The Korea Herald

Hyundai Heavy’s revival plans will put it in the clear: Samil PwC

Jul 26, 2016

[THE INVESTOR] Hyundai Heavy Industries will be in the clear should its restructuring measures be executed according to plans, Samil PwC concluded on July 26. Samil PwC has been reviewing Hyundai Heavy’s plans on the request of the shipbuilder’s major creditors including the Export-Import Bank of Korea since May 23. Hit by difficulties, Hyundai Heavy drew up restructuring plans that would cut costs and streamline its businesses. Under the plans, the company will lower its debt by about 2 trillio
Opposition party seeks to introduce US-style class action

Jul 26, 2016

[THE INVESTOR] Opposition parties are seeking the introduction of US-style class action in South Korea prompted by Volkswagen’s emissions scandal. On July 26, progressive heavyweight Rep. Park Young-sun of the main opposition The Minjoo Party of Korea submitted a proposal for the introduction of “class action act.” Rep. Park Young-sun(right) of The Minjoo Party of Korea proposes the introduction of class action act. / The Investor(Park Hae-mook) “Like the Volkswagen case, (cases in which) it is
Hyosung posts record Q2 figures

Jul 26, 2016

[THE INVESTOR] Hyosung corp on July 26 posted record second-quarter operating profit buoyed by improving performance across its portfolio.The company’s regulatory filing showed that its operating profit jumped 29.8 percent from a year ago to come in at 331 billion won (US$291.49 million). According to the company, this is the first time its quarterly operating profit crossed the 300 billion won mark. Aided by the second-quarter figures, the company’s operating profit for the first six months of
Unlike Japanese rivals, Korean firms investing more in China

Jul 26, 2016

[THE INVESTOR] Korean firms have been increasing their stakes in the all-important Chinese market, with their combined investment exceeding 3.24 trillion won (US$2.84 billion) in the first half of this year, government data showed on July 26. The figure is up 17.8 percent from a year ago. For the year, total investment is expected to surpass US$5 billion -- the highest-ever since 2004. Japanese companies, on the other hand, reduced investment in China from US$73 billion in 2012 to US$3.21 billio
Hyundai Mipo wins contract for car ferry

Jul 26, 2016

[THE INVESTOR] Hyundai Mipo Dockyard announced on July 25 that it has won a contract for a car ferry. The vessel will be delivered to Weidong Ferry, a South Korea-China joint venture, in September 2018. Hyundai Mipo Dockyard and Weidong Ferry hold a signing ceremony on July 22. / Hyundai Mipo DockyardThe ferry will operate on the Incheon-Qingdao route, the company said. It will be designed to carry up to 724 passengers, and have a cargo capacity equivalent to 320 standard 20-foot shipping contai
SK hynix profit falls 67.1% on weak chip demand

Jul 26, 2016

[THE INVESTOR] SK hynix, the world’s second-largest memory chipmaker after Samsung Electronics, posted a plunge in its second-quarter profit as chip prices continued to decline due to weaker demand for smartphones and PCs. Operating profit fell 67.1 percent to 452.9 billion won (US$390 million), the lowest in more than three years, during the April-June period. Revenue also dropped 15 percent to 3.9 trillion won. SK hynix headquarters in Icheon, Gyeonggi ProvinceDespite increased shipments of DR
S-Oil posts record-high operating income in H1

Jul 26, 2016

[THE INVESTOR] South Korea’s third-largest oil refiner S-Oil Corp. said its second-quarter net profit rose 3.8 percent from a year earlier on improving refining business.Saudi Arabian oil Company Aramco has 63.41% of S-Oil's stakes through A.O.C.B.V(Aramco Overseas Company B.V.). Operating income rose 6.1 percent to 643 billion won, up 6.1 percent. For the first half of the year, the figure stood at a record-high of 1.13 trillion won (US$993.15 million) on a consolidated basis, the company said