[THE INVESTOR] Korea Resources Corp. is putting its stake in three soft coal mines in Australia for sale, the book value of which exceeds 150 billion won (US$133.93 million), according to Korea Economic Daily on Aug. 30.KORES has posted requests for proposal to select a sales manager and plans to accept letters of intent by Sept. 21. The preferred bidder will be announced on Oct. 5 and the sale will be completed by the end of 2017.The public enterprise owns 25 percent stake in Springvale coal mi

[THE INVESTOR]  Four candidates have been named preferred bidders to take over Hollys F&B that operates coffee shop franchise Hollys, according to news reports on Aug. 30.Out of eight that participated in the preliminary bid, the largest shareholder IMM Private Equity and the sales manager Deutsche Bank have short-listed four, including US private equity fund management giant Carlyle, as well as two companies and one local PEF. The bidding price suggested by the hopefuls is above 200 billion won

[THE INVESTOR] Four South Korean insurers including Hanwha Life Insurance have invested a combined 200 billion won (US$178.57 million) in Google’s office building in California, US, according to news reports on Aug. 31.Related article : Institutional investors show growing appetite for overseas property mezzanine debtThey have joined hands with Hyundai Asset Management on condition of purchasing a senior loan with the Silicon Valley building as a collateral, with an expected 4 percent annual rat

[DISCLOSURE] Korea Exchange announced on Aug. 30 that stocks of Eluon (065440) will trade ex-rights due to paid-in capital increase on Aug. 31. (theinvestor@heraldcorp.com)

[DISCLOSURE] LegoChem Biosciences (141080) announced on Aug. 30 that it will issue new stocks worth 24.5 billion won (US$21.88 million) for capital increase to finance operations. The stocks will be offered to five including Korea Investment Partners’ fund and venture investment associations. The issue price is 39,800 won per share and the listing date is Sept. 27.The company will also issue convertible bonds worth 10.5 billion won and offer to Korea Investment Partners’ leverage fund and two ot

[THE INVESTOR] Biopharmaceutical company Celltrion announced on Aug. 30 that its biosimilar Remsima has been prescribed for more than 105,000 patients in Europe by end-June since its launch in August 2013.As the number of European patients who were prescribed Janssen’s Remicade (infliximab), the original drug to treat rheumatoid arthritis and autoimmune diseases, is estimated to be about 260,000, the biosimilar version is taking up about 40 percent of its market share, according to the company.

[DISCLOSURE] Meritz Fire & Marine Insurance (000060) reported on Aug. 30 that its operating profit in July rose 22.6 percent to 39.85 billion won (US$35.58 million) from the same period last year. Revenue increased 4.2 percent to 506.41 billion won and net profit hiked 25.5 percent to 28.29 billion won on-year.(theinvestor@heraldcorp.com)

[THE INVESTOR] Home furnishing company Hanssem has signed an agreement to export 35,000 blenders to China and Singapore, it announced on Aug. 29. The leading furniture and lifestyle goods company has branching out into small kitchen appliance business in August 2015 with a vacuum blender. The blender has won awards at international invention shows, and Hanssem is seeking to present it at home appliance exhibitions in Berlin and Las Vegas, aiming to expand sales to Europe and the US, with a 10 bi

[THE INVESTOR] Chinese insurance company Anbang has sought the Financial Services Commission’s approval for acquiring Allianz Korea, the top financial regulator announced on Aug. 30. This comes after Beijing’s approval for the acquisition, according to Herald Business. Anbang Insurance had signed a stock transfer agreement with Germany’s Allianz Group to take over its South Korean unit for US$3 million in April.  Anban Insurance headquartersFor almost five months, though, it did not submit its q

[THE INVESTOR] Korea Electric Power Corp. has signed a US$39 million agreement with the Dominican Republic on Aug. 29 in Santo Domingo, it announced on Aug. 30.The deal covers installing and replacing the distribution network across the Central American country, and the South Korean state-owned company will cover the whole process from planning to execution.  KEPCO CEO Cho Hwan-eik (third from the right) and Dominican President Danilo Medina Sánchez (third from the left). KEPCOAs small and mediu

