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NS Shopping to wholly own affiliate Hans Convergence

Aug 24, 2016

[DISCLOSURE] NS Shopping (138250) announced on Aug. 24 that it has acquired 30,000 shares of its affiliate Hans Convergence for 5.02 billion won (US$4.47 million) from another affiliate Jeil Holdings in an outside dealing. It now owns the entire stake of the company. (theinvestor@heraldcorp.com)
MS Autotech to guarantee W17b debt of subsidiaries

Aug 24, 2016

[DISCLOSURE] MS Autotech (123040) announced on Aug. 24 that it will guarantee a 12 billion won (US$10.69 million) debt of its subsidiary MyungShin Industry and 4.8 billion debt of another subsidiary MyungShin. The total amounts to 18.03 percent of its equity capital. (theinvestor@heraldcorp.com)
Hana-SK Fintech to become Hana Financial Group's subsidiary

Aug 24, 2016

[DISCLOSURE] Hana Financial Group (086790) announced on Aug. 24 that it has decided to add Hana-SK Fintech, a joint venture with SK Telecom, as its subsidiary. The equity capital is 50 billion won (US$44.52 million) and it owns 51 percent stake of the company.(theinvestor@heraldcorp.com)
Court rules in favor of Celltrion’s Rituxan biosimilar

Aug 24, 2016

[THE INVESTOR] Celltrion announced Aug. 24 the Korea Intellectual Property Tribunal found Biogen’s rituximab patent invalid on Aug. 23.The South Korean biopharmaceutical company contested the move to challenge the validity of Biogen’s patents related to its Rituxan, an original of its cancer-treatment biosimilar Truxima, in 2015. Biogen holds three patents related to the blockbuster drug that raked in US$7.3 billion won across the world last year, and this leaves only one out of five patents rel
LG Hausys fails with bid to acquire CSP

Aug 24, 2016

[DISCLOSURE] LG Hausys (108670) announced on Aug. 24 that it has failed with bid to acquire Continental Structural Plastics, a US manufacturer of lightweight materials for vehicles. The industrial materials manufacturer has participated in the final round of bid to acquire the US company although its affiliate LG Chem has pulled out as its partner. (theinvestor@heraldcorp.com)
Hanwha Q Cells posts stellar Q2 performance

Aug 24, 2016

[THE INVESTOR] Hanwha Q Cells, Hanwha Group’s NASDAQ-listed affiliate, reported Aug. 24 that its second-quarter operating profit came to US$84.5 million, skyrocketing 8,450 percent from the same period last year, and marking a 49 percent surge from the previous quarter. Its revenue more than doubled from 2015’s US$338 million to US$638 million, which was also a 14 percent rise from the previous quarter. Maywood Solar Farm constructed by Hanwha Q Cells in Indianapolis, Indiana.In April 2015, the
DSME delivers drillship, secures W150b liquidity

Aug 24, 2016

[THE INVESTOR] Daewoo Shipbuilding & Marine Engineering has delivered a drillship to Transocean in accordance with a 2013 order, it announced Aug. 24.It will collect 150 billion won (US$133.7 million) upon delivery, a relief for the cash strapped South Korean shipbuilder.The ultra-deep-water drillship, the largest model built by Daewoo, is the tenth newly built drillship to be supplied to Transocean, the largest offshore drilling contractor. The US company based in Switzerland is a major client
Protec exercises preemptive rights for stocks worth W2b

Aug 24, 2016

[DISCLOSURE] Protec (053610) announced on Aug. 24 that it has exercised preemptive rights and 245,188 shares, worth 2 billion won (US$1.78 million), will be listed on Sept. 9.(theinvestor@heraldcorp.com)
IE's largest shareholder changes to Above Joy, Virgin Island SPC

Aug 24, 2016

[DISCLOSURE] IE (023430), formerly Integrated Energy, announced on Aug. 23 that its largest shareholder has changed to Above Joy from New Concept Capital following a capital increase with third-party allotment. Above Joy is a special purpose corporation based in Virgin Island with impaired capital and owns 23.17 percent stake (46,131,497 shares) of the company. (theinvestor@heraldcorp.com)
SKC to participate in Chinese subsidiary’s W49b capital increase

Aug 24, 2016

[THE INVESTOR] SKC, the high-tech chemical unit of SK Group, said on Aug. 23 it will participate in its Chinese subsidiary SKC Jiangsu High Tech Plastics’ 49 billion won (US$43.6 million) capital increase.The Chinese polyester film manufacturer is raising capital to finance 8.2 billion won capital spending and 40.75 billion won operation funds. “The decision is to improve the subsidiary’s financial structure and to invest in new facilities,” explained the petrochemical company. SKC established a
SM KLC to increase Samsun Logix stake to 73.8%

Aug 23, 2016

[DISCLOSURE] SM Korea Line Corporation (005880) announced on Aug. 23 that it will acquire 5,010,606 shares of Samsun Logix at 9.34 billion won (US$8.35 million). The acquisition date is Sept. 30 and it will own 73.8 percent stake of the shipping and trading company. (theinvestor@heraldcorp.com)
Iljin Power Energy receives W4b maintenance order from KOSPO

Aug 23, 2016

[DISCLOSURE] Iljin Power Energy (094820) announced on Aug. 23 that it has received a 4.08 billion won (US$3.65 million) order from Korea Southern Power Corporation for an overhaul at Hadong Thermal Power Site. This amounts to 3.45 percent of its revenue last year. (theinvestor@heraldcorp.com)
Dong-A Socio Holdings to raise W177b to acquire ST Pharm

Aug 23, 2016

[THE INVESTOR] Dong-A Socio Holdings announced Aug. 23 that it has decided on a 177.2 billion won (US$158.4 million) capital increase to take over its affiliate ST Pharm, an active pharmaceuticals ingredient company. In a tender offer to take over the company, it will purchase 3.3 million stocks from ST Pharm stakeholders and in turn issue new stocks of the holding company for them. A total of 989,887 shares will be issued at 178,989 won per share. By Hwang You-mee (glamazon@heraldcorp.com)
Cristal New Material's H1 operating profit up 35.3% to W15b

Aug 23, 2016

[DISCLOSURE] Cristal New Material (900250) reported on Aug. 23 that its operating profit in the first half jumped 35.3 percent to 14.8 billion won (US$13.23 million) from the same period last year. Sales increased 16 percent to 31.1 billion won and net profit hiked 32.8 percent to 12.6 billion won on-year. Revenue from synthetic mica flakes rose 36 percent to 6.7 billion contributing to the overall sales growth. The company is expanding the manufacturing facility for the product and is forecasti
YG Entertainment to pay W3b after regular tax audit

Aug 23, 2016

[THE INVESTOR] The National Tax Service will collect an additional 3.4 billion won (US$3.04 million) in taxes from YG Entertainment, closing a three-month regular tax audit, according to media reports Aug. 23. Tax authorities have imposed penalties on corporate tax evasion found in the process of the leading entertainment company’s business expansion and establishment of overseas subsidiaries. The company has already paid in full, according to a company official. Big BangIt had been eight years