SEOUL, Dec. 5 (Korea Bizwire) — Operators of Tving and Wavve, two major South Korean over-the-top (OTT) platforms, said Tuesday they have signed a memorandum of understanding to push for a merger in an apparent effort to compete with global streaming giants. But CJ ENM Co. and SK Square Co., respective owners of Tving and [...]
SEOUL, Nov. 2 (Korea Bizwire) — The board of Asiana Airlines Inc., South Korea’s second-largest air carrier, plans to reconvene Thursday to vote on whether to sell its cargo business, as Korean Air Co. seeks to win antitrust approval from European Union regulators for the takeover of its smaller rival. The meeting comes three days [...]
SEOUL, Oct. 31 (Korea Bizwire) — Although announced nearly three years ago by the South Korean government, the proposed merger of Korean Air Co. and Asiana Airlines Inc., the country’s two full-service carriers, still faces a tough uphill battle in securing regulatory approval across key markets. In November 2020, Korean Air signed a deal to [...]
SEOUL, Oct. 24 (Korea Bizwire) — Unionized workers of Asiana Airlines Inc. on Tuesday protested the company’s merger deal with its larger rival Korean Air Co., as the company is expected to soon decide whether to sell its cargo division to win antitrust approval from European Union (EU) regulators for the two carriers’ merger. At [...]
SEOUL, Oct. 23 (Korea Bizwire) — Shareholders of pharmaceutical firm Celltrion Inc. on Monday approved a plan to merge with its sales and marketing affiliate Celltrion Healthcare Co., company officials said. Celltrion Healthcare’s merger with Celltrion was also approved by the affiliate’s shareholders earlier in the day. The approval came about three months after Celltrion [...]
SEOUL, Aug. 17 (Korea Bizwire) — South Korea’s major pharmaceutical firm Cellltrion Inc. said Thursday it will merge with its sales and marketing affiliate Celltrion Healthcare Co. in a bid to become a global drugmaker by streamlining its key operational structure. The company said in a regulatory filing that the merger is aimed at growing [...]
SEOUL, Aug. 12 (Korea Bizwire) — POSCO International Corp., a trading arm of South Korean steel giant POSCO Holdings Co., said Friday it will push to merge with an energy affiliate, as it seeks to expand its business portfolio into renewable and other green energy sectors. POSCO International’s board earlier approved the plan and it [...]
BAKERSFIELD, Calif., March 8 (Korea Bizwire) — AM FRESH Group and Special New Fruit Licensing (SNFL) today announced a definitive agreement under which AM FRESH is acquiring International Fruit Genetics (IFG) and merging it with SNFL, creating a combined company that significantly advances SNFL’s and IFG’s abilities to further develop their breeding capacities and add [...]
SEOUL, Feb. 22 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has decided to conditionally approve a deal by Korean Air Lines Co., the country’s biggest carrier, to buy the debt-ridden Asiana Airlines Inc. The Fair Trade Commission (FTC)’s decision does not complete Korean Air’s proposed takeover of the country’s No. 2 carrier [...]
SEOUL, Jan. 13 (Korea Bizwire) — The European Union antitrust regulator on Thursday vetoed Hyundai Heavy Industries Group’s proposed acquisition of its smaller rival Daewoo Shipbuilding & Marine Engineering Co., citing monopoly issues. The European Commission announced its decision to block the merger of the South Korean shipbuilders, arguing the tie-up could create a monopoly [...]