SEOUL, Apr. 11 (Korea Bizwire) — The Korea Trade-Investment Promotion Agency (KOTRA) said Wednesday it has signed a memorandum of understanding (MOU) with Saudi Aramco, the world’s largest crude exporter, to enhance bilateral cooperation in energy, trade, investment and other fields. KOTRA said it expects the MOU signed at KOTRA’s headquarters in southern Seoul on [...]
SEOUL, Apr. 11 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals company, said Wednesday that it has decided to invest 239.4 billion won (US$224.8 million) in two separate joint ventures with Huayou Cobalt Co., a Chinese supplier of the mineral. The deal underscored LG Chem’s efforts to secure a stable supply of cobalt, [...]
SEOUL, Mar. 12 (Korea Bizwire) — A South Korean consortium made up of steelmaker POSCO and battery maker Samsung SDI Co. will invest 57.5 billion won (US$54 million) to build a cathode plant in Chile by 2021, POSCO said Sunday. The POSCO-Samsung SDI consortium beat 12 companies from seven countries to secure the Chilean project, [...]
(image: Samsung Electronics) SEOUL, Feb. 2 (Korea Bizwire) — Samsung Electronics Co. said Friday that it has signed a multi-year memorandum of understanding (MOU) with Singapore-based ride-hailing firm Grab in a push to make inroads into one of the fastest growing Internet service sectors across Southeast Asia. The South Korean tech giant said it and [...]
SEOUL, Jan. 29 (Korea Bizwire) — Hankook Tire Manufacturing Co., the world’s seventh-biggest tiremaker by sales, said Monday it will supply tires to all Scania’s construction vehicles. Hankook Tire began to supply original equipment (OE) tires to the European commercial vehicle company in November 2016. In its latest deal, the tiremaker will supply OE tires [...]
SEOUL, Jan. 11 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Thursday it invested in the Southeast Asian ride-hailing firm Grab for a possible business partnership in the transportation service sector. Hyundai Motor reportedly invested tens of billions of won to acquire a stake in Grab so it could get [...]
SEOUL, Jan. 4 (Korea Bizwire) — Samsung Electronics Co. said Thursday it has clinched a deal with U.S. mobile carrier Verizon Communications to supply commercial fifth-generation network equipment. Samsung and Verizon plan to kick off commercial 5G services in Sacramento, California, over the second half of 2018, the South Korean tech giant said in a [...]
SEOUL, Dec. 27 (Korea Bizwire) — LG Electronics Inc. said Wednesday it has inked an agreement with mapping solution provider HERE Technologies in the latest move to tap deeper into the self-driving automobile solutions. The South Korean company said HERE, which provides navigation solutions to some 100 million automobiles around the globe, is a suitable [...]
SEOUL, Dec. 19 (Korea Bizwire) — CJ Logistics Corp., the logistics arm of South Korea’s food and entertainment conglomerate CJ Group, said Tuesday it will absorb and merge with the group’s construction unit as part of efforts to hone its competitiveness. The merger ratio will be one CJ Logistics share for every 0.54 CJ Engineering [...]
SEOUL, Dec. 18 (Korea Bizwire) — Tesla Korea, the local unit of Tesla Motors Inc., said Monday that it has set up seven destination chargers at four CU outlets, South Korea’s largest convenience store chain, in the latest move to boost convenience for zero-emission cars. The slow-charging stations have been installed at four CU stores [...]