[THE INVESTOR] Hanwha Chemical reported on Aug. 11 that its operating profit in the second quarter increased 213.16 percent from the same period last year to 293.56 billion won (US$267.60 million), its highest quarterly figure. Its sales increased 19.1 percent to 2.39 trillion won and net profit surged 835.1 percent to 310.16 billion won on-year. Its petrochemicals and solar businesses backed the chemical arm of Hanwha Group’s strong performance. In petrochemicals, low oil prices led to lower pr

[THE INVESTOR] STX Offshore & Shipbuilding is seeking to sell off STX France. The company, currently under court receivership, turned in a plan to sell its French affiliate on Aug. 9 and was granted permission. STX is seeking to select a lead financial advisor for the sale by the end of this month and complete the sale within this year. This is the third time STX is trying to sell STX France which it took over in 2009. STX Offshore & Shipbuilding has a two-third stake through its subsidiary STX

[THE INVESTOR] South Korea’s largest steelmaker POSCO has signed a memorandum of agreement with North Gyeongsang Province on Aug. 11 to expand into titanium alloy business.POSCO already manufactures pure titanium products but will further the scope to include titanium alloy, a high added-value material lighter than steel and more durable than aluminum alloy. Mainly used for airplanes and satellites, the world’s demand for the material last year was estimated to be as much as 80,000 tons. POSCO h

[THE INVESTOR] SK Chemical is releasing a flu vaccine, the first cell culture vaccine that covers four strains of influenza viruses, next month. A total of 5 million units have been manufactured, it announced on Aug. 10. Dubbed SKY Cell Flu Quadrivalent, “it is a next generation vaccine that can prevent four kinds of viruses with a single vaccination,” the company said.SK Chemical's vaccine production line. SK chemical[Multinational firm Glaxo Smith Kline already sells its own quadrivalent, that

[THE INVESTOR] Korea Gas (036460) reported on Aug. 10 that its operating loss in the second quarter came in at 6.4 billion won (US$5.90 million). Revenue declined 28.81 percent to 3.54 trillion won and net loss ballooned 162.86 percent to 106.3 billion won from the same period last year.The public corporation explained that “fall in the oil price led to a decrease in the net profit” adding that “the debt-equity ratio declined from last year’s 321.5 percent to 294 percent in the first half.” Kore

[THE INVESTOR] Medipost announced on Aug. 10 that it has obtained a US patent for administering mesenchymal stem cells derived from umbilical cord blood to treat nerve injuries. “This patented method can be applied to treat hypoxic-ischemic brain injury strokes, Alzheimer’s, Pick’s, Huntington’s and Lou Gehrig’s diseases, and traumatic central nervous system disorders,” according to the biotechnology company. This is the 13th patent Medipost obtained this year, the highest number among South Kor

 [THE INVESTOR] Daelim Energy has signed an agreement with Overseas Private Investment Corporation, the US government’s development finance institution, to finance US$100 million for Hawa Energy power project in Pakistan, the company announced on Aug. 10.Daelim Energy in a power and resources  affiliate of  South Korea's leading conglomerate Daelim Group. The power project will develop and operate a 50-megawatt wind power facility in southwestern Pakistan and the total amount will be US$130 mill