[THE INVESTOR] South Korea has agreed to invest an additional US$90 million in a trust fund in the World Bank Group for the next three years, the Finance Ministry here said on Oct. 7.“The funding will strengthen partnership between South Korea and the World Bank and boost the country‘s status there,” South Korea’s Finance Minister Yoo Il-ho said at a signing ceremony in Washington on Oct. 6 (local time), which was also attended by World Bank President Jim Yong Kim.Yoo is on his US trip to attend

Oct. 7, 2016

[THE INVESTOR] The number of single-person households in South Korea reached 7.39 million as of last month making it the single largest family type in the country, the government said on Oct. 6. According to the data released by the Ministry of the Interior, the single-member households accounted for the largest portion of all 21,214,428 households in the country, accounting for 34.8 percent of the total as of September.The number was followed by two-member, four-member and three-member househol

Oct. 6, 2016

[DISCLOSURE] Shinwon Construction (017000) announced on Oct. 5 that it plans to issue convertible bonds worth 39 billion won (US$35.02 million) and offer to Growth & Values Development, to finance its operations. Its largest shareholder Wonik Holdings (030530) has also signed a contract to hand over the shares to Growth & Values No.3 and others, which amounts to 39.05 billion won. The largest shareholder will accordingly change on Nov. 21. By Yun Jeong-hyeon (clareyun@heraldcorp.com)

Oct. 5, 2016

[THE INVESTOR] The Ukrainian prime minister has met with representatives from leading South Korean companies to ask for more investment and closer economic cooperation, the Ukrainian Embassy in Seoul said on Oct. 5. Prime Minister Volodymyr Groysman asked the South Korean business representatives to “deepen trade and economic cooperation and enhance investment in the Ukrainian economy, in particular in the energy sector, industrial complexes and mechanical engineering” during the meeting on Oct.

Oct. 5, 2016

[THE INVESTOR] South Korea’s financial regulator said on Oct. 5 it will lower the bar for tech startups to go public if they have growth potential despite their relatively poor balance sheets.It is part of efforts to support unprofitable but promising firms seeking to raise funds via the stock market, especially in the secondary, tech-laden KOSDAQ market.Briefing the outcome of a government-civilian meeting on financial reform, the Financial Services Commission described the new measure as the c

Oct. 5, 2016

[THE INVESTOR] Samsung Electronics said on Oct. 5 its global brand value exceeded US$50 billion this year, citing an annual survey of brand management firm Interbrand.This year, Samsung was again ranked as the seventh-most-valuable global brand with a value of $51.8 billion, up 14 percent from last year, Samsung said in a statement. Samsung said its brand value has tripled for the past 10 years because of its healthy financial results and positive outlooks.Kim Moon-soo, executive vice president

Oct. 5, 2016

[THE INVESTOR] South Korea and Taiwan will list their major exchange-traded funds on each other’s stock market later this week, Seoul’s bourse operator said on Oct. 5.The Korea Exchange said an ETF tracking the country’s KOSPI 200 Index will be listed on the Taiwan Stock Exchange on Oct. 7, while another ETF based on the Taiwan Stock Exchange Capitalization Weighted Stock Index or TAIEX will be traded in the stock market here.A related ceremony will be held on Oct. 7 at the KRX building in Seoul

Oct. 5, 2016

[THE INVESTOR] Chinese drone manufacturer DJI unveiled a foldable drone in South Korea on Oct. 5 in line with the drone industry trend towards smaller, more portable units.The Mavic Pro, which folds down as small as a phablet and weighs 744 grams, is equipped with a small gym ball camera and can fly at a speed of up to 65 kilometers per hour for as long as 27 minutes, the Shenzen-based firm said.“The amazing thing about the Mavic Pro is that while it is small and portable, it still packs all the

Oct. 5, 2016

[THE INVESTOR] Unionized workers at Hyundai Motor threatened on Oct. 5 to stage a general strike if the government invokes its right to emergency arbitration to order workers to return to work, sources said.The move came after Labor Minister Lee Ki-kweon said last week the government would consider calling for an emergency measure if the trade union and management fail to iron out a compromise and end a strike at Hyundai Motor that is seriously hurting car parts subcontractors and the overall ec

Oct. 5, 2016

[THE INVESTOR]  The Global Green Growth Institute or GGGI will deliver value-for-money investment opportunities, the new head of the intergovernmental body promoting green growth, said on Oct. 4.“We must show we deliver value for money for our investors, deliver the impact per dollar invested,” Frank Rijsberman, the institute’s director general said at a press conference marking his inauguration. “Our investors are looking forward to good investment opportunities and we see that GGGI to be high

Oct. 4, 2016

[THE INVESTOR] Kia Motors said on Oct. 4 that its global sales gained 3.1 percent from a year earlier last month despite a large cut in domestic sales caused by a series of labor walkouts.The automaker sold 235,413 vehicles globally in September, compared with 228,333 cars sold in the same month last year, the company said in a regulatory filing.Domestic sales plunged 14.9 percent on-year to 38,300 cars as its domestic output suffered a large cut due to labor strikes.Overseas sales helped more t

Oct. 4, 2016

[THE INVESTOR] Sales of Renault Samsung Motors dropped significantly from a year earlier last month due to a sharp cut in exports caused by a change of a vehicle model, the company said on Oct. 4. In September, the company sold 13,557 cars globally, down 38.8 percent from the same month last year.Domestic sales spiked 39.6 percent on-year to 9,222 units, helped by its recently launched midsized sedan, the SM6, and the new QM6 crossover SUV.Outbound shipments, on the other hand, tumbled 72.1 perc

Oct. 4, 2016

[THE INVESTOR] Ssangyong Motor said on Oct. 4 that its global sales continued to grow from a year earlier for a second consecutive month in September.The automaker sold 12,144 cars globally in September, up 5.7 percent from the same month last year.The on-year increase in September followed a 13.1 percent spike posted in the previous month.The rise was attributed to a surge in exports, which jumped 22.2 percent on-year to 4,133 cars in September.Domestic sales slipped 1.2 percent on-year to 8,01

Oct. 4, 2016

[THE INVESTOR] GM Korea, the local unit of U.S. automaker General Motors, said on Oct. 4 that its sales plummeted over 12 percent from a year earlier in September. Last month, the company sold 45,113 vehicles globally, down 12.4 percent on-year, the company said in a press release. Domestic sales tumbled 14.1 percent to 14,078 cars, while exports retreated 11.16 percent to 31,035 vehicles.In the first nine months of the year, the company’s global sales slipped 4.4 percent to 434,573 cars despite

Oct. 4, 2016