[THE INVESTOR] Samsung Bioepis has sought approval from the Ministry of Food and Drug Safety for its Herceptin biosimilar SB3, according to news reports on Sept. 19.SB3’s reference drug Herceptin is the sixth most-prescribed breast cancer medicine that has sold over US$6.8 billion worldwide.Before filing its approval application on Sept. 13, it also sought confirmation from the Intellectual Property Trial and Appeal Board that it was not infringing the patent of the original drug. The decision i

[THE INVESTOR] SK Networks is in the final stage of talks with Hyundai Department Store to hand over its fashion division for a reported 300 billion won (US$267.76 million), according to news reports on Sept. 20. SK Networks is part of SK Group that has its roots in Sunkyung Textiles, and its fashion division is the fifth largest by sales volume. It posted 565.2 billion won in revenue last year. In addition to its school uniforms unit, the company has a dozen fashion brands in the stable from es

[THE INVESTOR]  Kitchen appliance manufacturer Zaigle will enter Hong Kong by promoting is flagship product Zaigle Wellbeing, it announced on Sept. 19.The company best known for household grills with infrared rays that claim to simultaneously cook from top and bottom without the usual smoke, smell and splatter, will distribute products worth US$60,000 at over 30 home appliances outlets across Hong Kong. It aims to expand its network to online malls in Hong Kong along with distribution in Singapo

[THE INVESTOR] Huayi Brothers announced on Sept. 19 that it will set up Huayi Investment, a venture capital firm that specializes in investment in cultural contents by end-September.The entertainment company will create a 50 billion won (US$44.64 million) fund that focuses on contents from South Korea and China within this year, and will invest in projects such as movies, dramas and web comics, and in media and contents-related startups. “We aim to build a virtuous cycle within the company by in

[THE INVESTOR] ST Pharm announced on Sept. 19 that it has signed a 152 billion won (US$135.50 million) contract with Gilead Sciences Ireland to supply anti-viral active pharmaceutical ingredient for hepatitis C treatment.ST Pharm has been providing the ingredient to Gilead Sciences -- a US-based pharmaceutical company -- that manufactures Sovaldi and Harvoni, treatments for hepatitis C. The contract amounts to 110 percent of the South Korean company’s revenue last year and the contract lasts fro

[THE INVESTOR]  DSEC, a subsidiary of Daewoo Shipbuilding & Marine Engineering, signed a US$120 million contract with US-based National Steel and Shipbuilding Co. on Sept. 16 in San Diego, it announced on Sept. 19. The South Korean company will provide package of design and materials to build two ConRo vessels, a hybrid of roll-on/roll-off and a container ship, that can carry both vehicles and containers. DSEC will design the ships, 265 meter long and 35 meter wide, large enough to carry 525 car

[THE INVESTOR] Huons Global announced on Sept. 19 that it has acquired shares of its subsidiaries and affiliates, including Huons and Humedix, worth 8 billion won (US$7.13 million) to demonstrate its management accountability and earn shareholders’ trust. Huons Global split off from pharmaceutical company Huons in May and is its holding company. By Hwang You-mee (glamazon@heraldcorp.com)

[THE INVESTOR]  LG Household & Health Care is fine-tuning its plan for an industrial complex in Cheonan, South Chungcheong Province, according to the city government on Sept. 14.The beauty and personal care behemoth has completed a lengthy process of compensation for the 390,000 square meter site dedicated to cosmetics, a first in the country, and is seeking to initiate construction within this year. In addition to a “smart” factory featuring IoT technologies, the complex will house a garden to

[THE INVESTOR] Genexine announced the preliminary report of its phase 2 clinical trial for GX-H9, its longer half-life human growth hormone, on Sept. 12 at the European Society for Pediatric Endocrinology 2016 in Paris.The South Korean biopharmaceutical company released a mid-development report at the annual meeting saying that the bimonthly dose of its hormone has been found safe and effective in the multinational clinical trials on children with growth hormone deficiency. The final results fro

[THE INVESTOR] Samsung Bioepis announced on Sept. 12 that its biosimilar Brenzys has been granted approval for sale in Canada.Its reference drug is Enbrel (etanercept), an autoimmune disease treatment developed by Amgen and sold by Pfizer that has raked in 10 trillion won (US$9.02 billion) worldwide. The knockoff version has won approval from South Korean Ministry of Food and Drug Safety in September 2015; in Europe in January under trade name Benepali; and in Australia in July.It will be sold b

