SEOUL, Nov. 26 (Korea Bizwire) – In a significant push to expand its footprint in Southeast Asia, Hyundai Motor Company has announced a $479 million (approximately 673 billion won) investment in Malaysia. This strategic move aims to capitalize on the region’s burgeoning automotive market, with production beginning in mid-2024. Hyundai will collaborate with local partner Inokom [...]
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 [...]
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. [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]