Articles by 윤정현
윤정현
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TonyMoly to build W23b manufacturing facility in China
[THE INVESTOR] Korean cosmetics firm TonyMoly announced on Oct. 17 that it will build a new manufacturing facility worth 23 billion won (US$20.16 million) in Zhèjiāng Shěng, China, through its Chinese affiliate Megacos.The manufacturing facility will be located on a 59,400 square-meter site and is expected to be completed in June 2017. It is also set to make complementary investments in the future for “one-stop” system to operate all processes at a time, including product development and product
Oct. 17, 2016
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S-Energy terminates trust contract for W2b repurchase
[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
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AP Systems to spin-off and relist divisions
[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
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Selvas AI earns patent for digital AI written data technology
[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
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Korea, Singapore to distribute financial info on local residents
[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
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KRX to encourage ETFs, ETNs for pension funds
[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
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FSS calls for strict monitoring of banks’ financial health
[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
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Gong Cha Korea to increase RTT stake to 70%
[THE INVESTOR] Gong Cha Korea, a milk tea-specialized franchise, announced on Oct. 12 that it will increase its stake in parent company Royal Tea Taiwan to 70 percent. Gong Cha Korea signed memorandum of understanding with RTT shareholders this April to this effect. The Korean branch acquired 35 percent stake in July and will secure another 35 percent by January 2017.The remaining 30 percent stake will continue to be held by existing shareholders in Taiwan including RTT owners. Gong Cha Korea's
Oct. 13, 2016
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Alpha Holdings to acquire 3m shares of US firm
[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
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Komipharm to issue shares worth W18b
[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
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Samsung Heavy receives W240b order for 4 oil tankers
[THE INVESTOR] Samsung Heavy Industries won a deal to build four oil tankers worth 240 billion won ($220 million), the company said Wednesday.The shipbuilder said it won a contract to build two 123,000-deadweight-ton oil tankers and two other 157,000-DWT oil tankers for Norwegian firm Viken.This is the firm’s second deal of the year, following the first contract two weeks ago involving an order to construct two 180,000-cubic-meter class liquefied natural gas carriers worth 420 billion won for Mo
Oct. 12, 2016
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Daewha Pharma receives US$20m order from NovoSci in UAE
[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
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7 more firms seek fast track corporate restructuring
[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
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DSME receives W340b frigate order
[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
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Cigarette sales edge up in Q3 despite higher prices
[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
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