business deals
Scope
Date
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Economy
Korea lawmakers approve record $515 bn budget for 2022
South Korea’s parliament on Dec. 3 approved a record $515 billion spending for 2022 to support a recovery in Asia’s fourth-largest econo...
Dec 03, 2021 (Gmt+09:00)
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IPOs
Hyundai Oilbank to start IPO process this month
South Korean refiner Hyundai Oilbank Co. plans to begin the process for a stock market listing in the first half of 2022 as early as this month with...
Dec 02, 2021 (Gmt+09:00)
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Electric vehicles
POSCO International signs parts supply deal with US EV startup Rivian
POSCO International Corp., the trading unit of South Korea’s steel giant POSCO, said on Thursday it has signed a $6 million contract to supply...
Dec 02, 2021 (Gmt+09:00)
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Metaverse
Softbank joins $190 mn fundraising by Naver metaverse platform
Naver Corp.’s metaverse platform secured $190 million from Softbank and other investors to expand its business in a market marked by fierce co...
Dec 01, 2021 (Gmt+09:00)
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Mergers & Acquisitions
Hankook Tire buys Canada's self-driving sensor maker
South Korea's Hankook Tire Group has acquired a majority stake worth 204.5 billion won ($173 million) in Canada's Preciseley Microtechnology Corp., ...
Dec 01, 2021 (Gmt+09:00)
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Energy
S.Korea to build solar power plants in Chile for $130 mn
South Korea is planning to build solar photovoltaic power plants in Chile, investing $130 million, in a move to help local companies expand their re...
Nov 29, 2021 (Gmt+09:00)
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Cryptocurrencies
SK Square to invest $75 mn in Korea crypto exchange
South Korea’s SK Square, an investment firm spun off from SK Telecom Co., will buy a stake in a local cryptocurrency exchange to expand its po...
Nov 29, 2021 (Gmt+09:00)
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Machinery
Doosan aims to raise $1.3 bn in rights offering
Doosan Heavy Industries & Construction Co., South Korean conglomerate Doosan Group’s subsidiary, agreed to raise 1.5 trillion won ($1.3 ...
Nov 28, 2021 (Gmt+09:00)
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E-commerce
KoreaCenter acquires Danawa, paving way for MBK’s bolt-on deal
KoreaCenter Co. has been named the new owner of Danawa Co., one of South Korea’s first-generation e-commerce platforms – a move that is ...
Nov 26, 2021 (Gmt+09:00)
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Tech, Media & Telecom
LG Electronics names strategy chief as new CEO
South Korea's LG Electronics Inc. on Thursday appointed its strategy chief Cho Joo-wan as the company's new chief executive officer, in a major resh...
Nov 26, 2021 (Gmt+09:00)
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Carbon neutrality
Hyundai E&C teams up with US Holtec on SMR business
South Korea’s builder Hyundai Engineering & Construction Co. (Hyundai E&C). is set to join the small modular reactor (SMR) business in...
Nov 25, 2021 (Gmt+09:00)
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Energy
Hanwha Solutions invests $100 mn in US energy startup Lancium
South Korea’s Hanwha Solutions Corp. has invested in a US data center energy management startup as part of its new business model to embrace t...
Nov 24, 2021 (Gmt+09:00)
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Private equity
MBK's deals rank among top 2021 PE exits in N.Asia
North Asia-focused MBK Partners has made lucrative exits from three investments in South Korea, China and Japan this year. They rank among the nine ...
Nov 23, 2021 (Gmt+09:00)
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Supply chain
Korea Inc. braces for rising costs, supply chain risks, volatile FX
Hopes for improving corporate earnings are rising as countries around the world are relaxing their anti-COVID-19 measures, but South Korean companie...
Nov 22, 2021 (Gmt+09:00)
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Energy
Hanwha acquires 16.67% of REC Silicon for $160 mn for US solar projects
South Korea’s Hanwha Solutions Corp. has agreed to buy a 16.67% stake in Norway-based polysilicon manufacturer REC Silicon ASA for $160.5 mill...
Nov 19, 2021 (Gmt+09:00)
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Energy
SK Ecoplant to start offshore wind power business
SK Ecoplant Co., the construction unit of South Korea’s SK Group, is slated to enter the offshore wind power business by acquiring a local win...
