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S. Korean economy up 0.5 pct in Q2: BOK

S. Korean economy up 0.5 pct in Q2: BOK

By Joel Lee South Korea’s economy expanded a seasonally adjusted 0.5 percent in the second quarter (Q2) from the first (Q1), supported by manufacturing growth, revised data by the Bank of Korea (BOK) showed Thursday. The figure is slightly lower than the July estimate of 0.6 percent growth. Korea’s gross domestic product (GDP) expanded 3.5 […]

S. Korean conglomerates boost R&D spending, cut facility

S. Korean conglomerates boost R&D spending, cut facility

By Joel Lee South Korea’s top conglomerates boosted spending on research and development (R&D) as a future growth strategy, while trimming down on capital investments in first half characterized by low consumer spending and exports. 167 listed non-financial firms belonging to the country’s 30 largest business groups poured 16.2 trillion won (US$15.9 billion) into R&D […]

S. Korea imports more European oil after EU-Korea FTA

S. Korea imports more European oil after EU-Korea FTA

By Joel Lee The amount of European crude oil shipments to South Korea has swelled over the last five years after the EU-Korea Free Trade Agreement (FTA), diversifying the channel of supplies to the country that survives on energy imports to cover its high industrial needs. European oil, near nil in 2009, has soared to […]

S. Korea dominates Vietnam’s foreign investment in Q2

S. Korea dominates Vietnam’s foreign investment in Q2

By Joel Lee South Korea topped the FDI in Vietnam in first (Q1) and second (Q2) quarter of this year, with the number of relocating firms soaring in recent months, General Statistics Office of Vietnam (GSO) reports. Korea came on top at 31.23% with near $2.5 billion investment. Hong Kong and Japan followed with $1 […]

Samsung Heavy and Engineering to merge in succession move for new Lee heirs

Samsung Heavy and Engineering to merge in succession move for new Lee heirs

  By Joel Lee South Korean conglomerate Samsung Heavy Industries announced its plan on Monday to absorb Samsung Engineering in a $2.5 billion merger and acquisition process to be completed by Dec. 1. The stock exchange ratio has been set at 2.36 shares of Samsung Engineering per one Samsung Heavy share. Industry watchers say the […]

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