The Korea Herald

Barunson to merge with Pollux Pictures

[DISCLOSURE] Barunson (018700) announced on Oct. 5 that it will merge and absorb movie production company Pollux Pictures to expand into the movie business as a long-term growth plan and to promote the firm’s value. (theinvestor@heraldcorp.com)

Oct. 6, 2016

KOGAS to sell 330,000 tons LNG to BP for 20 years

[THE INVESTOR] Korea Gas announced on Oct. 5 that it has signed an agreement with BP to sell annual 330,000 tons of liquefied natural gas produced at its offshore facility in Mozambique for the next 20 years. Through its subsidiary, the state-owned company owns 10 percent stake of Coral South Floating LNG Facility expected to be installed offshore the African country. The facility is operated by Eni East Africa, which owns 70 percent stake in Area 4, where 1.8 billion tons of gas was discovered

Oct. 5, 2016

KOGAS to sell 330,000 tons LNG to BP for 20 years

LOCUS attracts W25b investment from China

[THE INVESTOR] LOCUS, an animation and computer-generated imagery specialist, announced on Oct. 4 that it has signed an agreement with China’s To-Win Capital Group to attract 25 billion won (US$22.40 million) investment.This makes the Chinese investment company the third largest shareholder of the South Korean studio. Established in 2009, LOCUS boasts leading animation and computer graphics technology, and owns a number of affiliates including movie production and distribution company Sidus. By

Oct. 5, 2016

Semicon Light establishes JV with China’s HC Semitek

[THE INVESTOR] Semicon Light has signed an agreement with China’s HC Semitek to establish a joint venture to expand into the global LED market, it announced at a press conference in Seoul on Oct. 5.The South Korean LED manufacturer is a leader in LEDs with flip chip architecture that allows faster processing with less power consumption, and has joined hands with HC Semitek which owns the second-largest market share in China’s EPI wafer chip market. Semicon Light will own 51 percent stake in the

Oct. 5, 2016

KHNP wins US$530m hydro power plant contract in Pakistan

[THE INVESTOR] Korea Hydro and Nuclear Power announced on Oct. 5 that it has won a US$530 million build-operate-transfer contract from Pakistan’s Private Power and Infrastructure Board for a hydroelectric power plant in the country.KHNP has formed a consortium with Daelim Industrial and Lotte Engineering and Construction and participated in the bid for the global project announced by the government body in charge of private electricity generation in January. They will build a 350-megawatt hydro

Oct. 5, 2016

NCSoft to release ‘Lineage Red Knights’ in China

[THE INVESTOR] NCSoft announced on Oct. 5 that it has signed an agreement with China’s Alpha Group for distribution and service of its mobile game “Lineage Red Knights” in China. The contract amount is worth US$10 million.The mobile game is based on “Lineage”, a pioneering massive multiplayer online role-playing game that made NCSoft the largest South Korean game developer since it was introduced in 1998. The gaming giant will not only publish the mobile version of its flagship product but also

Oct. 5, 2016

NCSoft to release ‘Lineage Red Knights’ in China

Medipost to establish cord blood bank in Thailand

[THE INVESTOR] Medipost announced on Oct. 5 that it has signed an agreement with Thailand’s Inter Stemma to set up and help manage a cord blood bank in Bangkok.Inter Stemma is a stem cell venture newly founded by established Thai pharmaceutical companies, and with support from the South Korean bio company, will complete building the bank and start operations by early 2017.In addition to consultation fees, Medipost will receive 5-10 percent of the future revenue for passing on the technology and

Oct. 5, 2016

Medipost to establish cord blood bank in Thailand

SK terminates franchise contract with Sheraton

[THE INVESTOR] SK Networks has decided not to renew its franchise agreement with Sheraton Hotels & Resorts for its Walkerhill hotel in Seoul, according to news reports on Oct. 4. Established in 1963, SK’s Walkerhill Hotel has partnered with the global hotel chain in 1977, but after four decades, the parent company believes, the homegrown hotel is ready to stand on its own. Sheraton Walkerhill hotel in SeoulThis is seemingly against the growing tendency in South Korean hospitality industry to jo

