Mirae Asset Center 1
Scope
Date
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Private equity
Actis names Scott Choi as its first Korean partner
Private equity firm Actis LLP has promoted its Seoul office Chief Executive Scott Choi as a partner, the company said on March 7. Choi is the first ...
Mar 08, 2022 (Gmt+09:00)
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Electric vehicles
IONIQ 5, Niro February sales beat global EVs in Europe
Hyundai Motor Group’s electric vehicle sales in Europe are rapidly rising. Hyundai Motor Co.'s IONIQ 5, launched in Norway in May 2021, topped...
Mar 07, 2022 (Gmt+09:00)
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War in Ukraine
Hyundai shuts Russia car plant for 1 wk on parts shortages
Car production at Hyundai Motor Co.'s plant in Russia has been halted since March 1 as the Russia-Ukraine war further aggravated shortages of automo...
Mar 04, 2022 (Gmt+09:00)
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Korean startups
Bank of Wine: High-end wine investment in the form of digital assets
South Korea is the world’s second-most attractive wine market, outranked by only the United States, according to London-based consumer researc...
Mar 03, 2022 (Gmt+09:00)
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Alternative investments
Korean LPs name their 36 favorite alternative asset managers
KKR was chosen as the best private equity firm by South Korean institutional investors, a survey shows. Blackstone, Macquarie Asset Management and Are...
Mar 03, 2022 (Gmt+09:00)
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Future mobility
LG Elec signs 5G vehicle connectivity deal in Europe
LG Electronics Inc. has signed a deal on 5G vehicle connectivity with a European premium carmaker as the South Korean company is expanding its marke...
Feb 28, 2022 (Gmt+09:00)
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Pension funds
Adams Street, Benefit Street, Clearlake join NPS' PE managers
National Pension Service (NPS) of South Korea announced on Feb. 28 it selected Adams Street Partners LLC, Benefit Street Partners LLC and Clearlak...
Feb 28, 2022 (Gmt+09:00)
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Pension funds
NPS picks Allspring, BlackRock, Morgan Stanley for multi-assets in Q4
National Pension Service (NPS) of South Korea said on Feb. 28 it hired Allspring Global Investments LLC, BlackRock Inc. and Morgan Stanley Investm...
Feb 28, 2022 (Gmt+09:00)
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Pre-IPOs
SK Ecoplant raises over $800 mn from Korean PE firms
South Korea's SK Ecoplant Co. has raised a total of 1 trillion won ($830 million) from four domestic private equity firms, including 390 billion won...
Feb 28, 2022 (Gmt+09:00)
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Artificial intelligence
LG AI Research: Foundation of group’s long-term future
Artificial intelligence that composes music and creates images, a forecasting model that reduces the development period of customized anticancer dru...
Feb 27, 2022 (Gmt+09:00)
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Artificial intelligence
LG AI Research forms 'Hyperscale' AI alliance with 13 companies
LG AI Research unveiled an alliance network consisting of 13 corporations and organizations based in South Korea and abroad on Tuesday. There a...
Feb 23, 2022 (Gmt+09:00)
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Korean Investors
88% of Korean LPs want speedy capital deployment
Asset managers' track record and risk management are the most important factors for South Korean major limited partners when considering new partnersh...
Feb 23, 2022 (Gmt+09:00)
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Economy
Korea’s record household debt may hurt consumption
South Korea’s household debt hit a record on surging property prices, stoking concerns over a slowdown in private consumption in Asia’s ...
Feb 22, 2022 (Gmt+09:00)
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Carbon neutrality
US Novelis to build $53 mn aluminum recycle center in Korea
Novelis Inc., the world’s top aluminum recycler, is set to invest $53 million in another recycling and casting center in South Korea to meet t...
Feb 22, 2022 (Gmt+09:00)
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Mergers & Acquisitions
SK Ecoplant buys e-waste recycling firm for $1 bn
South Korea's SK Ecoplant Co. has acquired Singapore-based electronic waste (e-waste) disposal and recycling company TES Envirocorp Pte. Ltd for $1 ...
