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Oasis Acquires TMON After Court-Approved Rehabilitation

Oasis Acquires TMON After Court-Approved Rehabilitation

SEOUL, June 23 (Korea Bizwire) — South Korean grocery delivery platform Oasis Corp. said Monday it has acquired full ownership of e-commerce platform TMON after a court approved its rehabilitation plan, which included the acquisition proposal. TMON filed for court receivership in July last year following widespread delays in payments to vendors using its platform. [...]

Korean Biotech Firms Struggle as Drug Trials Fail, Triggering Liquidations and Layoffs

Korean Biotech Firms Struggle as Drug Trials Fail, Triggering Liquidations and Layoffs

SEOUL, June 18 (Korea Bizwire) — A string of clinical trial failures is putting severe financial strain on South Korea’s biotech sector, forcing some drug development firms into liquidation or restructuring as investor confidence continues to erode. On Tuesday, industry sources confirmed that OsteoNeuroGen, a pharmaceutical startup focused on treatments for idiopathic pulmonary fibrosis, will [...]

Inside Samsung’s High-Stakes Strategy Session as Global Uncertainties Mount

Inside Samsung’s High-Stakes Strategy Session as Global Uncertainties Mount

As geopolitical tensions rise and trade dynamics shift under Trump’s second term, South Korea’s tech titan confronts a pivotal moment. SEOUL, June 17 (Korea Bizwire) — Inside the boardrooms of Samsung Electronics this week, the air is thick with urgency. As the world’s largest memory chipmaker enters its crucial midyear strategy meetings, top executives are navigating [...]

KOTRA Holds Seminar In Malaysia To Support S. Korean Firms’ Local Investments

KOTRA Holds Seminar In Malaysia To Support S. Korean Firms’ Local Investments

SEOUL, June 16 (Korea Bizwire) — The Korea Trade-Investment Promotion Agency, better known as KOTRA, said Monday it has launched a seminar in Malaysia to support South Korean companies in making local investments and joining global semiconductor supply chains. KOTRA is co-hosting the two-day event in Kuala Lumpur starting Monday in collaboration with the Ministry [...]

Korea’s Petrochemical Industry Accelerates Restructuring Amid Oversupply and Weak Global Demand

Korea’s Petrochemical Industry Accelerates Restructuring Amid Oversupply and Weak Global Demand

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 [...]

Naver Unveils Plans for AI-Driven ‘Integrated Agent’ as Global Search Competition Heats Up

Naver Unveils Plans for AI-Driven ‘Integrated Agent’ as Global Search Competition Heats Up

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 [...]

South Korea’s AI Push Faces Reality Check as Industry Calls for Practical, Vertical Solutions

South Korea’s AI Push Faces Reality Check as Industry Calls for Practical, Vertical Solutions

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 [...]

LG Display To Invest 700 Bln Won In OLED Facility

LG Display To Invest 700 Bln Won In OLED Facility

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 [...]

Asset Sales at GM Korea Raise New Fears of U.S. Carmaker’s Exit

Asset Sales at GM Korea Raise New Fears of U.S. Carmaker’s Exit

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 [...]