SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s SK Group said Monday it has signed a partnership deal with the sovereign wealth fund of the United Arab Emirates (UAE) to establish a carbon credit market in Asia, as part of efforts to tackle climate change in the private sector. SK Group Chairman Chey Tae-won signed [...]
SEOUL, Jan. 15 (Korea Bizwire) — The head of Poshmark, a U.S. social commerce marketplace for fashion, has said the merger with South Korean tech giant Naver Corp. will give fresh growth momentum to both companies and help them grow into a global player in the world. “I’m really excited about our integration with Naver, [...]
SEOUL, Dec. 2 (Korea Bizwire) — As Korean dramas and films enthrall a wider global audience, entertainment giant Disney now looks ready to ride the Korean Wave to expand its presence in the thriving streaming market. Following streaming leader Netflix’s international success of “Squid Game,” more viewers from across the globe are watching Korean series [...]
SEOUL, Oct. 12 (Korea Bizwire) — Hyundai Motor Group said Wednesday it will invest 18 trillion won (US$13 billion) to apply an advanced software program to all of its vehicles and offer its customers regular software updating services. The South Korean carmaker has decided to make the massive software investment to launch most of its [...]
SEOUL, Oct. 12 (Korea Bizwire) — SK Trading International Co., a subsidiary of South Korean refiner SK Innovation Co., said Wednesday it has invested in a U.S. clean fuel company to bolster its green energy drive. The company did not disclose the amount of the investment in Infinium, a California-based startup that engages in the [...]
SEOUL, Oct. 11 (Korea Bizwire) — SK Innovation Co., South Korea’s largest oil refinery, said Tuesday it will invest 5 trillion won (US$3.54 billion) into its flagship Ulsan industrial complex to transform its fossil fuel energy-oriented business to a green energy and material company by 2027. “After building South Korea’s first refinery plant in Ulsan, [...]
SEOUL, Oct. 11 (Korea Bizwire) — Lotte Chemical Corp. said Tuesday it is acquiring a major stake in a leading South Korean copper foil producer for 2.7 trillion won (US$1.88 billion) as part of efforts to advance into the battery components sector. Lotte Chemical signed a stock purchase agreement to take over a 53.3 percent [...]
SEOUL, Oct. 4 (Korea Bizwire) — Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, said Tuesday it has acquired a U.S. auto auction dealer as it pushes to make inroads into overseas secondhand car markets. Hyundai Glovis said it has taken over a 100 percent stake in Greater Erie Auto Auction (GEAA), a [...]
SEOUL, Oct. 4 (Korea Bizwire) — South Korean internet portal giant Naver Corp. said Tuesday it will take over Poshmark Inc., a U.S. social commerce platform specializing in second-hand apparel trade, for 2.3 trillion won (US$1.6 billion) in a bid to broaden its North American business. According to its filing, Naver has agreed to buy [...]
SEOUL, Sept. 15 (Korea Bizwire) — Air Premia Inc., a South Korean “hybrid” budget carrier, will operate five long-haul routes by the end of next year to compete with bigger rivals as travel demand recovers amid eased COVID-19 virus curbs, its CEO said Thursday. Air Premia will begin services on the Incheon-Los Angeles route from [...]