The Korean daily media headlines and humor
Friday April 28, 2017
Here are The Korea Post notices and a roundup of important headlines from all major Korean-language dailies, TV and other news media of Korea today:
Very Respectfully Yours
Korea Post Media
What’s ticking in Korea today? Here is a quick roundup of important news stories from the major Korean news media today:
US Aims to Further Isolate N. Korea During Special UN Talks
The spokesman noted that options could include ostracizing North Korea from countries and international bodies by closing down their diplomatic missions. While Toner said Tillerson won't ask the countries to strip North Korea of its UN membership, speculations are growing that the U.S. could ask them to sever diplomatic ties with the regime. On Thursday, Toner said that the U.S. state secretary will urge China to use its unique leverage when he meets Chinese Foreign Minister Wang Yi on the sidelines of the UNSC meeting. Including the Chinese Foreign Minister, all 15 permanent and non-permanent members of the UN Security Council sent their delegations to the meeting. South Korea will be represented by Foreign Minister Yun Byung-se.
Seoul Urges China to Listen to Int'l Calls on THAAD Retaliation
South Korea says it remains steadfast in its partnership with the United States on THAAD missile defense, and is calling on China to listen to the international community and halt its retaliation. South Korea says deploying THAAD antimissile batteries is a matter of national security in the face of North Korea's nuclear and missile threats. China sharply opposes the deployment and has made it much more difficult for South Korean exporters to do business in mainland China, and for Chinese tourists to travel to South Korea.
Samsung Electronics Not to Convert into Holding Company
Samsung Electronics says it has decided not to change into a holding company. Thursday's decision puts to rest months of review on the issue. Samsung executives say a holding company structure would not particularly strengthen its overall business competitiveness and could dilute its managerial capacity. They say a transitioning to a holding company would not have been easy to accomplish unilaterally, as it would require shareholder and board support. Samsung also cited various legal complications that make a conversion unfavorable at this time.
It's matter of time before N. Korea perfects ICBM capabilities
U.S. Pacific Commander Adm. Harry Harris said Thursday that it is only a matter of time until North Korean leader Kim Jong-un perfects his intercontinental ballistic missile capabilities. "KJU is not a leader who's afraid to fail in public. And so, you know, I talked about Thomas Edison. He tried 1,000 times before he got the lightbulb to work. KJU is going to continue to try ... until he gets his ICBMs to work," Harris said during a Senate Armed Services Committee hearing. He said the North is the most immediate threat to the security of the U.S., South Korea and Japan. "Make no mistake; Kim Jong Un is making progress on his quest for nuclear weapons and a means to deliver them intercontinentally. All nations need to take this threat seriously because North Korea's missiles point in all directions," the commander said.
No indication of military action against N.K. during White House briefing
A rare White House briefing on North Korea for the entire Senate this week gave no indication that U.S. military action against the communist nation was imminent, Sen. John McCain said Thursday.
The chairman of the Senate Armed Services Committee said on CBS "This Morning," however, that a military option shouldn't be taken off the table as a last resort that can be used when a North Korean nuclear missile launch was impending."No," McCain said when asked if there was any indication of imminent military action against the North during Wednesday's White House briefing. "But it is clear and I totally agree that that option can't be taken off the table, but it has to be the absolute last option," he said.
KT's Q1 net rises 4.3 pct
South Korea's No. 2 mobile carrier KT Corp. said Friday its first-quarter net profit advanced 4.3 percent on-year. Net profit came to 224.3 billion won (US$197 million) in the January-March period compared to a profit of 215.1 billion posted a year earlier. Sales came to 5.6 trillion won, up 1.8 percent over the cited period. The operating profit advanced 8.3 percent on-year to reach 417 billion won. The operating profit came roughly in line with the market's estimate of 407 billion won, compiled by Yonhap Infomax, the financial arm of Yonhap News Agency, on 14 brokerage houses.
Industrial output rebounds in March
South Korea's industrial output rebounded to rise 1 percent last month from a month earlier on a rise in the production of automobiles and electronics parts, government data showed Friday. Production in the mining, manufacturing, gas and electricity industries rose 1 percent on-month in March, turning around from a 3.3 percent on-month drop in February, according to the data by Statistics Korea. From a year earlier, the figure rose 3 percent on-year in March on the back of a sharp increase in semiconductor and machinery sectors.
