FTC refuses to delay decision on SK-CJ merger

[THE INVESTOR] The Fair Trade Commission has refused CJ HelloVision’s request to delay its decision on the planned merger and acquisition deal with SK Broadband, an IPTV firm run by SK Telecom. FTC officials told Herald Business and The Investor that they would not be pushing back the schedule.  Last week, the regulator handed down a preliminary decision to CJ and SK, saying that it opposes the merger, as it could hamper fair market competition by unleashing an excessively-dominant player. CJ an

July 8, 2016

CJ HelloVision asks watchdog to postpone decision on M&A with SK Broadband

[THE INVESTOR] Cable TV operator CJ HelloVision has sought the antitrust regulator’s permission to delay a meeting for deciding on its planned merger and acquisition deal with SK Broadband, a local IPTV firm.To that end, it also said it would like to delay submitting a report on the matter. “We have asked the Fair Trade Commission to postpone its July 15 standing committee meeting by a month, and the report deadline to Aug. 4,” CJ HelloVision said in a statement, stressing that the schedule is t

July 8, 2016

Naver chief to meet media ahead of LINE IPO

[THE INVESTOR] Lee Hae-jin, the reclusive leader of Internet giant Naver, will make an appearance at a press meeting on July 15 when the company’s subsidiary and mobile messenger operator LINE goes public in Japan“Naver board chairman Lee will attend a press meeting in Seoul on the same day when LINE is listed on the Tokyo Stock Exchange,” said Kim Hyun-ji, a public relations representative of the firm, adding the exact schedule and place are yet to be finalized. It will be Lee’s first appearanc

July 7, 2016

SKT offers free navigation app to take on KakaoNavi

[THE INVESTOR] SK Telecom has recently decided to offer its immensely popular navigation app T-Map for free to all mobile users. T-Map is the nation’s No. 1 mobile navigation service with more than 8 million users. But the company offered the service for free only to SK Telecom subscribers. Some 230 million mobile users subscribing network services of KT, LG Uplus and other budget plans are expected to benefit from the free service from July 19. The decision comes as Kakao is expanding its onlin

July 6, 2016

Netmarble Games seeks to buy Playtika

[THE INVESTOR] Netmarble Games, South Korea’s leading online game developer and publisher, has joined the race to buy Israel-based social casino game firm Playtika in a deal could worth over 4 trillion won (US$3.4 billion). It will be the largest acquisition deal made by a South Korean game company since No. 1 player Nexon and NCSoft jointly attempted to takeover Electronic Arts for 4 trillion won in 2012. According to a source on July 6, Netmarble Games submitted a letter of intent for the tran

July 6, 2016

SKT seeks countermeasures after failed merger

[THE INVESTOR] SK Telecom on July 5 expressed regrets at the antitrust watchdog’s disapproval of its planned merger with the nation’s No. 1 cable TV operator CJ HelloVision. The company had planned to merge its Internet TV affiliate SK Broadband with the CJ unit, becoming the nation’s second-largest paid TV operator and the No. 1 in the long term. The deal price was estimated at 1 trillion won (US$823 million). “The watchdog’s decision comes as a shock,” the company said in a statement. “We expr

July 5, 2016

NHN Comico starts Chinese service via Baidu

[THE INVESTOR] NHN Entertainment ’s Japanese operation NHN Comico said July 5 it has signed a memorandum of understanding with China’s largest search engine Baidu. Under the agreement, Comico has already started distributing a total of 52 webtoons through Baidu’s popular Tieba, an online community-based group discussion service. Seven Korean webtoons, including “To a lower place,” “World where everyone has become beautiful,” and “Brave civilian,” have also been included in the Chinese service. C

July 5, 2016

ESTsoft receives W10b funding to push AI business

[THE INVESTOR] Korean software developer ESTsoft, best known for its anti-virus solution ALYac, said July 4 it has secured a new funding worth 10 billion won (US$8.7 million) from local venture capitalist Atinum Investment.The new investment was made through a 5-year convertible bond that was acquired by Atinum Investment. The company said the new funding will be used mainly for artificial intelligence-related development and other security businesses. ESTsoft has poured resources into AI-based

July 5, 2016

Watchdog opposes merger of SK Broadband, CJ HelloVision: report

[THE INVESTOR] The Fair Trade Commission has reportedly objected to the planned merger and acquisition deal between IPTV operator SK Broadband and cable TV firm CJ HelloVision. The antitrust agency said in its July 4 evaluation report of the merger plans to SK Telecom -- the parent company of SK Broadband -- that the transaction should not be allowed as it could hamper fair competition in the market.The combination of SK Broadband, a wholly owned subsidiary of No.1 mobile carrier SK Telecom, and

July 5, 2016

Naver upgrades tourist services ahead of PyeongChang Olympics

[THE INVESTOR] South Korea’s No.1 portal Naver has unraveled plans to beef up its online services aimed at foreign tourists ahead of the 2018 PyeongChang Winter Olympics, the company spokesperson said on July 5. Naver estimes 5 million tourists -- including 50,000 foreign visitors -- to participate in the Winter Olympics in 2018. The portal’s e-services -- mobile map, search engine, and booking – will be renovated. A global login and payment system is also being considered.The firm revealed its

July 5, 2016