[THE INVESTOR] Woori Bank reported on Oct. 19 that its net profit in the third quarter rose 15.9 percent to 355.6 billion won (US$315.95 million) from the same period last year.Its accumulative net profit this year hiked 31.6 percent on-year to 1.16 trillion won, surpassing that of the whole year 2015.The interest income increased while bad account cost decreased, leading to a better performance, said the bank. Net interest income from January to September reached 3.75 trillion won, a 6.5 percen

Oct. 19, 2016

[THE INVESTOR] CJ CheilJedang’s stock price will rise thanks to the growth in processed foods and bio divisions, according to Korea Investment and Securities on Oct. 19, maintaining a “buy” recommendation and the target price of 500,000 won (US$444.25).The company’s third-quarter turnover will rise 11.1 percent on-year to 3.74 trillion won and its operating profit 9.8 percent to 244.3 billion won on a consolidated basis, forecast Lee Gyeong-ju, an analyst at the securities firm.Its performance w

Oct. 19, 2016

[THE INVESTOR] A total of 14 affiliates of three conglomerates -- Booyoung, Hyundai and Hyundai Department Stores -- have neglected to post regulatory filings, according to Fair Trade Commission on Oct. 18.The independent body found 211 cases of negligence. Seven affiliates of Booyoung(Chairman Lee Joong-keun), a construction and housing rental company, accounted for 203 cases including 192 cases of intra-affiliate monetary transaction that were not reported despite being passed by the board of

Oct. 18, 2016

[THE INVESTOR] Paradise Group (034230) will be burdened by the costs for building a resort in Yeongjongdo that is slated to open in 2017, said Shinhan Investment on Oct. 18. The securities firm maintained a “buy” recommendation but lowered the target price to 18,000 won (US$15.90) from 21,000 won. “The third-quarter revenue will rise 22.9 percent on-year to 175.5 billion won and the operating profit will be up 46.4 percent to 16.8 billion won,” forecast Seong Jun-won, an analyst at Shinhan. The

Oct. 18, 2016

[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