EconomyLoop
where regional business news becomes global to everyone

SKC Eyes Another Take-off on the Back of Foldable and PVB Films

SKC is pushing to take another leap forward by developing a series of new growth engines, including "transparent polyimide films" and "PVB films" which are used for vehicle glass. The growth of SKC, which developed PET films first in Korea in 1977... read more

 Korea Economic Daily2 minutes ago

     
Household Debt Hits Record High at 1,360 Tril. Won

Korea's household debt balance rose by more than 17 trillion won in the first quarter of this year, reaching an all-time high at 1,360 trillion won. According to preliminary data released by the Bank of Korea on May 23, the nation's household credit ... read more

 Korea Economic Daily9 hours ago
Japanese Mid-sized Sedans Makes Comeback in Korean Market

Japanese mid-sized sedans are making a comeback in Korea. Such models as the Nissan Altima and Honda Accord are showing signs of becoming top-selling import cars. According to the Korea Automobile Importers & Distributors Association on May 24, Japan... read more

 Korea Economic Daily9 hours ago
Kia Motors Unveils Premium Sports Sedan Stinger

Kia Motors made an official release of its brand-new premium sports sedan Stringer on May 23. Kia aims to sell 8,000 units of the Stinger this year and 12,000 next year. The Korean car maker plans to give a growth momentum to its sluggish sales in... read more

 Korea Economic Daily9 hours ago
[Market Insight] Lotte and Booyoung Vie to Acquire KEB Hana HQ Building

In a bidding war to sell off the headquarters building of KEB Hana Bank, which is considered the biggest deal in the first half of this year, Booyoung Group and Lotte Group have jumped in. The price tag for the deal is estimated at 800 billion won. ... read more

 Korea Economic Daily9 hours ago
Hanwha Techwin signs $177 mn aircraft engine parts supply contract with GE

Hanwha Techwin Co., a defense and aircraft engine parts unit of South Korean conglomerate Hanwha Group, has clinched a 198.9 ... read more

 Pulse News12 hours ago
S. Korea??s Q1 net external assets hits record high

South Korea has strengthened its net international investment position (NIIP) by recording $407.4 billion in the positive by the ... read more

 Pulse News12 hours ago
S. Korean suspends coverage on Novartis drugs for 6 months

The South Korea??s drug authority fined the Korean unit of Swiss drug giant Novartis 55.9 billion won ($49.6 million) and ... read more

 Pulse News12 hours ago
Korea??s new administration will make hiring top economic, social priority in five-year roadmap

The new South Korean government would place increased hiring as top economic and social agenda during its term, said Kim ... read more

 Pulse News13 hours ago
Doosan completes building the largest fuel cell plant in Korea

South Korea??s Doosan Corp. has completed the construction of the country??s largest fuel cell plant that has cost the company a ... read more

 Pulse News13 hours ago
IGIS Asset Management, NPS buy CJ Korea Express?? logistics center

South Korea??s leading real estate asset manager IGIS Asset Management Co. has acquired CJ Korea Express Co.??s logistics center ... read more

 Pulse News13 hours ago
Earnings prospects brighten for Doosan Corp. driven by electronics and industrial vehicle sales

South Korea??s Doosan Corporation has reported strong first-quarter earnings with a robust guidance for fiscal 2017, raising ... read more

 Pulse News13 hours ago
Foreign shoppers in Korean duty-free shops under 1 million in April

Non-Korean shoppers at duty-free shops across Korea dropped below the 1 million threshold last month. The last time the number ... read more

 Pulse News14 hours ago
GS Home Shopping to build new logistics center at $80 mn to beef up delivery

South Korea??s leading home shopping operator GS Home Shopping Inc. will set up a new logistics center near the country??s ... read more

 Pulse News14 hours ago
S. Korea to launch a public big data center within 2017

The new South Korean government has decided to set up a national organization that will manage and analyze big data amassed by ... read more

 Pulse News14 hours ago
Earnings growth stocks in spotlight in bullish Korean market

Investors are advised to look to earnings growth stocks whose first-half performance would outperform 2016 full-year income in ... read more

 Pulse News14 hours ago
New Craft Beer Brand to Turn Jeju Island into Beer Tasting Destination

In Jeju Island's northwest just 10 minutes' drive from the Hyeopjae Beach, there is a agri-industrial zone. That's where a new craft beer brewery will set up shop. The brewery, to be fully operational in August this year, is a joint achievement betwe... read more

 Korea Economic Daily18 hours ago
New Gov't Causes Controversy over New Sunshine Policy Remarks toward North Korea

Nominees to major diplomatic and security posts appointed by President Moon Jae-in made remarks such as the new government would allow exchanges with North Korea at civilian levels and resume the tour program to Mt. Kumgang and the economic partnersh... read more

