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Huawei Eyes More Product Purchases, Investment in S. Korea amid U.S. Sanctions

Huawei Eyes More Product Purchases, Investment in S. Korea amid U.S. Sanctions

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 [...]

Hyundai to Invest 61 tln Won in Core, Mobility Biz by 2025

Hyundai to Invest 61 tln Won in Core, Mobility Biz by 2025

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 [...]

SK Joins Hands with Chinese Investment Firm to Create 1 tln Won Fund

SK Joins Hands with Chinese Investment Firm to Create 1 tln Won Fund

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 [...]

Korean App Market ONE Store Eyes Global Alliance to Compete with Google

Korean App Market ONE Store Eyes Global Alliance to Compete with Google

SEOUL, Dec. 1 (Korea Bizwire) — In the mobile application store business where only a few IT giants dominate the global market, it takes herculean efforts for newcomers to overcome the high entry barriers and make their presence known to industry players. To survive in the market monopolized by Google’s Play Store for Android devices [...]

Department Stores Target Big Spenders with Tailored Services

Department Stores Target Big Spenders with Tailored Services

SEOUL, Nov. 30 (Korea Bizwire) — Big-spending customers are a prime target for car companies, luxury brands, department stores and most other businesses as their purchasing can make up a huge portion of their revenues. South Korea’s department stores are elevating their VIP shopping experience by refurbishing their outlets, expanding their VIP concierge services and [...]

Hyundai Mobis to Invest $50 mln in U.S. Auto Sensor Firm

Hyundai Mobis to Invest $50 mln in U.S. Auto Sensor Firm

SEOUL, Oct. 23 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, said Wednesday it will invest US$50 million in a U.S. light detection and ranging (LiDAR) company for autonomous driving technologies. Hyundai Mobis has recently partnered with Velodyne Lidar, a world-leading LiDAR sensors provider, in order to mass-produce Level 3 autonomous [...]