[THE INVESTOR] Hanwha Q Cells, Hanwha Group’s NASDAQ-listed affiliate, reported Aug. 24 that its second-quarter operating profit came to US$84.5 million, skyrocketing 8,450 percent from the same period last year, and marking a 49 percent surge from the previous quarter. Its revenue more than doubled from 2015’s US$338 million to US$638 million, which was also a 14 percent rise from the previous quarter.  Maywood Solar Farm constructed by Hanwha Q Cells in Indianapolis, Indiana.In April 2015, the

[THE INVESTOR] Daewoo Shipbuilding & Marine Engineering has delivered a drillship to Transocean in accordance with a 2013 order, it announced Aug. 24.It will collect 150 billion won (US$133.7 million) upon delivery, a relief for the cash strapped South Korean shipbuilder.The ultra-deep-water drillship, the largest model built by Daewoo, is the tenth newly built drillship to be supplied to Transocean, the largest offshore drilling contractor. The US company based in Switzerland is a major client

[DISCLOSURE] Protec (053610) announced on Aug. 24 that it has exercised preemptive rights and 245,188 shares, worth 2 billion won (US$1.78 million), will be listed on Sept. 9.(theinvestor@heraldcorp.com)

[DISCLOSURE] IE (023430), formerly Integrated Energy, announced on Aug. 23 that its largest shareholder has changed to Above Joy from New Concept Capital following a capital increase with third-party allotment. Above Joy is a special purpose corporation based in Virgin Island with impaired capital and owns 23.17 percent stake (46,131,497 shares) of the company. (theinvestor@heraldcorp.com)

[THE INVESTOR] SKC, the high-tech chemical unit of SK Group, said on Aug. 23 it will participate in its Chinese subsidiary SKC Jiangsu High Tech Plastics’ 49 billion won (US$43.6 million) capital increase.The Chinese polyester film manufacturer is raising capital to finance 8.2 billion won capital spending and 40.75 billion won operation funds. “The decision is to improve the subsidiary’s financial structure and to invest in new facilities,” explained the petrochemical company. SKC established a

[DISCLOSURE] SM Korea Line Corporation (005880) announced on Aug. 23 that it will acquire 5,010,606 shares of Samsun Logix at 9.34 billion won (US$8.35 million). The acquisition date is Sept. 30 and it will own 73.8 percent stake of the shipping and trading company. (theinvestor@heraldcorp.com)

[DISCLOSURE] Iljin Power Energy (094820) announced on Aug. 23 that it has received a 4.08 billion won (US$3.65 million) order from Korea Southern Power Corporation for an overhaul at Hadong Thermal Power Site. This amounts to 3.45 percent of its revenue last year. (theinvestor@heraldcorp.com)

[THE INVESTOR] Dong-A Socio Holdings announced Aug. 23 that it has decided on a 177.2 billion won (US$158.4 million) capital increase to take over its affiliate ST Pharm, an active pharmaceuticals ingredient company. In a tender offer to take over the company, it will purchase 3.3 million stocks from ST Pharm stakeholders and in turn issue new stocks of the holding company for them. A total of 989,887 shares will be issued at 178,989 won per share. By Hwang You-mee (glamazon@heraldcorp.com)

[DISCLOSURE] Cristal New Material (900250) reported on Aug. 23 that its operating profit in the first half jumped 35.3 percent to 14.8 billion won (US$13.23 million) from the same period last year. Sales increased 16 percent to 31.1 billion won and net profit hiked 32.8 percent to 12.6 billion won on-year. Revenue from synthetic mica flakes rose 36 percent to 6.7 billion contributing to the overall sales growth. The company is expanding the manufacturing facility for the product and is forecasti

[THE INVESTOR] The National Tax Service will collect an additional 3.4 billion won (US$3.04 million) in taxes from YG Entertainment, closing a three-month regular tax audit, according to media reports Aug. 23. Tax authorities have imposed penalties on corporate tax evasion found in the process of the leading entertainment company’s business expansion and establishment of overseas subsidiaries. The company has already paid in full, according to a company official.  Big BangIt had been eight years

