The Korean daily media headlines and humor
The Korean daily media headlines and humor
  • Lee Kyung-sik
  • 승인 2018.02.20 14:25
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The Korean daily media headlines and humor

Tuesday, February 20, 2018

Your Excellency:

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


Lee Kyung-sik


Korea Post Media


Round-up of important news stories from major Korean dailies today:

The Korea Post media ( in English, ( in Korean.

S. Korean airlines sharply cut greenhouse gas emissions last year

South Korean airlines reduced greenhouse gas emissions by 450,000 tons last year by adding more fuel-efficient planes to their fleets, the transport ministry said Tuesday.Korean passenger and cargo carriers have voluntarily participated in a campaign to cut greenhouse gas emissions since 2010. They have made efforts to cut emissions by replacing older passenger jets with more environmental friendly ones and by making cabin service carts and other equipment onboard lighter, the Ministry of Land, Infrastructure and Transport said in a statement.

Hyosung Corporation Chairman Hyun Joon Cho forms Transparent Management Committee

Hyosung is improving its corporate governance with a transparent management committee formed in September last year changing the representative members of its recommendation committee to include non-executive director candidates. This followed Chairman Cho’s call to work on transparent management plans after his appointment as CEO to boost shareholder value by expanding communication with markets.The core focus of this development falls into three areas: building transparent management, securing the independence of non-executive directors and strengthening internal monitoring procedures. The transparent management committee will perform a preliminary review of primary management plans for shareholder value, such as inspecting the implementation of compliance programs, spin-offs and mergers, M&As, and capital increase and reduction. This is expected to strengthen monitoring of rational management activities.

DigiCAP secures foothold in U.S.

DigiCAP CEO & President Han Seung-woo (Pete Han) said that he is certain that Korean-made UHD broadcast equipment will make a splash in the U.S. broadcast market. He said that Korean UHD broadcast equipment manufacturers have secured entry into the U.S. market following Korea’s world-first UHB broadcasts.During an interview with The Korea Post, CEO Han said: “Major broadcasters tend to select broadcast equipment suppliers carefully with a view to avoiding even a single broadcast accident. They prefer technically proven firms, while trying not to dump existing suppliers.” “However,” he said, “they would hold a favorable attitude toward equipment used in the original they are technically proven. This is the reason that Korean UHD broadcast equipment manufacturers could enter into the U.S. market following Korea’s world-first UHB broadcasts.”



Ex-President Lee's Asset Manager Arrested

A Seoul court has issued an arrest warrant for Lee Young-bae, an assets and property manager of former President Lee Myung-bak.The Seoul Central District Court on Tuesday issued the warrant for the chief of a subcontractor of auto parts company DAS, allegedly owned by the former president, saying that the charges were proven and the suspect may destroy evidence.The asset manager is suspected of embezzling company funds to create a slush fund worth five billion won. The prosecution suspects the slush fund is linked to the former president. He is also accused of siphoning off billions of won of company funds to Kwon Young-mi, the company's largest shareholder and auditor.Kwon is the wife of the former president's brother in-law Kim Jae-jung, who died in 2010.

Seoul Mulls Filing Complaint with WTO over Potential US Steel, Aluminium Tariff

The government says it will actively consider filing a complaint with the World Trade Organization if the U.S. decides to raise its tariff on steel and aluminium products imported from certain countries, including South Korea, while maintaining tariff on other countries. In a press conference at the government complex in Sejong City on Monday, Deputy Minister for Trade Kang Sung-chun revealed Seoul’s plan to take action against Washington’s potential decision to slap a selective tariff on a dozen countries. Kang, however, said the plan is still being reviewed only internally as the U.S. has yet to make a decision, adding the government will try to persuade politicians and related industries in the U.S. to avoid choosing the option.

Moon Orders Forming Task Force on Gunsan Economy

President Moon Jae-in has ordered the government to form a task force to boost the economy of Gunsan which is facing mass unemployment due to General Motor's(GM) decision to shut down its factory in the local port city.The president issued the order on Monday during a meeting with his top aides at the presidential office. Moon instructed the ministries of finance, industry, labor and small firms to set up a pan-government task force and produce drastic measures to revive the Gunsan economy and support those getting laid off. Meanwhile, GM Executive Vice President Barry Engle will meet with lawmakers of the ruling Democratic Party on Tuesday at the National Assembly to discuss the matter.


