[THE INVESTOR] Amid the growing popularity of South Korean beauty products pioneered by behemoths AmorePacific and LG Household & Health Care, more companies are expanding overseas.Instead of launching and campaigning for their own brands, though, they are targeting overseas market as original equipment manufacturers or as original development manufacturers. Claires Korea, which raked in 180 billion won (US$162.87 million) revenue boosted by its best-selling item Guerisson horse oil cream, annou

[THE INVESTOR] Korea Air announced on Sept. 22 that it has signed a memorandum of association with US Boeing to develop 500 MD unmanned helicopters at its Seoul headquarters on Sept. 21.The US aircraft behemoth will provide technical support to Korean Air so that it can modify and arm the 500MD helicopters, which it has succeeded in converting to be operable unmanned since 2014.Korea Air Chairman Cho Yang-ho (left) and Boeing Chairman Dennis Muilenburg.  Korean Air  The 500 MD model was made by

[THE INVESTOR] Singaporean reinsurance company Asia Capital Re announced on Sept. 22 that it has been granted approval to operate a South Korean branch from Financial Services Commission. The biggest reinsurance firm in Singapore was established in 2006 and runs branches and offices in Hong Kong, Dubai, Japan, Vietnam and India. It was ranked among the world’s top 50 reinsurers.Lee Jun-su, former head of Samsung Fire and Marine Insurance’s reinsurance team, has been named to run the South Korean

[THE INVESTOR] Englewood Lab plans to list on secondary bourse KOSDAQ and build a manufacturing hub in South Korea, said CEO David Chung at a press conference in Seoul on Sept. 22.The US cosmetics ingredient manufacturer is poised to go public in October. Englewood Lab's product packaging line.Established in 2004, the ODM company has provided skincare products to over 60 beauty brands including Elizabeth Arden, Clinique, Kiehl’s and L’Oreal. It posted 59.6 billion won (US$54.02 million) revenue

[THE INVESTOR] Green Source International of China plans to be listed on KOSDAQ early 2017, and will apply for preliminary investigation in November, according to news reports on Sept. 22. It will join another Chinese bio company Triplex International Biosciences that hopes to go public in the first quarter of 2017. Established in 1998, Green Source International is headquartered in Hong Kong, and shifted its focus from fish food manufacturing to health supplement business based on jewel orchid,

[THE INVESTOR] LS Networks has decided to shut down all its fashion businesses except for Prospecs, according to news reports on Sept. 21. The company has five more brands including Skechers, Mont Bell and Peak Performance, and its performance peaked in 2012 with a 948 billion won (US$857.92 million) turnover. But since 2013 with a 5 billion won operating loss, it has failed to return to black, and its net loss snowballed to 68.3 billion won in 2015.K-pop group Sista poses with Skechers sneakers

[THE INVESTOR] GS Home Shopping 's subsidiary A plus B has attracted 3 billion won (US$2.71 million) investment from Altos Ventures, a US-based venture capital firm.Altos Ventures, headed by Korean-American Han Kim, acquired 151,209 redeemable convertible preference shares (20.55 percent stake) issued by the company that operates online shopping website 29cm, according to news reports on Sept. 21. It became the second largest stakeholder after the parent company whose stake decreased to 76.94 pe

[DISCLOSURE] Korean Air (003490) announced on Sept. 22 that it will issue contingent convertible bonds worth US$300 million. The maturity date is 30 years after the issuing date. The exact date and interest rate will be confirmed later in accordance with the market situation.(theinvestor@heraldcorp.com)

[THE INVESTOR] LS Cable & System announced on Sept. 21 that its Vietnamese branch LS Vina Cable and System has signed a US$15 million contract with iMarket Korea to provide electric cable. The cables will be used in wiring a mobile phone module manufacturing factory being built by Samsung Display in Bac Ninh, north of Hanoi.LS Vina is dominating the cable market in Vietnam with 30 percent share and is the only company capable of manufacturing high voltage cables. It is one of the two Vietnamese

[THE INVESTOR] Cos9, an OEM and ODM for cosmetics companies, announced on Sept. 21 that it aims to become one of the top three cosmetics manufacturers, along with Cosmax and Kolmar Korea, by 2020. Cos9 is a wholly owned subsidiary of Claires Korea, whose best-selling cream from horse oil-based Guerisson range sold more than 30 million worldwide since its introduction in 2014. Claires Korea posted 180 billion won (US$161.22 million) revenue last year. On Sept. 21, Cos9 unveiled a newly completed

