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BTS label Big Hit gears for IPO Finance The South Korean music label behind K-pop sensation BTS has filed for a preliminary review for an initial public offering, according to the nation’s stock market operator Korea Exchange (KRX) on May 29. Founded in 2005 by music producer Bang Si-hyuk, Big Hit Entertainment houses BTS and other K-pop singers and bands, including Lee Hyun and Tomorrow X Together. Bang, who serves as the entertainment firm’s chairman, currently holds 45.1 percent stake, while mobile gaming firm Netma |
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FTC approves Hyundai Oilbank-SK Networks merger Economy South Korea’s ant**rust watchdog has approved Hyundai Oilbank’s plan to take over SK Networks’ gas station business, officials said on May 29. Upon the approval, Hyundai Oilbank has become the second-largest in the industry in terms of the number of gas stations as it has acquired 306 SK Networks gas stations. SK Energy remains number one. The oil refining firm signed a contract with SK Networks to acquire its retail business of petroleum products on Feb. 28 and reported |
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Samsung SDI injects capital into JV for EV battery materials Deals South Korean battery maker Samsung SDI said on May 29 it has started injecting capital into EcoPro EM, a joint venture with EcoPro BM, a supplier of electric vehicle battery materials to Samsung. According to Samsung SDI, it will fund a total of 120 billion won ($96.9 million) with EcoPro BM into EcoPro EM. Samsung SDI and EcoPro BM will contribute 48 billion won and 72 billion won, respectively, to control 40 percent and 60 percent of the JV, respectively. The JV is expected to beg |
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SK Telecom to develop AI-based post production platform Mobile & Internet SK Telecom on May 29 said that the company would develop an AI-based post production platform to help local firms to export cultural products abroad. The South Korean telecommunications firm said it recently signed a memorandum of understanding with local post production firm New ID to collaborate on the project. “The latest signing came to meet increased foreign demand for Korea‘s cultural productions,” the company said. “The two companies expect the new platform co |
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