Feb 21, 2022 (Gmt+09:00)
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Korean Investors
92% of Korean LPs won't increase real estate exposure
Institutional investors of South Korea aim to increase their alternative assets, focusing on expanding private debt, according to a recent survey of...
Feb 21, 2022 (Gmt+09:00)
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Pharmaceuticals
Samsung Bioepis posts $1.26 billion in global biosimilar sales
Samsung Bioepis Co., a biopharmaceutical unit of Samsung Group, said on Friday that sales of its five biosimilar products in global markets, excludi...
Feb 18, 2022 (Gmt+09:00)
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Electronics
LG launches world’s first 42-inch OLED TV in UK at £1,399
South Korea’s LG Electronics Inc. has launched the world’s first 42-inch OLED TV, which the company said is ideal for game consoles such...
Feb 18, 2022 (Gmt+09:00)
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Banking & Finance
Korea’s record liquidity growth raises inflation, asset prices
South Korea’s money supply increased at the fastest pace in history last year, exceeding liquidity growth in the eurozone, which accelerated i...
Feb 17, 2022 (Gmt+09:00)
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Central bank
BOK’s mission impossible: To lower both inflation and govt bond yields
South Korea’s central bank is caught in a dilemma as it needs to raise interest rates to curb rising inflationary pressure in Asia’s fou...
Feb 15, 2022 (Gmt+09:00)
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Mergers & Acquisitions
PI Advanced up for sale in deal estimated at $1 bn
Seoul-based Glenwood Private Equity is putting a majority stake in South Korea's PI Advanced Materials Co., the world's largest polyimide (PI) film ...
Feb 15, 2022 (Gmt+09:00)
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Korean games
Smilegate’s Lost Ark becomes second most played game on Steam
Smilegate Entertainment Inc.’s Lost Ark has become the second most played game within a couple of days after its launch on Steam, the world&rs...
Feb 14, 2022 (Gmt+09:00)
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Korean startups
MBK, IMM to invest over $300 mn in Megazone Cloud
MBK Partners and IMM Private Equity will each be investing 200 billion won ($167 million) in Megazone Cloud Corp., the first South Korean business p...
Feb 13, 2022 (Gmt+09:00)
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Mergers & Acquisitions
GS ups spending to take control of botox maker Hugel
South Korea’s energy-to-retail conglomerate GS Group has increased its spending to become the largest shareholder in Hugel Inc., the country's...
Feb 13, 2022 (Gmt+09:00)
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Earnings
Kakao slips below Naver in Q4 revenue
South Korea’s tech giant Kakao Corp. reported 4Q revenue of 1.78 trillion won ($1.5 billion) in 2021, a 45% jump on-year. The figure is slight...
Feb 11, 2022 (Gmt+09:00)
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Sovereign wealth funds
KIC buys $1.9 mn worth of shares in crypto platform Coinbase
Korea Investment Corporation (KIC), managing $205 billion in assets as of the end-2021, has invested in US cryptocurrency exchange platform Coinba...
Feb 11, 2022 (Gmt+09:00)
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Pension funds
POBA taps former DB Insurance investment head as new CIO
Public Officials Benefit Association (POBA) of South Korea has named Huh Jang, former head of investment at DB Insurance Co. as its new chief inve...
Feb 10, 2022 (Gmt+09:00)
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Korean stock market
TIGER KEDI30 sells out initial net assets on first trading day
Korean individual investors injected 9.5 billion won ($7.9 million) in TIGER KEDI Innovator ESG30 ETF on Feb 8, an exchange-traded fund (ETF) trac...
Feb 08, 2022 (Gmt+09:00)
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Earnings
Hyundai Heavy's KSOE posts $1.1 bn loss in 2021
Korea Shipbuilding & Offshore Engineering Co. (KSOE), under Hyundai Heavy Industries Group, on Monday reported a bigger-than-expected operating ...
Feb 07, 2022 (Gmt+09:00)
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Pension funds
Korea Post to invest in overseas data centers and warehouses
Korea Post will increase its alternative investment from 13.6 trillion won ($11.3 billion) at the end-2021 to 16.7 trillion won ($13.9 billion) in 2...
Feb 07, 2022 (Gmt+09:00)