WeWork downsizing

Real estate Asia Property to buy WeWork building in Seoul

Seoul-based real estate investment firm Asia Property has been picked as the sole preferred bidder for an office building currently occupied by cowo...

Corporate restructuring Fila sportswear brand downsizes loss-making US business

South Korean-owned sportswear brand Fila said on Tuesday it scaled back its loss-making US business to improve earnings through a restructuring in N...

Retail Duty-free underdog Kyung Bok Kung outshines Lotte, Shilla

Kyung Bok Kung Duty-Free Co., a lesser-known travel retailer, has bucked the trend of South Korea's sluggish duty-free retail industry on a downward...

Mergers & Acquisitions Kakao to merge dk techin and Kakao Brain

South Korea's Kakao Corp. said on August 23 that its mobile solution development subsidiary dK Techin Corp. will merge with its AI technology affili...

Retail Duty-free stores: Golden goose gone for Korean retailers

South Korea welcomed a record-high number of post-pandemic foreign tourist arrivals for a single quarter in the first three months of this year, but...

Real estate WeWork closes major office in Seoul for restructuring

Coworking space operator WeWork Inc. is slated to shut down a major office in Seoul, once one of the largest WeWork offices in Asia, in September ...

Corporate restructuring Naver, Com2uS slash workforce to downsize new businesses

South Korea’s leading online platforms and gaming publishers such as Naver Corp., Com2uS Corp. and Kakao Corp. have joined global Big Tech com...

Real estate WeWork’s downsizing plan in Korea to hit office market

Coworking space provider WeWork Inc. plans to downsize its business in South Korea, according to banking sources on Sunday. Market watchers say inve...

Corporate restructuring Kolon Industries to downsize industrial film business amid weak demand

Kolon Industries Inc., a South Korean chemical and textile manufacturer, is downsizing its industrial film business amid weak demand and growing com...

The KED View WeWork vs Starbucks as workspace in South Korea

In 2019, WeWork’s business model underwent a reality check.Its application for an initial public offering the same year was met with investor ...

Corporate governance Google, Microsoft laying off staff in S.Korea

The South Korean branches of Google and Microsoft have started efforts to cut staff in line with what analysts call large-scale restructuring of glo...

Future mobility Hyundai mulls downsizing skyscraper for future mobility

Hyundai Motor Co. is at a crossroads over the construction of its $3.4 billion global business center, deliberating on whether to downsize the 105-s...