The Korea Herald (http://www.koreaherald.com)
US pushes for more sanctions, diplomacy over NK threats
The Donald Trump administration is seeking to step up sanctions and pressure as its key drivers to tackle North Korea’s nuclear and missile programs, while engaging the regime through diplomacy, top US officials said Wednesday. Following a two-month review, the administration is said to have recently settled on its North Korea policy, dubbed “maximum pressure and engagement.” Trump hosted a rare closed-door briefing for all 100 senators at the White House, after which Secretary of State Rex Tillerson, Secretary of Defense James Mattis and Director of National Intelligence Dan Coats issued a joint statement, vowing efforts to boost pressure on Pyongyang.
Gender biased language backfires on campaign trail
Most of the major presidential candidates have referred to themselves as “feminists” and have made big promises to tackle gender discrimination and violence. However, questions linger over whether they can deliver, as some of the contenders are mired in controversy for using language critics say shows their subconscious gender stereotypes. Often compared to US President Donald Trump for his outspoken rhetoric, Hong Joon-pyo, the firebrand flag-bearer of the conservative Liberty Korea Party, has been criticized for describing his wife as someone who cooks and does dishes for him.
Samsung rejects Elliott’s demand to create holding company
Samsung Electronics said Thursday it would not create a holding company, rejecting demands from activist hedge fund Elliott Management to reshape its corporate structure. “After conducting a comprehensive review with external advisers, the company’s board of directors has decided not to convert to a holding company structure,” Samsung said.
‘Moon craves admiration, Ahn recognition’
Second-guessing the psychology of prospective presidents is always a difficult task, and can result in misconceptions. Kim Tae-hyung, psychologist and author of “Psychology in Choosing a President,” told The Korea Herald in an interview that he had until recently held to the principle of not analyzing a public figure’s psychology while they were still alive. However, the extensive corruption scandal involving former President Park Geun-hye changed his mind. When asked to define the psychological status of Park in April 2015, the expert chose to keep his statement as brief as he could.
The Korea Times (http://www.koreatimes.co.kr)
Hopes growing over dialogue with N. Korea as US softens war talk
The incoming South Korean government is expected to be in sync with President Donald Trump's administration over policies on North Korea, given that the latter is surprisingly open to dialogue with Pyongyang, according to analysts, Thursday. Dampening talk of military action against the North, the U.S. suggested "tightening economic sanctions and pursuing diplomatic measures" against the reclusive regime in a statement issued Wednesday.
Residents up in arms over rushed THAAD installation
Residents in Seongju County, North Gyeongsang Province, and civic groups continued Thursday to denounce the overnight operation to transport a U.S. Terminal High Altitude Area Defense (THAAD) battery to its deployment site a day earlier. "The clandestine work to transport some of the anti-missile defense system here pushed ahead by the U.S. Forces Korea (USFK) overnight is nothing short of subjecting us to military martial law," they said. "The government has mobilized forces to railroad its unilateral decision, against which we have every right to protest. This shows it has absolutely no regard for the residents whose lives are directly affected by such a political decision," they added.
Seoul's 'international taxis' running on empty
"International taxies" dedicated to overseas tourists are wasting time and millions of won in taxes because each cab in the Seoul city business is moving fewer than one customer a day, according to reports.
The city has invested 580 million won ($514,000) a year in operating 366 international taxies, half private and half corporate, since 2009. But according to the daily Hankyung, of Seoul's 13.57 million foreign tourists last year, only about 94,000 used the service ― 0.7 passengers per taxi a day. Among reasons behind the service's poor performance, lack of promotion stands out. While tourists use smartphone apps to help them explore the city, international taxies have been neglected by the city's tourism agencies, including the Korea Tourism Organization and Seoul Tourism Organization, only advertising the service in brochures at airports.
S. Korea needs nuclear submarines
Leading presidential candidate Moon Jae-in of the Democratic Party of Korea (DPK) said Thursday the nation needs nuclear submarines. Toward that end, he vowed to revise the nuclear cooperation deal between South Korea and the United States, if elected, so the nation can purchase the U.S. ingredients that can be used to make nuclear fuel. "We need nuclear submarines in this era," he said during a debate hosted by the Korea Broadcasting Journalists Club, noting that using nuclear fuel as a power source only is not against international agreements.
