British activist fund takes aim at SK to unlock value

London-based activist investor Palliser Capital is on its way to challenge South Korean chip-to-energy conglomerate SK Group, having secured a stake of over 1 percent in its investment arm SK Square. Having built a stake in SK Square over the past two years, the British activist fund is pushing for changes in the company to improve its market valuation, according to a report from the Wall Street Journal. Though SK Square is the holding company of the group’s key chip-making affiliate SK hy

Oct. 16, 2024

KT&G calls W2tr buyout offer ‘unilateral’

Singapore-based activist fund Flashlight Capital Partners has offered to acquire Korea Ginseng Corp., an affiliate under South Korea's dominant tobacco company KT&G, at the price of nearly 2 trillion won ($1.47 billion). KT&G called it a “unilateral” offer. Korea Ginseng Corp., under the wings of KT&G, is the company behind the well-recognized red ginseng brand, JungKwanJang. “The acquisition offer was unilaterally released without any discussion with the compa

Oct. 14, 2024

Tender offer closes for Korea Zinc, signaling prolonged proxy fight

The alliance of MBK Partners and Young Poong took the lead in the power struggle over Korea Zinc, the world's largest zinc smelter, securing an additional 5 percent stake in the company on Monday. Yet with Korea Zinc's separate tender offer lingering on the table, the conflict is likely to evolve into a prolonged proxy fight. The MBK-Young Poong coalition was able to secure over 5 percent stake in Korea Zinc through a tender offer that concluded Monday. Combined with the existing 33.1

Oct. 14, 2024

Korea Zinc goes all in to fend off takeover

The current management of Korea Zinc on Friday decided to up the ante to maintain control over the world’s largest zinc smelter, lifting the tender offer price to 890,000 won ($660) per share, higher than 830,000 won presented by the coalition of MBK Partners and Young Poong. While the current management of Korea Zinc, represented by Chairman Choi Yun-beom, initially targeted securing an additional 15.5 percent of the total issued shares, the target has been raised to 17.5 percent. Adding

Oct. 11, 2024

BOK cuts key rate by quarter point to 3.25%

South Korea's central bank lowered the policy rate by 0.25 percentage point on Friday, signaling the end of an era of monetary tightening that had extended over three years. The Bank of Korea’s monetary policy board slashed the base rate by 25 basis points, bringing it down to 3.25 percent. Five of the other six monetary policy board members, not including BOK Gov. Rhee Chang-yong, agreed to the rate cut, while the remaining member suggested maintaining the rate at the 3.5 percent lev

Oct. 11, 2024

Bain's backing could be costly for Korea Zinc: sources

While Korea Zinc has secured the support of US private equity giant Bain Capital amid a battle for management control of the company, market watchers suggest its backing could eventually cost the troubled zinc smelter a hefty amount. To thwart the takeover attempt from the MBK Partners-Young Poong alliance, the current management of Korea Zinc has teamed up with Bain Capital, a big-name investment company with over $185 billion (250 trillion won) in assets under management. Under Chairman Choi Y

Oct. 10, 2024

Korea added to key bond index

South Korea finally succeeded in joining the World Government Bond Index, a global benchmark measuring the performance of sovereign fixed income. The inclusion is expected to draw in passive foreign funds worth over $56 billion. The WGBI, managed by Financial Times Stock Exchange Russell, is one of the three key government bond indices, along with the Bloomberg-Barclays Global Aggregate Index and JP Morgan Government Bond Index-Emerging Markets. It is tracked by global funds worth over $2.5 tril

Oct. 9, 2024

[Herald Interview] Dentlink eyes becoming 'next Invisalign’

Dentlink intends to become a household name in the burgeoning dental prosthetic market, matching the fame of Align Technology, the US company behind the Invisalign clear teeth straightener, said Kook Jin-hyeok, founder and CEO of Innovaid. Kook founded Innovaid in 2021 to offer Dentlink, a unique international service connecting Korean lab technicians with overseas dental practices. Through it, dental clinics around the world can order prostheses such as zirconia crowns and implant restorations

Oct. 8, 2024

Money Festa 2024 offers investment tips in uncertain market

Herald Media Group hosted Money Festa 2024 last week, a two-day event offering insights into the latest investment trends spanning from real estate to equity, shedding light on making wise investment decisions to achieve financial freedom. "Everyone dreams of a financially-free life, but the reality is harsh," Choi Jin-young, CEO of Herald Media Group, said in his opening speech at The Platz exhibition hall in Coex, southern Seoul, on Oct 1. "I hope the attendees can find the answ

Oct. 6, 2024

Fight over Korea Zinc becomes game of chicken

The fight for management control of Korea Zinc, the world’s largest zinc smelter, has escalated into a game of chicken worth over 5 trillion won ($3.7 billion). As the bidding war heats up, its would-be controllers are at risk of falling prey to a “winner’s curse.” On Friday, the last day of the initial tender offer period launched by private equity fund MBK Partners and Young Poong, the biggest shareholder of Korea Zinc, the coalition raised its offer to 830,000 won per

Oct. 6, 2024