[THE INVESTOR] AhnLab (053800) reported on Oct. 20 that its consolidated operating profit in the third quarter rose 27 percent to 4.31 billion won (US$3.85 million) from the same period last year.Its sales increased 22 percent to 37.66 billion won and net profit rose 17 percent to 3.61 billion won on-year in the same period.On a standalone basis, it posted a 19 percent gain in quarterly operating profit, reaching 4.15 billion won and its sales increased 22 percent to 37.04 billion won. Its net p

[THE INVESTOR] The government announced on Oct. 19 that it will make an additional input of 1.5 trillion won (US$1.33 billion) into a project by 2020 to improve outdated facilities of state-sponsored industrial complexes in a way to attract more firms.Under the plan, industrial parks will be transformed into industry-university research clusters to strengthen their role in spearheading the country‘s production, employment and research and development, according to the government’s joint press re

[THE INVESTOR]  The government announced on Oct. 19 that South Korea will center on fostering the local engineering sector as one of the country’s new growth engines. Engineering is an industrial service of design, project management, maintenance and others, which are essential for companies to manufacture a product or construct a building from the beginning.It is considered a high value-added sector that has a wide collaboration with various fields like physics, chemistry, mathematics, business

[THE INVESTOR] South Korea’s stock market operator reported on Oct. 19 that it has secured a contract with its Vietnamese counterpart to set up the IT infrastructure for the Southeast Asian nation’s equity trading.Under the deal with the Ho Chi Minh Stock Exchange, or HoSE, the Korea Exchange will offer a set of programs based on a next-generation system, called EXTURE Plus, to meet the entire requirements for Vietnam’s stock trading, including market information, market surveillance, clearing &

[THE INVESTOR] President Park Geun-hye visited a major industrial complex in the southern city of Gumi on Oct. 19 in her latest move to call for efforts to foster new industries and reinvigorate the local economy.Her provincial tour to Gumi, where she has a strong following, came amid flagging public support. Park’s approval rating fell to a record low of 26 percent in a survey released on Oct. 14 by the local pollster Gallup Korea.She visited KAIDEA, a 3-D printer developer, and VM e-Korea, an

[DISCLOSURE] Korea Petrochemical (006650) announced on Oct. 17 that it plans to invest 106.6 billion won (US$94.07 million) to expand its factory for polypropylene and high-density polyethylene in Ulsan, South Gyeongsang Province, to increase sales of its specialized products. This deal is equivalent to 10.29 percent of the firm’s equity capital and expires Dec. 31, 2018. By Yun Jeong-hyeon (clareyun@heraldcorp.com)

[THE INVESTOR] Semiconductors’ chemical materials manufacturer, Soul Brain (036830) announced on Oct. 18 that it is set to absorb its subsidiary Soul Brain Materials on Dec. 26. The merger will create synergies and promote management efficiency, it added.By Yun Jeong-hyeon (clareyun@heraldcorp.com)

[THE INVESTOR] Majestar (035480), a casino operator and digital broadcasting products manufacturer, reported on Oct. 18 that it is to issue convertible bonds worth 25 billion won (US$22.09 million) to finance its operations. They will be issued separately in 15 billion won and 10 billion won lots, and offered to Venetian Holdings Association of Investment. Majestar also announced that it has decided on a capital increase worth 10 billion won (US$8.83 million) through third-party allotment to fin

[THE INVESTOR] South Koreans with savings-type pension schemes bagged a monthly average of only 280,000 won (US$245) in pension last year, far less than the minimum cash needed for a post-work life, government data showed on Oct. 17. They paid a total of 16 trillion won for savings-type pension programs here in 2015 alone, with monthly payments of total 2.42 million won on average, according to the Financial Supervisory Service. They received a total of 1.36 trillion won in pension last year.The

[DISCLOSURE] Online music services provider Soribada (053110) announced on Oct. 17 that its subsidiary Will Investment has decided on a capital reduction and will retire 2.2 million common shares, so that it can collect investment. The stocks will be acquired at par value price of 5,000 won (US$4.39) per share. Its capital will be reduced to 400,000 shares worth 2 billion won from 13 billion won. The reduction will be carried out on Nov. 18. Creditors can file formal objections by Nov. 18.By Yun

[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

[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)

[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)

[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)

[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

[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

[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

[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

[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)

[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)