KOSPI | Jotup

KT&G CEO candidate Kyung-man Bang receives positive evaluations from major financial institutions

Retrieved on:

Monday, March 4, 2024

KRW, KOSPI, KT, Senior, Share repurchase, Shareholder, Multimedia, Brand management, Growth, Headquarters, Disclosure, Treasury, Morgan Stanley, Management

SEOUL, South Korea, March 4, 2024 /PRNewswire/ -- Major financial institutions, such as Morgan Stanley and Meritz Securities have recently published analyst reports offering positive evaluations of Kyung-man Bang, KT&G's CEO candidate. His official appointment is pending approval at the upcoming Annual General Meeting of Shareholders scheduled for March 28, 2024, as per the company's recent disclosure.

Key Points:

- Morgan Stanley and Meritz Securities expect Mr. Bang's appointment to drive growth in core business areas and strengthen shareholder returns
SEOUL, South Korea, March 4, 2024 /PRNewswire/ -- Major financial institutions, such as Morgan Stanley and Meritz Securities have recently published analyst reports offering positive evaluations of Kyung-man Bang, KT&G's CEO candidate.
Ultimately, the CEO Candidate Recommendation Committee selected Kyung-man Bang, the current Chief Operating Officer and Senior Executive Vice President of KT&G as the final CEO candidate on February 22, 2024.
The Governance Committee implemented open recruitment as one of the channels to form the CEO candidate pool, allowing individuals who meet the eligibility criteria to apply for the CEO position, and also accepted candidate recommendations from search firms.
Meritz Securities also issued an analyst report commenting that the company's long-term growth strategies and shareholder return policies would be strengthened once Mr. Bang is appointed CEO.

Investor Group Submits Value-Enhancing Shareholder Proposals for Consideration at Samsung C&T Corporation’s 2024 Annual General Meeting

Retrieved on:

Friday, February 2, 2024

Today, the Investor Group issued a letter to shareholders detailing the two value-enhancing proposals (the “Shareholder Proposals”) it has submitted for consideration at the Company’s 2024 Annual General Meeting of Shareholders (the “AGM”).

Key Points:

Today, the Investor Group issued a letter to shareholders detailing the two value-enhancing proposals (the “Shareholder Proposals”) it has submitted for consideration at the Company’s 2024 Annual General Meeting of Shareholders (the “AGM”).
The Investor Group encourages all stakeholders to visit www.UnlockSCTValue.com to share their views, sign up for important updates and learn about the proposals to help deliver enhanced value to SCT shareholders.
SCT possesses an exceptionally valuable portfolio of assets that includes strategic stakes in key Samsung group affiliates (notably Samsung Electronics and Samsung Biologics) and diverse business operations spanning areas such as Engineering & Construction and Trading.
This is equivalent to approximately 50% of annual FCF from operations (excluding Samsung Biologics) per SCT’s own estimates for FY 2023-2025.

Mr. Chong-Yoon Lim, Chairman of COREE Group emphasizes "Creative destruction and Healthcare 4.0" [New Year Message at X-Twitter SNS]

Retrieved on:

Wednesday, January 3, 2024

SNS, COVID, KOSPI, Coree, Health care, Hospital, Crash, Former, Psychological abuse, KOSDAQ, Pharmaceutical industry

Thank you and I wish you all a wonderful new year, and my condolences for many, many, sad and unhappy moments we share together.

Key Points:

Thank you and I wish you all a wonderful new year, and my condolences for many, many, sad and unhappy moments we share together.
The economic situation appears to be like a second pandemic, largely due to the healthcare spending, challenged industries and healthcare resources like hospitals and professional schools.
Two outdated social and institutional systems need to be creatively destructed or they may eventually crash down.
He stressed the need for gathering elite healthcare system developers who can bring this upgraded version to us.

