SEOUL, Sept. 14 (Korea Bizwire) — Concerns are rising over investment in non-fungible tokens (NFTs), which have been gaining attention since last year, alerting investors that high fluctuation in prices and commission rates may result in a less-than-expected profit, a report said Tuesday. The Korea Institute of Finance reported that the non-fungible features of NFTs [...]
SEOUL, Sept. 14 (Korea Bizwire) — SK Group, South Korea’s second-largest conglomerate by assets, said Thursday it will spend 73 trillion won (US$52.4 billion) by 2023 to boost its domestic production facilities for chips, green energy and bio. The energy-to-telecom business group will also spend 25 trillion won on research and development (R&D) over the [...]
SEOUL, Sept. 9 (Korea Bizwire) — Six affiliates of the state-run Korea Electric Power Corp. (KEPCO) plan to cut their investment in renewable energy over the next five years as they are under pressure to improve their worsening financial health, according to a report on Friday. The six affiliates, including Korea Energy and Korea East-West [...]
SEOUL, Sept. 7 (Korea Bizwire) — Hanwha Solutions Corp., a key energy unit of South Korea’s Hanwha Group, said Wednesday it is investing 761.7 billion won (US$549.6 million) to boost production capacity of its domestic solar panel materials as it pushes for an expansion into the renewable energy sector. The announcement came after Hanwha recently [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korean builder SK ecoplant Co. said Thursday it has invested US$50 million in Ascend Elements, a U.S.-based lithium-ion battery recycling and engineered materials company, as part of efforts to gain a stronger foothold in the waste battery market. The investment is a part of Ascend Elements’ Series C [...]
SEOUL, Aug. 30 (Korea Bizwire) — South Korea’s pharmaceutical and biomedical companies are doubling down on nanomedicine-related investment and research efforts. The Life Science Fund, created jointly by Samsung C&T Corp. and Samsung Biologics Co., decided to invest 19 billion won (US$14 million) in U.S.-based biotech firm Senda Biosciences Inc. last week. Senda possesses the [...]
SEOUL, Aug. 29 (Korea Bizwire) — Hankook Tire & Technology Co., the world’s sixth-biggest tiremaker by sales, said Monday it will invest 2.1 trillion won (US$1.5 billion) to expand its existing U.S. tire manufacturing plant by early 2026. Hankook Tire currently produces 5.5 million tires a year for passenger vehicles and light-duty trucks in the [...]
SEOUL, Aug. 25 (Korea Bizwire) — Hyundai Motor Group said Wednesday it was investing in local startup BOS Semiconductors as part of efforts to create synergy in the future automotive semiconductor area. BOS Semiconductors, founded this year, is a fabless company specializing in the design and development of System-on-a-Chip (SoC) optimized for automotive software and [...]
SEOUL, Aug. 23 (Korea Bizwire) — Mobility service provider T Map Mobility said Monday it was the beneficiary of an investment of 200 billion won (US$149 million) from KB Kookmin Bank. With this investment, the retail lender emerged as T Map Mobility’s fourth-largest shareholder with an 8.3 percent stake. T Map Mobility said this is [...]
SEOUL, Aug. 19 (Korea Bizwire) — Naver Corp. and Kakao Corp., the two major South Korean tech companies, drastically cut their outside investments in the first half of this year, in stark contrast to last year when they invested heavily in the acquisition of startups. Naver invested a total of 44.6 billion won (US$33.6 million) [...]