[THE INVESTOR] A sweltering heat wave has stifled South Korea this summer, but that has not helped the country’s domestic beer industry. The second-quarter beer sales of Hite Jinro, one of the leading South Korean distillers, fell 8.6 percent on-year, dragging down total sales to 200.6 billion won (US$179.3 million), according to Samsung Securities. The operating profit came in at 27.6 billion won, down 1.7 percent from the same period last year, well below market expectations. The company remai

[THE INVESTOR] CJ CheilJedang announced Aug. 23 that it has turned in a binding letter of intent with Metabolix for the sale of the US bio venture company’s biopolymer intellectual property and laboratory equipment for US$10 million. Under the agreement to be fully implemented by mid-September, CJ will secure a research and development lab in Boston, Massachusetts, further bolstering its competitiveness in the environmentally friendly bio industry. The South Korean conglomerate will focus on PHA

[DISCLOSURE] Samsung C&T (028260) announced on Aug. 22 that it will guarantee a 785.21 billion won (US$697.96 million) debt of its affiliate SW Development. This amounts to 7.7 percent of its equity capital. (theinvestor@heraldcorp.com)

[DISCLOSURE] DI (003160) announced on Aug. 22 that it will guarantee an 8.89 billion won (US$7.90 million) debt of its affiliate SW Development. This amounts to 7.7 percent of its equity capital. (theinvestor@heraldcorp.com)

[DISCLOSURE] JW Pharmaceutical (001060) announced on Aug. 22 that it will issue redeemable convertible preferred stock worth 111.9 billion won (US$99.47 million) and offer to its largest stakeholder JW Holdings and four others, to raise capital. JW Holdings will acquire stocks worth 68.9 billion won and increase its stake to 43.88 percent from 41.25 percent. (theinvestor@heraldcorp.com)

[THE INVESTOR] CHA Biotech announced Aug. 22 that its CB-AC-02, an Alzheimer’s disease treatment based on stem cells, will initiate phase 1 and phase 2A of clinical trials simultaneously.Made of placenta-derived mesenchymal stem cells, the intravenous injection will be tested for safety and efficacy. When commercialized, it can be cryopreserved and supplied off the shelf, decreasing cost compared to existing treatments cultured to order, according to the company. The drug candidate has been foun

[THE INVESTOR] A 40 billion won (US$35.6 million) fund specializing in virtual and augmented reality technologies is to be set up, the Ministry of Science, ICT and Future Planning announced Aug. 21.The fund is part of the South Korean government’s nine science and technology projects, and the government will underwrite 60 percent of the fund. Half of the fund will be invested this year and the other half next year. Journalists wear Samsung Electronics' Galaxy VR headset at the Galaxy S7 launch e

[DISCLOSURE] Information security solution provider Secuve (131090) announced on Aug. 22 that it has obtained a patent related to an additional authentication administration system and method using an exclusive run-time module. (theinvestor@heraldcorp.com)

[THE INVESTOR] Samsung’s security solutions division S1 is making inroads in Mongolia, building a total security system at the capital’s new airport, it announced Aug. 22.The company won the order in 2013 and is establishing a system that includes CCTV, immigration control and X-ray scanners at the Ulaanbaatar airport slated to open in 2018. S1 is looking to expand into overseas markets, especially in China, and expects the Mongolian project to pave the way. Its Chinese affiliate posted 1.2 bill

[THE INVESTOR] Boditech Med announced Aug. 22 that it has received approval from the Japanese Ministry of Health, Labor and Welfare to sell its tester able to detect both A and B type influenza viruses. More than 100 times more sensitive in diagnosis than existing testers, it takes three to 10 minutes to show results, down from 10 to 15 minutes, according to the company.  Boditech Med's tester able to detect both A and B type influenza viruses. Boditech MedFollowing approval, the testers will go

