[THE INVESTOR] POSCO Daewoo on Sept. 29 signed a minute of meeting to provide naval vessels and modernize shipyard shipyard for the Brazilian Navy. Under the US$1 billion deal, the South Korean trading company will supply a 2,800-ton class patrol boat and a 7,300-ton class landing platform/dock, an amphibious warfare ship that also serves as a transportation vessel for goods, in cooperation with the country’s shipbuilders, while contributing design technologies and materials. It will also carry

[THE INVESTOR]  Medytox  announced on Sept. 29 that its botulinum toxin and fillers have won approval for sales in four Central and South American countries this year.The South Korean biopharma company’s botulinum toxin Medytoxin was granted permission in Chile and Mexico in July and August, respectively. The neurotoxin, commonly known as Botox, is injected mainly for cosmetic purposes such as reducing wrinkles. Multiple types of its hyaluronic acid filler, mainly used to plump, soften and reduc

[THE INVESTOR] POSCO Daewoo is considering entering the meetings, incentives, conventions and exhibitions business, according to Korea Economic Daily on Sept. 28.The international trade company is seeking to diversify its businesses as the gas operation in Myanmar seems to be the only major source of stable income now. NEAT Tower in Songdo, Incheon, which the company -- then Daewoo International -- acquired in 2013, might be a good location for its MICE operations. About half of the 71-story bui

[THE INVESTOR] Samsung C&T’s fashion division announced on Sept. 29 that it will open a flagship store the following day for its SPA brand 8seconds in downtown Shanghai. The two-story building with 3,300 square meter area will not only showcase the complete range of 8seconds but also will house seven homegrown cosmetics, accessories and stationery brands, so that customers can experience various aspects of K-style, said the company.The South Korean fast fashion line has been eyeing the Chinese m

[DISCLOSURE] Shinsung Solar Energy (011930) announced on Sept. 28 that it will merge with its affiliates Shinsung ENG (104110) and Shinsung FA (104120) at the ratio of 1: 1.9369683 and 1:1.9733179, respectively.The merger will improve financial structure, diversify businesses and promote efficiency. The company will nurture solar energy business for private consumption as its new growth momentum, it added.By Hwang You-mee (glamazon@heraldcorp.com)

[THE INVESTOR] Energy and chemical company OCI announced on Sept. 28 that it will acquire 16.5 percent stake in Tokuyama Malaysia to strengthen its solar panel business. It will take over 50 million shares of the manufacturer of polysilicon, a material used in solar panels, next month for US$24 million.  Polysilicons produced by OCIAlthough it will not participate in the management right away, the South Korean company is reviewing taking over the entire stake of the Malaysia-based firm that is w

[THE INVESTOR] SBI Investment has partnered with US venture capital’s Asia-Pacific branch to form Global Gateway Fund, to invest in small and medium enterprises and venture firms in South Korea, according to Korea Economic Daily on Sept. 27.This is the first venture fund created by Redbadge Pacific for investing in the local market. Global Partnership Fund No. 2, formed by Korea Development Bank and Industrial Bank of Korea, has invested in the fund that will attract additional investors to grow

[THE INVESTOR] Danish high-end audio maker Bang & Olufsen will use South Korean nano material developer Nanobrick’s M-Tag as authentication labels for its premium range B&O Play, the company announced on Sept. 28.From October, all officially imported products from B&O Play, which combines high performance and streamlined, portable designs, will have Nanobrick’s anti-counterfeit label that magnetically changes color and pattern, a first in the world.By Hwang You-mee (glamazon@heraldcorp.com)

[THE INVESTOR] HDC Shilla Duty Free announced on Sept. 28 that it will participate in the bid for a license to operate a new downtown duty-free store in Seoul. The deadline for receiving applications is Oct. 4.The firm is a joint venture between Hotel Shilla, led by Samsung Chairman Lee Kun-hee’s elder daughter Lee Boo-jin, and Hyundai Development.  It hopes to open a store in IPark tower in southern Seoul if it wins the bid. This will be HDC Shilla Duty Free’s second outlet, after it successful

[THE INVESTOR] Kakao announced on Sept. 27 that Chairman Kim Beom-su has pledged to donate his 30,000 shares to nonprofit organization ARCON to help young people find the right jobs. The shares will be donated at the rate of 10,000 a year over three years to arts & community network.Kim has also donated 30,000 shares to Ashoka Foundation Korea for its project to develop educational innovators in the country in July.By Hwang You-mee (glamazon@heraldcorp.com)

