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Shares in South Korean Companies Tumble Following Rumors of iPhone X Delayed Release

Shares in South Korean Companies Tumble Following Rumors of iPhone X Delayed Release

SEOUL, Oct. 20 (Korea Bizwire) – Foreign speculation that the iPhone X release may be delayed lowered the stock value of South Korean parts suppliers LG Innotek, Samsung SDI and Samsung Electro-Mechanics on October 19, according to industry experts. The share prices of each of the companies dropped below their respective valuations on September 13, [...]

Semiconductor Boom Leading to Increased Industrial Investment, but Employment Still Lagging Behind

Semiconductor Boom Leading to Increased Industrial Investment, but Employment Still Lagging Behind

SEOUL, Oct. 20 (Korea Bizwire) – Details of a report from the Bank of Korea released October 19 indicate that the recent boom in semiconductor manufacturing for domestic companies has led to increased plant and equipment investment, while employment figures remain nearly constant. The report identified the periods between the fourth quarters of 2002 and [...]

Kia Niro Most Reliable Car in U.S. According to Consumer Survey This Year

Kia Niro Most Reliable Car in U.S. According to Consumer Survey This Year

SEOUL, Oct. 20 (Korea Bizwire) – Kia Motors Corp.’s Niro hybrid has been selected as the most reliable new car in a U.S. annual survey of automobile owners, the company said Friday. Helped by fuel efficiency and enough load space capacity, the Niro crossover debuted as the least problematic car among 640,000 vehicles in this year’s Consumer Reports 2017 Auto Reliability Survey, a Kia spokesman said. Kia’s lowest scoring model is the Sportage sport-utility vehicle, which has average reliability, the [...]

South Korea’s Tax Rate 5th Highest Among Major Economies Under Moon Administration’s Plan

South Korea’s Tax Rate 5th Highest Among Major Economies Under Moon Administration’s Plan

SEOUL, Oct. 20 (Korea Bizwire) — South Korea’s tax rate will rise to be the fifth highest among major economies if the incumbent Moon Jae-in administration follows through on its plans to collect more dues from very big companies, an opposition lawmaker said Friday. The government and the ruling Democratic Party have said they will [...]

Financial Governance Bodies Form Task Force to Draft Cryptocurrency Regulations

Financial Governance Bodies Form Task Force to Draft Cryptocurrency Regulations

SEOUL, Oct. 20 (Korea Bizwire) – A task force comprised of financial governance bodies such as the FSC (Financial Services Commission), the KFTC (Korea Fair Trade Commission) and the Ministry of Justice is currently in the process of reviewing existing financial law with the aim of laying out explicit parameters for punishable actions regarding the [...]

Samsung and LG Say Whirlpool’s Call for Safeguard Tariff Could Hurt Consumer Choice

Samsung and LG Say Whirlpool’s Call for Safeguard Tariff Could Hurt Consumer Choice

SEOUL, Oct. 20 (Korea Bizwire) — South Korean consumer electronics producers Samsung and LG have said American refrigerator manufacturer Whirlpool’s growing calls for U.S. trade authorities to impose safeguard tariffs on its rivals could restrict choices for consumers. The two South Korean electronics giants are increasingly having to defend their position in the U.S. refrigerator market [...]

Resumption of Construction for 2 Nuclear Reactors to Affect Gov’t Plan

Resumption of Construction for 2 Nuclear Reactors to Affect Gov’t Plan

SEOUL, Oct. 20 (Korea Bizwire) — South Korea is set to resume work on two nuclear reactors on the southeastern coast after a three-month hiatus, as a state commission gave the green light to complete construction Friday and which is expected to affect the government’s nuclear phase-out plan. The construction of the Shin Kori-5 and [...]