SEOUL, Nov. 18 (Korea Bizwire) — Celltrion Inc., a leading pharmaceutical firm in South Korea, said Wednesday that it will build a third plant in the country in response to rising manufacturing demand. The 500 billion-won (US$452 million) plant in the country’s biotech hub of Songdo, west of Seoul, will have a bioreactor capacity of [...]
Paris, France, Nov. 13 (Korea Bizwire) – Jeito Capital (“Jeito”), a rapidly emerging independent investor dedicated to biotech and biopharma, today announced that Sanofi has made a €50 million investment in Jeito Capital. The investment will be deployed by Jeito’s highly experienced team of pharmaceutical and biotech experts in line with its investment criteria to provide [...]
SEOUL, Nov. 10 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, is in talks with Softbank Group Corp. to acquire a U.S.-based robotics company for US$1 billion, news reports said Tuesday, as it increases investments in future mobility solutions. Hyundai Motor is mulling acquiring a controlling stake in Boston Dynamics, and [...]
SEOUL, Oct. 30 (Korea Bizwire) — President Moon Jae-in said Friday the government plans to invest more than 20 trillion won (US$17.7 billion) in electric vehicles and other areas of green mobility by 2025. The president announced the investment plan, part of the administration’s ambitious Korean New Deal initiative, as he traveled to a manufacturing [...]
SEOUL, Oct. 22 (Korea Bizwire) — President Moon Jae-in said Thursday that the government will invest 10 trillion won (US$8.8 billion) into South Korea’s “smart city” project nationwide by 2025, as the country aims to become a global leader in the field under the so-called Korean version New Deal initiative. The government plans to supply [...]
Paris, France, Oct. 21 (Korea Bizwire) – Jeito Capital (“Jeito”), a rapidly emerging independent investor dedicated to biotech and biopharma, today announces that it has become a major investor in SparingVision, a French preclinical stage biotech company focused on gene therapy in ophthalmology. The €44.5 million financing round brought together new investors alongside Jeito including [...]
SEOUL, Oct. 19 (Korea Bizwire) – South Korean fuel cell maker Doosan Fuel Cell Co. said Monday that it will invest 72.4 billion won (US$63.4 million) to build a cutting-edge fuel cell plant. Doosan Fuel Cell, a unit of cash-strapped Doosan Group, aims to churn out solid oxide fuel cells (SOFCs), energy conversion devices generating [...]
SEOUL, Oct. 14 (Korea Bizwire) — South Korea said Wednesday it will invest more than 7 trillion won (US$6.1 billion) over the next two years in research and development for new growth engines in the latest move to secure technology for essential components amid uncertainties over the coronavirus pandemic. The COVID-19 pandemic has disrupted global [...]
SEOUL, Oct. 13 (Korea Bizwire) — Storywiz Co., a webcomic unit of South Korean telecom giant KT Corp., said Tuesday it will spend 10 billion won (US$8.7 million) on content creation, heating up competition in the growing local web fiction market. Storywiz, established in February this year after KT spun off its web fiction business, [...]
SEOUL, Oct. 7 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts company, said Wednesday it will invest US$25 million in a British augmented reality company as it bets on future mobility technologies. Hyundai Mobis made the decision to “preemptively” invest in infotainment technologies, which it expects to become another growth driver together [...]