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Industry

Samsung SDI, Korea East-West Power sign pact to jointly enter ESS market

Samsung SDI and Korea East-West Power will step up cooperation in the energy storage system business. The companies signed a memorandum of understanding on joint cooperation in global energy development projects at StarPlus Energy in Kokomo, Indiana. Under the agreement, they will jointly develop and invest in energy projects at home and abroad, identify new business models and broaden cooperation, including energy management and operations.

People

S2W appoints former Jarvis & Villains chief Baek Joo-seok as COO

South Korean big data analytics AI company S2W said on Sunday it had hired former Jarvis & Villains head Baek Joo-seok as chief operating officer and vice president to accelerate execution of its mid- to long-term growth strategy after listing and bolster management efficiency. Baek previously led the fintech firm behind tax platform Samjjeomsam, overseeing strategy, organisational operations and external cooperation. He is set to lead strategic planning spanning roadmaps, M&A, investments and IR.

Games & Commerce

CJ Freshway to buy 27.5% stake in Marketboro to speed online shift

CJ Freshway agreed to acquire a 27.5% stake in Marketboro for a total of 40.3 billion won, becoming the company’s largest shareholder. The company said it signed a share purchase agreement and disclosed the deal on Feb. 5. Marketboro operates the Sikbom open-market platform and Marketbom ordering and distribution management services. CJ Freshway plans to supply products listed on Sikbom through its nationwide cold-chain network.