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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
Cross-border mergers and acquisitions are increasingly being tested not only on strategic fit or financial value, but also through the broader and often opaque filter of national security. Deals are being scrapped at the last minute as governments invoke security concerns, while in other cases acquirers are pressured to accept unfavorable conditions to win regulatory approval. South Korean dealmakers are no exception, facing setbacks in efforts to buy or sell businesses and losing critical time
Woori Bank said Sunday it has completed an $825 million refinancing for a 950-megawatt combined-cycle gas turbine power plant in Trumbull County, Ohio, as the facility enters commercial operation. The project is a joint investment with Korea Southern Power Co., the Korea Overseas Infrastructure & Urban Development Corporation and Siemens Energy. Following the plant’s April 15 start-up, Woori led the refinancing of construction loans into long-term facility financing. The plant sits within the PJ
Hanwha Group is set to launch a new holding company in August after securing preliminary listing approval from the Korea Exchange, as part of a broader governance overhaul. The exchange said Thursday that the proposed entity, tentatively named Hanwha Machinery & Services Holdings, meets Kospi listing requirements. The company is scheduled to be established on Aug. 1 and listed on Aug. 25. The new entity will be spun off from Hanwha Corp. and will oversee a portfolio of tech and lifestyle affilia
Gentle Monster vs. Blue Elephant: Behind K-eyewear's global boom, a bitter battle over imitation
Musinsa brings Japanese fashion to Seoul with Zozotown
AmCham chief receives honorary doctorate from Korea Aerospace University
Korea's manufacturing jobs rise for first time in 27 months
Bentley hits the battlegrounds in PUBG's latest update
Samsung's top brass convene in Tokyo as Japan chip ties deepen
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