Companies
New establishments and moves in Örebro's city center
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At the start of the new year, activity is picking up in Örebro's city center with shops opening, closing, or relocating. Öbo is busy filling the locales. Several new companies have also been launched in the region.
The Korean unit of online retailer Coupang transferred more than 900 billion won ($620 million) in expenses to its US headquarters in 2024, according to an audit report. These related-party expenses, including service fees and royalties, totaled over 2.5 trillion won from 2020 to 2024. Tax authorities are investigating the transactions amid concerns over potential tax avoidance.
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Canadian coffee chain Tim Hortons announced on January 28 that it will more than double its South Korean outlets to 50 this year through a localization strategy. The expansion includes 26 new stores, one of which will be a signature outlet with an expanded menu and larger space. An Tae-yeol, chief brand officer of operator BKR, highlighted efforts to meet high Korean consumer expectations.
LS MnM CEO Koo Dong-whi has been promoted to president in LS Group's recent year-end executive reshuffle, advancing in the competition for control among the conglomerate's third-generation heirs. The 43-year-old's promotion comes a year after his appointment as CEO of the nonferrous metals company. The group praised his efficient management and aims for him to lead its electric vehicle materials ecosystem.
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Posco International has completed the full value chain of its palm oil business by acquiring a 65.72 percent stake in Indonesian plantation firm Sampoerna Agro for $566 million. The total investment is expected to reach $862 million due to a mandatory tender offer for minority shares. The deal adds 128,000 hectares to its operations, bringing the total global agricultural base to 150,000 hectares.