LG International’s Q2 operating profit to surge 48%: report

[THE INVESTOR] LG International, a trading arm of LG Group, will post improved second quarter earnings, local brokerage firm NH Investment & Securities said on June 22 while maintaining its “buy” rating. According to the securities firm, LG International’s Q2 operating profit is projected to jump 48 percent on year to 44.9 billion won (US$38.8 million). “The market condition for LG International’s resource development business is improving as copper and coal prices have remained at the previous

June 22, 2016

BOK chief to attend BIS general assembly

[THE INVESTOR] The head of South Korea‘s central bank will visit Basel, Switzerland this week for the annual general assembly of the Bank for International Settlements, the Bank of Korea said on June 22. BOK Gov. Lee Ju-yeol will depart on June 23 to attend the 86th BIS General Assembly to be held over the weekend.BOK governor Lee Ju-yeolWhile in Basel, the South Korean top central banker will also attend the BIS Global Economy Meeting and the Meeting of the Asian Consultative Council where he w

June 22, 2016

Lotte probe bodes ill for Korea’s M&A market

[THE INVESTOR] The ongoing investigation into Lotte Group could deal a significant blow to Korea’s M&A market, finance industry sources say. Lotte Group has come under scrutiny over alleged corruption that runs to the very top, effectively putting all major plans on hold. With Lotte being one of the biggest players in M&As, concerns are growing that the market will feel a major pinch.  123rf.According to finance industry data, Lotte Group spent more than 7.6 trillion won (US$6.57 billion) to tak

June 22, 2016

BOK governor says uncertainties will grow in 2H

[THE INVESTOR] Bank of Korea Gov. Lee Ju-yeol said on June 22 that the Korean economy is expected to see increasing external and internal uncertainties in the second half of the year. He pointed out that the UK’s referendum result on Britain’s exit from the European Union could further spur volatility in global financial market, during a meeting with economic experts held at the central bank’s headquarters in Seoul. Bank of Kora Gov. Lee Ju-yeol. The InvestorLee also expressed concerns that the

June 22, 2016

Green Cross Labcell, ST Pharm to go public

[THE INVESTOR] Korean pharma companies Green Cross Labcell and ST Pharm will list on the secondary bourse KOSDAQ on June 23, the Korea Exchange announced on June 22. Green Cross Labcell, a Green Cross affiliate that develops drugs for incurable diseases, posted 34.5 billion won (US $29.8 million) in sales and operating profit of 2.3 billion won last year. The initial public offering is priced at 18,500 won. ST Pharm, launched in 2008, recorded 138 billion won in sales and 25.2 billion won in ope

June 22, 2016

Samsung Electronics to lead Q2 earnings growth: analysts

[THE INVESTOR] Korea Inc. is expected to show steady growth in the second quarter but only if Samsung Electronics is included in the club. Local securities firms have revised up their projections for aggregate operating profit of 172 companies listed on the benchmark KOSPI to 33.83 trillion won (US$29.2 billion) as of June 22, up 1.67 percent from their forecast a month earlier. “The burden of KOSPI’s high valuation has been eased as major companies’ Q2 revenue forecasts have continuously increa

June 22, 2016