[THE INVESTOR] SK Telecom announced on Sept. 27 that its venture affiliate Cremotech has signed a US$10 million contract with US distribution company KDC to supply stick-type smart beam laser projectors.Since 2013, the country’s largest wireless telecommunications company has supported the startup making 2.58 billion won (US$2.32 million) equity investment and providing nine patented technologies for free.They jointly succeeded in developing the world’s first handheld projector based on laser as

Sept. 27, 2016

[THE INVESTOR] Ahngook Pharm has signed an agreement to adopt Y Biogologics’ immune checkpoint inhibitor, it announced on Sept. 27.The pharmaceutical company will run non-clinical and clinical trials on the antibody that restores or enhances the immune system’s ability to fight cancer. The treatment has been reported to have less side effects than first generation chemical therapy that attacks normal tissues and to be more effective than the second generation targeted therapy that kills or deter

Sept. 27, 2016

[DISCLOSURE] Doosan Heavy Industries (034020) denied media reports that it plans to sell its stake in Doosan Engine (082740), in a statement released on Sept. 26 in response to Korea Exchange’s inquiry. (theinvestor@heraldcorp.com)

Sept. 27, 2016

[THE INVESTOR] KT and its digital media representative Nasmedia announced on Sept. 26 that they will take over top search advertising firm N Search Marketing for 60 billion won (US$54.38 million).The country’s largest telecom and internet group will own 33.3 percent stake and its affiliate will own the rest. N Search Marketing is a leading online advertising agency whose clients include Google, Facebook and Naver. It split off from Naver, and since 2014 has been owned by Han & Co. With this merg

Sept. 26, 2016

[THE INVESTOR] Seegene announced on Sept. 26 that its Italian subsidiary Arrow Diagnostics has signed a five-year contract to supply sexually transmitted diseases and human papillomavirus detectors worth 7.5 million euros (US$8.43 million) to 17 state hospitals in Italy’s Toscana region. The South Korean company will provide molecular testers that can simultaneously test multiple sexually transmitted infections (AnyplexII STI-7) and multiple genotypes of human papillomavirus (AnyplexII HPV28) wi

Sept. 26, 2016

[THE INVESTOR] Two suitors have participated in the bid to acquire Suwan Energy, according to the Seoul Central District Court on Sept. 23.“Two companies have turned in letters of intent,” said a source at the bankruptcy department of the court adding that “a preferred bidder will be chosen next week.”The sale of South Jeolla Province-based heat and power plant operator will be used to pay off the 106 billion won (US$95.91 million) debt of its parent company Keangnam Enterprises which owns 70 pe

Sept. 23, 2016

[THE INVESTOR] Firstec has signed a memorandum of understanding with Israel’s UVision on Sept. 16 to develop South Korea’s first smart unmanned aerial vehicle that incorporates a guided missile. The homegrown aviation defense company will take charge of manufacturing and assembling parts and exclusively sell the short-range lethal aerial loitering system of UVision, which was the first to commercialize the weapon. “South Korea is a strategic market for us for two main reasons. First, we have ide

Sept. 23, 2016

[THE INVESTOR] Kyung Dong Navien is building a boiler and water heater factory in Beijing, it announced on Sept. 23. The boiler company is investing 13 billion won (US$11.76 million) for an automated facility that can manufacture up to 300,000 units a year by 2017, and will expand and complete the plant with a capacity for 500,000 by 2020.It was the first South Korean boiler maker to enter China in 1993. The leading energy company made 48 percent of its 512 billion won annual sales in overseas m

Sept. 23, 2016