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Incheon Airport to Invest 4.2 tln Won in Expansion, Upgrades by 2023

Incheon Airport to Invest 4.2 tln Won in Expansion, Upgrades by 2023

SEOUL, Dec. 20 (Korea Bizwire) — Incheon International Airport Corp. said Thursday it will invest 4.2 trillion won (US$3.7 billion) to build a fourth runway and expand facilities by 2023. The airport began operations in 2001 and opened its second terminal in January to meet rapid air passenger growth. It currently handles 72 million travelers [...]

SK Innovation to Invest 1.14 tln Won in U.S. Battery Plant

SK Innovation to Invest 1.14 tln Won in U.S. Battery Plant

SEOUL, Nov. 26 (Korea Bizwire) — SK Innovation Co., South Korea’s top energy-chemical business, said Monday that it will invest 1.14 trillion won (US$1.01 billion) to build an electric vehicle (EV) battery plant in the United States. The company said it has decided to construct the 9.8 gigawatt-hour capacity battery plant in the city of [...]

Softbank Pledges US$2 Bln Investment in Coupang

Softbank Pledges US$2 Bln Investment in Coupang

SEOUL, Nov. 23 (Korea Bizwire) — Japanese software giant Softbank Group Corp.’s chairman, Masayoshi Son, a third-generation Korean-Japanese most widely known by his Korean name “Son Jeong-ui” here, has reportedly decided to invest US$2 billion in Coupang, leaving experts seeking an explanation as to Son’s great interest in the Korean e-commerce website. Meanwhile, other competing [...]

Manufacturers Shift Investment Focus to Vietnam from China

Manufacturers Shift Investment Focus to Vietnam from China

SEOUL, Nov. 22 (Korea Bizwire) — South Korean manufacturers have been shifting the focus of their overseas direct investment to Vietnam from China thanks to tax benefits, cheaper labor and other favorable conditions, a report said Thursday. Vietnam accounted for 17.7 percent of South Korean manufacturing companies’ total direct overseas investment in 2017, up sharply [...]

Hyundai Motor Invests in U.S. Neuroscience Startup

Hyundai Motor Invests in U.S. Neuroscience Startup

SEOUL, Oct. 10 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest carmaker by sales, said Wednesday it has invested in a U.S. neuroscience startup in a move to develop automated vehicles. The strategic investment in Perceptive Automata aims to allow Hyundai Motor to secure artificial intelligence-related technologies which could be utilized in the fields [...]

SK Innovation to Invest 400 bln Won to Build EV Battery Separator Plant in China

SK Innovation to Invest 400 bln Won to Build EV Battery Separator Plant in China

SEOUL, Oct. 7 (Korea Bizwire) — SK Innovation Co., South Korea’s largest refiner by sales, said Sunday that it will invest 400 billion won (US$353.8 million) to build a lithium-Ion battery separator plant in China. The company said it plans to break ground early next year for the plant that will make lithium-ion battery separator [...]

SK hynix Launches New NAND Flash Production Line

SK hynix Launches New NAND Flash Production Line

CHEONGJU, Oct. 4 (Korea Bizwire) — South Korea’s No. 2 chipmaker SK hynix Inc. on Thursday launched a new production line for NAND flash products under an estimated 20 trillion won (US$17.7 billion) project. The company said the new M15 line in Cheongju, located 140 kilometers south of Seoul, covers 60,000 square meters and will [...]