SEOUL, Oct. 1 (Korea Bizwire) — SK Inc., the holding firm of South Korean conglomerate SK Group, said Friday it has additionally invested 65 billion won (US$55 million) in Perfect Day, a U.S. alternative milk maker, following 54 billion won of funds last year. SK said it joined the latest round of funding for Perfect [...]
SEOUL, Sept. 29 (Korea Bizwire) — U.S. streaming giant Netflix said Wednesday that its Korean investment over the past five years has led to an economic effect worth 5.6 trillion won (US$4.7 billion) in South Korea’s entertainment-related industry. In an online event titled “Netflix Partner Day,” the company said it has injected 770 billion won [...]
SEOUL, Sept. 28 (Korea Bizwire) — The Bank of Korea (BOK) said Tuesday it will expand its purchase of stocks and bonds related to environmental, social and governance (ESG) concerns, in a move to help transform South Korea to a greener economy. As of June, the BOK had purchased US$7.12 billion worth of ESG stocks [...]
QUEBEC CITY, Quebec, Sept. 23 (Korea Bizwire) — Brilliant Matters is proud to announce the closing of an oversubscribed $3.5M seed round. The round was led by Ecofuel Fund, a specialized and dedicated cleantech fund, together with Investissement Québec, Anges Québec and GSI Creos Corporation. Founded in 2016, the company uses a clean and reliable [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea said Thursday it plans to invest 42.4 billion won (US$35.8 million) through 2023 to develop core technologies for hydrogen-powered trams. The budget will also be spent to find ways to modify hydrogen fuel cells used by Hyundai Motor Co.’s Nexo SUVs and use them in trams, according [...]
NEW YORK, Sept. 21 (Korea Bizwire) — Cytiva, a U.S. producer of vaccine materials, has decided to invest US$52.5 million in South Korea for two years beginning next year, Cheong Wa Dae said Tuesday. The announcement came at a ceremony in New York, attended by President Moon Jae-in, on partnerships between South Korea and the [...]
SEOUL, Sept. 17 (Korea Bizwire) – South Korean battery maker LG Energy Solution Ltd. said Friday it has signed a 350 billion won (US$297.5 million) deal to acquire a 4.8 percent stake in China’s Greatpower Nickel & Cobalt Materials Co. for a stable supply of battery materials. The wholly owned subsidiary of LG Chem Ltd. [...]
SEOUL, Sept. 17 (Korea Bizwire) — KT Corp., a South Korean telecom giant, said Friday it will purchase 175 billion won (US$150 million) worth of stocks in its media unit KT Studio Genie as part of efforts to bolster its growing entertainment business. The telecom operator said it will purchase 8.75 million shares in the [...]
SEOUL, Sept. 9 (Korea Bizwire) — South Korea’s industry ministry said Thursday it plans to spend 95 billion won (US$81.5 million) to develop new solutions to cut the emission of carbon at local factories, in line with the country’s vision to go carbon neutral by 2050. The budget will be allocated to research projects for [...]
ROSEMONT, Ill., Sept. 8 (Korea Bizwire) — Proteintech Group, an original manufacturer of antibodies, nanobodies and recombinant proteins, today announced that it has made a strategic investment in Active Motif, a life science tools company focused on bringing epigenetics into the translational and precision medicine segments. The companies did not disclose any financial details about [...]