Articles by Son Ji-hyoung
Son Ji-hyoung
consnow@heraldcorp.com-
Ministry lauds LX in appraisal of public bodies
South Korea‘s state-owned Land and Geospatial Informatrix Corporation (LX) said Monday it won high ratings in a performance evaluation on Korean state-owned enterprises and quasi-public institutions for its “public-friendly” policies in 2017. LX headquarters in Jeonju, North Jeolla Province (LX)Of 123 institutions assessed by the Ministry of Strategy and Finance, the LX was one of the three in Korea that earned grade A in evaluation both on a curve and by absolute values, according to the state-
Industry July 9, 2018
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[Kosdaq Star] ‘YooHoo & Friends’ developer Aurora to climb on expanded global platform
This is the 58th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed. Aurora World Corporation, the South Korean plush toy manufacturer and supplier most-known for its global toy line “YooHoo & Friends,” is anticipating a leap forward in the second half of this year.A three-dimensional version of YooHoo & Friends computer-animated television adaption targeting 4 to 8-year-olds is set to be streamed through Netflix in the second half
Market July 8, 2018
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Kofia moves to prop up investment in India
Representatives from South Korean financial investment companies have discussed ways to boost ties with Indian capital market officials and to explore Korean investment opportunities in India during their four-day trip to the country.The team of representatives, composed of chief executives of three securities firms -- Daishin, IBK and Hanwha -- four asset management firms -- Samsung, Shinhan BNP Paribas, Kiwoom and Mirae Asset -- as well as Kwon Yong-won, head of the Korea Financial Investment
Market July 7, 2018
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Korea braces for impact from US-China trade war
South Korea is bracing for the impact of the opening blows in the United States’ trade war with China, while playing down the possibilities of immediate setbacks. Starting Friday at 1 p.m. Korean time, the US implemented 25 percent tariffs on $34 billion of Chinese trade. Immediately after the move, China vowed swift retaliation, calling the tariffs “typical trade bullying.” Prior to the US-China tit-for-tat, Asia’s fourth-largest economy at 8:15 a.m. held a pan-governmen
Economy July 6, 2018
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US import curbs to deal heavy blow on S. Korean economy: report
The looming US import curbs including tariffs and quotas on South Korean goods are expected to take a toll on Korea’s economic indicators, a report showed Thursday.In the wake of regulatory measures starting this year on steel, washing machines and solar cells, Seoul is likely to see some $2.5 billion cut in exports and 16,000 potential job losses here and abroad. According to a report released by the National Assembly Budget Office, a Korean steel import quota to the US -- equivalen
Market July 5, 2018
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Forex reserves in Korea top $400b
South Korea’s foreign currency reserves hit an all-time high for four consecutive months as of June this year, central bank data showed Wednesday. Rising reserves, coupled with the moderate level of foreign currency debt and expense in foreign trade, translate into Korea’s robust external stability, according to the government.The accumulated volume of foreign currency reserves including gold came to $400.3 billion in Korea, up $1.3 billion, or 0.3 percent, compared to the previous m
Market July 4, 2018
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Stocks find bottom, uncertainties to persist
South Korea’s financial market on Tuesday rebounded from Monday’s dip that had brought the top-tier Kospi and second-tier Kosdaq to the lowest in 2018.But analysts noted the market will remain exposed to external uncertainties including persisting trade war threats between China and the US, rate hikes from the US Federal Reserve in sight and widening currency volatility. Stock markets in Korea found bottoms in Tuesday closing. The Kospi edged up 0.1 percent to close at 2,272.76
Market July 3, 2018
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Financial regulator to apply new risk gauging system to business groups
The Financial Services Commission on Sunday presented a comprehensive risk management road map for business groups owning financial units, raising the baseline for capital adequacy. Starting Monday, the financial regulator is to activate a special supervision system seeking to detect the financial risk exposure level of subject groups and to prevent risk transfer among affiliates, it said in a release.During the six-month trial period, seven business groups -- Samsung, Hanwha, Kyobo, Mirae Asset
Market July 1, 2018
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Startup True Short launches service tracking institutional short selling
South Korea‘s financial technology startup True Short unveiled Thursday a service that tracks information related to institutional short sellers’ activities.The service, run on paid subscriptions on True Short online platform, aims to enable retail investors to gain access to information exclusive to institutional investors and take pre-emptive actions against a possible fall in stock price due to institutional short-selling practice.The service offers a listed share‘s outstand
Market June 28, 2018
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Watchdog to probe 3 banks' loan interest miscalculation
South Korea’s financial watchdog said Wednesday it will inspect three banks alleged to have overcharged borrowers for more loans by incorrectly calculating the interest. On Tuesday, KEB Hana Bank, Citibank Korea and Kyongnam Bank were revealed to have taken a combined 2.7 billion won ($2.4 million) in revenue from information input errors such as omitting the borrowers’ income or collateral in lending rate calculations. The Financial Supervisory Service said they will be first lookin
Market June 27, 2018
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Daewoo E&C to ramp up bid for overseas nuclear reactor projects
Daewoo Engineering & Construction is seeking to ramp up bids for nuclear reactor construction overseas to lay the groundwork for stable growth amid a change in leadership earlier in June.Plans include bidding in tenders from Saudi Arabia, the United Kingdom, the Czech Republic, Poland, Slovakia and Ukraine, the company said Wednesday.These will come along with Daewoo E&C’s efforts to clinch orders from Libya’s reconstruction and development projects. Internal view of Jordan Research and Trainin
Industry June 27, 2018
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Govt. vows ‘soft-landing’ of shorter workweek amid confusion
South Korean Deputy Prime Minister Kim Dong-yeon stressed Tuesday the need for a soft landing of a policy to shrink the workweek to 52 hours from 68 hours, amid overflowing reports of confusion at workplaces on how to manage the shorter hours.The 52-hour workweek is to go into effect starting Sunday, but the government and the ruling Democratic Party agreed to introduce a six-month grace period for the new scheme last week. “The government will set up a grace period until the end of this y
Economy June 26, 2018
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CPE Cell to release blockchain-powered carbon credit transaction
CPE Cell, South Korea‘s company devoted to clean development mechanism, has developed a blockchain-powered platform to generate and trade carbon emission credits. For now, only parts of its full-fledged version have been released.(CPE Cell)The company introduced technology to trade carbon credit on a distributed ledger platform called Master Node Platform in order to pursue transparency and accuracy in measuring the volume of greenhouse gas reduction. CPE Cell’s own six-phase technology to achie
Industry June 25, 2018
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Woori Bank secures Korea's largest offshore branch network on takeover in Cambodia
Woori Bank has acquired Cambodia’s microfinance institution VisionFund Cambodia, becoming a South Korean financial company with the largest offshore retail branch network. Through the acquisition, the Cambodian entity with $196 million total asset as of end-2017 earned the new name of WB Finance, according to Woori Bank Sunday. The institution with 106 branches across the nation will play the role in microfinance deposit-taking, according to a Woori Bank spokesperson. As a resul
Market June 24, 2018
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[Kosdaq Star] Genie Music garners investor attention on anticipated M&A
This is the 57th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed. Genie Music Corporation, South Korea‘s second-largest music streaming and downloading platform operator by monthly active users, is gaining investor attention on anticipation that it will shake up the local industry through a forthcoming acquisition deal. On Friday, Genie Music’s market cap in market‘s close came to 337.5 billion won ($303.4 million), the 153rd-larg
Market June 24, 2018
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