The Korea Herald

LIG Nex1’s R&D capabilities on par with Boeing, Lockheed Martin

[THE INVESTOR] South Korean defense company LIG Nex1 announced on Aug. 23 it has received Maturity Level 5 from Capability Maturity Model Integration Institute, a US ratings agency. The agency is a wholly owned subsidiary of Carnegie Melon University that administers the model developed by the school’s Software Engineering Institute upon the request of the US Department of Defense. LIG Nex1 has received Level 5 ranking, the highest level in recognition of research and development capabilities, a

Aug. 23, 2016

SK Chem releases world’s first cell culture quadrivalent flu vaccine

[THE INVESTOR] SK Chemical announced on Aug. 23 that its SKY Cell Flu Quadrivalent, the first cell culture vaccine that covers four strains of influenza viruses, is now available for vaccination in South Korea. It is the first quadrivalent that covers two influenza A strains (H1N1, H3N2) and two influenza B strains (Yamagata, Victoria) to be manufactured using aseptic culture medium instead of eggs used in the traditional method, allowing the process to be free from antibiotics. The flu vaccine

Aug. 23, 2016

SK Chem releases world’s first cell culture quadrivalent flu vaccine

Imported beers push over Korea's homegrown rivals

[THE INVESTOR] A sweltering heat wave has stifled South Korea this summer, but that has not helped the country’s domestic beer industry. The second-quarter beer sales of Hite Jinro, one of the leading South Korean distillers, fell 8.6 percent on-year, dragging down total sales to 200.6 billion won (US$179.3 million), according to Samsung Securities. The operating profit came in at 27.6 billion won, down 1.7 percent from the same period last year, well below market expectations. The company remai

Aug. 23, 2016

Imported beers push over Korea's homegrown rivals

CJ takes over US bio venture Metabolix’s assets for US$10m

[THE INVESTOR] CJ CheilJedang announced Aug. 23 that it has turned in a binding letter of intent with Metabolix for the sale of the US bio venture company’s biopolymer intellectual property and laboratory equipment for US$10 million. Under the agreement to be fully implemented by mid-September, CJ will secure a research and development lab in Boston, Massachusetts, further bolstering its competitiveness in the environmentally friendly bio industry. The South Korean conglomerate will focus on PHA

Aug. 23, 2016

CJ takes over US bio venture Metabolix’s assets for US$10m

Samsung C&T to guarantee W785b debt of Saudi affiliate and 8 others

[DISCLOSURE] Samsung C&T (028260) announced on Aug. 22 that it will guarantee a 785.21 billion won (US$697.96 million) debt of its affiliate SW Development. This amounts to 7.7 percent of its equity capital. (theinvestor@heraldcorp.com)

Aug. 22, 2016

DI to guarantee W9b debt of affiliate SW Development

[DISCLOSURE] DI (003160) announced on Aug. 22 that it will guarantee an 8.89 billion won (US$7.90 million) debt of its affiliate SW Development. This amounts to 7.7 percent of its equity capital. (theinvestor@heraldcorp.com)

Aug. 22, 2016

JW Pharma to issue RCPS worth W112b

[DISCLOSURE] JW Pharmaceutical (001060) announced on Aug. 22 that it will issue redeemable convertible preferred stock worth 111.9 billion won (US$99.47 million) and offer to its largest stakeholder JW Holdings and four others, to raise capital. JW Holdings will acquire stocks worth 68.9 billion won and increase its stake to 43.88 percent from 41.25 percent. (theinvestor@heraldcorp.com)

Aug. 22, 2016

CHA Biotech’s Alzheimer’s treatment to proceed to phase 1, 2A

[THE INVESTOR] CHA Biotech announced Aug. 22 that its CB-AC-02, an Alzheimer’s disease treatment based on stem cells, will initiate phase 1 and phase 2A of clinical trials simultaneously.Made of placenta-derived mesenchymal stem cells, the intravenous injection will be tested for safety and efficacy. When commercialized, it can be cryopreserved and supplied off the shelf, decreasing cost compared to existing treatments cultured to order, according to the company. The drug candidate has been foun

Aug. 22, 2016

Science ministry to create W40b fund for VR, AR

[THE INVESTOR] A 40 billion won (US$35.6 million) fund specializing in virtual and augmented reality technologies is to be set up, the Ministry of Science, ICT and Future Planning announced Aug. 21.The fund is part of the South Korean government’s nine science and technology projects, and the government will underwrite 60 percent of the fund. Half of the fund will be invested this year and the other half next year. Journalists wear Samsung Electronics' Galaxy VR headset at the Galaxy S7 launch e

Aug. 22, 2016

Science ministry to create W40b fund for VR, AR

Secuve obtains patent related to authentication administration system

[DISCLOSURE] Information security solution provider Secuve (131090) announced on Aug. 22 that it has obtained a patent related to an additional authentication administration system and method using an exclusive run-time module. (theinvestor@heraldcorp.com)

Aug. 22, 2016

Samsung security arm readies Mongolian capital’s new airport

[THE INVESTOR] Samsung’s security solutions division S1 is making inroads in Mongolia, building a total security system at the capital’s new airport, it announced Aug. 22.The company won the order in 2013 and is establishing a system that includes CCTV, immigration control and X-ray scanners at the Ulaanbaatar airport slated to open in 2018. S1 is looking to expand into overseas markets, especially in China, and expects the Mongolian project to pave the way. Its Chinese affiliate posted 1.2 bill

Aug. 22, 2016

Boditech Med’s influenza tester approved by Japanese health ministry

[THE INVESTOR] Boditech Med announced Aug. 22 that it has received approval from the Japanese Ministry of Health, Labor and Welfare to sell its tester able to detect both A and B type influenza viruses. More than 100 times more sensitive in diagnosis than existing testers, it takes three to 10 minutes to show results, down from 10 to 15 minutes, according to the company. Boditech Med's tester able to detect both A and B type influenza viruses. Boditech MedFollowing approval, the testers will go

Aug. 22, 2016

Boditech Med’s influenza tester approved by Japanese health ministry

Kwanghee Reit invests W5b in securities

[DISCLOSURE] Kwanghee Reit (140910) announced Aug. 22 that it has acquired private real estate investment trust securities worth 5 billion won (US$4.45 billion) from Koramco.This amounts to 8.4 percent of its equity capital. By Park Yuna (yunapark@heraldcorp.com)

Aug. 22, 2016

E-mart launches own brand in China

[THE INVESTOR] E-mart announced Aug. 22 that it has signed an agreement with Metro China to supply its private label items worth US$15,000. The largest discount seller in South Korea will introduce four items from its No Brand range, a no-frills lineup of its own, to be sold from September. This is the first time E-mart is exporting the range to an overseas offline store, not at E-mart branches, and the retail giant expects to be the stepping stone to diversify the distribution channels. E-mart’

Aug. 22, 2016

Posco Daewoo's H1 profit from Myanmar gas fields down 25.8% to W264b

[DISCLOSURE] Posco Daewoo (047050) announced on Aug. 19 that its profit in the first half of this year from the offshore gas fields A-1 and A-3 have decreased 25.8 percent from the previous half to 264.8 billion won (US$238.80 million). It also announced that it has reached 500 million cubic feet daily gas production target since December 2014. Its profit, however, decreased due to the drop in oil price, and usual low demand in gas in the second quarter, and spending in maintenance. By Hwang You

Aug. 19, 2016

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