[THE INVESTOR] POSCO Daewoo announced on Sept. 13 that it has signed a memorandum of understanding with cosmetics company Caolion to jointly expand to overseas markets. The trading arm of South Korean steelmaker Posco will provide sales channels worldwide from Europe -- including the UK, Germany and Poland -- and Asia -- including China and Thailand -- to Central and South America.  A signing ceremony between POSCO Daewoo and Caolion. POSCO Daewoo“Through our local network across the world, we w

[THE INVESTOR] Korea Gas has signed a memorandum of understanding with Ceara state government of Brazil on Sept. 9 for a project to develop a liquefied natural gas terminal, it announced on Sept. 13.The state-owned company will form a consortium with a civil partner and transform the current floating storage regasification unit at Pecem port to an onshore unit. Based on this project, the gas company is seeking to develop a “total LNG business solution model” that offers a package deal from impor

[THE INVESTOR] Cha Biotech announced on Sept. 12 that its subsidiary Cha Healthcare (formerly CHO) has several projects in development to take over or establish medical facilities such as a women’s hospital in the US, Japan and Taiwan, in a statement released in response to Korea Exchange’s inquiry. “We have come down to a single strong Chinese candidate to form a partnership to expand into China and Hong Kong, but nothing has been determined yet,” added the Cha Biotech, an affiliate of Cha Medi

[THE INVESTOR] Kyungnam Energy’s majority shareholders have decided to sell their combined 96.5 percent stake, according to news reports on Sept. 13. Sangwon Comtru and Anchor Equity Partners are seeking to appoint a lead manager for the sale of the supplier of liquefied natural gas and petroleum gas based in South Gyeongsang Province. It has posted sales of 353.3 billion won (US$318.20 million) and operating profit of 20.2 billion won in the first half of 2016. The company delisted in May. Sang

[THE INVESTOR] Kanglim announced on Sept. 12 that its consortium with subsidiary Ssangbangwool has been selected as the preferred bidder to acquire Nanos, an optical filter manufacturer. The special-purpose vehicles company and its innerwear maker subsidiary outbid six other competitors for Nanos that has the largest capacity for filters. The firm, established by former Samsung Electro-Mechanics employees, went under court receivership in April after losing its major client Samsung Electronics a

[THE INVESTOR] Dasan Networks announced on Sept. 12 that it has finalized the merger of its wholly owned subsidiary Dasan Network Solutions with US-based Zhone Technologies.Implementing the agreement signed in April, Zhone Technologies has acquired Dasan Network Solutions from its parent company and in turn the South Korean company took over newly issued common stocks of the combined company named DASAN Zhone Solutions, owning 58 percent stake. Two co-CEOs, appointed by each company, will head t

[THE INVESTOR]  Huons announced on Sept. 12 that it has taken over Biotopia, a bio-agrochemical enterprise that specializes in feed additives. The company of 25 employees recorded 2.7 billion won (US$2.43 million) revenue last year. With an emphasis on research and development, Biotopia also retains technology to reduce odor from livestock wastewater. Huons will expand business from its medicine, food and cosmetics to agriculture and livestock.By Hwang You-mee (glamazon@heraldcorp.com)

[THE INVESTOR] Hyundai Heavy Industries announced on Sept. 11 that it has signed a 10-year partnership with CNH Industrial to provide mini excavators.CNHI will sell Hyundai’s mini excavators under its own brands CASE and New Holland through its 1,200 dealers worldwide. Hyundai will manufacture the original equipment, supplying 5 to 6 ton models as fully disassembled items and 1 to 4 ton models in completely knocked down format. The two companies will also jointly develop new models. The global c

[THE INVESTOR] Korea Electric Power Corp. is weighing joining the NuGen Consortium for a 10 billion pounds (US$13.27 billion) nuclear power plant in UK, according to the Financial Times on Sept. 12.The state-owned firm has resumed talks to join existing owners Toshiba of Japan and Engie of France to build a 3.8 gigawatt new plant at Moorside on the Cumbrian coast, which is expected to provide power to 6 million households. NuGen and KEPCO held negotiations in 2013 but failed to reach an agreemen

[DISCLOSURE]  Asiana Airlines (020560) announced on Sept. 9 that it has decided on a 166.2 billion won (US$149.69 million) capital increase with allotment to shareholders, to improve financial structure. The expected issue price is 5,000 own per share. (theinvestor@heraldcorp.com)