SEOUL, Jan. 13 (Korea Bizwire) — Finance Minister Hong Nam-ki said Thursday the government plans to spend 6.3 trillion won (US$5.3 billion) to support corporate facility investment in vaccine development by 2024. The move is aimed at nurturing the vaccine industry as a key sector at a similar level to the semiconductor industry as South [...]
SEOUL, Jan. 9 (Korea Bizwire) — SK Inc., the holding company of South Korea’s No. 3 conglomerate SK Group, said Sunday that it has invested US$350 million in the Center for Breakthrough Medicines (CBM), becoming the second-largest stakeholder of the U.S. gene therapy company. SK said the investment deal with the Philadelphia-based contract development manufacturing [...]
SEOUL, Jan. 7 (Korea Bizwire) — Lotte Chemical Corp., the petrochemical unit of South Korean conglomerate Lotte Group, said Friday it is spending US$3.9 billion over the next three years to build a petrochemical complex in Indonesia. Lotte Chemical signed a preliminary deal with Indonesia’s Ministry of Investment on the Line project aimed at constructing [...]
SEOUL, Jan. 5 (Korea Bizwire) — A substantial number of South Korean business executives intend to increase their stock investment amid expectations that inflation will continue to remain high, a survey showed Tuesday. According to a survey conducted by Samsung Securities Co. of executives from 924 local businesses, 21.3 percent of the respondents picked inflation [...]
SEOUL, Dec. 31 (Korea Bizwire) — As the value of parking lots is growing thanks to the introduction of state-of-the-art technology, large companies and IT startups are making a string of investments in companies involved with parking services. SK E&S Co., the energy unit of South Korean conglomerate SK Group, acquired a 47 percent stake [...]
SEOUL, Dec. 21 (Korea Bizwire) — Hanwha Solutions Corp., the chemical and energy unit of South Korea’s Hanwha Group, said Tuesday it is spending 338 billion won (US$283.3 million) to boost its production of caustic soda, a chemical material widely used in the process of making rechargeable batteries. The investment in its Yeosu factory on [...]
SEOUL, Dec. 21 (Korea Bizwire) — South Korea plans to spend 2.4 trillion won (US$2 billion) next year to help double the accumulated sales of hydrogen and electric cars, the finance minister said Tuesday, in the latest move to reduce greenhouse gas emissions. Finance Minister Hong Nam-ki said the government aims to raise the accumulated [...]
SEOUL, Dec. 20 (Korea Bizwire) — Krafton Inc., the South Korean gaming giant behind the global smash hit “PlayerUnknown’s Battlegrounds” (PUBG), said Monday that it has invested US$5 million in the Indian dating app FRND. The investment into FRND is part of a Series A round of funding worth $6.5 million that includes other investors, [...]
SEOUL, Dec. 17 (Korea Bizwire) — Lotte Chemical Corp., a petrochemical unit of South Korean conglomerate Lotte Group, said Friday it will spend 250 billion won (US$211.4 million) to expand its domestic production line of ethylene oxide adduct (EOA), an advanced material used in concrete. The expansion of the production line in Daesan, a county [...]
SEOUL, Dec. 17 (Korea Bizwire) — Kakao Brain, the artificial intelligence (AI) research subsidiary of South Korean internet giant Kakao Corp., is making inroads into the global market for AI in drug discovery. The company said Thursday that it had invested 5 billion won (US$4.21 million) in AI-based drug design platform startup Galux and established [...]