[THE INVESTOR] As the deadline for submitting bids for four additional downtown duty-free stores draws near, potential bidders are readying themselves more resolutely than ever.Four licenses will be granted by the Korea Customs Service, three for conglomerates and one for a small and medium enterprise.Duty-free stores have been a cash cow for many operators amid the rising influx of Chinese tourists, with total revenue of the outlets reaching US$967.94 million in August alone, according to Korea

[DISCLOSURE] Hansae Yes24 Holdings (016450) announced on Sept. 27 that it has signed trust contracts with Hana Financial Investment and KB Investment & Securities to repurchase its own stocks worth 10 billion won (US$9.01 million) to stabilize stock prices and promote values. (theinvestor@heraldcorp.com)

[THE INVESTOR]  Daewoo Shipbuilding and Marine Engineering’s CEO Jung Sung-leep went to Dubai hold a negotiation with the Angolan state-owned oil firm over 1 trillion won (US$990 million) dues last week, but failed to resolve the issue, according to the company on Sept. 27. The South Korean shipbuilder has completed building two drill ships, set to be delivered in June and July, respectively, but due to financial difficulties, the Angolan company has postponed the delivery. The companies have ag

[THE INVESTOR] SK Telecom announced on Sept. 27 that its venture affiliate Cremotech has signed a US$10 million contract with US distribution company KDC to supply stick-type smart beam laser projectors.Since 2013, the country’s largest wireless telecommunications company has supported the startup making 2.58 billion won (US$2.32 million) equity investment and providing nine patented technologies for free.They jointly succeeded in developing the world’s first handheld projector based on laser as

[THE INVESTOR] Chinese apparel company Lancy Group has decided to jointly establish an asset management firm with KEB Hana Bank, according to local media outlet edaily on Sept. 27.The joint venture with an estimated 1 billion yuan (US$149.70 million) initial equity capital will first invest in medical cosmetics. Lancy Group has acquired 30 percent stake in South Korea’s Dream Medical Group that consists of multiple hospitals and clinics related to aesthetics and cosmetic procedures for 4.5 billi

[THE INVESTOR] Ahngook Pharm has signed an agreement to adopt Y Biogologics’ immune checkpoint inhibitor, it announced on Sept. 27.The pharmaceutical company will run non-clinical and clinical trials on the antibody that restores or enhances the immune system’s ability to fight cancer. The treatment has been reported to have less side effects than first generation chemical therapy that attacks normal tissues and to be more effective than the second generation targeted therapy that kills or deter

[THE INVESTOR] South Korean cosmetics original development manufacturers Kolmar Korea and Cosmax are further solidifying their top positions, continuing double digit growth and expanding overseas.Kolmar and its subsidiaries reported 616.1 billion won (US$554.90 million) revenue in cosmetics business in 2015, according to Financial Supervisory Service’s data on Sept. 26. Cosmax’s six affiliates have posted a combined 592.6 billion won sales last year. Intercos of Italy, which has dominated the gl

[DISCLOSURE] Doosan Heavy Industries (034020) denied media reports that it plans to sell its stake in Doosan Engine (082740), in a statement released on Sept. 26 in response to Korea Exchange’s inquiry. (theinvestor@heraldcorp.com)

[THE INVESTOR] KT and its digital media representative Nasmedia announced on Sept. 26 that they will take over top search advertising firm N Search Marketing for 60 billion won (US$54.38 million).The country’s largest telecom and internet group will own 33.3 percent stake and its affiliate will own the rest. N Search Marketing is a leading online advertising agency whose clients include Google, Facebook and Naver. It split off from Naver, and since 2014 has been owned by Han & Co. With this merg

[THE INVESTOR] Seegene announced on Sept. 26 that its Italian subsidiary Arrow Diagnostics has signed a five-year contract to supply sexually transmitted diseases and human papillomavirus detectors worth 7.5 million euros (US$8.43 million) to 17 state hospitals in Italy’s Toscana region. The South Korean company will provide molecular testers that can simultaneously test multiple sexually transmitted infections (AnyplexII STI-7) and multiple genotypes of human papillomavirus (AnyplexII HPV28) wi