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 [...]
SEOUL, Sept. 8 (Korea Bizwire) — Major South Korean companies are betting big on hydrogen across sectors as they strive to shift from carbon-intensive businesses to a more sustainable model and capture new opportunities in the emerging energy sector. Hydrogen can offer solutions in fields ranging from transport to energy storage as an alternative to [...]
SEOUL, Aug. 31 (Korea Bizwire) — Cryptocurrency investment has surged in popularity among South Koreans from the latter half of last year, and teens were no exception, a lawmaker said Monday, citing data from four major cryptocurrency exchanges. The value of deposits made by teenage investors totaled 4 billion won (US$3.43 million) as of the [...]
SEOUL, Aug. 25 (Korea Bizwire) — Around 80 percent of Samsung Group’s investment plan of 240 trillion won (US$205.5 billion) is expected to be spent on chips, analysts here said Wednesday, amid its push to bolster technology leadership in the semiconductor market. Samsung, South Korea’s largest conglomerate, announced Tuesday it plans to invest 240 trillion [...]
SEOUL, Aug. 24 (Korea Bizwire) — Samsung Group, the country’s top conglomerate, said Tuesday that its mainstay Samsung Electronics Co. and other affiliates plan to invest a combined 240 trillion won (US$205 billion) over the next three years in a move to secure future growth engines and expand technology leadership in the post COVID-19 era. [...]
SEOUL, Aug. 20 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, said Friday it will invest 1.32 trillion won (US$1.1 billion) in two local hydrogen fuel-cell plants by 2025. Hyundai Mobis plans to build a hydrogen fuel-cell stack plant in Incheon, just west of Seoul, and a hydrogen fuel-cell systems assembly [...]
SEOUL, Aug. 20 (Korea Bizwire) — South Korean big companies’ investments expanded nearly 5 percent in the first half of the year thanks mainly to a semiconductor boom, a corporate tracker said Friday. Global tech giant Samsung Electronics Co. and 331 other large firms in Asia’s fourth-largest economy invested a combined 82.8 trillion won (US$70.3 [...]
SEOUL, Aug. 19 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Thursday it will invest 2.6 trillion won (US$2.2 billion) by 2028 to step up its domestic manufacturing capacity for eco-friendly materials. LG Chem said it will build 10 new chemical factories in Seosan, about 140 kilometers southwest of Seoul, to [...]
SEOUL, Aug. 17 (Korea Bizwire) — SK Telecom Co., South Korea’s largest wireless carrier, said Tuesday its non-telecom spinoff will be launched in November as SK Square with the aim of aggressive investments in new tech and semiconductor businesses. The mobile carrier is currently preparing to split into two after deciding to spin off its [...]