Telecommunications & Media

Shinsegae joins CJ, Dowkium consortium to buy JoongAng Ilbo

Shinsegae will participate with CJ Group in the acquisition of JoongAng Ilbo after the Dowkium-CJ consortium was named preferred bidder, industry sources said on Monday. Shinsegae is expected to take a minority stake and become the third-largest shareholder after the deal, they said. The purchase price is put at about 500 billion won, to be financed through a third-party allotted capital increase to support debt repayment and improve finances.

Finance

Sh Suhyup Bank offers gift vouchers to win sole proprietors as primary banking clients

Sh Suhyup Bank is running an event to attract small business customers’ card merchant payout settlement accounts, offering gift vouchers worth up to 50,000 won. The promotion targets sole proprietors who first register Suhyup Bank as the deposit account for card sales from at least two card companies. Benefits are based on cumulative deposits during the event period, with vouchers issued at three thresholds.