[THE INVESTOR] Maersk Line has denied ongoing rumors about its intention to acquire Korea’s Hanjin Shipping, or a route that will go up for sale later this month. “They are only rumors, and we do not comment on rumors,” said Mikkel Linnet, a representative for Maersk Line told The Investor on Oct.14. There had been speculation that Maersk -- the world’s largest container shipping company -- may take over Hanjin Shipping, which is nearly bankrupt and under court receivership. The rumors was rekin

[THE INVESTOR]  Hana Financial Investment on Oct.7 forecast Korea’s largest carmaker Hyundai Motor would hand out year-end dividends of up to 3,100 won (US$ 2.70) per share. The brokerage also calculated that the annual dividend profit ratio for ordinary shares at 3 percent, and 3 percent for preferred shares. Further, the carmaker’s third-quarter operating profit was expected to fall 14 percent on-year to 1.3 trillion won, which was lower than market estimates, but still on par with recent proj

[THE INVESTOR] HMC Investment & Securities forecast Korea’s largest wireless carrier SK Telecom to post sales of 4.32 trillion (US$3.87 billion) in the third quarter on a consolidated basis to reflect a 1 percent increase on-year. The figure is on target with market estimates, along with operating profit forecast of 414.6 billion won, down 15.5 percent. The brokerage also raised the earning per share growth for SK Telecom in 2017 to 19.2 percent.By Kim Ji-hyun (jemmie@heraldcorp.com)

[THE INVESTOR] Mirae Asset Daewoo on Oct.6 projected that CJ Korea Express would post a record-breaking operating profit of 61.2 billion won (US$ 548.41 million) in the third quarter of this year on the back of rising demand and overseas sales.The figure reflects an 18.6 percent rise on-year, according to the brokerage.CJ Express currently has a 43 percent market share in the domestic logistics industry, and the figure is expected to continue rising to possibly hit 50 percent by 2018, it added.

[THE INVESTOR]Hyundai Heavy Industries has clinched a deal to build two oil tankers, industry sources said on Oct.5. Under the contract with a European client, Hyundai Heavy will deliver the vessels starting in 2018. Hyundai Heavy has bagged deals to build 18 ships in the first eight months of this year. But the total value of the deals fell 75.7 percent on-year to reach US$2.27 billion.(theinvestor@heraldcorp.com)

[THE INVESTOR] Korea’s National Pension Service, which holds a 10 percent stake in Hanmi Pharmaceutical, has decided to file for damages against the local pharmaceutical company should it be found to have been involved in irregularities. “If the firm is discovered to have engaged in stock related irregularities that are penalized by the authorities, we will file the suit,” the world’s third-largest pension fund said in a statement.The move comes as the Korea Exchange and financial authorities ar

[THE INVESTOR] Hi Investment & Securities projected Hyundai Engineering and Construction’s third quarter sales to rise 2.9 percent, and operating profit to grow 2.8 percent on-year.Sales was estimated to reach 4.85 trillion won (US$4.36 billion), and operating profit 271.7 billion won. Stabilizing raw material costs in overseas construction projects, along with a rise in domestic housing sales has contributed to the increase, the brokerage said on Oct.5. By Kim Ji-hyun (jemmie@heraldcorp.com)

[THE INVESTOR]  Samsung BioLogics passed the preliminary approval for its planned IPO on the Korean stock exchange within the year, according to operators of Korea’s main bourse on Sept.29. Due to the firm’s affiliation with Samsung Group, and the fact that it is expected to raise up to 3 trillion won (US$2.70 billion) of funds, the upcoming IPO of Samsung Biologics has attracted much attention from investors here.The firm was established in April 2011. It is the largest contract manufacturer of

[THE INVESTOR] South Korea’s largest construction equipment maker Doosan Infracore has announced that its affiliate Doosan Bobcat would prematurely redeem US$100 million worth of loans as of Sept. 30. The announcement comes as Doosan Bobcat is scheduled to be listed on the main bourse KOSPI on Oct. 21 to raise up to 2.4 trillion won (US$2.17 billion) of funds. Doosan Bobcat borrowed US$1.7 billion in 2014, and in the following months, it prematurely paid back US$ 220 million. With the redemption

[THE INVESTOR LG International is expected to test produce coal it excavates from the Gam mines in Indonesia beginning this month. The coal reserves in the mines are projected to reach up to 220 million tons. The test production will be conducted until the end of this year. Commercial production will begin in January of 2017 with aims of churning out an annual 3 million tons. LG International is seeking to increase the supply to up to 140 million tons. A coal mine in IndiaThe South Korean tradin

