[THE INVESTOR] Lotte Homeshopping has filed a lawsuit against the ICT Ministry seeking an injunction on the order to suspend its prime-time broadcasting for six months, it said Aug. 5. Following the court’s dismissal of an arrest warrant for its CEO Kang Hyun-gu, the Lotte affiliate filed the suit after getting approval at an extraordinary shareholders meeting in June.Lotte Homeshopping headquarters in Seoul. The InvestorThe ministry has suspended the major shopping channel from airing programs

[THE INVESTOR] CJ CheilJedang reported that its operating profit in the second quarter rose 9.8 percent to 210.6 billion won (US$189.58 million) from the same period last year, in a regulatory filing Aug. 5. Sales came in at 3.61 trillion won, up 14.05 percent and net profit increased 15.39 percent to 71.91 billion won on-year. Excluding those of subsidiary CJ Korea Express, the food and bio conglomerate recorded 2.21 trillion won revenue, up 12.12 percent, while its operating profit slipped 0.4

[DISCLOSURE] Lotte Hi-Mart (071840) reported on Aug. 5 that its second quarter operating profit decreased 3.18 percent to 40.83 billion won (US$36.77 million) from the same period last year. Sales slipped 1.81 percent to 950.65 billion won and net profit edged up 0.45 percent to 28.79 billion won on-year.

[DISCLOSURE] Lotte Shopping (023530) reported on Aug. 5 that its second quarter operating profit decreased 15.4 percent to 171.03 billion won (US$154.03 million) from the same period last year. Sales stood at 7.23 trillion won and net profit decreased 14.0 percent to 82.31 billion won on-year.

[DISCLOSURE] Korea Exchange announced on Aug. 5 that ITCEN (124500) stocks will trade ex-rights due to bonus issues. The ex-rights base price is 8,300 won (US$7.47).

[THE INVESTOR] The Ministry of Employment and Labor announced on Aug. 5 that it has finalized the minimum wage for next year at 6,470 won (US$5.83) per hour, up 7.3 percent from 2016. Calculated on a standard of eight working hours a day, the daily minimum wage rate is 51,760 won and on a 40-hour-a-week basis (including one paid day off), 209 working hours a month, the monthly rate comes to 1,352,230 won, the announcement added, further clarifying the rights and duty for employees and employers.

[THE INVESTOR] China’s opposition to South Korea’s deployment of THAAD appears to be on the verge of spilling over into local culture and entertainment sectors that account for a large part of exports.“Talks on collaboration for any kind of content-making with China have come to a full stop,” an industry source said on the condition of anonymity. On Aug. 2, China’s state-owned CCTV reported that the Chinese State Administration of Press, Publication, Radio, Film and Television has requested majo

[DISCLOSURE] CJ CheilJedang (097950) reported on Aug. 5 that its second quarter operating profit rose 9.82 percent to 210.6 billion won (US$189.58 million) from the same period last year. Sales were up 14.05 percent at 3.61 trillion won and net profit increased 15.39 percent to 71.91 billion won on-year.

[THE INVESTOR] International hotels and resort chain Starwood will open four more hotels in South Korea by 2019 including one in Jejudo, said Nichlas Maratos, vice president of sales for Starwood Hotels & Resorts Asia Pacific at Starwood Expo 2016 held in Seoul on Aug. 4. The chain is already operating five of its hotel brands -- W, Sheraton, Westin, Aloft and Four Points -- here and will introduce new brands to Seoul, he said.  W Singapore Sentosa Cove, a Starwood hotel member.Aloft Myeongdong,

[THE INVESTOR] South Korean duty-free stores may be the first to be hit by the backlash from Korea’s decision to deploy an advanced US anti-missile system. Although Beijing has not yet made any official move -- having expressed its opposition to the deployment of Terminal High Altitude Area Defense system -- the signs are not very positive. Shinsegae Duty Free Store in downtown Seoul. The Investor / Lee Sang-subThe number of Chinese tourists who have booked their trips through tour agencies that

[DISCLOSURE] Hyundai Corp. (011760) announced on Aug. 4 that Korean Commercial Arbitration Board has determined it should pay US$38.03 million with 6 percent annual interest rate to its affiliate Hyundai Heavy Industries (009540) that filed to claim for goods. It will reclaim the money from its Russian distributor and pay the compensation. The arbitration cost will be paid 50:50.