 Korea Economic Daily18 hours ago
Higher Rubber Price Deals a Blow on Tire Industry

The overall performance of the global tire industry worsened in the first quarter of this year due to the rebound in the prices of raw materials such as natural and synthetic rubber that took an upturn in the latter half of last year after showing a ... read more

 Korea Economic Daily20 hours ago
President Moon Orders Release of 6 out of 16 Dammed Pools in 4 Rivers

President Moon Jae-in instructed on May 22 the release of six out of the total 16 dammed pools in Korea's four rivers, starting June 1. Kim Soo-hyun, Presidential Senior Advisor to Social Affairs, said, "We will decide whether to tear down the dam... read more

 Korea Economic Daily20 hours ago
Big 3 Ramen Makers Deep-dive into "Curry War"

Samyang Food launched the sales of "Curry-based Extremely Spicy Chicken-flavored Ramen" in the domestic market on May 22. This move followed the earlier releases of curry ramen by its rivals Ottogi (Curry Ramen) and Nongshim (Curried Rice Ramen). ... read more

 Korea Economic Daily20 hours ago
Interest Groups Take to the Streets in Droves after Moon Takes Power

Even after the presidential election was over, the public squares in Seoul's Gwanghwamun and Cheonggye are filled with protesters. But they are different crowds from those demanding President Park Geun-hye to step down or asking for truth for their c... read more

 Korea Economic Daily20 hours ago
Expectations Grow for Possible Reopening of Kaesong Industrial Complex

The South Korean manufacturers that undertook manufacturing operations at the Kaesong Industrial Complex in North Korea welcomed the Moon Jae-in administration's announcement that it would review the resumption of private exchanges between the two Ko... read more

 Korea Economic Daily20 hours ago
CJ Group to introduce new corporate culture that allows work-life balance

CJ Group, South Korea??s leading retail, food, and entertainment conglomerate, is about to lead changes in the Korean corporate ... read more

 Pulse News20 hours ago
S. Korea??s household credit reached an all-time high in Q1

South Korea??s household debt hit 1,359.7 trillion won ($1.2 trillion) in the first quarter of 2017, reaching all-time high, ... read more

 Pulse NewsYesterday
Taekwang Joins Race to Acquire Vietnam's No. 1 Logistics Firm

Taekwang jumped into a race to take over Gemadept, the largest logistics firm in Vietnam, as part of an effort to establish a secure logistics base in Southeast Asia. According to industry sources on May 22, Taekwang recently submitted a letter of in... read more

 Korea Economic DailyYesterday
Korea??s instant noodle sales drop amid rise in easy-to-cook meals

South Koreans are eating less of their all-time favorite quick meal - ramyeon or instant noodles - in the face of evolving and ... read more

 Pulse NewsYesterday
Kia Motors?? premium sports sedan Stinger hits Korean market

Stinger, South Korea??s second largest automaker Kia Motors Corp.??s latest high-performance sedan, has hit the Korean market on ... read more

 Pulse NewsYesterday
Korea??s home-gown genome analysis to be available via Baidu

Medizen Humancare, South Korea??s personal gene testing service provider, announced on Monday that it signed a definitive ... read more

 Pulse NewsYesterday
Posco??s reforms credited to new presidential chief of staff for policy Chang Ha-sung

Chang Ha-sung, an outspoken critic of South Korean chaebols chosen as President Moon Jae-in??s chief of staff for policy to ... read more

 Pulse NewsYesterday
Kakao Taxi users can hail cabs in Japan

Kakao, South Korea`s dominant mobile messaging app and on-demand service provider, will make its taxi-hailing service available ... read more

 Pulse NewsYesterday
??Stalking-horse?? bid poses turnaround option for distressed Korean companies

The so-called ??stalking-horse?? bids introduced in Korea early this year have been useful in raising the chance of revival for ... read more

 Pulse NewsYesterday
Personal mobility devices in high demand in Korea

Demand for personal mobility vehicles - not only electric scooters and motorcycles but also compact electric cars - are growing ... read more

 Pulse NewsYesterday
[Market Insight] Hyundai Marine & Fire Succeeds in Bond Demand Forecast

Subordinated bond demand forecast sessions held by Hyundai Marine & Fire and Dongbu Fire & Marine as part of a move to increase their capital base ahead of the mandatory introduction of IFRS17 (International Financial Reporting Standard 17) have attr... read more

 Korea Economic DailyYesterday
Hyundai E&C Expected to Benefit from New Government's Infrastructure Investment

SK Securities said on May 23 that Hyundai Engineering & Construction will likely benefit if the new government increases its spending on public infrastructure, with the balance of its orders won overseas is rising fast. The securities firm, however, ... read more

