[THE INVESTOR] Asiana Airlines ’ second budget carrier, Air Seoul, could receive the green light for take-off as early as next month. The Korean flag carrier also operates budget airline Air Busan. According to industry sources, Air Seoul will receive the final assessment in the air operator’s certification process on June 30, and become certified early next month if all goes according to plan.Air Seoul has completed test flights on domestic routes between June 15 and 28, and will now be tested

[THE INVESTOR] South Korean businesses project difficult economic conditions in July, a survey showed on June 29. The business survey index or BSI for July outlook compiled by the Federation of Korean Industries came in at 90.5, down from 94.8 for June. BSI measures businesses’ assessment of economic conditions, and figures below 100 show negative assessment. For the latest figures, the FKI surveyed Korea’s top 600 companies by revenue. The FKI cited international uncertainties brought on by UK’

[THE INVESTOR] Hyundai Rotem announced on June 29 that it has signed a 158.5 billion won (US$135.7 million) depot maintenance contract for K1 and K1A1 main battle tanks.Hyundai Rotem is the manufacturer of the tanks. K1 battle tank.The contract, issued by Defense Acquisition Program Administration, will require Hyundai Rotem to perform overhaul maintenance on the tanks by June 2017. The contract for K1 tank depot maintenance is 95 billion won, and that for K1A1 is 63.5 billion won. By Choi He-su

[THE INVESTOR] KEPCO E&C is to take part in the International Thermonuclear Experimental Reactor project as part of the MOMENTUM joint venture, the company announced on June 29. According to KEPCO E&C, the value of the contract is 230 billion won (US$197 million).International Thermonuclear Experimental Reactor project KEPCO E&CThe JV, led by UK’s Amec Foster Wheeler, has been signed on as a construction management-as-agent, KEPCO E&C said. The JV also includes the French engineering firm Assyst

[THE INVESTOR] A growing number of Chinese IT companies are investing in Korean entertainment companies, in response to the rising popularity of Korean culture and entertainment. Chinese companies poured in more than 100 billion won (US$ 85.3 million) in the local entertainment industry from November last year to June this year, industry sources say. Chinese game developer Kunlun Technology’s Korean office is mulling to invest in a midsized entertainment agency, local news reported on June 28. I

[THE INVESTOR] Hyundai Merchant Marine said on June 28 that it will stay bound to creditor-led reforms for one more month until late July. The firm said this was because it was taking longer than expected to meet some of the conditions put forth by its creditors for agreeing to the 90-day restructuring.One of the conditions was to join a global shipping alliance, and this has met some challenges, the firm said. The other two are a debt recast and a charter rate cut.Hyundai Merchant said it has b