SEOUL, Sept. 18 (Korea Bizwire) — South Korea’s No. 3 handset maker Pantech, which has been struggling to normalize operations, said Friday it plans to cut nearly half of its employees. Under the plan, around 400 staff will leave the company on Oct. 23, the company said. Pantech has been on the verge of bankruptcy [...]
SEOUL, Aug. 27 (Korea Bizwire)– Byun Yang-gyun(67), the senior presidential secretary for policy planning to Korea’s late President Roh Moo-hyun, will take office as the chairman of Smile Gate Investment. Smile Gate Investment is an investment firm founded in 1999 that hasinvested in more than 300 venture businesses, including game companies such as Smile Gate and [...]
SEOUL, July 21 (Korea Bizwire) – The Solid-Optis consortium, which recently acquired cash-strapped handset maker Pantech, is seeking to grab a lion’s share of the Indonesian mobile communication market to revive the company. Byun Yang-kyun, chairman of Optis, a local optical manufacturer, said at the signing ceremony for its M&A contract with Pantech, “We will [...]
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, June 17 (Korea Bizwire) — A court decision that gave approval to a local consortium’s bid to acquire Pantech will likely give the embattled handset maker an opportunity to rebuild its business after its recent sale attempts fell through due to lack of interest, market watchers said Wednesday. The Seoul Central District Court on [...]