[THE INVESTOR] IGIS Asset Management will sign a memorandum of understanding as the preferred bidder to take over Pacific Tower in Seoul from Deutsche Asset Management on Sept. 9, beating Mirae Asset Global Investments and Ascendas, according to news reports on Sept. 8.Located in central Seoul next to the Korea Chamber of Commerce and Industry, the 23-story high office building fetched 430 billion won (US$391.44 million) and the asset management company will deliver 240 billion won by taking out

Sept. 9, 2016

[THE INVESTOR] Korean Air and Delta Airlines are strengthening their code-sharing agreement, increasing the routes to 159 from the current 32, the South Korean airline announced on Sept. 7.Starting from November, the largest commercial carriers in South Korean and the US will offer joint schedules including 142 destinations in the US and Canada as well as 33 destinations in Asia. Delta will start operating daily nonstop flight between Incheon and Atlanta from June 2017. In addition, they will la

Sept. 8, 2016

[THE INVESTOR] Celltrion has completed phase 1 of clinical trials in the US for Herzuma, its biosimilar replication of Herceptin, according to news reports on Sept. 8. Celltrion’s Herzuma, a breast cancer treatment, was approved by the Ministry of Food and Drug Safety in January 2014 and has finished international clinical trials, based on which it will file for European Medicines Agency’s endorsement within this year. To launch the biosimilar of Herceptin, the sixth most prescribed medicine in

Sept. 8, 2016

[THE INVESTOR] Komipharm, a veterinary pharmaceutical company, announced on Sept. 7 that its PAX-1, trade name Kominox, has been granted permission for sale in Australia, in response to Korea Exchange’s inquiry regarding the company’s stock price surge. Kominox is a nonopioid painkiller that also fights cancer and Australian Therapeutic Goods Administration has approved use of the medicine to treat progressive cancer patients with chronic pains through all stages, the company added.By Hwang You-

Sept. 8, 2016

[THE INVESTOR] Medical Korea & K-Hospital Fair 2016, the largest international health care fair in Asia, will be held at Coex in Seoul, Oct. 20-22.This year’s event has combined Medical Korea Conference and K-Hospital Fair and will be held under the theme “The future of global health care: innovation, convergence and creation.” Promotional poster for Medical Korea & K-Hospial Fair 2016. KHIDIAbout 15,000 participants including public health care officials and medical facilities and specialists w

Sept. 8, 2016

[THE INVESTOR] E-mart will sign a memorandum of understanding with the Vietnamese city of Ho Chi Minh to invest US$200 million, it announced on Sept. 8.Under a strategic partnership with the largest city in Vietnam, to be signed on Sept. 9, the South Korean retail giant will invest in commercial facilities including hypermarkets and supermarkets by 2020.The hypermarket chain will further expand contribution to the development of the city where it has opened the first E-mart outlet in the Southea

Sept. 8, 2016

[THE INVESTOR]  Ministry of Defense and Korea Land & Housing are finalizing their negotiations over former United Nations Command’s site in Yongsan, Seoul, according to the Herald Business on Sept. 7. After five months of negotiation they have reached an agreement on the evaluation amount of the prime real estate, estimated to be over 800 billion won (US$731.60 million). The state-owned real estate firm will put up the site for sale this year for a private company to develop the site that has be

Sept. 7, 2016