U.S. puts priority on pressuring N. Korea
The Donald Trump administration has officially declared its position on the North Korean nuclear issue, putting top priority on pressuring Pyongyang into dismantling its nuclear and missile programs through economic sanctions and diplomatic measures. Although the U.S. administration did not mention any military measures including a pre-emptive strike on the North, it suggested that it would consider a military option as a last resort. It seems that the North Korean nuclear issue that escalated to a near-crisis situation has entered into a long-term phase.
France's far-right leader Marine Le Pen utilizes Trump’s strategy
“Everyone knows what side Emmanuel Macron is on – he is on the side of the corporations. I am on the workers’ side.” In her surprise visit to the Whirlpool home appliances plant in northern city of Amiens on Wednesday, Marine Le Pen of the far-right National Front party made a strong attack against Emmanuel Macron of EN Marche!, a social-liberal political party founded in 2016. As Whirlpool has decided to move its factory to Poland, some 290 workers in the Amien factory are now faced with losing their jobs. Taking selfies together with workers in the factory’s parking areas, Le Pen vowed that if she becomes the president, the Amien factory would never shut down.
Berlin winner ‘On Body and Soul’ opens Jeonju Int'l Film Fest
Ildiko Enyedi, Hungarian director of this year’s Berlin International Film Festival Golden Bear winner “On Body and Soul,” came to Korea. The 62-year-old director’s movie opened the 18th Jeonju International Film Festival on Thursday. “Though it is about love between a man and a woman, I did not want to show an idealistic happy life,” she told reporters in Jeonju. “The deer are in the dream, which were depicted beautifully. But they don’t have food, and they can be hunted. I wanted to show this to audiences.”
72% of Seoul's high concentration fine dust affected by China
A recent research finding has suggested that over 70 percent of high concentration ultrafine particles (PM2.5) in Seoul comes from outside the territories, including China. The Seoul Metropolitan Office announced Thursday that its final report titled “Establishment of PM2.5 Source Inventory and Research on Close Monitoring,” and concluded that 72 percent of PM2.5 alerts announced in Seoul in 2015 were due to foreign influences. When alerted as PM2.5, the particles are referred to as “high concentration fine dust,” which shows an increase of 17 percent from the average 55 percent in non-alerted situations.
THAAD Battery to Be Up and Running 'in a Few Days'
The Terminal High-Altitude Area Defense battery being set up at a former golf course in Seongju, North Gyeongsang Province will be operational in a matter of days, a Defense Ministry spokesman said Thursday. Ministry spokesman Moon Sang-gyun said the battery will soon be put into "actual operation," not merely "testing operation," giving South Korean and the U.S. the capacity to deal with North Korean provocations.
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 heist on the central bank of Bangladesh that netted $81 million. Symantec analyzed the malicious code used in the Bangladesh heist and concluded that it was the same as the one used by a group called Lazarus, which is thought to be linked with the North Korean regime. The group was behind the 2014 attack on Sony Pictures' Hollywood studio, and the FBI blamed it on North Korea as it occurred before the release of the caper "The Interview," about the attempted assassination of North Korean leader Kim Jong-un.
Births Dwindle to Record Low in February
The number of childbirths in February hit an all-time monthly low for the month. Statistics Korea said Wednesday that only 30,600 babies were born in the second month of the year, down an alarming 12.3 percent from February 2016, when the figure was already the lowest February figure on record until then. The combined number of childbirths in January and February was also a record low at 65,600, down 11.8 percent or 8,800 on-year and the first time that the number dropped below 70,000.
Uber Fined Nominal Amount After Epic Trial
The Seoul Central District Court on Wednesday fined Uber a nominal W10 million for illegally using private vehicles for commercial purposes (US$1=W1,129). The app-based chauffeur service started business in Korea in 2013 in partnership with a local car rental company, but faced stiff resistance from taxi companies. The Seoul Metropolitan Government hounded the company to the point of offering a W1 million reward to people who report Uber drivers and eventually turned to prosecutors to deal with the problem.
Hurried THAAD deployment to make fait accompli, before election
It was confirmed that US Forces Korea unexpectedly delivered the key components of the THAAD missile defense system - including the radar, the fire control system and the launchers - to the golf course in Seongju, North Gyeongsang Province in the early morning hours of Apr. 26. The delivery is being criticized as an attempt by the South Korean and US governments to prevent the next South Korean president (who will be elected in 13 days) from discussing the issue any further with the US or China, and therefore as an act of deception against the South Korean public and an act of violence against the sovereignty of the Republic of Korea.
