[DISCLOSURE] Photovoltaic power business operator S-Energy (095910) announced on Oct. 17 that it has decided to terminate a trust contract with Mirae Asset Daewoo (006800) to acquire treasury stocks worth 2 billion won (US$1.75 million) following the expiry of contract. The remaining asset will be returned in cash and stocks. S-energy owned 7.75 percent of its own stocks before the termination.By Yun Jeong-hyeon (clareyun@heraldcorp.com)

Oct. 17, 2016

[DISCLOSURE] A semiconductor equipment manufacturerAP Systems (054620) announced on Oct. 14 that it will spin off its departments into equipment and investment divisions. It added that the equipment division will be relisted on the KOSDAQ as a newly established firm and the investment division will request for a change in listing. By Yun Jeong-hyeon (clareyun@heraldcorp.com)

Oct. 14, 2016

[DISCLOSURE] Selvas AI (108860) announced on Oct. 14 that it has obtained a patent for digital artificial intelligence written data recognition technology and computer programs, which will contribute to enhancing the digital handwriting technology. By Yun Jeong-hyeon (clareyun@heraldcorp.com)

Oct. 14, 2016

[THE INVESTOR] South Korea said on Oct. 14 that it has inked an agreement with Singapore to share some financial information on their citizens residing in each other’s territory.It’s meant to help tackle offshore tax evasion and other illegal activities, the Ministry of Strategy and Finance said.Under the deal, the two sides will automatically exchange some details on their bank accounts each year starting in 2018.The information to be shared include individuals‘ names, addresses, tax numbers, a

Oct. 14, 2016

[THE INVESTOR] South Korea’s stock market operator reported on Oct. 13 that it will attempt to draw more institutional traders, especially pension funds, to invest in exchange-traded funds and equity-traded notes.“For the continued development of the ETF and ETN markets, a long-term and stable demand infrastructure is necessary,” Korea Exchange CEO Jeong Chan-woo said in a speech at an international forum here on the investment tool.The bourse will provide support for institutional investors to

Oct. 13, 2016

[THE INVESTOR] South Korea’s financial watchdog reported on Oct. 13 that it will exert more efforts to detect possible risks in the local banking sector.Speaking to lawmakers, Zhin Woong-seob, governor of the Financial Supervisory Service, reminded domestic banks of the need for stricter credit risk assessment of firms that may go insolvent anytime soon.The FSS is at work with a “higher sense of tension and alertness than any other time to secure the soundness of South Korea‘s financial firms an

Oct. 13, 2016

[DISCLOSURE] Alpha Holdings (117670) said on Oct. 12 that it will acquire a total of 3.35 million shares of US-based Viral Gene for 4.8 billion won (US$4.28 million) to expand overseas and participate in its management. The total acquisition amounts to 14 percent of its equity capital. By Yun Jeong-hyeon (clareyun@heraldcorp.com)

Oct. 12, 2016

[DISCLOSURE] Komipharm International (041960) announced on Oct. 12 that its subsidiary in Australia has decided on a capital increase worth 18.9 billion won (US$16.82 million) through third-party allotment to finance its operations (2.06 billion won) and invest in facilities (16.89 billion won). A total of 149,612 shares will be issued to Korea Insight Investment and 33 others. The issue price is 126,729 won per share. By Yun Jeong-hyeon (clareyun@heraldcorp.com)

Oct. 12, 2016

[DISCLOSURE] Daewha Pharmaceutical (067080) reported on Oct. 12 that it has inked a US$20.12 million five-year contract with NovoSci in United Arab Emirates to supply pharmaceutical products under the condition its products are granted approval for sale in 11 countries including Saudi Arabia. This amounts to 16.16 percent of its revenue last year.By Yun Jeong-hyeon (clareyun@heraldcorp.com)

Oct. 12, 2016

[THE INVESTOR] The Trade Ministry reported on Oct. 11 that seven more South Korean companies are submitting their applications for voluntary corporate restructuring. A government panel is set to hold a meeting Oct. 18 to decide whether to endorse proposed corporate restructuring moves by seven companies involved in such sectors as steel, shipbuilding equipment and materials, textile and solar power as reported by the ministry. Last month, the government vowed to encourage local steel and petroch

Oct. 11, 2016

[THE INVESTOR] Daewoo Shipbuilding & Marine Engineering has sealed a 340 billion-won (US$304 million) deal to build a frigate for the South Korean Navy, the company reported on Oct. 11. Under the deal, the major South Korean shipbuilder will deliver the 2,800-ton frigate by the end of 2020, the company said.The ship, 122 meters long and 14 meters wide, has a maximum speed of 30 knots, according to the shipyard.DSME has a record of building a total of 17 submarines, and 44 combat ships and frigat

Oct. 11, 2016

[THE INVESTOR] Cigarette sales in South Korea edged up from a year earlier in the third quarter of this year despite the government-led anti-smoking campaign, government data showed on Oct. 10. South Korean smokers purchased 990 million packs of cigarettes during the July-September period, up 0.6 percent from 980 million sold a year earlier, according to the data compiled by the Ministry of Strategy and Finance.The quarterly figure, however, marked an 18-percent plunge from 1.2 billion packs sol

Oct. 10, 2016