SEOUL, Jun. 11 (Korea Bizwire) — Minor shareholders of Samsung C&T are siding with Elliott Associates as they agree with the hedge fund’s opposition to a merger proposal between Samsung C&T and Cheil Industries. Over the past two days, minor shareholders have gathered individual consent to give up their voting rights to 670,000 shares so [...]
SEOUL, Jun. 11 (Korea Bizwire) — Chinese solar power company CNPV signed an agreement to develop 300 billion won (US$ 270 million) plant facilities for solar cell and module production in Saemangeum, on June 10 at an investment briefing in Yeouido. CNPV’s ‘Greenfield’ investment is the largest investment in Korea from a Chinese company. According [...]
SEOUL, May 11 (Korea Bizwire) — South Korea’s sovereign wealth fund said Monday it has logged a cumulative US$14.7 billion in investment profit as of the end of last year following its establishment in 2005. Its overall return on investment reached 10 percent last year, while its annual return on investment in the past five [...]
SEJONG, May 6 (Korea Bizwire) — South Korea will further remove unnecessary and excessive regulations concerning foreign direct investment (FDI) as part of efforts to boost foreign investment and the local economy, the government said Wednesday. Under its latest measures, approved at a Seoul meeting of economy-related ministers, the government will work to remove or [...]
SEJONG, Apr. 30 (Korea Bizwire) — South Korea will work to develop and improve new products using nanotechnology, such as wearable devices, as part of efforts to take global leadership in a market that is expected to reach US$3 trillion in 2020, the government said Thursday. Nanotechnology refers to the technology of dividing any material [...]
SEOUL, April 8 (Korea Bizwire) – To facilitate foreign investment in its Saemangeum project, the Korean government plans to ease related regulations concerning employment and usage of the land. On April 7, the Ministry of Land, Infrastructure and Transport and the Saemangeum Development Agency announced that a revised bill containing these changes had been approved. The [...]
SEOUL, Mar. 16 (Korea Bizwire) — Lotte Group, South Korea’s fifth-largest family-controlled conglomerate, will play a key role in creating a fund worth 40 billion won (US$35 million) to help develop the country’s film industry, the presidential office said Monday. Lotte will account for half of the proposed fund while Busan Bank and the Busan [...]
SEOUL, March 14 (Korea Bizwire) – Cheil Industries Inc., the de facto holding company of South Korea’s top conglomerate, Samsung Group, decided Friday to make an investment of more than 400 billion won (US$356.2 million) this year instead of paying out a dividend. The decision came during the shareholders meeting earlier in the day, which [...]
SEOUL, Mar. 10 (Korea Bizwire) — Local private equity funds (PEFs) saw their combined assets under management soar more than 100-fold in the past 10 years as they have successfully attracted investors seeking higher investment returns, the financial watchdog said Tuesday. A total of 51.2 trillion won (US$45.9 billion) in assets were under management by [...]
Seoul, Mar. 4 (Korea Bizwire) — The Investment Corporation of Dubai (ICD) is talking with the city of Incheon to join a 3.6 billion dollar business town project called ‘Future City’ in Incheon’s Gumdan district. Incheon Mayor Yoo Jeong-bok accepted a letter from Khalifa Al Daboos, Deputy CEO of the IDC, on March 3 in Dubai. Gumdan Future City will [...]