Research

[THE INVESTOR] Amazon Web Service, the cloud computing division of Amazon.com, plans to build a new cloud innovation center in South Korea’s southern port city of Busan in November. The Amazon-Busan Cloud Innovation Center is the company’s first facility to be set up outside its home turf. The facility, located within a college campus, will offer residential area, cloud infrastructure and cloud technology to startups based in Busan. The groundbreaking ceremony will be held on Sept. 7.By Lee Ji-y

[THE INVESTOR] Hanwha Investment and Securities on Sept. 6 cut its estimate of Samsung Electronics’ third-quarter operating profit to 7.7 trillion won (US$7 billion) from the previous 8.5 trillion won. The mobile business division is expected to see a 900 billion won reduction in operating profit following the Galaxy Note 7 recall worth 700 billion won and the sales suspension for the two weeks,” said Lee Soon-hak, an analyst at the securities firm. “But the company’s chip business division will

[THE INVESTOR] LG Chem, the chemical unit of LG Group, is seeking a merger with its drug-making sister firm LG Life Science for business synergies. According to news reports on Sept. 6, the two firms will put the merger plan up for vote during their separate shareholders meetings scheduled to be held on Sept. 9. An LG Group official confirmed related talks were underway but said no details, including the timing, were decided. On the day, the Korean Exchange asked the two listed firms to make an

[THE INVESTOR] Prosecutors have summoned Lotte Group founder Shin Kyuk-ho for questioning on Sept. 7 amid their ongoing probe into the retail giant’s snowballing corruption scandal. The ailing Lotte patriarch, 94, said he planned to answer the summons but asked prosecutors to visit him citing his deteriorating health condition. “We are adjusting the schedule with Shin’s doctor,” a Lotte official was quoted as saying by a local news outlet on Sept. 5. Shin is suspected of evading donation taxes w

[THE INVESTOR] Shares of Samsung SDI declined further on Sept. 5 after Samsung Electronics’ recall plan of all Galaxy Note 7 smartphones using the company’s batteries announced last week. The price closed at 105,500 won (US$95), down 2.6 percent from trading on Sept. 2. Earlier in the day, local news outlets reported that Samsung has decided not to use Samsung SDI batteries for the Note phone. The company supplied batteries for 70 percent of the Note phones, while China’s Amperex Technology supp

[THE INVESTOR] Partnership talks between Tesla Motors and KT, the nation’s No. 2 telecom carrier, may have failed ahead of the carmaker’s planned entry into the Korean market in November. According to Asia Economy Daily on Sept. 5, the two firms recently failed to narrow differences on specific deal conditions. “It seems difficult for them to resume the talks,” an unnamed source was quoted as saying by the local news daily. Tesla’s first Korea showroom under wraps at Starfield Hanam, Gyeonggi Pr

[THE INVESTOR] Samsung Electronics is recalling about 1 million units of its Galaxy Note 7 smartphone sold globally after a series of reports on battery explosions since its launch on Aug. 19. The company said all the phones will be exchanged with new ones regardless of battery functions. Considering inventories, the recall will affect some 2.5 million Note phones produced, it added. “We have concluded that defective battery cells have caused the recent explosions. Among 1 million units sold, 24

[THE INVESTOR] Samsung Electronics is recalling all Galaxy Note 7 phones sold globally, exchanging the phones with new ones regardless of battery functions. The Korean tech giant announced the plan on Sept. 2 in Seoul after a series of battery explosions since the phone's launch on Aug. 2. About 1 million units have been sold globally. The company said it has found 24 phones with faulty batteries in its recent investigation into the explosions. By Lee Ji-yoon (jylee@heraldcorp.com) 

[THE INVESTOR] Samsung Electronics will hold an urgent press meeting in Seoul at 5 p.m. (local time) on Sept. 2 to issue a recall of the company’s latest Galaxy Note 7 smartphone. The company said mobile chief and President Koh Dong-jin will explain the exact cause of exploding batteries along with a detailed recall plan. Samsung Electronics mobile chief Koh Dong-jinSamsung has halted the phone’s shipments since early this week following a series of reports on the phone’s explosion while chargin

[THE INVESTOR] MBK Partners, the nation’s largest private equity fund, is seeking to create a new fund worth up to 4 trillion won (US$3.6 billion), Korea Economic Daily reported on Sept. 2. The new funding -- the fourth of its kind -- comes after the third one worth 3 trillion won was created in 2013. MBK Partners Chairman Kim Byung-jooThe newspaper reported that MBK’s top executives, including Chairman Kim Byung-joo, are contacting foreign limited partners to raise capital. The company declined

[THE INVESTOR] Samsung Electronics has decided to delay the Europe launch of its latest smartphone Galaxy Note 7 amid growing concerns about exploding batteries. The Korean tech giant had planned to launch the new Note phone in European countries such as the UK and France on Sept. 2. But the plan has been suspended as the company is considering recalling all the phones sold globally after a series of explosion reports possibly due to faulty batteries. Samsung had pinned high hopes on the Europe