[THE INVESTOR] LG Uplus, the nation’s third-largest telecom carrier, said on Aug. 1 its second-quarter net profit increased 12.8 percent from a year ago largely due to cost-cutting efforts on marketing activities. Net profit was 130.7 billion won (US$117.40 million) for the April-June period. Net profit was also 8.2 percent up to 2.87 trillion won on-year. The company said it benefited from the government’s law revision that bans hefty customer subsidies for their new phone purchases, reducing s

[THE INVESTOR] Samsung Electronics' logic chip and contract making division System LSI has started supplying iris image sensors for the company’s upcoming Galaxy Note 7 that will make its global debut on Aug. 2.  Samsung Galaxy Note 7 unpack invitation stresses iris scanner as one of the phone’s key features.The iris scanner allows users to lock or unlock their phones in less than a second. It is considered a faster and more secure way compared to current options such as pattern unlock and finge

[THE INVESTOR] Samsung Electronics is continuing talks with LG Innotek, the parts unit of LG Group, to use the company’s “2 metal chip-on film” for its flagship Galaxy S phones, the Chosun Ilbo reported on July 31. Samsung uses chips and display panels from SK hynix and Chinese rivals, but it is rare for the company to use parts from its cross-town rival LG. The 2 metal chip-on film is used for bonding a display screen with the circuit board or the chipset in a smartphone. Because it is more fle

[THE INVESTOR] Samsung SDI, the battery-making unit of Samsung Group, said on July 28 that the company sees little impact from its recent battery woes in China where the government is tightening subsidies for electric vehicles. “It is true that we saw weaker sales in China than planned but most of the market uncertainties will be removed in the latter half of this year,” said a company official during a conference call on July 28. “There is clear demand for high quality batteries among Chinese c

[THE INVESTOR] The Constitutional Court on July 28 ruled that it is constitutional to include journalists and private school officials to be subjected to the nation’s new antigraft law on public officials. 　Following the ruling, the new law, more widely called the Kim Young-ran Act, is expected to take effect from Sept. 28 as planned. 　　　

[THE INVESTOR] South Korean Internet giant Naver on July 28 posted its second-quarter operating profit of 272.7 billion won (US$240 million), up 44 percent from a year ago, largely driven by soaring overseas sales. Revenue soared 26.3 percent to 987.3 billion won. 　　

[THE INVESTOR] Samsung Electronics on July 28 posted its second-quarter profit of 8.14 trillion won (US$7.2 billion), up 18 percent from a year ago. Revenue soared 5 percent to 50.94 trillion won. 　

[THE INVESTOR] LG Innotek, the car parts unit of LG Group, on July 27 posted its second-quarter earnings loss of 34 billion won (US$30 million) in the April-July period. Revenue stood at 1.12 trillion won.

[THE INVESTOR] Samsung C&T, a construction and trading affiliate of Samsung Group, said on July 27 it posted second-quarter operating profit of 176.81 billion won (US$158.88 million), reversing a loss from the previous quarter. The company reported sales of 7.05 trillion won, up 8.7 percent on-quarter, and the net profit was at 134.58 billion won, the company said in a regulatory filing on July 27.

[THE INVESTOR] SK hynix said on July 26 plans to elevate its production capacity of 3-D NAND flash chips, used for long-term storage in smartphones and computers, to some 30,000 units by the end of this year. “We will focus on producing 36-layer (NAND) chips in the third quarter and beef up production of 48-layer chips from the fourth quarter,” the company said during a conference call. The world’s second-largest memory chipmaker after Samsung Electronics posted a second-quarter operating profit

[THE INVESTOR] SK hynix, South Korea's No. 2 chip maker, on July 26 posted second-quarter operating profit of 452.9 billion won (US$390 million), down 67.1 percent from a year ago. Revenue also declined 15 percent to 3.9 trillion won during the same period. By Lee Ji-yoon (jylee@heraldcorp.com)

