[THE INVESTOR] CJ E&M announced on Oct. 17 that it has acquired Vietnamese contents creator and advertising agency Blue Group and has established a joint venture with Thai media enterprise True Visions. The entertainment and media arm of CJ Group is expanding overseas and has chosen the two Southeast Asian countries as strongpoints. Blue Group is a leader in the local market with 80 billion won (US$70.16 million) annual revenue, and this is the first time a foreign company has taken over a local

Oct. 17, 2016

[THE INVESTOR] Korea Electric Power Corp.’s operating profit in the third quarter will reach its highest ever, according to Samsung Securities on Oct. 17.Its sales in the third quarter will stand at 15.47 trillion won (US$13.57 billion) but its operating profit should rise 7 percent to 4.64 trillion won on-year, estimated Yang Ji-hye, an analyst at Samsung.“Given that KOGAS’ sales of liquefied natural gas rose 12.5 percent in the third quarter on-year, that of KEPCO’s electricity must have incre

Oct. 17, 2016

[THE INVESTOR] Hite Jinro’s third quarter operating profit will not be able to meet market consensus, weakening the expectations for dividends that have been bolstering the stock price, according to Samsung Securities on Oct. 14. The securities firm maintained a “buy” recommendation but lowered the target price to 27,000 won (US$23.85). Hite JinroThe liquor giant’s operating profit in the third quarter will fall 15 percent to 40.9 billion won, and revenue will slip 0.5 percent to 504.4 billion w

Oct. 14, 2016

[THE INVESTOR] Goldman Sachs consortium and Daesung Group Partners will put the entire 100 percent stake of Daesung Industrial Gases on sale at the end of this month, according to new reports on Oct. 14.Goldman Sachs consortium is the largest stakeholder of the gas company, having purchased 68 percent stake from Daesung Group Partners for US$400 million in 2014 as part of the company’s restructuring. Kim Young-tae, CEO of Daesung, gave up on his call option to buy back the gas company stake rece

Oct. 14, 2016

[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