SEOUL, Aug. 25 (Korea Bizwire) — South Korean tech giant LG Electronics Inc. said Friday it will invest US$250 million to build a washer factory in the U.S. The construction of the factory in Tennessee is expected to be completed in the first quarter of 2019, with an annual production capacity of 1 million units. [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korean biopharmaceutical firm Samsung Bioepis Co. said Monday that it has reached an agreement with Japan-based drug giant Takeda Pharmaceutical Company Ltd. to jointly develop new original drugs in a bid to expand its business area beyond copies of drugs. Under the partnership, the two will develop novel [...]
SEOUL, Aug. 18 (Korea Bizwire) — Foreign ownership of stocks traded on South Korea’s secondary stock market has hit a new high, data showed Friday, as offshore investors turn to undervalued tech firms there after exiting the main bourse. As of Thursday, offshore investors held 25.98 trillion won (US$22.8 billion) worth of shares traded on [...]
SEOUL, Aug. 16 (Korea Bizwire) — Major South Korean pharmaceutical companies expanded their spending on research and development (R&D) during the first half this year, with Hanmi Pharmaceutical Co. allocating the most, industry data showed Wednesday. According to their semi-annual business reports, 10 out of the 15 drug companies spent more on R&D during the [...]
SEOUL, Aug. 7 (Korea Bizwire) — WeWork, a global shared office space provider, said Monday it will invest a combined US$500 million in South Korea and Southeast Asia as it attempts to expand its presence in the Asian market. Under the expansion plan, the New York-based company has appointed Matt Shampine, currently head of Marketing [...]
SEOUL, Jul. 25 (Korea Bizwire) — SK Holdings Co., the holding firm of South Korean energy and telecoms conglomerate SK Group, said Tuesday that its board of directors decided to buy a stake in a Chinese logistics developer for 372 billion won (US$333 million). In a regulatory filing, SK said it will buy some 262 [...]
SEOUL, Jul. 24 (Korea Bizwire) — Breakwater construction will begin at Ulsan as part of an ongoing move to transform the port city into a Northeast Asia oil trading hub, the maritime ministry said Monday. Some 830 billion won (US$741.73 million) will go into erecting a 3.1-kilometer-long breakwater, scheduled for completion by 2023. It is [...]
SEOUL, Jul. 19 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest carmaker by sales, will start operation of its fifth assembly plant in China next month to better meet growing local demand for small vehicles, the company said Wednesday. Beijing Hyundai Motor Co., a 50:50 joint venture set up by Hyundai Motor and Beijing [...]
SEOUL, Jul. 19 (Korea Bizwire) — South Korea’s national pension fund has raised its holdings of stocks in Samsung Electronics Co. and SK hynix Inc. apparently to capitalize on the global semiconductor industry boom, market data showed Wednesday. The National Pension Fund held 85.4 trillion won (US$75.8 billion) worth of stocks in 100 companies in [...]
SEOUL, Jul. 16 (Korea Bizwire) — The value of South Korea’s overseas investment funds has jumped more than 40 percent over the past year as big-time investors look overseas for high returns despite the recent bull of the domestic stock market, data showed Sunday. According to the data by the Korea Financial Investment Association, the [...]