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 [...]
SEOUL, Nov. 15 (Korea Bizwire) – Investments by the top 30 conglomerates this year up to the third quarter showed a 24 percent drop compared to the same period last year, a tally from a corporate tracker showed Tuesday. The 30 business groups, who control 257 affiliates, invested 45.33 trillion won (US$38.83 billion) on tangible [...]
SEOUL, Oct. 20 (Korea Bizwire) – SK Group first introduced a scholarship quiz program for youth in China in 2001 with SK Zhang Wen Bang, which was based on an SK-sponsored Korean quiz program called Janghak Quiz. The show quickly established itself as a trademark scholarship program, and was even awarded a grand prize for [...]
SEOUL, May 10 (Korea Bizwire) – U.S. tech giant IBM Corp. said Monday it plans to release the Korean-language edition of its flagship artificial-intelligence (AI) program next year, and join ties with SK Holdings C&C to tap deeper into the South Korean market. Under the plan, IBM will provide the Korean-language edition of the IBM [...]
SEOUL, Feb. 15 (Korea Bizwire) – South Korean mobile carriers are likely to cut this year’s facility investment to around 2010 levels, industry watchers said Monday, casting doubt over their promises to provide better services. SK Telecom Co., KT Corp. and LG Upluc Corp. are expected to invest a combined 6 trillion won (US$4.96 billion) [...]
SEOUL, Aug. 30 (Korea Bizwire) – SK Group Chairman Chey Tae-won has met with Chinese joint venture partners to discuss ways to expand cooperation in the petrochemical and chip businesses, his office said Sunday, in his latest efforts to boost business after being freed from jail. After being released on Aug. 14 upon receiving a [...]
SEOSAN, South Korea, July 29 (Korea Bizwire) – SK Innovation Co., South Korea’s top refiner, vowed Wednesday to further bolster its electric vehicle (EV) battery business by expanding its global outreach as part of efforts to find a new income source. SK Innovation has been pushing for the EV battery business since 2008, building the [...]
SEOUL, Apr. 17 (Korea Bizwire) — The Korean government has finally had enough of the three major mobile carriers’ habitual practice of collecting fingerprint information by scanning the back of customers’ ID cards as an identity verification measure. Fingerprint information is found on the back of all Korean ID cards, and the total number of [...]