[THE INVESTOR] Green Cross has decided to introduce its quadrivalent flu vaccine in the US, according to news reports on Aug. 30.In 2015, the pharmaceutical company won approval for its GC Flu Quadrivalent, the first is Asia and the fourth worldwide flu vaccine that covers four strains of influenza -- two influenza A strains (H1N1, H3N2) and two influenza B strains (Yamagata, Victoria) -- with a single vaccination.Green Cross currently exports trivalent flu vaccine to 30 countries but has not be

[THE INVESTOR] Korea Development Bank has selected Samjong KPMG as the lead manager to sell off its entire stake in steel manufacturers Haewon ST and Haewon MSC, according to a report by Korea Economic Daily on Aug. 30. Samjong will accept letters of intent by Sept. 2 and will name candidates on Aug. 5. The bank owns 9.05 percent stake (2,730,857 shares) in Haewon ST and 9.13 percent stake (238,760 shares) in Haewon MSC, acquired in 2010 in a debt-equity swap as part of a workout process. Korea

[DISCLOSURE] Dongkook Industrial (001620) announced on Aug. 29 that it has decided to guarantee a 10.48 billion won (US$9.34 million) debt of its subsidiary KDK Automotive. This amounts to 5.7 percent of its equity capital.(theinvestor@heraldcorp.com)

[DISCLOSURE] Cosmo Chemical (005420) announced on Aug. 29 that it will sell a building and land worth 46.09 billion won (US$41.08 million) in Seoul to KAMCO to promote efficiency of asset management and secure liquidity. This amounts to 7.31 percent of its 2015 equity capital and the due date for the transfer is Aug. 30. (theinvestor@heraldcorp.com)

[THE INVESTOR] Daesung Industrial announced on Aug. 29 that its affiliate Daesung Heat Pump and Italian fuel cell company SOLIdPower will jointly develop next generation solid oxide fuel cell systems.They have partnered to develop the 10 kilowatt SOFC system for sale in South Korea where it is yet to be applied more broadly. Established in 2006, SOLIDPower is a global leader in SOFC and for its debut in South Korea, the Italian company chose Daesung, known for its heat exchanging technology and

[THE INVESTOR] Asiana Airlines announced on Aug. 29 that it has decided not to pursue maintenance, repair and overhaul business, a joint effort with North Chungcheong Province, due to lack of feasibility.The South Korean airliner had signed a memorandum of understanding with Cheongju City government and low-cost carriers Jeju Air and Air Busan in March 2015 to invest in an MRO facility at Cheongju Airport. The city and the province were looking at eligible sites while Chungbuk Free Economic Zone

[THE INVESTOR] The Ministry of Oceans and Fisheries announced on Aug. 29 it will spend 41.4 billion won (US$36.90 million) to expand the Busan North Port to accommodate larger international cruise ships by August 2018. It will enlarge the cruise dock of the northern harbor of Busan, widening it to 45 meters from 30 meters and extend the length to 440 meters from 360 meters so that a 220,000 gross tonnage cruise ship can dock. Busan Port currently has two exclusive docks for cruise ships and the

[THE INVESTOR] Hanwha Chemical announced on Aug. 29 that its subsidiary Hanwha Advanced Materials has failed in its bid to acquire Continental Structural Plastics, a US-based automotive materials manufacturer that supplies to General Motors, Ford and Chrysler. The preferred bidder will be announced in the next few days. By Hwang You-mee (glamazon@heraldcorp.com)

[THE INVESTOR] Eastar Jet launched a service between Jejudo and China’s Jinjiang on Aug. 29, increasing the number of its regular flights to China to eight, the largest number for a budget carrier. The South Korean low-cost carrier is continuing its lead in operations to China. Currently it operates non-scheduled flights from Yangyang, Gangwon Province, to 16 cities in China. It was the first to offer non-scheduled direct flights to Linyi, in June, and Dandong, in October 2015. Eastar Jet also j

[THE INVESTOR] Global Sae-A, the holding company of apparel maker Sae-A, is launching a golfwear range next year, according to media reports on Aug. 29. Based on the fabric sourcing knowhow compiled by its affiliate Sae-A, a leading OEM/ODM apparel maker that has catered to international clients since 1986, the company is seeking to establish a brand of its own with a sales target of 50 billion won (US$44.50 million) to be reached in two years.Hansae, another marker leader whose clients include