Ik-Hwan Kim

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Articles

South Korea allows foreigners to trade treasuries via omnibus accounts

Jan 26, 2025 | kedglobal.com | Seok-Cheol Choi |Ik-Hwan Kim

South Korea has allowed foreign investors to trade South Korean treasury bonds via omnibus accounts under the names of global custodians or asset managers, elimintating the need to open separate accounts with individual asset managers. The Financial Supervisory Service (FSS) on Jan. 24 announced the abolition of the rule that required offshore bond investors to trade Korean treasuries fund-by-fund by opening separate securities accounts.
Regulator denies reporting MBK to prosecutors over Korea Zinc

Jan 9, 2025 | kedglobal.com | Ik-Hwan Kim

A senior Financial Supervisory Service (FSS) official on Thursday denied a report that the regulatory body has referred MBK Partners and Young Poong Corp. to prosecutors for an investigation into the allegations of using undisclosed consulting information on Korea Zinc for its takeover bid for the world's No. 1 zinc smelter. He said the media report, released on Wednesday, was groundless.
LG CNS to use IPO proceeds to buy foreign IT firm

Dec 9, 2024 | kedglobal.com | Ik-Hwan Kim

LG CNS Co., the information technology service unit of South Korea’s LG Group, plans to acquire a foreign IT company with the proceeds from its initial public offering planned early next year to use the firm as a springboard to its global expansion.
LS Group’s US magnet wire unit to go public with $1.4 bn value

Nov 18, 2024 | kedglobal.com | Ik-Hwan Kim

US magnet wire unit of South Korea’s leading electric power, materials and energy conglomerate LS Group is seeking an initial public offering (IPO) next year with an estimated corporate value of 2 trillion won ($1.4 billion), investment banking industry sources in Seoul said on Monday. Essex Solutions, wholly owned by Superior Essex Inc.
S.Korean firms’ rights issues poised for 12-year low

Nov 17, 2024 | kedglobal.com | Ik-Hwan Kim |Jeong-cheol Bae

The lackluster South Korean stock market and softening Korea won have put off domestic companies from raising money at home and pushed some of them to look abroad in search of funds. Companies listed on the Korean stock market have raised a total of 4.6 trillion won ($3.3 billion) in rights offerings so far this year, according to the Korea Exchange. For all of 2024, their rights issues are forecast to hit the smallest amount since notching 3.2 trillion won in 2012.
MBK’s Korea Zinc takeover attempt to spur search for white knights

Oct 27, 2024 | kedglobal.com | Ik-Hwan Kim

North Asia-focused private equity firm MBK Partner Ltd.’s attempt to take control of Korea Zinc Inc. and the country’s plan to require the cancellation of treasury shares are expected to spur local companies to seek white knights to protect their management rights. South Korea’s online giant Naver Corp., the flag carrier Korean Air Lines Co., chemical and auto parts maker KCC Corp.
HD Hyundai Oilbank to fully own HD Hyundai Cosmo for $104 million

Oct 25, 2024 | kedglobal.com | Ik-Hwan Kim

Saudi Aramco-backed HD Hyundai Oilbank Co. will acquire a 50% stake in money-losing HD Hyundai Cosmo Petrochemical Co. from Japanese petrochemical giant Cosmo Oil Co. for 145 billion won ($104.3 million) to fully control the petrochemical joint venture to stop the bleeding.
Align Partners calls on Doosan Bobcat to boost shareholder value

Oct 18, 2024 | kedglobal.com | Ik-Hwan Kim

Align Partners Capital Management Inc., a South Korean activist fund, has called on Doosan Bobcat Inc., a global construction machinery maker owned by Doosan Group, to implement measures to boost its shareholder value. According to investment banking industry sources on Friday, Align Partners on Wednesday sent a letter to Doosan Bobcat’s management, requesting to increase shareholder returns, including higher dividends, and sell non-core assets.
Hanwha, LG to support Korea Zinc in battle against MBK

Sep 23, 2024 | kedglobal.com | Woo-Sub Kim |Ik-Hwan Kim

South Korea’s Hanwha Group and LG Group are likely to help Korea Zinc Inc. fight against a takeover by MBK Partners Ltd. as the private equity firm’s acquisition is expected to jeopardize the conglomerates’ partnership with the global leading zinc and lead smelter for future businesses such as battery recycling.
LX Pantos founder’s son sells shares to LX International for $37 mn

Sep 15, 2024 | kedglobal.com | Ik-Hwan Kim

The only son of LX Pantos Co.’s late founder has unloaded his additional shares in the company to South Korean logistics-to-trading conglomerate LX Group’s trading arm LX International Corp. for 49 billion won ($37 million) amid the logistics firm’s delayed public listing. According to the Financial Supervisory Service (FSS), Koo Bennett, known as Koo Bon-ho in Korean, on Thursday sold his 5% stake of 100,000 shares in LX Pantos to LX International for 490,000 won each.