Siebert Financial and Kakao Pay Mutually Agree to Terminate Stock Purchase Agreement

Retrieved on:

Tuesday, December 19, 2023

Professional Services, Payments, Other Professional Services, Technology, Finance, Banking, Accounting, SPA, KakaoPay, KOSPI, Cryptocurrency

Siebert Financial Corp. (NASDAQ: SIEB) (“Siebert”) and Kakaopay Corporation (KOSPI: 377300) (“Kakao Pay”) today announced that they have entered into a mutual agreement to terminate the previously announced Second Tranche Stock Purchase Agreement that they entered into on April 27, 2023 (the “SPA”).

Key Points:

Siebert Financial Corp. (NASDAQ: SIEB) (“Siebert”) and Kakaopay Corporation (KOSPI: 377300) (“Kakao Pay”) today announced that they have entered into a mutual agreement to terminate the previously announced Second Tranche Stock Purchase Agreement that they entered into on April 27, 2023 (the “SPA”).
Under the terms of the parties’ agreement, Kakao Pay will continue to own the 8,075,607 shares of Siebert common stock that it purchased from Siebert in May 2023, and retain its right under a separate stockholders’ agreement to designate one director to Siebert’s board of directors, subject to certain conditions.
Siebert will make a payment to Kakao Pay as a settlement fee, payable in installments beginning on March 29, 2024.
“After careful consideration we believe the decision to terminate the stock purchase agreement is in the long-term interest of Siebert and our stockholders.

Transparency & Fairness: Flashlight Capital Demands Overhaul on KT&G CEO Nomination

Retrieved on:

Thursday, December 7, 2023

Asset Management, Professional Services, Finance, Confidentiality, KOSPI, KT, LG, KRX, KT&G, Documentation, AGM, Letter, ALL, FCP, Management, Cryptocurrency

Flashlight Capital had sent a letter to the KT&G Board of Directors (the “Board”) on December 1, urging a fair and transparent CEO nomination process.

Key Points:

Flashlight Capital had sent a letter to the KT&G Board of Directors (the “Board”) on December 1, urging a fair and transparent CEO nomination process.
In its letter and video, Flashlight Capital pointed out various concerns regarding the previous CEO nominations.
Flashlight Capital expressed disappointment in the performance of the current CEO, Mr. Baek, who has held the position for three consecutive terms.
Sanghyun Lee, Managing Partner of Flashlight Capital, proposed three principles for a revamped nomination process:
Mr. Lee remarked, “The 11-day CEO nomination is unprecedented in Korea, standing out even among other former government-owned companies.

City of London Investment Management Company Ltd Publishes Letter to Board of Samsung C&T

Retrieved on:

Monday, November 6, 2023

Professional Services, Engineering, Other Construction & Property, Manufacturing, Finance, Construction & Property, Machinery, City, KOSPI, Annual general meeting, Share repurchase, CLIM, US, KRW, Letter, Samsung, Airline

City of London Investment Management Company Limited (“CLIM”) publishes on their website ( https://citlon.com/esg-clients ) today a letter sent to the Chairman of the Board of Samsung C&T Corporation (“Samsung C&T” or the “Company”) detailing proposals for a 2023 dividend of KRW 4,500 per ordinary share (2022: KRW 2,300) and a KRW 500 billion share buyback programme to run until the end of 2024.

Key Points:

City of London Investment Management Company Limited (“CLIM”) publishes on their website ( https://citlon.com/esg-clients ) today a letter sent to the Chairman of the Board of Samsung C&T Corporation (“Samsung C&T” or the “Company”) detailing proposals for a 2023 dividend of KRW 4,500 per ordinary share (2022: KRW 2,300) and a KRW 500 billion share buyback programme to run until the end of 2024.
CLIM intends to submit these proposals for shareholder consideration at the Company’s 2024 Annual General Meeting.
CLIM first invested in Samsung C&T in 2017 and regularly engages with the Company’s representatives, including members of the Board of Directors.
As at October 31, 2023, CLIM estimates that the share price discount to intrinsic value exceeded 66%, representing a shareholder value deficit of over KRW 34 trillion (US$25 billion).

