The Korea Herald

Samsung Life Insurance's Q2 operating profit up 13.8% to W437b

[DISCLOSURE] Samsung Life Insurance (032830) reported on Aug. 11 that its operating profit in the second quarter increased 13.8 percent to 436.5 billion won (US$397.90 million) from the same period last year. Its sales increased 6.2 percent to 7.32 trillion won while net profit fell 20.4 percent to 352.6 billion won on-year.

Aug. 11, 2016

Petrochem, solar boost Hanwha Chemical’s Q2 profit

[THE INVESTOR] Hanwha Chemical reported on Aug. 11 that its operating profit in the second quarter increased 213.16 percent from the same period last year to 293.56 billion won (US$267.60 million), its highest quarterly figure. Its sales increased 19.1 percent to 2.39 trillion won and net profit surged 835.1 percent to 310.16 billion won on-year. Its petrochemicals and solar businesses backed the chemical arm of Hanwha Group’s strong performance. In petrochemicals, low oil prices led to lower pr

Aug. 11, 2016

Petrochem, solar boost Hanwha Chemical’s Q2 profit

It’s Skin sets up shop in Shanghai’s largest duty-free store

[THE INVESTOR] South Korean cosmetics brand It’s Skin has opened a store within a downtown duty-free store in Shanghai operated by China National Service Corporation, it announced on Aug. 11.Located in Jing’an, one of Shanghai’s busiest commercial districts, the urban duty-free outlet is CNSC’s flagship store in Shanghai, taking up 3300 square meters. It’s Skin has joined the store’s Korea Beauty Zone and will sell over 30 items including its snail cream. It has already opened stores in two Arca

Aug. 11, 2016

STX seeks to sell French affiliate after 2 failed attempts

[THE INVESTOR] STX Offshore & Shipbuilding is seeking to sell off STX France. The company, currently under court receivership, turned in a plan to sell its French affiliate on Aug. 9 and was granted permission. STX is seeking to select a lead financial advisor for the sale by the end of this month and complete the sale within this year. This is the third time STX is trying to sell STX France which it took over in 2009. STX Offshore & Shipbuilding has a two-third stake through its subsidiary STX

Aug. 11, 2016

STX seeks to sell French affiliate after 2 failed attempts

POSCO branches out into titanium alloy biz

[THE INVESTOR] South Korea’s largest steelmaker POSCO has signed a memorandum of agreement with North Gyeongsang Province on Aug. 11 to expand into titanium alloy business.POSCO already manufactures pure titanium products but will further the scope to include titanium alloy, a high added-value material lighter than steel and more durable than aluminum alloy. Mainly used for airplanes and satellites, the world’s demand for the material last year was estimated to be as much as 80,000 tons. POSCO h

Aug. 11, 2016

POSCO branches out into titanium alloy biz

Hanwha Chemical's Q2 operating profit increases 213.16% to W294b

[DISCLOSURE] Hanwha Chemical (009830) reported on Aug. 11 that its operating profit in the second quarter increased 213.16 percent to 293.56 billion won (US$267.60 million) from the same period last year. Its sales increased 19.1 percent to 2.39 trillion won and net profit surged 835.1 percent to 310.16 billion won on-year.

Aug. 11, 2016

Samsung C&T to guarantee W845b debt of its subsidiary

[DISCLOSURE] Samsung C&T (028260) announced on Aug. 11 that it will guarantee 845.14 billion won (US$777.41 million) debt of its subsidiary Samsung C&T ECUK. This amounts to 4.61 percent of its equity capital.

