The Korea Herald

ChemChina eyes Kumho Tire

[THE INVESTOR] State-owned ChemChina has signed a non-disclosure agreement with Kumho Tire’s creditors last month and is reviewing acquisition of South Korea’s second largest tire maker, according to Maeil Business Newspaper on Oct. 9. Park Sam-gu, chairman of Kumho Asiana Group, has the right of first refusal and is preparing to buy Kumho Tire back as he confirmed on Oct. 10. The Chinese chemical firm’s bid, however, poses a serious threat to Park’s grand plan to restore his group, experts say.

Oct. 10, 2016

Siemens to build smart factory with Hyundai Wia

[THE INVESTOR] Siemens announced on Oct. 10 it will join hands with Hyundai Wia, an auto parts manufacturing affiliate of Hyundai Motor Group, to build a smart factory in Ansan, Gyeonggi Province.Siemens smart factory systemsThe factory will incorporate information and communications technology into the whole process from planning, design and manufacturing to distribution, enabling production of multiple items in small batches with significantly higher productivity. The German company operates A

Oct. 10, 2016

Siemens to build smart factory with Hyundai Wia

Mirae Asset PE likely to earn W500b profits after Acushnet IPO

[THE INVESTOR] Mirae Asset Private Equity is expected to earn more than 500 billion won (US$448 million) after the planned initial public offering of Acushnet, the world‘s largest golf equipment and apparel company whose key brands include market No. 1 Titleist, in New York later this month. 　The private equity affiliate of Mirae Asset Global Investment acquired Acushnet for US$1.23 billion back in 2011 together with local retail giant Fila Korea. The firm alone invested US$525 million, the larg

Oct. 7, 2016

More patients died from Hanmi Pharma cancer drug’s side effects: report

[THE INVESTOR] At least three patients died from side effects of Hanmi Pharmaceutical’s cancer treatment Olita Tab during the clinical trials, according to a Ministry of Food and Drug Safety report released by Rep. Kwon Mi-hyuk on Oct. 7.A 75-year-old patient died in December 2015 during the second phase of the trials, while a 57-year-old and 54-year-old patient died in March and June, respectively, during the second phase of global trials, the data showed.A total of 29 “serious adverse events a

Oct. 7, 2016

More patients died from Hanmi Pharma cancer drug’s side effects: report

[EQUITIES] ‘LG Hausys’ Q3 performance to worsen’

[THE INVESTOR] South Korea’s largest construction material supplier LG Hausys will suffer from the underperformance of materials business in the third quarter, according to Hana Financial Investment on Oct. 7.The securities firm lowered the target price to 140,000 won (US$125.34) from 194,000 won, saying that its operating profit in the third quarter will fall 11.1 percent to 40.8 billion won on-year, and sales will slip to 717.4 billion won. “Materials division, in particular, will see a sharp

Oct. 7, 2016

Biogen of US might reap W2tr from Samsung Bioepis call option

[THE INVESTOR] US biopharmaceutical company Biogen has gained about 1.85 trillion won (US$1.66 billion) on valuation of its call option from its contract with Samsung, according to the Korea Economic Daily on Oct. 6.This follows the hike in the value of Samsung Bioepis, which was established in 2012 as a joint venture between Samsung Biologics and Biogen. Biogen invested 49.5 billion won for 15 percent stake, with a call option that can secure up to 49.9 percent stake by the end of 2018.Samsung

Oct. 7, 2016

Biogen of US might reap W2tr from Samsung Bioepis call option

KB Asset Management to invest US$200m in US power plant

[THE INVESTOR] KB Asset Management will invest US$200 million in a US gas and steam power generation plant at Marcus Hook Energy Center in Pennsylvania, according to Maeil Business Newspaper on Oct. 6.KB has created a fund from homegrown institutional investors and will lend it to Starwood Energy Group Global that is taking out loans worth US$520 million to acquire the US$760 million power plant. The 790 megawatt combined cycle power generation plant has 90 percent operation rate.The investment

