SEOUL, Jul. 23 (Korea Bizwire) — South Korea’s top financial regulator on Wednesday gave preliminary approval for the merger of two flagship banks of Hana Financial Group Inc., the country’s third-largest banking group by assets. Hana Financial had been pushing for the merger between Hana Bank and Korea Exchange Bank (KEB) since its acquisition of [...]
SEOUL, Jul. 22 (Korea Bizwire) — GS Home Shopping Inc., the retail affiliate of South Korean business group GS, is set to enter the Russian home shopping market by joining forces with state-run telecommunications firm Rostelecom PJSC, the two companies said Wednesday. GS Home Shopping Chief Executive Officer Huh Tae-soo and Rostelecom President Sergey Kalugin [...]
SEOUL, Jun. 29 (Korea Bizwire) — Shinhan Bank, South Korea’s third-largest commercial bank by asset, said Monday that it has concluded a deal to acquire a controlling stake in an Indonesian bank as part of its efforts to beef up its overseas presence. Under the contract, Shinhan Bank buys 75 percent in Centratama Nasional Bank [...]
YEONGAM, Jun. 3 (Korea Bizwire) — Hyundai Samho Heavy Industry (HSHI) and the Yeongam Health Center signed an MoU on June 3 to develop a clean work place without smoking by establishing a fund to support the project. Both sides will operate a fund of 15 million won (US$ 13,540), established by 150 people paying [...]
SEOUL, May 29 (Korea Bizwire) — Daum Kakao Corp., the operator of South Korea’s most popular messaging app KakaoTalk, said Friday it has acquired two Indonesia-based mobile platforms as part of its push for a global expansion. It signed an agreement with Path, a U.S. Internet service provider that runs its namesake social network service [...]
SEOUL, May 17 (Korea Bizwire) — POSCO Co., South Korea’s largest steelmaker, likely will sign a comprehensive cooperation deal with South Arabia’s sovereign wealth fund next month that includes the sale of a stake in its construction unit, industry sources said Sunday. POSCO was supposed to complete the deal with the Public Investment Fund (PIF) [...]
SEOUL, May 17 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical and battery maker, said Sunday that it has signed a deal to supply electric vehicle batteries to a major SUV company in China. Under the deal signed with Great Wall Motor, LG Chem will supply batteries for plug-in electric SUV models that [...]
SEOUL, May 15 (Korea Bizwire) — Daewoo International held a job fair solely to recruit personnel for the establishment of a domestic auto industry in Saudi Arabia, said the company on May 14. Saudi Arabian sovereign fund PIF (Public Investment Fund) has launched a project in an attempt to establish a domestic automobile manufacturer, and [...]
SEOUL, May 7 (Korea Bizwire) — On May 6, Naver, Korea’s largest search portal, signed a MoU with the National Police Agency Cyber Bureau in a bid to prevent cybercrimes. Within the first quarter of the year, Naver will provide a search widget that netizens can use to verify whether a phone number or account number [...]
SEOUL, Apr. 23 (Korea Bizwire) — South Korea’s top carrier Korean Air Line Co. said Thursday it has clinched an exclusive deal worth 100 billion won (US$92.33 million) with Airbus to supply aircraft parts for the European firm’s new jet airliner. With the latest contract, Korean Air will deliver sharklets, specialized winglets attached to the [...]