Aug. 11, 2016

SK Chemical to release first cell culture quadrivalent flu vaccine

[THE INVESTOR] SK Chemical is releasing a flu vaccine, the first cell culture vaccine that covers four strains of influenza viruses, next month. A total of 5 million units have been manufactured, it announced on Aug. 10. Dubbed SKY Cell Flu Quadrivalent, “it is a next generation vaccine that can prevent four kinds of viruses with a single vaccination,” the company said.SK Chemical's vaccine production line. SK chemical[Multinational firm Glaxo Smith Kline already sells its own quadrivalent, that

Aug. 11, 2016

SK Chemical to release first cell culture quadrivalent flu vaccine

KOGAS turns to red in Q2

[THE INVESTOR] Korea Gas (036460) reported on Aug. 10 that its operating loss in the second quarter came in at 6.4 billion won (US$5.90 million). Revenue declined 28.81 percent to 3.54 trillion won and net loss ballooned 162.86 percent to 106.3 billion won from the same period last year.The public corporation explained that “fall in the oil price led to a decrease in the net profit” adding that “the debt-equity ratio declined from last year’s 321.5 percent to 294 percent in the first half.” Kore

Aug. 10, 2016

Medipost obtains US patent for nerve injury treatment

[THE INVESTOR] Medipost announced on Aug. 10 that it has obtained a US patent for administering mesenchymal stem cells derived from umbilical cord blood to treat nerve injuries. “This patented method can be applied to treat hypoxic-ischemic brain injury strokes, Alzheimer’s, Pick’s, Huntington’s and Lou Gehrig’s diseases, and traumatic central nervous system disorders,” according to the biotechnology company. This is the 13th patent Medipost obtained this year, the highest number among South Kor

Aug. 10, 2016

Medipost obtains US patent for nerve injury treatment

E-mart's Q2 operating profit down 28.5% to W47b

[DISCLOSURE] E-mart (139480) reported on Aug. 10 that its operating profit in the second quarter decreased 28.5 percent to 47 billion won (US$42.99 million) from the same period last year. Sales rose 6.8 percent to 3.45 trillion won while net profit fell 95.6 percent to 12.19 billion won on-year.

Aug. 10, 2016

Kolon Industry's Q2 operating profit up 1.4% to W77b

[DISCLOSURE] Kolon Industry (120110) reported on Aug. 10 that its second quarter operating profit increased 1.4 percent to 77.48 billion won (US$70.86 million) from the same period last year. Sales fell 8.1 percent to 1.13 trillion won while net profit hiked 93.6 percent to 64.27 billion won on-year.

Aug. 10, 2016

[EQUITIES] IS Dongseo to continue upturn from Q3

[THE INVESTOR] IS Dongseo will continue to post improved earnings from the third quarter due to the strong performance of its construction division, Eugene Investment said maintaining a “strong buy” rating on Aug. 10.“IS Dongseo recorded an earnings surprise as its operating profit in the second quarter surged 173.8 percent on-year to 86.1 billion won (US$78.75 million) and revenue hiked 82.5 percent to 452.3 billion won,” said Lee Sang-woo, an analyst at Eugene Investment. “It will have no prob

Aug. 10, 2016

[EQUITIES] NH Investment positive on Celltrion

[THE INVESTOR] NH Investment & Securities maintained a “buy” rating for Celltrion on Aug. 10, saying that the biopharma firm has met expectations in its second-quarter performance. The company reported on Aug. 9 that its operating profit decreased 5.7 percent to 75.2 billion won (US$68.78 million) and sales increased 7.4 percent to 159.9 billion won from the same period last year. “The revenue has grown as prescriptions for (its first antibody biosimilar) Remsima increased in Europe while the op

Aug. 10, 2016

Daelim Energy to finance US$100m wind power project in Pakistan

[THE INVESTOR] Daelim Energy has signed an agreement with Overseas Private Investment Corporation, the US government’s development finance institution, to finance US$100 million for Hawa Energy power project in Pakistan, the company announced on Aug. 10.Daelim Energy in a power and resources affiliate of South Korea's leading conglomerate Daelim Group. The power project will develop and operate a 50-megawatt wind power facility in southwestern Pakistan and the total amount will be US$130 mill

Aug. 10, 2016

Daelim Energy to finance US$100m wind power project in Pakistan

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