Ju-min Park

Saudi Aramco picks 17% stake in Hyundai Oilbank’s refinery for $1.2b

Aramco has the option to buy an additional 2.9 per cent stake in Hyundai Oilbank.

South Korea’s Kumho to sell $314m stake in Asiana Airlines

The company said in a regulatory filing that its board had approved the stake sale plan, aimed at securing liquidity and improving its financial structure.

South Korea’s Kakao strikes deal with taxi unions to run ride-sharing services

Kakao Corp’s unit proposed launching the car-sharing service last year, but was not able to start it amid fierce protests.

Kakao Mobility seeks to broker peace with taxi drivers protesting car-sharing service

The transportation unit of Kakao Corp also said it has decided to halt trials of the car-sharing service.

South Korea’s food giant CJ buys US firm Schwan’s for $1.84b

Schwan’s, owner of brands such as Red Baron, Freschetta, MaMa Rosa’s and Tony’s pizza, has an annual revenue of $3 billion.

South Korea’s Lotte to start afresh with revised $44b five-year investment plan

The group had previously pledged $35.20 billion through 2021 after Chairman Shin Dong-bin apologized for a corruption probe involving his family.

Chasing new growth drivers, Samsung to invest $22b in AI, 5G, biopharma

The conglomerate is expanding into new segments as its core semiconductor and smartphone businesses show signs of weakness.

S Korea’s LG Chem, China’s Zhejiang Huayou Cobalt to set up battery material JVs

LG Chem said it would raise a total of 239.4 billion won ($224.8 million) by 2020.

L’Oreal emerges as preferred bidder for S.Korean cosmetics firm Nanda

The deal would make L’Oreal the latest foreign investor to bet on continued demand for Korean beauty products in Asian markets such as China, backed by the popularity of Korean pop culture.

Armed with $1b, S Korean messaging app Kakao targets content, platform M&As

Kakao could spend more than 70 percent of the money raised from GDRs on M&A and acquire companies this year and in early 2019.