Kakao to strengthen overseas operations amid growing criticism

Kakao Corp. will accelerate its overseas expansion as part of its recently announced reform plan to strengthen fair business practices.Kakao said on...

Kakao says to shift toward co-existing business model

Kakao Corp. will be abandoning its growth model that has transformed once a mere mobile messenger operator into one of South Korea's largest busines...

LG Chem, ADM to build JV in US to produce bioplastics made from corn

South Korea’s LG Chem Ltd. said on Tuesday it is jointly building a corn-based bioplastic plant in the US with Archer Daniels Midland Co., a g...

DL Chem to spend $2 bn on petrochemical expansion

DL Chemical Co., the petrochemical arm of South Korea's DL Group, will spend 2 trillion won ($1.7 billion) over the next five years to sharply boost...

Antitrust body takes aim at Kakao's taxi-hailing app, Coupang

South Korea's antitrust body has launched an investigation into Kakao Mobility Corp. on allegations of discrimination against taxi drivers not subsc...

Coupang’s business model put to test as shares fall below IPO price

Coupang Inc., widely seen as the South Korean version of global e-commerce giant Amazon.com, has closely followed the US company’s business mo...

SK E&S acquires US energy firm KCE, to invest $600 mn for expansion

SK E&S Co., the natural gas business unit of SK Group, has acquired Key Capture Energy LLC (KCE), a US operator of energy storage projects, as t...

Ruling party calls for BOK's active role to aid COVID victims

South Korea's ruling Democratic Party has called on the Bank of Korea (BOK) to take a more active role to aid pandemic-hit small business operators ...

Medytox’s US business outlook dim as contract with AbbVie ends

South Korea’s pharmaceutical company Medytox Inc. has ended a botulinum toxin-related technology transfer contract with AbbVie, clouding its b...

Korean conglomerates bet big on hydrogen, launch H2 council

South Korea’s major conglomerates are going big on hydrogen, launching a business council and investing heavily in related projects to gain th...

Intel to invest up to $95 billion in European chipmaking amid US expansion

Intel Corp. plans to build new chipmaking facilities in Europe valued at up to $95 billion, responding to a cross-border race to add manufacturing c...

LG set to fund OLED plant expansion with over $400 mn in new bonds

LG Display Co. will likely raise around 500 billion ($430 million) in new bond issues, more than its planned 300 billion won, to finance the expansi...

POSCO, GS join hands to expand battery, hydrogen business

POSCO and GS Group have teamed up to expand their battery recycling and hydrogen businesses. The move came as South Korea’s top steelmaker POS...

SK Ecoplant to sell plant building business before IPO

SK Ecoplant Co., formerly known as SK Engineering & Construction Co., is in advanced stages of talks with a consortium of South Korea-based IUM ...

Game firms seeking strong IP extend ties with content makers

South Korean game developers and publishers are increasingly building business alliances with players in the content industry through equity investm...

Coffeebanhada, known for robot barista, seeks investment for expansion

Coffeebanhada, a South Korean budget coffee chain operator, is seeking to attract investment from private equity funds and strategic investors.Accor...

Kolon enters private space business with composite materials

Kolon will be the next major South Korean business group to join the race in the fast-growing space sector by developing and making light composite ...

Will Samsung follow TSMC's price hikes?

Samsung Electronics Co., the world’s largest memory chip maker, is expected to raise foundry prices in the near term as surging demand is outp...

Hanwha seeks to buy Samsung Electro-Mechanics’ Wi-Fi module unit

Hanwha Solutions are seeking to buy Samsung Electro-Mechanics’ Wi-Fi module unit in a move to enhance its wireless communication division, a k...

Bain Capital sells management rights of Hugel to GS-led group for $1.5 bn

A consortium led by South Korea’s energy-to-construction conglomerate GS Group has acquired the country’s top botox maker Hugel Inc. fro...

Naver to enter healthcare business in Korea with investment in ezCaretech

South Korea’s online platform giant Naver Corp. is set to enter the big data-based healthcare industry by investing in ezCaretech Co., a domes...

Father of Krafton's PUBG eyes the expansion of games

In September 2020, Krafton Inc.’s blockbuster game PlayerUnknown’s Battlegrounds (PUBG) hit a major roadblock. India prohibited Chinese ...

Citibank Korea’s retail banking exit faces stumbling block

The sale of Citibank Korea’s consumer banking business has hit a stumbling block as the South Korean unit of Citigroup Inc. postponed its boar...

(HOLD) GS Group is shifting gears towards digital sectors

South Korea’s energy-to-construction conglomerate GS Group is investing big on fast-growing digital segments.According to the industry on Aug....

Samsung to unload automaking business

Samsung Group is set to withdraw from the automaking business after 26 years in the industry since establishing Samsung Motors Inc. in 1995. The gro...

OTT startup Watcha expands into music distribution service

South Korea-based over-the-top (OTT) startup Watcha Inc. is ramping up efforts to transform into a comprehensive content data company as it expands ...

MBK Partners to sell Doosan Machine Tools for $2.1 bn

MBK Partners, a North Asia-focused private equity firm, agreed to sell South Korean Doosan Machine Tools at $2.1 billion to the country’s DTR ...

Samsung shares struggle as big strategic decisions still await Lee

Shares of Samsung Electronics Co. have been trapped in a boxed range since the start of the year, dashing retail investors’ hope that the tech...

CJ Cheiljedang posts record-high earnings in Q2

South Korea's food giant CJ Cheiljedang Corp. posted record-high earnings in the second quarter of this year, breaking its own record from the first...

Korean refiners log $3.4 bn profit on non-refining business

South Korean refiners enjoyed a $3.4 billion profit in the first half thanks to strong performance of non-refining business, swinging from a $4.5 bi...