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The Korea Herald

Companies

April 10, 2020
Samsung Biologics to manufacture Vir’s COVID-19 treatment starting 2021

Samsung Biologics on April 10 signed a binding letter of intent worth 440 billion won ($363 million) to manufacture US-based Vir’s COVID-19 treatment, starting 2021. It is the biggest single deal Samsung Biologics has taken since its 2016 initial public offering. Vir’s SARS-CoV-2 monoclonal a...
March 30, 2020
BAT unveils new corporate strategy

British American Tobacco, the world’s second-largest tobacco maker, unveiled on March 30 a new corporate strategy and 1 billion pounds ($1.24 billion) cost-saving and investment plan. The announcement came with a new corporate goal to build “A better Tomorrow” by reducing the health impact of i...
March 18, 2020
‘Proxy advisers KCGS and ISS have lost objectivity on Hanjin’

Major shareholders of logistics giant Hanjin KAL on Wednesday rebelled against proxy advisory firms Korea Corporate Governance Service and Institutional Shareholder Service for their decision to support the extension of Chairman Cho Won-tae’s term. The group consists of his elder sister and for...
March 18, 2020
[Advertorial] LG Chem vows to create sustainable social value in outreach efforts

Leading chemicals company LG Chem said it is joining the UN Sustainable Development Goals to enhance the value of society and environment with its eco-friendly, energy and youth education corporate social responsibility programs. Education for young generation One of the company’s efforts includ...
March 17, 2020
Kakao sells part of stake in Hanjin KAL

South Korean internet giant Kakao has sold part of its stake in Hanjin KAL, having previously been expected to support Cho Won-tae in a family feud over the control of Hanjin Group, according to industry sources on March 16. KaKao’s stake in Hanjin KAL, the holding entity of Hanjin Group, is no...
March 13, 2020
‘Parasite’ tops 300 bln won in worldwide revenues

The Oscar-winning Korean film “Parasite” has topped 300 billion won (US$245 million) in worldwide ticket sales, industry data showed on March 13. According to the data by Box Office Mojo, a U.S. film revenues tracker, the black comedy film earned $253.5 million in the world, including $72.6 mil...
March 05, 2020
Lutronic faces lawsuit in US for alleged trade secrets theft

The US subsidiary of South Korea’s Lutronic is facing a lawsuit for allegedly misappropriating trade secrets through former employees of Cutera it hired recently, according to documents reviewed by The Korea Herald. Aesthetic laser equipment maker Cutera -- listed on Nasdaq -- claimed that foren...
March 02, 2020
KCGI woos Delta Air Lines for Hanjin control

A coalition led by South Korea’s activist private equity fund Korea Corporate Governance Improvement called Delta Air Lines a “partner” in its pursuit for a control over Hanjin Group and its crown jewel Korean Air in a note March 2. This reflects KCGI’s drastic turn from the previous week whe...
February 27, 2020
Hanjin Group to sell hotel assets for financial health

Hanjin KAL, the holding company of airline-to-logistics conglomerate Hanjin Group, said Thursday it was looking to sell its non-core hotel assets to improve its financial health and shareholder value. Hanjin KAL said invitations to bid for the assets had been sent to 12 firms including real estat...
February 26, 2020
Amorepacific to sell Gangnam building for W160b

Cosmetics giant Amorepacific will sell its office building in Nonhyun-dong, within Seoul’s Gangnam district, for 160 billion won ($131.25 million), according to the company’s regulatory filing Wednesday. The company decided to sell the building to secure liquidity and to improve solvency, the r...
February 24, 2020
Delta hikes stake in Hanjin KAL in support of chairman

Delta Air Lines, the third-largest shareholder of Hanjin KAL which owns Korean Air, has bought 1 percent additional stake to support Hanjin Group Chairman Cho Won-tae, industry sources said on Feb. 24. The US air carrier reportedly bought 114 shares of Hanjin KAL stake on Thursday and Friday ...
February 18, 2020
Anti-chairman coalition falters at Hanjin with withdrawal from director candidate

Kim Chi-hoon, a former Korean Air executive director who was proposed as one of the inside directors for Hanjin Group, said Tuesday he was voluntarily resigning from the candidacy. His withdrawal deals a blow to a coalition formed by Hanjin Group heiress Cho Hyun-ah to counter her brother, Chairman...
February 17, 2020
LG Chem gets default win in US ITC suit after SK Innovation’s contempt of court

The US’ International Trade Commission has made a default judgment in favor of LG Chem in its suit against SK Innovation, LG Chem said on Feb. 16, hinting that the end is near in the legal tug-of-war between the two Korean battery makers. A default judgment occurs when a court rules in favor of ...
February 07, 2020
Hanjin KAL decides to give board of directors right to pick chairman

Hanjin KAL, the holding company of Hanjin Group, held a board meeting on Friday, to have the chairman of the board of directors be elected by the board to separate the position of its company president and the board chair. The board also decided to reorganize the hotel and leisure business that f...
February 07, 2020
Kona sales push up Hyundai among EV makers in 2019

Hyundai Motor emerged as a major electric vehicle maker last year, SNE Research said on Feb. 5. The sales of the South Korean automaker’s EVs soared 2.7 times in 2019 backed by the popularity of Kona in Europe, the research firm said. It was ranked 11th in 2018. Tesla, a US EV maker, maintained ...

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