Oct. 7, 2016

KB Asset Management to invest US$200m in US power plant

POSCO establishes 4th steel processing center in India

[THE INVESTOR] POSCO announced on Oct. 6 that its India Ahmedabad Processing Center has been completed. It is the fourth steep processing center in the south Asian country, demonstrating the South Korean steelmaker’s determination to target the rising hub of auto manufacturing. The center can produce 120,000 tons of cold rolled steel a year, and also offers shearing, sleeting, and blanking as well as storage and logistics service. It will focus on supplying commercial steel for global carmakers

Oct. 6, 2016

POSCO establishes 4th steel processing center in India

Lutronic’s eye treatment laser device granted USFDA approval

[THE INVESTOR] Lutronic announced on Oct. 6 that its laser device R:GEN has been approved by the US Food and Drug Administration to treat macular edema, that causes thickening and swelling of the yellow central area of the retina. It is the first laser therapy to treat the eye disease, and the first time a South Korean ophthalmic medical instrument has been approved in the US, according to the manufacturer.R:GEN can selectively treat retinal pigment epithelium, or the pigmented cell layer of ret

Oct. 6, 2016

Celltrion picks TEVA as biosimilar distributor in N. America

[THE INVESTOR] Celltrion Healthcare announced on Oct. 6 that it has chosen TEVA as a distributor for biosimilars Truxima and Herzuma in the US and Canada.The multinational pharmaceutical company based in Israel will pay US$160 million upfront and will split the profit from commercializing the two biosimilars developed by Celltrion.Truxima’s reference drug is rheumatoid arthritis and non-Hodgkin’s lymphoma treatment Rituxan, and Herzuma’s is breast cancer treatment Herceptin. Both are blockbuster

Oct. 6, 2016

Celltrion picks TEVA as biosimilar distributor in N. America

SKC completes CMP pad factory

[THE INVESTOR] SKC celebrated the completion of its chemical mechanical polishing pad factory in Gyeonggi Province with a ceremony on Oct. 6.It has invested 20 billion won (US$17.97 million) in the factory that can manufacture about 50,000 units of CMP pad, a polyurethane product used to smooth surfaces of semiconductor wafers. CMP pads are high value-added products whose market is dominated by US companies. SKC jumped in the business last year acquiring the patent and business rights from Dongs

Oct. 6, 2016

[EQUITIES] ‘Paradise’s casino-resort biz to see sustained growth’

[THE INVESTOR] Although the third-quarter performance of Paradise Group will be below expectations, its casino and resort business will continue to grow in the mid- to long-term, according to Korea Investment and Securities on Oct. 6.The securities firm maintained its “buy” recommendation and 20,000 won (US$17.97) target price for the company, saying that its revenue in the third quarter would reach 176.4 billion won, up 23.5 percent on-year, with operating profit of 15.8 billion won, up 38.3 pe

Oct. 6, 2016

Hanwha Techwin to issue corporate bonds worth W100b

[THE INVESTOR] Hanwha Techwin will issue corporate bonds worth 100 billion won (US$89.86 million) this month with three-year maturity, according to the Korea Economic Daily on Oct. 5. The defense arm of Hanwha Group has issued 220 billion won worth corporate bonds since June. And the additional funds will finance acquisition of 50 percent stake in its defense affiliate Hanwha Thales from Thales International for 288 billion won, to turn the company into a wholly owned subsidiary. KB Investment a

Oct. 6, 2016

Schroders Investment owns over 5% stake in CJ CGV

[DISCLOSURE] London-based Schroders Investment Management reported on Oct. 6 that it owns 5.13 percent stake in CJ CGV (079160), along with two individuals with special relationship. It has no intention to participate in management, it added. (theinvestor@heraldcorp.com)

Oct. 6, 2016

Meritz acquires Deutsche Telekom HQ for W264b

[THE INVESTOR] Meritz Securities has signed a contract to purchase Deutsche Telekom’s headquarters in Bonn for 213.4 million euros (US$237.24 million) on Sept. 30, according to news reports on Oct. 6. The South Korean securities firm will jointly invest 112 billion won with other local partners including Kiwoom Securities and sell part of the stake to South Korean insurance companies and pensions. The remaining 152 billion won will be funded by a loan from a German bank, at an interest rate slig

Oct. 6, 2016

Meritz acquires Deutsche Telekom HQ for W264b

Articles by Hwang You-mee