[THE INVESTOR] CJ O Shopping will rebound in the third quarter and continue the upturn in the next quarter, according to Hana Financial Investment on Oct. 14.The securities firm maintained its target price of 210,000 won (US$185.69), and forecast 25 billion won operating profit in the third quarter, up 19 percent on-year.“Its volume handled will increase 2.1 percent to 732 billion won, turning to positive growth for the first time in seven quarters,” said Park Jong-dae, an analyst at Hana.“The m

[THE INVESTOR] Goldman Sachs consortium and Daesung Group Partners will put the entire 100 percent stake of Daesung Industrial Gases on sale at the end of this month, according to new reports on Oct. 14.Goldman Sachs consortium is the largest stakeholder of the gas company, having purchased 68 percent stake from Daesung Group Partners for US$400 million in 2014 as part of the company’s restructuring. Kim Young-tae, CEO of Daesung, gave up on his call option to buy back the gas company stake rece

[THE INVESTOR] Miwon Chemicals reported on Oct. 14 that its operating profit in the third quarter on consolidated basis rose 13.4 percent to 4.56 billion won (US$4.03 million) from the same period last year. Sales dropped 6.8 percent to 34.49 billion won on-year.The chemical company has been at the center of a recent controversy for providing a toxic substance used in toothpastes and personal care products that was also used in deadly humidifier disinfectants. It reportedly distributed over 3,00

[THE INVESTOR]  AmorePacific’s revenue from China will increase dramatically following the government’s decision to reduce consumption tax, according to LIG Investment and Securities on Oct. 14.“Following the Chinese government’s decision to cut the consumption tax by half to 15 percent, duty-free sales will decrease gradually but local turnover will surge,” said Kang Su-min, an analyst at LIG. The South Korean beauty giant’s operating profit in the third quarter will jump to 218.7 billion won (

[THE INVESTOR] Doosan Heavy Industries & construction announced on Oct. 14 that it has signed a US$850 million contract with Redondo Peninsula Energy, a civil power generation company in Philippines, to build a thermal power plant.The Subic Redondo coal-fired power plant, located 130 kilometers northwest of Manila, will have two units, and the first will be completed by December 2020. This is the first time a 300-megawatt boiler with circulating fluidized bed technology is being applied in the S

[THE INVESTOR]  Hotel Lotte has submitted a bid to acquire Neul Proon Medical Foundation along with three other strategic investors, the retail giant announced on Oct. 14.Hotel Lotte will compete with three bidders including Korea Yakult. This effectively signals the normalization of its operations after Lotte Group Chairman Shin Dong-bin dodged arrest two weeks ago.“Utilizing the residential care facilities for the elderly and rehabilitation medical facilities for children, we can expand our so

[THE INVESTOR] Kolmar Korea reported on Oct. 13 that its subsidiary Seokoh has participated in the capital increase of US cosmetics original development manufacturer Process Technologies and Packaging, and has acquired 51 percent stake (8,079,336 shares) for 17.19 billion won (US$15.25 million). Seokoh is a special purpose corporation in the US established to take over a local company. In September, the South Korea-based cosmetics OEM/ODM giant has partnered with Wormser, the largest cosmetics s

[THE INVESTOR] The court has decided to put out a public notice for sale of Hanjin Shipping’s America-Asia routes on Oct. 14 at the earliest, according to news reports on Oct. 13.The ailing shipping company currently under rehabilitation process has turned in an application seeking the court’s approval for merger. The court granted permission and chose Samil PricewaterhouseCoopers as the sales manager. Hanjin’s America-Asia routes operation including personnel, operation system, five containers,

[THE INVESTOR] Hanwha Techwin announced on Oct. 13 that it has signed a memorandum of understanding with GE Digital to cooperate in smart factories. They have agreed to apply GE’s solutions including Predix to digitalize factories and facilities of Hanwha Techwin, the mechatronics arm of Hanwha with a strength in defense industry, and jointly develop novel business models combining products and services. By Hwang You-mee (glamazon@heraldcorp.com) 

[THE INVESTOR] China’s investment management company Gold Finance's South Korean branch has signed an agreement to take over 27.56 percent controlling stake in Fantagio Entertainment from its largest stakeholder Savoy E&M for 30 billion won (US$26.62 billion), according to news reports on Oct. 12. Fantagio is one of the largest entertainment agencies whose artists include Ju Jin-mo and Seo Kang-jun, and until yesterday, Ha Jung-woo. The Chinese civil wealth management company was established in

