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Head of SK Says Toshiba Deal is ‘Not Finished’

Head of SK Says Toshiba Deal is ‘Not Finished’

SEOUL, June 23 (Korea Bizwire) – SK Group Chairman Chey Tae-won said Friday its semiconductor arm’s move to join the acquisition of Toshiba Corp.’s chip business is “not finished,” hinting there are still challenges moving forward. The remark came as a global consortium including South Korea’s SK hyinx Inc. was tapped as the preferred bidder [...]

Hyundai, SK Leaders to Accompany Moon to U.S. Next Week: Biz Lobby

Hyundai, SK Leaders to Accompany Moon to U.S. Next Week: Biz Lobby

SEOUL, Jun. 23 (Korea Bizwire) — Leaders of South Korea’s top conglomerates including Hyundai and SK will join President Moon Jae-in on his first official visit to the United States next week, a local business lobby said Thursday. Moon is scheduled to visit Washington on Wednesday ahead of two-day summit talks with U.S. President Donald [...]

Government Inches Towards Scrapping Basic Monthly Mobile Fee

Government Inches Towards Scrapping Basic Monthly Mobile Fee

SEOUL, June 8 (Korea Bizwire) – South Korean mobile carriers are bracing for a possible shake-up of phone bills, as the government inches towards scrapping what are known as basic charges, fees that have been a key driver of profits for telecom companies in the past. After years of criticism and complaints, pressure from newly-elected [...]

SK Innovation to Invest 10 Trillion Won in Battery, Non-Refining Sectors

SK Innovation to Invest 10 Trillion Won in Battery, Non-Refining Sectors

SEOUL, May 31 (Korea Bizwire) – SK Innovation Co., South Korea’s top oil refiner, said Wednesday that it plans to spend 10 trillion won (US$8.91 billion) in the battery and other non-refining sectors by 2020 to reshape its business portfolio and nurture new revenue sources.  In a regulatory filing, SK Innovation said the investment will [...]

Asset Size of S. Korea’s Top 4 Biz Groups Expands 30 pct in 5 yrs

Asset Size of S. Korea’s Top 4 Biz Groups Expands 30 pct in 5 yrs

SEOUL, May 22 (Korea Bizwire) — Asset size of South Korea’s top four business conglomerates grew by more than 30 percent over the past five years, a corporate information provider said Sunday. Data provided by Chaebul.com showed combined assets of Samsung, Hyundai Motor, SK and LG stood at 864.9 trillion won as of end 2016, [...]

Public Cheers as Incoming President Cracks Down on Telecom Charges

Public Cheers as Incoming President Cracks Down on Telecom Charges

SEOUL, May 12 (Korea Bizwire) – As Moon Jae-in was sworn into office as the 19th president of South Korea earlier this week, a pledge made during his campaign to scrap what is widely known as minimum phone bill charges has come back into the spotlight, a policy many voters viewed favorably amid a record high [...]

Incheon SK Baseball Stadium to Trial 5G Technology During KBO Season Opener

Incheon SK Baseball Stadium to Trial 5G Technology During KBO Season Opener

SEOUL, March 29 (Korea Bizwire) – SK Telecom announced yesterday plans to equip the Incheon SK Happy Dream Park with devices running on 5G technology for baseball fans visiting the stadium during the three-day season opening series. Dubbed the “5G Stadium”, the home stadium of the SK Wyverns will be transformed this weekend into a venue [...]

SK Group Leads Mobile Customer Loyalty App Market in South Korea

SK Group Leads Mobile Customer Loyalty App Market in South Korea

SEOUL, March 22 (Korea Bizwire) – SK-affiliated ventures are dominating the loyalty mobile application market in South Korea, according to a recent survey released yesterday. Among Android smartphone users – who account for 80 percent of all smartphone owners in the country – SK Planet’s Syrup Wallet proved most popular with nearly 4.5 million monthly [...]