Who is rushing the THAAD deployment, and why?
It happened like a sneak attack in the dead of night. All set procedures were utterly disregarded. With US Forces Korea and the Ministry of National Defense proceeding on Apr. 26 with the deployment of a Terminal High Altitude Area Defense (THAAD) missile defense system, the question for many now is just who made the decision and when. Whoever it was - and whatever their intentions - is likely to face accusations of interfering in the May 9 presidential election, where the THAAD issue was certain to be a key point of contention.
Seongju residents resist arrival of THAAD components in their community
“It was so embarrassing to see the smiling faces of those American bastards,” said Park Hee-ju, 48, an independent member of the Gimcheon city council, as tears streamed down his face.
Park was standing before a group of locals on the street in front of the Soseong Village Community Center in Chojeon Township, Seongju County, North Gyeongsang Province, around 5 pm on Apr. 26. As the co-chair of the Gimcheon Civic Action Committee Against the THAAD Deployment, Park had been trying to stop trailers carrying the THAAD X-band radar and launchers from entering the former site of the Lotte Sky Hill Seongju Country Club early that morning when he was detained for interfering with the execution of public duties. After being questioned at the Gumi Police Department, Park was released around 4 pm, at which point he headed straight to Soseong Village to attend the rally against THAAD.
China with vocal condemnation of South Korea’s THAAD deployment
As the deployment of the THAAD missile defense system in South Korea moves forward with the unexpected delivery of key THAAD components to the golf course in Seongju, North Gyeongsang Province on Apr. 26, China is protesting loudly. “China has [. . .] expressed our grave concern to the US and ROK authorities. The deployment of the THAAD system in the ROK by the US and the ROK will break the strategic balance in the region and further escalate the tensions on the Korean Peninsula,” Chinese Foreign Ministry spokesperson Geng Shuang said in response to a question on the topic during a regular press briefing on Apr. 26.
Trump briefs the entire Congress on North Korea
U.S. President Donald Trump and his top national security advisers briefed nearly the entire Senate Wednesday on the administration’s policy on North Korea, emphasizing pressure and diplomatic measures to return to some kind of dialogue. Then his top aides moved to the Capitol to brief the House of Representatives. It was a rare move for the president to summon all 100 senators to the White House, where U.S. Secretary of State Rex Tillerson, Secretary of Defense Jim Mattis, Director of National Intelligence Dan Coats and Chairman of the Joint Chiefs of Staff Gen. Joseph Dunford gave a classified briefing on strategy to denuclearize Pyongyang, which it calls “an urgent national security threat.”
Chips give Samsung a Q1 earnings ‘surprise’
Samsung Electronics made a surprise announcement on Thursday that its board of directors decided not to proceed with a much-anticipated overhaul of its governance structure. The tech bellwether released first-quarter results on the same day, which included an earnings surprise on the back of robust demand for semiconductors despite flagging performance of its smartphone business in the aftermath of the Galaxy Note7 recall and discontinuation late last year.
U.S. will ‘ring’ China, Clinton said in speech
Former U.S. Secretary of State Hillary Clinton said in a speech in 2013 that Washington would not accept Pyongyang having an intercontinental ballistic missile (ICBM) that could carry a nuclear warhead since it could “theoretically” target the U.S. mainland. “We all have told the Chinese if they [North Korea] continue to develop this missile program and they get an ICBM that has the capacity to carry a small nuclear weapon on it, which is what they’re aiming to do, we can’t abide by that,” said the former presidential nominee.
Lotte refashions outlet with ball pits and toys
The renovated branch of Lotte Premium Outlets in this suburban city about 30 miles south of Seoul looks more like an amusement park than a shopping mall for bargain hunting. At its Icheon outlet location, Lotte has opened a three-story complex catering to families with children. There are cafes with ball pits and slides, job experience zones where kids can pretend to be doctors and firefighters, and a large Toys ”R” Us store that anchors it all.