[THE INVESTOR] Green Cross announced on Oct. 13 that it will suspend clinical trials of GreenGene F, a treatment for A-type hemophilia, in the US and will focus on China. The suspension is due to the difficulty in recruiting participants with the rare bleeding disorder in which the blood does not clot normally. “We expected the clinical trials in the US to take two to three years, but as it is a rare disease, the recruitment overextended the trial timetable,” said an official. The clinical trial

[THE INVESTOR] Kumho Industrial announced on Oct. 12 that it will invest 50 billion won (US$44.37 million) in its affiliate Asiana Airlines to strengthen control. The parent company of Kumho Asiana Group will participate in the airline’s capital increase and will acquire 10 million newly issued shares at 5,000 won apiece. The due date is Nov. 7. After the acquisition, its stake will increase to 33.49 percent from 30.08 percent. Asiana Airlines, the country’s second largest full service carrier,

[DISCLOSURE] Korea United Pharm (033270) announced on Oct. 12 that its 38.4 billion won (US$34.18 million) contract with Jiangxi JiminKexin Group to supply its incrementally modified drug Cilostan Tabs has been canceled upon the Chinese company’s request. This amounts to 23.7 percent of the South Korean pharma company’s sales in 2015. The contract to supply Clanza Tabs will remain in effect. Cilostan reduces blood clots and Clanza relieves pain and inflammation. (theinvestor@heraldcorp.com)

[DISCLOSURE] S&K Polytec (091340) announced on Oct. 12 that it will acquire the entire stake of mobile phone parts manufacturer NPD (3.2 million shares) at 20 billion won (US$17.80 million) from Han Bu-yeong and one other to diversify its businesses. This amounts to 40.86 percent of the company’s equity capital. (theinvestor@heraldcorp.com)

[THE INVESTOR] Celltrion announced on Oct. 12 that its influenza antibody CT-P27 has been approved by the Ministry of Food and Drug Safety to initiate the 2b phase of clinical trials. The novel therapeutic agent for treatment against universal influenza binds to the stem region of hemagglutinin, the major viral surface protein, and inhibits the entry of influenza virus into host cells. In the previous clinical trials carried out in the UK, it was found to greatly reduce concentration of viruses

[THE INVESTOR] Nexon announced on Oct. 12 that it has acquired 49 percent stake in iDCC, a Thai game publisher, and became it largest stakeholder. Nexon will take over the remaining stake upon government approval. Established in 2010, iDCC services online games including a role-playing game “12 Tails Online”. South Korea’s largest online game developer is seeking more business opportunities in Southeast Asia where the growth potential is huge, starting with Thailand which accounts for over 20 pe

[THE INVESTOR] Ahngook Pharmaceutical announced on Oct. 12 that it has signed an agreement with multinational pharmaceutical company Menarini for sales rights of its cough syrup Synatura in seven Central American countries. The Italy-based company will have sales and marketing rights of the cough and mucus reducer in Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Belize. The contract amount remains undisclosed. Synatura Syrup was introduced in 2011 by the South Korean firm.B

[THE INVESTOR] The Seoul Central District Court has chosen UAMCO as the preferred bidder to take over Young Hwa Construction and Engineering, according to news reports on Oct. 11.UAMCO, an asset management jointly set up by local banks that specializes in non-performing loans, will sign a memorandum of understanding later this week, and will create a project fund to finance the deal estimated to be between 50 billion won (US$44.51 million) and 60 billion won. Young Hwa C&E is owned by Young Hwa

[THE INVESTOR] Hana Financial Group’s third-quarter performance will be above market expectations and the stock price is still underestimated, said Mirae Asset Securities on Oct. 12. The securities firm maintained a “buy” recommendation and raised the target price to 42,000 won (US$37.39).The finance firm’s “third-quarter net profit will surge 38 percent to 352.4 billion won on-year,” said Kang Hye-seung, an analyst at Mirae Asset. “Following the drop in exchange rate from last quarter, 45 billi

[DISCLOSURE] Hanwha Thales announced on Oct. 11 that Thales International has sold its entire 50 percent stake (13.5 million shares) to Hanwha Techwin (012450) for 288 billion won (US$259.58 million). Hanwha Techwin now owns 100 percent stake in its affiliate and the name has been changed to Hanwha System. (theinvestor@heraldcorp.com)