Seok-Cheol Choi

South Korea

Journalist at The Korea Economic Daily

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Articles

IMM consortium owns 100% of Hyundai LNG Shipping; Stake stale eyed

3 weeks ago | kedglobal.com | Seok-Cheol Choi

A consortium of IMM Private Equity Inc. and IMM Investment Corp. has secured full ownership of Hyundai LNG Shipping, South Korea’s top liquefied natural gas (LNG) tanker operator, stoking speculation that a renewed sale of the LNG tanker operator could be on the horizon.
Korean financial firms face growing risks in overseas property investments

3 weeks ago | kedglobal.com | Seok-Cheol Choi

South Korea’s financial institutions are facing growing risks of their overseas real estate investments turning sour, government data showed on Friday. According to the Financial Supervisory Service (FSS), the balance of Korean financial firms’ overseas alternative investments stood at 55.8 trillion won ($38.8 billion) at the end of September 2024, of which 2.64 trillion won worth of property investments faced potential losses.
Hanwha Energy begins IPO process, key to 3rd-generation shift

1 month ago | kedglobal.com | Seok-Cheol Choi

Hanwha Energy Corp., wholly owned by Hanwha Group Chairman Kim Seung-youn’s three sons, has embarked on the process of going public – a move expected to accelerate the group’s transition to the third-generation leadership, according to investment sources on Tuesday. Hanwha Energy recently requested proposals for its initial public offering from domestic brokerage companies to pick lead managers, said the sources. The invited firms are expected to submit proposals as early as this week.
Seoul Guarantee Insurance to raise $124 million from IPO

1 month ago | kedglobal.com | Seok-Cheol Choi

Seoul Guarantee Insurance Co. (SGI) will raise 181.5 billion won ($124.2 million) through an initial public offering later this month in its second attempt to go public after calling off the previous IPO plan in 2023 due to tepid demand. The South Korean guarantee insurer announced on Tuesday that it set its IPO price at the bottom end of its indicative 26,000-31,800 won band, which was slashed by nearly 40% from its previous target value suggested in October 2023 to kindle investors' interest.
Lotte aims to take Lotte Global Logistics public by end-June

1 month ago | kedglobal.com | Seok-Cheol Choi

Lotte Group, grappling with a prolonged downturn in the petrochemical industry, plans to take Lotte Global Logistics Co. public by the end of June as part of the group's ongoing efforts to ease its liquidity shortfall. Investment banking sources said the logistics arm of the chemical-to-retail conglomerate is preparing to submit a securities report with the Korea Exchange as early as this month after finalizing its 2024 results.
Affinity Equity set to close $1.1 bn purchase of Lotte Rental

2 months ago | kedglobal.com | Seok-Cheol Choi

Affinity Equity Partners said on Friday that it will sign a definitive agreement on March 11 with Lotte Group to acquire a 56.2% stake in South Korea’s No. 1 car rental and leasing company Lotte Rental Co. for 1.57 trillion won ($1.1 billion). It will purchase the shares from Hotel Lotte Co. and Hotel Lotte Pusan Co.The acquisition price includes 211.9 billion won Affinity is set to inject to purchase new shares to be issued by Lotte Rental, to shore up the latter's financial strength.
CHA Biotech seeks to resume healthcare unit IPO after affiliates’ merger

2 months ago | kedglobal.com | Seok-Cheol Choi

CHA Biotech Co., South Korea’s leading stem cell therapeutics developer, plans to resume an initial public offering of CHA Healthcare Co., a medical center operator, after combining the affiliate with CHA Cares Co. a hospital facility management and patient care service provider. According to industry sources on Wednesday, CHA Biotech aims to complete the merger by the end of June 2026.
Hanwha Aerospace ups stake in Hanwha Ocean in $900 mn block deal

2 months ago | kedglobal.com | Seok-Cheol Choi

Hanwha Aerospace Co. will acquire an additional 1.3 trillion won ($900 million) worth of shares in Hanwha Ocean Co. from its sister companies through a block deal in March. The transaction is expected to tighten Hanwha Group Vice Chairman and heir apparent Kim Dong-Kwan’s control over the energy-to-defense conglomerate’s defense business.
PCB maker Isupetasys cancels M&A with carbon nanotube producer

Jan 28, 2025 | kedglobal.com | Seok-Cheol Choi

South Korean printed circuit board (PCB) maker Isupetasys Co. has withdrawn a 300-billion-won ($210 million) deal to buy Jeio Co., one of the country’s three carbon nanotube (CNT) producers, in the face of shareholders’ protest. In a regulatory filing on Jan. 23, Isupetasys said it had notified Jeio of the deal's termination after the seller failed to fulfill the obligations stipulated in their share purchase agreement. It did not specify what those obligations were.
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.