[THE INVESTOR] South Korea’s top two electronics parts makers -- Samsung Electro-Mechanics and LG Innotek -- are betting big on surging demand for dual-camera smartphones. The parts units of Samsung and LG have been somewhat struggling in recent months amid cost-cutting pressure from smartphone manufacturers in a saturated market. But as their clients are focusing more on premium features especially on cameras, their dual-camera module business are recently gaining a fresh momentum. LG G5 that f

[THE INVESTOR] The binding bid for ING Life Insurance, launched by the nation’s largest private equity fund MBK Partners, will start early next month, industry sources said July 25. Morgan Stanley, the lead manager for the sale, has closed the preliminary bidding for the fifth largest life insurance firm in Korea, and will carry out the bidding for what is said to be the largest M&A deal in the first half of this year. One of the three Chinese companies, Hong Kong-based investment manager JD Cap

[THE INVESTOR] Samsung Electronics said on July 25 it has paid out a combined 15.25 billion won (US$13.4 million) as incentives to the company’s 95 contractors supplying parts for its chip products. The incentives will be immediately distributed to some 10,000 workers working at the suppliers. Samsung offers two types of incentives to suppliers for improved productivity and safety measures. Since last year, the Korean tech giant is offering incentives twice a year to help boost the local economy

[THE INVESTOR] Wolfgang’s Steakhouse in Seoul is an unusually large restaurant, especially for the upscale Cheongdam-dong area of Seoul. Step inside, past the mahogany reception desk and the main dining hall seems to spread out endlessly, with countless tables covered in white tablecloths. Overhead, private dining rooms line the second floor. Peter Zwiener, head of Wolfgang’s Steakhouse / Wolfgang‘s Steakhouse“Our Seoul branch is about twice the size of some of our other restaurants,” said Peter

[THE INVESTOR] South Korean retailers are capitalizing on the explosive popularity of Nintendo’s augmented-reality mobile game “Pokémon Go” with new products and services targeting local Pokémon game enthusiasts and fans.From a sudden rise in consumer spending at select Pokémon-appearing cities in Korea to the launch of Pokémon-inspired hotels, tour packages and goods, the smash-hit game appears to be leaving a notable imprint on the local retail sector.“Pokémon Go,” produced jointly by Nintendo

[THE INVESTOR] South Korea’s top five conglomerates have grown even bigger in terms of assets they hold and revenue they produce in the past three years, but their contribution to creating new jobs is lagging, a report showed Sunday.According to conglomerate tracking research firm Chaebul.com, the combined assets of the top five largest companies -- Samsung, Hyundai Motor, SK, LG and Lotte -- recorded about 930 trillion won ($817 billion) last year, a 15.5 percent rise from 2012. This accounted

[THE INVESTOR] Beginning Aug. 1, South Korea will extend its trading hours for its equities, derivatives, gold futures and foreign exchange markets to boost its financial market status in line with the Morgan Stanley Capital International standards.The Korea Exchange, the country’s quasi-sovereign stock market operator, said Sunday that the stock and bullion markets’ trading hours will be extended by 30 minutes, enabling investors to buy and sell them between 9 a.m. and 3:30 p.m. Foreign exchang

[THE INVESTOR] JEJUDO ISLAND  ㅡ  To eke out a breakthrough in the current economic stalemate, Korean businesses and the country as a whole need to make bold choices about the future, embracing the risk of failure, Chang Ha-joon, the world-renowned Korean economist said. “The industries that form the backbone of Korea’s economy now came to be as such in the ’70s, ’80s or ’90s at the latest. While those industries are now facing difficulties, challenged by latecomers, Korea has failed to make the

[THE INVESTOR] Renault Samsung Motors is a curious name for many foreign drivers even though they may be well aware that Samsung is not making cars. Back in 2000, right after the Asian financial crisis hit the nation hard, France’s Renault Group acquired then troubled Samsung Motor from Samsung Group. The deal price was 615 billion won ($562 million). Despite the sell-off, Samsung Card, the credit card unit, purchased a 19.9 percent stake in the company and has maintained the share until now. “F