Nov 17, 2021 (Gmt+09:00)
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Aerospace & Defense
Korea’s LIG close to record $3.5 bn deal to export missile system to UAE
LIG Nex1 Co., a leading South Korean defense company, is close to a record $3.5 billion deal to export its surface-to-air missile system to the Unit...
Nov 17, 2021 (Gmt+09:00)
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COVID-19
SK seeks to make Pfizer, Merck COVID-19 pills in CMO deals
SK Inc., the investment and holding company of South Korea’s SK Group, is seeking to make COVID-19 treatment pills developed by Pfizer Inc. an...
Nov 17, 2021 (Gmt+09:00)
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Mergers & Acquisitions
Korean game makers shun IBs for M&A deals
“We know which companies to buy after playing the games a few times.”More and more South Korean game developers are pursuing mergers and...
Nov 16, 2021 (Gmt+09:00)
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Biotech
Celltrion looks beyond biosimilars to develop its own mRNA drugs
South Korea’s Celltrion Inc. has long been a biosimilar player, producing replicas of original drugs, a growing market in the pandemic era.Ear...
Nov 16, 2021 (Gmt+09:00)
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Energy
SeAH to supply monopiles for Orsted’s UK offshore wind farm project
SeAH Steel Holdings Corp. ’s UK subsidiary is set to supply monopiles, steel tubes that serve as a fixed foundation for offshore wind turbines...
Nov 11, 2021 (Gmt+09:00)
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Electronics
LG to expand medical equipment business with pain-relieving device
LG Electronics Inc. is expanding its business scope to the medical equipment sector with a plan to unveil a pain-relieving device in an effort to ga...
Nov 10, 2021 (Gmt+09:00)
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IPOs
Legal data firm FiscalNote to list on Nasdaq via $1.3 bn SPAC deal
FiscalNote Holdings Inc., a US legal data and analytics company founded by a Korean-American, is set to go public in a deal valued at $1.3 billion. ...
Nov 09, 2021 (Gmt+09:00)
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IPOs
Race for CJ Olive Young IPO underwriting deal heats up
The competition to underwrite a listing of CJ Olive Young, South Korea’s top beauty store chain, is intensifying with some brokerage houses va...
Nov 09, 2021 (Gmt+09:00)
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Korean food
Pulmuone to expand alternative meat business in the US
South Korea’s major food company Pulmuone. Co. is slated to expand sales of its in-house developed meat alternatives in the US market. The foo...
Nov 09, 2021 (Gmt+09:00)
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Supply chain
Global supply crisis endangers S.Korea’s manufacturers
A South Korean electric equipment maker has decided not to seek any new orders as a spike in prices of commodities such as copper and supply disrupt...
Nov 09, 2021 (Gmt+09:00)
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Steel
Dongkuk eyes $1.7 billion sales from color steel business in 2030
Dongkuk Steel Mill Co., South Korea’s third-largest steelmaker, said on Monday that it aims to grow its color coated steel business to 2 trill...
Nov 08, 2021 (Gmt+09:00)
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Batteries
LG Energy Solution to supply batteries to US fuel cell truck maker Nikola
LG Energy Solution Ltd., a leading South Korean battery maker, has signed a deal to supply batteries to Nikola Corp., a US hydrogen fuel cell electr...
Nov 05, 2021 (Gmt+09:00)
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Business & Politics
SK Group’s Chey vows half of $52 bn US spending in batteries, hydrogen
SK Group Chairman Chey Tae-won has vowed to spend $26 billion, or half of the group’s planned investment in the US by 2030, on electric vehicl...
Nov 02, 2021 (Gmt+09:00)
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Upcoming IPOs
Korea MCN startup Treasure Hunter aims for leading K-content maker
Song Jae-yong, a leader of the new business taskforce team at South Korea’s CJ ENM Co. went to New York in 2013 to have business meetings for ...
Nov 02, 2021 (Gmt+09:00)
Latest News
- 1 Hyundai, Waymo forge multi-year, strategic partnership for self-driving vehicles
- 2 AI startup MarqVision raises $16.5 mn to close Series A
- 3 Taihan Cable wins $630 mn power grid project in Singapore
- 4 Korean startup scene is gloomy, say 2 out of 5 startup CEOs
- 5 MBK ups stakes for Korea Zinc to match buyback offer