S-OIL to issue W300b bonds

[THE INVESTOR] S-OIL is preparing for a 300 billion won (US$ 267.58 million) bond issuance in September, local media reported on July 29.According to reports citing unnamed financial industry sources, the refiner has selected Shinhan Investment and NH Investment and Securities to oversee the deal. S-OIL, rated “AA+,” is said to be looking to issue bonds with 5-year or longer maturity. The funds raised from the sale will be injected into the company’s plant in Ulsan which is under construction. B

July 29, 2016

LG International reviews issuing bonds to raise capital

[THE INVESTOR] LG International is reviewing plans to issue bonds for raising 100 billion won (US$89.19 million) in August, local media reported on July 29.According to reports, the trading arm of LG Group is considering issuing 3-year and 5-year bonds. The company’s credit rating is “AA-.” LG Group headquarters in Yeouido, western Seoul.LG International said that the funds raised through the bonds would go toward funding its operations, saying that none of the previously issued bonds reach matu

July 29, 2016

Daelim Industrial price raised on earnings surprise

[THE INVESTOR] Analysts raised their target price for Daelim Industrial, South Korea’s major builder, on July 29 as the firm posted better-than-expected quarterly revenue and earnings. For the quarter ending in June, Daelim Industrial logged 2.56 trillion won (US$2.27 billion) in sales, up 9 percent year on year and operating income of 136.2 billion won, up 115.9 percent from a year earlier. An apartment complex built by Daelim Industrial in Ulsan, South Korea.“The earnings surprise was led by i

July 29, 2016

Capital gains tax on stock sales to be widened from April 2018

[THE INVESTOR] The capital gains tax on profits reaped from sale of stocks will be levied on a wider range of shareholders as the government pushes to subject all stock sales to taxation. According to the tax revision announced on July 28, capital gains tax will be levied on individuals who hold 1.5 billion won (US$1.33 million) or more of an individual company’s shares from April 2018. Both Kospi- and Kosdaq-listed stocks will be subjected to the same limit. At present, only those who hold more

July 28, 2016

Gov’t to launch market for startup stakes

[THE INVESTOR] The KRX Startup Market will be established this year to facilitate trading stakes in startups that raise money through crowdfunding, Financial Supervisory Commission Chairman Yim Jong-yong said on July 28. “A dedicated market for trading stakes in companies (which used crowdfunding) will be established to enable (investors) to reclaim their money early,” Yim said at an event marking six months since the introduction of crowdfunding. Since crowdfunding was introduced, 4,445 individ

July 28, 2016