Kakao‘s spinoff IPOs seen losing momentum

Kakao, one of South Korea’s two largest internet giants along with Naver, is seen as holding back its plans to float shares of key subsidiaries in listings, amid looming market disappointment over controversial sell-offs by executives. Earlier this month, CEOs of Kakao Pay and KakaoBank were accused of driving down stock prices with sell-offs that critics say should not have taken place right after their listings when their shares ran high. This prompted regulators to vow greater protecti

LG Energy Solution IPO brings record-breaking fees

An 11-member brokerage syndicate underwriting an initial public offering of LG Energy Solution next week is expected to raise a whopping 89 billion won ($75 million) in management fees following the record-breaking retail bids, made on Tuesday and Wednesday, according to regulatory filings on Thursday. The fees account for 0.7 percent of 12.7 trillion won. The electric vehicle battery maker is expected to raise from 42.5 million shares priced at 300,000 won apiece. Separately, they are expected

Hyundai Glovis launches online platform for used car purchases

Hyundai Glovis, Hyundai Motor Group’s logistics arm, said Thursday that it has launched Autobell, an online platform for used car sales and purchase, to diversify its business portfolio. Hyundai Glovis has been operating a used car business since 2001, mostly focused on B2B sales of secondhand cars through auctions. Its parent company Hyundai Motor sought to enter the certified used car market lately, but it seems blurry whether the automaker can launch B2C business as planned this mont

LG Energy Solution’s strategies to prevent EV fires after IPO

LG Energy Solution will employ four preemptive measures as it can’t afford yet another recall crisis after going public next week. According to market analysts Thursday, the South Korean battery giant will adopt Z-folding technology, manufacture more batteries resistant to gas issues, directly manufacture key safety components and mount ESS with fire-resistant LFP batteries. Z-folding The adoption of Z-folding technology reflects LG Energy Solution’s determination not to repeat

New Park Hyatt Seoul manager singles out Gen MZ as key players shaping the hotel industry

Park Hyatt Seoul General Manager Andrew Ashdown has fond memories of running room to room as a child in a hotel his parent operated. He has always associated being in a hotel with positive emotions and, as the new general manager of Park Hyatt Seoul, his goal is to provide guests with similarly lasting experiences by delivering meaning services.  Ashdown, who took the post in November after three years as General Manager of Park Hyatt Busan, has said that he will begin this process by seek

Pernod Ricard Korea looks to infuse Korean culture into drinking

French wine, spirit seller eyes fast growing demand for high-end liquor, at-home occasions here

Kang Ha-neul returns as trouble-making swordsman in ‘The Pirates: Goblin Flag’

Kang Ha-neul is returning to the big screen as a trouble-making swordsman in “The Pirates: Goblin Flag” directed by Kim Jung-hoon. Director Kim’s new movie is set in the Joseon era and revolves around a journey by pirates looking for hidden treasures of a Goryeo Kingdom that no longer exists. “When I first read the script, I thought of Muchi (the character played by Kang) as a troublemaker, so it was important for him to stay somewhat hyper most of the time. I thought o

Moonbyul says 'love is a movie' with new EP ‘6equence’

The Mamamoo member puts behind worries, now feels ready to enjoy her work

N.Korea launches two apparent ballistic missiles eastward from Pyongyang

A spate of missile tests serves ‘domestic political and foreign policy purposes,’ analysts say

Construction site safety under scrutiny after Gwangju collapse

Safety inspections took place at major construction sites across South Korea on Wednesday, as the search continued for workers missing in Tuesday‘s collapse of a Gwangju apartment building that was under construction. The Gwangju Metropolitan Government earlier in the day ordered the temporary shutdown on all construction sites in the city run by Hyundai Development Co., the company involved in the accident. HDC, later in the day, suspended work on all of its worksites across the country

Metaverse scramble exposes Samsung's software weakness

Despite stagnant smartphone biz, Samsung still seen tied to mobile while others on race to new market

Mysteries, scandals surround whistleblower’s death

Allegation of proxy legal payment for Lee Jae-myung comes back into public focus