[THE INVESTOR]  Korea Electric Power Corp. announced on Oct. 11 that South African Department of Energy has selected it as preferred bidder to build and operate a thermal power plant. The state enterprise has formed a consortium with Japan’s Marubeni for the project that will build a 630 megawatt coal heat power generation plant in Thabametsi site, in Limpopo province, 370 kilometer northwest of Johannesburg.Both companies own 24.5 percent stake in the US$2.14 billion project and KEPCO is expect

Oct. 11, 2016

[THE INVESTOR] SK Holdings C&C announced on Oct. 11 that it has signed an agreement with China’s Hon Hai Precision Industry’s logistics subsidiary Jusda Supply Chain Management to set up a joint venture.Jusda is the logistics hub of Hon Hai, which trades as Foxconn Technology Group that is the world’s largest OEM company, and has 45 storage facilities spread in major locations across the world, providing services via land, sea and air. SK C&C will own the management rights and controlling stake

Oct. 11, 2016

[THE INVESTOR] LS Cable and System announced on Oct. 11 that it has received two orders worth US$67 million to supply extra-high voltage cables to Saudi Electricity Company.The state-owned electricity company is expanding the network in its capital Riyadh and second-largest city Jeddah, and LS Cable has signed a US$40 million and US$27 million contract with an engineering, procurement and construction company for the project.The South Korean cable manufacturer has maintained the lead in Middle E

Oct. 11, 2016

[THE INVESTOR] Hyundai Heavy Industries will stay on the steady track of recovery as orders on hand decline and delivery of vessels rises, according to Hana Financial Investment on Oct. 10. The securities firm maintained a “buy” recommendation and raised the target price to 200,000 won (US$179.99) from 166,000 won.HHI will post 11.4 trillion won in sales and 260 billion won in operating profit in the third quarter, forecast Park Mu-hyeon, an analyst at Hana, adding that its performance will impr

Oct. 10, 2016

[THE INVESTOR] Mattel has acquired majority stake in Sonokong, the Korean toy firm announced on Oct. 10.The American toy giant’s affiliate Mattel Marketing Holdings acquired 2,627,539 shares (11.99 percent) of Sonokong Chairman Choi Sin-gyu for 13.97 billion won (US$12.57 million). The South Korean company also signed a two-year agreement for exclusive rights for sale, marketing and distribution of Mattel products excluding games.Mattel is the world’s largest toy company owning Fisher-Price, Hot

Oct. 10, 2016

[THE INVESTOR] State-owned ChemChina has signed a non-disclosure agreement with Kumho Tire’s creditors last month and is reviewing acquisition of South Korea’s second largest tire maker, according to Maeil Business Newspaper on Oct. 9. Park Sam-gu, chairman of Kumho Asiana Group, has the right of first refusal and is preparing to buy Kumho Tire back as he confirmed on Oct. 10. The Chinese chemical firm’s bid, however, poses a serious threat to Park’s grand plan to restore his group, experts say.

Oct. 10, 2016

[THE INVESTOR] Siemens announced on Oct. 10 it will join hands with Hyundai Wia, an auto parts manufacturing affiliate of Hyundai Motor Group, to build a smart factory in Ansan, Gyeonggi Province.Siemens smart factory systemsThe factory will incorporate information and communications technology into the whole process from planning, design and manufacturing to distribution, enabling production of multiple items in small batches with significantly higher productivity. The German company operates A

Oct. 10, 2016

[THE INVESTOR] At least three patients died from side effects of Hanmi Pharmaceutical’s cancer treatment Olita Tab during the clinical trials, according to a Ministry of Food and Drug Safety report released by Rep. Kwon Mi-hyuk on Oct. 7.A 75-year-old patient died in December 2015 during the second phase of the trials, while a 57-year-old and 54-year-old patient died in March and June, respectively, during the second phase of global trials, the data showed.A total of 29 “serious adverse events a

Oct. 7, 2016

[THE INVESTOR] US biopharmaceutical company Biogen has gained about 1.85 trillion won (US$1.66 billion) on valuation of its call option from its contract with Samsung, according to the Korea Economic Daily on Oct. 6.This follows the hike in the value of Samsung Bioepis, which was established in 2012 as a joint venture between Samsung Biologics and Biogen. Biogen invested 49.5 billion won for 15 percent stake, with a call option that can secure up to 49.9 percent stake by the end of 2018.Samsung

Oct. 7, 2016

[THE INVESTOR]  KB Asset Management will invest US$200 million in a US gas and steam power generation plant at Marcus Hook Energy Center in Pennsylvania, according to Maeil Business Newspaper on Oct. 6.KB has created a fund from homegrown institutional investors and will lend it to Starwood Energy Group Global that is taking out loans worth US$520 million to acquire the US$760 million power plant. The 790 megawatt combined cycle power generation plant has 90 percent operation rate.The investment

Oct. 7, 2016

[THE INVESTOR] POSCO announced on Oct. 6 that its India Ahmedabad Processing Center has been completed. It is the fourth steep processing center in the south Asian country, demonstrating the South Korean steelmaker’s determination to target the rising hub of auto manufacturing. The center can produce 120,000 tons of cold rolled steel a year, and also offers shearing, sleeting, and blanking as well as storage and logistics service. It will focus on supplying commercial steel for global carmakers

Oct. 6, 2016