Yonhap (

S. Korean bobsledder promises improved performance in upcoming 4-man event

South Korean bobsleigh pilot Won Yun-jong on Monday promised to up his game in the four-man event later this week, after coming up empty-handed in the two-man competition at the PyeongChang Winter Olympics.Won and his brakeman, Seo Young-woo, posted a combined time of 3 minutes, 17.40 seconds after their four heats at Olympic Sliding Centre in PyeongChang, Gangwon Province, to finish sixth among 30 teams."We're regretful (of the result) since we've worked hard for eight years for this day. I can't begin to describe how I feel right now," Won told reporters in a mixed zone interview after the event. on took the blame for the weaker-than-expected results, while lauding his brakeman for "putting on the best performance" at the start.

Court orders gov't to compensate Japanese journalist acquitted of defaming ex-President Park

A Seoul court ordered the state on Tuesday to pay 7 million won (US$6,548) in compensation to a Japanese journalist who was acquitted of defaming ousted President Park Geun-hye in a news article about her whereabouts at the time of a deadly ferry sinking in 2014. The Seoul Central District Court accepted part of the compensation claim filed by Kato Tatsuya, a former Seoul bureau chief of the Sankei Shimbun. It ruled that the state has to redeem the defendant's expenses, including legal fees, transportation and accommodation costs, in the wake of the acquittal. Kato had requested 19 million won. Kato, 52, was indicted in August 2014 by the South Korean state prosecution for libel after he wrote a story about Park in the conservative Japanese print media. In the news article, he raised questions over Park's unaccounted whereabouts in the morning of April 16, 2014, when a ferry was sinking in waters off the country's southwestern coast. The accident killed more than 300 passengers and her government's alleged mishandling of the tragedy, along with her unexplained seven-hour absence, later became one of the triggers that led to Park's impeachment and eventually her removal from office early last year.

S. Korea seeks to shift export strategy as U.S. raises trade barriers

South Korea should change its export strategy to expand its foothold in emerging markets and develop new growth drivers against a series of import restrictions by the United States, Seoul's commerce minister said Tuesday.Paik Un-gyu, Minister of Trade, Industry and Energy, said South Korea should be strategic and nimble to manage potential risks from the rising protectionist trade policies under U.S. President Donald Trump, including safeguard measures on washers and solar panels and proposed tariffs on steel imports. "I personally think this may not be the end, with more to come. We have to change our export strategy to counter rising U.S. trade protectionism," Paik said in a meeting with reporters. "To better manage risks down the road, we have to explore new markets and develop value-added products and innovative materials."


The Korea Herald (

Cha Min-kyu denied gold in 500m by whisker

South Korean Cha Min-kyu clinched the silver medal in the men’s speedskating 500 meters Monday evening, finishing second by a whisker behind winner and world No. 1 Havard Lorentzen of Norway. Cha came in at 34.42 seconds -- 0.01 second behind the Norwegian -- at Gangneung Oval in Gangneung, one of two cities hosting the PyeongChang Winter Games. Cha’s teammates Kim Jun-ho and Mo Tae-bum clocked in at 35.01 and 35.154 for 12th and 16th, respectively.The bronze medal went to Gao Tingyu of China at 34.65 seconds.Cha’s record ties that of Casey Fitzrandolph of the United States at the 2002 Salt Lake City Games. Cha raced against Junio Gilmore of Canada as the 14th pair, and clocked in at the 100-meter mark at 9.63, marking the fifth-fastest among the 28 skaters.

Speculation swirls over allies' military drill

With the South Korean military participating in a multilateral amphibious landing drill in Southeast Asia over the weekend, speculation continues to rise over when South Korea and the US will resume their annual joint drills on the Korean Peninsula. The troops from the South Korean Navy and Marine Forces on Saturday joined US Marines and the Thai Royal Navy in eastern Thailand, where the annual Cobra Gold exercise is being held. The exercise kicked off on Feb. 13 and will continue until Friday.A total 430 sailors and marines are expected to be dispatched along with battle amphibious landing ships such as Cheon Ja Bong, South Korea’s Marine Forces said. It was to conduct a joint exercise with the US amphibious assault ship USS Bonhomme Richard.

PM: Korea 'being driven into difficult situation'

Prime Minister Lee Nak-yon said Tuesday Korea is being "driven into a difficult situation," citing General Motors' decision to shut down one of its assembly plants in the country and the possibility of a hefty tariff on Korean steel exports to the US."GM Korea decided to shut down its Gunsan plant and the US Trump administration is putting together measures restricting steel imports," Lee said at the start of a Cabinet meeting. "It appears Korea is being driven into a difficult situation. Related ministries should work with a determined attitude on how we should deal with a situation like this."


