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Samsung Heavy Industries is mulling taking over troubled Daewoo Shipbuilding & Marine Engineering, the company said on Feb. 8. “The management is considering the idea after receiving an investment proposal from the Korea Development Bank,” said a company official. “But it’s too early to tell i...
Korean Air’s family-controlled management is facing a challenge, as a key shareholder has demanded more outside managers. Private equity firm Korea Corporate Governance Improvement which acquired a significant stake in Hanjin Group, the airline’s parent company, has become its second-largest sha...
[THE INVESTOR] Korea’s state pension operator on Feb. 1 decided to actively exercise its shareholders’ right over Hanjin KAL, holding firm of the country’s largest airline Korean Air. The fund management committee -- the highest decision-making body of the National Pension Service -- howeve...
[THE INVESTOR] The state-led Korea Development Bank on Jan. 31 announced that it has inked a temporary deal with Korea’s largest shipbuilder Hyundai Heavy Industries to sell off debt-ridden Daewoo Shipbuilding & Marine Engineering amid signs of turnaround. Related: DSME set to complete debt...
[THE INVESTOR] SK Corp., the investment holding company of energy and telecom conglomerate SK Group, said on Jan. 30 that it has decided to invest US$100 million in a US-based smart-tinting glass maker. In a statement, SK said it would take over 4.66 percent of Kinestral Technologies, a develo...
[THE INVESTOR] Saudi Aramco’s plan to buy into Hyundai Oilbank, a major Korean refiner, seems to be Saudi Arabia’s strategic push to keep the Asian market from the United States and other competitors, a report showed on Jan. 30. In a regulatory filing, Hyundai Heavy Industries Holdings said ...
[THE INVESTOR] The heir to Hite Jinro and two other company executives including the CEO will stand trial on charges of arbitrarily making contracts with an affiliate tied to the scion to help boost its sales, prosecutors said on Jan. 29. Park Tae-young, head of Hite Jinro’s management strate...
[THE INVESTOR] S-Oil said on Jan. 28 it shifted to a net loss for the October-December period due to inventory-related losses. For the three months that ended in December, the company’s net loss stood at 247.85 billion won (US$222 million) from a net profit of 386.94 billion won a year earlie...
[THE INVESTOR] Samsung SDI announced on Jan. 25 its fourth-quarter net earnings increased 10.8 percent on-year on strong demand for its lithium-ion batteries used in cordless devices and electric vehicles. In a regulatory briefing, the battery-making unit of Samsung Electronics said its income s...
[THE INVESTOR] Pan Ocean said on Jan. 25 that it has clinched a shipping contract worth 127 billion won (US$113 million) to transport iron ore from Brazil to China. Under the deal with Brazilian mining company Vale, Pan Ocean will ship iron ore for five years starting in October 2020, the comp...
[THE INVESTOR] A Seoul court on Jan. 25 sentenced the head of major food maker Samyang to three years in prison for embezzling 5 billion won (US$44.30 million) of company funds. The Seoul Northern District Court handed down the verdict to Chun In-chang, chairman of Samyang Foods. It also sente...
[THE INVESTOR] Sales of cigarettes in Korea fell 1.5 percent in 2018 from a year earlier due to the government-led anti-smoking campaign and higher prices, data showed on Jan. 25. Smokers purchased 3.47 billion 20-cigarette packs last year, compared with the previous year’s 3.52 billion packs...
[THE INVESTOR] Korea Corporate Governance Improvement, a local private equity firm, has unveiled plans to more actively participate in the management of Hanjin Group. The activist fund, led by former LK Investment Partners head Kang Sung-bu, claimed that the family-owned conglomerate has a weak g...
[THE INVESTOR] Lotte Chemical said on Jan. 17 that its affiliate has acquired a Turkish engineered stone producer for 125 billion won (US$112 million). Lotte Advanced Materials will hold 72.5 percent of Belenco -- established in 2011, is Turkey’s No. 1 engineered stone producer. With the ...
[THE INVESTOR] Korea’s state pension operator said on Jan. 16 that it will decide in February whether to actively exercise its shareholders’ right over Korea Air and its holding firm Hanjin KAL. The fund management committee -- the highest decision-making body of the National Pension Service...
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