Hanil Cement

{{Infobox company

| name = Hanil Cement

| logo = Hanil Cement.svg

| caption =

| type = Public

| traded_as = {{kse|300720}}

| genre =

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| predecessor =

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| foundation = {{start date and age|1961}}

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| location_city = Seoul

| location_country = South Korea

| location =

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| area_served = Worldwide

| key_people = Ki Ho Hur (Chairman)

| industry = Cement

| products = Cement

| services =

| revenue = Won 1,377,334 million (2015)

| operating_income = Won 120,632 million (2015)

| net_income = Won 64,884 million (2011)

| aum =

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| homepage = {{URL|http://www.hanil.com}}

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}}

Hanil Cement Co, Ltd. Korean: 한일시멘트(Hanja: 韓一-) is a cement, concrete and chemical company headquartered in Seoul, Korea, established in 1961. It produces portland cement products and cement under the brand Remital.

History

Huh Chae-kyung founded Hanil Cement Co. in 1961,[https://www.hanilcement.com/en/html/about/ch_01.html History of Hanil Cement] as the second oldest cement company in South Korea.[https://koreajoongangdaily.joins.com/news/article/article.aspx?aid=2927515 Hanil looks to cement solid global future, October 24, 2010, Joongang Daily]

Acquisition of Hyundai Cement

In 2007, a consortium of Hanil Cement and LK Investment Partners acquired a controlling stake of 84.56 percent stake or 14.17 million shares of Hyundai Cement from 32 creditors[https://pulsenews.co.kr/view.php?year=2017&no=482425 Hanil Cement completes buyout of Hyundai Cement to rank No.1 in Korea Pulse News, 2017.07.18] The two companies formed HLK Holdings, a special purpose company, to acquire the shares.[https://www.cemnet.com/News/story/162111/hanil-completes-acquisition-of-hyundai-cement.html Hanil completes acquisition of Hyundai Cement International Cement Review 19 July 2017]

Price Fixing

South Korea's Fair Trade Commission (FTC) fined Hanil Cement with 44.6 billion won which has colluded to rig the prices of cement products by controlling output and market share in 2011.{{Cite web|url=https://www.koreatimes.co.kr/www/biz/2018/11/488_194663.html|title = Six cement makers fined for price rigging|date = 5 January 2016}}

Price Manipulation Investigation

In July 2020, the special judicial police squad of the Financial Supervisory Service (FSS) of South Korea raided the headquarters of Hanil Cement and the house of Huh Gi-ho, co-chief executive of Hanil Holdings Co. The FSS charged that for the merger of Hanil Holdings' daughter company, HLK Holdings and Hanil Cement,[https://www.smartkarma.com/home/daily-briefs/brief-multi-strategy-korea-ma-spotlight-a-merger-between-hanil-cement-hlk-holdings-and-more/ Brief Multi-Strategy: Korea M&A Spotlight: A Merger Between Hanil Cement & HLK Holdings and more, Smartkarma Daily Briefs, May 15, 2020] Hanil Holdings and Mr. Huh Gi-ho leveraged insider information to manipulate the stock prices in order to gain the greater control of the combined company.[https://pulsenews.co.kr/view.php?sc=30800028&year=2020&no=728993&_ga=2.172870826.864983520.1595162997-1102325244.1589747752 Korean financial watchdog raids Hanil Cement offices in stock manipulation probe, Pulse News, 2020.07.16]