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 [...]
SEOUL, Aug. 17 (Korea Bizwire) — LG Display Co., a major display panel maker in South Korea, said Tuesday it will invest 3.3 trillion won (US$2.8 billion) to expand its medium-and-small sized OLED display production capacity. The company said the investment, which will be made through March 2024, will be used in OLED facilities in [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea said Friday it plans to invest 186.5 billion won (US$160 million) to develop technologies for sensors which are widely used in sectors ranging from automobiles to mobile devices. The country will allocate the funds to local universities and businesses starting next year through 2028, according to the [...]