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Naver Breaks Into the 10-Trillion-Won Club as Kakao Eyes a Comeback

Naver Breaks Into the 10-Trillion-Won Club as Kakao Eyes a Comeback

SEOUL, Jan. 19 (Korea Bizwire) —  Naver, South Korea’s leading internet platform company, is expected to surpass 10 trillion won ($7.6 billion) in annual revenue for 2024, setting a new record. According to financial projections compiled by Yonhap Infomax, Naver’s revenue for last year is estimated to have grown by 10.15% to reach 10.65 trillion won, [...]

South Korea’s Top Conglomerates Face Ballooning Corporate Debt Amid Rising Interest Rates

South Korea’s Top Conglomerates Face Ballooning Corporate Debt Amid Rising Interest Rates

SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s 10 largest conglomerates have nearly doubled their corporate bond issuance over the past two years to manage increasing financial burdens. However, with rising interest rates and tighter liquidity conditions, these firms face significant challenges in refinancing their debt, raising concerns about potential ripple effects in the country’s [...]

LG Electronics to Pursue Indian Subsidiary IPO, Announce Share Buyback Plan to Boost Shareholder Value

LG Electronics to Pursue Indian Subsidiary IPO, Announce Share Buyback Plan to Boost Shareholder Value

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 [...]

Korean Air-Asiana Merger Nears Reality, Promising Market Dominance and Raising Concerns

Korean Air-Asiana Merger Nears Reality, Promising Market Dominance and Raising Concerns

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 [...]

Samsung Bolsters Management to Navigate Semiconductor Slump and Broader Challenges

Samsung Bolsters Management to Navigate Semiconductor Slump and Broader Challenges

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 [...]

Hyundai Bolsters ASEAN Presence with $479 Million Investment in Malaysia

Hyundai Bolsters ASEAN Presence with $479 Million Investment in Malaysia

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 [...]

LG Electronics Unveils Major Reshuffle to Drive “Smart Life Solutions” Vision by 2030

LG Electronics Unveils Major Reshuffle to Drive “Smart Life Solutions” Vision by 2030

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 [...]

S. Korean Shipyards Anticipate Greater U.S. Biz Opportunities after Trump’s Call for Cooperation

S. Korean Shipyards Anticipate Greater U.S. Biz Opportunities after Trump’s Call for Cooperation

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 [...]