Korean Unicorn APR Files for Preliminary IPO Review on KRX

Retrieved on:

Monday, September 25, 2023

Other Manufacturing, Professional Services, Manufacturing, Home Goods, Start-Up, Other Health, Health, Cosmetics, Retail, KRX, KRW, IPO, ATS, Korea Exchange, SOCAR, CJ, Prospectus, KOSPI, APR, Credit

APR , a beauty-tech company APR (CEO Byung-hoon Kim) announced today that it filed for a preliminary review on the Korea Exchange (KRX) on September 22.

Key Points:

APR , a beauty-tech company APR (CEO Byung-hoon Kim) announced today that it filed for a preliminary review on the Korea Exchange (KRX) on September 22.
With the application, APR begins its full-scale preparation for its initial public offering (IPO).
Then, through demand prediction, subscription, and other steps, it will go public on the main KOSPI market early next year.
Established in October 2014, APR is a global beauty-tech company performing in Korea and across the world based on its beauty device and brands.

Naver-backed AI startup Crowdworks to go public

Retrieved on:

Thursday, August 31, 2023

Since its founding in 2017, Crowdworks has been at the forefront of providing AI training data solutions through its ethical crowdsourcing approach.

Key Points:

Since its founding in 2017, Crowdworks has been at the forefront of providing AI training data solutions through its ethical crowdsourcing approach.
Crowdworks provided customized AI data services to more than 430 clients across various industries such as IBM, Uber, Delivery Hero, Samsung, LG, Hyundai Motors, for their AI model development.
These businesses turned to Crowdworks' services to secure high-quality AI training data, a crucial component for AI development endeavors.
Crowdworks is a leading AI training data solution provider that collects and annotates training data for AI development.

Naver-backed AI startup Crowdworks to go public

Retrieved on:

Thursday, August 31, 2023

Since its founding in 2017, Crowdworks has been at the forefront of providing AI training data solutions through its ethical crowdsourcing approach.

Key Points:

Since its founding in 2017, Crowdworks has been at the forefront of providing AI training data solutions through its ethical crowdsourcing approach.
These businesses turned to Crowdworks' services to secure high-quality AI training data, a crucial component for AI development endeavors.
Crowdworks is a leading AI training data solution provider that collects and annotates training data for AI development.
Founded in April 2017, Crowdworks aims to create an ecosystem where AI and humans can collaborate under the long-term vision of an "AI & Human Resources Platform."

Basgenbio to Present at the BIO International Convention 2023

Retrieved on:

Monday, June 5, 2023

Data Management, Health, Technology, Genetics, Clinical Trials, Pharmaceutical, Biotechnology, BIO, Inc., Partnership, DEEP, EMR, Infant, EDT, KOSDAQ, Clinical trial, KOSPI, Stomach, Fine chemical

Basgenbio Inc. , a clinico-genomic cohort data-based R&D company, has announced that the company will be presenting at the BIO International Convention 2023 (BIO USA) , which will be held in Boston, MA, USA, from June 5-8.

Key Points:

Basgenbio Inc. , a clinico-genomic cohort data-based R&D company, has announced that the company will be presenting at the BIO International Convention 2023 (BIO USA) , which will be held in Boston, MA, USA, from June 5-8.
The BIO International Convention is the world’s largest biotechnology and pharmaceutical partnering event, with participation from 4,900+ companies representing 60+ countries this year.
Basgenbio will deliver a company presentation to representatives from the global pharmaceutical and biotechnology industries, potential partners, and investors at 12:15 p.m. on June 8 (EDT).
During the BIO International Convention, Basgenbio plans to meet with over 30 existing and new partners to explore joint R&D opportunities and various types of business development based on its clinico-genomic cohort database.