SEOUL, Oct. 12 (Korea Bizwire) — SK Telecom Co. said Tuesday its shareholders approved the company’s plan to launch a non-telecom spinoff in the latest move to make aggressive investments in new tech and semiconductor businesses. The corporate restructuring — the first since the company’s foundation in 1984 — is designed to split South Korea’s [...]
SEOUL, Aug. 17 (Korea Bizwire) — SK Telecom Co., South Korea’s largest wireless carrier, said Tuesday its non-telecom spinoff will be launched in November as SK Square with the aim of aggressive investments in new tech and semiconductor businesses. The mobile carrier is currently preparing to split into two after deciding to spin off its [...]
SEOUL, June 10 (Korea Bizwire) — SK Telecom Co., South Korea’s top wireless carrier, decided Thursday to spin off a new investment company in November to expand its foothold in new tech sectors as well as conduct a five-to-one stock split aimed at improving shareholder value. The wireless carrier’s board of directors approved the spinoff [...]
SEOUL, Nov. 26 (Korea Bizwire) — SK Telecom Co., South Korea’s largest mobile carrier, said Thursday its shareholders approved its move to spin off its mobility business as it seeks to strengthen its focus in the connected mobility sector. SK Telecom said nearly all participants at a shareholders meeting approved the spinoff plan and that [...]
SEOUL, Oct. 16 (Korea Bizwire) — SK Telecom Co., South Korea’s largest mobile carrier, said Friday it will spin off its mobility platform business into a separate entity as it partners with U.S. ride-hailing company Uber Technologies Inc. in a move to strengthen its focus in the connected mobility sector. The business — tentatively called [...]
SEOUL, Oct. 5 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Friday it will seek approval from shareholders on a plan to spin off its design and engineering divisions into a separate R&D-focused corporation. On Thursday, GM Korea’s board of directors agreed to integrate a design center, a [...]
SEOUL, Dec. 2 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Friday that it plans to spin off its IT business unit next year in an effort to streamline its business structure. The unit, tentatively named DSME Information System, will be launched on Jan. 1, the shipbuilder said. The [...]
SEOUL, Nov. 23 (Korea Bizwire) – A number of South Korean companies have announced spinoffs of subsidiaries with promises to become more transparent and improve management, but market watchers say they were driven by the growing legislative movement to prevent spinoffs from strengthening corporate owners’ control. Snack manufacturer Orion Corp. and dairy producer Maeil Co. [...]