[THE INVESTOR] Korea Land & Housing Corporation won a 4 trillion won (US$3.66 billion) project to build the first smart city in Kuwait on Aug. 5, it announced Aug. 16. KLHC will construct a new smart and environmentally friendly city named South Saad Al-Albullah spread over a site of 59 square kilometers to accommodate up to 40,000 housing units.  KLHC holds a presentation on the Kuwait smart city project. The Investor / Lee Sang-subLocated 30 kilometers west of the capital, it will combine info

Aug. 16, 2016

[THE INVESTOR] SK Telecom and Verizon Wireless have signed a memorandum of understanding to collaborate on fifth-generation technologies, the South Korean telecom operator announced on Aug. 15.At a signing ceremony held in Seoul on Aug. 8, the leading operators in South Korea and the US formed a partnership for global standardization of 5G technical specifications and joint research on the 5G network, a subject they have discussed since last year. The two firms will also share technology develop

Aug. 16, 2016

[THE INVESTOR] South Korea’s VIP Research & Investment has garnered an additional US$100 million from Government Pension Fund Global of Norway, according to the investment industry on Aug. 16. The Norwegian sovereign wealth fund, one of the largest in the world with estimated assets of 860 trillion won (US$787 billion), chose the firm to manage US$300 million last year.Established in 2003 by co-founders JC Choi and Peter Kim, who met in a Seoul National University stock investment club in 2001,

Aug. 16, 2016

[THE INVESTOR] Samsung C&T has inked a deal to build a biomass power station in the UK, it announced Aug. 15. It joined Spanish general contractor Tecnicas Reunidas and won the turnkey contract worth 650 million pounds (US$838 million) for Tees Renewable Energy Plant to build a heat and power biomass plant at Tees Dock near Middlesbrough, England. Samsung’s stake is about 27 percent, amounting to 175.5 million pounds. Developed by the UK’s MGT Power and funded by Macquarie and Danish pension fun

Aug. 16, 2016

[THE INVESTOR] Veolia Water Solutions & Technologies Korea has joined the bidding for Suwan Energy, a heat and power plant operator in Gwangju, South Jeolla Province, according to the industry on Aug. 15.Veolia Korea, the Korean branch of the leading water services supplier based in France, has turned in a letter of intent to the Seoul Central District Court to take over the community energy provider.Suwan Energy provides heating and cooling to 40,000 households in Gwangju’s Suwan district, and

Aug. 16, 2016

[THE INVESTOR]  Korean Reinsurance Company, the only reinsurance company in South Korea, reported Aug. 16 that its 3,810,876 shares (3.17 percent stake) owned by chairman Won Hyuk-hee have been inherited evenly between his two daughters, Jong-in and Gye-young. Won Jong-in now owns 2,680,547 shares (2.23 percent stake) and Won Gye-young holds 2,537,016 shares (2.11 percent stake). Chairman Won passed away at 89 years old in March. As the largest shareholder of Korean Re since 1998, he helped it g

Aug. 16, 2016

[THE INVESTOR] K-Growth Investment, an independent fund of funds management company, announced on Aug. 12 that it has selected IMM Investment and Industrial Bank of Korea’s LX Investment Consortium to manage its tech credit bureau investment fund. It is the first specialized fund since the tech credit bureau evaluation system was introduced. IMM Investment will manage 70 billion won (US$63.54 million), 15 billion won of which will be financed by Growth Ladder Fund, managed by K-Growth. Industria

Aug. 12, 2016