November 21, 2018

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[INTERVIEW] Plug and Play to nurture next unicorn in China through corporate matchmaking

[THE INVESTOR] HANGZHOU, China -- When it comes to China’s booming fintech scene, the four tech titans Baidu, Alibaba, Tencent and JD.com -- known as BATJ -- dominate the industry. The widely adopted QR code-based mobile payment services by Alibaba-backed Alipay and Tencent-owned WeChat Pay are driving China to a cashless society, while e-commerce giant JD.com’s spin-off JD Finance provides consumer credit and wealth management services. China’s biggest search engine Baidu has also launched its

Mirae Asset bags fund manager license in China

[THE INVESTOR] Korea’s Mirae Asset Management said on Nov. 21 it has acquired a wholly foreign-owned enterprise license in China, stepping up its efforts to make a foray in the world’s second-largest economy. The firm said its WFOE is registered as a private fund manager with the Asset Management Association of China, the local self-regulating body. It is the 16th foreign company to obtain the license and the first Korean company to be registered as a PEF manager. China opened up its funds marke

KT to build ICT infrastructure for sports events in Malaysia

[THE INVESTOR] Telecom giant KT Corp. said on Nov. 21 that it will work with the Sarawak government in Malaysia to equip sports stadiums with cutting-edge information and communications technologies.The partnership comes as the local government is preparing to host international sports events next year, including the Asia Masters Athletics Championship and World Para Swimming Championship. KT Corp. CEO Hwang Chang-gyu.Related:KT to upgrade internet infrastructure in Suez CanalKT to build LTE net

Hanjin VS. KCGI: Second Round

[THE INVESTOR] Fresh tension is brewing at Hanjin Group, which controls Korea’s largest airline, after a local activist fund made a surprise announcement last week that it has acquired a 9 percent stake in its holding firm Hanjin KAL, becoming its second-largest shareholder. The Seoul-based private equity firm KCGI said on Nov. 15 it has purchased 5,322,666 Hanjin KAL shares for 24,557 won (US$21.47) apiece through its subsidiary Grace Holdings. The firm’s present stake compares to the largest s

Samsung family cherishes memory of late founder

[THE INVESTOR] Samsung Group commemorated the 31st anniversary of the death of Lee Byung-chul, founder of Korea’s largest conglomerate on Nov. 19.Lee, who established trucking business Samsung Trading, forerunner of Korea’s largest conglomerate, in 1938, passed away in 1987. For the first two decades since his death, the memorial service was held jointly by the family and close relatives, which include the owners of Korea’s large conglomerates CJ Group, Shinsegae Group and Hansol Group. Some of

LG H&H injects W30b in Ginza Stefany to expand presence in Japan

[THE INVESTOR] LG Household & Health Care has injected 30 billion won (US$26.58 million) in its subsidiary Ginza Stefany to expand its presence in Japan, according to industry sources on Nov. 20.The company will reportedly buy 60,000 newly issued shares of Ginza Stefany to fund the investment.“Although we have been focusing mainly on functional food in Japan, we are now trying to expand our cosmetics business,” an LG H&H spokesperson told The Investor.The Korean company has been trying to expand

Kolon Life Science inks $591m deal with Mundipharma for Invossa

[THE INVESTOR] Kolon Life Science said on Nov. 19 it has entered an agreement with Mundipharma to license out Invossa, its gene therapy designed to treat osteoarthritis, for the Japanese market, in a deal that could be potentially worth 667.7 billion won (US$591.60 million). Under the deal, Mundipharma will retain exclusive rights for the development, marketing and distribution of the cell-mediated gene therapy Invossa in Japan.  Kolon Life Sciences CEO Lee Woo-sok (left) and Mundipharma CEO Ram

China sees bright spot in AI-driven wealth management

[THE INVESTOR] Artificial intelligence has become a buzzword in China in recent years, with the country heavily investing money and talent into the technology. Among AI’s wide array of applications, fintech experts view the technology that gives human-like abilities to machines could have the greatest impact in changing China’s wealth management industry that is still at the nascent stage.  Xiaolan Guan, executive president of Hundsun Technologies; Yihan Fang, CEO of Yirendai; Matthew Chen, Grou

‘PUBG’s success is based on efforts to overcome challenges’

[THE INVESTOR] It is widely accepted that the runaway success of “PlayerUnknown’s Battlegrounds” published by PUBG, a subsidiary of Bluehole, put the battle royale mode on the world map and made the Korean game company a household name. After the game, called PUBG for short, in which 100 players compete to survive to be the last one standing, was launched in 2017, it became one of the most popular games in global markets, including the US, and China. Related:[G Star 2018] Korea’s largest gaming

Secrets of building a successful fintech firm

[THE INVESTOR] In recent years, the advancement of technology has pushed the financial sector to transform. With non-banks stepping up to lead the payment world and all parts of financial services, the competition has become fierce between new players and traditional institutions, all vying to take a slice of the fast-changing industry. What are the secrets of success in this ever-changing fintech era? There are four aspects, according to Ron Kalifa, vice chairman of Worldpay, a London-based pay

Korea’s largest gaming expo hits Busan

[THE INVESTOR] BUSAN -- G-Star, the largest gaming show in Korea, kicked off on Nov. 15, offering an opportunity for global game giants and small companies to showcase their flagship titles and attract new gamers. During the game show, joined by some 700 exhibitors, visitors from here and abroad can not only play their favorite games and those that will be unveiled next year, but also participate in a range of sub-events, like talk sessions with developers and influencers and outdoor promotio

CJ CheilJedang to acquire Schwan’s for $1.84 b

[THE INVESTOR] Korean food giant CJ CheilJedang on Nov. 15 announced that it is set to acquire US food processor Schwan’s after board approval.The company will acquire 80 percent stake for around US$1.84 billion, while making sure that the remaining shares do not get sold to a third party through rights of first refusal in its contract with the US firm.Since it is the biggest acquisition of CJ, the company said will share financing with private equity firm JKL Partners, having formed a consortiu

Samsung’s foldable smartphone to feature upgraded Bixby

Hanjin VS. KCGI: Second Round

POSCO E&C selected as preferred bidder for project in Malaysia

Samsung likely to adopt ‘punch hole’ display for Galaxy S10

Kolon Life Science inks license deal with Mundipharma for Invossa

Coupang secures US$2b from SoftBank

[INTERVIEW] Hotels.com out to secure leadership position in Korea

Korean smartphone retailers protest Apple’s policy

IPTV subscriptions surpass cable channels in H1

Samsung unveils new horticulture LED products

LG promotes high-end gaming monitor in US

[EQUITIES] ‘Hankook Tire Worldwide’s profits wane’

[EQUITIES] ‘Jeju Air not too burdened by aircraft purchase’

Woori Bank unveils financial support plan for midsized firms

FSS develops AI platform to combat text scams

Celltrion denies chairman misbehaved on flight

iNtRon shares climb over 7% on deal with Roivant

Korean duty-free sales soar 29% in Oct.

Celltrion wins FDA approval for HIV drug

Ant Financial highlights SMEs, blockchain, global partnerships for further growth

Korean startup entrepreneur lives brewing dream

SoCar showcases self-driving tech for car-sharing services

WeWork signs MOU with Busan City to launch new offices

Why birth order is a big deal at LG

New thinking needed on GM Korea

Fall of the ‘Angel of Death’?

Wherever you end up going