[THE INVESTOR] South Korean defense company LIG Nex1 announced on Aug. 23 it has received Maturity Level 5 from Capability Maturity Model Integration Institute, a US ratings agency. The agency is a wholly owned subsidiary of Carnegie Melon University that administers the model developed by the school’s Software Engineering Institute upon the request of the US Department of Defense. LIG Nex1 has received Level 5 ranking, the highest level in recognition of research and development capabilities, a

[THE INVESTOR] SK Chemical announced on Aug. 23 that its SKY Cell Flu Quadrivalent, the first cell culture vaccine that covers four strains of influenza viruses, is now available for vaccination in South Korea. It is the first quadrivalent that covers two influenza A strains (H1N1, H3N2) and two influenza B strains (Yamagata, Victoria) to be manufactured using aseptic culture medium instead of eggs used in the traditional method, allowing the process to be free from antibiotics. The flu vaccine

[THE INVESTOR] A sweltering heat wave has stifled South Korea this summer, but that has not helped the country’s domestic beer industry. The second-quarter beer sales of Hite Jinro, one of the leading South Korean distillers, fell 8.6 percent on-year, dragging down total sales to 200.6 billion won (US$179.3 million), according to Samsung Securities. The operating profit came in at 27.6 billion won, down 1.7 percent from the same period last year, well below market expectations. The company remai

[THE INVESTOR] CJ CheilJedang announced Aug. 23 that it has turned in a binding letter of intent with Metabolix for the sale of the US bio venture company’s biopolymer intellectual property and laboratory equipment for US$10 million. Under the agreement to be fully implemented by mid-September, CJ will secure a research and development lab in Boston, Massachusetts, further bolstering its competitiveness in the environmentally friendly bio industry. The South Korean conglomerate will focus on PHA

[DISCLOSURE] Samsung C&T (028260) announced on Aug. 22 that it will guarantee a 785.21 billion won (US$697.96 million) debt of its affiliate SW Development. This amounts to 7.7 percent of its equity capital. (theinvestor@heraldcorp.com)

[DISCLOSURE] DI (003160) announced on Aug. 22 that it will guarantee an 8.89 billion won (US$7.90 million) debt of its affiliate SW Development. This amounts to 7.7 percent of its equity capital. (theinvestor@heraldcorp.com)

[DISCLOSURE] JW Pharmaceutical (001060) announced on Aug. 22 that it will issue redeemable convertible preferred stock worth 111.9 billion won (US$99.47 million) and offer to its largest stakeholder JW Holdings and four others, to raise capital. JW Holdings will acquire stocks worth 68.9 billion won and increase its stake to 43.88 percent from 41.25 percent. (theinvestor@heraldcorp.com)

[THE INVESTOR] CHA Biotech announced Aug. 22 that its CB-AC-02, an Alzheimer’s disease treatment based on stem cells, will initiate phase 1 and phase 2A of clinical trials simultaneously.Made of placenta-derived mesenchymal stem cells, the intravenous injection will be tested for safety and efficacy. When commercialized, it can be cryopreserved and supplied off the shelf, decreasing cost compared to existing treatments cultured to order, according to the company. The drug candidate has been foun

[THE INVESTOR] A 40 billion won (US$35.6 million) fund specializing in virtual and augmented reality technologies is to be set up, the Ministry of Science, ICT and Future Planning announced Aug. 21.The fund is part of the South Korean government’s nine science and technology projects, and the government will underwrite 60 percent of the fund. Half of the fund will be invested this year and the other half next year. Journalists wear Samsung Electronics' Galaxy VR headset at the Galaxy S7 launch e

[DISCLOSURE] Information security solution provider Secuve (131090) announced on Aug. 22 that it has obtained a patent related to an additional authentication administration system and method using an exclusive run-time module. (theinvestor@heraldcorp.com)