The Korea Herald

Disney subsidiary invests US$15m in IHQ

[THE INVESTOR] Entertainment company IHQ has partnered with A&E Networks, a subsidiary of Walt Disney Co. to jointly develop contents for the global market, according to Maeil Business Newspaper on Oct. 24. IHQ has been seeking to expand into television drama and recording production and has a partner to provide its contents worldwide. Walt Disney will secure a foothold to make further inroads into South Korea. A&E, a documentary and drama cable, will also make use of a range of hallyu contents

Oct. 25, 2016

[EQUITIES] ‘Cheil Worldwide to post record-high annual operating profit’

[THE INVESTOR] Cheil Worldwide’s 2016 operating profit will reach 137.4 billion won (US$120.98 million), the largest figure ever, Daishin Securities forecast on Oct. 25. The advertising company reported 28.8 billion won operating profit in the third quarter, up 6.14 percent on-year, in a regulatory filing on Oct. 24. Its revenue rose 14.32 percent to 780.9 billion won, and net profit hiked 43.38 percent to 25.5 billion won on-year.“Cheil Worldwide’s Q3 operating profit is significantly higher th

Oct. 25, 2016

[EQUITIES] ‘Cheil Worldwide to post record-high annual operating profit’

Lotte Chemical to acquire W378b stake in US affiliate

[DISCLOSURE] Lotte Chemical (011170) announced on Oct. 24 that it has decided to acquire 80 shares of its affiliate Lotte Chemical USA for 378.4 billion won (US$333.19 million), increasing its stake to 71 percent (200 shares).(theinvestor@heraldcorp.com)

Oct. 25, 2016

Hanssem’s Q3 operating profit up 31% to W42b

[DISCLOSURE] Hanssem (009240) reported on Oct. 24 that its operating profit in the third quarter hiked 31 percent to 42.34 billion won (US$46.04 million) from the same period last year. Its revenue rose 16 percent to 474.83 billion won on-year. (theinvestor@heraldcorp.com)

Oct. 24, 2016

Nature Cell seeks USFDA approval for Alzheimer’s treatment trials

[THE INVESTOR] Nature Cell announced on Oct. 24 that it has filed for approval of the US Food and Drug Administration to initiate the first and second phases of clinical trials for AstroStem, a stem cell therapy for Alzheimer’s disease, in the US. Since 2008, Nature Cell has been seeking to develop a novel medicine for the still-incurable brain disease. Its CEO Ra Jeong-chan and a team from Seoul National University jointly had confirmed the possibility of a therapy using autologous adipose tiss

Oct. 24, 2016

Lotte narrowly maintains No. 3 rank in global duty-free sales

[THE INVESTOR] Lotte Duty Free has maintained the third place for two consecutive years among the world’s duty-free operators by 2015 revenue, it announced on Oct. 24.According to The Moodie Report, Lotte’s sales in 2015 reached 3.75 billion euros (US$4.08 billion), after Switzerland’s Dufry (5.68 billion euros) and US’s DFS Group (3.77 billion euros). Lotte beat France’s LS Travel Retail to the third rank in 2014, and has closed in on DFS, in line with its aim to become the top duty-free operat

Oct. 24, 2016

Lotte narrowly maintains No. 3 rank in global duty-free sales

AmorePacific further taps into US with Innisfree

[THE INVESTOR] AmorePacific Group will launch its better-priced range Innisfree with a flagship store in Manhattan in 2017, according to Money Today on Oct. 24. Actor Lee Min-ho attending the opening ceremony for Innisfree`s Shanghai flagship store in 2015. InnisfreeThe South Korean beauty giant is looking for a site for the store slated to open as early as the first half next year, and will open multiple outlets across the US, where it already has four brands Amore Pacific, Sulhwasoo, Laneige a

Oct. 24, 2016

AmorePacific further taps into US with Innisfree

[EQUITIES] ‘Lotte Confectionary’s Q3 earning below market expectations’

