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S. Korean Hotels Set Eyes on Southeast Asia

S. Korean Hotels Set Eyes on Southeast Asia

SEOUL, Dec. 3 (Korea Bizwire) — South Korean hotel chains are targeting Southeast Asian countries to bypass tough competition at home and take advantage of the region’s fast-growing economy, industry watchers said Sunday. Industry watchers said Southeast Asia is an attractive market for local hotel chains as South Koreans also frequently visit the region for [...]

Hyundai to Invest $5 mln in U.S. Center for Mobility

Hyundai to Invest $5 mln in U.S. Center for Mobility

SEOUL, Oct. 25 (Korea Bizwire) — Hyundai Motor Group said Wednesday it will invest US$5 million in a U.S. vehicle research and development center, a move aimed at helping it develop next-generation automotive technologies. The South Korean automaking conglomerate has made the investment decision to seek cooperation in next-generation car technologies and test the technologies [...]

CJ Cheiljedang Buys Brazilian Firm, Launches Vegetable Protein Manufacturer

CJ Cheiljedang Buys Brazilian Firm, Launches Vegetable Protein Manufacturer

SEOUL, Aug. 28 (Korea Bizwire) — CJ Cheiljedang Corp., South Korea’s leading maker of processed foods, said Monday it has completed the acquisition of a Brazilian company to expand its foothold in the vegetable protein business. Earlier in June, the Korean firm announced its plan to buy Selecta, a Brazilian company that manufactures soy protein [...]

Crowdfunding in S. Korea Soars 29 pct This Year

Crowdfunding in S. Korea Soars 29 pct This Year

SEOUL, Aug. 25 (Korea Bizwire) — The amount of crowdfunding in South Korea shot up nearly 29 percent this year, data showed Friday, showing the platform growing as an effective financing option for startups. According to the data by the Korea Securities Depository, 106 companies raised a combined 14.2 billion won (US$12.6 million) from 5,826 [...]

Samsung Bioepis Joins Hands with Takeda to Develop Novel Drugs

Samsung Bioepis Joins Hands with Takeda to Develop Novel Drugs

SEOUL, Aug. 21 (Korea Bizwire) — South Korean biopharmaceutical firm Samsung Bioepis Co. said Monday that it has reached an agreement with Japan-based drug giant Takeda Pharmaceutical Company Ltd. to jointly develop new original drugs in a bid to expand its business area beyond copies of drugs. Under the partnership, the two will develop novel [...]

Foreign Ownership of KOSDAQ Stocks Hits Record High

Foreign Ownership of KOSDAQ Stocks Hits Record High

SEOUL, Aug. 18 (Korea Bizwire) — Foreign ownership of stocks traded on South Korea’s secondary stock market has hit a new high, data showed Friday, as offshore investors turn to undervalued tech firms there after exiting the main bourse. As of Thursday, offshore investors held 25.98 trillion won (US$22.8 billion) worth of shares traded on [...]