Games & Commerce

OneStore union opposes sale push, citing low valuation and opaque process concerns

OneStore\'s labour union has opposed a reported push by SK Square to sell its OneStore unit, citing concerns about undervaluation and a lack of transparency in the process. Industry sources said SK Square is pursuing a sale valued at about 70 billion won, with Nexthrust, a KOSDAQ-listed company, widely mentioned as a likely buyer. The union demanded clear explanations on the deal structure, valuation basis, negotiation process, neutrality risks and protections for employees and employee shareholders.

Finance

KOSPI tumbles more than 5 percent, Kosdaq clings to 1,000 level

South Korea\'s KOSPI slumped more than 5 percent on Friday to end at 8,160.59 as weakness in U.S. semiconductor shares stemming from Broadcom spread to local chip heavyweights. The Korea Exchange triggered a sell-sidecar early in the session, halting program sell orders for five minutes. Retail investors were net buyers, while foreigners and institutions sold. The Kosdaq fell 4.50 percent to close at 1,002.44.