The Korea Times (

Korea at war with Samsung: butchering golden goose

Korea is at war with Samsung Group with a ferocity that sometimes shows as if it won't be over until one of the two is done away with.The irony is that Samsung is the lifeline of Korean Inc., being the biggest employer, exporter, taxpayer, charity giver and the single largest pillar to support the stock market, possibly all at once.If it were the firm of another country, it would be treated like a goose laying a golden egg. By extension of this logic, are Koreans getting greedy enough to kill the goose and get all the gold inside immediately? From Samsung's perspective, it is only natural to ask why it is the victim of its own success.Instead of answering these questions, let's look at three battles the nation and its biggest corporation are fighting, because we pretty much know the stock answers to these questions ― historic collusion between the state and Samsung and other chaebol, and the people's sense of ownership to chaebol on the belief that the corporate behemoths have grown on the sweat, blood and tears of taxpayers.

Moon calls for strong reaction to US steel tariffs

President Moon Jae-in promised Monday to come up with strong countermeasures against a series of U.S. tariffs, including a move to levy heavy duties on Korean steel products, such as taking the issue to the World Trade Organization (WTO)."We should sternly cope with irrational trade protectionist measures, including taking the issue to the WTO and examining whether they violate the Korea-U.S. free trade agreement (KORUS FTA)," President Moon said at the meeting with the top aides. Experts point out that the United States is sacrificing long-time ally Korea for political motivations, adding it will likely demolish the international trade order and rebound to hurt the U.S. economy."The U.S. needs to import steel. Levying heavy tariffs will pull up prices, damaging U.S. businesses that have been using imported steel," said Bae Chan-kwon, head of the trade and investment policy team at the Korea Institute for International Economic Policy.

Cha Min-kyu wins surprise silver in men's 500m speed skating

Long-track speed skater Cha Min-kyu clinched the silver medal in the men's 500-meter speed skating race, Monday.At the Gangneung Oval, the 24-year-old clocked 34.42 seconds, 0.01 seconds behind Havard Lorentzen of Norway who set an Olympic record after clocking 34.41. China's Gao Tingyu claimed the bronze with 34.65.The short track-turned-long track sprinter is a rising star in the event, winning the silver medal in a World Cup race in Canada in December. He also won bronze in the Asian Winter Games last year.With the silver, Cha became the third Korean medalist in this event, following the 2006 Torino bronze medalist Lee Kang-seok and the 2010 Vancouver gold medalist Mo Tae-bum.


Chosun Ilbo (

U.S. to Deploy Attack Drones in Korea

The U.S. is to deploy new attack drones in South Korea that could be used to kill North Korean leaders and launch pinpoint strikes on its missile launch pads.Twelve Gray Eagle/MQ-1Cs will arrive at Kunsan Air Base in March and April.Their deployment coincides with joint South Korea-U.S. drills that will be staged in early April right after the closing of the Pyeongchang Winter Paralympics. onstruction of a hangar and other support facilities at Kunsan Air Base was completed late last month, and support personnel have already arrived.

Gov't to Roll out Red Carpet for Ivanka Trump

The government is preparing a VIP welcome for U.S. President Donald Trump's daughter Ivanka, who comes to Korea for the closing ceremony of the Pyeongchang Winter Olympics on Feb. 25. The government apparently wants to soften her up so Trump agrees to a mooted visit to Pyongyang by President Moon Jae-in. One key ruling-party lawmaker said, "You can say that Ivanka Trump holds the key to convincing the U.S. government. We will provide all the support we can in terms of diplomatic protocol." Trump runs the White House like a private fiefdom and has levered both Ivanka and her husband Jarred Kushner into ill-defined foreign-policy roles. Technically, Seoul has no diplomatic obligation to roll out the red carpet for the child of a U.S. leader, and even the head of a U.S. presidential delegation does not receive the treatment given to a head of state.

How Did N.Korean Cheerleaders Get Tickets to Olympics Matches?

