[DISCLOSURE] STX Heavy Industries (071970) said on July 22 that it has sought permission from the Seoul Central District Court to initiate corporate restructuring for rehabilitation. The court will evaluate both the application and related documents and make a decision.

[DISCLOSURE] Hyundai Steel (004020) reported on July 22 that its second-quarter operating profit fell 0.26 percent to 432.17 billion won (US$380.80 million) on-year. However, both net profit and sales rose 26.5 percent and 5.8 percent to 254.56 billion won and 4.22 trillion won, respectively.

[DISCLOSURE] JT Corp. (089790), a semiconductor equipment manufacturer, has inked a 1.5 billion won (US$1.30 million) supply contract with Samsung Electronics (005930), it said on July 22. The deal expires this October.This amounts to 4.31 percent of JT’s recent revenue.

[DISCLOSURE] Seungil (049830) announced on July 22, that its second-quarter operating profit dropped 26.17 percent to 3.35 billion won (US$2.95 million). The net profit also fell 26.17 percent to 2.37 billion won, while sales increased 6.23 percent to 40.87 billion won.

[THE INVESTOR] South Korean shares traded almost unchanged late morning on July 22, paring part of earlier losses.The benchmark Korea Composite Stock Price Index added 0.7 point, or 0.03 percent, to 2,012.92 as of 11:20 a.m.Large caps traded mixed with market kingpin Samsung Electronics sinking 1.43 percent.Major chipmaker SK hynix shed 1.56 percent, while POSCO, the country’s leading steelmaker, advanced 0.46 percent.Naver, the operator of the country’s top Internet portal, rose 0.71 percent. T

[DISCLOSURE] Samsung Electro-Mechanics (005930) said on July 22 that the firm’s second-quarter operating profit fell 83.9 percent to 15.18 billion won (US$13.38 million) on-year. Meanwhile, its sales and net profit each increased 0.9 percent and 8,920.2% to 1.62 trillion won and 16.57 billion won, respectively.

[DISCLOSURE] Unichem (011330) has exercised its preemptive rights for capital increase and the share price has been readjusted from 4,622 won (US$4.07) to 4,610 won, the company announced on July 22.

[DISCLOSURE] Hanjung NCS (107640) announced on July 22 that is has earned a patent for its integrated reformer for fuel cell system.

[DISCLOSURE] S-Oil (010950) announced on July 21 that it will pay interim dividends on both preferred and common shares. The dividend per share will be 500 won (US$ 0.44), with the total amount reaching 58.20 billion won.

[THE INVESTOR] South Korean shares started lower on July 22 following overnight losses on Wall Street.The benchmark Korea Composite Stock Price Index shed 3.91 points, or 0.19 percent, to 2,008.31 in the first 15 minutes of trading.Most large caps traded mixed with market kingpin Samsung Electronics falling 1.17 percent.Top automaker Hyundai Motor remained flat, and top steelmaker POSCO rose 2.32 percent.Naver, the operator of the country’s top Internet portal, advanced 0.43 percent.The Dow Jone

[THE INVESTOR] KOSDAQ opened higher at 708.89, up 0.77 points on July 22.

[THE INVESTOR] KOSPI opened lower at 2,005.37, down 6.85 points on July 22.

[THE INVESTOR] The Japanese yen opened at 1,076.14 won on July 22, up 14.44 won from the previous closing of 1,061.70 won.

[THE INVESTOR] The euro opened at 1,255.37 won on July 22, up 1.76 won from the previous closing of 1,253.61 won.

[THE INVESTOR] The US dollar opened higher at 1,137.5 won on July 22, up 1.6 won from the previous closing of 1,135.9 won.

[DISCLOSURE] GS Engineering & Construction (006360) will invest 35.95 billion won (US$31.64 million) in the Seoul-Munsan highway from Aug. 24, it said on July 21.

[DISCLOSURE] POSCO Daewoo (047050) reported on July 21 that its second quarter profit declined 5.25 percent to 82.23 billion won (US$72.34 million). The firm added that its revenue also fell 18.19 percent to 3.85 trillion won, while net profit jumped 10.07 percent to 53.82 billion won.

Shinsegae Food (031440) announced on July 21 that its operating profit in the second quarter jumped 56.4 percent to 8.04 billion won (US$7.07 million) on-year. Its revenue and net profit also increased 18.1 percent and 60.7 percent to 260.70 billion won and 6.43 billion won, respectively.

[DISCLOSURE] Hyundai Merchant Marine (011200) has signed an agreement with CRACRV to normalize the firm’s management, it said on July 21. The agreement expires June 30, 2021, but the exact length of the deal is to be decided by the Korea bond council.

[THE INVESTOR] The Japanese yen ended at 1,061.70 won on July 21, down 12.95 won from the previous closing of 1,074.65 won.