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 [...]
SEOUL, Jun. 18 (Korea Bizwire) — KT Corp., South Korea’s largest telecom firm, said Tuesday it will invest 500 billion won (US$422 million) by 2023 to develop cloud technologies based on its 5G network to create new business opportunities. KT said it will combine its 5G network and cloud expertise to launch convergence services, including [...]
SEOUL, Jun. 13 (Korea Bizwire) — Hyundai Motor Group said Thursday it has invested in U.S. self-driving car startup Aurora Innovation to enhance its autonomous vehicle technologies. In the partnership, the South Korean auto group will jointly develop autonomous vehicle technologies in order to come up with an optimal self-driving platform for models produced by [...]
SEOUL, Jun. 10 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest carmaker by sales, said Monday it will invest in Israeli technology startup MDGo to develop vehicles that automatically call an ambulance in the case of car accidents. Hyundai Motor’s investment centers on embedding the Israel firm’s advanced technologies in its next-generation vehicles, the [...]
HANOI/SEOUL, Jun. 9 (Korea Bizwire) — SK Group, South Korea’s third-largest conglomerate, said Sunday it will provide US$30 million to support the building of Vietnam’s tech innovation center. SK Group Chairman Chey Tae-won reached a funding agreement with Vietnamese Prime Minister Nguyen Xuan Phuc during his three-day visit to the Southeast Asian nation last week, [...]
SEOUL, Jun. 2 (Korea Bizwire) — SK energy Co., a wholly owned unit of the country’s leading refiner SK Innovation Co., said Sunday it will invest 250 billion won (US$209.8 million) to transform its facilities into environment-friendly ones. SK energy, which supplies gasoline, diesel, and liquefied petroleum gas products to local consumers, plans to gradually [...]
SEOUL, May 16 (Korea Bizwire) — Energy-to-telecom conglomerate SK Group said Thursday it will invest US$ 1 billion in Vietnam’s leading conglomerate in a bid to expand its presence in the Southeast Asian market. SK Group said it has signed a deal to buy a 6.1 percent stake in Vingroup, with the deal also calling [...]
SEOUL, May 14 (Korea Bizwire) — Lotte Group, South Korea’s retail-to-chemicals conglomerate, has been accelerating its move to tap deeper into the United States, the world’s largest economy, with its cumulative investments reaching some US$4 billion in production facilities and other areas, industry sources said Tuesday. In its latest investment, Lotte Chemical Corp., the group’s [...]
SEOUL, May 3 (Korea Bizwire) — Swingvy, a Singapore-based human resource platform company, said Friday it has raised US$7 million from a group of investors led by South Korean tech giant Samsung’s venture capital investment arm. Swingvy said it has raised the investment in a Series A round of funding led by Samsung Venture Investment [...]
SEOUL, Apr. 24 (Korea Bizwire) — Samsung Electronics Co. said Wednesday it will invest 133 trillion won (US$115.7 billion) by 2030 to expand its non-memory and foundry business to take the top spot in the high-tech and lucrative sector. The world’s largest memory chip maker announced measures to develop the semiconductor ecosystem with increased investment [...]