[THE INVESTOR] Woori Bank reported on Oct. 19 that its net profit in the third quarter rose 15.9 percent to 355.6 billion won (US$315.95 million) from the same period last year.Its accumulative net profit this year hiked 31.6 percent on-year to 1.16 trillion won, surpassing that of the whole year 2015.The interest income increased while bad account cost decreased, leading to a better performance, said the bank. Net interest income from January to September reached 3.75 trillion won, a 6.5 percen

[THE INVESTOR] CJ CheilJedang’s stock price will rise thanks to the growth in processed foods and bio divisions, according to Korea Investment and Securities on Oct. 19, maintaining a “buy” recommendation and the target price of 500,000 won (US$444.25).The company’s third-quarter turnover will rise 11.1 percent on-year to 3.74 trillion won and its operating profit 9.8 percent to 244.3 billion won on a consolidated basis, forecast Lee Gyeong-ju, an analyst at the securities firm.Its performance w

[THE INVESTOR] KB Asset Management announced on Oct. 18 that it will jointly invest US$30 million in senior loans to Canadian mine developers with three homegrown institutional investors.KB Asset Management will create the fund and its Canadian counterpart Sprott, with a specialty in natural resources investing, will manage the portfolio.This is the first time a South Korean investor is financing overseas mining.The investment period is five years and the expected annual rate of return is 8 perc

[THE INVESTOR] South Korea’s National Agricultural Cooperative Federation, or NongHyup, announced on Oct. 18 that it has signed a memorandum of understanding with French financial group Credit Agricole.This is the second time they are renewing their agreement for a comprehensive partnership, first signed in 2005, to further strengthen cooperation in a range of areas from agriculture to insurance and investment management. They will also seek new ways to work together in agro-finance and provide

[THE INVESTOR] A total of 14 affiliates of three conglomerates -- Booyoung, Hyundai and Hyundai Department Stores -- have neglected to post regulatory filings, according to Fair Trade Commission on Oct. 18.The independent body found 211 cases of negligence. Seven affiliates of Booyoung(Chairman Lee Joong-keun), a construction and housing rental company, accounted for 203 cases including 192 cases of intra-affiliate monetary transaction that were not reported despite being passed by the board of

[DISCLOSURE] LG Chem (051910) reported on Oct. 18 that its operating profit in the third quarter fell 15.6 percent to 460.91 billion won (US$407.10 million) from the same period last year. Its revenue decreased 2.4 percent to 5.54 trillion won and net profit 12.7 percent to 298.88 billion won on-year on a consolidated basis.(theinvestor@heraldcorp.com)

[THE INVESTOR] Paradise Group (034230) will be burdened by the costs for building a resort in Yeongjongdo that is slated to open in 2017, said Shinhan Investment on Oct. 18. The securities firm maintained a “buy” recommendation but lowered the target price to 18,000 won (US$15.90) from 21,000 won. “The third-quarter revenue will rise 22.9 percent on-year to 175.5 billion won and the operating profit will be up 46.4 percent to 16.8 billion won,” forecast Seong Jun-won, an analyst at Shinhan. The

[THE INVESTOR] Korea Investment Securities have joined hands with South Korean institutional investors to take over International Business Campus building in Frankfurt, Germany, according to Maeil Business Newspaper on Oct. 18. It is currently in talks with local investment and asset management company German Estate Group for acquisition of the 500 billion won (US$441.62 million) office complex. About 200 billion will be funded by investors and the rest will be financed by loans from local finan

[THE INVESTOR] Hanwha Life Insurance has acquired 4.1 percent stake in Lending Club, a US peer-to-peer lending company for 75 billion won (US$66.24 million), it reported on Oct. 17.As the largest company in the business, Lending Club has disbursed US$20.6 billion loans by June 2016, and its total market value, once as high as 10 trillion won following its IPO in 2014, is currently 2.4 trillion won. The insurance arm of Hanwha Group has a strategic partnership with Lending Club and “thought that

[DISCLOSURE] LS Networks (000680) announced on Oct. 17 that it will spin-off Mont Bell brand and establish itself as a new company to improve management efficiency and strengthen business expertise. The spun-off firm will be privately held and acquire the entire stocks issued for the new company which will continue to be listed. The due date for the spin-off is Dec. 1.(theinvestor@heraldcorp.com)