[THE INVESTOR] ATGen announced on Sept. 21 that it has struck a strategic partnership with Swedish distributor CellMark to expand in the European market. Through the international marketing network of its partner, ATGen will roll out its NK Vue Kit, which helps diagnosis of cancer and autoimmune diseases by gauging the activity of NK cells, a type of a white blood cell that composes innate immune system, with a small amount of blood. CellMark was established in 1984 in Sweden and has grown to op

[THE INVESTOR] KPM Tech announced on Sept. 21 that US-based Emmaus Life Sciences will invest US$13 million to acquire 8.21 percent stake in the company, and become the second largest shareholder. The two companies signed a memorandum of understanding to jointly pursue business in the pharmaceutical industry and invest mutually on Sept. 12. And on the same day, KPM Tech, also known as Korea Plating Materials Technology, announced that it has decided to acquire 11.29 percent stake (approximately 3

[THE INVESTOR] Daewoong Pharmaceutical announced on Sept. 21 that its botulinum toxin Nabota has been granted approval in Mexico and India.The South Korean pharmaceutical company aims to launch the formula in both countries by 2017. It will strengthen its presence in South America where its neurotoxin, commonly known as Botox injected for cosmetological applications, is already sold in six countries including Panama and Guatemala. Nabota was introduced in South Korea in 2014 and the company has

[THE INVESTOR] Hyundai Department Store announced on Sept. 21 that it has been selected as the preferred bidder to operate a commercial facility in Parc1 complex to be built in Yeouido, Seoul. The retail giant will sign a 20-year contract with the complex’s developer Y22 next week and build a department store within the site -- 46,200 square meter wide with a 628,254 square meter gross area -- for 30 billion won (US$26.85 million) annual lease. A rendering image of Parc1 complexIt will be the 16

[THE INVESTOR] Triplex International Biosciences, a medical diagnostic reagents and kits maker based in China, is set to become the first foreign bio company to be listed on secondary bourse KOSDAQ, according to news reports on Sept. 20.The biomedical company is planning to submit an application for preliminary investigation at the Korea Exchange by the end of this year, aiming to be listed in the first quarter of 2017.Established in 2004 in Fujian, Triplex posted over 60 billion won (US$53.69 m

[THE INVESTOR] KEB Hana Bank announced on Sept. 20 that it has signed a memorandum of understanding with China Everbright Bank for comprehensive cooperation.KEB, with its overseas network spread in 24 countries, will provide support for the Chinese bank’s customers including trade finance and overseas remittance. China Everbright Bank, in turn, will aid the Chinese operations of KEB, which has been selected as one of the two clearing houses for won-yuan direct trading in the country. The Chinese

[DISCLOSURE] Celltrion (068270) announced on Sept. 20 that it has signed a 134.9 billion won (US$120.40 million) contract with its affiliate Celltrion Healthcare to provide biosimilar antibody Remsima. This amounts to 22.36 percent of its revenue last year and the contract expires on Sept. 30.(theinvestor@heraldcorp.com)

[THE INVESTOR] GE Power has won orders in the Asia-Pacific region that amount to US$800 million in the last three months, President and CEO Steve Bolze said at the 2016 Power-Gen Asia conference in South Korea on Sept. 20.The GE division’s most recent orders include a US$140 million contract from Korea Midland Power to build a new 250-megawatt combined cycle power facility for a power plant in Jejudo. This will be the first use of heat recovery steam generator technology acquired through its mer

[THE INVESTOR] K-pop sensation Big Bang’s T.O.P will curate a contemporary art auction to be held by Sotheby’s Hong Kong on Oct. 3.“T.O.P has selected 39 artworks, worth HK$90 million (US$11.60 million), as the guest curator,” said Pattie Wong, chairwoman of Sotheby’s Asia at a press conference in Seoul on Sept. 19. His taste as a young collector shows the changes in international trends, she added. For the special auction titled “#TTTOP”, the 28-year-old singer/actor has chosen pieces of establ

[THE INVESTOR] Daewoo Shipbuilding and Marine Engineering ’s pending dues of 1 trillion won (US$8.93 billion) from Angolan state-run oil company Sonangol may be cleared only next month as the latter’s negotiation with global financial institutions over credit line maintenance has been postponed until end-September, according to news reports on Sept. 19.This pushes the delivery date of DSME’s two drill ships scheduled for Sept. 30 even further, upon which the cash strapped South Korean shipbuilde