North Korean cheerleaders visited a men's hockey match last Thursday to show their support for the South Korean team, which competed against the Czech Republic in the Winter Olympics in Pyeongchang.Tickets for the game were nearly sold out because it was the first match of the men's ice hockey team and many fans came as the day was the start of the Lunar New Year break. But some 220 North Korean cheerleaders could get the most expensive seats right behind the goal, which cost W150,000 (US$1=W1,079). Earlier in the day, North Korean cheerleaders also attended a figure skating event to root for North Korean pair Ryom Tae-ok and Kim Ju-sik and sat all together in seats that cost W400,000. Tickets for figure skating events are usually very hard to get as they are most popular winter sport.


HanKyoReh Shinmun (

President Moon prioritizing substance over speed on potential inter-Korean summit

South Korean President Moon Jae-in suggested that he is placing more emphasis on substance than on speed when it comes to the inter-Korean summit proposed by North Korean leader Kim Jong-un. On Feb. 17, Moon was at the main press center for the Pyeongchang Winter Olympics, located in the Alpensia Resort in Pyeongchang, Gangwon Province, when he was asked whether he intends to hold an inter-Korean summit with Kim.“I understand that expectations are high, but I think people are being too hasty. We have a proverb in Korea about going to the well to look for scorched-rice tea,” Moon said, using a proverb that is roughly equivalent to putting the cart before the horse. This remark implies that Moon means to get results and to not let all the excitement [over a potential summit] lead to a hasty meeting with the North Korean leader. He seems determined to focus on creating the conditions for sustainable peace on the Korean Peninsula, rather than a one-time summit.

Prosecutors conclude that Lee Myung-bak is the real owner of DAS

Prosecutors have concluded at last that DAS belongs to former president Lee Myung-bak. During an investigation that lasted for more than 50 days, they learned that Lee is the “real owner” of DAS and exerts effective control over the company, which contradicts public information about the share structure. While Lee himself holds nearly half (47.3%) of shares in DAS, his older brother Lee Sang-eun and Lee’s sister-in law Kwon Yeong-mi (23.6%), the second largest shareholder, are apparently only proxies for Lee or custodians of his shares.The significance of the DAS team of investigators’ findings goes beyond merely identifying DAS’s real owner. The conclusion that DAS belongs to Lee Myung-bak lays the groundwork for arguing that Samsung and Hyundai Motor Company’s payment of DAS’s legal fees (which is currently being investigated by the first high-tech crimes division at the Seoul Central District Prosecutors’ Office) constituted bribery. Even if these companies paid millions of dollars to an American law firm, the prosecutors would have faced an uphill battle if they could not prove that there was a “special relationship” between DAS, which was the plaintiff in these lawsuits, and Lee Myung-bak.

North Korean defector arrested for violating National Security Law

A North Korean defector has been arrested and indicted for sending 130 tons of rice to North Korea's State Security Ministry as part of an effort to defect back to the North.On Feb. 18, the Public Security Department of the Suwon District Prosecutors' Office reported that a 49-year-old North Korean woman has been indicted on suspicion of violating the National Security Law by providing material support to Pyongyang and preparing to return to the North. On two occasions last year, she sent 65 tons of rice to the North's secret police via a broker in China, for a total of 130 tons, valued at 105 million won (US$98,700). She is also accused of having remitted 80 million won (US$75,200) to the broker in order to send additional rice immediately before the Security Investigative Service of the Gyeonggi Southern District Police arrested her.


JoongAng Ilbo (

Cha Min-kyu surprises with silver in 500 meters

Despite tying the Olympic record, Korean speed skater Cha Min-kyu took home silver in the men’s 500-meter race, as his time of 34.42 seconds was just 0.01 of a second shy of gold, at Gangneung Oval in Gangwon on Monday. Racing in the 14th pair along with Gilmore Junio of Canada, Cha had a later start, reaching the 100-meter point in 9.63 seconds. Then, Cha sped up, completing the next 400 meters in only 24.79 seconds to tie the Olympic record set by Casey FitzRandolph of the United States at the 2002 Winter Olympics in Salt Lake City. Despite a beyond impressive Olympic debut, Cha’s lead didn’t last long, as Norway’s Havard Lorentzen in the 16th pair beat Cha’s time, and set a new Olympic record, by 0.01 second. Lorentzen was the top-ranked skater in men’s 500 meters this season.

