[THE INVESTOR] Green Cross announced on Oct. 13 that it will suspend clinical trials of GreenGene F, a treatment for A-type hemophilia, in the US and will focus on China. The suspension is due to the difficulty in recruiting participants with the rare bleeding disorder in which the blood does not clot normally. “We expected the clinical trials in the US to take two to three years, but as it is a rare disease, the recruitment overextended the trial timetable,” said an official. The clinical trial

Oct. 13, 2016

[THE INVESTOR] Kumho Industrial announced on Oct. 12 that it will invest 50 billion won (US$44.37 million) in its affiliate Asiana Airlines to strengthen control. The parent company of Kumho Asiana Group will participate in the airline’s capital increase and will acquire 10 million newly issued shares at 5,000 won apiece. The due date is Nov. 7. After the acquisition, its stake will increase to 33.49 percent from 30.08 percent. Asiana Airlines, the country’s second largest full service carrier,

Oct. 13, 2016

[THE INVESTOR] Celltrion announced on Oct. 12 that its influenza antibody CT-P27 has been approved by the Ministry of Food and Drug Safety to initiate the 2b phase of clinical trials. The novel therapeutic agent for treatment against universal influenza binds to the stem region of hemagglutinin, the major viral surface protein, and inhibits the entry of influenza virus into host cells. In the previous clinical trials carried out in the UK, it was found to greatly reduce concentration of viruses

Oct. 12, 2016

[THE INVESTOR] Nexon announced on Oct. 12 that it has acquired 49 percent stake in iDCC, a Thai game publisher, and became it largest stakeholder. Nexon will take over the remaining stake upon government approval. Established in 2010, iDCC services online games including a role-playing game “12 Tails Online”. South Korea’s largest online game developer is seeking more business opportunities in Southeast Asia where the growth potential is huge, starting with Thailand which accounts for over 20 pe

Oct. 12, 2016

[THE INVESTOR] Ahngook Pharmaceutical announced on Oct. 12 that it has signed an agreement with multinational pharmaceutical company Menarini for sales rights of its cough syrup Synatura in seven Central American countries. The Italy-based company will have sales and marketing rights of the cough and mucus reducer in Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Belize. The contract amount remains undisclosed. Synatura Syrup was introduced in 2011 by the South Korean firm.B

Oct. 12, 2016

[THE INVESTOR] The Seoul Central District Court has chosen UAMCO as the preferred bidder to take over Young Hwa Construction and Engineering, according to news reports on Oct. 11.UAMCO, an asset management jointly set up by local banks that specializes in non-performing loans, will sign a memorandum of understanding later this week, and will create a project fund to finance the deal estimated to be between 50 billion won (US$44.51 million) and 60 billion won. Young Hwa C&E is owned by Young Hwa

Oct. 12, 2016

[THE INVESTOR] Hana Financial Group’s third-quarter performance will be above market expectations and the stock price is still underestimated, said Mirae Asset Securities on Oct. 12. The securities firm maintained a “buy” recommendation and raised the target price to 42,000 won (US$37.39).The finance firm’s “third-quarter net profit will surge 38 percent to 352.4 billion won on-year,” said Kang Hye-seung, an analyst at Mirae Asset. “Following the drop in exchange rate from last quarter, 45 billi

Oct. 12, 2016

[THE INVESTOR] Korean Air will post record high earnings and the uncertainty on additional funding for Hanjin Shipping will be resolved, according to Mirae Asset Daewoo Securities on Oct. 11. The securities firm maintained a “buy” recommendation and the target price of 38,000 won (US$34.25). South Korea’s largest full service carrier will post 441.6 billion won operating profit in the third quarter, a 30.1 percent hike from the same period last year, and 3.13 trillion won revenue, up 5.3 percent

Oct. 11, 2016