Cloud Redar 2.0
Scope
Date
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COVID-19
SK Bioscience seeks WHO nod for prompt COVID vaccine sale
SK Bioscience Co., the biopharmaceutical unit of South Korea’s No. 2 conglomerate SK Group, sought approval from the World Health Organization...
Sep 08, 2022 (Gmt+09:00)
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Steel
Steelmaker Husteel's operating profit skyrockets 579% in first half
Shares of Husteel, the only public company within the golf course giant Shinan Group, have doubled in price in the last three months. Industry ...
Sep 08, 2022 (Gmt+09:00)
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REITs
SK REIT to raise $550 million in debt for Jongno Tower deal
South Korea’s SK REIT Co. has been diversifying funding sources into short-term debt to finance its recent purchases of landmark office buildi...
Sep 08, 2022 (Gmt+09:00)
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Cloud computing
Hancom to focus on cloud computing and AI services
South Korea’s homegrown software giant Hangul and Computer Group, also known as Hancom Inc. Group, is slated to transform itself into a cloud ...
Sep 07, 2022 (Gmt+09:00)
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Shipping & Shipbuilding
Daewoo, Samsung bag $2.3 bn LNG ship order
Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. secured LNG ship orders worth a combined 3.2 trillion won ($2.3 bi...
Sep 06, 2022 (Gmt+09:00)
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Energy
SK Ecoplant joins 2.6GW offshore wind power project in Korea
South Korea’s SK Ecoplant Co. signed an agreement on Monday to jointly develop a combined 2.6 gigawatt (GW) offshore wind power project in Kor...
Sep 06, 2022 (Gmt+09:00)
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Cloud computing
KKR, Macquarie race for $728 mn stake in Korea’s KT Cloud
Global private equity giants Kohlberg Kravis Roberts & Co. (KKR) and Macquarie Asset Management are among the preliminary bidders for shares wor...
Sep 05, 2022 (Gmt+09:00)
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Arts
Seoul outshines NY, LA to emerge as Frieze Art's No.2 market
The Frieze Art Fair’s first Asia exhibition in Seoul attracted big crowds of VIP collectors and general art lovers from across South Korea thi...
Sep 04, 2022 (Gmt+09:00)
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Economy
Korea to cut spending in 2023, first time in 13 years
South Korea plans to reduce spending in 2023 for the first time in 13 years by cutting pandemic-era stimulus payments in a move to curb the country&...
Aug 30, 2022 (Gmt+09:00)
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Mergers & Acquisitions
Korea’s Iljin sticks to higher stake sale price than bid
Iljin Materials Co.’s sale process has reached a deadlock as its Chief Executive Heo Jae-Myeong is holding to its price to sell a controlling ...
Aug 29, 2022 (Gmt+09:00)
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Energy
Korea wins $2.25 bn deal to build Egypt's 1st nuclear power plant
Korea Hydro and Nuclear Power Co. (KHNP) has received a 3 trillion won ($2.25 billion) order to construct turbine islands under the El-Dabaa nuclear...
Aug 25, 2022 (Gmt+09:00)
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Central bank
BOK delivers fourth straight rate hike as inflation persists
South Korea’s central bank on Thursday delivered its fourth interest rate hike in a row for the first time in its history as the monetary auth...
Aug 25, 2022 (Gmt+09:00)
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Tech, Media & Telecom
Tech giant Kakao turns to digital display advertising for added revenue
Kakao Corp. is looking to add display advertising to South Korea’s largest messaging app KakaoTalk, as well as the fintech apps developed by i...
Aug 19, 2022 (Gmt+09:00)
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Mergers & Acquisitions
POSCO Int'l to absorb energy unit to move up E&P value chain
POSCO International Corp., the trading unit of Korean steel giant POSCO, will merge with its unlisted affiliate POSCO Energy Co. to reinforce its en...
Aug 14, 2022 (Gmt+09:00)
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Korean startups
Megazone Cloud receives $343 mn from MBK, IMM PE in Series C funding
Megazone Cloud Corp., South Korea’s largest managed cloud service provider (MSP), has completed its Series C funding round with a combined 450...