Moon takes on protectionism by Trump

President Moon Jae-in ordered the Korean government Monday to look into all ways to push back against the growing trade protectionism of the Donald Trump administration recently. “We need to counter unreasonable trade protectionist measures confidently and resolutely, such as by filing a formal complaint to the World Trade Organization (WTO) and reviewing the possibilities [of the U.S.] violating the Korea-U.S. Free Trade Agreement,” Moon said during a meeting with top aides at the Blue House. “We need to [also] actively raise the unfairness [of the measures] during the Korea-U.S. FTA negotiations.” Moon stressed the importance of exports for growth of the Korean economy. “Last year, Korean exports grew 15.8 percent, which was the highest among the top 10 global exporting countries, and at the same time Korea’s export ranking went up two notches compared to 2016 to become the world’s sixth biggest exporter,” Moon said. “That export growth was a major contributor to the nation’s economic growth last year.”

Freeing 3 detainees could lead to U.S.-North Korea talks

North Korea’s release of three Americans it has detained could play a crucial role in facilitating talks between Washington and Pyongyang, senior Blue House officials said Monday. “Right now, the United States and the North are in a stage of exploring options to have a preliminary dialogue,” a senior aide of President Moon Jae-in told the JoongAng Ilbo. “If the North releases three American detainees, it can play a role as a catalyst to start the North-U.S. talks.” The aide said the North is refraining from provocative actions like missile tests because it is very well aware that the mood for talks could be ruined. “Under this circumstance, the most important thing now is a more aggressive attitude from either one of them to first propose talks.” Three Korean-Americans are imprisoned in the North. Tony Kim, also known as Kim Sang-duk, and Kim Hak-song were arrested in 2017 on charges of “hostile acts.”


The KyungHyang Shinmun (

Sexual Assault Spreads to Theaters, "Me Too" Against Lee Youn-taek

The "#MeToo" movement was hot in the theater industry during the Lunar New Year holidays. Testimonies poured out from former members of the Yeonheedan Street Troupe who said they were victims of sexual assault by Lee Youn-taek, the famous director who once led the troupe. There was even a shocking accusation that Lee went beyond sexual harassment and even raped one of the victims. Posts revealing sexual assault cases by perpetrators other than Lee also continued to pop up on online communities of people in the theater industry and on social network sites (SNS). The victims shared details of sexual assault incidents, which included sexual harassment during classes and acting tutoring, and sexual assault in afterparties.

MB, "Was Never Involved in Samsung’s Payment of Legal Fees for DAS"

Former President Lee Myung-bak (77) has been cornered, as allegations including bribery, misfeasance, violations of the Public Official Election Act and the Act on the Management of Presidential Archives snowball and call for his explanation. The former president is denying the various allegations, but a summons by the Prosecution Service is practically seconds away.The office of former President Lee's secretary distributed a press release on February 18 and expressed Lee's position on the suspicion that Samsung Electronics paid for the U.S. legal fees of DAS at the request of Lee Myung-bak's Cheong Wa Dae. They stated, "It is not true. Former President Lee was never involved in the U.S. lawsuit of DAS."They continued, "Linking this issue to the pardon of Chairman Lee Kun-hee is malicious and outrageous. At the time, Lee was on the brink of having his International Olympic Committee (IOC) membership deprived at the 122nd IOC Session, scheduled to be held in Vancouver, Canada (Feb. 2010) in the following year."

Choi Soon-sil Sentenced to 20 Years in Prison: Judgment on the Abuse of State Power

Choi Soon-sil, a key figure in the abuse of state power as the "secret heavyweight" exerting influence over former President Park Geun-hye, was sentenced to twenty years in prison in her first trial. The ruling was a strict judgment on her behavior, taking advantage of her relationship with the president for her personal interests, while threatening the public order of the nation. The court recognized most of the charges against Choi and also acknowledged that she conspired with the former president in connection to most of the allegations. Now that Choi has received a heavy sentence, it appears a severe sentence will be inevitable for former President Park. In particular, Park seriously undermined the integrity and morality required of the nation's leader, so the possibility of a harsher sentence than Choi, a civilian, has increased.


AJU Business Daily (

Posco ready to regain reputation as top global player through restructuring

Posco, which used to be credited with spearheading South Korea's miraculous economic growth, is ready to regain its reputation as a top player in the global steel market after revamping its structure through years of painful restructuring, cost reduction and a strategic shift to higher-value products.Posco has good reasons to remain upbeat. Its consolidated net profit last year rose to 2.97 trillion won (2.78 billion US dollars) from 1.048 trillion won a year earlier. Operating profit soared 63 percent on-year to 4.62 trillion won and sales rose 14 percent to 60.65 trillion won.The company attributed its gains to brisk performances at its non-steel business and steel subsidiaries abroad. This year, Posco promised to invest 4.2 trillion won in new facilities in steel and non-steel businesses and set sales target at 61.9 trillion won.Posco has sold non-core assets and reorganized its workforce and businesses amid a prolonged slowdown caused by oversupply and weak demands that have driven many steel makers to the corner.

