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 [...]
SEOUL, May 19 (Korea Bizwire) — South Korea’s leading food delivery app Baemin is teaming up with local streaming platform Tving to offer a bundled subscription service, in a move seen as a strategic response to growing competition from Coupang Eats, which operates its own streaming platform, Coupang Play. Woowa Brothers, the operator of Baemin, [...]
SEOUL, May 16 (Korea Bizwire) — Samsung Electronics is doubling down on cost-cutting measures within its television division as it continues operating under an emergency management system introduced last year to weather mounting industry pressures. According to industry sources, Samsung’s Visual Display (VD) division reaffirmed its internal austerity guidelines in a company-wide notice on May 12. [...]
SEOUL, May 14 (Korea Bizwire) — Samsung Electronics has made its biggest acquisition in nearly a decade, purchasing Germany-based FläktGroup for €1.5 billion (approximately 2.38 trillion won or $1.68 billion) in a move to aggressively expand into the fast-growing global heating, ventilation, and air-conditioning (HVAC) market. The deal, announced Tuesday, positions Samsung to capitalize on soaring demand [...]
SEOUL, May 8 (Korea Bizwire) — Samsung Electronics announced a major organizational overhaul on Thursday, establishing a dedicated AI Productivity Innovation Group within its Device Experience (DX) division as part of its push to transform into a fully “AI-driven company.” The move marks a significant step in Samsung’s efforts to embed artificial intelligence into its [...]
SEOUL, May 2 (Korea Bizwire) — Woori Financial Group Inc. got regulatory approval on Friday for the takeovers of two life insurance companies, on condition that the group faithfully implements its planned measures aimed at strengthening its internal control. The Financial Services Commission (FSC), the country’s financial regulator, approved Woori Financial’s takeovers of Tongyang Life [...]