Oct. 5, 2016

SK terminates franchise contract with Sheraton

Hyundai Merchant Marine not considering sale of oil tanker division

[DISCLOSURE] Hyundai Merchant Marine (011200) announced on Oct. 4 that it is not considering selling its oil tanker division, which it reviewed in March and April to improve the financial structure, as it has signed an autonomous agreement with creditors and completed debt restructuring.(theinvestor@heraldcorp.com)

Oct. 5, 2016

LS Networks sells entire Skechers Korea stake

[DISCLOSURE] LS Networks (000680) announced on Oct. 4 that it will sell its entire 100,000 shares of Skechers Korea to improve its financial structure. The stake is worth 29.4 billion won (US$26.34 million). (theinvestor@heraldcorp.com)

Oct. 5, 2016

Sooin Cosmetic takes over tax refund shop LIS

[THE INVESTOR] Tax refund shop operator LIS announced on Oct. 4 that Sooin Cosmetic has signed a stock transfer agreement with its largest stockholder HC Asset Management to take over 2 million shares for 20 billion won (US$18.11 million). Sooin Cosmetic is an original equipment manufacturer and original development manufacturer of cosmetics. It also has its own brand and is in charge of Chinese distribution for It’s Skin. Its revenue in 2015 reached 148.8 billion won with operating profit of 22

Oct. 4, 2016

5 conglomerates vie for downtown duty-free store license

[THE INVESTOR] Five conglomerates turned in their application for the license to operate a downtown duty-free store on Oct. 4.On the deadline set by Korea Customs Service, all the potential bidders -- Hotel Lotte, SK Networks, Shisegae DF, Hyundai Department Store and HDC Shilla Duty Free –- submitted their offers, vying for the three slots proposed for large firms. All candidates except SK Networks, whose duty-free store at Sheraton Walkerhill hotel has closed since failing to win a license la

Oct. 4, 2016

5 conglomerates vie for downtown duty-free store license

Hanbit Soft signs exclusive deal for PrecisionHawk drones

[THE INVESTOR] Hanbit Soft announced on Oct. 4 that it has signed a three-year exclusive agreement with PrecisionHawk to distribute agricultural drones in South Korea. PrecisionHawk is a leading US company that specializes in industrial drones and system, having developed DataMapper, a software that analyzes data collected by drones, and LATAS, a flight control system for drones. It will provide Hanbit Soft with the Lancaster model, a 0.95-meter long drone that can fly 45 minutes and gather real

Oct. 4, 2016

Hanbit Soft signs exclusive deal for PrecisionHawk drones

[URGENT] Hanmi Pharm's cancer drug retains approval

[THE INVESTOR] The Ministry of Food and Drug Safety announced on Oct. 4 that it will maintain its conditional approval for sale of Hanmi Pharmaceutical’s targeted cancer therapy Olmutinib, on condition that patients are made aware of the details of possible side effects and give their consent. Related article : Probes on Hanmi Pharma likely to focus on alleged insider tradingFollowing a report that one patient died from a severe skin-related side effects toxic epidermal necrolysis during the dru

Oct. 4, 2016

[URGENT] Hanmi Pharm's cancer drug retains approval

MBK seeks to take over world’s largest sushi franchise for US$1.5b

[THE INVESTOR] South Korea’s largest private equity fund management company MBK Partners is negotiating taking over controlling stake of Akindo Sushiro from its largest shareholder Permira for a reported US$1.5 billion, according to Seoul Economic Daily on Oct. 4. Bank of America, Merrill Lynch, Morgan Stanley and Nomura Holdings are lead counsels for the sale. Japan’s Akindo Sushiro is the world’s largest conveyor-belt sushi restaurant chain operator, with 135 billion yen (US$1.32 billion) reve

Oct. 4, 2016

MBK seeks to take over world’s largest sushi franchise for US$1.5b

Articles by Hwang You-mee