Articles by 황유미
황유미
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Hyundai Merchant Marine not considering sale of oil tanker division
[DISCLOSURE] Hyundai Merchant Marine (011200) announced on Oct. 4 that it is not considering selling its oil tanker division, which it reviewed in March and April to improve the financial structure, as it has signed an autonomous agreement with creditors and completed debt restructuring.(theinvestor@heraldcorp.com)
Oct. 5, 2016
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LS Networks sells entire Skechers Korea stake
[DISCLOSURE] LS Networks (000680) announced on Oct. 4 that it will sell its entire 100,000 shares of Skechers Korea to improve its financial structure. The stake is worth 29.4 billion won (US$26.34 million). (theinvestor@heraldcorp.com)
Oct. 5, 2016
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Sooin Cosmetic takes over tax refund shop LIS
[THE INVESTOR] Tax refund shop operator LIS announced on Oct. 4 that Sooin Cosmetic has signed a stock transfer agreement with its largest stockholder HC Asset Management to take over 2 million shares for 20 billion won (US$18.11 million). Sooin Cosmetic is an original equipment manufacturer and original development manufacturer of cosmetics. It also has its own brand and is in charge of Chinese distribution for It’s Skin. Its revenue in 2015 reached 148.8 billion won with operating profit of 22
Oct. 4, 2016
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5 conglomerates vie for downtown duty-free store license
[THE INVESTOR] Five conglomerates turned in their application for the license to operate a downtown duty-free store on Oct. 4.On the deadline set by Korea Customs Service, all the potential bidders -- Hotel Lotte, SK Networks, Shisegae DF, Hyundai Department Store and HDC Shilla Duty Free –- submitted their offers, vying for the three slots proposed for large firms. All candidates except SK Networks, whose duty-free store at Sheraton Walkerhill hotel has closed since failing to win a license la
Oct. 4, 2016
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Hanbit Soft signs exclusive deal for PrecisionHawk drones
[THE INVESTOR] Hanbit Soft announced on Oct. 4 that it has signed a three-year exclusive agreement with PrecisionHawk to distribute agricultural drones in South Korea. PrecisionHawk is a leading US company that specializes in industrial drones and system, having developed DataMapper, a software that analyzes data collected by drones, and LATAS, a flight control system for drones. It will provide Hanbit Soft with the Lancaster model, a 0.95-meter long drone that can fly 45 minutes and gather real
Oct. 4, 2016
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[URGENT] Hanmi Pharm's cancer drug retains approval
[THE INVESTOR] The Ministry of Food and Drug Safety announced on Oct. 4 that it will maintain its conditional approval for sale of Hanmi Pharmaceutical’s targeted cancer therapy Olmutinib, on condition that patients are made aware of the details of possible side effects and give their consent. Related article : Probes on Hanmi Pharma likely to focus on alleged insider tradingFollowing a report that one patient died from a severe skin-related side effects toxic epidermal necrolysis during the dru
Oct. 4, 2016
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MBK seeks to take over world’s largest sushi franchise for US$1.5b
[THE INVESTOR] South Korea’s largest private equity fund management company MBK Partners is negotiating taking over controlling stake of Akindo Sushiro from its largest shareholder Permira for a reported US$1.5 billion, according to Seoul Economic Daily on Oct. 4. Bank of America, Merrill Lynch, Morgan Stanley and Nomura Holdings are lead counsels for the sale. Japan’s Akindo Sushiro is the world’s largest conveyor-belt sushi restaurant chain operator, with 135 billion yen (US$1.32 billion) reve
Oct. 4, 2016
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Cosmax debuts on Chinese online megastore Tmall
[THE INVESTOR] Cosmax will operate an online flagship store on Chinese business-to-consumer platform Tmall.com, it announced on Oct. 4.South Korea’s largest cosmetics original development manufacturer, through its Chinese corporation, will partner with the domestic version of Tmall, a spinoff of China’s largest online retailer Alibaba Group Holding. Tmall is the largest third-party platform for brands and retailers in China by gross merchandise volume, and has 69.8 percent market share in the do
