September 21, 2018

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Samsung to sell diagnostic device unit to Japanese firm

[THE INVESTOR] Samsung Electronics plans to sell one of its units that produces medical diagnostic devices to a Japanese health care device manufacturer, according to sources on Sept. 20.Nipro, the No. 2 dialysis device manufacturer in the world, signed a letter of intent to acquire a in-vitro diagnostic device division of the Korean firm with a plan to close the deal by the end of this year, according to a Samsung official. The Osaka-headquartered company has been supplying reagents to Samsung 

Macquarie Korea wins battle with Platform over infrastructure fund

[THE INVESTOR] An attempt to oust Macquarie Korea Asset Management from operating Macquarie Korea Infrastructure Fund, the only listed infrastructure fund in Korea, has failed. On Sept.19, the fund’s shareholders voted to retain Macquarie Korea Asset Management -- the Korean unit of the Australian financial group -- as fund manager. The failed ouster has been referred to as the first instance of shareholder activism by a Korean company targeting an overseas firm. Among the shareholders who held

SoftBank Ventures launches new US$300m China fund

[THE INVESTOR] SoftBank Ventures Korea, venture capital arm of the Japanese tech giant, on Sept. 20 said it has established a new US$300 million fund in partnership with TPG Growth to invest in promising startups in China. The new fund, called China Ventures Fund I, will target early-stage startups in China in areas of artificial intelligence, deep tech, media and contents, among others. The fund will be managed by JP Lee, CEO of SoftBank Ventures Korea and TPG Growth Managing Director Jason Din

Samsung selects Smitomo as screen film supplier for foldable Galaxy

[ETNEWS] Sumitomo Chemical, a Japanese electronic materials firm, has been picked as the sole supplier of polyimide, or PI, films for Samsung Electronics’ first foldable smartphone, beating other rivals including Kolon Industries, according to sources on Sept. 19.PI, a transparent plastic film that protects the display placed underneath, is considered a core component of foldable smartphones for its flexibility as well as durability.Samsung’s first foldable smartphone, tentatively named Galaxy F

Reserve aims for crown in stable-value cryptocurrency sector

[THE INVESTOR] Price volatility has been pointed out as one of the biggest hurdles for cryptocurrencies to go mainstream. Stablecoin, a type of virtual currency with price stability, was created to eliminate the highly unstable characteristics of digital coins.Tether, whose value is pegged to the US dollar, is one of the best known stablecoins in the market. It has been, however, criticized for its opaque operations as the team has failed to successfully fulfil audits to prove they have actual U

Coworking operator SparkPlus raises W20b investment

[THE INVESTOR] Seoul-based coworking space operator SparkPlus on September 18 said it has raised 20 billion (US$17.73 million) in Series A round from local investors. Venture capital firms InterVest, STIC Ventures, Medici Investment, Mirae Asset Venture Investment, Wooshin Venture Investment and IBK Capital have joined SparkPlus’ first funding round. SparkPlus, jointly established by Aju Hotels & Resorts and accelerator SparkLabs, opened its first branch at Yeoksam Station, Seoul, in November 20

Samsung may ditch J brand to focus on A

[ET NEWS] Samsung Electronics is revamping its budget phone lineup, ditching the cheaper J brand, according to industry sources on Sept. 18. “Samsung is considering combining J and A brands to further strengthen the A series whose brand awareness has greatly improved in recent years,” a source told ET News on condition of anonymity.  Galaxy AThe A series is Samsung’s mid-tier brand that features some high-end functions of the flagship S series or Note despite its cheaper price tag. The J brand i

Celltrion clears manufacturing woes raised by FDA

[THE INVESTOR] Celltrion said Sept. 16 that the US Food and Drug Administration has given its OK to the Korean biopharmaceutical firm’s manufacturing facility after re-inspection, clearing a year-long problem that hampered the approval of its biosimilar products. The FDA classified the firm’s production site in Incheon as “voluntary action indicated,” in an Establishment Inspection Report, which summarizes its findings after inspection in July. The status means that “objectionable items were fou

Allergan plans to get FDA approval for Innotox in 2022

[THE INVESTOR] Allergan has confirmed it will soon begin pivotal phase 3 clinical trials of a liquid-type botulinum toxin it licensed from Korean biotech Medytox with hopes to get US marketing approval in 2022. During its Medical Aesthetics Analyst Day held in Dublin on Sept. 14, Allergan introduced the neurotoxin, originally developed by Medytox, as one of its key drugs that will drive future growth. “Allergan is developing a liquid formulation of noel neurotoxin, nivobulinumtoxinA, and plans t

Memebox launches new brand Kaja with Sephora in US

[THE INVESTOR] Memebox announced on Sept. 14 that it has launched a new K-beauty brand Kaja with US-based multi-brand cosmetics store operator Sephora.LVMH-owned Sephora, which has over 2,300 online and offline outlets in 33 countries, and Memebox signed a partnership deal in August and the new brand is their first collaboration together. The products will be sold through Sephora’s official website from Sept. 18 and will also be available in some of the US firm’s outlets from Sept. 28.The new br

Zikto’s Insureum coin listed on Coinzest

[THE INVESTOR] Korean insurtech startup Zikto said on Sept. 17 its Insureum coin has been listed on Korean crypto exchange Coinzest following its debut on Singapore’s CoinBene last month. Coinzest, established in June, is one of the fastest-growing exchanges. Its trading volume is 41,028.61 BTC in terms of Bitcoin -- the 10th largest -- according to market tracker Coinhills. Insureum is a blockchain-based platform that allows insurance firms, customers and app developers to exchange health care

Three chaebol chiefs join Moon’s Pyongyang trip

[THE INVESTOR] Chiefs of South Korea’s three biggest conglomerates -- Samsung, SK and LG -- will join President Moon Jae-in’s visit to Pyongyang this week as part of the 52-member presidential business delegation for the third inter-Korean talks this year, Cheong Wa Dae confirmed on Sept.16. The list of business delegates includes Samsung Electronics Vice Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won and LG Group Chairman Koo Kwang-mo, all of whom hold absolute authority to make investme

Samsung to sell diagnostic device unit to Japanese firm

Samsung unveils triple-lens smartphone Galaxy A7

SKINFOOD CEO to sell stake amid suffering biz

Samsung selects Smitomo as screen film supplier for foldable Galaxy

[EQUITIES] ‘Samsung’s semiconductor biz to remain on upswing’

Apple picks LG as new OLED supplier for iPhones

Celltrion clears manufacturing issues raised by FDA

Samsung Galaxy Note 9 tops European consumer ratings

Most Korean websites, O2O apps vulnerable to security breaches

Monthly Kakao Pay transactions to surpass W2tr

Kakao Games calls off IPO

[EQUITIES] ‘LG Innotek to slow down following new iPhone’

[EQUITIES] ‘EWK to gain significantly from Turkey entry’

SK Networks mulls acquiring AJ Rent-a-car

[EQUITIES] ‘GS E&C finds momentum in Vietnam’

Hyundai, Kia earn top IIHS safety ratings

Hankook Tire to supply tires to Nissan’s Altima sedan

Hyundai to provide 1,000 fuel cell trucks to Swiss company

Korean Air chief quizzed over embezzlement charges

Between, RockQ to run karaoke bar for couples

Buzzvil acquires No.1 lockscreen app in India, Pakistan

Bon Angels invests in tech edu firm Inflab

Naver invests in Malaysia-based e-commerce platform iPrice

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