[THE INVESTOR] Lotte Confectionary’s third-quarter earnings will not be able to meet market expectations, according to Korea Investment and Securities on Oct. 24. The securities firm adjusted the target price to 250,000 won (US$219.11) from 290,000 won, forecasting its third-quarter operating profit will rise only 2.6 percent, as overseas affiliates including Rakhat in Kazakhstan are yet to show improved performance due to the depreciated local currencies. From the fourth quarter, however, opera

Oct. 24, 2016

SeAH Steel in talks to acquire Russian pipe maker’s US factory

[DISCLOSURE] SeAH Steel (003030) acknowledged that it is in talks to acquire Russian steel pipe manufacturer OMK’s tube factory in Texas, US to strengthen its competitiveness in North America, but that nothing specific was determined, in a statement released on Oct. 21 in response to Korea Exchange’s inquiry regarding media reports. (theinvestor@heraldcorp.com)

Oct. 21, 2016

Hana Financial’s Q3 net profit jumps 77%

[THE INVESTOR] Hana Financial Group reported on Oct. 22 its net profit in the third quarter surged 76.6 percent on-year to 450.1 billion won (US$396 billion) on a consolidated basis. The third-quarter earnings were Hana’s highest quarterly results since the first quarter of 2012.Interest income came to 3.45 trillion won in the January-September period, up 2 percent on-year, boosting the performance. However, the group’s net interest margin, a key barometer of profitability, slipped 0.01 percenta

Oct. 21, 2016

Lotte scales up expansion into Vietnam

[THE INVESTOR] Lotte Group is actively seeking to strengthen its presence in Vietnamese real estate market. Lotte Asset Development announced on Oct. 21 that it has decided to acquire 10 percent stake in Lotte Properties (Hanoi) Singapore for 16.32 billion won (US$14.43 million), to develop and manage real estate properties in Hanoi. It already operates Lotte Center Hanoi since 2014, the group’s first overseas complex. “Lotte affiliates as well as local partners will invest and acquire remaining

Oct. 21, 2016

Cosmax to increase capital by W121b

[DISCLOSURE] Cosmax (192820) announced on Oct. 21 that it has decided to increase its capital by 120.75 billion won (US$106.81 million) to finance operations and invest in facilities. It will issue 1.05 million shares and offer to shareholders at 115,000 won per share. The new stocks will be listed on January 3, 2017.(theinvestor@heraldcorp.com)

Oct. 21, 2016

Crown Confectionary to spin off food division

[THE INVESTOR] Crown Confectionary (005740) announced on Oct. 21 that it will spin off its food division, into a new entity which will carry the company name, while the remaining division will operate as Crown Haitai Holdings, its holding company. It will maintain its listing on the stock market and the new spin-off will seek relisting. The due date for the split is March 1, 2017.(theinvestor@heraldcorp.com)

Oct. 21, 2016

BlackRock acquires POSCO, Shinhan stakes

[THE INVESTOR] The world’s largest asset management company BlockRock has acquired 5.13 percent stake each inPOSCO andShinhan Financial Group, according to Financial Supervisory Service’s data on Oct. 20.BlackRock Fund Advisors and 14 others in special relationship reported that they have newly acquired 4,415,820 shares of POSCO and 24,320,723 shares of Shinhan Financial Group. South Korea’s largest steelmaker has shown the best performance since the second quarter in 2013. Its operating profit

Oct. 21, 2016

BlackRock acquires POSCO, Shinhan stakes

Hanjin Shipping considering Long Beach Terminal sell-off

[DISCLOSURE] Hanjin Shipping (117930) acknowledged that it is seeking to sell its Long Beach Terminal in the US but nothing has been specified, in a statement released on Oct. 21 in response to Korea Exchange’s inquiry regarding media reports. “To secure funds for turnaround, we are seeking to sell the stake in our subsidiary Total Terminals International,” said the company. (theinvestor@heraldcorp.com)

Oct. 21, 2016

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