SEOUL, Dec. 17 (Korea Bizwire) –LG Electronics unveiled its second corporate value enhancement program on Tuesday, outlining plans to pursue an initial public offering (IPO) for its Indian subsidiary and retire approximately 761,000 treasury shares by next year. This move follows the company’s first strategic announcement in October, which aimed to achieve a return on [...]
SEOUL, Dec. 7 (Korea Bizwire) – South Korea’s retail conglomerate Lotte Group said Friday it has picked a Hong Kong-based private equity fund for talks to sell its car rental arm for 1.6 trillion won (US$1.12 billion), marking its first major deal amid concerns over a potential liquidity crisis. Under the agreement, Lotte Group has selected [...]
SEOUL, Nov. 28 (Korea Bizwire) – With the European Union Commission granting final approval for the merger between South Korea’s two largest airlines, the nation’s aviation industry stands on the brink of a seismic shift that will create the country’s first “mega carrier.” The merger of Korean Air and Asiana Airlines promises better competitiveness through economies [...]
SEOUL, Nov. 28 (Korea Bizwire) – Samsung is reinforcing its management structure to address challenges stemming from the downturn in its semiconductor business, which has contributed to a broader corporate crisis. The move follows a leadership reshuffle in Samsung Electronics’ semiconductor division on November 27 and involves the strategic deployment of trusted executives, including former members [...]
SEOUL, Nov. 26 (Korea Bizwire) – In a significant push to expand its footprint in Southeast Asia, Hyundai Motor Company has announced a $479 million (approximately 673 billion won) investment in Malaysia. This strategic move aims to capitalize on the region’s burgeoning automotive market, with production beginning in mid-2024. Hyundai will collaborate with local partner Inokom [...]
SEOUL, Nov. 21 (Korea Bizwire) – LG Electronics Inc. on Thursday announced a large-scale business reorganization to enhance competitiveness and synergies as it aims to morph into a “smart life solutions” provider by 2030. The move is aimed at further strengthening the home appliance firm’s mainstay businesses and securing new growth drivers, the company said [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korean shipyards appear upbeat over potential opportunities to expand their business in America after U.S. President-elect Donald Trump’s call for more bilateral cooperation in the sector. In his phone conversation with South Korean President Yoon Suk Yeol following his election victory last week, Trump said the U.S. seeks to work [...]
SEJONG, Aug. 25 (Korea Bizwire) – POSCO Future M, the battery materials arm of the POSCO Group, is set to divest its entire stake in P&O Chemical, a joint venture with OCI, effectively exiting the business. According to industry insiders, POSCO Future M’s board is expected to meet on August 26 to approve the sale of [...]
SEOUL, Aug. 7 (Korea Bizwire) — The recent electric vehicle fire incidents involving Mercedes-Benz and Kia models could not have come at a worse time for the local automotive industry, which has been eagerly preparing to introduce ambitious new electric models to tackle the so-called EV adoption chasm. While waiting for the official investigation results, [...]
SEOUL, July 12 (Korea Bizwire) – SK Innovation and SK E&S, two key subsidiaries of the SK Group, are set to hold board meetings next week to discuss a potential merger, industry sources said on July 11. This move is part of SK Group’s ongoing business restructuring efforts and could result in the creation of a [...]