SK E&S' $2 bn preferred share deal shortlisted to four candidates

SK E&S Co., the largest city gas supplier in South Korea, has shortlisted four candidates among seven preliminary bidders to invest in 2 trillio...

S.Korean telcos accelerate diversification amid strong Q2

South Korea’s two largest telecom companies, SK Telecom Co. and KT Corp., have both delivered strong second-quarter results driven by rapid gr...

Naver to acquire 20% of Cafe24 to strengthen e-commerce presence

Naver Corp., South Korea’s top online portal, is set to acquire 20% of Cafe24, a Seoul-based global e-commerce solutions provider, to expand i...

KKR, IMM PE in bid for SK E&S' $2 bn preferred shares

KKR & Co., IMM Private Equity and Glenwood Private Equity are among the preliminary bidders for 2 trillion won ($1.9 billion) worth of new prefe...

Korean startups raise record-high Series A funding in H1

South Korea's startup ecosystem has been booming with companies raising over 1 trillion won ($870 million) in the first half of this year -- an all-...

Investors revalue E-Mart after owning two-thirds of Starbucks Korea

Shares of E-Mart Inc., South Korea’s largest retailer, are rallying after the company bought an extra stake in Starbucks Korea to control two-...

Fashion app Queenit raises $9 mn from VC firms

Queenit, a South Korea-based fashion mobile platform targeting women in their 40s and 50s, has raised 10 billion won ($9 million) from venture capit...

E-commerce platform TMON delays IPO plans

South Korea’s e-commerce platform TMON Inc., majority-owned by KKR & Co. and Anchor Equity Partners, will postpone its plans for initial p...

Hankook Tire to equip Volkswagen ID.4 with EV tires

South Korea’s top tire manufacturer Hankook Tire & Technology has again widened its client pool of electric vehicles (EVs). The company sa...

Shinsegae-Naver alliance to sell local-themed meal kits as first collaboration

Shinsegae Group and Naver Corp. have jointly devised their first retail business model in about four months after their long-term business agreement...

Ex-TMON CEO launches e-commerce startup; raises over $17 mn in seed round

South Korea-based e-commerce startup RXC has secured around 20 billion won ($17.5 million) in a seed round -- an impressive and rare amount consider...

Shinsegae Group goes asset-light in e-commerce push

South Korea's Shinsegae Group is looking to sell the headquarters building of its supermarket chain E-Mart Inc. for about 1 trillion won ($883 milli...

Jungheung cuts Daewoo E&C acquisition price by $180 mn

KDB Investment, in an announcement on July 5, has confirmed Jungheung Construction Co. as the preferred bidder for the acquisition of Daewoo Enginee...

POSCO International, Pertamina seek joint oil, gas development off Indonesia

POSCO International Co., the trading unit of South Korean steelmaker POSCO, has agreed with Indonesia’s PT Pertamina Hulu Energi (PHE) to look...

Mid-sized Jungheung to buy Daewoo E&C as part of global expansion plan

South Korea’s construction firm Jungheung Construction Co., in a move to strengthen its global foothold, is buying its much larger-sized rival...

KT&G expands global foothold with 4,700 e-cigarette IP rights

The world’s fifth-largest tobacco maker KT&G Corporation is rapidly widening the global reach of its e-cigarette products, which have beco...

Korea’s leading e-book startups eye IPO in 2022

South Korea’s leading e-book platforms are targeting to go public next year. The country’s subscription-based e-book service provider Mi...

Shinsegae now Korea’s No.2 e-commerce player with eBay Korea buyout

Shinsegae Group pushed through to be the sole winner in the prolonged race to acquire control of eBay Korea, making it a close runner-up in South Ko...

AI startup Voyager X raises over $25 mn in Series A funding round

South Korea-based artificial intelligence startup Voyager X Inc. has successfully raised around 30 billion won ($26.4 million) in a Series A funding...

LX Group’s Pantos to enter e-commerce market with fulfillment service

Pantos Co., the logistics unit of South Korea’s newly established LX Group, is entering the global e-commerce market by launching a worldwide ...

Seoul to host EV-only Formula E World Championship in 2022

South Korea’s capital Seoul will be finally hosting the ABB FIA Formula E World Championship in August 2022, with BTS as the global ambassador...

Shinsegae-Naver consortium one step closer to eBay Korea acquisition

Shinsegae is the likely winner of the eBay Korea acquisition, outplaying its rival Lotte in the prolonged race to buy the country’s third larg...

Kakao becomes 3rd most valuable company in Korea

Kakao Corp. is now the third most valuable company in Korea, after Samsung Electronics Co. and SK Hynix Inc.Kakao’s market cap on June 15 surp...

Service marketplace Soomgo raises nearly $30 mn in Series C round

South Korea-based Brave Mobile Inc., the operator of service matching platform Soomgo, has secured 32 billion won ($28.6 million) in a Series C fund...

Shinsegae to raise $2 bn in secured loan for eBay Korea

South Korea's Shinsegae and Lotte groups, the two final contenders for eBay Korea, are hurrying to securitize their assets, even offering core real ...

Delivery service provider Barogo wraps up $72 mn Series C round

Logistics IT platform service Barogo has successfully wrapped up an 80 billion won ($72 million) Series C round, far above the company's initial tar...

Kakao's fresh e-commerce strategy puts Naver, Coupang on guard

South Korea’s mobile platform Kakao Corp. is set to shake up the country's e-commerce market in the second half of the year with the launch of...

Shopping app Ably raises another $55 mn

South Korea-based Ably Co., operator of the fashion app Ably, announced on Jun. 2 that it has raised 62 billion won ($55.7 million) in a Series B ex...

Luxury goods platform MUST'IT raises over $10 mn from VC firms

South Korea-based luxury goods platform MUST'IT has secured 13 billion won ($11.7 million) in a bridge round from venture capital firms Kakao Invest...

AI chip startup FuriosaAI wraps up $70 mn Series B round

South Korea-based artificial intelligence startup FuriosaAI has recently wrapped up an 80 billion won ($72.1 million) Series B round, attracting inv...