The KyungHyangShinmoon (http://english.khan.co.kr/)
Sim Sang-jeung, the Only Candidate in Favor of Same-Sex Marriage
Sexual minorities have emerged as a hot potato in the nineteenth presidential election. It all started when Moon Jae-in, the presidential candidate of the Minjoo Party of Korea said, "I oppose homosexuality," during the fourth TV debate on April 25. The only other time sexual minorities were in the spotlight in a presidential election was the fifteenth election in 1997. Due to the influence of the film, Philadelphia, which was released in 1994, the issue of sexual orientation drew social interest.
Defense Ministry Hits the People from Behind
US Forces Korea placed the equipment for the Terminal High Altitude Area Defense (THAAD) system at the Seongju Golf Course in Gyeongsangbuk-do in the early hours of April 26. They are expected to soon test run the 2-3 missile launchers, fire-control radar, and engagement control station, which were put in place this day. The U.S. military also brought in a Patriot missile launcher. The placement of the equipment was carried out suddenly six days after South Korea and the U.S. agreed to the supply of land for the THAAD missiles on April 20
Brinkmanship and the Madman Strategy
North Korea's response to the nuclear issue has not changed much, past or present. They resort to so-called brinkmanship. North Korea's Vice Foreign Minister Han Song-ryol gathered the foreign press in Pyongyang on April 14 and threatened the U.S. saying, "If the U.S. engages in military operations, we will respond with a preemptive strike." At the same time he stressed, "We will conduct a nuclear test when and where the senior leadership decides to conduct it."
Moon Opposes Legalizing Homosexuality, But Is Against Discrimination of Sexual Minorities
Moon Jae-in (64), the presidential candidate of the Minjoo Party of Korea, announced his opposition to same-sex relationships. In a debate of presidential candidates organized by JTBC, the JoongAng Daily, and the Korean Political Science Association on April 25, Hong Jun-pyo, the candidate of the Liberty Korea Party asked, "Are you against homosexuality?" to which Moon answered, "I am not fond of it." When Hong further questioned, "I'm not asking if you like homosexuality, I am asking you if you are for it or against it," Moon answered, "I am not in favor of legalizing it (homosexuality)."
The Korea Economic Daily (http://english.hankyung.com/)
Samsung Vice Chairman Lee Jae-yong Won't Beef up His Stock Ownership
Samsung Electronics has decided to retire its treasury stocks (13.3% in total) worth 45 trillion won. In addition, it won't proceed with a plan to turn the company into a holding company structure as a way to strengthen the management control of Lee Jae-yong, vice chairman of Samsung Electronics and the de facto leader of the group. This is widely interpreted as a move to win confidence from shareholders with his own leadership rather than stock ownership.
1Q Surprise Growth of 0.9% Led by Manufacturing
The first-quarter economic growth rate has surpassed the earlier consensus figure of 0.7-0.8 percent to reach 0.9 percent. According to the Bank of Korea on April 27, the preliminary GDP growth rate for the January-March period was 0.9 percent. The quarterly economic growth rate had fallen 0.5 percent in the third and fourth quarter of last year. This quarter's gain is up 2.7 percent from the same period last year. Chang Min, director in charge of research at the central bank, said, "The 0.9-percent quarterly growth is 3.6 percent at annual rate, higher than the potential growth rate of 3.0-3.2 percent. This is much better than we hoped for."
"Too Early to Tell We Entered Expansionary Phase"...Deputy PM
Yoo Il-ho, Deputy Prime Minister for Economic Affairs and Minister of Strategy and Finance, said of the current economic condition, "There are positive signs appearing on the horizon." He said this in a ministers meeting for strengthening industrial competitiveness held at the Seoul Government Complex on April 27, adding, "The economy is showing strong signs of recovery with exports making a two-digit growth and consumer spending and investment rising at a solid pace."
Optimistic Sentiment Spreads as Exports Pick up
Korea's economic indicators are showing clear signs of improvement across the board. This trend, which began first for exports, is spreading toward other economic spheres including production, investment, consumption, and employment. Market analysts expected this trend to continue for the time being thanks to the easing of uncertainties in and outside Korea. According to the Ministry of Trade, Industry, and Energy on April 26, the nation's exports grew 14.9 percent in the first quarter year on year, the highest growth since the third quarter of 2011. The nation's exports have continuously registered a positive growth for six straight months starting from November 2016.
