SEOUL, April 27 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemical company, said Monday that it will invest about 65 billion won (US$53 million) to boost production of carbon nanotubes. The investment is set to be completed at the Yeosu plant, about 455 kilometers south of Seoul, by March next year, which would [...]
SEOUL, March 5 (Korea Bizwire) — South Korean telecom companies will invest 4 trillion won (US$3.4 billion) in the first half of 2020 as part of their efforts to cope with the fallout from the novel coronavirus outbreak, sources said Thursday. The country’s three mobile operators — SK Telecom, KT Corp., and LG Uplus — [...]
SEOUL, March 3 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemicals company, said Tuesday it has acquired a Turkish television assembly factory in Poland for US$31.4 million to expand its plant for electric vehicle (EV) batteries. LG Chem signed the deal with Turkish electronics and appliance maker Vestel last month, a company official [...]
SEOUL, Jan. 9 (Korea Bizwire) — U.S.-based chemical firm Dupont on Thursday announced its plan to invest US$28 million in South Korea to build a production line for photoresist, which can potentially help Asia’s No. 4 economy reduce its dependence of the key industrial material on Japan amid their trade spat. Under the project, Rohm [...]
SEOUL, Jan. 2 (Korea Bizwire) — South Korea’s Hyundai Motor Group said Thursday it will invest more than 100 trillion won (US$87 billion) in the next five years to increase its presence in the future mobility markets. “We are planning to launch 44 electrified vehicles, including 11 all-electric models, by 2025, as we aim to [...]
SEOUL, Dec. 13 (Korea Bizwire) — Samsung Electronics Co. will invest an additional US$8 billion into its memory chip plant in Xian, China, officials confirmed Thursday, as the South Korean tech giant further expands its presence in the world’s second largest economy. According to Chinese media and Xian’s municipal government, Kang Bong-yong, a Samsung Electronics [...]
SEOUL/ULSAN, Nov. 26 (Korea Bizwire) — South Korean carmaker Hyundai Motor Co. said Tuesday it will build a US$1.55-billion plant in Indonesia by 2021 to tap deeper in the Southeast Asian markets dominated by Japanese rivals. The investment decision comes as Hyundai Motor is working to explore new markets and secure a new growth driver [...]
SEOUL, Nov. 1 (Korea Bizwire) — South Korea’s LG Electronics Inc. said Friday it recently purchased a stake in U.S. laundry startup Washlava and supplied it with washing machines and dryers. LG Electronics, however, didn’t disclose the level of its interest in the Tampa-based company, which operates smartphone-exclusive laundromats, or the amount invested. The electronics [...]
SEOUL, Oct. 31 (Korea Bizwire) — Daelim Industrial Co., a major construction and petrochemical firm in South Korea, announced Thursday it has decided to acquire a synthetic rubber unit of American chemical giant Kraton Corp. for US$530 million. Under the deal, Daelim will get the Cariflex business of Kraton, including its plant in Brazil and [...]
SEOUL, Oct. 30 (Korea Bizwire) — South Korean telecom giant KT Corp. said Wednesday it will invest 300 billion won (US$256.9 million) in the next four years to develop advanced artificial intelligence (AI) technologies in various areas. KT said it will develop AI tech in four areas — language, image, analysis and problem solving — [...]