SEOUL, Jan. 14 (Korea Bizwire) — Kia Motors Corp., South Korea’s second-biggest carmaker by sales, said Tuesday it will invest 29 trillion won (US$25 billion) in electric vehicles and business diversification by 2025. Kia Motors made the announcement as it aims to transform itself into a leading electric vehicle manufacturer while reducing the ratio of [...]
SEOUL, Jan. 13 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, will secure 9 trillion won (US$7.8 billion) in the next three years for investment in future vehicle technologies, a company executive has said. In a group interview with South Korean reporters on the sidelines of the Consumer Electronics Show (CES) [...]
NEW YORK, Jan. 9 (Korea Bizwire) — Radiaction (“Radiaction” or the “Company”) and InnovaHealth Partners, LP (“InnovaHealth”) jointly announce today that InnovaHealth has made a growth equity investment in Radiaction and acquired a majority interest in the Company. Jonathan Yifat, Chief Executive Officer of Radiaction, said, “Today’s announcement represents the next stage for our Company. [...]
SEOUL, Jan. 9 (Korea Bizwire) — U.S.-based chemical firm Dupont on Thursday announced its plan to invest US$28 million in South Korea to build a production line for photoresist, which can potentially help Asia’s No. 4 economy reduce its dependence of the key industrial material on Japan amid their trade spat. Under the project, Rohm [...]
SEOUL, Jan. 2 (Korea Bizwire) — South Korea’s Hyundai Motor Group said Thursday it will invest more than 100 trillion won (US$87 billion) in the next five years to increase its presence in the future mobility markets. “We are planning to launch 44 electrified vehicles, including 11 all-electric models, by 2025, as we aim to [...]
SEOUL, Dec. 30 (Korea Bizwire) — Industries including tobacco, beer and sugar that have been monopolizing the market for decades are very stingy with investments such as research and development (R&D), due to lack of pressure from foreign countries to compete due to high concentration in the domestic market. According to the results of the [...]
SEOUL, Dec. 29 (Korea Bizwire) — South Korea’s science ministry said Sunday it will allocate 26.9 billion won (US$23.2 million) in 2020 to further expand the country’s innovative drone capabilities. Of the total, 13 billion won will be used to secure original technologies, with 6.7 billion won to go drones that make use of 5G [...]
SEOUL, Dec. 20 (Korea Bizwire) — Chinese telecommunications behemoth Huawei Technologies Co. on Friday vowed to beef up its business in South Korea by increasing the purchase of parts for its network equipment and smartphones amid continued U.S. sanctions. Karl Song Kai, head of Huawei’s global media and communications, said Huawei also plans to increase [...]
VANCOUVER, British Columbia, Dec. 16 (Korea Bizwire) — General Fusion announced that it has successfully closed USD$65 million of Series E equity financing. The financing was led by Temasek, a global investment company headquartered in Singapore. This USD$65 million of new financing, together with the release of CAD$50 million in additional investment from Canada’s Strategic [...]
SEOUL, Dec. 13 (Korea Bizwire) — Samsung Electronics Co. will invest an additional US$8 billion into its memory chip plant in Xian, China, officials confirmed Thursday, as the South Korean tech giant further expands its presence in the world’s second largest economy. According to Chinese media and Xian’s municipal government, Kang Bong-yong, a Samsung Electronics [...]