Oct. 4, 2016
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CJ Freshway eyes DSME’s catering subsidiary Welliv
[THE INVESTOR] CJ Freshway has submitted a letter of intent to take over Welliv, a food service subsidiary of Daewoo Shipbuilding and Marine Engineering, according to Korea Economic Daily on Sept. 29.The foodstuff distribution and school meal provision subsidiary of CJ is among the 13 candidates for the bid to acquire 100 percent stake in Welliv.Welliv posted 221.7 billion won (US$200.87 million) revenue in 2015 with 12.5 billion won operating profit, and about 90 percent of its turnover comes f
Sept. 30, 2016
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Patient died during Hanmi Pharma's lung cancer drug candidate's clinical trial
[THE INVESTOR] Hanmi Pharmaceutical 's novel lung cancer therapy candidate HM61713 was found to have side effects of serious skin toxicity during the second phase of clinical trial carried out in collaboration with Boehringer Ingelheim, according to the Ministry of Food and Drug Safety on Sept. 30. At least one patient has died during the clinical trial due to severe skin adverse reactions.The pharmaceutical composition showed inspiring therapeutic efficacy in the first phase of clinical trial c
Sept. 30, 2016
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POSCO Daewoo partners with Chinese firm to expand grain business
[THE INVESTOR] POSCO Daewoo has signed a memorandum of understanding with Sichuan Grain and Oil Corp. in Chengdu, China, it announced on Sept. 29. The Chinese state-owned company deals with 30 tons of grains and edible oil and fats, and through the partnership, the companies will jointly trade grains and increase investment in storage and logistics facilities. The South Korean trading company is planning to expand the trade volume of grains in China up to 5 million tons in four years. By Hwang Y
Sept. 30, 2016
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VIG Partners acquires funeral service firm Good Sangjo
[THE INVESTOR] South Korean private equity fund VIG Partners (formerly known as Vogo Investment Group) has signed a contract to acquire 84 percent stake in funeral service provider Good Sangjo for 65 billion won (US$58.89 million), it announced on Sept. 29.It has established a 513 billion won fund -- attracting 255 billion won investment from National Pension Service, 202 billion won from local financial institutions and 56 billion won from foreign institutional investors – and has decided to in
Sept. 30, 2016
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Boehringer Ingelheim returns rights for Hanmi Pharma’s tech
[THE INVESTOR] Hanmi Pharmaceutical announced on Sept. 30 that Boehringer Ingelheim has decided to return its exclusive license to develop and commercialize its lung cancer treatment HM61713.The German pharmaceutical company has signed an agreement in 2015 for which the South Korean partner received US$50 million upfront. The agreement also entitled Hanmi Pharma to potential milestone payments of up to US$680 million plus royalties on future sales. Although the German company will not perform fu
Sept. 30, 2016
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Entertainment industry heats up with merger boom
[THE INVESTOR] Bugs will acquire 70 percent stake in HOW Entertainment for 11 billion won (US$9.82 million) on Oct. 14, according to investment banking sources on Sept. 28.The music portal service subsidiary of NHN Entertainment had announced the plan in August, saying that it will acquire 70 percent stake in the entertainment agency, with 11,951 existing shares and 6,390 shares to be issued for capital increase, to diversify its business to cover K-pop contents production, distribution and cons
Sept. 30, 2016
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Samsung SDS reviewing logistics arm split-off
[DISCLOSURE] Samsung SDS (018260) reconfirmed on Sept. 30 that it is reviewing splitting off its logistics business with outside consultants, but nothing has been determined yet. It was responding to Korea Exchange’s inquiry regarding media reports on the same. “As for the overseas corporation, we have decided that it is necessary to separately manage IT service and logistics businesses, and is in the process of separation in accordance with local laws,” the company added. (theinvestor@heraldcor
Sept. 30, 2016
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