Cha Min-kyu emerges as new speed skating star

At the Gangneung Oval, the speed skating venue for the Pyeongchang Winter Olympics, South Korean fans have witnessed two new young stars were born in a week.Cha Min-kyu clocked 34.42 in the men's 500m speed skating finals on Monday to capture silver, just 0.01 second behind winner Havard Lorentzen. He became the third South Korean Olympic medalist in men's 500m speed skating, following Lee Kang-seok winning bronze at Torino 2006 and Mo Tae-bum taking gold at Vancouver 2010.The 24-year old sprinter has been out of media focus until the Pyeongchang Winter Olympics as his 2017-2018 season was not fast enough to contend the title in the sprint event. But his coaches have believed him that he would be a dark horse at his first Olympics, citing Cha's lap time was getting faster in the leadup to Pyeongchang.

Speed skater captures surprise silver

South Korea won another surprise medal from speed skating at the Pyeongchang Winter Olympics -- this time, a silver by Cha Min-kyu in the men's 500 meters.With a time of 34.42 seconds, Cha finished only 0.01 second behind the gold medalist, Havard Lorentzen of Norway. Cha tied the Olympic record with eight skaters remaining before Lorentzen nipped him by one-hundredth of a second two pairs later.Cha, 24, is the third speed skating medalist for South Korea at Pyeongchang, after Kim Min-seok (men's 1,500m) and Lee Sang-hwa (women's 500m). While Lee entered the competition as a strong medal contender, both Cha and Kim came out of the blue to snatch their first Olympic medals.Also on Monday, the South Korean women's curling team stayed hot, while the two-man bobsleigh team went cold. Led by skip Kim Eun-jung, South Korea improved to 5-1 in round-robin action with a 7-6 victory over Sweden at Gangneung Curling Centre. South Korea and Sweden are now tied in first place with three matches remaining.


Maeil Business News Korea (

Seoul rummages through Samsung chief’s borrowed-name accounts

South Korea’s financial watchdog began scrutinizing financial accounts suspected to be owned by bedridden Samsung Group Chairman Lee Kun-hee hidden under borrowed names for illicit tax evasions.The Financial Supervisory Service (FSS) teamed up with the tax authority to initiate a special investigation into four brokerages Samsung Securities Co., Shinhan Investment Corp., Mirae Asset Daewoo Co., and Korea Investment & Securities Co. holding 27 accounts traceable to the ailing chief of the country’s biggest conglomerate. The probe came after the Ministry of Government Legislation concluded that 27 out of over 1,500 borrowed-name accounts of Lee, opened before the 1993 legislation that requires all financial transactions to be made in real names, are subject to fines.

Samsung Elec initiates $5.6bn building of next-gen foundry

Samsung Electronics Co. will break ground for a new foundry in Hwaseong, south of Seoul, on Friday with an aim to start mass-producing below-7 nanometer chips in the second half next year and make headway in the race for customized computer chips to power smart and robotics devices. The world’s largest foundry player Taiwan Semiconductor Manufacturing Co. (TSMC) has begun testing mass production of 7-nanometer micro chips this year with a plan to roll out prototypes for Taiwan’s fabless semiconductor firm MediaTek in the second quarter. It is scheduled to start mass producing the chips in full gear early next year. Samsung Electronics, world’s No.1 chipmaker but fourth in pure-play foundry category, is injecting 6 trillion won ($5.6 billion) to upscale foundry capacity.

Credit Suisse Korea delivers largest net profit among foreign IBs last year

Credit Suisse Korea, the South Korean operation of Switzerland-based financial company Credit Suisse Group AG, posted the largest net profit among foreign investment banks operating in Seoul last year, retaining its top position for a fourth consecutive year thanks to its strong corporate finance business. According to the Korea Financial Investment Association on Monday, Credit Suisse Korea raised 131.3 billion won ($123.4 million) in net profit last year, becoming the country’s top foreign investment bank. The local unit of J.P. Morgan Chase & Co. came in second after raking in 76.4 billion won in net profit last year, followed by another big foreign investment bank UBS AG’s Korean operation that earned 71.7 billion won. Among local brokerages, Korea Investment & Securities Co. posted the largest net profit of 482.3 billion won last year.


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