Aug 10, 2022 (Gmt+09:00)
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Korean games
DeFi platform Neopin unveils plan for Web 3.0, NFT, multichain services
Blockchain firm Neopin announced its strategy to strengthen its foothold in the global DeFi Market on Thursday with four keywords: Web 3.0, multicha...
Aug 04, 2022 (Gmt+09:00)
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Construction
Doosan wins $640 mn desalination plant deal in Saudi
South Korea’s Doosan Enerbility Co. secured a $640 million deal for a desalination plant in Saudi Arabia to meet water demand in the kingdom.D...
Aug 03, 2022 (Gmt+09:00)
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Cloud computing
KT ups ante with $1.5 billion spending on public sector cloud service
KT Cloud Corp., a unit of South Korea’s telecom giant KT Corp., plans to spend up to 2 trillion won ($1.5 billion) over the next three years t...
Jul 29, 2022 (Gmt+09:00)
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Mergers & Acquisitions
Vale, two Korean firms to sell JV to ArcelorMittal at a loss
Brazilian mining giant Vale SA and two South Korean steelmakers are selling their joint venture in Brazil at less than half their investment in six ...
Jul 29, 2022 (Gmt+09:00)
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Batteries
LG Energy, China’s Huayou Cobalt to build battery recycling joint venture
South Korea’s top battery maker LG Energy Solution Ltd. and China’s mining company Zhejiang Huayou Cobalt Co. have agreed to launch a ba...
Jul 26, 2022 (Gmt+09:00)
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Korean startups
Five startups join the ranks of unicorns in the first half of this year
Five South Korean startups joined the ranks of unicorns in the first half of 2022, the largest such figure for six months. With that, the total...
Jul 22, 2022 (Gmt+09:00)
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Cloud computing
SK, Naver to launch cloud services for Korean public institutions
South Korea’s leading cloud computing and software services providers are slated to join forces to launch a service for smart working in Korea...
Jul 21, 2022 (Gmt+09:00)
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Batteries
Samsung SDI to build new battery plant in Malaysia by 2025
South Korea’s battery manufacturer Samsung SDI Co. held a groundbreaking ceremony for Plant 2 to make cylindrical batteries in Seremban, Mal...
Jul 21, 2022 (Gmt+09:00)
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Korean startups
Warehouse robotics maker Floatic raises $2.6 million in pre-Series A
Warehouse automation startup Floatic Robotics wrapped up its pre-Series A round with 3.4 billion won ($2.6 million). The Seoul-based company is...
Jul 21, 2022 (Gmt+09:00)
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Artificial intelligence
AI-powered translation startup XL8 raises $2.7 million in bridge investment
Artificial intelligence-powered translation startup XL8 Inc. said on Monday it raised 3.6 billion won ($2.7 million) in a bridge round prior to Seri...
Jul 18, 2022 (Gmt+09:00)
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Upcoming IPOs
South Korea’s unicorn startups, including Viva Republica, delay IPOs
South Korean startups that exceed $1 billion in valuations, known as unicorns, are pushing back their initial public offering (IPO) dates.The move c...
Jul 11, 2022 (Gmt+09:00)
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Shipping & Shipbuilding
Hyundai Heavy’s KSOE wins $2.2 billion order for 10 LNG carriers
Korea Shipbuilding & Offshore Engineering Co. (KSOE), the intermediate holding company of the world’s top shipbuilder Hyundai Heavy Indust...
Jul 07, 2022 (Gmt+09:00)
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Automobiles
Hyundai Motor raises N.America workforce, cuts China staff
Hyundai Motor Co., South Korea’s top automaker, ramped up its workforce in North America by more than 50% last year where its presence is grow...
Jul 07, 2022 (Gmt+09:00)
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Economy
Korea inflation at 24-year high, adds to big step views
South Korea’s inflation accelerated to a 24-year high last month, reinforcing expectations that the central bank may raise interest rates by 5...
Jul 05, 2022 (Gmt+09:00)
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Automobiles
Infotainment, telematics define LG’s new future with $6.2 billion in orders
When LG Electronics Inc. surprised the market last year by announcing that it was exiting the mobile phone business, one of its mainstay businesses,...
Jul 05, 2022 (Gmt+09:00)
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