[THE INVESTOR] Cheil Worldwide, the advertising unit of Samsung Group, has teamed up with Facebook to expand its presence in the soaring mobile advertisement market. Under the partnership announced on July 11, Cheil and Facebook will develop diverse ad platforms and products using Facebook and Instagram services. Facebook has also invited Cheil executives to participate in the Facebook Ambassador program organized by the social network giant’s Asia-Pacific branch to offer them opportunities for

[THE INVESTOR] NH Investment & Securities is set to invest 700 billion won (US$599.5 million) in Yeouido’s Parc One multiple complex, according to sources familiar with the issue on July 11. The firm recently reached an agreement with property developer Y22 Development Co. to buy a 56-story office building -- one of the four buildings to be built within the complex. A bird's eye view of Parc One multiple complexNH Investment & Securities will dip into its own coffers for 200 billion won of the a

[THE INVESTOR]The South Korean manufacturing sector expects conditions to worsen during the third quarter of the year, a survey showed on July 11. According to the Business Survey Index compiled by the Korea Institute for Industrial Economics and Trade, local manufacturing companies expect third-quarter sales and exports to worsen compared to the previous quarter.In the survey of 462 manufacturing companies, the BSI for exports and sales respectively came in at 98 and 97 points. A BSI below 100

[THE INVESTOR] POSCO, South Korea’s biggest steelmaker, plans to heavily invest in titanium as a new growth engine, local news reported on July 10. “The use of titanium is expanding and the value addition is high, which will boost profitability in the future,” an official at POSCO said. Titanium is a metal used widely in industries ranging from aviation to munitions. It boasts 43 percent lighter weight than steel, while it has the double the strength of aluminum alloy. With the advancement of te

[THE INVESTOR] Dongkuk Steel Mill ’s second quarter operating profit soared 156.4 percent from a year ago to come in at 99 billion won (US$86.4 million) the steelmaker said on July 11. The company’s second-quarter sales came in at just under 1.17 trillion won, down 1.5 percent over the same period, while net profits dropped 59.6 percent to 36.4 billion won. The company said that second-quarter figures were boosted by improving sales of colored plates and steel bars. It also said that restructuri

[THE INVESTOR] Huneed Technologies, a South Korean military communications equipment maker, will supply electronics parts for the Boeing CH-47 Chinook, local media reported on July 11. This is the first time a South Korean defense equipment maker will be supplying parts for a foreign helicopter model. Boeing CH-47 Chinook / BoeingAccording to reports citing unnamed defense industry sources, Huneed Technologies signed a US$120 million supply contract at the end of last month. The company posted s

[THE INVESTOR] South Korea’s electricity industry aims to increase the amount of exports to US$ 15 billion by end of this year, the state-run corporation said on July 8. The Korea Electric Power Corporation held a conference in Seoul to announce its plans and strategies to expand its presence internationally. Over 200 industry officials from major companies such as POSCO, Korea Trade-Investment Promotion Agency and Korea Hydro and Nuclear Power Corporation attended the event. The electricity exp

[THE INVESTOR] Despite the protracted slump in the local shipping industry, South Korean shipbuilders took the largest volume of new orders of vessels in June, industry data showed on July 8. According global research firm Clarkson Research Services, South Korean shipbuilders clinched new contracts of 370,000 compensated gross tonnage, or eight ships, out of the total 960,000 CGT, or 51 ships, in June. DSME shipyardThis is the first time South Korean shipbuilders ranked No.1 in terms of monthly

[THE INVESTOR] A former Lotte Chemical finance executive has been indicted on charges of tax fraud on July 8. The suspect, identified by the surname Kim, is the first individual to be indicted since the probe into Lotte Group began early last month. The investigators are reported to be focusing on whether Lotte Group chairman Shin Dong-bin was aware of the alleged wrongdoings as he was serving as Lotte Chemical CEO at the time. Lotte Group chairman Shin Dong-bin (center) / The InvestorKim is sus

[THE INVESTOR] South Korea’s second-largest shipper Hyundai Merchant Marine said on July 8 that it will visit major credit rating agencies to explain about its ongoing restructuring measures, in hopes they reevaluate the credit standing of the ailing company. The company will visit the rating agencies Korea Investor Services, Korea Ratings and National Information and Credit Evaluation and talk about their restructuring plan process, including the asset sales, negotiations to reduce charter rate

[THE INVESTOR] Hyundai Rotem, a train-making unit of Hyundai Motor Group, said on July 8 that it has become the final bidders together with France’s Alstom for Cairo’s 1 trillion won (US$860 million) train project. If the company wins the bid finally, it will become its largest order secured this year. The winner has to supply a total of 510 electric locomotives to Cairo’s metro Line 3. Even though Alstom is a potent competitor, Hyundai Rotem is confident of winning the deal. Hyundai Rotem's tra