Deals
China's Record M&A Boom in Korea Furthers Xi's New Economy Dream
- Chinese investment in Korean companies more than doubles
- Insurance, technology and cosmetics firms among targets
Chinese Companies on Korean Shopping Spree
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Companies in China are buying their South Korean counterparts at a record pace, tapping into one of the world’s most innovative countries to accelerate President Xi Jinping’s push for an economy led by technology and consumer services.
Chinese investments in Korean companies soared 119 percent this year to $1.9 billion, led by deals in the insurance, technology, health-care and cosmetics industries, according to data compiled by Bloomberg. The acquisition spree is likely to accelerate as China seeks to hasten a transformation away from smokestack industries that South Korea began more than 20 years ago, according to Samsung Asset Management Co. and Hyundai Securities Co.