May 21, 2018

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LG to face new management centering on heir Koo Kwang-mo

[THE INVESTOR] The nation’s fourth-largest conglomerate LG Group will face new management centering on its heir apparent Koo Kwang-mo after his adoptive father and group Chairman Koo Bon-moo died on May 20. Koo Kwang-mo is the son of the late Koo’s younger brother Koo Bon-neung. Under LG’s strict principle of excluding women from the management, Koo Kwang-mo was adopted in 2004 by the late Koo, who lost his only son in a car accident. Former US President Barack Obama(left) and late LG Chairman K

LG Group’s low-profile heir steps into the limelight

[THE INVESTOR] LG Group Chairman Koo Bon-moo’s hospitalization on May 17 has pushed his low-profile son Koo Kwang-mo into the limelight. LG Corp., the holding unit, said it has decided to put the junior Koo’s board membership for approval at a shareholders meeting on June 29. The 40-year-old LG Electronics executive is the third-largest shareholder with 6.24 percent in the firm after the chairman with 11.28 percent and Vice Chairman Koo Bon-joon with 7.72 percent. “As it is inevitable that the h

MillerCoors accuses Hite of copycat trademark

[THE INVESTOR] US brewing giant MillerCoors has accused Korean beer brand Hite of copying its light pale lager Lite, in an apparent move to deter Hite Jinro’s growing presence in the US market. According to the United States Patent and Trademark Office, MillerCoors recently filed a petition against Hite Jinro’s registration of a trademark in the US, which the South Korean beer company had applied for in February last year. The trademark registration process was almost completed earlier this year

Biogen confirms it is upping stake in Samsung Bioepis

[THE INVESTOR] Samsung BioLogics said on May 18 that Biogen Therapeutics has confirmed that it will increase its stake in their joint venture Samsung Bioepis up to nearly 50 percent in a move that could sway the authorities who are looking into the Samsung affiliate’s accounting irregularity allegations. “Samsung BioLogics received a letter from Biogen on May 17 saying that the company will exercise its call option (to raise its stake in Samsung Bioepis to 50 percent minus one share) by the due

NPS’ advisor opposes Hyundai’s spin-off merger deal

[THE INVESTOR] Local proxy advisor Korea Corporate Governance Service on May 18 recommended shareholders to vote against the spin-off merger of Hyundai Motor's two affiliates, dealing a blow to the auto giant’s governance overhaul plan that will be put to vote on May 29. The KCGS, which advises National Pension Service and other institutional investors, opposed the deal, citing lack of improvement in shareholder and corporate value for Hyundai. “The merger doesn’t seem to answer the purpose (of

Samsung, LG compete to install air purifiers at Starbucks outlets

[THE INVESTOR] Samsung Electronics and LG Electronics are competing to supply air purifiers to Starbucks outlets here, according to the local unit of the coffee chain on May 17.The company will select a supplier next month after comparing products from the two companies thoroughly. It declined to give more details, but said the system will be applied to all the 1,140 outlets in the country.“We will thoroughly evaluate not only the product itself but also factors like maintenance costs and measur

SK hynix relieved as Toshiba deal nears conclusion

[THE INVESTOR] Korean chipmaker SK hynix welcomed the recent regulatory approval from Chinese antitrust authorities for the acquisition of Japanese chipmaker Toshiba’s memory chip business unit, confirming the deal will likely be concluded next month. The chip-making arm of SK Group is part of a consortium led by US investment firm Bain Capital. The group, which was chosen as preferred bidder for the acquisition last year, was waiting for approval from regulators in eight nations, including the

LG chairman hospitalized, reportedly in critical condition

[THE INVESTOR] Koo Bon-moo, chairman of South Korean conglomerate LG Group, has been hospitalized due to an illness he has been suffering, and he is reportedly in a critical condition, according to news reports on May 17.Koo, the second generation of the LG owner family, has been receiving treatment at Seoul National University Hospital for more than a year since he had surgery early last year. LG Chairman Koo Bon-mooLG Group called an emergency meeting of the board of directors Thursday morning

Samsung developing Duplex-like AI assistant: CEO

[THE INVESTOR] Not to be outdone by Google, whose artificial intelligence Duplex successfully booked a table and a haircut at its big unveiling last week, Samsung said it plans to showcase a bot that sounds just like a human as early as next year.“Developing an AI solution that can talk like a human is what we are getting at,” said Kim Hyun-seok, the chief of Samsung Electronics‘ home appliance division, at a media conference for AI held in Seoul on May 17, forecasting that all of Samsung’s digi

Booyoung to sell Samsung building for cash

[THE INVESTOR] Korean builder Booyoung Group is selling the office building of Samsung Fire & Marine Insurance it acquired a year ago to secure cash as it is suffering operating losses, according to industry sources said on May 17. Booyoung acquired the building, located in Euljiro, central Seoul, for 438 billion won (US$406 million) early last year after it purchased another Samsung building owned by Samsung Life Insurance for 571.7 billion won in 2016. The binge spending worth more than 1 tril

Daewoong Pharma shares shed 6% as FDA declines to approve Nabota

[THE INVESTOR] The US Food and Drug Administration has rejected Daewoong Pharmaceutical’s application seeking approval of its botulinum toxin Nabota, also known as DWP-450, the company said on May 17. Daewoong shares fell 3.86 percent after the Korean drug maker revealed that its US partner Evolus had received a complete response letter from the health regulator on May 15 which will delay its entry to the key market. “Daewoong and Evolus will refile an application at the earliest possible time w

Civilian experts to advise NPS on Hyundai’s restructuring plan vote

[THE INVESTOR] A civilian expert committee set up by the National Pension Service is set to decide the future of Hyundai Motor Group’s controversial corporate restructuring plan, the state-run pension fund said on May 17. The committee -- made up of nine experts selected on recommendations by the government, academia and subscribers -- will be in charge of making the fund’s voting decision at the Hyundai Mobis’ shareholders meeting on May 29. The fund management committee will hold a meeting on

[URGENT] LG Group chairman Koo passes away at age of 73

LG Group’s low-profile heir steps into the limelight

LG to face new management centering on heir Koo Kwang-mo

Late LG chief noted for foresight and perseverance

Samsung, LG compete to install air purifiers at Starbucks outlets

Booyoung to sell Samsung building for cash

Jung Hae-in effect? Cosmetics maker Dewytree seeks Chinese expansion

Daejeon offers to partner with Adobe to bolster digital literacy

Facebook protests W396m won fine in Korea

Samsung Electronics employees exceed 100,000

KOTRA vows to play leading role in S. Korea-ASEAN economic cooperation

[EQUITIES] ‘Lotte Fine Chem undervalued’

[EQUITIES] ‘CJ CGV’s biz in China to recover’

[EQUITIES] ‘Kakao adds value by merging with subsidiary’

All about Samsung BioLogics’ alleged window dressing

Hyundai to offer Veloster compact to ‘Tuscani Hero’

Glass Lewis urges vote against Hyundai's overhaul plan

Philip Morris’ IQOS cigarettes to carry risk warnings first in Korea

Crypto exchange Upbit raided on fraud allegations

Zikto gets W500m funding from Wells Investment

Aroundus launches job-searching service for freelancers, students

SoftBank Ventures taps new CEO

[SECOND OPINION] New thinking needed on GM Korea

Fall of the ‘Angel of Death’?

Wherever you end up going

Grab’s crucial lessons for KakaoTaxi