SEOUL, June 13 (Korea Bizwire) — South Korea’s petrochemical sector is ramping up restructuring talks, including potential consolidation of naphtha cracking center (NCC) facilities, as companies grapple with sustained oversupply from China and a prolonged global economic slowdown. The shift comes as the administration of President Lee Jae-myung prepares to roll out policy support for [...]
SEOUL, June 12 (Korea Bizwire) — Naver is doubling down on its push into generative AI-powered search, announcing the launch of a new “Integrated Agent” system aimed at delivering seamless, conversation-based search experiences that move beyond traditional keyword queries. At a press briefing held Thursday at its D2SF headquarters in Seoul, Naver outlined its vision [...]
Seoul, June 12 (Korea Bizwire) — As President Lee Jae-myung’s administration sets its sights on making South Korea one of the world’s top three artificial intelligence (AI) powers, a growing chorus within the tech industry is calling for a shift in focus — from grand-scale infrastructure projects to practical, sector-specific solutions that bridge the widening gap [...]
SEOUL, June 5 (Korea Bizwire) — LG Display Co., a global leader in display panel manufacturing, said Thursday it will invest 700 billion won (US$515 million) in its domestic organic light-emitting diode (OLED) production facilities. In September, LG Display sold its entire 80 percent stake in its large-size display panel and module plant in China’s [...]
SEOUL, May 29 (Korea Bizwire) — General Motors’ South Korean unit has announced plans to sell off domestic service centers and production facilities, fueling renewed speculation that the Detroit-based automaker may be preparing to wind down its presence in the country. On Thursday, GM Korea informed employees of its decision to divest nine company-owned service [...]
SEOUL, May 28 (Korea Bizwire) — South Korea’s energy giant SK Innovation Co. said Wednesday that its President Choo Hyeong-wook has been appointed the new chief executive officer (CEO) as part of a leadership reshuffle. Choo, 51, will succeed Park Sang-kyu, who has offered to resign from the post citing personal reasons, according to SK [...]
SEOUL, May 27 (Korea Bizwire) — As South Korea’s aviation industry braces for structural shifts and intensifying competition, domestic airlines are increasingly pursuing exclusive international routes to differentiate themselves and tap into niche travel markets, industry data shows. As of May 2025, Korean carriers operate 76 international routes without overlap from other domestic airlines — [...]
SEOUL, May 22 (Korea Bizwire) — South Korea’s internet giant Kakao Corp. said Thursday it has spun off Daum, the country’s second-largest internet portal, in a bid to revive the platform’s competitiveness amid a declining market share. During a board of directors meeting, Kakao approved the plan to spin off the in-house team managing Daum [...]
![[UPDATE] Samsung Biologics to Spin Off Bioepis Unit to Focus on CDMO Business](http://koreabizwire.com/wp/wp-content/uploads/2025/05/This-photo-provided-by-Samsung-Biologics-Co.-shows-the-companys-production-plant-in-Songdo-west-of-Seoul.-PHOTO-NOT-FOR-SALE-Yonhap.jpg "[UPDATE] Samsung Biologics to Spin Off Bioepis Unit to Focus on CDMO Business")
SEOUL, May 22 (Korea Bizwire) — Samsung Biologics Co., a biotech arm of South Korea’s Samsung Group, said Thursday it plans to spin off its biosimilar development business to streamline its operations and focus on its core contract development and manufacturing organization (CDMO) services. According to a regulatory filing, the company will establish a new [...]
SEOUL, May 20 (Korea Bizwire) — A growing wave of carve-out mergers and acquisitions (M&A)—in which large corporations sell off non-core business units—is reshaping the South Korean dealmaking landscape, with private equity (PE) firms emerging as key players. According to a recent report by the Korea Capital Market Institute, domestic conglomerates are accelerating portfolio streamlining in response [...]