AJU Business Daily (http://eng.ajunews.com/korea)
Moon outlines foreign policy of emphasizing national interests
Moon Jae-in, who is favored to become South Korea's next president, has outlined his policy of engaging in realistic diplomacy that emphasizes national interests, based on a strong alliance with the United States. In his obligatory TV speech Wednesday as a presidential candidate from the main opposition Democratic Party, Moon promised to bolster South Korea's traditional ties with the United States while trying to restore strained relations with China if he wins the May 9 election.
Samsung's Q1 net profit up 46% on robust chip sales
Samsung Electronics Co. said Thursday its first-quarter net profit shot up 46.29 percent from a year earlier, aided by a robust chip business which posted record-high performance. Net profit came to 7.68 trillion won (6.78 billion US dollars) in the January-March period, Samsung said in a regulatory filing. Operating profit reached 9.89 trillion won, also up 48.27 percent from a year earlier. Sales increased 1.54 percent on-year to reach 50.5 trillion won over the cited period. Samsung's operating income came in line with its estimate announced earlier this month. It marked the second-highest quarterly operating profit ever posted by the tech giant. The company posted an all-time high operating profit of 10.1 trillion won in the third quarter of 2013.
Internet-connected home devices infected with malware
Internet of Things (IOT) is a fast-growing market with its value standing at 16.3 billion US dollars, along with other new technologies such as artificial intelligence and augmented reality. But IoT devices could become a serious threat to daily life as many are found infected by malware, a Russian security firm warned. IoT devices include home appliances and other electronic devices connected to the web, such as artificial intelligence (AI) assistants, smart TVs, smart freezers and smart boilers. Users can remotely control them or the devices themselves can decide when to operate by communicating with other devices through the internet.
Samsung dismisses consumer concern about 'Redgate' in S8
Samsung's new flagship smartphone Galaxy S8 has been caught up in an embarrassing controversy called "Redgate" defining its reddish screen when compared to previous other models. From the beginning, the world's top smartphone maker reacted resolutely to allegations about a design flaw saying there's no such thing as Redgate and the screen's reddish hue can be adjusted via the phone's settings. At a conference call Thursday, Samsung reassured consumers that there's no hardware flaw in S8. "Considering the characteristics of the Super AMOLED screen used on S8, it is natural to have deviations among the products," said Lee Kyung-tae, the chief of Samsung's mobile business division.
Maeil Business News Korea (http://www.pulsenews.co.kr/)
Samsung Electronics to cancel $43bn worth treasury shares, stock at new historic high
Samsung Electronics announced on Thursday its board approved plans to cancel the company’s all of existing and new treasury shares worth 49.3 trillion won ($43.35 billion) in total to enhance sustainable long-term value for shareholders. “The strong balance sheet and the increase in cash holdings of the company have reduced the need to hold treasury shares, which had been retained to use as a financial resource, including for M&A transactions and securing talented professionals,” the company said in a statement.
Samsung Electronics ditches the idea of demerging into holding, business entity
Samsung Electronics announced on Thursday its board of directors has decided to strike down the idea of breaking up the company into a holding and business entity, citing limited benefits from the change.
In a statement after the board meeting, the company said the management has reviewed the option as requested by some investors since November, and concluded that “risks including uncertain legal and regulatory environment would not be beneficial to shareholder value and long-term growth.
S. Korea’s GDP expands 0.9% in Q1, fastest since Q2 2016
The South Korean economy grew by its fastest pace in nearly a year in the first three months of the year, driven by overseas demand and capital investment to suggest the economy may finally gain speed from a lengthy stagnation, the central bank said. According to the preliminary data released by the Bank of Korea (BOK) on Thursday, the country’s gross domestic product totaled 383.6 trillion won ($339 billion) in the January to March period, adding 0.9 percent from the previous quarter and 2.7 percent on yearly basis, the fastest movement since the second quarter of 2016.
Netmarble IPO priced at top band, draws $2.3bn in Korea’s second biggest IPO
Becoming Korea’s second biggest initial public offering, Netmarble Games Corp. shares were priced at 157,000 won ($138.9) apiece at the top end of the guidance band amid explosive demand, making the country’s top mobile game publisher 2.66 trillion won richer. Non-institutional bids reached 7.76 trillion won ($6.9 billion), recording an oversubscription rate of 29.17 times for 3,390,723 issues available to retail investors, its lead manager NH Investment & Securities Co. said. The shares will go listed on the main Kospi bourse on May 12.
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