[THE INVESTOR] DASAN Network Solutions has signed a memorandum of understanding with a public broadband infrastructure firm in India to expand Internet connectivity in the state of Andhra Pradesh, the DASAN Networks affiliate said on July 4.Under the agreement, DASAN Network Solutions and Andhra Pradesh State Fibernet will create a joint venture for producing broadband equipment. The two partners will also collaborate to boost the state’s Internet penetration rate to 30 percent from the current

[THE INVESTOR] The number of foreigners visiting South Korea on cruise ships came in at 720,000 in the first half of the year, rising 88 percent from a year earlier, government data showed on July 4.According to the Ministry of Oceans and Fisheries 720,000 foreign tourists arrived by cruise ship on 305 occasions during the first six months of the year. The ministry projects that the number for the year will break the 1.5 million mark, and rise to 2.2 million in 2017.By port, Jeju Port saw the la

[THE INVESTOR] Jeju Air, Korea’s largest low-cost carrier, will launch new routes and expand the number of airplanes in the third quarter to meet demand in the busiest time of the year. The air carrier on July 20 will launch three new routes leaving from Incheon International Airport. They are to Sapporo in Japan, Kota Kinabalu in Malaysia, and Phuket in Thailand, the company said on July 4. With the new addition, Jeju Air will serve six Japanese cities, including Tokyo, Osaka, Nagoya, Fukuoka,

[THE INVESTOR] A third of small and medium enterprises exporting to the UK and Europe expect Brexit to have a negative impact, a survey showed on July 4. In a Korea Federation of SMEs survey on 179 SMEs that export to the UK and the EU, 33.3 percent said that exports will be negatively affected by the development. Destabilization of the foreign exchange market was the most commonly cited reason, followed by tariffs, and UK’s likelihood of falling into a slump after the country exits the EU. Rega

[THE INVESTOR] South Korean companies’ overseas operations feel that they are subjected to increasingly tougher regulations by foreign governments, and expect conditions to worsen during the second half of the year, a survey showed on July 3. In a Federation of Korean Industries survey, Korean firms’ overseas operations said that economic conditions are likely to worsen in the final six months of the year citing uncertainties facing US, China and other major economies. Of the 1,380 overseas oper

[THE INVESTOR] With the deterioration of manufacturing sector here, industry experts are concerned that producers may opt for low-cost facilities overseas with local jobs fleeing to other developing countries. According to a report by Hyundai Research Institute, the contribution level of the manufacturing industry to the country’s economic growth has decreased from 3.5 percent in 1970s to 1.4 percent most recently. Experts cite that the decreasing measure of the added value in manufacturing as t

[THE INVESTOR] South Korean shipbuilding industry was pushed aside by Chinese and Italian counterparts in the first half, with new orders falling to a record low. According to industry data released on July 4, local shipbuilders were awarded contracts for 27 merchant ships with a combined compensated gross tonnage of 830,000 in the first half of the year. Compared to last year, local shipbuilders’ first half performance has plunged by 88 percent in terms of CGT. The first half figure is the lowe

[THE INVESTOR] Asiana Airlines has grounded the Airbus A380 aircraft that experienced mechanical problems at the John F. Kennedy International Airport, it was revealed on July 1.According to industry sources, Asiana Airlines has grounded the concerned aircraft to replace the parts that caused the issue.On June 24, Asiana Airlines flight OZ2217 from New York to Incheon was delayed after sparks erupted from near one of the engines. The flight was delayed until the following day while Airbus and As

[THE INVESTOR] The number of companies belonging to large corporate groups increased by 11 to come in at 1,770 in June, the Fair Trade Commission said on July 1. According to the FTC, a total of 20 companies were newly added to large groups and nine were removed, resulting in a net change of 11. Under current regulations, a corporate group with assets exceeding 5 trillion won (US$ 4.4 billion) are defined as being large and are strictly regulated. The number of groups affected by the regulation