SEOUL, Jan. 12 (Korea Bizwire) — LG Electronics Inc. said Friday that it has acquired a 10.12 percent stake in Robotis, a local robot maker, in the latest move to build its presence in the automation business. The South Korean consumer tech giant purchased about 9 billion won (US$8.4 million) worth of Robotis stock, after [...]
SEOUL, Jan. 3 (Korea Bizwire) — South Korean car-sharing startup SoCar said Wednesday it will launch its business in Malaysia this month in its first overseas expansion. SoCar, a leading player in the country’s car-sharing industry, is planning to establish 120 zones with 240 automobiles in the Southeast Asian country, it said. Members who sign [...]
SEOUL, Dec. 27 (Korea Bizwire) — The head of a major Canadian investment bank will visit Seoul next month to discuss with South Korean businesspeople and government officials investment opportunities in South Korea and abroad, an official of the bank said Wednesday. “Chairman Bharti and Chairman Rogers will visit Seoul next month to meet with [...]
SEOUL, Dec. 3 (Korea Bizwire) — South Korean hotel chains are targeting Southeast Asian countries to bypass tough competition at home and take advantage of the region’s fast-growing economy, industry watchers said Sunday. Industry watchers said Southeast Asia is an attractive market for local hotel chains as South Koreans also frequently visit the region for [...]
SEOUL, Dec. 3 (Korea Bizwire) — South Korea’s logistics firm CJ Logistics Corp. said Sunday it plans to tap deeper into the Indian market through CJ Darcl acquired earlier this year. The logistics unit of South Korean food and entertainment conglomerate CJ Group signed a deal to buy a 50 percent stake in Indian firm [...]
SEOUL, Dec. 1 (Korea Bizwire) — South Korean retail giant Lotte Group said Friday that it has purchased a hotel and farm in Russia as it seeks to tap deeper into the overseas markets. Hotel Lotte, the lodging and accommodation arm of South Korea’s fifth-largest conglomerate with sprawling businesses in food, retail and construction, bought [...]
SEOUL, Nov. 30 (Korea Bizwire) — SK Innovation Co. said Thursday it has decided to invest more than 1 trillion won (US$925 million) to boost electric vehicle battery production capacity to meet growing demand. The South Korean EV battery maker said it is set to break ground on a 840 million-won plant in Hungary in [...]
SEOUL, Oct. 25 (Korea Bizwire) — Hyundai Motor Group said Wednesday it will invest US$5 million in a U.S. vehicle research and development center, a move aimed at helping it develop next-generation automotive technologies. The South Korean automaking conglomerate has made the investment decision to seek cooperation in next-generation car technologies and test the technologies [...]
SEOUL, Aug. 28 (Korea Bizwire) — CJ Cheiljedang Corp., South Korea’s leading maker of processed foods, said Monday it has completed the acquisition of a Brazilian company to expand its foothold in the vegetable protein business. Earlier in June, the Korean firm announced its plan to buy Selecta, a Brazilian company that manufactures soy protein [...]
SEOUL, Aug. 25 (Korea Bizwire) — The amount of crowdfunding in South Korea shot up nearly 29 percent this year, data showed Friday, showing the platform growing as an effective financing option for startups. According to the data by the Korea Securities Depository, 106 companies raised a combined 14.2 billion won (US$12.6 million) from 5,826 [...]