[DISCLOSURE] Woojeon (052270) will shut down Dongguan Woojeon, its wholly owned subsidiary in China, as part of corporate restructuring following a decline in client orders and difficulties collecting account receivables from major clients, it announced on Aug. 10. The shutdown cost is 121 billion won (US$110.4 million), which accounts for 62.89 percent of the parent company’s total revenue in 2015.

[THE INVESTOR] South Korean shares traded lower late morning on Aug. 10 as the Korean won surged against the US dollar. The benchmark KOSPI shed 1.15 point, or 0.06 percent, to 2,042.63 as of 11:20 a.m.After rising to a nine-month high a day earlier, the KOSPI stock index started 0.04 percent lower and it swung between gains and losses.Market expectations for an interest rate hike by the US Federal Reserve were slightly lower following softer US productivity data. Such sentiment weakened demand

[DISCLOSURE] Daechang (012800) announced on Aug. 10 that it has resumed production of brass products at one of its plants on Aug. 9 following the Ministry of Employment and Labor’s decision to lift its ban. The revenue from production at the plant was 501.7 billion won (US$455.8 million), 49.35 percent of its total sales in 2015.

[THE INVESTOR] Global credit appraiser Standard & Poor’s raised South Korea‘s sovereign rating one notch to “AA” from “AA-” on Aug. 8.“The upgrade reflects our assessment that Korea’s strong record of steady growth has generated a prosperous economy, greater fiscal and monetary flexibility, and continual improvements in external metrics,” the company said in a statement.“Our rating on Korea reflects the country’s favorable policy environment, sound fiscal position and net external creditor posit

[THE INVESTOR] South Korean shares traded higher late morning on Aug. 8, backed by positive US job data that eased concerns about the pace of an economic slowdown. The benchmark KOSPI rose 4.77 points, or 0.24 percent, to 2,022.71 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics adding 0.19 percent, and global chipmaker SK hynix down 0.86 percent.Top carmaker Hyundai Motor was flat, and its smaller affiliate Kia Motors traded 0.12 percent higher.POSCO, the No. 1 st

[DISCLOSURE] KRX said on Aug. 5 that it will extend its inspection period by 15 days on whether debt-heavy Daewoo Shipping & Marine Engineering (042660) is eligible to stay listed on the nation’s benchmark stock exchange KOSPI. The firm’s shares will be banned from trading until the date of announcement.

[THE INVESTOR] South Korean shares advanced on Aug. 5 as the Bank of England’s monetary easing measures boosted risk appetites among foreigners. The Korean won rose against the US dollar.The benchmark KOSPI scored 17.91 points, or 0.9 percent, to 2,017.94. Trade volume was slim at 286.19 million shares worth 4.11 trillion won (US$3.69 billion), with losers slightly outnumbering winners 408 to 404.Foreign investors scooped up local equities after the Bank of England’s rate cut and stimulus packag

[DISCLOSURE] Namhae Chemical (025860) announced on Aug. 5 that is has made a 10.8 billion won (US$9.70 million) foreign currency fixed deposit in its affiliate NongHyup Bank.The interest rate is 1.46 percent and the redemption date is Aug. 4, 2017.