Electronic Components

Seoul shares end lower after BOJ's disappointing decision

South Korean shares closed lower Friday as investors remained cautious following the disappointing stimulus measures made by the Bank of Japan. The Korean won rose against the U.S. dollar. After choppy trading, the benchmark Korea Composite Stock Price Index lost 4.91 points, or 0.24 percent, to 2,016.19. Trade volume recorded 361.38 million shares worth 4.96 trillion won ($4.42 billion), with decliners outnumbering advancers 457 to 350 Local shares started higher after the U.S. Federal Reserve on Thursday stood pat on its [...]

LG Uplus reports 12.8% rise in Q2 profit

LG Uplus Corp., South Korea’s third-largest mobile carrier, said Monday its net profit for the second quarter rose 12.8 percent from a year earlier, thanks to curbs in marketing spending. LG Uplus reported a net profit of 130.7 billion won ($117.4 million) for the April-June period, compared with a profit of 115.9 billion won for the same quarter last year, according to the company’s regulatory filing. South Korean telecom firms have benefited from a 2015 law that kept fierce competition to [...]

Hyundai Heavy signs US$40m robot supply deal

[THE INVESTOR] Hyundai Heavy Industries announced on July 12 that it signed a US$ 40 million robot supply contract with the Chinese subsidiary of Taiwanese display producer Chunghwa Picture Tubes. Under the contract, Hyundai Heavy will supply about 300 robots designed for transporting LCD glass panels. The robots will be deployed at CPTF Visual Display’s plant in Fuzhou, Fujian province in southeastern China, by the second half of next year, the South Korean company said. Hyundai Heavy has been developing industrial robots [...]

Former chief of Volkswagen Korea summoned over emissions scandal

A former CEO of the local branch of Volkswagen was summoned by prosecutors Tuesday over the German carmaker’s alleged irregularities that came to light following last year’s emissions scandal. The Seoul Central District Prosecutors’ Office summoned Park Dong-hoon as a material witness to gain background information. Prosecutors said his status can change to that of a suspect, if necessary, following the investigation. “I was not (involved),” Park told reporters, referring to the string of manipulations conducted on the German vehicles. The [...]

amsung employees organize political group in US

[THE INVESTOR] A group of employees at Samsung Electronics’ US office formed a political action committee in 2015 to engage in activities such as fund-raising and providing support for politicians. Called Samsung Electronics America Inc. Political Action Committee, or Samsung America PAC, the group was formed late last year, and since then has raised around $17,000. Steve Merlis, a senior director of Samsung’s government relations and public policy division, along with an unspecified number of Samsung employees filed the application to [...]

Antitrust body rejects SKT's takeover bid: sources

Korea’s antitrust watchdog has rejected SK Telecom Co.’s bid to take over the country’s dominant cable TV operator, citing concerns about a negative impact on normal market competition, industry and government sources said Tuesday. SK Telecom, the top mobile carrier here, has sought to acquire CJ HelloVision Co., an affiliate of CJ Group, saying it hopes to raise its competitive edge as an all-round media platform operator. The merger, if realized, would make the company the leading service provider in 21 [...]

LG Electronics to announce earnings guidance on July 8

THE INVESTOR] LG Electronics is expected to announce its second-quarter earnings guidance on July 8. Local analysts estimate the company’s operating profit to stand at about 594.7 billion won (US$517 million). The Korean tech giant started releasing its quarterly earnings guidance since the first quarter this year. Analyst say that despite the lukewarm sales of its flagship smartphone G5, the company’s robust TV and appliance sales could make up for the operating loss of its mobile business division. The mobile division last week [...]

Malibu Hybrid misses low-pollution certification

[THE INVESTOR] GM Korea’s Malibu Hybrid has failed to obtain a low-pollution certification, making it ineligible for tax benefits on eco-friendly cars, government and industry sources. On July 3, GM Korea notified through its website that benefits for purchasing hybrid vehicles are not applied to the Malibu Hybrid. According to the Ministry of Environment, the Malibu Hybrid is excluded from the measure due to failing emission standards. At 95 grams per kilometer, the vehicle meets carbon dioxide emission standard of 97 grams [...]

Samsung’s sales in China decrease for 3 years in a row

[THE INVESTOR] Samsung Electronics’ sales in China continued its downward spiral for the third consecutive year in 2015, according to a report released by the tech giant on July 3. The annual revenue in the Chinese market continued to decrease from 40.1 trillion won (US$34.9 billion) in 2013, 33 trillion won in 2014 and 31 trillion won in 2015, according to its sustainability report 2016, an annual report that provides information on the firm’s performance on economic, environmental, and social [...]

KOSPO expands in overseas market

Korea Southern Power, one of Korea’s public energy companies, is gradually breaking into the overseas market with its innovative technology and know-how. Late last month, KOSPO successfully made the first trial ignition in the Kelar gas power plant in Chile, where construction is still underway. The trial ignition, the first step after installing a gas turbine, is considered crucial as it indicates how a plant is well-connected. Since 2013, KOSPO has been building the Kelar gas power plant with a capacity [...]