[THE INVESTOR] Lutronic announced on Oct. 6 that its laser device R:GEN has been approved by the US Food and Drug Administration to treat macular edema, that causes thickening and swelling of the yellow central area of the retina. It is the first laser therapy to treat the eye disease, and the first time a South Korean ophthalmic medical instrument has been approved in the US, according to the manufacturer.R:GEN can selectively treat retinal pigment epithelium, or the pigmented cell layer of ret

[THE INVESTOR] Celltrion Healthcare announced on Oct. 6 that it has chosen TEVA as a distributor for biosimilars Truxima and Herzuma in the US and Canada.The multinational pharmaceutical company based in Israel will pay US$160 million upfront and will split the profit from commercializing the two biosimilars developed by Celltrion.Truxima’s reference drug is rheumatoid arthritis and non-Hodgkin’s lymphoma treatment Rituxan, and Herzuma’s is breast cancer treatment Herceptin. Both are blockbuster

[THE INVESTOR] SKC celebrated the completion of its chemical mechanical polishing pad factory in Gyeonggi Province with a ceremony on Oct. 6.It has invested 20 billion won (US$17.97 million) in the factory that can manufacture about 50,000 units of CMP pad, a polyurethane product used to smooth surfaces of semiconductor wafers. CMP pads are high value-added products whose market is dominated by US companies. SKC jumped in the business last year acquiring the patent and business rights from Dongs

[THE INVESTOR] Although the third-quarter performance of Paradise Group will be below expectations, its casino and resort business will continue to grow in the mid- to long-term, according to Korea Investment and Securities on Oct. 6.The securities firm maintained its “buy” recommendation and 20,000 won (US$17.97) target price for the company, saying that its revenue in the third quarter would reach 176.4 billion won, up 23.5 percent on-year, with operating profit of 15.8 billion won, up 38.3 pe

[THE INVESTOR] Hanwha Techwin will issue corporate bonds worth 100 billion won (US$89.86 million) this month with three-year maturity, according to the Korea Economic Daily on Oct. 5. The defense arm of Hanwha Group has issued 220 billion won worth corporate bonds since June. And the additional funds will finance acquisition of 50 percent stake in its defense affiliate Hanwha Thales from Thales International for 288 billion won, to turn the company into a wholly owned subsidiary. KB Investment a

[DISCLOSURE] London-based Schroders Investment Management reported on Oct. 6 that it owns 5.13 percent stake in CJ CGV (079160), along with two individuals with special relationship. It has no intention to participate in management, it added. (theinvestor@heraldcorp.com)

[THE INVESTOR] Meritz Securities has signed a contract to purchase Deutsche Telekom’s headquarters in Bonn for 213.4 million euros (US$237.24 million) on Sept. 30, according to news reports on Oct. 6. The South Korean securities firm will jointly invest 112 billion won with other local partners including Kiwoom Securities and sell part of the stake to South Korean insurance companies and pensions. The remaining 152 billion won will be funded by a loan from a German bank, at an interest rate slig

[DISCLOSURE] Barunson (018700) announced on Oct. 5 that it will merge and absorb movie production company Pollux Pictures to expand into the movie business as a long-term growth plan and to promote the firm’s value. (theinvestor@heraldcorp.com)

[THE INVESTOR] Korea Gas announced on Oct. 5 that it has signed an agreement with BP to sell annual 330,000 tons of liquefied natural gas produced at its offshore facility in Mozambique for the next 20 years. Through its subsidiary, the state-owned company owns 10 percent stake of Coral South Floating LNG Facility expected to be installed offshore the African country. The facility is operated by Eni East Africa, which owns 70 percent stake in Area 4, where 1.8 billion tons of gas was discovered

[THE INVESTOR]  LOCUS, an animation and computer-generated imagery specialist, announced on Oct. 4 that it has signed an agreement with China’s To-Win Capital Group to attract 25 billion won (US$22.40 million) investment.This makes the Chinese investment company the third largest shareholder of the South Korean studio. Established in 2009, LOCUS boasts leading animation and computer graphics technology, and owns a number of affiliates including movie production and distribution company Sidus. By

