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Big Firms’ R&D Spending Reaches Record High in 2023 Despite Lower Earnings

Big Firms’ R&D Spending Reaches Record High in 2023 Despite Lower Earnings

SEOUL, Jun. 23 (Korea Bizwire) – Research and development (R&D) expenditures by major South Korean companies hit an all-time high last year despite their falling sales amid an economic slowdown, data showed Sunday. The country’s top 1,000 companies made investments of 72.5 trillion won (US$52.12 billion) combined in 2023, up 8.7 percent from a year [...]

Samsung Chairman Emphasizes ‘Bold’ Investment Strategy During Visit to Malaysia

Samsung Chairman Emphasizes ‘Bold’ Investment Strategy During Visit to Malaysia

SEOUL, Feb. 12 (Korea Bizwire) – Samsung Electronics Co. Chairman Lee Jae-yong has emphasized the importance of “bold” investments during a visit to Samsung SDI’s battery production line in Malaysia, the company said Monday. The visit was made on Friday in Lee’s first overseas trip since he was cleared of all charges in a Feb. [...]

LG Electronics Plans 10 Trillion Won Investment in 2024 to Bolster Growth Momentum

LG Electronics Plans 10 Trillion Won Investment in 2024 to Bolster Growth Momentum

LAS VEGAS, Jan. 10 (Korea Bizwire) – LG Electronics Inc.’s chief executive said Wednesday the company’s annual investment will reach 10 trillion won (US$7.57 billion) this year in a bid to expand its business boundaries and secure future growth momentum. “Despite protracted macroeconomic uncertainties, we are committed to maximizing future growth by increasing investment based [...]

Amazon’s Cloud Division Commits 7.85 Trillion Won Investment in South Korea by 2027

Amazon’s Cloud Division Commits 7.85 Trillion Won Investment in South Korea by 2027

SEOUL, Oct. 11 (Korea Bizwire) – A unit of U.S. retail web giant Amazon.com Inc. plans to invest 7.85 trillion won (US$5.85 billion) in South Korea’s cloud computing infrastructure by 2027, company officials said Wednesday. The plan came as competition is intensifying among Amazon and other cloud computing providers in South Korea. Amazon launched its [...]

Samsung SDI Invests $1.97 Billion in Second U.S. Battery Plant in Partnership with Stellantis

Samsung SDI Invests $1.97 Billion in Second U.S. Battery Plant in Partnership with Stellantis

SEOUL, Sept. 27 (Korea Bizwire) – Samsung SDI Co. will spend US$1.97 billion on its second battery manufacturing facility it is building in the United States jointly with Stellantis N.V., the South Korean battery maker said in a filing Wednesday. The disclosure came about two months after their U.S. venture, StarPlus Energy, announced a plan [...]

Samsung to Invest $1 Million in Texas A&M University to Foster Talent for the Chip Industry

Samsung to Invest $1 Million in Texas A&M University to Foster Talent for the Chip Industry

SEOUL, Sept. 12 (Korea Bizwire) – Samsung Electronics Co. said Tuesday it will invest US$1 million in Texas A&M University’s education and recruiting programs meant to nurture talent in the semiconductor sector. The South Korean chip giant signed the partnership with the engineering school last week in an effort to secure talent for its semiconductor [...]

Samsung Electronics to Borrow More than US$15 bln from Display Unit for Investment

Samsung Electronics to Borrow More than US$15 bln from Display Unit for Investment

SEOUL, Feb. 15 (Korea Bizwire) — Samsung Electronics plans to borrow more than US$15 billion from its display-making subsidiary to secure operational costs, the company has said. The South Korean tech giant said in a regulatory filing on Tuesday that it will borrow 20 trillion won (US$15.78 billion) from Samsung Display at an interest rate [...]

Dutch Chip Firm ASM to Invest US$100 mln in S. Korea for Facility Expansion

Dutch Chip Firm ASM to Invest US$100 mln in S. Korea for Facility Expansion

SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s industry ministry said Thursday it agreed with Dutch semiconductor equipment supplier ASM to boost cooperation for the firm’s planned investment of US$100 million to build a production factory and a research and development center in South Korea. The two sides signed a memorandum of understanding (MOU) in [...]

Danish Wind Turbine Producer to Invest US$300 mln in S. Korea

Danish Wind Turbine Producer to Invest US$300 mln in S. Korea

DAVOS, Jan. 18 (Korea Bizwire) — Danish wind turbine producer Vestas Wind Systems will invest US$300 million in South Korea and move its Asia-Pacific headquarters to the country, the presidential office said Wednesday. The investment will be made toward a large-scale turbine parts plant that will produce key equipment for wind turbines for export to [...]

Top Firms Invest Big in Environment, Safety Areas in 2022

Top Firms Invest Big in Environment, Safety Areas in 2022

SEOUL, Jan. 18 (Korea Bizwire) — Major South Korean companies spent more than 5 trillion won (US$4.04 billion) in 2022 to help cut air pollution and promote workplace safety as part of their so-called environment, social and governance (ESG) management, a report said Wednesday. The country’s top 100 firms by sales invested 5.44 trillion won [...]