Electrical, Lighting Components

Samsung BioLogics to begin IPO process this week

Samsung BioLogics, a contract manufacturer of biologic drugs under Samsung Group, will apply for preliminary approval to begin its initial public offering process this week, the Korea Exchange said Monday. The South Korean drugmaker plans to submit its application to pursue am IPO on the country’s main bourse KOSPI on Thursday, the KRX said. Under this timeline, Samsung BioLogics will likely complete its public listing by November as scheduled. Samsung BioLogics declined to comment on the potential size of the IPO. [...]

Hyundai Heavy signs US$40m robot supply deal

[THE INVESTOR] Hyundai Heavy Industries announced on July 12 that it signed a US$ 40 million robot supply contract with the Chinese subsidiary of Taiwanese display producer Chunghwa Picture Tubes. Under the contract, Hyundai Heavy will supply about 300 robots designed for transporting LCD glass panels. The robots will be deployed at CPTF Visual Display’s plant in Fuzhou, Fujian province in southeastern China, by the second half of next year, the South Korean company said. Hyundai Heavy has been developing industrial robots [...]

amsung employees organize political group in US

[THE INVESTOR] A group of employees at Samsung Electronics’ US office formed a political action committee in 2015 to engage in activities such as fund-raising and providing support for politicians. Called Samsung Electronics America Inc. Political Action Committee, or Samsung America PAC, the group was formed late last year, and since then has raised around $17,000. Steve Merlis, a senior director of Samsung’s government relations and public policy division, along with an unspecified number of Samsung employees filed the application to [...]

Antitrust body rejects SKT's takeover bid: sources

Korea’s antitrust watchdog has rejected SK Telecom Co.’s bid to take over the country’s dominant cable TV operator, citing concerns about a negative impact on normal market competition, industry and government sources said Tuesday. SK Telecom, the top mobile carrier here, has sought to acquire CJ HelloVision Co., an affiliate of CJ Group, saying it hopes to raise its competitive edge as an all-round media platform operator. The merger, if realized, would make the company the leading service provider in 21 [...]

LG Electronics to announce earnings guidance on July 8

THE INVESTOR] LG Electronics is expected to announce its second-quarter earnings guidance on July 8. Local analysts estimate the company’s operating profit to stand at about 594.7 billion won (US$517 million). The Korean tech giant started releasing its quarterly earnings guidance since the first quarter this year. Analyst say that despite the lukewarm sales of its flagship smartphone G5, the company’s robust TV and appliance sales could make up for the operating loss of its mobile business division. The mobile division last week [...]

Samsung’s sales in China decrease for 3 years in a row

[THE INVESTOR] Samsung Electronics’ sales in China continued its downward spiral for the third consecutive year in 2015, according to a report released by the tech giant on July 3. The annual revenue in the Chinese market continued to decrease from 40.1 trillion won (US$34.9 billion) in 2013, 33 trillion won in 2014 and 31 trillion won in 2015, according to its sustainability report 2016, an annual report that provides information on the firm’s performance on economic, environmental, and social [...]

KOSPO expands in overseas market

Korea Southern Power, one of Korea’s public energy companies, is gradually breaking into the overseas market with its innovative technology and know-how. Late last month, KOSPO successfully made the first trial ignition in the Kelar gas power plant in Chile, where construction is still underway. The trial ignition, the first step after installing a gas turbine, is considered crucial as it indicates how a plant is well-connected. Since 2013, KOSPO has been building the Kelar gas power plant with a capacity [...]

Dayou Winia eyes Chinese electric cooker market

[THE INVESTOR ] Dayou Winia, a Korean electronics firm, has joined hands with Haier, one of China’s leading electronics makers, to jump into the Chinese market, The Korean firm, well known for its electric rice cooker and kimchi refrigerator brand Dimchae, said it has signed a memorandum of understanding with the Qingdao-headquartered electronics firm for a partnership to sell its electronic cookers in China. Dayou Winia’s Dimchae electronic rice cooker, which will be named Casarte Dimchae in China, will be available [...]

Samsung Electronics to lead Q2 earnings growth: analysts

[THE INVESTOR] Korea Inc. is expected to show steady growth in the second quarter but only if Samsung Electronics is included in the club. Local securities firms have revised up their projections for aggregate operating profit of 172 companies listed on the benchmark KOSPI to 33.83 trillion won (US$29.2 billion) as of June 22, up 1.67 percent from their forecast a month earlier. “The burden of KOSPI’s high valuation has been eased as major companies’ Q2 revenue forecasts have continuously increased [...]

Korea's dependence on coal-fired power output still high

Korea spent a record amount of money on coal-fired power generation last year, a nearly three-fold increase over a decade, indicating that the country’s dependence on the fossil fuel still runs high, industry data showed on Monday. According to the data compiled by the Korea Power Exchange, the country paid a total of 41.6 trillion won ($36.2 billion) to private power generators last year, down 6.2 percent from the previous year’s 44.4 trillion won, on the back of falling oil [...]