Major South Korean newspaper lines up rescue by tech, food companies

Nikkei Asia · Staff Writer · 2026-11-06 00:16 UTC

JoongAng Ilbo to sell combined 95% stake to domestic consortium

SEOUL -- South Korean newspaper JoongAng Ilbo will raise 520 billion won ($383 million) through a share placement to a group of investors including tech and retail companies after its parent group suffered a cash crunch.

JoongAng Ilbo to sell combined 95% stake to domestic consortium

South Korean newspaper JoongAng Ilbo has faced a credit crisis after its parent company filing for rehabilitation in June. (Photo by Ahn Seong-bok)

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