NH Investment buys Australian Red Cross‘ building for $86m

[THE INVESTOR] NH Investment & Securities said on July 8 that it bought the Australian Red Cross’ office building in Sydney for some 100 billion won (US$ 86.3 million). The South Korean securities firm raised real estate funds with FG Asset Management to acquire the 12,700-square-meter building in Kent Street, Sydney. Built in 2011, the five-story building is on a 15-year lease contract with the Red Cross. (theinvestor@heraldcorp.com)

July 8, 2016

Thriving underground economy presents terrorism financing threat

[THE INVESTOR] South Korea’s growing underground economy may pose vulnerability to terrorism financing, according to experts. “The size of the Korea’s underground economy is large, about 30 percent of the total gross domestic product,” Kang Kyung-hoon, a professor at Dongguk University, said at a public hearing on the danger of money laundering in Korea, hosted by the Korea Institute of Finance on July 7.  “Terrorism funds have been rarely generated (in Korea), but the danger still persists.”The

July 7, 2016

LG Household shares hit record high

[THE INVESTOR] LG Household and Health Care shares closed at a record high of 1.181 million won (US$ 1,023) on July 7.With this rise, up 2.2 percent from the previous day, LG Household shares rose for the ninth consecutive trading day. The latest increase pushed up the company’s market capitalization to over 18.44 trillion won, placing it in 10th place on the benchmark KOSPI.The rise is thought to be fueled by LG Household’s stable base in China and steady performance. By Choi He-suk (cheesuk@he

July 7, 2016