Hyundai Motor Group has become the largest shareholder of the nation's telecom giant, KT Corp. a rare move that is driving speculation about the carmaker's investment strategy and the possible impacts on KT's business direction. The change came as the National Pension Service, previously the largest shareholder of KT, sold some 2.88 million shares on March 20, lowering its stake to 7.51 percent from.
SM Entertainment s stock price skyrocketed by more than 18 percent, Friday, on its announcement that the K-pop company will terminate a seemingly “bizarre” contract at the end of this year, through which it has paid tens of billions of won annually to Like Planning, a private firm wholly owned by its founder Lee Soo-man. “Our company received an intention for early termination of the producing contract from Like Planning and is currently reviewing the proposal. If the matter is confirmed through the board s meeting, we will disclosure it without delay,” SM Entertainment said on Thursday in a regulatory filing.
Dominance of the domestic streaming market will now come down to a competition between who can provide better and more distinctive content, industry analysts and officials said on Monday.