[THE INVESTOR] Semicon Light has signed an agreement with China’s HC Semitek to establish a joint venture to expand into the global LED market, it announced at a press conference in Seoul on Oct. 5.The South Korean LED manufacturer is a leader in LEDs with flip chip architecture that allows faster processing with less power consumption, and has joined hands with HC Semitek which owns the second-largest market share in China’s EPI wafer chip market. Semicon Light will own 51 percent stake in the

[THE INVESTOR] Korea Hydro and Nuclear Power announced on Oct. 5 that it has won a US$530 million build-operate-transfer contract from Pakistan’s Private Power and Infrastructure Board for a hydroelectric power plant in the country.KHNP has formed a consortium with Daelim Industrial and Lotte Engineering and Construction and participated in the bid for the global project announced by the government body in charge of private electricity generation in January. They will build a 350-megawatt hydro

[THE INVESTOR] NCSoft announced on Oct. 5 that it has signed an agreement with China’s Alpha Group for distribution and service of its mobile game “Lineage Red Knights” in China. The contract amount is worth US$10 million.The mobile game is based on “Lineage”, a pioneering massive multiplayer online role-playing game that made NCSoft the largest South Korean game developer since it was introduced in 1998. The gaming giant will not only publish the mobile version of its flagship product but also

[THE INVESTOR] Medipost announced on Oct. 5 that it has signed an agreement with Thailand’s Inter Stemma to set up and help manage a cord blood bank in Bangkok.Inter Stemma is a stem cell venture newly founded by established Thai pharmaceutical companies, and with support from the South Korean bio company, will complete building the bank and start operations by early 2017.In addition to consultation fees, Medipost will receive 5-10 percent of the future revenue for passing on the technology and

[THE INVESTOR] SK Networks has decided not to renew its franchise agreement with Sheraton Hotels & Resorts for its Walkerhill hotel in Seoul, according to news reports on Oct. 4. Established in 1963, SK’s Walkerhill Hotel has partnered with the global hotel chain in 1977, but after four decades, the parent company believes, the homegrown hotel is ready to stand on its own.  Sheraton Walkerhill hotel in SeoulThis is seemingly against the growing tendency in South Korean hospitality industry to jo

[DISCLOSURE] Hyundai Merchant Marine (011200) announced on Oct. 4 that it is not considering selling its oil tanker division, which it reviewed in March and April to improve the financial structure, as it has signed an autonomous agreement with creditors and completed debt restructuring.(theinvestor@heraldcorp.com)

[DISCLOSURE] LS Networks (000680) announced on Oct. 4 that it will sell its entire 100,000 shares of Skechers Korea to improve its financial structure. The stake is worth 29.4 billion won (US$26.34 million). (theinvestor@heraldcorp.com)

[THE INVESTOR] Tax refund shop operator LIS announced on Oct. 4 that Sooin Cosmetic has signed a stock transfer agreement with its largest stockholder HC Asset Management to take over 2 million shares for 20 billion won (US$18.11 million). Sooin Cosmetic is an original equipment manufacturer and original development manufacturer of cosmetics. It also has its own brand and is in charge of Chinese distribution for It’s Skin. Its revenue in 2015 reached 148.8 billion won with operating profit of 22

[THE INVESTOR] Five conglomerates turned in their application for the license to operate a downtown duty-free store on Oct. 4.On the deadline set by Korea Customs Service, all the potential bidders -- Hotel Lotte, SK Networks,  Shisegae DF, Hyundai Department Store and HDC Shilla Duty Free –- submitted their offers, vying for the three slots proposed for large firms. All candidates except SK Networks, whose duty-free store at Sheraton Walkerhill hotel has closed since failing to win a license la

[THE INVESTOR] Hanbit Soft announced on Oct. 4 that it has signed a three-year exclusive agreement with PrecisionHawk to distribute agricultural drones in South Korea. PrecisionHawk is a leading US company that specializes in industrial drones and system, having developed DataMapper, a software that analyzes data collected by drones, and LATAS, a flight control system for drones. It will provide Hanbit Soft with the Lancaster model, a 0.95-meter long drone that can fly 45 minutes and gather real