SEOUL, May 22 (Korea Bizwire) — South Korea’s Hyundai Motor Group said Sunday it will invest an additional US$5 billion in the United States for robotics and autonomous driving software development, just a day after announcing a similar size investment to build an electric vehicle plant in the U.S. Hyundai Motor Group Chairman Euisun Chung [...]
SEOUL, May 20 (Korea Bizwire) — Scanline VFX, a subsidiary of Netflix, will invest US$100 million in South Korea over the next six years to build special visual effects facilities in a move that will help turn the country into an Asian hub for high-tech content creation, Seoul’s industry ministry said Friday. Stephan Trojansky, the [...]
SEOUL, May 19 (Korea Bizwire) — Lotte Chemical Corp. said Thursday it will spend a total of 10 trillion won (US$7.85 billion) by 2030 to boost its hydrogen and battery businesses as it ramps up the push for a green energy transition. The announcement follows a broader plan unveiled in March, in which it rolled [...]
Ecotone, a pioneer in organic and plant-based alternatives in France and Europe, has announced a €20 million investment in its plant-based beverage production site located in Badia Polesine, Northern Italy. The major investment has enabled the creation of a new production line, now in operation, making the factory one of the largest plant-based drinks producers in Europe. A plant-based beverage factory 4.0 Lyon, May 18 (Korea Bizwire) — Ecotone’s [...]
SEOUL, May 10 (Korea Bizwire) — Renault Korea Motors said Tuesday an affiliate of China’s Geely Holding Group will invest in the company as part of their parent firms’ agreement signed early this year to develop an environment friendly vehicle. Geely Automobile Holdings, China’s largest privately-owned automotive group, will acquire a 34.02 percent stake in [...]
SEOUL, April 15 (Korea Bizwire) — In tandem with the government’s pursuit of carbon-neutral policies and the business community’s embracing of the environment, social and governance (ESG) management trend, investment is flooding into startups in the ESG sectors. Domestic startups attracted 11.7 trillion won (US$9.51 billion) in investment last year, more than tripling from a [...]
SEOUL, April 7 (Korea Bizwire) — Kakao Mobility Corp., South Korea’s leading taxi-hailing firm, said Thursday that it will invest 50 billion won (US$41 million) to support its business partners to spearhead shared growth. The investment is part of a 300 billion-won fund created by its parent firm, internet giant Kakao Corp., to support small [...]
SEOUL, April 6 (Korea Bizwire) — Kakao Corp., the operator of South Korea’s top mobile messenger KakaoTalk, said Wednesday it will spend 300 billion won (US$246 million) over the next five years to support small business partners. The project, as part of its long-term strategy named Beyond Korea, is aimed at assisting business owners so [...]
SEOUL, March 30 (Korea Bizwire) — SK Lubricants Co., a unit under South Korean conglomerate SK Group, said Wednesday it has purchased a stake worth US$25 million in a U.S. immersion cooling system provider as part of its push for green business. The investment in Green Revolution Cooling (GRC), a Texas-based company, will help the [...]
SEOUL, March 25 (Korea Bizwire) — South Korea plans to invest more than 20 trillion won (US$16.4 billion) in data, network and artificial intelligence (AI) sectors over the next three years in a bid to help nurture future-oriented industries, the finance minister said Friday. Along with fiscal spending, the government plans to provide support for [...]