Youngjin Sohn is now a partner with the largest Korean law firm, following the closure of the Wall Street firm's Seoul office.
SEOUL (Reuters) - South Korea's LG Electronics plans to suspend manufacturing of its loss-making mobile phones in the country this year and shift the production to its existing plant in Vietnam, Yonhap News Agency said on Wednesday. Citing an unidentified source, Yonhap reported that LG decided to move its local handset production to Vietnam to help turn around the money-losing smartphones division. LG's mobile business, in the red for seven quarters, and intensifying price competition in the global TV market likely weighed on its first quarter earnings, analysts have said. LG Elec declined comment on the report. It has production bases for smartphones in South Korea, China, Vietnam, Brazil and
South Korea said on Friday that it will seek alternate sources of crude oil imports in order to minimize the impact of sanctions imposed by the United States on Iran, reported Yonhap News Agency. The move comes after US Secretary of State Mike Pompeo announced recently that no fresh sanctions waiver will be issued for Iranian oil imports to South Korea, China, India and five other countries. The waivers are set to come to an end on May 2. Earlier this week, South Korean officials, including Deputy Foreign Minister for Economic Affairs, Yun Kang-hyeon, visited Washington for talks on the issue. It is pertinent to mention that India on Tuesday said that it is adequately prepared to deal with the
SEOUL, South Korea, April 26, 2019 /PRNewswire/ -- Air Products (APD) today announced it has been awarded the on-site oxygen and nitrogen supply for POSCO Chemical's new cathode material manufacturing complex being built in Gwangyang, South Korea. POSCO Chemical is an affiliate of POSCO Group, the largest integrated steelmaker in Korea and one of the largest in the world. Air Products has been supplying pipeline oxygen to POSCO Chemical's existing site in Gumi for producing cathode materials used in secondary batteries.
CAMP HUMPHREYS, South Korea — Servicemembers from the 2nd Infantry Division were featured live on ESPN to announce the 17th pick during the first round of the 2019 NFL Draft on Friday. In February, the 2nd ID was honored during the opening ceremonies of Super Bowl LIII and invited back by Melissa Schiller, the NFL's director of community relations, to participate in the televised draft, which averaged 5.5 million viewers in 2018. About 25 servicemembers from the U.S. and South Korea participated in the announcement led by Warrant Officer James Benecke of the 2nd Sustainment Brigade. A native of Brooklyn, N.Y., and a New York Giants fan, Benecke recalled his oldest childhood football memory: watching
Investing.com - Asian markets fell in morning trade on Friday. South Korea’s KOSPI was under pressure after analysts from several investment banks downgraded the country’s GDP forecasts.
After suffering from the worst annual slump in a decade amid trade war concerns and chip sector turmoil, investors in South Korea's stock market now have even more reasons to worry. About two-thirds of the 50 mostly large-cap Kospi index firms that have announced first-quarter earnings since early this week have missed analysts' estimates, according to data compiled by Bloomberg. Analysts have lowered estimates for the index's first-quarter earnings by 3.7 percentage points in April, according to KB Securities in Seoul. Meanwhile, estimated earnings per share has fallen to the lowest level since the end of 2016. Valuations of Kospi companies are also a burden -- shares are trading at more than
(CNN) - A South Korean politician was locked in his office by rival lawmakers for over six hours Thursday, in an effort to prevent him attending a meeting ahead of a major vote. Chae Yi-bai of the Bareunmirae party and four of his aides were trapped in his office at Seoul's National Assembly. Eleven members of the rival Liberty Party entered at 9 a.m. (8 p.m. Wednesday ET), Chae's office told CNN, proceeding to block the door with a sofa and sit on it. Five hours in, Chae delivered an impromptu press conference to reporters gathered outside his window. The lawmaker discussed ripping out the window to escape, and asked a nearby firefighter for assistance. He was eventually freed when police arrived
Stocks in China tumbled on Thursday amid worries that Beijing could pull back on stimulus measures following recent better-than-expected economic data.
KABUL (Pajhwok): A ceremony was held in Kabul on Thursday in recognition of a US$16 million (AFN1.24 billion) contribution from South Korea to the UN World Food Programme (WFP)'s resilience-building work in Afghanistan , a statement said. The WFP...
LG Electronics Inc said on Thursday it would stop producing smartphones in South Korea and move manufacturing to Vietnam, joining global rivals in reorganising production as they battle a slump in global demand. The restructuring of its money-losing business comes as LG, once one of the world's top three mobile phone makers, has seen its global market share spiralling to less than 3 percent in the decade that smartphones came to dominate the mobile market. "I find its decision positive," said analyst John Park at Daishin Securities.
Freya Anderson and Max Litchfield cannot wait to star on the Worlds stage again Freya Anderson and Max Litchfield came away with golds and a ticket to South Korea in July but plenty to work on after a lively British Championships. Glasgow hosted the trials and there were high hopes for the two Sky Sports Scholars as they battled for a spot in the GB team at the World Championships in Gwangju. Teenager Anderson, who is also contending with revision for her A-Levels this summer, struck gold in the 200m freestyle by one-hundredth of a second and in the 100m Freestyle. Despite being crowned double British champion, such are the high standards at British Swimming her times were just under the qualification
South Korea on Wednesday unveiled a proposed 6.7 trillion won ($5.87 billion) supplementary budget the government says is needed to tackle unprecedented air pollution levels and boost exports bruised by weak demand. The package includes 2.2 trillion won to battle pollution, including subsidies for replacing old diesel-powered cars, buying air purifiers and encouraging use of renewable energy technologies. Another 4.5 trillion won would be increasing export credit financing and creating jobs. The extra budget is to "resolve a national predicament caused by fine dust" and to support the economy, the finance ministry said. Finance Minister Hong Nam-ki said it would contribute to helping lift growth
Blockchain-powered medical data marketplace Longenesis and biotechnology company Insilico Medicine have entered into an agreement with South Korean hospital Gil Medical Center to create a blockchain-based health data management solution. As part of the collaboration, the parties intend to develop a blockchain-powered platform based on Bitfury’s Exonum blockchain framework to increase the efficiency of data collection, boost medical research processes and ensure transparent management of patient consent. Longenesis will reportedly provide a secure ecosystem for Gil Medical Center to upload, store and manage patients’ private data, allowing patients to control and access their data as well.