[THE INVESTOR] NH Securities said on Sept.29 that LG Household & Health Care’s profits would grow below market estimates due to its stringent sales policies.The brokerage forecast LG to post a 22.6 percent growth in operating profit at 233.1 billion won (US$ 211.44 million), and sales to grow 15.1 percent to 1.59 trillion won in the third quarter of this year. This is following the firm’s recent decision to strictly limit sales of its cosmetic products per customer at duty-free shops. The move w

[THE INVESTOR] NH Investment & Securities forecast Lotte Chemical will post solid third-quarter earnings, with operating profit rising 27 percent to 616 billion won (US$556.18 million). “A fall in the exchange rate of the Korean won to the US dollar will force the bottom line figure to fall below market estimates, but profit will still rise considerably,” the brokerage said on Sept.27. By Kim Ji-hyun (jemmie@heraldcorp.com)

[THE INVESTOR] Hana Financial Investment forecast on Sept.27 that Korean Air -- the nation’s largest commercial airline -- is likely to post record-breaking earnings in the third quarter this year. Its revenue is estimated to rise 8.9 percent on-year to 3.2 trillion won (US$2.89 billion), while operating profit will surge 68.9 percent to 488.7 billion won. Consequently, the carrier’s second-half operating profit is set to reach 724 billion won.Code-sharing services with Delta Airlines to commenc

[THE INVESTOR] KG Inicis, provider of Korea’s largest online payment gateway services, is acquiring a 60 percent stake in Samsung’s mobile payment affiliate Allat for 27 billion won (US$ 24.40 million) on Sept. 26. With the acquisition, KG Inicis is expected to solidify its dominant market position by securing a market share of over 40 percent, according to industry figures.This year, KG is expected to secure up to 18 trillion won worth of transactions, including 2 trillion from Allat. KG would

[THE INVESTOR] A consortium formed by Maeil Dairies and Carlyle Group is most likely to be named preferred bidder for acquiring McDonald's Korea, according to industry sources.  This was after most of the heavyweight bidders dropped out of the race. A consortium formed by KG Group and NHN Entertainment dropped its bid, KG said on Sept.26. “We will not stretch our resources beyond what is necessary,” the group said in a statement. Recently, CJ Group dropped out of the race as well, leaving the Ma

[THE INVESTOR] US-based patent holding company NTP has requested Korea’s National Tax Service to return US$2.1 billion worth of corporate taxes it paid, according to industry and government sources on Sept. 26.They noted that NTP has filed a lawsuit for the tax refund at the Seoul Administrative Court. The US firm is demanding the local tax office to return taxes it paid on royalties it collected from Korean companies for using its patents.The move follows a lawsuit filed by another US company –

[THE INVESTOR]  Rolls-Royce said on Sept. 23 that it has teamed up with Hyundai Heavy Industries to build a vessel for the New Zealand Navy. Under the contract, Rolls-Royce will provide eco-friendly designs including a wave-piercing hull form for a 23,000-ton Polar-Class logistics support vessel that HHI will build to replace New Zealand’s 30-year-old vessel, the Endeavor. “For the first time in history, Rolls-Royce would be taking part in a military vessel design,” said Sam Cameron, vice presid

[THE INVESTOR]  HMC Investment & Securities estimated Celltrion’s shareholder value at 13.3 billion won (US$ 11.92 billion). It also expected the firm’s annual sales to rise 11.1 percent to 670.2 billion won this year, while operating profit increases 3.5 percent to 268 billion won.The brokerage said in a report that this is based on projections that Celltrion’s Remsima, the world’s first true biosimilar monoclonal antibody, would undermine even more market share of the original product, Remicad

[THE INVESTOR] Hanwha Techwin has secured a multibillion dollar supply deal with the world’s third-largest aerospace engine maker Pratt & Whitney, it disclosed on Sept. 22.The firm said it signed a deal with US-based P&W to supply US$4.5 billion worth of aircraft engine parts over the next 40 years.  The parts will be manufactured by P&W’s Singapore-based joint venture, in which Hanwha will be taking up a 30 percent stake. The two sides declined to reveal the acquisition costs. Assuming it exerc

[THE INVESTOR] Kyobo Life, the nation’s second-largest life insurer in terms of assets, has decided against bidding for a stake in Woori Bank.The insurer said on Sept.22 – a day ahead of the deadline for submitting a letter of intent – that, it has decided not to place a bid.Kyobo said the decision was based on the assessment that a stake acquisition may negatively impact the insurer’s asset portfolio. State-run Korea Deposit Insurance Corp. said in August that it would sell 30 percent of its 51