[THE INVESTOR] Samsung Electronics will begin rolling out replacements of the Galaxy Note 7 in South Korea and the US this week, moving fast to restore consumer loyalty hurt by faulty batteries prone to potential explosions.The new Galaxy Note 7 replacement devices, equipped with new batteries, will become available in Korea from Monday and in the US from Wednesday, according to Samsung’s latest announcement.The ongoing recall affects Samsung Galaxy Note 7 smartphones released in 10 nations last

Sept. 18, 2016

[THE INVESTOR] Tech behemoth Samsung Electronics said Sunday that it has sold its shares in a total of four global tech companies, including Sharp of Japan and Seagate Technology of the US in recent weeks.　The series of stock sales are said to be in line with Samsung Vice Chairman Lee Jae-yong’s push to streamline the company’s business portfolio and focus on flagship businesses, including smartphones and chips.　Samsung said selling the shares of the four companies -- Sharp, Seagate Technology,

Sept. 18, 2016

[THE INVESTOR] Local banks decided to issue a refund guarantee for Hyundai Heavy Industries, allowing the company to go ahead with ship-building projects, sources said Sunday. 　According to the financial sources, seven banks, including the firm’s main creditor KEB Hana Bank, made the decision to issue the refund guarantee for the company by early next month. 　A refund guarantee is a form of security for purchasers who normally pay for a substantial part of the vessels in advance of delivery. A s

Sept. 18, 2016

[THE INVESTOR] LG Electronics has requested an Italian court to nullify two patents held by Germany’s compressor manufacturer Secop, claiming that such technologies are no longer subject to legal protection as they are widely used throughout the industry.　LG said Sunday in a statement that it filed the suit against Secop with the Torino Court in response to a claim by the German company that the South Korean electronics giant had infringed its patents.　In July, Secop sent a letter of complaint t

Sept. 18, 2016

[THE INVESTOR] South Korean carmakers are seeking market expansion in Europe through the upcoming Paris Motor Show, by unveiling an array of new cars and concept vehicles targeting consumers sensitive to environment issues and fuel efficiency.　The nation’s largest automaker Hyundai Motor is set to bring both the new hatchback i30 and Ioniq lines of energy-efficient cars to the show. 　But the company remains undecided on its main concept for the show, an official said, adding that Hyundai is stil

Sept. 18, 2016

[THE INVESTOR] BRUSSELS -- The world’s largest package delivery company is looking to transcontinental shipping and the rise of e-commerce as growth engines, according to the chief executive of the company’s European branch.　Nando Cesarone, CEO of United Parcel Service Europe, told a group of Asian reporters at UPS Europe’s headquarters in Brussels that the rise of e-commerce and increasing preference among consumers to shop online and across borders was creating a shift in transcontinental ship

Sept. 18, 2016

[THE INVESTOR] A recent report released by the Organization for Economic Cooperation showed that four out of 10 working women in South Korea are underpaid, and the ratio is the highest among the member countries of the economic organization. The ratio of female workers who received wages below two thirds the national average reached 37.8 percent in 2014, the highest among 22 OECD members checked and 6.8 percentage points more than No. 2 Ireland's number of 31 percent.The figure has steadily fall

Sept. 18, 2016

[THE INVESTOR] Corporate mergers and acquisitions (M&As) by South Korean firms declined sharply in the first half of this year as local conglomerates remained reluctant to streamline their business, the antitrust watchdog said Sunday.The value of reported M&As reached 13 trillion won (US$11.7 billion) in the January-June period, down from 39.4 trillion won a year earlier, according to the Fair Trade Commission (FTC).The number of merger cases also dropped to 209 from 249 over the cited period.Th

Sept. 18, 2016

[THE INVESTOR] Tech giant Samsung Electronics is striving to minimize the impact of the recent battery fiasco, which is expected to significantly undermine its profits.The largest smartphone maker by revenue has nominated Samsung heir apparent Vice Chairman Lee Jae-yong as a board member, signaling his bigger role in the firm’s management.After the announcement of the nomination, Samsung’s shares increased 4.23 percent to 1,527,000 won on Sept. 13.The tech giant saw its stock drop 6.98 percent t

Sept. 13, 2016

[THE INVESTOR] LG Electronics’ latest high-end smartphone V20 is expected to hit the Korean and US markets on Sept. 29, industry sources said on Sept. 13. The company is said to be fine-tuning the retail price of the big-screen smartphone that is expected to cost 800,000 won (US$720) to 900,000 won.LG is the third-largest smartphone maker in the US after Samsung Electronics and Apple. The company is launching new phone a month earlier than last year aiming to gain an early sales lead after the r

Sept. 13, 2016

[THE INVESTOR] Kakao is under fire as its mobile messenger KakaoTalk, used by 96 percent of the entire smartphone users in Korea, went offline for around two hours right after the magnitude-5.8 earthquake on Sept. 12.The mobile messenger’s services were disrupted from 7:45 p.m. to 9:52 p.m., a minute after the earthquake and aftershocks started to rock the nation.The mobile app was later back in service, but the service disruption has upset a number of KakaoTalk users, who could not send and rec

Sept. 13, 2016

[THE INVESTOR] Samsung Display said on Sept. 13 that it will join hands with Chinese display maker China Star Optoelectronics Technology to roll out next-generation liquid-crystal displays.“Samsung Display has agreed with the Chinese partner to convert its 8.18-percent stake in the 8th-generation display production line of CSOT to that for the 11th-generation display production line,” said Cho Yong-woo, a spokesperson of the display business affiliate of Samsung Electronics.Samsung Display will

Sept. 13, 2016

[THE INVESTOR] Tech giant Samsung Electronics announced on Sept. 12 that it would sell its printer business unit to HP Inc. for US$1.05 billion. At a board meeting which approved the sell-off plan, it was decided to first divest the printer business arm on Nov. 11 and later hand over the entire shares of the firm to HPI.“With the sale of the business, Samsung will put more focus on growing flagship businesses, and HPI will be able to cement its lead as the No.1 printer maker in the global market

Sept. 12, 2016