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Viva Republica’s Valuation at Over 8 tln Won in Additional Funding

Viva Republica’s Valuation at Over 8 tln Won in Additional Funding

SEOUL, June 23 (Korea Bizwire) — Viva Republica Inc., the operator of popular South Korean financial app Toss, said Wednesday it has raised 460 billion won (US$407.5 million) in its latest funding with a valuation at 8.2 trillion won. The latest funding boosts Viva Republica’s valuation by nearly three times since its previous funding in [...]

Low-cost Carriers Take ‘Second Jobs’ amid Travel Slump

Low-cost Carriers Take ‘Second Jobs’ amid Travel Slump

SEOUL, June 22 (Korea Bizwire) — With airlines continuing to struggle with the aftermath of the coronavirus outbreak, low-cost carriers are beginning to take on ‘secondary jobs’. Jeju Air Co., South Korea’s biggest budget carrier by sales, is running an ‘in-flight meal cafe’ at a shopping mall complex in Seoul’s Hongdae area until July 28. [...]

Hanon Systems Receives Preliminary Bids for Controlling Stake from Foreign Firms

Hanon Systems Receives Preliminary Bids for Controlling Stake from Foreign Firms

SEOUL, June 22 (Korea Bizwire) — French automotive parts maker Valeo and three other foreign firms have submitted preliminary bids for a controlling stake in automotive thermal management systems and automotive parts maker Hanon Systems, while local players have decided against the move, sources said Tuesday. Valeo, a key rival of Hanon Systems, and German [...]

Hyundai Motor Buys U.S. Robotics Firm from Softbank for US$880 mln

Hyundai Motor Buys U.S. Robotics Firm from Softbank for US$880 mln

SEOUL, June 21 (Korea Bizwire) — Hyundai Motor Group said Monday its three affiliates and its chief have acquired a controlling stake in U.S.-based robotics firm Boston Dynamics, Inc. for US$880 million. The investment is part of the South Korean automaking group’s broader plans to strengthen its competitiveness in future mobility solutions. In December, the [...]