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SK Innovation’s Trading Unit Invests in U.S. Clean Fuel Company

SK Innovation’s Trading Unit Invests in U.S. Clean Fuel Company

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 [...]

SK Innovation to Invest 5 tln Won for Net-zero Project at Its Flagship Ulsan Complex

SK Innovation to Invest 5 tln Won for Net-zero Project at Its Flagship Ulsan Complex

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, [...]

SK to Spend 73 tln Won by 2023 to Boost Domestic Production Facilities

SK to Spend 73 tln Won by 2023 to Boost Domestic Production Facilities

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 [...]

Hanwha Solutions to Invest 762 bln Won for Solar Panel Materials Biz

Hanwha Solutions to Invest 762 bln Won for Solar Panel Materials Biz

SEOUL, Sept. 7 (Korea Bizwire) — Hanwha Solutions Corp., a key energy unit of South Korea’s Hanwha Group, said Wednesday it is investing 761.7 billion won (US$549.6 million) to boost production capacity of its domestic solar panel materials as it pushes for an expansion into the renewable energy sector. The announcement came after Hanwha recently [...]

SK ecoplant Invests $50 mln in U.S. Battery Recycling Firm

SK ecoplant Invests $50 mln in U.S. Battery Recycling Firm

SEOUL, Sept. 2 (Korea Bizwire) — South Korean builder SK ecoplant Co. said Thursday it has invested US$50 million in Ascend Elements, a U.S.-based lithium-ion battery recycling and engineered materials company, as part of efforts to gain a stronger foothold in the waste battery market. The investment is a part of Ascend Elements’ Series C [...]

Hankook Tire to Invest 2.1 tln Won for U.S. Plant Expansion

Hankook Tire to Invest 2.1 tln Won for U.S. Plant Expansion

SEOUL, Aug. 29 (Korea Bizwire) — Hankook Tire & Technology Co., the world’s sixth-biggest tiremaker by sales, said Monday it will invest 2.1 trillion won (US$1.5 billion) to expand its existing U.S. tire manufacturing plant by early 2026. Hankook Tire currently produces 5.5 million tires a year for passenger vehicles and light-duty trucks in the [...]

LG-owned ZKW to Invest US$100 mln to Expand Mexican Plant

LG-owned ZKW to Invest US$100 mln to Expand Mexican Plant

SEOUL, July 29 (Korea Bizwire) — Austrian automotive light maker ZKW Group, a subsidiary of South Koran tech giant LG Electronics Inc., said Thursday that it will invest US$102 million to expand its Silao plant in Mexico. The plant has been engaged in manufacturing premium lighting systems since 2016. With this investment, the plant’s floor [...]

POSCO, Krakatau to Invest US$3.5 bln in Capacity Expansion in Indonesia

POSCO, Krakatau to Invest US$3.5 bln in Capacity Expansion in Indonesia

SEOUL, July 28 (Korea Bizwire) — POSCO and Indonesia’s state-run steelmaker Krakatau agreed on Thursday to spend US$3.5 billion over the next five years on building a second furnace in the Southeast Asian country to meeting growing demand. POSCO and Krakatau already run PT.KRAKATAU-POSCO, their joint venture located in the major industrial city of Cilegon [...]

S. Korea’s SK Group Chief Unveils Plan to Invest US$22 bln in Meeting with Biden

S. Korea’s SK Group Chief Unveils Plan to Invest US$22 bln in Meeting with Biden

WASHINGTON/SEOUL, July 27 (Korea Bizwire) — Chey Tae-won, chairman of South Korea’s SK Group, on Tuesday unveiled an ambitious plan to invest an additional US$22 billion in the United States in a rare meeting with U.S. President Joe Biden. Biden welcomed the announcement, calling it one of the most “significant investments” ever seen in the [...]