SEOUL, June 2 (Korea Bizwire) — Hyundai Steel Co., South Korea’s second-largest steelmaker, said Monday it is considering selling a division that produces caterpillar tracks at one of its domestic plants, amid a prolonged slump in the construction industry. The company is in talks with Daejoo.KC — whose business spans steel structures to auto components [...]
SEOUL, May 28 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Wednesday it will dispose of non-core assets and directly managed service centers as part of its efforts to sustain operations amid weak demand for its vehicles. In response to a rapidly evolving industry landscape and global business [...]
SEOUL, July 10 (Korea Bizwire) — SK hynix Inc. said Monday it was mulling selling a water processing facility to SK reit Co. to secure funds for future investment and enhance financial soundness. The world’s second-largest memory chip maker said the potential sale of the “non-core asset” to the real estate investment trust company, another [...]
SEOUL, Dec. 23 (Korea Bizwire) — Korean Air Lines Co., South Korea’s national flag carrier, said Thursday it will secure 557.8 billion won (US$470 million) through a property sale as part of its efforts to improve its financial status amid a prolonged COVID-19 pandemic. On Friday, Korean Air will sign a deal to sell its [...]
SEOUL, Aug. 23 (Korea Bizwire) – Samsung Electro-Mechanics Co., a major electronics parts maker in South Korea, is seeking to sell its Wi-Fi module business again, a company official said Monday, after its previous deal collapsed in May. “We are in talks with a potential buyer over the sale of our Wi-Fi module business,” the [...]
SEOUL, April 28 (Korea Bizwire) — SK Innovation Co., a South Korean refinery-to-battery maker, said Wednesday it has struck a deal to sell its 40 percent stake in a lubricant subsidiary to a Korean private equity fund for 1.1 trillion won (US$987 million) as it is seeking to secure funds for its battery business. SK [...]
SEOUL, March 31 (Korea Bizwire) — SK IE Technology Co. (SKIET), a battery materials subsidiary of SK Innovation Co., said Wednesday it will commence the initial public offering process for its Seoul bourse debut in May. SKIET, which makes lithium-ion battery separators, said it will float 21.4 million shares on the KOSPI market at prices [...]
SEOUL, March 7 (Korea Bizwire) — SK Innovation Co., South Korea’s leading refiner, said Sunday it will sell its stake in U.S. shale oil mines to a local glycerin company as part of its business reorganization strategy. SK Innovation said its U.S. affiliate SK E&P America will finalize the deal this month to sell its [...]
SEOUL, March 3 (Korea Bizwire) — Hyundai Glovis, a logistics unit of Hyundai Motor Group, said Wednesday it has sold a 30 percent stake in its polish affiliate Adampol S.A. to Changjiu Logistics for 18.3 million euros (US$22 million) in a move to strengthen partnership with the Chinese automotive logistics company. Hyundai Glovis said the [...]
SEOUL, Oct. 18 (Korea Bizwire) — South Korea’s top full service carrier Korean Air Lines Co. is seeking to raise an additional 1.5 trillion won (US$1.3 billion) in cash to overcome a prolonged, industrywide slump amid the pandemic, industry sources said Sunday. Korean Air plans to sell a lot of land in downtown Seoul to [...]