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The Federation of Korean Industries said Thursday it participated for the second consecutive year as a sponsor of the annual Congressional Baseball Game in Washington as part of efforts to promote Korean companies' investment in America. At the CBG held at National Parks in Washington, FKI said it promoted over $240 billion in investments made by Korean companies in the US since US President Donald Trump's first term, through activities including video advertisements, promotional booths and a sk
Samsung Electronics and SK hynix are being floated as possible investors in new semiconductor facilities in Korea's southwest, fueling hopes that the Honam region could host its first major chip production base, even as both companies say no such plans have been decided. The speculation has gathered momentum among local officials and political figures as the Lee Jae Myung administration presses major conglomerates to expand investment beyond the Seoul metropolitan area and use large-scale projec
SK Telecom said Wednesday it would team up with Japan’s NTT and Taiwan's Chunghwa Telecom to launch a $500 million artificial intelligence investment fund focused on startups in data centers, semiconductors, cloud infrastructure and AI services. The three telecom companies announced the plan at a joint press conference at NTT’s headquarters in Tokyo. The fund, called the Innovative Optical and Wireless Network AI Fund, will be managed by Catalight Capital, a new fund management firm to be set up
Samsung Electronics said Wednesday it has invested an additional $175 million in US biotechnology company Element Biosciences, becoming the firm's largest shareholder as it seeks to expand into precision medicine and next-generation healthcare technologies. The investment was made through Element's Series E funding round, following Samsung's participation in the company's Series D financing in July 2024. Samsung said the latest investment will strengthen its position in the rapidly growing preci
US private equity giant Carlyle said Monday it has signed a stock purchase agreement to acquire Chung Ho Group, which owns Korean home and healthcare appliance rental platform Chung Ho Nais. While the companies did not disclose financial terms, industry sources estimate the transaction is worth just over 1 trillion won ($644 million). The acquisition covers a 100 percent stake in Chung Ho Nais and its affiliates, including Microfilter, a water purifier filter manufacturer, and MCM, a parts suppl
Samsung Electronics and its labor union have agreed to withdraw legal complaints related to a recent strike, including allegations that employees drew up and circulated a list of colleagues who did not join the walkout. The agreement was reflected in minutes from a labor-management meeting on performance-based pay, according to industry sources Friday. The document was prepared after the two sides reached a tentative agreement Wednesday on Samsung’s incentive scheme, setting out details of the d
Samsung Electronics’ tentative wage agreement with its labor unions came under fresh legal scrutiny Thursday after a shareholders group threatened legal action over a new bonus scheme tied to operating profit. The Korea Shareholder Action Headquarters staged a rally near the residence of Samsung Electronics Chair Lee Jae-yong, arguing that parts of the labor-management agreement signed a day earlier could violate Korea’s Commercial Act. “The agreement to accumulate and distribute 12 percent of p
Hana Financial Group is investing 1 trillion won ($667 billion) in Dunamu, operator of Korea's largest crypto exchange Upbit, in the biggest tie-up yet between a major Korean banking group and a domestic digital asset firm. Hana disclosed Friday that its board approved the purchase of 2,284,000 Dunamu shares from Kakao Investment for 1.033 trillion won. The deal will give Hana a 6.55 percent stake in Dunamu, making it the company's fourth-largest shareholder after founder and Chair Song Chi-hyun
Berlin-based Delivery Hero is exploring a sale of Woowa Brothers, the operator of South Korean food delivery app Baemin, seven years after its acquisition in what appears to be a strategic pullback, industry sources said Thursday. The German delivery giant recently distributed teaser letters to strategic investors and private equity firms in Korea and overseas through JPMorgan. Potential bidders are said to include Uber, Naver, Alibaba Group and DoorDash. It is reportedly seeking roughly 4.6 bil
Bithumb, South Korea's second-largest cryptocurrency exchange, has signed a memorandum of understanding with SSID, a subsidiary of Vietnam's largest securities firm SSI Securities, the company said on Thursday. The agreement to jointly develop a local virtual asset exchange, signed March 2 at SSI's Hanoi branch, was attended by Bithumb CEO Lee Jae-won, SSID CEO Nguyen Khac Hai and SSI Securities Chairman Nguyen Duy Hung. The two sides will collaborate on technology architecture, wallet and custo
Chipotle bets on Korea for first bite of Asia
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Samsung, SK hynix tax payments surge 167% on chip boom
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