SEOUL, Oct. 12 (Korea Bizwire) — SK Trading International Co., a subsidiary of South Korean refiner SK Innovation Co., said Wednesday it has invested in a U.S. clean fuel company to bolster its green energy drive. The company did not disclose the amount of the investment in Infinium, a California-based startup that engages in the [...]
SEOUL, Oct. 11 (Korea Bizwire) — SK Innovation Co., South Korea’s largest oil refinery, said Tuesday it will invest 5 trillion won (US$3.54 billion) into its flagship Ulsan industrial complex to transform its fossil fuel energy-oriented business to a green energy and material company by 2027. “After building South Korea’s first refinery plant in Ulsan, [...]
SEOUL, Oct. 11 (Korea Bizwire) — Lotte Chemical Corp. said Tuesday it is acquiring a major stake in a leading South Korean copper foil producer for 2.7 trillion won (US$1.88 billion) as part of efforts to advance into the battery components sector. Lotte Chemical signed a stock purchase agreement to take over a 53.3 percent [...]
SEOUL, Oct. 4 (Korea Bizwire) — Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, said Tuesday it has acquired a U.S. auto auction dealer as it pushes to make inroads into overseas secondhand car markets. Hyundai Glovis said it has taken over a 100 percent stake in Greater Erie Auto Auction (GEAA), a [...]
SEOUL, Oct. 4 (Korea Bizwire) — South Korean internet portal giant Naver Corp. said Tuesday it will take over Poshmark Inc., a U.S. social commerce platform specializing in second-hand apparel trade, for 2.3 trillion won (US$1.6 billion) in a bid to broaden its North American business. According to its filing, Naver has agreed to buy [...]
SEOUL, Sept. 15 (Korea Bizwire) — Air Premia Inc., a South Korean “hybrid” budget carrier, will operate five long-haul routes by the end of next year to compete with bigger rivals as travel demand recovers amid eased COVID-19 virus curbs, its CEO said Thursday. Air Premia will begin services on the Incheon-Los Angeles route from [...]
SEOUL, Sept. 15 (Korea Bizwire) — LG Uplus Corp. aims to expand its non-telecom business portfolio to account for up to 40 percent of its total sales by 2027, as South Korea’s third-largest wireless carrier plans to transform itself into a digital platform service provider from its traditional telecom identity, its CEO said Thursday. At [...]
SEOUL, Sept. 14 (Korea Bizwire) — SK Group, South Korea’s second-largest conglomerate by assets, said Thursday it will spend 73 trillion won (US$52.4 billion) by 2023 to boost its domestic production facilities for chips, green energy and bio. The energy-to-telecom business group will also spend 25 trillion won on research and development (R&D) over the [...]
SEOUL, Sept. 7 (Korea Bizwire) — Hanwha Solutions Corp., a key energy unit of South Korea’s Hanwha Group, said Wednesday it is investing 761.7 billion won (US$549.6 million) to boost production capacity of its domestic solar panel materials as it pushes for an expansion into the renewable energy sector. The announcement came after Hanwha recently [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korean builder SK ecoplant Co. said Thursday it has invested US$50 million in Ascend Elements, a U.S.-based lithium-ion battery recycling and engineered materials company, as part of efforts to gain a stronger foothold in the waste battery market. The investment is a part of Ascend Elements’ Series C [...]