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 [...]
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 [...]
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, [...]
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 [...]
SEOUL, April 21 (Korea Bizwire) – SK Group Chairman Chey Tae-won again expressed his commitment to acquire Toshiba’s NAND flash memory unit, a bid that will further bolster the global presence of SK’s memory affiliate, SK Hynix. “There are a number of ways that we can cooperate with Toshiba, through actions that will benefit SK [...]
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 [...]
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 [...]
SEOUL, Feb. 2 (Korea Bizwire) – SK Innovation Co., the country’s No. 1 oil refiner, said Thursday that its affiliate has decided to take over Dow Chemical Co’s ethylene acrylic acid (EAA) business in a bid to diversify its business portfolio. Its affiliate SK Global Chemical Co. will buy Dow Chemical’s EAA business for US$370 [...]
SEOUL, Dec. 20 (Korea Bizwire) – The special prosecution team looking into President Park Geun-hye’s corruption scandal has put a prohibition of departure on three Korean conglomerate heads, hampering business operations planned for the year-end and the next few months to come. According to sources, Samsung vice chairman Lee Jae-yong, SK chairman Chey Tae-won and [...]
SEOUL, Dec. 7 (Korea Bizwire) – Samsung vice chairman Lee Jae-yong’s reluctant promise during Tuesday’s parliamentary hearing over the Choi Soon-sil scandal to disband the group’s Future Strategy Office – the key department responsible for the group’s decision-making process for all Samsung affiliates – has raised questions as to how other Korean conglomerate groups’ so-called [...]