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 — [...]
SEOUL, Oct. 15 (Korea Bizwire) — SK Global Chemical Co., a chemical affiliate of South Korea’s energy giant SK Innovation Co., said Tuesday it will acquire French chemical firm Arkema S.A.’s functional polyolefins business for 335 million euros (US$369 million) in the latest move to boost its packaging business. SK Global Chemical said the acquisition [...]
SEOUL, Oct. 10 (Korea Bizwire) — Samsung Display Co., a major display panel maker here, said Thursday it will invest 13.1 trillion won (US$10.9 billion) by 2025, to upgrade its liquid crystal display (LCD) production facilities and produce more advanced displays amid a slump and increased competition. Panel makers here, including its large local rival [...]
SEOUL, Sept. 24 (Korea Bizwire) — Samsung Group is planning to announce a massive investment plan next month to upgrade its display panel production facilities in South Korea, industry sources said Tuesday, as the nation’s largest conglomerate seeks to enhance profitability in the large display business with its latest technologies. Samsung is expected to unveil [...]
SEOUL, Sept. 9 (Korea Bizwire) — Hyundai Motor Group, South Korea’s biggest automotive group, said Monday it has invested in Europe’s largest fast electric vehicle (EV) charging service provider to further push up sales of its battery-powered cars in the continent. The group, which owns Hyundai Motor Co. and Kia Motors Corp., signed a deal [...]
SEOUL, Sept. 3 (Korea Bizwire) — Nongshim Co., South Korea’s top instant noodles maker, announced a plan on Tuesday to spend US$200 million in constructing a new factory in the United States as it aims to meet growing demand there. Its second factory, to be built in Corona, California, will manufacture instant noodle products ranging [...]
SEOUL, Jul. 23 (Korea Bizwire) — LG Display Co. said Tuesday it will invest 3 trillion won (US$2.6 billion) in an organic light-emitting diode (OLED) facility in South Korea to expand its production capacity for premium panels. The Korean panel maker has spent 4.6 trillion won in the OLED factory in Paju, north of Seoul, [...]
SEOUL, Jul. 3 (Korea Bizwire) — Hyundai Oilbank Co., a refining unit of Hyundai Heavy Industries Group, said Wednesday it will invest 260 billion won (US$221 million) to beef up its petrochemicals production. Hyundai Oilbank said its affiliate Hyundai Chemical Co. will chip in 100 billion won to expand its production of mixed xylene, a [...]