The Korea Herald

안녕하세요 황유미 기자입니다.

Articles by 황유미

Too cool for school sets up JV in China

Sept 7, 2016

[THE INVESTOR] South Korean cosmetics firm Too cool for school has signed an agreement with Chinese fashion enterprise Harson to establish a joint venture on Aug. 26, according to news reports on Sept. 7.The 6-year old beauty brand has invested US$6 million and owns 60 percent stake in the JV named Shanghai too cool Cosmetics, which will distribute and sell the South Korean cosmetics in China. The JV will last 10 years with neither party allowed to sell its stake, and Harson will not be able to
Biosimilar manufacturers to tackle cancer

Sept 6, 2016

[THE INVESTOR South Korean biopharmaceutical companies are shifting their focus to biosimilars of cancer treatment drugs as a number of blockbuster originals hit the patent cliff, according to the industry on Sept. 5. Samsung Bioepis will seek approval for breast cancer treatment SB3 from European Medicines Agency within this month. Its reference drug Herceptin has recorded US$6.8 billion sales in 2015 and its patent expired in 2014. The company also found that SB3 is equally effective for gast
Korea Trade Insurance backs UK power plant building with W221b insurance

Sept 6, 2016

[THE INVESTOR] Korea Trade Insurance Corp. announced on Sept. 6 that it will provide 221 billion won (US$200 million) project financing for Samsung C&T’s biomass power station project in UK. Samsung C&T has formed a consortium and won the turnkey contract to build the plant worth 958 billion won, and its stake is about one-fourth of the project. The public insurer will offer mid- to long-term insurance for the construction of the 299-megawatt combined heat and power plant, said to be the largest
KDB funds 100m euros to build hospital in Turkey

Sept 6, 2016

[THE INVESTOR] Korea Development Bank announced on Sept. 6 that it will fund 100 million euros for Samsung C&T’s project to build a hospital in Turkey.It is underwritten by the bank’s US$1 billion multilateral development bank special fund created in May to support South Korean companies in winning orders to build infrastructure in developing countries. The special fund is co-financed by Asian Infrastructure Investment Bank and export credit agencies including Korea Trade Insurance Corp. and thi
SKT, Intel partner for media cloud technology

Sept 6, 2016

[THE INVESTOR] SK Telecom announced on Sept. 6 that its media platform providing subsidiary ENTRIX and Intel Korea have signed a memorandum of understanding on cooperation to jointly develop solution and server for media cloud. The two companies will incorporate the cloud streaming solution of SKT’s wholly owned subsidiary with Intel’s Xeon processor, so that they can provide better data traffic and bigger storage with less power consumption. They are seeking to complete the development by the e
Mirae Asset chairman strengthens control with W250b investment

Sept 6, 2016

[THE INVESTOR] Mirae Asset Capital announced on Sept. 5 that it has decided to increase capital by 250 billion won (US$226.26 million).The financing arm of Mirae Asset Financial Group will issue 7,302,254 shares at 34,236 won per share and offer to its affiliate Mirae Asset Global Investments. This is in accordance with the Specialized Credit Financial Business Act revised in March that limits the stake held by a financial firm in its affiliate to 150 percent of its equity capital. Mirae Asset F
LG Chem to comment on LG Life Science merger reports

Sept 6, 2016

[DISCLOSURE] Korea Exchange requested a statement from LG Chem (051910) regarding the news reports saying that it will merge with its affiliate LG Life Science (068870) on Sept. 6.(theinvestor@heraldcorp.com)
Kolon acquires air bag factory in Vietnam

Sept 5, 2016

[THE INVESTOR] Kolon Industries announced on Sept. 5 that it has acquired the air bag sewing division of Hanyoung Industry for about 17 billion won (US$15.23 million). The sewing factory in Vietnam produces 7 million air bag cushions a year, and will serve as an operating base for the manufacturing affiliate of Kolon Group that seeks to tackle fast-rising air bag markets in Asia.The company decided to invest in its first Chinese factory in Nanjing so that it can produce an additional 600,000 fro
Lotteria to open first Laos outlet

Sept 5, 2016

[THE INVESTOR] Lotteria will open its first outlet in Laos on Sept. 9, it announced on Sept. 4. This is the first time a South Korean company has entered the Southeast Asian country. Starting with the two-story store in the capital city of Vientiane, the fast food franchise will open a total of 18 outlets in Laos by 2020 under a partnership with Socxay Chaleun Group, a local distribution specialist.With this, Lotteria will have a presence in seven nations, including among others Myanmar, Cambodi
Ilyang Pharma exports US$200m ulcer treatment tech to Russia

Sept 5, 2016

[THE INVESTOR] Ilyang Pharmaceutical has signed an agreement to export its technology for its new ulcer treatment Noltec to Russia’s largest pharmaceutical company R-Pharm, the company announced on Sept. 5.The South Korean pharmaceutical company developed ilaprazole -- trade name Noltec -- in 2008 and the drug’s turnover in the first half of this year reached 6 billion won (US$5.42 million), a 7.2 percent rise from the same period last year. The US$200 million contract includes exclusive supply
NHN Entertainment invests US$4.5m in Finnish game developer

Sept 5, 2016

[THE INVESTOR] NHN Entertainment announced on Sept. 5 that it will invest US$4.5 million in Finnish game developer Critical Force Entertainment and publish its next game “Critical Ops” in Asia. The company was established in 2012 and its first game “Critical Strike”, a first-person shooter, was downloaded over 40 million times worldwide. This investment signifies the expansion of the team and provides additional growth momentum to lay out the strategy to lead the mobile e-sports industry, said
Hyundai E&C wins US$1.5b contract to build factory in Russia

Sept 5, 2016

[THE INVESTOR] Hyundai Engineering and Construction announced on Sept. 5 that it has signed a US$1.51 billion contract with Zao Nakhodka Mineral Fertilizers Factory to build a fertilizer plant in Kozmino, Nakhodka on Sept. 3. This amounts to 8.84 percent of its 2015 revenue. By Hwang You-mee (glamazon@heraldcorp.com)
Korean Air suffers W76b loss from derivative securities

Sept 2, 2016

[DISCLOSURE] Korean Air (003490) announced on Sept. 2 that a total of 76.4 billion won (US$68.29 million) loss has occurred in derivative securities transaction including contract for difference of total return swap, securities option and interest rate swap. (theinvestor@heraldcorp.com)
Hotel Shilla reviewing plans for tradtiional hotel in Seoul

Sept 2, 2016

[DISCLOSURE] Hotel Shilla (008700) announced on Sept. 2 that it is selecting firms for design and construction and is reviewing details of construction plans to build a traditional hotel in its site in Jangchung-dong, Seoul, in a statement released in response to Korea Exchange’s inquiry regarding the news reports. (theinvestor@heraldcorp.com)
POSCO E&C downgraded by Moody’s

Sept 2, 2016

[THE INVESTOR] Moody’s Investors Service announced on Sept. 2 that it has downgraded the credit rating of POSCO Engineering & Construction to “Ba1," a level down from “Baa3”. The rating outlook remains “stable." “The downgrade follows the large losses that POSCO E&C reported for H1 2016, because of the cost overruns at its steel plant in Brazil,” said Joe Morrison, vice president and senior credit officer at the international ratings agency, adding that “the company is also vulnerable to potenti