SEOUL, May 26 (Korea Bizwire) — GS Group, South Korea’s eighth-largest conglomerate by assets, said Thursday it will spend 21 trillion won (US$16.5 billion) over five years to boost its clean energy businesses, such as small-sized nuclear reactors and hydrogen. The energy-to-retail business group made the announcement as it joined a handful of other major [...]
SEOUL, May 26 (Korea Bizwire) — LG Group said Thursday it plans to invest 106 trillion won (US$83.7 billion) in electric vehicle batteries and other key business areas by 2026 in the latest massive expenditure plan by a South Korean conglomerate. South Korea’s fourth-largest conglomerate said it has set aside 48 trillion won out of [...]
SEOUL, May 26 (Korea Bizwire) — SK Group, South Korea’s second-largest conglomerate by assets, said Thursday it will invest 247 trillion won (US$194.9 billion) over the next five years to shore up its chip, EV battery and bio businesses. The energy-to-telecom business group unveiled the blueprint through 2026, pledging to spend 179 trillion won of [...]
SEOUL, May 24 (Korea Bizwire) — South Korean energy-to-defense conglomerate Hanwha Group said Tuesday it will invest 37.6 trillion won (US$29.6 billion) over the next five years in a move to strengthen its future growth engines. As part of the plan, Hanwha set aside 20 trillion won to boost its competitiveness in a range of [...]
SEOUL, May 24 (Korea Bizwire) — South Korean retail giant Lotte Group said Tuesday it will invest 37 trillion won (US$29.2 billion) over the next five years to expand its businesses to bio and mobility, and further bolster its key chemicals and retail sectors. Lotte plans to spend 41 percent of the earmarked investment in [...]
SEOUL, May 24 (Korea Bizwire) — South Korea’s Hyundai Motor Group said Tuesday it will invest 63 trillion won (US$49.8 billion) in its domestic businesses by 2025 in the latest move to become a future mobility solutions provider. The group’s three major affiliates — Hyundai Motor Co., Kia Corp. and Hyundai Mobis Co. –will make [...]
SEOUL, May 24 (Korea Bizwire) — Samsung Electronics Co. said Tuesday it will invest 450 trillion won (US$355 billion) in semiconductor and biopharmaceuticals for the next five years, as South Korea’s largest company seeks to further expand its business in future growth areas. The company said in a press release it will spend 360 trillion [...]
SEOUL, May 24 (Korea Bizwire) — South Korea’s battery makers are aggressively expanding on research and development and facility investments despite a cost burden arising from a surge in the prices of raw materials. According to LG Energy Solution Ltd. (LGES)’s quarterly report, its cathode material purchase price averaged US$34 per kilogram in the first [...]
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 [...]