SEOUL, July 1 (Korea Bizwire) — A digital transformation is taking place in South Korea’s convenience store industry, with local retailers racing to open stores installed with the latest retail technologies. GS Retail, the operator of local convenience store chain GS25, opened its first smart store, called the GS25 DX LAB, in southern Seoul on [...]
SEOUL, March 15 (Korea Bizwire) — SK Geocentric Co., a chemical materials unit of South Korean conglomerate SK Group, said Tuesday it has acquired a stake worth US$55 million in a U.S. plastic waste recycling startup, in a step to bolster its green business. It acquired the stake in PureCycle Technologies Inc., a Florida-based plastic [...]
WASHINGTON/SEOUL, May 21 (Korea Bizwire) — Four major South Korean companies, including Samsung and SK, on Friday announced plans to invest US$39.4 billion in the United States, ahead of President Moon Jae-in’s summit with U.S. President Joe Biden in Washington. During a business roundtable attended by Moon, Samsung Electronics announced plans to invest $17 billion [...]
SEOUL, Jan. 21 (Korea Bizwire) — SK Innovation Co., a South Korean refinery-to-battery company, said Thursday it has invested in a Chinese battery swap system provider to step up its battery business in the world’s largest market. SK Innovation said it acquired a 13.3 percent stake in Blue Park Smart Energy Technology Co. (BPSE), a [...]
SEOUL, July 2 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, said Thursday it will invest US$20 million in two U.S. tech funds to foster future mobility startups. Hyundai Mobis will invest in ACVC Partners and MOTUS Ventures as it seeks to preemptively secure future mobility technologies in the fields of [...]
SEOUL, June 29 (Korea Bizwire) — SK Innovation Co., South Korea’s leading refiner and chemical company, will invest another US$940 million in expanding its electric vehicle (EV) battery plant in the United States, a U.S. official has said. Georgia Gov. Brian P. Kemp said the new project is in addition to SK Innovation’s $1.67 billion [...]
SEOUL, June 18 (Korea Bizwire) — Volvo Car Korea said Thursday it will invest 150 billion won (US$124 million) over the next three years to expand its after-sales service centers to better serve customers. Volvo Car Korea plans to nearly double the number of service centers to 52 and that of repair centers to 312, [...]
SEOUL, June 12 (Korea Bizwire) — Kia Motors Corp., South Korea’s second-largest automaker, said on Friday that it will invest 70 million euros (US$79 million) to expand its engine production facility in Slovakia. The affiliate of Hyundai Motor Group said it plans to complete the expansion of the engine production line at its plant in [...]
SEOUL, June 1 (Korea Bizwire) — South Korean chemicals maker SKC Co. said Monday that it will invest 120 billion won (US$98 million) to build a new plant for its copper foil subsidiary in an effort to help cement the latter’s market position. The company will break ground on SK Nexilis’ sixth plant in the [...]
SEOUL, June 1 (Korea Bizwire) — Samsung Electronics Co., the world’s largest memory chip maker, said Monday it will add a NAND flash production line in South Korea to further expand its presence in the sector. The company said it plans to start mass-production of the new line at its second chip fab, named P2, [...]