SEOUL, July 15 (Korea Bizwire) — The planned merger between two major South Korean streaming services Tving and Seezn is expected to shake up the landscape of the local market and stir up fiercer competition for original content, experts said Friday. Entertainment giant CJ ENM, which holds a majority stake in Tving, said the previous [...]
SEOUL, July 14 (Korea Bizwire) — SK Group Chairman Chey Tae-won has suggested possible changes or a delay in SK’s multibillion dollar investment plans for the next few years, citing higher borrowing and raw material costs. Chey made the remarks at a forum in Jeju this week, noting the effect of the global easy-money policy [...]
SEOUL, July 13 (Korea Bizwire) — POSCO International Corp. said Wednesday that Indonesia, Australia and Uzbekistan will be the company’s new “strategic markets” for future growth as it seeks to bolster investment in energy, food and other eco-friendly sectors. The trading unit of South Korean steel giant POSCO Holdings Inc. made the announcement as it [...]
SEOUL, July 13 (Korea Bizwire) – South Korean refiner SK Innovation Co. said Wednesday it has invested US$20 million in a U.S. biofuel company, as it accelerates its push for the shift to green energy businesses. The equity investment in Fulcrum BioEnergy Inc., a California-based producer of low-carbon fuels, represents additional backing by SK, South [...]
SEOUL, July 13 (Korea Bizwire) — SK Telecom Co., South Korea’s largest mobile carrier, said Wednesday it was in talks with major overseas telecom operators to start rolling out its metaverse platform ifland in North America, Europe and other regions later this year. The announcement was made a day ahead of the one year anniversary [...]
SEOUL, July 12 (Korea Bizwire) — A push by Kakao Corp. to sell part of its shares of Kakao Mobility Corp. to a private equity fund has drawn strong protest from its labor union, which criticized the South Korean tech giant for neglecting its corporate social responsibility. Kakao, which currently owns a 57.5 percent stake [...]
SEOUL, July 11 (Korea Bizwire) — South Korean drug companies and biotech firms are stepping up to advance environmental, social, and governance (ESG) management following the coronavirus pandemic and concerns over global warming. SK Bioscience Co. said in its ESG report published last month for the first time since its establishment that it had generated [...]
SEOUL, July 8 (Korea Bizwire) — South Korea’s leading chemicals maker LG Chem Ltd. said Friday it has issued global green bonds worth US$300 million to help bolster the competitiveness of its battery materials business and finance more investments in eco-friendly businesses. The parent company of major battery maker LG Energy Solution Ltd. said the [...]
SEOUL, July 8 (Korea Bizwire) — SD Biosensor Inc., a South Korean developer of COVID-19 test kits, said Friday it will acquire U.S. diagnostic kit maker Meridian Bioscience Inc. for about 2 trillion won (US$1.53 billion) in an effort to bolster its overseas operations. Through a consortium formed with SJL Partners LLC, a private equity [...]
SEOUL, July 5 (Korea Bizwire) — South Korean food maker CJ CheilJedang Corp. said Tuesday it will expand into the European market with a sales target of 500 billion won ($US384 million) by 2027. The announcement came two months after the South Korean food maker opened an office in London to begin full-scale efforts to [...]