August 22, 2018

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Memebox signs partnership deal with Sephora

[THE INVESTOR] Korea’s beauty startup Memebox announced on Aug. 20 that it has signed a partnership deal with US-based multi-brand cosmetics store operator Sephora.LVMH-owned Sephora currently has over 2,300 online and offline outlets in 33 different countries, including Europe, US and China. “Sephora highly evaluated Memebox’s potential to grow and compete in the global markets and decided to form a partnership with us,” a company official said in a statement. “By cooperating with Sephora, we w

Joonggonara receives W5b investment from JB Woori Capital, Kiwoom Securities

[THE INVESTOR] Joonggonara, Korea’s biggest marketplace for secondhand goods, on Aug.21 said it has received 5 billion won (US$4.47 million) in investment from JB Woori Capital and Kiwoom Securities. JB Woori Capital, which has injected 3 billion won, is participating as a strategic investor to conduct joint businesses with Joonggonara in various areas, including used car operations. When combining the latest fund and the Series A round of 8 billion won in 2015, Jonggonara has accumulated 13 bil

Costco Korea may ditch 18-year partnership with Samsung Card

[THE INVESTOR] Costco Korea is likely to replace its credit card partner after an 18-year relationship with Samsung Card, according to Seoul Economic Daily on Aug. 20. The Korean unit of the US discount wholesaler has reportedly recently named Hyundai Card as a preferred bidder to become its exclusive credit card issuer.The nation’s top four card firms, including Shinhan, the largest with 21.53 percent market share, Samsung with 19.8 percent, Hyundai with 15.58 percent and Kookmin with 15.43 per

ToolGen to relist on KOSDAQ

[THE INVESTOR] ToolGen, Korea’s biotech specialized in genome editing, is expected to be the first biotech firm to be listed on the secondary KOSDAQ under the so-called “Tesla standards,” a relaxed listing rule for promising companies that have not posted significant profits. ToolGen, the largest KONEX-listed firm with 809.7 billion won (US$724 million) in market cap, plans to move its shares to the KOSDAQ market by submitting applications to the Korea Exchange for a preliminary review this mont

YD Global Life Science set to begin phase 2a trials of diabetic retinopathy drug

[THE INVESTOR] YD Global Life Science said on Aug. 21 it has received approval from the US Food and Drug Administration to initiate phase 2a clinical trials of YD-312, its drug candidate to treat diabetic retinopathy. “We are pleased to win clinical study approval for the diabetic retinopathy therapy following the green light for phase 2a clinical trials of YD Global Life Science’s diabetic macular edema treatment by the FDA in April,” CEO Lee Jin-woo said.Diabetic retinopathy is the most common

Samsung butts heads with LG in clothing care system market

[THE INVESTOR] The market for clothing care systems is a relatively untapped field, with only a few home appliance makers in Korea competing, including LG Electronics.But with Samsung Electronics poised to enter, the market is expected to become more crowded and competitive than before starting this year. Samsung is scheduled to unveil its first garment care system in Cheongdam-dong, a posh district of Seoul on August 21. Kim Hyun-seok, CEO of Samsung’s home appliance division　Reflecting the imp

Daewoong’s Nabota gets sales approval in Canada

[THE INVESTOR] Daewoong Pharmaceutical said on Aug. 20 it has received marketing approval from Canadian health authorities in less than a year after it applied for one for its botulinum toxin Nabota.With the decision, Nabota will become the first such drug developed by a Korean firm to enter Canada. In July last year, Daewoong filed for regulatory approval for the Botox-like injectables for treating glabellar lines. Shares of Daewoong rose 2.89 percent on the announcement. “Receiving the authori

Mirae Asset Daewoo invests W110b in Four Seasons hotel in Hawaii

[THE INVESTOR] Korean securities firm Mirae Asset Daewoo has invested 110 billion won (US$98.23 million) in the luxury Four Seasons Resort Hualalai in Hawaii, according to industry sources on August 20. Earlier this year, Mirae decided to take over the loan of 110 billion won in the resort owned by MSD Capital and Lake Avenue Investments through refinancing. MSD Capital is an investment vehicle of Dell founder Michael Dell and family. Four Seasons Resort HualalaiMirae will inject 40 billion won

Samsung showcases first garment refresher AirDresser

[THE INVESTOR] Samsung Electronics showcased its first clothing refreshing solution AirDresser on Aug.21 as it looks for new opportunities in a relatively less competitive segment compared to smartphones and TVs.Only a few companies in Korea, such as LG Electronics, produce electronic wardrobe appliances that promise to remove odors and wrinkles with just steam. Samsung introduced the AirDresser as a garment refresher rather than a clothing care system to differentiate the new appliance from exi

Smart hearing aid startup Olive Union raises W500m funds

[THE INVESTOR] Smart hearing aid startup Olive Union said on Aug. 20 that it has raised 500 million won (US$445,590) funding from Japanese social enterprise LitaLico.The investment comes after a previous fundraising campaign on US crowdfunding platform Indiegogo last year, through which the Korean startup attracted preorders worth 1 billion won for its budget smart hearing aid Olive.  Owen Song(left), CEO of Olive Union, and Atsumi Hasegawa, CEO of LitaLico“We are grateful that Olive Union’s tec

Foldable patent applications on rise in Korea

[THE INVESTOR] Korean tech giants are competitively filing patents related to foldable panels in a move to make a breakthrough in the smartphone industry slowed down by limits of hardware innovation.　Over the last six years, a total of 276 patents related to foldable panels were applied for in Korea, with 210 patents filed in the last three years, according to the Korean Intellectual Property Office on August 19. LG Display has applied for the highest number of patents (94), followed by its riva

Sulbing’s plans to takeoff overseas face strong headwinds

[THE INVESTOR] Korean dessert cafe franchise Sulbing has some ambitious plans for this year. “We’re aiming to open 40 stores by the year-end,” the firm said in a statement on Aug. 8 as it announced its first outlet in Cambodia. “We are confident of attracting global customers with our know-how for making Korean desserts.”On the opening day in Cambodia, its outlet attracted over 300 local customers, according to the company. Sulbing also operates in seven other countries outside of Korea, includi

More than half of Note 9 preorder buyers pick 512GB edition

LG to launch world’s largest micro LED TV at IFA

Memebox signs partnership deal with Sephora

Costco Korea may ditch 18-year partnership with Samsung Card

National Pension Service at crossroads with lackluster returns

Mirae Asset Daewoo invests W110b in Four Seasons hotel in Hawaii

Samsung denies rumors it will enter auto biz

Samsung, LG set to lock horns on premium TVs, AI at IFA

Samsung’s mobile payment tool available in Africa

Samsung’s mobile CEO to visit India for Note 9

LG to showcase new editions of Tone headsets at IFA

[EQUITIES] ‘Shinsegae Int’l to continue rally’

[EQUITIES] ‘Innocean’s internal transaction issue not related to fundamentals’

Koreans’ overseas card spending drops in Q2

[EQUITIES] ‘Kakao to be boosted by subsidiaries’

Hyundai invests in Indian car-sharing firm Revv

Hyundai Department Store, Amazon join hands

FSS announces tougher disclosure rules for biotech stocks

Gov’t decides not to cancel Jin Air license

[INTERVIEW] When startups are nipped in the bud

SoftBank Ventures leads W10b investment in Bepro11

[INTERVIEW] Making prototypes ‘easy as pie’

Mirae Asset, Naver invest US$150m in Grab

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