[THE INVESTOR] Hanwha Group announced on Oct. 17 that it will reorganize its four defense affiliates to strengthen competitiveness and improve efficiency by 2017. Hanwha will take over the navigation and laser weapon businesses from Hanwha Defense and Hanwha System, respectively, and combine them with its guided weapon ammunition to grow into a precision strike system specialist.The company expects the laser weapons business to create synergy with Hanwha System’s surveillance and tracking device

[THE INVESTOR] The Korean Teachers’ Credit Union has decided to invest US$50 million in Neuberger Berman blind fund, according to news reports on Oct. 16.The US-based global asset management, with US$25.5 billion asset under management, is creating a multibillion dollar private equity fund that will acquire stakes of management companies including those of US-based hedge funds. Its Korean branch will recruit US$100 million from two to three institutional investors. By Hwang You-mee (glamazon@her

[THE INVESTOR] Nature Republic’s founder and largest stakeholder Jung Woon-ho is reviewing selling his entire 73.88 percent stake (5,605,920 shares), according to Money Today on Oct. 17. The acquisition offer is led by Jeong Geun-cheol, an outside director appointed in July, and several candidates have been contacted for a private deal. The most likely contender would come from China, experts say, as despite the mess caused by the former founding CEO’s bribery scandal, the affordable cosmetics c

[THE INVESTOR]  KB Asset Management will acquire 45 percent stake in a special purpose corporation that operates solar power generation business in Chile from Korea Southern Power for US$5.62 million, according to Korea Economic Daily on Oct. 16. It will also lend US$37.50 million to Korea Southern Power’s US$50 million project to build a 37.9-megawatt solar power plant in Chile by April 2017. The power plant has already secured a 25-year contract to supply electricity to the Center for Economic

[THE INVESTOR] Doosan GridTech announced on Oct. 17 that it has signed a US$6 million agreement to supply energy storage system to US public power utility Austin Energy. This is the first major order for the energy storage software company, formerly 1Energy Systems, that has been acquired by Doosan Heavy Industries & Construction in July. Doosan GridTech will provide 3 megawatt-hour storage systems for two solar-generated electric power stations in Austin, Texas, to provide stability and raise e

[THE INVESTOR] CJ E&M announced on Oct. 17 that it has acquired Vietnamese contents creator and advertising agency Blue Group and has established a joint venture with Thai media enterprise True Visions. The entertainment and media arm of CJ Group is expanding overseas and has chosen the two Southeast Asian countries as strongpoints. Blue Group is a leader in the local market with 80 billion won (US$70.16 million) annual revenue, and this is the first time a foreign company has taken over a local

[THE INVESTOR] Korea Electric Power Corp.’s operating profit in the third quarter will reach its highest ever, according to Samsung Securities on Oct. 17.Its sales in the third quarter will stand at 15.47 trillion won (US$13.57 billion) but its operating profit should rise 7 percent to 4.64 trillion won on-year, estimated Yang Ji-hye, an analyst at Samsung.“Given that KOGAS’ sales of liquefied natural gas rose 12.5 percent in the third quarter on-year, that of KEPCO’s electricity must have incre

[THE INVESTOR] Hite Jinro’s third quarter operating profit will not be able to meet market consensus, weakening the expectations for dividends that have been bolstering the stock price, according to Samsung Securities on Oct. 14. The securities firm maintained a “buy” recommendation but lowered the target price to 27,000 won (US$23.85). Hite JinroThe liquor giant’s operating profit in the third quarter will fall 15 percent to 40.9 billion won, and revenue will slip 0.5 percent to 504.4 billion w

[DISCLOSURE] Hansae (105630) announced on Oct. 14 that it will post 1.57 trillion won (US$1.38 billion) revenue and 101.2 billion won operating profit in 2016. Its sales will reach 1.85 trillion won with a 129.7 billion won operating profit in 2017, the apparel group added. (theinvestor@heraldcorp.com)

[DISCLOSURE] Haengnam (008800) announced on Oct. 14 that it will issue convertible bonds worth 4.5 billion won (US$3.97 million) for private offering to finance acquisition of other corporation’s stocks. The maturity date is Oct. 14, 2019.(theinvestor@heraldcorp.com)