Hyundai Motor Co. on Friday named sales chief David Zuchowski as the new chief of its US arm. Zuchowski will replace incumbent US chief John Krafcik, whose contract expires at the end of the year.
Korea, South
South Korean fund mulls $1B Bank of America stake sale -report
South Korea-based investment fund Korea Investment Corp (KIC) is considering selling a $1-billion stake in Bank of America after the latter's value halved since 2008, according to a report by Korean media.
Microsoft and Samsung to acquire stakes in French startups -report
Tech giants Microsoft and Samsung are in talks to acquire stakes in a France-based online music startup and a video-sharing website, according to a report by French weekly Le Journal du Dimanche.
Saudi Aramco to acquire $2B stake in SoKor's S-Oil Corp- official
An unnamed official from South Korea's S-Oil Corp said Saudi Arabian Oil Co or Saudi Aramco, the largest crude exporter in the world, will be buying a $2 billion stake in S-Oil, Bloomberg reported.
Apple, Samsung agree to bring in mediator to resolve dispute before March trial
Apple and Samsung consented to have a mediator to help put an end to their patent disputes before their next trial will begin in March, Bloomberg reported.
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South Korean oil refiner operator GS Holdings Corp entered into an agreement with commodity trader LG International Corp to acquire a combined stake in STX Energy for $598 million.
Local buyout funds like MBK Partners and Vogo Fund are now leading the domestic buyout market in South Korea just nearly a decade after its first private equity fund was established in the country, the Financial Times reported.
Gogolook chief executive officer Jeff Kuo confirmed to TechCrunch about the company's merger with Korean Internet company and LINE app owner Naver, which was worth TW$529 million or $17.6 million, according to a state report.
South Korean-based private equity firm Hahn & Co will pay $283 million to buy a 76% stake in Hanjin Shipping Co's bulk carrier business, Bloomberg reported.
Financial data from Mergermarket indicated an increasing influence of local buyout firms in South Korea, thanks largely to the support of the national government by relaxing regulations, a Financial Times report said.
Shares of NH Investment & Securities Co gained the most in more than three years after Woori Finance Holdings said its parent company NH Financial Group Inc was the frontrunner to purchase the Woori Investment & Securities Co.
Moody's Investors Service says that the announcement on 24 December by Woori Finance Holdings Co., Ltd. (WFH) that NongHyup Financial Group Inc. (NH FG) is the preferred bidder to acquire Woori Investment & Securities Co Ltd
Shares of Hyundai Merchant Marine jumped the most among shares of Hyundai Group companies following the conglomerate's announcement that it will sell assets to raise $3.1 billion to repay bonds due in two years.
Korean Air, South Korea's flag carrier and largest airline, has put up for sale its shares in refiner S-Oil and 13 planes to raise KRW3.5 trillion. Proceeds from the deal will be used to pare its debt and provide aid to affiliate Hanjin Shipping Co.
