Archive for April, 2017

Ssangyong Motors Posts 1Q Operating Loss of 15.5 Bil. Won

Ssangyong Motors posted an operating loss of 15.5 billion won in the first quarter due to a rising balance of marketing expenses. The car maker said on April 28 that its first-quarter sales were down 3.0 percent year on year to 788.7 billion won. During the same period, its operating profit was a negative of 15.5 billion won.The company blamed for the loss to the unfavorable movement of the exchange rate and higher marketing cost. As a result, its net profit for the first quarter was a negative … …

(3rd LD) Trump says he wants S. Korea to pay cost of US$1 bln THAAD deployment: report

(ATTN: UPDATES with more background, comments in paras 7, 9-12, 18-20) SEOUL, April 28 (Yonhap) — U.S. President Donald Trump said he wants South Korea to pay for the US$1 billion deployment of the U.S. Terminal High Altitude Area Defense (THAAD) bat …

[Editorial] THAAD deployment should be left to new government to decide

In the early morning of Apr. 26, US Forces Korea suddenly delivered key equipment for the THAAD missile defense system – including the launchers and the radar – to the golf course in Seongju, North Gy.. …

Philippines seeks S. Korea warship donation

  The Philippines has asked South Korea to donate a decommissioned warship to Manila, the defence department said Thursd …

China Eyes Tighter Sanctions on N.Korea, but Limits Remain

One of the key messages that came out of President Donald Trump’s meeting with U.S. lawmakers on North Korea was a renewed emphasis on the need to use sanctions and diplomacy to try and pressure Pyongyang back to the negotiating table. And while the outlook for the resumption of talks remains bleak … …

FM Yun: N. Korea Provocation Still Possible

[Politics] : Foreign Minister Yun Byung-se left Seoul on Thursday to attend a special …[more…] …

Kia Motors Sees Its 1Q Operating Profit Down by 40% to 383 Bil. Won

The first-quarter operating profit of Kia Motors fell almost 40 percent from the same period last year to 382.8 billion won. Its operating profit ratio also declined to a low of 3.0 percent. The company said on April 27 that its quarterly operating profit was 382.8 billion won on sales of 12,843.9 billion won.Even though its sales were up 1.5 percent year on year, the operating profit was down 39.6 percent. This is the lowest level for the whole first quarters since 2010 when the company complie… …

Ahn meets with ex-interim head of liberal party amid falling approval rating

SEOUL, April 27 (Yonhap) — Centrist presidential candidate Ahn Cheol-soo met with a former interim leader of the liberal Democratic Party on Thursday night to solicit his support ahead of the May 9 election, party sources said. Ahn of the center-l …

N.Korean Hackers Stole Over W90 Million from Banks

North Korean hackers are believed to have stolen more than US$90 million from banks overseas last year, computer security firm Symantec said Wednesday. Symantec analyzed cyber crimes around the world last year and fingered North Korean hackers in attacks on 104 banks in 30 countries, including a hei… …

[Herald Interview] ‘Moon craves admiration, Ahn recognition’

Second-guessing the psychology of prospective presidents is always a difficult task, and can result in misconceptions.Ki …

China Launches First Home-grown Aircraft Carrier

[International] : China has launched its first home-grown aircraft carrier on Wednesday, moving closer to becoming a …[more…] …

Competition Heats up to Acquire Dongbu Express Bus and Rent-a-car Units

About a dozen of buyers, including private equity firms and strategic investors, joined the race to acquire the non-logistics business of Dongbu Express. Dongwon Group is now pushing to sell the business in a package deal. The competition gets fiercer as many bidders have shown strong interest particularly in Dongbu Express Bus and Dongbu Rent-a-car. According to industry sources on April 25, as many as ten companies, including private equity firms Whale Investment and Keyston… …

(EDITORIAL from Korea JoongAng Daily on April 27)

Justification for merger is needed The idea of forming a coalition among centrist and conservative candidates to jointly stop the leading liberal contender from making a dash toward the finish line has began to take form. Movements for merging pre …

Park Was Lonely, Says Court Quack's Wife

Ex-President Park Geun-hye was lonely at the heart of her vaudeville court at Cheong Wa Dae, the wife of her quack doctor told a court Tuesday.The wife of cosmetic surgeon Kim Young-jae, who is on trial for perjury after denying he administered quack anti-aging treatments to Park, testified in the S… …

[Editorial] Hyundai Motor persecutes whistleblower; is it really a global corporation?

After firing an employee who leaked information about faulty vehicles to the government and the media, Hyundai Motor has rejected the recommendation of South Korea‘s Anti-Corruption and Civil Rights C.. …

North Korea loses world judo event because of security risk

North Korea will no longer host the judo world junior championships because of security risks amid rising political tens …

May presents golden opportunity for getaway

Acting President and Prime Minister Hwang Kyo-ahn delivers a speech during a cabinet meeting at Seoul’s government complex on April 25. (Prime Minister’s Office) By Lee Hana “There should be an …

KOSPI Hits Six-Year High before Closing up 0.5% at 2,207.84

[Economy] : The benchmark Korea Composite Stock Price Index(KOSPI) hit a six-year high during mid-day …[more…] …

Jeju Air Posts Record-high Sales Revenue in 1Q despite Adversities

Jeju Air, a low-cost airline affiliated with Aekyung Group, hit record-high quarterly results on the first quarter of this year by posting sales of 240.2 billion won. The airliner said on April 26 in a regulatory filing that its sales revenue for the quarter was 240.2 billion won, up 38.6 percent from 173.2 billion won set in the same quarter last year. The company posted an operating profit of 27.2 billion won, 73.7 percent higher than a year ago, and a net profit of 17.0 billion won. Its op… …

(4th LD) THAAD equipment installation underway amid residents' protests

(ATTN: UPDATES with details on THAAD in last 8 paras) By Lee Chi-dong SEOUL/SEONGJU, South Korea, April 26 (Yonhap) — U.S. troops in South Korea on Wednesday began installing the equipment for an advanced missile defense system at a site in a southe …