[DISCLOSURE] Kolon Global (003070) announced on Oct. 11 that it has decided to offer its 43,600 shares at 14,150 won per share to its employees to celebrate the company’s anniversary. By Park Yuna (yunapark@heraldcorp.com)

Oct. 11, 2016

[THE INVESTOR] South Korea’s exports tumbled 18.2 percent in the first 10 days of October, compared to last year, the latest customs data showed on Oct. 11. The country’s exports totaled US$9.47 billion from Oct. 1-10, down from $11.58 billion tallied over the same period last year, according to the Korea Customs Service.Exports of semiconductors fell 5.9 percent on-year, and those of wireless devices plunged 31.2 percent over the 10-day period, while shipments of cars and auto parts dived 51.9

Oct. 11, 2016

[THE INVESTOR] South Korean lawmakers will grill CEOs of four tobacco companies operating in the country regarding their suspected tax evasion during a parliamentary audit this week, industry sources said on Oct. 11. South Korea‘s sole tobacco maker KT&G, Philip Morris Korea, British American Tobacco Korea and Japan Tobacco International are suspected of dodging taxes on huge profits from a tobacco price hike last year.According to the sources, the National Assembly’s safety and administration c

Oct. 11, 2016

[THE INVESTOR] Sales of South Korea‘s top companies surpassed 1,900 trillion-won (US$1.71 trillion) in 2015 with the top 4 percent taking up more than 70 percent share, according to data on Oct. 11According to the data by the Korea 20000 Corporate Research Institute, the combined revenue of the firms that close their books on Dec. 31 reached 1,910 trillion won last year.A total of 219 corporations posted sales of 1 trillion won or more, with the largest number of 4,802 firms registering sales in

Oct. 11, 2016

[THE INVESTOR]  South Korea has stepped up its efforts to lead the global virtual reality market, which is forecast to reach US$11.2 billion in 2020.The global market for VR headsets will reach $7.9 billion, with that for VR entertainment to hit $3.3 billion in 2020, according to the data compiled by industry tracker IHS.“While the VR headset-installed base will escalate significantly to $81 million by 2020, we predict that expensive, higher-end headsets will dominate the content market,” the IH

Oct. 10, 2016

[THE INVESTOR]  About 85 percent of the Galaxy Note 7 smartphones in South Korea has been recalled since Samsung Electronics began a voluntary recall program on Sept. 19, according to the Korean Agency for Technology and Standards on Oct. 10.A total of 389,000 units out of the 456,000 Galaxy Note 7s that had been manufactured between July 30 and Sept. 2 have been retrieved by the company, according to the state-run agency.Of those recalled, 352,000 units have been replaced with new ones, with 21

Oct. 10, 2016

[THE INVESTOR]  Hyundai Motor said Oct. 10 that its electric vehicle appeals most to those in their 30s.Sales of the Ioniq Electric in South Korea surpassed the 1,000-unit mark in early September, two months after its debut in the domestic market. It marked the fastest period among local EVs to reach the milestone.By age group, those in their 30s account for the largest portion of 34 percent, with the number exceeding 40 percent if people in their 20s are included.“The numbers vividly show the c

Oct. 10, 2016

[THE INVESTOR] South Korea caught several attempts to smuggle totaling 246 firearms into the country over the first eight months of the year, according to data from the Korea Customs Service. It already marks the highest number of guns confiscated by KCS in a year in the 2010s, according to Rep. Yun Ho-jung of the main opposition Minjoo Party of Korea.The growth seems affected by a rising number of military goods enthusiasts, added Yun.In South Korea, gun possession is outlawed except for soldie

Oct. 10, 2016

[THE INVESTOR] Business leaders from South Korea and Japan agreed on Oct. 10 to boost bilateral economic cooperation in overseas markets and step up efforts to reduce the damage from earthquakes in both countries. The agreement came as the Federation of Korean Industries, South Korea’s biggest lobby group, and the Japanese Business Federation, held a regular meeting earlier in the day to discuss a variety of issues, including bilateral cooperation.“The two countries’ cooperation is increasingly

Oct. 10, 2016

[THE INVESTOR] Foreign investors increased their ownership of South Korean shares to a record high over the past four months in September.Offshore investors bought a net 1.63 trillion won (US$1.46 billion) worth of listed South Korean shares last month, marking the fourth consecutive month of net purchases, according to the data by the Financial Supervisory Service.Their cumulative net purchases reached 11.1 trillion won in the first nine months of the year, raising their ownership of listed sto

Oct. 10, 2016