Companies
Tech
Synopsys buys S.Korean fab data tech firm for $90 mn
(Courtesy of BISTel) Synopsys Inc., a US software developer, has signed a $90 million agreement to acquire full ownership of BISTel, South Korea's top-ranked smart manufacturing software company.Founded by ex-Samsung Electronics engineer W.K. Ch
Jun 24, 2020 (Gmt+09:00)
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F&B
Malaysia becomes preferred destination for Korea’s convenience chains
E-Mart 24 Bangsar South branch in Kuala Lumpur (Courtesy of E-Mart 24). South Korea’s major convenience store chains are rushing to enter t...
Jun 24, 2020 (Gmt+09:00)
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Markets
Korea’s super-rich: How their wealth ballooned during the pandemic
In South Korea, just like any other major economies, the stock market has been a mine of gold even for small investors, who enjoyed hefty gains ...
Jun 24, 2020 (Gmt+09:00)
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Chemicals
Hanwha to buy $900 mn Hanwha General shares from Samsung
(Courtesy of Hanwha General Chemical) Two Hanwha Group units have decided to buy the remaining stake in their affiliate Hanwha General Chemical C...
Jun 23, 2020 (Gmt+09:00)
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Insurance
Cigna seeks to enter Korea's digital non-life insurance market
(Getty Images Bank) The US insurance group Cigna looks set to become the first foreign insurer on South Korea's digital non-life insurance platfo...
Jun 23, 2020 (Gmt+09:00)
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ESG
SK Chairman vows to achieve carbon neutrality ahead of 2050 UN target
SK Group Chairman Chey Tae-won speaking at the 2021 SK Extended Management Meeting on June 22. SK Group has pledged to achieve carbon neutrality ...
Jun 23, 2020 (Gmt+09:00)
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Electric vehicles
Hyundai Motor, Grab deepen partnership for EV adoption in Southeast Asia
South Korea’s Hyundai Motor Group and Grab Holdings Inc. have agreed to strengthen their partnership in mobility services to accelerate th...
Jun 23, 2020 (Gmt+09:00)
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ESG bonds
Korean Air to issue first ESG bonds among Korean carriers
Korean Air's eco-friendly Boeing 787-9 plane Korean Air Lines Co. will issue green bonds as part of its 200 billion won ($176 million) corporate ...
Jun 23, 2020 (Gmt+09:00)
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Fintech
Toss en route to being Korea’s first fintech decacorn; valuation tops $7 bn
South Korea-based mobile financial platform Toss is en route to becoming the country's first fintech decacorn, or a company valued at over $10 b...
Jun 23, 2020 (Gmt+09:00)
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Startups
AI startup Voyager X raises over $25 mn in Series A funding round
Kim Moo-gung (left), head of mobile scanner app vFlat; Nam Se-dong, the co-founder and CEO of Voyager X; Chang Jae-wha (right), head of video editin...
Jun 23, 2020 (Gmt+09:00)
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Foundry expansion
DB HiTek in quandary over foundry ramp-up amid chip supercycle
DB HiTek Co., one of South Korea’s leading foundry chipmakers, is enjoying the current market boom, which is forcing makers of cars and el...
Jun 23, 2020 (Gmt+09:00)
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Auto components
Carlyle, Bain Capital, Valeo, Mahle enter prelim bids for Hanon Systems
Hanon Systems supplies eco-friendly heat pump components for Volkswagen's all-electric MEB platform. The preliminary bidding to acquire South Kor...
Jun 22, 2020 (Gmt+09:00)
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Markets
BTS label HYBE shares at highest close: Too late to chase it now?
Shares in HYBE Co., the label behind BTS, hit their all-time high close on Tuesday, buoyed after the boy band's latest track "Butter" topped the...
Jun 22, 2020 (Gmt+09:00)
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Startups
Morai's virtual testing solution reduces testing period for self-driving cars
Morai Inc.'s founder and co-chief executive Jung Ji-won explains virtual autonomous driving simulator on June 22. A self-driving car needs to pas...
Jun 22, 2020 (Gmt+09:00)
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[Exclusive] Retail
LX Group’s Pantos to enter e-commerce market with fulfillment service
A fulfillment center of Pantos, a logistics unit of LX Group, in Cheongna, Incheon Pantos Co., the logistics unit of South Korea’s newly es...
