[THE INVESTOR] Korea Investment Securities have joined hands with South Korean institutional investors to take over International Business Campus building in Frankfurt, Germany, according to Maeil Business Newspaper on Oct. 18. It is currently in talks with local investment and asset management company German Estate Group for acquisition of the 500 billion won (US$441.62 million) office complex. About 200 billion will be funded by investors and the rest will be financed by loans from local finan

Oct. 18, 2016

[THE INVESTOR] Hanwha Life Insurance has acquired 4.1 percent stake in Lending Club, a US peer-to-peer lending company for 75 billion won (US$66.24 million), it reported on Oct. 17.As the largest company in the business, Lending Club has disbursed US$20.6 billion loans by June 2016, and its total market value, once as high as 10 trillion won following its IPO in 2014, is currently 2.4 trillion won. The insurance arm of Hanwha Group has a strategic partnership with Lending Club and “thought that

Oct. 18, 2016

[THE INVESTOR] Hanwha Group announced on Oct. 17 that it will reorganize its four defense affiliates to strengthen competitiveness and improve efficiency by 2017. Hanwha will take over the navigation and laser weapon businesses from Hanwha Defense and Hanwha System, respectively, and combine them with its guided weapon ammunition to grow into a precision strike system specialist.The company expects the laser weapons business to create synergy with Hanwha System’s surveillance and tracking device

Oct. 17, 2016

[THE INVESTOR] Nature Republic’s founder and largest stakeholder Jung Woon-ho is reviewing selling his entire 73.88 percent stake (5,605,920 shares), according to Money Today on Oct. 17. The acquisition offer is led by Jeong Geun-cheol, an outside director appointed in July, and several candidates have been contacted for a private deal. The most likely contender would come from China, experts say, as despite the mess caused by the former founding CEO’s bribery scandal, the affordable cosmetics c

Oct. 17, 2016

[THE INVESTOR] Doosan GridTech announced on Oct. 17 that it has signed a US$6 million agreement to supply energy storage system to US public power utility Austin Energy. This is the first major order for the energy storage software company, formerly 1Energy Systems, that has been acquired by Doosan Heavy Industries & Construction in July. Doosan GridTech will provide 3 megawatt-hour storage systems for two solar-generated electric power stations in Austin, Texas, to provide stability and raise e

Oct. 17, 2016

[THE INVESTOR] CJ E&M announced on Oct. 17 that it has acquired Vietnamese contents creator and advertising agency Blue Group and has established a joint venture with Thai media enterprise True Visions. The entertainment and media arm of CJ Group is expanding overseas and has chosen the two Southeast Asian countries as strongpoints. Blue Group is a leader in the local market with 80 billion won (US$70.16 million) annual revenue, and this is the first time a foreign company has taken over a local

Oct. 17, 2016

[THE INVESTOR] Korea Electric Power Corp.’s operating profit in the third quarter will reach its highest ever, according to Samsung Securities on Oct. 17.Its sales in the third quarter will stand at 15.47 trillion won (US$13.57 billion) but its operating profit should rise 7 percent to 4.64 trillion won on-year, estimated Yang Ji-hye, an analyst at Samsung.“Given that KOGAS’ sales of liquefied natural gas rose 12.5 percent in the third quarter on-year, that of KEPCO’s electricity must have incre

Oct. 17, 2016

[THE INVESTOR] Hite Jinro’s third quarter operating profit will not be able to meet market consensus, weakening the expectations for dividends that have been bolstering the stock price, according to Samsung Securities on Oct. 14. The securities firm maintained a “buy” recommendation but lowered the target price to 27,000 won (US$23.85). Hite JinroThe liquor giant’s operating profit in the third quarter will fall 15 percent to 40.9 billion won, and revenue will slip 0.5 percent to 504.4 billion w

Oct. 14, 2016

[THE INVESTOR] Goldman Sachs consortium and Daesung Group Partners will put the entire 100 percent stake of Daesung Industrial Gases on sale at the end of this month, according to new reports on Oct. 14.Goldman Sachs consortium is the largest stakeholder of the gas company, having purchased 68 percent stake from Daesung Group Partners for US$400 million in 2014 as part of the company’s restructuring. Kim Young-tae, CEO of Daesung, gave up on his call option to buy back the gas company stake rece

Oct. 14, 2016