SEOUL, Jan. 9 (Korea Bizwire) — U.S.-based chemical firm Dupont on Thursday announced its plan to invest US$28 million in South Korea to build a production line for photoresist, which can potentially help Asia’s No. 4 economy reduce its dependence of the key industrial material on Japan amid their trade spat. Under the project, Rohm [...]
SEOUL, Jan. 2 (Korea Bizwire) — South Korea’s Hyundai Motor Group said Thursday it will invest more than 100 trillion won (US$87 billion) in the next five years to increase its presence in the future mobility markets. “We are planning to launch 44 electrified vehicles, including 11 all-electric models, by 2025, as we aim to [...]
SEOUL, Dec. 20 (Korea Bizwire) — Chinese telecommunications behemoth Huawei Technologies Co. on Friday vowed to beef up its business in South Korea by increasing the purchase of parts for its network equipment and smartphones amid continued U.S. sanctions. Karl Song Kai, head of Huawei’s global media and communications, said Huawei also plans to increase [...]
SEOUL, Dec. 18 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. are set to fare well on competitive sport utility vehicles and extended presence in the U.S. market next year following an above-average performance this year amid a slowing economy, analysts say. Three others — GM Korea Co., Renault Samsung Motors [...]
SEOUL, Dec. 17 (Korea Bizwire) — Shares in Samsung Electronics and SK hynix — South Korea’s two largest chipmakers — soared to close at fresh yearly highs on Tuesday, buoyed by expectations for growing demand and a recovery in global chip prices. Samsung, the world’s No. 1 memory chipmaker, spiked 3.66 percent to close at [...]
SEOUL, Dec. 13 (Korea Bizwire) — Samsung Electronics Co. will invest an additional US$8 billion into its memory chip plant in Xian, China, officials confirmed Thursday, as the South Korean tech giant further expands its presence in the world’s second largest economy. According to Chinese media and Xian’s municipal government, Kang Bong-yong, a Samsung Electronics [...]
SEOUL, Dec. 4 (Korea Bizwire) — U.S. chipmaker Intel Corp. said Wednesday that it will focus on “edge computing” that could hold the key to the success of artificial intelligence (AI) in the future. Edge computing refers to the practice of storing data on computers located near cell towers and other network equipment to improve [...]
SEOUL, Dec. 4 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest carmaker by sales, said Wednesday it will invest 61 trillion won (US$51 billion) in its core automobile and future mobility businesses by 2025. The decision is designed to enhance the competitiveness of its existing car manufacturing business and generate new business opportunities by [...]
SEOUL, Dec. 3 (Korea Bizwire) – South Korean energy and telecom conglomerate SK Group plans to join hands with Chinese private equity firm Hillhouse Capital Group to create a mutual fund worth 1 trillion won (US$843 million) for investment in the Chinese food industry. SK China, SK’s Chinese unit, held a board meeting recently and passed [...]
SEOUL, Dec. 3 (Korea Bizwire) — Mercedes-Benz Korea on Tuesday launched car rental services as it moves to gain a bigger share in Asia’s fourth-biggest economy. Daimler Mobility AG, the financial affiliate of Mercedes-Benz, has set up Mercedes-Benz Mobility Korea (MBMK) to enable South Korean customers to rent its vehicles for one to five years, [...]