August 21, 2018

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31 largest groups account for 66% of exports

[THE INVESTOR] Korea’s 31 largest groups accounted 66 percent of the total exports last year, according to the Korea Economic Research Institute on Aug. 20. Exports by a total of 186 listed companies belonging to the largest 31 groups under the Fair Trade Commission’s antitrust watch list took up 494 trillion won or 66.3 percent of the total exports of the country last year, up from 62.1 percent in 2016 and 63.7 percent in 2015. Large business group designated by the country’s antitrust watchdog

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 Display creates TF for foldable display

[ET NEWS] Samsung Display is speeding up preparations for the mass-production of foldable panels as it has recently created a task force solely dedicated to the brand-new technology, industry sources said on Aug. 20.The team was set up last month under the firm’s OLED product development division. About 200 employees were deployed from other research labs and business divisions within the company. The team leader is the current executive vice president of the OLED business division. He doesn’t s

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

Market slump raises doubts on Kosdaq revitalization initiative

[THE INVESTOR] Concerns have been mounting recently that despite the government’s continued efforts, the secondary stock market Kosdaq may continue to struggle throughout the year due to sluggish investor sentiment here and external trade challenges.　The Kosdaq index on August 16 dived into the 740s, nearing the year’s record-low of 744.11, a figure observed on July 25, according to the nation’s bourse Korea Exchange and Ministry of SMEs and Startups on August 19. The index soon rebounded to the

When startups are nipped in the bud

[THE INVESTOR] With widespread internet connectivity, high receptiveness to new technologies and a trend-conscious public, South Korea is arguably the optimal market for startups to introduce and test new tech-based services.　 　Despite these opportunities, however, Korea can also be one of the most challenging places for startups due to rigid regulations that often shut down or limit the growth of new business models, such as those in high-growth sectors like smart mobility and financial technol

Strong Q2 backs DoubleU Games’ plan to move to Kospi

[THE INVESTOR] Listed game software developers in South Korea suffered lackluster performance in the second quarter this year due to sparse new releases coupled with external uncertainties.　Moreover, analysts have considered the second quarter a typically low season for the gaming industry.　This downtrend makes social casino game developer DoubleU Games’ earnings surprise in the quarter stand out. It not only pushed the stock price upward, but also made the case for the aim to transfer its stock

FSS announces tougher disclosure rules for biotech stocks

[THE INVESTOR] The Financial Supervisory Service on Aug. 17 announced strengthened disclosure requirements for biotechnology and pharmaceutical companies starting with their third-quarter earnings reports. The aim is to help investors obtain a more accurate picture of their business. “The purpose of these measures are to make them present detailed information in their disclosure reports in a systematic manner after we found that many pharma and biotech companies aren’t properly disclosing the un

Gov’t decides not to cancel Jin Air license

[THE INVESTOR] The government said on Aug. 17 that it has decided not to revoke Jin Air’s license, ending weeks of business uncertainty for the budget affiliate of Korean Air Lines over its illegal appointment of a foreign national to its board of directors.Under the aviation law, only Koreans can be registered as a director of an airline. The company, however, appointed Cho Hyun-min, an American citizen and the younger daughter of Korean Air Chairman Cho Yang-ho, to serve as a board member of J

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

[THE INVESTOR] LG Electronics is expected to showcase the world’s largest micro LED TV at the IFA electronics trade show, which will be held later this month, according to news reports on Aug. 17.LG’s first micro LED TV is anticipated to be around 175 inches in size, larger than Samsung’s 146-inch Wall TV, which was unveiled at the CES trade show in January, according to a source quoted by local daily Segye Ilbo. The looming LG TV will also likely beat its rival in terms of thickness, as it will

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

Samsung’s Note 9 overwhelms S9 in preorder sales

National Pension Service at crossroads with lackluster returns

SM, JYP, YG shares jump on Q2 earnings

Foldable patent applications on rise in Korea

Samsung Display creates TF for foldable display

[EQUITIES] ‘JYP Entertainment remains on upswing’

LG Electronics to bolster audio biz through XBOOM

China beats America as biggest market for Samsung

Samsung, LG among most popular brands in Indonesia

Samsung aims to revitalize Chinese smartphone biz with Note 9

FTC unveils anti-graft measures for staff

[EQUITIES] ‘T’way to gain from Jin Air’s restrictions’

[EQUITIES] ‘Jin Air cleared of uncertainties’

[EQUITIES] ‘Nexen Tire’s Czech plant double-edged sword’

Hyundai invests in Indian car-sharing firm Revv

Hyundai Department Store, Amazon join hands

Asiana to cut back flight schedules to remedy delays

Korean biotechs’ drug candidates in phase 3 clinical trials

SoftBank Ventures leads W10b investment in Bepro11

[INTERVIEW] Making prototypes ‘easy as pie’

Mirae Asset, Naver invest US$150m in Grab

Neptune, Dunamu & Partners invest in blockchain gamemaker Memory

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