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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s SK Group said Monday it has signed a partnership deal with the sovereign wealth fund of the United Arab Emirates (UAE) to establish a carbon credit market in Asia, as part of efforts to tackle climate change in the private sector. SK Group Chairman Chey Tae-won signed [...]
SEOUL, Dec. 2 (Korea Bizwire) — As Korean dramas and films enthrall a wider global audience, entertainment giant Disney now looks ready to ride the Korean Wave to expand its presence in the thriving streaming market. Following streaming leader Netflix’s international success of “Squid Game,” more viewers from across the globe are watching Korean series [...]
SEOUL, Oct. 12 (Korea Bizwire) — Hyundai Motor Group said Wednesday it will invest 18 trillion won (US$13 billion) to apply an advanced software program to all of its vehicles and offer its customers regular software updating services. The South Korean carmaker has decided to make the massive software investment to launch most of its [...]
SEOUL, Oct. 12 (Korea Bizwire) — SK Trading International Co., a subsidiary of South Korean refiner SK Innovation Co., said Wednesday it has invested in a U.S. clean fuel company to bolster its green energy drive. The company did not disclose the amount of the investment in Infinium, a California-based startup that engages in the [...]
SEOUL, Oct. 11 (Korea Bizwire) — SK Innovation Co., South Korea’s largest oil refinery, said Tuesday it will invest 5 trillion won (US$3.54 billion) into its flagship Ulsan industrial complex to transform its fossil fuel energy-oriented business to a green energy and material company by 2027. “After building South Korea’s first refinery plant in Ulsan, [...]
SEOUL, Sept. 14 (Korea Bizwire) — SK Group, South Korea’s second-largest conglomerate by assets, said Thursday it will spend 73 trillion won (US$52.4 billion) by 2023 to boost its domestic production facilities for chips, green energy and bio. The energy-to-telecom business group will also spend 25 trillion won on research and development (R&D) over the [...]