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Reporter : Kim Yoo-chul
Wed, February 21, 2024 | 10:20
Kakao Pay confirms IPO has been delayed
Kakao Pay has decided to delay its initial public offering (IPO), an investment banking source said Thursday. The move comes after Kakao and its affiliates lost over $15 billion in market capitalization this month alone as its stock price tanked due to the government's crackdown on the country's top messaging service operator.
[ANALYSIS] Korea's crackdown on Kakao hitting Coupang, Baemin
After Kakao's decision to revamp its web-like business structures due to the findings of the country's top anti-trust regulator, local platform operators are “considering correcting” some “bad habits” to stay afloat amid growing worries among investors.
LG bets on smart factory initiatives
LG Uplus is pushing forward with “smart factory” initiatives, as the LG telecom affiliate aims to boost the sales of its smart factory-oriented business significantly over the next five years.
SK-Ford join hands to build battery plant in Europe
SK Innovation (SKI), the country's leading battery producer, is considering building its second overseas battery plant in Europe in collaboration with U.S. carmaker Ford, according to industry sources, Thursday.
Samsung close to finalizing mega US investment plan
Samsung Electronics denied reports Monday that the city of Taylor in Williamson County, the U.S. states of Texas, has been decided on as the location for its new foundry semiconductor plant.
[ANALYSIS] Antitrust wall emerges 'fear factor' in deal-making
Despite the justice ministry's decision to release Samsung leader Lee Jae-yong from prison with expectations for his help in addressing shortages of semiconductors and vaccines, the company is facing some difficulties along the road in terms of pushing major deals due to anti-competition concerns in the geo-political landscape.
LG Chem to establish biofuel joint venture
LG Chem, the country's top chemical company, said Thursday it has agreed with a local biodiesel company to establish a joint venture in South Korea.
Samsung in talks with Moderna to use COVID-19 vaccine in Korea
South Korea has confirmed that Samsung Biologics is in discussions with Moderna to allow its COVID-19 vaccines produced at Samsung's domestic manufacturing facilities to be used in the country.
FSC chief vows to rationalize cryptocurrency market
Financial Service Commission (FSC) Chairman Koh Seung-beom has reiterated his rather hawkish stance regarding the validity of crypto assets.
Korea to establish cryptocurrency policy review bureau
A day after the country's Financial Service Commission (FSC) chief nominee said he doesn't see cryptocurrencies as a financial asset, the FSC said Thursday it will establish an independent bureau to further strengthen the supervision of virtual assets, operators and to closely detect possible money laundering.