Korea's antitrust regulator said Sunday the value of corporate mergers and acquisitions (M&As) jumped 48.7 percent on-year in the first half, led by deals by large business groups.
Harman, a car audio producer owned by Samsung Electronics, acquired U.S. automotive start-up Savari, the first deal after Samsung declared earlier this year that it would be more actively looking for mergers and acquisitions.
Match Group, operator of dating app Tinder, acquired Seoul-based start-up Hyperconnect for $1.725 billion in cash and stock, the companies said Wednesday. The deal would give Match Group a 100 percent stake in the smaller company.
Korean Air Lines has been challenged left and right as it tries to acquire Asiana Airlines, with angry major shareholders raising a litany of questions about the deal, which was first signed in November.
Coupang has bigger problems now than just reporting massive losses. A competitor is being formed that could shake up the e-commerce business and threaten its position in the market.
The Fair Trade Commission (FTC) on Tuesday allowed Binggrae to scoop up Haitai Icecream, an acquisition that will bring two of Korea's top purveyors of frozen treats under one roof.
Asiana reported a 115.1 billion won operating profit, a turn around from a 107 billion won loss during the same period in 2019. It also reported a net profit of 116.2 billion won, a turnaround from 57.7 billion won net loss a year ago.
Jeju Air warned Eastar Jet that its acquisition could be scrapped if it fails to meet the conditions in the agreement signed in March.
In a statement Tuesday, Hyundai Development Company stressed that its determination to acquire Asiana remains, but the value of the airline has been reduced as a result of the coronavirus pandemic. HDC signed the acquisition agreement in December.
Hanwha Systems has acquired U.K.-based Phasor Solutions, a satellite antenna developer, the company said Monday. The two companies signed the deal on Friday for an undisclosed amount.