SEJONG, Jan. 29 (Korea Bizwire) — South Korea’s industry ministry said Tuesday it plans to provide more incentives to overseas companies operating in the country and induce them to carry out more foreign direct investment (FDI). The Ministry of Industry, Trade, and Energy, which hosted meetings with officials from foreign companies here, said it is [...]
SEOUL, Jan. 24 (Korea Bizwire) — The total amount of investment in startups reached a record high last year amid hopes of lucrative returns and policy backup, government data showed Thursday. A total of 3.43 trillion won (US$3.04 billion) was invested in startups last year, up 43.9 percent from the previous record high of 2.38 [...]
SEOUL, Jan. 10 (Korea Bizwire) — More than 18.8 trillion won (US$16.8 billion) will be invested over the next five years to create a safer and cleaner school environment in South Korea. Among the projects, 500 billion won (US$446.9 million) will be set aside for renovating traditional classrooms with desks and chairs into next-generation playgrounds. [...]
SEOUL, Dec. 20 (Korea Bizwire) — Incheon International Airport Corp. said Thursday it will invest 4.2 trillion won (US$3.7 billion) to build a fourth runway and expand facilities by 2023. The airport began operations in 2001 and opened its second terminal in January to meet rapid air passenger growth. It currently handles 72 million travelers [...]
Boston, MA, Dec. 11 (Korea Bizwire) — Algo Capital, a blockchain-focused venture capital group, has announced the launch of a $100 million USD fund to invest and manage significant capital in emerging disruptors building on the Algorand decentralized platform over the course of the next decade. The Algorand protocol was designed by MIT professor, cryptography [...]
VICTOR, N.Y., Dec. 6 (Korea Bizwire) — Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that Constellation Brands Ventures (CBV), the company’s corporate venture capital group, intends to invest $100 million in female-founded or female-led businesses in the beverage alcohol space and adjacent categories by 2028 through a new [...]
SEOUL, Dec. 4 (Korea Bizwire) — South Korea’s retail giant Lotte Group is considering expanding investment in Vietnam, industry sources said Tuesday. According to the observers, Lotte Group Chairman Shin Dong-bin met Hanoi’s Chairman of the People’s Committee Nguyen Duc Chung on Tuesday and insisted that the conglomerate is open to expanding investment in the [...]
SEOUL, Nov. 30 (Korea Bizwire) — Chey Tae-won, the chairman of SK Group, has revealed that the company is willing to boost investment in a new electric car battery plant in the U.S. state of Georgia. Construction of the plant is expected to kick off next year. Chey visited SK’s Washington D.C. office on November [...]
SEOUL, Nov. 26 (Korea Bizwire) — SK Innovation Co., South Korea’s top energy-chemical business, said Monday that it will invest 1.14 trillion won (US$1.01 billion) to build an electric vehicle (EV) battery plant in the United States. The company said it has decided to construct the 9.8 gigawatt-hour capacity battery plant in the city of [...]
SEOUL, Nov. 23 (Korea Bizwire) — Japanese software giant Softbank Group Corp.’s chairman, Masayoshi Son, a third-generation Korean-Japanese most widely known by his Korean name “Son Jeong-ui” here, has reportedly decided to invest US$2 billion in Coupang, leaving experts seeking an explanation as to Son’s great interest in the Korean e-commerce website. Meanwhile, other competing [...]