[THE INVESTOR] The combined market capitalization of the nine Lotte Group firms listed on local markets dropped by more than 1 trillion won ($851.8 million) on Monday.The drop is thought to have been driven by the expanding corruption probe centered on the members of its founding family -- Shin Kyuk-ho and his two sons Shin Dong-joo and Shin Dong-bin. At the end of the market close on Monday, nine listed Lotte Group firms’ shares dropped compared to the closing prices on Friday. (The Korea Heral

Hotel Lotte withdraws IPO as embezzlement probe deepens

Korean steelmaking giant POSCO was the most popular stock this year for foreign investors, market data showed Monday, amid improving sentiments helped by its better-than-expected earnings. According to financial data provider FnGuide, foreign investors bought a net 475.8 billion won ($407.3 million) worth of POSCO stocks on the Seoul bourse during the January-May period. This was the largest portion of foreign net buying, which came to about 3.39 trillion won in the period.Shares in the steelmak

Korea’s stock market operator will extend trading hours of the stock and derivatives markets by 30 minutes from August, in a bid to synchronize them with other Asian markets, Korea Exchange said Tuesday. The bourse operator said the markets will be open from 9 a.m. to 3:30 p.m., aiming to invigorate the sluggish equity market. Kim won-dae, the head of the securities market division at KRX, speaks during a press conference, held in Seoul, Tuesday. (KRX)“The Korean equity market is increasingly ex

In the world of dental implants, Korea is an outlier. Nearly 250 out of every 10,000 people in the population receive such treatment here, putting Korea at the top of the world in implant penetration. Getting an implant costs just $1,000-$1,500 (1.3 million won-1.8 million won) in this country with per capita income of $27,340. Credit for the popularity of one of the most expensive dentistry procedures goes to Osstem Implant. Osstem Implant‘s dental implant productsThe company, formed in 1997 by

South Korean retail giant Lotte Group's hotel unit said Thursday it will go public on the KOSPI market on June 29, which is expected to fetch over 5 trillion won ($4.19 billion) to mark as the nation's largest-ever initial public offering.Hotel Lotte Co. said in a regulatory filing that it will offer 47.85 million shares at a range between 97,000 won to 120,000 won per share. Hotel Lotte (Yonhap)The offering is estimated to be around 4.6 trillion to 5.7 trillion won, and its medium range of pric

A bag of immensely popular potato snacks has become an unexpected game changer for local confectionery shares. Due to the success of the Honey Butter Chip, its manufacturer Haitai Confectionery and Foods has recovered the No. 2 spot in sales in the Korean confectionery market for the first time in five years. The firm’s share prices have also soared. Honey Butter chip (Yonhap)Haitai share prices closed at 53,800 won ($45.6) on Monday, a whopping 250 percent above its May 11 initial public offeri

Green Cross Corp., a listed Korean pharmaceutical company, said Thursday that it plans issue three and five-year bonds worth some 100 billion won ($86 million) to finance its expansion overseas.The company’s bond underwriter NH Investment & Securities will evaluate the value of the bonds graded AA minus through a book building process next week. Its bond issues mark the first time for the company to raise funds in the local capital market.“The proceeds will be used for its expansion in the advan

Caregen is not a typical Korean biotechnology company local investors are most familiar with.When it comes to biotech shares trading on the stock market, LG Life Sciences or Medy-Tox would generally come to mind. They are big biotech players, with the market cap of LG Life Sciences reaching over 1 trillion won ($858.8 million) on the benchmark KOSPI. Medy-Tox ranks 6th with nearly 3 trillion won in market cap on the tech-heavy KOSDAQ.Caregen’s booth at the World Congress of Dermatology in Vancou

Paradise, Korea’s largest foreigners-only casino operator, may show a gradual rebound in the latter half of the year, following strong headwinds faced by the country’s casino industry last year. The recovery of Paradise, which runs casinos in three major cities in Korea and on Jejudo Island, will continue at “a modest pace” this year and its new resort Paradise City, which is under construction in Incheon, will help the company to attract more VIPs from 2017, analysts said.The headquarters of Pa