January 20, 2019

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Pearl Abyss works on mobile game for Samsung’s foldable smartphone

[THE INVESTOR] Korean game publisherPearl Abyss will likely roll out a specially tailored version of its hit MMORPG “Black Desert,” for Samsung Electronics’ upcoming foldable smartphone, according to sources on Jan. 18.The release schedule of the game has not been confirmed yet, but it could coincide with the launch of the long-awaited foldable phone in February. According to a source quoted by Korean news outlet Asia Today, half of the screen can be used when playing the mobile game, while the

Court rules in favor of Celltrion’s Truxima biosimilar

[THE INVESTOR] Korea’s leading biosimilar firm Celltrion announced on Jan. 18 that it has won a lawsuit over invalidating Samsung Biogen’s patent on Rituxan, a blockbuster drug for treating non-Hodgkin’s lymphoma. The court’s decision upholds the legitimacy of the previous ruling of the Intellectual Property Trial and Appeal Board, which also ordered the nullification of the patent.The lawsuit was filed because under the current law biosimilar makers must invalidate the patent of the original dr

Seoul picks SKT to test autonomous cars using 5G tech

[THE INVESTOR] Seoul City has chosen top mobile carrier SK Telecom as the main operator of its pilot project to test autonomous cars using 5G technology, according to sources on Jan 18. “The project will offer companies urban sites to intensively develop their technologies on real roads. SKT was selected as the eligible operator after evaluation by experts,” an official from the local government told The Investor.  (Seoul Metropolitan City)SKT will build smart infrastructure equipped with roadsi

KPBMA aims to make Korea pharma powerhouse

[THE INVESTOR] Korea’s largest biopharmaceutical business association announced on Jan. 17 that it aims to boost the local industry in 2019 and make it a global powerhouse.“This year, we must use all our capabilities to establish a foundation to become a global pharma powerhouse.” Korea Pharmaceutical and Bio-Pharma Manufacturers Association Chairman Won Hee-mok said during a New Year’s press conference in Seoul.  Korea Pharmaceutical and Bio-Pharma Manufacturers Association Chairman Won Hee-mok

KT, Hyundai Mobis to jointly test 5G-enabled cars

[THE INVESTOR] Telecom firm KT said on Jan. 17 that it will work with auto parts maker Hyundai Mobis to develop technologies for connected vehicles running the 5G network.As the first step, the telco has installed 5G facilities and devices at the Hyundai Motor Group subsidiary’s test-driving center in Seosan, South Chungcheong Province. The two companies had signed a memorandum of understanding in August. Deployment of the 5G network for a private company’s research project is the first of its k

Mirae Asset, Naver invest W56b in Indonesian e-commerce unicorn

[THE INVESTOR] Mirae Asset Capital and internet giant Naver have decided to invest 56 billion won (US$50 million) in Indonesian e-commerce startup Bukalapak, seeing its great potential, according to sources on Jan. 17.“We decided to invest in the e-commerce startup as it is one of the few that have shown exponential revenue growth since 2014,” a source from Mirae Asset Capital, affiliate of Mirae Asset Group, told The Investor.Bukalapak, meaning “open a stall” in Indonesian, was launched in 2010

Bukwang Pharma sells Anterogen shares worth W40b

[THE INVESTOR] Bukwang Pharmaceutical announced on Jan. 15 that is has sold its 7.11 percent stake, worth around 39.7 billion won (US$35.40 million), in Anterogen through an after-hours block deal.Anterogen, which was established in 2000 by former Bukwang Pharma CEO Lee Sung-gu, specializes in developing cell therapies. Bukwang invested in the firm when it was first established.When Anterogen was listed on the second-tier KOSDAQ bourse in 2016, Bukwang was the biggest shareholder with 28.78 perc

FSC head promises support and deregulation for fintech firms

[THE INVESTOR] The head of Korea’s financial regulator on Jan. 16 vowed to ease regulations and support the promotion of domestic fintech industry. “Based on the fintech infrastructure we built last year, 2019 will become a golden time to boost the fintech industry,” Financial Services Commission Chairman Choi Jong-ku said during a meeting with fintech executives. By the fintech infrastructure he was referring to new legislation and budget allocated for related companies. “We will lend our unlim

Kakao puts carpool beta service on hold indefinitely

[THE INVESTOR] Kakao Mobility, a subsidiary of Korea’s top mobile messenger operator, on Jan. 15 announced that it is putting its carpool beta service on hold to first talk things over with the infuriated taxi operators.　“We are open to scrapping the service,” the Kakao affiliate said in a statement, adding that the decision was made to establish grounds for a dialogue. “We prioritize cooperation with the taxi industry and creating a social consensus.” 　The move comes a month after the company d

Debt-ridden KNOC to sell UK-based Dana Petroleum

[THE INVESTOR] Troubled Korea National Oil Corp. is poised to sell more overseas assets -- this time, Dana Petroleum -- to cut down on debts and improve its financial health, industry sources said on Jan. 15. State-run KNOC, which has declared 2019 as “the year of emergency management,” is currently selecting a manager to sell 30 percent in UK-based Dana. It has received 10 proposals from investment banks including Goldman Sachs, JP Morgan and Morgan Stanley, the sources said. Considering Dana’s

KB Investment invests US$3m in US bio firm

[THE INVESTOR] KB Investment, an affiliate of KB Financial Group, announced on Jan. 15 that it has invested US$3 million in US-based bio firm Neuroptika.Established in December last year in Boston, Neuroptika was spun off from Japanese drug maker Senju Pharmaceutical, which was established in 1947. The company started developing new treatments at its lab in 2010, mainly for eye diseases. Sales last year reached around 37 billion yen (US$340.9 million), while posting 1.4 billion yen in operating

SKT joins forces with Samsung to challenge Apple’s iMessage, FaceTime

[THE INVESTOR] Korea’s largest mobile carrier SK Telecom on Jan. 15 launched a next-generation messaging service, called Rich Communication Services, which be first available on Samsung Electronics’ flagship models Galaxy S9 and S9+.Based on technical standards set by GSMA, a global association of telecom operators, the service allows users to send text messages, images and videos freely among mobile users of different mobile carriers.With SKT’s new messaging service, subscribers can send pictur

Woori Financial poised for M&A binge

Pearl Abyss works on mobile game for Samsung’s foldable smartphone

Vivozon plans to go public this year

Seoul picks SKT to test autonomous cars using 5G tech

Mobile game ‘Black Desert’ to land in Japan

Mirae Asset picked as preferred bidder for State Tower Namsan

The Face Shop acquires Avon plant in China

Samsung to launch Galaxy A8s in Korea this month

Kakao likely to show strong growth this year

[CES 2019] Korean display makers remain strong drivers of innovation: Merck KGaA CEO

Dawn delivery takes retail industry by storm

Orchestra PE reshuffles digital imagery firm Vision Holdings

SC Bank Korea gets W100b investment from parent firm

Regulator approves Shinhan’s takeover of Orange Life

KTB Investment & Securities denies brokerage takeover rumors

Mercedes-Benz to add EV, hybrid models to lineup

Lotte Chemical takes over Turkish engineered stone maker

SsangYong Motors to raise W50b for new car, facility investment

NPS to decide on Korean Air’s management intervention in Feb.

Experts urge exemption for startups from new VAC bill to curb red tape

Kakao Mobility’s woes over carpooling service expected to linger

SoCar receives W50b funding from VCs

More investment to the startups: Woori group chairman

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