[THE INVESTOR] UK’s departure from the European Union is likely to further burden Korean electronics and home appliances makers.Europe’s slowdown has been dragging down Samsung Electronics and LG Electronics’ sales in the region in recent years. Samsung’s European sales had accounted for 21.2 percent of the total in 2013, but the figure dropped to 12.8 percent last year. Over the same period, LG’s figure went from 11.2 percent to 10.3 percent. While sales have slowed, Brexit is expected to add h

[THE INVESTOR] Korea’s leading media giant CJ E&M has been persistently pushing to tap into the global show business to develop a new business model.And “Kinky Boots,” a Broadway musical, is one of its latest and most successful efforts. CJ E&M, which has participated in the production of the musical since 2012, is responsible for bringing the energetic stage performance to the Asian markets including China and Korea. A scene from Kinky Boots.“As a co-producer of ‘Kinky Boots,’ CJ E&M was able t

[THE INVESTOR] Hanjin Shipping sold 60 billion won (US$51 million) worth of operating rights on Southeast Asian routes to its affiliate in order to secure liquidity, local news reported on June 24. Citing an official from the shipping industry, the shipper sold part of its rights to Hanjin Transportation, which runs the land transport service under Hanjin Group, during an emergency meeting of the board. The move came after the government and creditors, led by state-run Korea Development Bank, pu

[THE INVESTOR] Air Busan began flying the Busan-Ulaanbaatar route on June 24, becoming the first Korean carrier to operate the route between the two cities. For Air Busan, this is the 17th international route. Air Busan is a budget carrier subsidiary of Kumho Asiana Group's Asiana Airlines.Air Busan operates Busan-Ulaanbaatar flights on Tuesdays at 10:35 a.m. and Fridays at 8:35 a.m. Ulaanbaatar-Busan flights will take off at 3:40 p.m. on Tuesdays and 1:40 p.m. on Fridays. By Choi He-suk (cheesu

[THE INVESTOR] Hyundai Rotem will collect 76.3 billion won (US$66 million) outstanding fees from Iran, the company announced on June 24. Hyundai Motor Group’s defense and railway equipment maker said that the Iranian government has approved related plans, and the payment will be made in three installments.  Hyundai Rotem had been contracted to supply 150 diesel-powered train cars to Iran in 2004. The company began shipping the vehicles in 2007, but the project was cut off due in part to economic

[THE INVESTOR] The Nuclear Security and Safety Commission on June 23 approved the construction of two nuclear reactors in Ulsan.The plans for the two reactors -- Shin-Kori 5 and 6 -- were submitted by Korea Hydro & Nuclear Power in September 2012. The state-run KHNP plans to begin work immediately, and complete Shin-Kori 5 in March 2021, and Shin-Kori 6 in March 2022. The two reactors are estimated to cost about 8.6 trillion won (US$7.4 billion). By Choi He-suk (cheesuk@heraldcorp.com)

[THE INVESTOR] On news that ailing Hyundai Merchant Marine is likely to join the prestigious vessel-sharing 2M Alliance, all the attention is now focused on its bigger local rival Hanjin Shipping, to see whether the shipper can normalize its business to stave off bankruptcy. Hanjin Shipping, which joined a new alliance named The Alliance in May along with five shippers including Germany’s Hapag-Lloyd, Japan’s Nippon Yusen Kaisha and Taiwan’s Yang Ming, took the early lead on the industry-wide re

[THE INVESTOR] South Korea’s leading train manufacturer Hyundai Rotem was banned from making new bids for government-run projects for 10 months after it was sanctioned by Daegu Metropolitan Transit Corp. for malpractice.The company will not be permitted to submit bids from July 1 to April 30, 2017, according to the Daegu metropolitan authorities. Hyundai Rotem is charged wth violating local subcontractor laws by adopting a turnkey approach for the entirety of a 23.3 billion won (US$20.1 million)