[THE INVESTOR] South Korea’s Hanmi Pharmaceutical will embark on Phase 3 clinical trials of its long-acting diabetes treatments in 2017, the company said on Oct. 27. The late-stage study on so-called GLP-1 diabetes treatments, which was initially set to begin in the fourth quarter this year, was delayed as production of the drug fell behind schedule, according to the drug maker. In 2015, French pharmaceutical firm Sanofi obtained an exclusive worldwide license to develop and commercialize the tr

Oct. 28, 2016

[THE INVESTOR] South Korea‘s Celltrion Healthcare will ship 260 billion won (US$227.81 million) worth of a Remicade biosimilar developed by its affiliate Celltrion to the US by the end of 2016, the company said on Oct. 27. Celltrion Healthcare, drug maker Celltrion’s overseas marketing affiliate, received a purchase order from US pharma giant Pfizer which holds exclusive rights to commercialize Celltrion’s autoimmune disease drug Inflectra, a biosimilar version of Johnson & Johnson’s Remicade, i

Oct. 27, 2016

[THE INVESTOR] South Korea’s state-run National Pension Services, which oversees over 540 trillion won (US$473 billion), will pour 1 trillion won into local equities by the end of this year, the public pension fund said on Oct. 26. In early November, the NPS will pick 12 asset management companies to run the fund who will be divided into three groups based on their investment specializations -- value stock, small and mid-cap stock and those who use quantitative stock selection techniques. Indust

Oct. 27, 2016

[THE INVESTOR] South Korean drug maker Hanmi Pharmaceutical said on Oct. 27 that its operating profit plunged 61.6 percent in the third quarter compared with the previous year when the firm’s revenue surged after winning a blockbuster licensing deal from German pharma giant Boehringer Ingelheim. Operating profit came to 13.77 billion won (US$12.10 million) on consolidated basis, while sales decreased 18.1 percent to 219.72 billion won in the quarter ended on Sept. 30. It swung to a net profit of

Oct. 27, 2016

[THE INVESTOR] South Korean internet giant Naver on Thursday reported that its third-quarter revenue surged 20.5 percent on-year to reach 1.01 trillion won ($890 million), led by growing sales from its overseas and mobile businesses. 　It is the first time ever that Naver’s quarterly earnings have surpassed 1 trillion won, the company said in a regulatory filing. In the July-September period, Naver’s operating profit surged 27.6 percent from a year earlier to 282.3 billion won. Its consolidated n

Oct. 27, 2016

[THE INVESTOR] Naver, South Korea’s top internet portal operator, will continue to maintain a dividend payout ratio of 30 percent, the company said on Oct. 27. “Since 2009, we have been giving 30 percent of net income to shareholders and we will continue to do so,” Naver said during a conference call to discuss its third-quarter financial and operating results. It also added that the company has no plan to retire its treasury stocks. The company's net profit surged 69.5 percent from a year earli

Oct. 27, 2016

[THE INVESTOR] South Korea’s cosmetics maker CLIO, which seeks to get listed on the Seoul bourse next month, will target China’s growing color makeup market, the firm said on Oct. 24. “Cosmetics are now regarded as a tool to express ‘myself’ departing from its traditional role of protecting skin. The trend is remarkably strong among Chinese youngsters,” CLIO’s chief executive Han Hyun-ok said during a press conference in Seoul. On the back of K-beauty boom, CLIO has been expanding its foothold i

Oct. 24, 2016

[THE INVESTOR] China’s Great Rich Technologies got approval on Oct. 24 from the Korea Exchange to list on South Korea’s secondary KOSDAQ market. The stock trading will kick off on Oct. 25 with the initial offering price of 5,000 won (US$4.41). Korea Exchange headquartersEstablished in 2012, Hong Kong-based Great Rich Technologies is a holding company of its subsidiary that manufactures optical and protective film. GRT posted a net profit of 164.5 billion won (US$144.9 million) and a sale of 35 b

Oct. 24, 2016

[THE INVESTOR] South Korea’s major air carriers Korean Air Lines, Asiana Airlines and Jeju Air are expected to beat earnings estimates in the third quarter thanks to rising air traffic and low oil prices, a local brokerage said on Oct. 24. According to Samsung Securities, the combined revenue and operating profit of the three air carriers are likely to increase 7.4 percent and 59 percent to log 5 trillion won (US$4.47 billion) and 597.1 billion won, respectively, in the July-September period. An

Oct. 24, 2016

[THE INVESTOR] France’s state-run shipyard DCNS is mulling a bid to acquire STX France, the French unit of South Korea’s troubled shipyard STX Offshore & Shipbuilding which is under court receivership, according to industry sources on Oct. 21. Since the Korean bankruptcy court announced on Oct. 19 that it would sell its entire stake in STX Shipbuilding and a 66.7 percent stake in STX France, speculation has been rising about potential bidders, including DCNS. The price of the package deal is est

Oct. 21, 2016