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POSCO Daewoo eyes overseas cosmetics markets

Sept 13, 2016

[THE INVESTOR] POSCO Daewoo announced on Sept. 13 that it has signed a memorandum of understanding with cosmetics company Caolion to jointly expand to overseas markets. The trading arm of South Korean steelmaker Posco will provide sales channels worldwide from Europe -- including the UK, Germany and Poland -- and Asia -- including China and Thailand -- to Central and South America. A signing ceremony between POSCO Daewoo and Caolion. POSCO Daewoo“Through our local network across the world, we w
KOGAS to develop LNG terminal in Brazil

Sept 13, 2016

[THE INVESTOR] Korea Gas has signed a memorandum of understanding with Ceara state government of Brazil on Sept. 9 for a project to develop a liquefied natural gas terminal, it announced on Sept. 13.The state-owned company will form a consortium with a civil partner and transform the current floating storage regasification unit at Pecem port to an onshore unit. Based on this project, the gas company is seeking to develop a “total LNG business solution model” that offers a package deal from impor
Cha Biotech’s subsidiary reviewing overseas expansion

Sept 13, 2016

[THE INVESTOR] Cha Biotech announced on Sept. 12 that its subsidiary Cha Healthcare (formerly CHO) has several projects in development to take over or establish medical facilities such as a women’s hospital in the US, Japan and Taiwan, in a statement released in response to Korea Exchange’s inquiry. “We have come down to a single strong Chinese candidate to form a partnership to expand into China and Hong Kong, but nothing has been determined yet,” added the Cha Biotech, an affiliate of Cha Medi
Kyungnam Energy up for sale

Sept 13, 2016

[THE INVESTOR] Kyungnam Energy’s majority shareholders have decided to sell their combined 96.5 percent stake, according to news reports on Sept. 13. Sangwon Comtru and Anchor Equity Partners are seeking to appoint a lead manager for the sale of the supplier of liquefied natural gas and petroleum gas based in South Gyeongsang Province. It has posted sales of 353.3 billion won (US$318.20 million) and operating profit of 20.2 billion won in the first half of 2016. The company delisted in May. Sang
Kanglim, SBW to take over filter, sensor maker Nanos

Sept 12, 2016

[THE INVESTOR] Kanglim announced on Sept. 12 that its consortium with subsidiary Ssangbangwool has been selected as the preferred bidder to acquire Nanos, an optical filter manufacturer. The special-purpose vehicles company and its innerwear maker subsidiary outbid six other competitors for Nanos that has the largest capacity for filters. The firm, established by former Samsung Electro-Mechanics employees, went under court receivership in April after losing its major client Samsung Electronics a
Dasan Networks merges with Zhone Tech of US

Sept 12, 2016

[THE INVESTOR] Dasan Networks announced on Sept. 12 that it has finalized the merger of its wholly owned subsidiary Dasan Network Solutions with US-based Zhone Technologies.Implementing the agreement signed in April, Zhone Technologies has acquired Dasan Network Solutions from its parent company and in turn the South Korean company took over newly issued common stocks of the combined company named DASAN Zhone Solutions, owning 58 percent stake. Two co-CEOs, appointed by each company, will head t
Huons takes over Biotopia

Sept 12, 2016

[THE INVESTOR] Huons announced on Sept. 12 that it has taken over Biotopia, a bio-agrochemical enterprise that specializes in feed additives. The company of 25 employees recorded 2.7 billion won (US$2.43 million) revenue last year. With an emphasis on research and development, Biotopia also retains technology to reduce odor from livestock wastewater. Huons will expand business from its medicine, food and cosmetics to agriculture and livestock.By Hwang You-mee (glamazon@heraldcorp.com)
Hyndai Heavy to supply mini excavators to CNHI

Sept 12, 2016

[THE INVESTOR] Hyundai Heavy Industries announced on Sept. 11 that it has signed a 10-year partnership with CNH Industrial to provide mini excavators.CNHI will sell Hyundai’s mini excavators under its own brands CASE and New Holland through its 1,200 dealers worldwide. Hyundai will manufacture the original equipment, supplying 5 to 6 ton models as fully disassembled items and 1 to 4 ton models in completely knocked down format. The two companies will also jointly develop new models. The global c
KEPCO considers investing in UK nuclear power plant

Sept 12, 2016

[THE INVESTOR] Korea Electric Power Corp. is weighing joining the NuGen Consortium for a 10 billion pounds (US$13.27 billion) nuclear power plant in UK, according to the Financial Times on Sept. 12.The state-owned firm has resumed talks to join existing owners Toshiba of Japan and Engie of France to build a 3.8 gigawatt new plant at Moorside on the Cumbrian coast, which is expected to provide power to 6 million households. NuGen and KEPCO held negotiations in 2013 but failed to reach an agreemen
Asiana Airlines to increase capital by W166b

Sept 12, 2016

[DISCLOSURE] Asiana Airlines (020560) announced on Sept. 9 that it has decided on a 166.2 billion won (US$149.69 million) capital increase with allotment to shareholders, to improve financial structure. The expected issue price is 5,000 own per share. (theinvestor@heraldcorp.com)
Coway’s denies sell-off rumors

Sept 9, 2016

[THE INVESTOR] Coway denied reports that its largest shareholder Coway Holdings will sell off its stake, in a statement released on Sept. 9 in response to Korea Exchange’s inquiry.The holding company did consult Goldman Sachs on a variety of strategies including sell-off but decided not to proceed as it decided that the stock price was underestimated, Coway added.The country’s leading water and air purifier maker has recently been under fire for having knowingly sold nickel-contaminated water p
‘Time commerce’ apps spread in hotel industry

Sept 9, 2016

[THE INVESTOR] “Time commerce” apps are rapidly changing the way people are reserving hotel rooms, industry officials said on Sept. 9.It‘s apparently a win-win business model for consumers and hotels, timed with the spread of the view that hotels are not just a place to sleep but also a space for entertainment and rest.Time commerce methods for hotel reservation services enable people to book vacant rooms at cheaper prices. On the day of a stay, vacant rooms are provided at a huge discount, for
Daehwa Pharma earns approval for world’s first oral anti-cancer drug

Sept 9, 2016

[THE INVESTOR] Daehwa Pharmaceutical announced on Sept. 9 that its oral cancer treatment DHP107 has been granted approval for manufacturing and sales by the Ministry of Food and Drug Safety.DHP107 is a modified version of paclitaxel, a therapy for breast, ovarian, lung and uterine cancers to be taken orally, a first of its kind in the world. Paclitaxel had to be diluted before it was administered via intravenous injection. And steroids and antihistamine had to be administered to prevent possibl
Celltrion’s antibody for flu gets US patent

Sept 9, 2016

[THE INVESTOR] Celltrion announced on Sept. 9 that CT-P23, its antibody to treat seasonal flu, has obtained a US patent. This antibody neutralizes Influenza A virus and is effective in diagnosis, prevention and treatment of the virus, the biopharmaceutical company explained. By Hwang You-mee (glamazon@heraldcorp.com)
KOSPO to supply hydropower in Papua New Guinea

Sept 9, 2016

[THE INVESTOR] Korea Southern Power (KOSPO) has signed a memorandum of understanding with Papua New Guinea’s Department of Works and Implementation for development of PNG Hydro Power, it announced on Sept. 9. The Oceanian country’s annual amount of precipitation is 2,000 millimeters, favorable for hydropower generation. And the South Korean public enterprise will seek to secure adequate power through this source, and expand cooperation in renewable energy.Only about 10 percent of the nation’s po