[DISCLOSURE] Hyundai Corp. (011760) announced on Aug. 4 that Korean Commercial Arbitration Board has determined it should pay US$38.03 million with 6 percent annual interest rate to its affiliate Hyundai Heavy Industries (009540) that filed to claim for goods. 　It will reclaim the money from its Russian distributor and pay the compensation. The arbitration cost will be paid 50:50.

[THE INVESTOR] Golfwear brand Castelbajac has succeeded in attracting 45 billion won (US$40.27 million) investment via convertible preferred stocks from JKL Partners and Shinhan BNP Paribas Asset Management, it announced Aug. 4.The company was spun off from apparel group Hyungji that acquired domestic licensing from the French designer Jean Castelbajac in 2014 and pan-Asian licensing in 2015. Hyungji launched the brand known for vivid colors and bold designs as a golfwear line last year and open

[DISCLOSURE] Melfas (096640) announced on Aug. 4 that it will invest US$10 million in an analog semiconductor developer in Jiangxi, China to enhance competitiveness in Chinese market and to profit from commercializing new IoT products. This amounts to 11.76 percent of its equity capital.

[DISCLOSURE] CJ O’Shopping (035760) announced on Aug. 4 that its operating profit in the second quarter increased 19.1 percent to 54.36 billion won (US$48.64 million) from the same period last year. Sales decreased 5.8 percent to 554.87 billion won and net profit slipped 0.2 percent to 31.09 billion won.

[THE INVESTOR] Green Cross announced on Aug. 4 that the efficacy and safety of its osteoarthritis treatment Shinbaro Capsules have been confirmed in phase 4 of clinical trials.The anti-arthritis agent is manufactured from natural herbal extracts and was approved by the Korean Ministry of Food and Drug Safety in 2011. Phase 4 trials are conducted for additional data after receiving approval. The pharmaceutical company reported in a thesis published in the latest issue of Journal of Ethnopharmacol

[DISCLOSURE] BGF Retail (027410) announced on Aug. 4 that its operating profit in the second quarter increased 22.1 percent to 62.7 billion won (US$56.11 million) from the same period last year. Sales increased 14.6 percent to 1.27 trillion won and net profit rose 23.9 percent to 52.4 billion won on-year.

[THE INVESTOR] The leading retailers in Korea are seeking to cash in on the global popularity of hallyu by sealing strategic tie-ups with entertainment companies to sell exclusive merchandise. Products bearing the images of popular K-pop artists and actors have largely been available only online. However, the success of a small store at Lotte Department Store’s Young Plaza in Myeong-dong, Seoul, appears to have caught the fancy of the retailer. The store dedicated to K-pop stars saw sales grow f

[DISCLOSURE] Hanwha Techwin (012450) announced on Aug. 4 that its operating profit in the second quarter turned to black at 44.49 billion won (US$40.26 million) from the same period last year. Sales increased 35.14 percent to 820.66 billion won and net profit also turned to black at 31.35 billion won.

[THE INVESTOR] POSCO Daewoo announced on Aug. 4 that it has signed a memorandum of agreement with Indonesia’s largest shipyard PT PAL to supply materials for shipbuilding worth US$150 million.The Korean trading company will provide materials, including vessel engines, to the state-owned shipyard which will build 10 patrol ships and one combat support ship for delivery to the Indonesian Navy and ministries.  POSCO Daewoo“We have been recognized for our capabilities demonstrated by previous projec