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September, 26, 2016

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Business > Asia > Korea
The problems that sank South Korea's Hanjin Shipping this week could be just the tip of the iceberg, analysts say, with the long-running global economic downturn having left the industry drowning in excess capacity.
 
S Korean tech startups accuse Naver and Kakao of copying their software
Local startups are speaking out against South Korean IT giants that have allegedly plagiarized their services, saying that such unfair practices further marginalize smaller companies in the country's highly competitive tech sector.
 
Five Korean coal-fired power plants operated by a state-run company have seen a sharp rise in their profitability amid the weeks-long heatwave, data showed Monday.
 
South Korea fines, halts sales of VW cars for forged tests
South Korea has fined Volkswagen 17.8 billion won ($16 million) and suspended sales of 80 VW models, alleging the German carmaker fabricated documents on emissions or noise level tests.
 
Tens of thousands of South Korean auto and shipbuilding workers are set to launch partial strikes this week after negotiations over wage increases stalled.
 
South Korea's central bank on Thursday cut the country's growth outlook and kept the key interest rate unchanged at a record low as exports sputters and demand slumps.
 
Bitter legacy after shock closure of rival Koreas' Kaesong experiment
Five months after Seoul shut down a jointly run industrial park in North Korea, South Korean factory owners are still waging a defiant campaign to reopen what was the last major symbol of inter-Korean cooperation.
 
South Korean TV brands have made a U-turn on strategy and shifted orders in 2016 from domestic panels to ones from Taiwan and mainland China, according to the latest report from WitsView, a division of the market research institute named TrendForce.
 
South Korea's government lowered growth outlook for Asia's fourth-largest economy and planned a supplementary budget for a second year in a row as the global economy faces heightened uncertainty.
 
S. Korea cuts interest rate before expected amid slow recovery
The Bank of Korea unexpectedly lowered its key interest rate to a record low on Thursday as policymakers worry that corporate restructuring and sluggish global trade will further drag on South Korea's economic recovery.
 
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