LG Chem Ltd. on Wednesday signed an agreement with Saudi Arabia’s Alkhorayef Group to build a water treatment filter plant in the Middle Eastern country and to jointly invest up to 320 million riyal ($85.3 million) in the facility.The plant will produce reverse osmosis (RO)
14 HOURS AGO
South Korean tech giant Samsung Electronics Co. said on Tuesday it will adjust its memory chip product mix to increase the output of advanced memory chips for servers and storage systems to meet the growing demand for artificial intelligence (AI) devices.During a conference call
Apr 30, 2024 (Gmt+09:00)
South Korean financial services companies and construction firms are exposed to a combined 200 trillion won ($145 billion) worth of potential risks related to domestic real estate project financing, a big chunk of which is falling due between 2024 and 2025, according to Samjong K
Apr 30, 2024 (Gmt+09:00)
Creditors to Taeyoung Engineering & Construction Co. (Taeyoung E&C) gave the go-ahead to a debt workout program for the cash-strapped South Korean builder on Tuesday, under which Taeyoung E&C will sell some of its bad loans to a domestic investment firm.According to investment banking industry sources, IGIS Asset Management Co. will purchase 60 billion won ($43 million) of first-lien bridge loans collateralized by an office building p
19 HOURS AGO
COMPANIES
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EarningsOverseas projects boost Korean builders’ earnings; GS profit halvesLarge-scale overseas construction projects boosted major Korean builders’ quarterly results while lackluster domestic construction work, coupled with higher labor and raw material costs, hurt their profitability, government data showed.Accordin
Apr 30, 2024 (Gmt+09:00)
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Aerospace & DefenseHanwha Systems to build Jeju Hanwha Space CenterSouth Korea's Hanwha Systems Co. announced plans on Monday that it plans to establish the Jeju Hanwha Space Center in Jeju Special Self-Governing Province, focusing on the development, manufacturing, and testing of satellites.The facility, set to be
Apr 30, 2024 (Gmt+09:00)
1 Min read -
EarningsLG Chem exhibits bright outlook after first-quarter lossLG Chem Ltd., the parent of the world's second-largest battery maker LG Energy Solution Ltd., expects its business will improve in upcoming quarters on a recovery in demand for its high-value-added advanced material products after it reported a fall
Apr 30, 2024 (Gmt+09:00)
3 Min read -
Bio & PharmaJLK to supply medical AI solutions in IndonesiaSouth Korea’s JLK Inc., an AI-based stroke care platform maker, announced on Tuesday that it signed a business agreement with medical consulting firm PT Kind Communication to export medical AI solutions to Indonesia.Under the agreement, JLK wil
Apr 30, 2024 (Gmt+09:00)
1 Min read
Hidden Champions
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KOREAN INVESTORS
There is potential distress in the U.S. multifamily housing sector today. we believe there is a window of opportunity over the next 12-18 months for well-capitalized investors to take advantage of select distress opportunities and to exit when capit
Apr 30, 2024 (Gmt+09:00)
Seoul-based private equity firm STIC Investments is set to sell Coop Marketing, South Korea’s largest mobile coupon platform company that operates digital voucher systems for the country’s top online messenger Kakao Talk, shopping centers
Apr 30, 2024 (Gmt+09:00)
South Korea’s National Pension Service (NPS) will select domestic general partners (GPs) to manage about 1.5 trillion won ($1.1 billion) worth of investment this year, its biggest-ever external allocation also set to invest in high-default-risk
Apr 28, 2024 (Gmt+09:00)
South Korea’s second-largest insurer Hanwha Life Insurance Co., with 109 trillion won ($79.4 billion) in total assets as of end-September 2023, said on Wednesday it will buy shares in a banking unit of Indonesian conglomerate Lippo Group to exp
Apr 24, 2024 (Gmt+09:00)
South Korea’s National Pension Service (NPS), the world's third-largest pension fund, lost 1.66 trillion won ($1.2 billion) in domestic stock value in the first quarter of this year as shares in the battery sector tumbled amid the electric vehi
Apr 21, 2024 (Gmt+09:00)
M＆A
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E-commerceMBK to delist e-commerce Connectwave after tender offerApr 29, 2024 (Gmt+09:00)
1 Min read -
InsuranceKorea's Lotte Insurance up for sale for around $1.5 bnApr 23, 2024 (Gmt+09:00)
1 Min read -
Mergers & AcquisitionsBlackstone signs over $1 bn deal with MBK for 1st Korean exitApr 22, 2024 (Gmt+09:00)
2 Min read -
Real estateHanjin KAL to sell Waikiki Resort to Sono for $101 mnApr 19, 2024 (Gmt+09:00)
1 Min read
ECM/DCM
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E-commerceAlibaba eyes 1st investment in Korean e-commerce platformApr 22, 2024 (Gmt+09:00)
2 Min read -
Corporate bondsSK Chemicals' bond offering oversubscribed 8 timesApr 19, 2024 (Gmt+09:00)
1 Min read
MARKETS
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EconomyKorea’s factory output falters, but spending recovers
South Korea’s factory activity weakened in March on a fall in manufacturing output, stoking concerns about Asia’s fourth-largest economy despite a recovery in private consumption, which helped the economy grow at the fastest rate in over two years in the first quarter. According to data released by Statistics Korea on Tuesday, seasonall
Apr 30, 2024 (Gmt+09:00)
3 Min read -
Sovereign bondsS.Korea desperately seeks WGBI inclusion to rescue won
South Korea is desperately working for inclusion on a global major bond index to save the ailing won, the second worst-performer among emerging Asian currencies, by attracting up to $58 billion to the local debt market.Last month, FTSE Russell, the global index subsidiary of London Stock Exchange Group, decided to keep South Korea on the watch list
Apr 30, 2024 (Gmt+09:00)
2 Min read -
Foreign exchangeNH Investment, Woori Bank top in FX forecasting
Late last year, when the Korean won traded at 1,288 per dollar, most market analysts and economists predicted that the Korean currency would regain ground against the US dollar to the 1,200 level in the second quarter of this year from the low 1,300 level in the first quarter, but such widespread forecasts turned out to be wrong.Worse yet, it is ge
Apr 26, 2024 (Gmt+09:00)
3 Min read
South Korea’s top financial regulator is set to build a centralized digital system to strengthen the prevention of naked short-selling as the financial watchdog has detected an increase in the illegal practice by institutional investors over the past few years. The government measure comes after some global investment banks, such as The Hong
Apr 25, 2024 (Gmt+09:00)
CULTURE ＆ TRENDS
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HealthcareKorea’s rising medical tourism: Skin care, plastic surgeryApr 29, 2024 (Gmt+09:00)
2 Min read -
Korean gamesKorea’s Smilegate unveils new RPG Chaos Zero NightmareApr 22, 2024 (Gmt+09:00)
1 Min read
PERSPECTIVES
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The KED ViewLabor reform urged in Korea with higher wages than JapanMar 18, 2024 (Gmt+09:00)
2 Min read
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