Foreign investors in two Korean companies -- Unison and Yakjin Trading -- managed to sell their stakes earlier this week, but only at significant losses, disclosures showed Tuesday. The sale price was significantly lower than what the investors -- Japanese conglomerate Toshiba and US private equity firm Carlyle Group -- had paid at least seven years before to acquire the assets. Toshiba, the largest shareholder of wind turbine maker Unison, has agreed to sell a 13.9 percent stake, or 15.5 mil

Market Aug. 25, 2020

Korean investors have partly invested in a $650 million financing package for two infrastructure projects in Asia-Pacific countries during its fiscal year from July 2019 to June 2020, International Finance Corp. said in an announcement Monday. Of the major private sector investment deals in 12 Asian countries supported by IFC, Korean entities have invested in two projects including a 216-megawatt hydroelectric plant on the Trishuli River in Kathmandu, Nepal worth $450 million. The other on

Market Aug. 25, 2020

Korean startup incubation program Seoul Fintech Lab plans to house 30 new tenant startups starting from October this year, its operator said Monday. Of the 30 new tenant enterprises, five will be non-Korean while the rest will comprise Korean companies. Eligible applicants must be dedicated to financial technologies for the Asian market and their business must not be more than 7 years old, a Seoul Fintech Lab official said. Applications will be accepted online until Sept. 11. Qualified partic

Market Aug. 24, 2020

Buyout investors at home and abroad are zeroing in on waste management companies in South Korea, as they hope to enjoy rising income over soaring demand for their services, according to market watchers on Monday. Such buyout bids, in turn, present exit opportunities to foreign capital holding majority stakes in such companies, they said. Last week, international investment firm Kohlberg Kravis Roberts closed the acquisition of 100 percent in medical and industrial waste management f

Market Aug. 24, 2020

Amid the growing need to have a fresh approach in the already saturated shared space industry, local company FastFive is turning to small commercial building landlords to minimize initial expenditures and build a sustainable profit structure. Kim Dae-il, chief executive officer of FastFive, told The Korea Herald in a recent interview that the company is looking to forge more partnerships with landlords of small commercial buildings instead of signing long-term lease contracts with landmark bui

Market Aug. 23, 2020

Despite managing $61 billion in assets, South Korea‘s private equity industry is considered a relatively immature market, compared to global financial hubs like London, New York and Hong Kong. The segment, however, has growth potential if it is able to improve transparency by addressing issues, including a lack of standardized reporting practices and inconsistency in the portfolio valuation methodology by private equity fund managers, according to Preqin, a London-based financial data prov

Market Aug. 21, 2020

Shinhan Financial Group signed a deal to acquire a controlling stake in Neoplux, Doosan’s investment arm, for 73 billion won ($61.4 million), a filing showed Thursday. The transaction between Shinhan and the conglomerate‘s holding firm Doosan Co. is set to close by Sept. 29. As a result, Shinhan will control a 96.77 percent stake in Neoplux. The news comes a month after Shinhan was picked as the preferred bidder for the takeover in late July. Neoplux was founded in 2000, and ha

Market Aug. 20, 2020

WeWork said Thursday it would continue to push forward with its Korean business, as the local branch showed signs of resilience in its local operation despite the coronavirus fallout. According to WeWork Korea, which operates 20 shared working space locations in Seoul and Busan, its space-as-a-service platforms here logged their highest figures in monthly membership renewals and sales in July. The company also said that it saw a 7 percent increase in membership from February to July, though i

Market Aug. 20, 2020

South Korea’s signature “Growth Support Fund,” a state-backed financing program for venture firms, raised a combined 8.6 trillion won ($7.2 billion) in commitments as of July, one of the fund backers, Korea Development Bank, said Thursday. Given the higher-than-anticipated matchmaking activities for subfunds by external partners, the Growth Support Fund’s total commitments for growth equities is expected to reach the mark of 9 trillion won by this year, KDB added. This

Market Aug. 20, 2020

The Public Officials Benefit Association said Wednesday it plans to select two global asset management houses as external partners to manage its overseas fixed income portfolios. Under the plan, the state-run institutional investor, which manages funds to support public officials’ welfare, will commit a total of $350 million to the appointed two investment houses. To qualify for consideration, POBA said each prospective manager must oversee over $5 billion worth of debt instruments

Market Aug. 19, 2020

Shinhan Alpha REIT rolled out plans to buy 37,600 square meters of office space in Twincity Namsan in central Seoul for 238.6 billion won ($201.6 million) from KB Asset Management, a filing showed Wednesday. The property occupies 20 floors of the 30-story commercial building. Built in 2015 and located in Yongsan-gu, in the vicinity of Seoul Station, Twincity Namsan is composed of two buildings -- commercial and residential. The office segment is composed of 18 floors above ground and two base

Market Aug. 19, 2020

DSC Investment, South Korea’s venture capital house trading on the Kosdaq stock market, said Tuesday its first-half performance was buoyed by the successful stock market debut of its portfolio companies. The company last Friday announced it logged 8.6 billion won ($7.3 million) in revenue during the January-June period, up 36.4 percent from a year earlier. Its net profit came in at 4.1 billion won, up 60 percent, during the cited period. The company said the improved earnings were attrib

Market Aug. 18, 2020

The push by some lawmakers to revise the Insurance Business Act is weighing down on the nation’s largest life insurance firm, Samsung Life Insurance, as the insurer would have to offload a large part of its Samsung Electronics stake, now worth nearly 30 trillion won ($25.3 billion). The move recently caused Samsung Life stock prices to fluctuate heavily, partly on speculative buying in anticipation that Samsung Life’s valuation will grow higher in the long run as a result of the sel

Market Aug. 17, 2020

Pangyo, a South Korean version of Silicon Valley, is garnering attention as an emerging destination for office investment as key regulations affecting the area are set to expire, a report showed Monday. The stabilizing occupancy in Pangyo 1st Techno Valley and Pangyo Alpha Dome City and the 10-year restrictions being gradually lifted from Pangyo 1st Techno Valley starting this year will generate new investment opportunities despite COVID-19, according to a report by real estate services firm Co

Market Aug. 17, 2020

Morgan Stanley Capital International announced Wednesday it has added three South Korean biotechnology stocks to its MSCI Korea Index. This comes as the technology prowess of the companies has come under the limelight during the novel coronavirus outbreak and subsequently drove up their stock price. 　 Alteogen, Seegene and Shin Poong Pharma have been added to the index, replacing Daewoo Engineering & Construction, Helixmith and Hyundai Department Store. Seegene is Korea’s leading ex

Market Aug. 13, 2020