[THE INVESTOR] Miwon Chemicals reported on Oct. 14 that its operating profit in the third quarter on consolidated basis rose 13.4 percent to 4.56 billion won (US$4.03 million) from the same period last year. Sales dropped 6.8 percent to 34.49 billion won on-year.The chemical company has been at the center of a recent controversy for providing a toxic substance used in toothpastes and personal care products that was also used in deadly humidifier disinfectants. It reportedly distributed over 3,00

Oct. 14, 2016

[THE INVESTOR]  AmorePacific’s revenue from China will increase dramatically following the government’s decision to reduce consumption tax, according to LIG Investment and Securities on Oct. 14.“Following the Chinese government’s decision to cut the consumption tax by half to 15 percent, duty-free sales will decrease gradually but local turnover will surge,” said Kang Su-min, an analyst at LIG. The South Korean beauty giant’s operating profit in the third quarter will jump to 218.7 billion won (

Oct. 14, 2016

[THE INVESTOR] Doosan Heavy Industries & construction announced on Oct. 14 that it has signed a US$850 million contract with Redondo Peninsula Energy, a civil power generation company in Philippines, to build a thermal power plant.The Subic Redondo coal-fired power plant, located 130 kilometers northwest of Manila, will have two units, and the first will be completed by December 2020. This is the first time a 300-megawatt boiler with circulating fluidized bed technology is being applied in the S

Oct. 14, 2016

[THE INVESTOR]  Hotel Lotte has submitted a bid to acquire Neul Proon Medical Foundation along with three other strategic investors, the retail giant announced on Oct. 14.Hotel Lotte will compete with three bidders including Korea Yakult. This effectively signals the normalization of its operations after Lotte Group Chairman Shin Dong-bin dodged arrest two weeks ago.“Utilizing the residential care facilities for the elderly and rehabilitation medical facilities for children, we can expand our so

Oct. 14, 2016

[THE INVESTOR] Kolmar Korea reported on Oct. 13 that its subsidiary Seokoh has participated in the capital increase of US cosmetics original development manufacturer Process Technologies and Packaging, and has acquired 51 percent stake (8,079,336 shares) for 17.19 billion won (US$15.25 million). Seokoh is a special purpose corporation in the US established to take over a local company. In September, the South Korea-based cosmetics OEM/ODM giant has partnered with Wormser, the largest cosmetics s

Oct. 13, 2016

[THE INVESTOR] The court has decided to put out a public notice for sale of Hanjin Shipping’s America-Asia routes on Oct. 14 at the earliest, according to news reports on Oct. 13.The ailing shipping company currently under rehabilitation process has turned in an application seeking the court’s approval for merger. The court granted permission and chose Samil PricewaterhouseCoopers as the sales manager. Hanjin’s America-Asia routes operation including personnel, operation system, five containers,

Oct. 13, 2016

[THE INVESTOR] Green Cross announced on Oct. 13 that it will suspend clinical trials of GreenGene F, a treatment for A-type hemophilia, in the US and will focus on China. The suspension is due to the difficulty in recruiting participants with the rare bleeding disorder in which the blood does not clot normally. “We expected the clinical trials in the US to take two to three years, but as it is a rare disease, the recruitment overextended the trial timetable,” said an official. The clinical trial

Oct. 13, 2016

[THE INVESTOR] Kumho Industrial announced on Oct. 12 that it will invest 50 billion won (US$44.37 million) in its affiliate Asiana Airlines to strengthen control. The parent company of Kumho Asiana Group will participate in the airline’s capital increase and will acquire 10 million newly issued shares at 5,000 won apiece. The due date is Nov. 7. After the acquisition, its stake will increase to 33.49 percent from 30.08 percent. Asiana Airlines, the country’s second largest full service carrier,

Oct. 13, 2016

[THE INVESTOR] Celltrion announced on Oct. 12 that its influenza antibody CT-P27 has been approved by the Ministry of Food and Drug Safety to initiate the 2b phase of clinical trials. The novel therapeutic agent for treatment against universal influenza binds to the stem region of hemagglutinin, the major viral surface protein, and inhibits the entry of influenza virus into host cells. In the previous clinical trials carried out in the UK, it was found to greatly reduce concentration of viruses

Oct. 12, 2016

[THE INVESTOR] Nexon announced on Oct. 12 that it has acquired 49 percent stake in iDCC, a Thai game publisher, and became it largest stakeholder. Nexon will take over the remaining stake upon government approval. Established in 2010, iDCC services online games including a role-playing game “12 Tails Online”. South Korea’s largest online game developer is seeking more business opportunities in Southeast Asia where the growth potential is huge, starting with Thailand which accounts for over 20 pe

Oct. 12, 2016

[THE INVESTOR] Ahngook Pharmaceutical announced on Oct. 12 that it has signed an agreement with multinational pharmaceutical company Menarini for sales rights of its cough syrup Synatura in seven Central American countries. The Italy-based company will have sales and marketing rights of the cough and mucus reducer in Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Belize. The contract amount remains undisclosed. Synatura Syrup was introduced in 2011 by the South Korean firm.B

Oct. 12, 2016