 Korea Economic DailyYesterday
Chinese Tourist Number Hits the Bottom...Shinhan Financial

Shinhan Financial Corp. said on May 23 that the number of Chinese tourists visiting Korea has hit the bottom and it is time for investors to pay renewed attention to duty-free and casino stocks. Sung Joon-won, analyst with Shinhan Financial Corp., sa... read more

 Korea Economic DailyYesterday
Lotte Group sibling feud resurfaces over reorganization plan

Shin Dong-ju, former vice chairman of Lotte Holdings Japan who had challenged his younger brother in a high-profile sibling feud ... read more

 Pulse NewsYesterday
Cheongwadae to Look into Four Rivers Project Policy Making Process...Claims of Political Vendetta May Arise

President Moon Jae-in has ordered an audit on the "Four Major Rivers Project," a massive government-led investment projects under the Lee Myung-bak administration. The audit's focus will be on how the decisions were made and how these were implemente... read more

 Korea Economic DailyYesterday
Prez. Moon Now Turns His Attention to Four Rivers Project

President Moon Jae-in has instructed to open up an audit on the so-called "Four Major Rivers Project," one of the biggest government-led investment projects under the Lee Myung-bak administration. It may turn into a massive investigation on leading p... read more

 Korea Economic DailyYesterday
Can the Gov't Boost Military Budget by 10 Tril. Won Next Year?

The Ministry of Defense plans to increase the military budget from next year as a way to cover the hike in salaries of soldiers. As pledged by the President Moon Jae-in, the ministry thinks it's possible to raise their salaries if the share of milita... read more

 Korea Economic DailyYesterday
Gov't Plans to Raise Salaries of Soldiers by 32% Next Year

The Korean government plans to raise the salaries of soldiers gradually, pledged President Moon Jae-in. According to military sources on May 21, the Ministry of Defense is now in talks with the Ministry of Strategy and Finance to raise the salarie... read more

 Korea Economic DailyYesterday
Food Industry Regains Vigor Again in Five Years

Until early this year, it was not easy to buy CJ Cheiljedang's home meal replacement (HMR) brand "Gourmet Hamburger Steak." The retail price of Gourmet Hamburg Steak was only 7,980 won (for 540-gram pack), although its taste is almost like that serve... read more

 Korea Economic DailyYesterday
New Korean chief of staff for policy denies unilateral clampdown on chaebols

Chang Ha-sung, South Korea??s new presidential chief of staff for policy and outspoken critic of chaebols like Samsung, said the ... read more

 Pulse News2 days ago
State-run Power Generators Pledge to Cut Fine Dust Level by 50% by 2022

Korea Electric Power Corp. and its power generation subsidiaries will spend 7.5 trillion won (US$6.71 billion) to reduce fine dust levels due to coal-based power plants. The state-run electric utility and power generators including Korea South-East P... read more

 Korea Economic Daily2 days ago
13 Out of 20 Ships Ordered by Korean Shipping Firms Built in China

Korea's shipping companies ordered a total of 20 ships so far this year, Among them, 13 would be built by Chinese shipyards. The share of domestic construction in the newbuilding orders placed by local shipowners stood merely at 35 percent, far lower... read more

 Korea Economic Daily2 days ago
Power Generation Market Paradigm Shift Kickstarted...NH Investment

NH Investment & Securities said on May 22 that a process of changing the paradigm in the electric power market from efficiency to environmental friendliness and safety has been under way since the new administration's launch and that it expects the s... read more

 Korea Economic Daily2 days ago
Samsung C&T Stock Hits Bottom...Construction Sector Expected to Recover

HI Investment & Securities said on May 22 that the stock of Samsung C&T has hit the bottom and the company's stock price would rebound as its construction sector recovers from a downturn. But the securities house downgraded its target price from 300,... read more

 Korea Economic Daily2 days ago
Special Envoy Song Young-gi Set to Visit Russia to Meet Prez. Putin

Song Young-gi, a lawmaker of the ruling Minjoo Party, will leave for Russia on May 22. He is one of the last four special presidential envoys dispatched by newly elected President Moon Jae-in to major countries including the United States, China, Jap... read more

 Korea Economic Daily2 days ago
Korea's Import of Iranian Crude Oil Soars 105% Last Year

Korea's oil-refining and petrochemical industries, which achieved record-breaking results in the first quarter of this year with more than 4 trillion won operating profits, are rushing to import crude oil from Iran. Compared to that produced in ot... read more

 Korea Economic Daily2 days ago
Korea??s Daewoo Development consortium bidding for Sambu Construction

South Korea??s Daewoo Development Co., Ltd. confirmed it would be making a final bid for bigger domestic rival Sambu ... read more

 Pulse News2 days ago