South Korea

LG's new phablet G Flex has curved display and self-healing feature

South Korea-based Android manufacturer LG has launched G Flex, a new phablet which has a curved display and self-heals or minimizes scratches on the surface.

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Samsung invests in American nanotech firm XG Sciences to co-develop next-gen batteries

Seoul, South Korea-based startup investor Samsung Ventures invested an undisclosed amount in Michigan, US-based nanotech firm XG Sciences to co-develop more advanced batteries for consumer electronics.

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American car booking firm Uber to invade Asia Pacific market -source

San Francisco, California-based online car booking service Uber planned to venture into the Asia Pacific market and start hiring staff members across 14 cities, according to an Uber representative.

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South Korean Bitcoin startup raises $400K from Silicon Valley investors

South Korea-based Bitcoin startup Korbit raised $400,000 in funding from several Silicon Valley investors including Tim Draper, Naval Ravikant, David Lee, and Barry Silbert, for the company's growth.

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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.

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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.

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Marubeni divests Aussie power plant stake to South Korean buyer -source

Japan-based trading house Marubeni Corp sold its 30% interest in Australia-based Milmerran Power Station to a buyer in South Korea for under A$200 million ($179 million), according to a source familiar with the deal.

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Hyundai Motor US names David Zuchowski as new chief, John Krafcik to step down by year's end

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.

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GS Holdings and LG to pay $598M for combined stake in South Korea's STX Energy

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.

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South Korean private equity funds lead in domestic buyout market

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.

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South Korean private equity fund Hahn & Co to pay $283M for Hanjin Shipping's bulk shipping unit

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.

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Local private equity in South Korea rises against foreign competition

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.

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South Korean flag carrier Korean Air sells S-Oil stake, planes to raise KRW3.5 trillion

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.

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South Korea's LIG Insurance picks Goldman Sachs to advise on stake sale

LIG Insurance Co. has put up for sale a controlling stake of 20.96% in the South Korean non-life insurer to compensate investors for losses sustained after buying debt issued by its affiliate. It has hired Goldman Sachs Group to advise on the sale.

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Samsung loses to Apple on patent infringement case

A South Korean court awarded Apple a legal victory on a patent infringement case filed by Samsung Electronics Co. The decision would enable Apple to continue selling its products in South Korea, Reuters said in its report.

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