Jun 22, 2020 (Gmt+09:00)
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Real estate
Coupang fire may cut ROI of warehouse assets
Coupang's distribution center in Icheon burned down by a fire started on June 17 (Courtesy of Yonhap News). Last week’s devastating fire at...
Jun 22, 2020 (Gmt+09:00)
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The Deep Dive
The butterfly effect: How the W Concept takeover stirred up Korea's fashion industry
“Just give us three weeks. We’ll offer a price by then.”This conversation took place in early March. A senior executive from r...
Jun 22, 2020 (Gmt+09:00)
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Healthcare
Israel’s Nanox begins production of digital X-ray components in Korea
A Nanox employee at its Cheongju facility inserting a wafer into semiconductor equipment Nano-X Imaging Ltd. (Nanox), an Israeli startup listed o...
Jun 22, 2020 (Gmt+09:00)
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Hydrogen economy
Hyosung, Linde kick off building world’s largest liquid hydrogen plant
Hyosung Group Chairman Cho Hyun-joon speaks at the groundbreaking ceremony in Ulsan Monday. Hyosung Group has once again made a key step fo...
Jun 21, 2020 (Gmt+09:00)
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Future mobility
Hyundai eyes smart mobility with Boston Dynamics acquisition
Dog-like robot Spot, humanoid robot Atlas and Hyundai's NEXO hydrogen fuel cell car Hyundai Motor Co. said on Monday it is shifting its business ...
Jun 21, 2020 (Gmt+09:00)
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Chemicals
Kolon expands hydrocarbon resins production, becomes global No.2 maker
Kolon Industries CEO Jang Hee-goo (center front) inspecting the company's Yeosu plant South Korea’s chemicals and industrial materials make...
Jun 21, 2020 (Gmt+09:00)
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F&B
HiteJinro's fruit-flavored soju becomes huge hit among Russian MZers
Courtesy of HiteJinro South Korea's leading soju maker HiteJinro Co. has been enjoying great success in Russia thanks to strong demand for fruit-...
Jun 21, 2020 (Gmt+09:00)
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Shipping & Shipbuilding
Korea Shipbuilding & Offshore wins $1 bn order to build 10 vessels
LNG carrier built by Hyundai Mipo Korea Shipbuilding & Offshore Engineering Co. (KSOE) has won a 1.1 trillion won ($1 billion) deal to build ...
Jun 21, 2020 (Gmt+09:00)
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Pharmaceuticals
SK Group mulls investing $100 mn in Vietnam's Pharmacity
(Courtesy of Pharmacity) SK Group is in the final stages of negotiations to invest $100 million in Vietnam's largest pharmacy chain, Pharmacity, ...
Jun 21, 2020 (Gmt+09:00)
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Automobiles
Hyundai Santa Cruz to challenge Ford Maverick in US pickup market
The Hyundai Santa Cruz Hyundai Motor Co.’s upcoming Santa Cruz pickup is challenging US truck giant Ford Motor Co.'s Maverick even before t...
Jun 21, 2020 (Gmt+09:00)
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IPOs
Why fast-growing coffee chains fail to get listed in Korea
A Twosome Place has scrapped its initial public offering plans after being touted as the country’s first coffee chain to go public. This h...
Jun 20, 2020 (Gmt+09:00)
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Chief Executives
LG undergoes restructuring under young Chairman Koo's bold leadership
LG Group Chairman Koo Kwang-mo. On June 29, LG Group Chairman Koo Kwang-mo will reach a three-year mark of serving as the head of South Korea's f...
Jun 20, 2020 (Gmt+09:00)
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Fiber and textile
Kolon Industries to lead Kolon Group's remarkable comeback in 2021
One & Only Tower, Kolon Group's corporate headquarters building located in Seoul. Kolon Group is making a remarkable comeback this year to ch...
Jun 18, 2020 (Gmt+09:00)
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Automobiles
Hyundai NEXO, Toyota Mirai to compete in fuel cell cars as Honda exits
Japan’s Honda Motor Co. has announced it is exiting the hydrogen fuel cell vehicle market, leaving Toyota Motor Corp. and South Korea&rsqu...
Jun 18, 2020 (Gmt+09:00)
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Remote work culture
Naver's Line makes remote working the new norm; who will be next?
South Korea-based Line Plus Corp. is set to become the country's first large business group to allow employees to work from home permanently.&nb...
Jun 18, 2020 (Gmt+09:00)