[DISCLOSURE] Kwanghee Reit (140910) announced Aug. 22 that it has acquired private real estate investment trust securities worth 5 billion won (US$4.45 billion) from Koramco.This amounts to 8.4 percent of its equity capital. By Park Yuna (yunapark@heraldcorp.com)

[THE INVESTOR] E-mart announced Aug. 22 that it has signed an agreement with Metro China to supply its private label items worth US$15,000. The largest discount seller in South Korea will introduce four items from its No Brand range, a no-frills lineup of its own, to be sold from September. This is the first time E-mart is exporting the range to an overseas offline store, not at E-mart branches, and the retail giant expects to be the stepping stone to diversify the distribution channels. E-mart’

[DISCLOSURE] Posco Daewoo (047050) announced on Aug. 19 that its profit in the first half of this year from the offshore gas fields A-1 and A-3 have decreased 25.8 percent from the previous half to 264.8 billion won (US$238.80 million). It also announced that it has reached 500 million cubic feet daily gas production target since December 2014. Its profit, however, decreased due to the drop in oil price, and usual low demand in gas in the second quarter, and spending in maintenance. By Hwang You

[DISCLOSURE] Asiana Airlines (020560) announced on Aug. 19 that it will invest 20 billion won (US$18.04 million) in its subsidiary Air Seoul’s capital increase allotted to shareholders. The total amount of its investment will reach 35 billion won. By Hwang You-mee (glamazon@heraldcorp.com)

[THE INVESTOR] South Korean “cosmeceutical” brand Dr. Jart opened its first flagship store in China in Shanghai, it announced Aug. 19. Located on the first floor of Super Brand Mall, the largest shopping complex in the city, it showcases about 45 major items, including brightening cream, mask sheets and its best-selling range Ceramidin. Dr. Jart had been available only at multi-brand cosmetics store Sephora’s branches in China. The 11-year-old brand has expanded to 17 countries, including the US

[DISCLOSURE] China Ocean Resources (900050) announced on Aug. 19 that it will issue 3 million stocks worth 12 billion won (US$10.82 million) and offer to Ocean Ample Overseas and a Hong Kong investment firm owned by its largest stakeholder Zhang Hou Li’s son to solve its financial difficulties. By Hwang You-mee (glamazon@heraldcorp.com)

[THE INVESTOR] Hyundai Rotem has collected 83.5 billion won (US$74.7 million) in outstanding payments from a railway project in Iran, according to news reports Aug. 19.It signed a contract in 2004 with Raja, a public enterprise under the national Islamic Republic of Iran Railways, to supply 150 diesel trains. The company started delivering trains in 2007, but as the US imposed sanctions against Iran, the project was halted and payment was interrupted. As economic sanctions on Iran were lifted in

[THE INVESTOR] Celltrion has entered the final stage to introduce its biosimilar Remsima to the US following a favorable verdict from a US federal court in a patent infringement suit with Janssen Biotech, it announced Aug. 19.The South Korean biopharmaceutical company has commenced shipment for the replica of Janssen’s Remicade, a rheumatic arthritis and autoimmune disease treatment, to accelerate the release of the drug in the US, the largest biologics market in the world. Celltrion and its sal

[THE INVESTOR] UP Chemical, a manufacturer of key components for SK Hynix, will be acquired by Chinese chemical company Jiangsu Yoke Technology. Woori Renaissance Consortium has selected a consortium of the tech company and Huatai United Securities as the preferred bidder for the sale of the South Korean semiconductor maker, according to investment bank sources. The Chinese consortium will acquire 65.12 percent stake owned by Woori as well as 31.16 percent stake from company founder Shin Hyeon-g

[THE INVESTOR] Hana Asset Management has taken over the North American headquarters building of Danish pharmaceuticals company Novo Nordisk for US$350 million, it announced Aug. 18. It has joined hands with three South Korean securities firms -- Hana Financial Investment, Mirae Asset Daewoo and HMC Investment Securities -- to form a private equity fund specializing in real estate, having made an investment of about half the purchase. The rest of the fund has been delivered through a loan with th