SEOUL, Jul. 20 (Korea Bizwire) — South Korea’s top financial regulator is planning to give preliminary approval for the merger of two flagship banks of Hana Financial Group Inc., the country’s third-largest banking group by assets, later this week, officials said Sunday. Hana Financial has tried to merge Hana Bank and the Korea Exchange Bank [...]
SEOUL, Jul. 17 (Korea Bizwire) — A South Korean consortium will soon sign a deal to take over ailing smartphone maker Pantech Co., industry sources said Friday, paving the way for the normalization of the country’s No. 3 smartphone maker, which has been teetering on the verge of liquidation after it sought to give up [...]
SEOUL, July 13 (Korea Bizwire) — Major banking group Hana Financial Group said Monday that it plans to complete a merger between its two banking units — Hana Bank and Korea Exchange Bank (KEB) — before October as KEB’s labor union has agreed on the proposed merger. Hana Financial has been pushing for the merger since its [...]
SEOUL, Jun. 24 (Korea Bizwire) — South Korea’s national pension fund said Wednesday it will vote against the proposed merger between two units of SK Group, but the country’s No. 3 conglomerate vowed to push ahead with the deal. SK Group has said earlier its holding firm SK Holdings Ltd. will merge with the group’s [...]
SEOUL, Jun. 9 (Korea Bizwire) — A U.S. activist hedge fund said Tuesday it filed a court injunction to stop South Korea’s top conglomerate Samsung Group from merging two key units. The legal action by Elliot Management comes after Cheil Industries Co., Samsung’s de facto holding company, announced a plan to take over construction and [...]
SEOUL, May 26 (Korea Bizwire) – Cheil Industries and Samsung C&T, two key affiliates of South Korea’s top conglomerate Samsung Group, said Tuesday they are planning to merge by the end of August. “Under the merger agreement, subject to approval from the two companies’ shareholders, Cheil Industries will acquire Samsung C&T by offering 0.35 new [...]
“The newly created unit will cement its position as the global leader by strengthening its product portfolios while improving its expertise in the downstream areas of EPC [engineering, procurement and construction] and project financing.” “It will also play the leading role for Hanwha Group’s solar power business at a time the world’s solar power market [...]