[DISCLOSURE] Namhae Chemistry (025860) said on Aug. 17 that it has acquired a money market trust worth 18 billion won (US$16.4 million) from its affiliate NH Investment & Securities (005940) to better manage operations and enhance profitability. The firm put 10 billion won in a fixed deposit account and 8 billion won in a money market deposit account. The maturity dates are Nov. 16 and Aug. 23, respectively.

[THE INVESTOR] Tracking overnight losses on Wall Street, stocks in South Korea opened the day low on Aug. 17.The benchmark KOSPI lost 0.38 points, or 0.02 percent, to drop to 2,047.38 in the first 15 minutes of trading.The decline followed overnight losses on Wall Street.The Dow Jones industrial average lost 0.45 percent, with the tech-heavy NASDAQ declining 0.66 percent.Large-cap stocks were mixed across the board. Market bellwether Samsung Electronics lost 0.32 percent.Top automaker Hyundai Mo

[THE INVESTOR] Stocks in Seoul slightly trimmed early morning gains later in the morning on Aug. 16 after responding to gains on Wall Street helped by positive US economic data and a rebound in global oil prices.The benchmark KOSPI rose 1.73 points, or 0.08 percent, to 2,052.20 as of 11:20 a.m. The main index continued to gain after marking a 1.61 percent increase for the whole of last week. On Aug. 12, it closed at 2,050.47 points, hitting fresh yearly highs.Investors will closely watch the min

[DISCLOSURE] LG Chem (051910) announced on Aug. 16 that it has decided not to bid for US-based lightweight materials manufacturer Continental Structural Plastics.The firm participated in the preliminary bidding and submitted a letter of intent with co-bidder and affiliate LG Hausys (108670), but decided to pull out after final review, it explained.

[THE INVESTOR] South Korean shares opened higher on Aug. 16, boosted by positive US economic data and a rebound in global oil prices. The benchmark KOSPI rose 9.12 points, or 0.44 percent, to 2,059.59 in the first 15 minutes of trading.The main index continued to gain after marking a 1.61 percent increase for the whole of last week. On Aug. 12, it closed at 2,050.47 points, hitting fresh yearly highs.(theinvestor@heraldcorp.com)

[THE INVESTOR] South Korean shares traded lower late morning on Aug. 12, retreating from fresh yearly highs a day ago. The benchmark KOSPI hit a 10-month high of over 2,060 during early morning trading. The index shed 2.15 points, or 0.1 percent, to 2,046.65 as of 11:20 a.m.After starting slightly higher, the KOSPI stock index swung between gains and losses. China, South Korea’s No. 1 export destination, reported that its July factory output rose six percent on year, missing analysts’ expectatio

[DISCLOSURE] LS Cable & System (006260) announced on Aug. 11 that it has sold 8,445,487 treasury stocks worth 665.5 billion won (US$603.80 million) to prepare for the initial public offering of its subsidiary LS Cable & System Asia in September.

[THE INVESTOR] South Korean shares opened higher on Aug. 12, thanks to a rebound in global oil prices.The benchmark KOSPI rose 6.98 points, or 0.34 percent, to 2,055.78 in the first 15 minutes of trading.Most large caps traded mixed with Samsung Electronics gaining 0.32 percent. Chipmaker SK hynix declined 0.72 percent. Top automaker Hyundai Motor edged up 0.74 percent, and steelmaker POSCO rose 1.86 percent.Naver, the operator of the country’s leading internet portal, added 0.13 percent.The loc

[THE INVESTOR] South Korean shares traded lower late morning on Aug. 11 on foreign sell-offs. The benchmark KOSPI shed 5.52 points, or 0.27 percent, to 2,039.12 as of 11:20 a.m.As expected, the Bank of Korea kept its key interest rate unchanged at an all-time low of 1.25 percent earlier in the day, citing a need to assess the effect of previous rate cuts. Large caps traded mixed with market kingpin Samsung Electronics shedding 0.45 percent, and global chipmaker SK hynix up 0.15 percent.AmorePaci

[DISCLOSURE] U&I (056090) said on Aug. 11 that the terms of its supply contract with Shangdong Buchang Pharmaceutical regarding K-MET, a metallic bio-absorbable screw to fix bones, has been modified. The exclusive license fee has been changed to US$5 million and the annual fee to at least US$3 million. The license will be valid for 14 years and the total fee is expected to reach at least US$47 million.