SEOUL, July 14 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Wednesday it will invest 10 trillion won (US$8.7 billion) by 2025 to expand its battery material, renewable and bio businesses. The chemical unit under LG Group said it will speed up its transition to an eco-friendly business portfolio by expanding [...]
SEOUL, July 13 (Korea Bizwire) — Lotte Chemical Co., a major South Korean petrochemical company, said Tuesday it will invest 4.4 trillion won (US$3.8 billion) in the hydrogen business by 2030 to cut its carbon emissions and foster the new growth driver. The petrochemical unit of Lotte Group said it aims to generate 3 trillion [...]
SEOUL, July 9 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. is considering investment in the United States to meet growing demand for electric vehicles, industry sources said Friday, stoking speculation over potential partnership with major automakers. The battery making arm of Samsung Electronics Co. has been reviewing various options to build a [...]
SEJONG, July 8 (Korea Bizwire) – South Korea said Thursday it will increase investment to develop the next-generation battery technology, expand its manufacturing base and secure supply chains as it seeks to foster the rechargeable battery industry as the next growth driver. The Ministry of Trade, Industry and Energy unveiled the so-called K-battery blueprint to [...]
SEOUL, July 2 (Korea Bizwire) — LG Corp., the holding company of South Korea’s fourth-largest conglomerate LG Group, on Friday said it will invest 100 billion won (US$87.9 million) in Kakao Mobility Corp., the country’s leading taxi-hailing firm, for future growth. LG said the investment will allow its affiliates, including LG Energy Solution Ltd. and [...]
SEOUL, July 1 (Korea Bizwire) — SK Inc., the holding firm of South Korean conglomerate SK Group, said Thursday it has struck a 140 billion-won (US$123.5 million) deal to buy a 10 percent stake in TBM, a Japanese maker of eco-friendly materials. SK’s Japanese investment arm made the investment in the Tokyo-based startup known for [...]
SEOUL, July 1 (Korea Bizwire) — SK Innovation Co. said Thursday it will invest 30 trillion won (US$26.5 billion) over the next five years to transition from a carbon-intensive model to green business and is considering splitting its battery business as a way to raise funds needed to further foster the new growth driver. The [...]
SEOUL, June 28 (Korea Bizwire) — Krafton Inc., a South Korean gaming giant behind the global smash hit “PlayerUnknown’s Battlegrounds” (PUBG), said Monday that it has invested US$9 million in India-based streaming platform Loco. The funding includes other investors, such as Lumikai, India’s first gaming and interactive media fund, as well as Hashed, Hiro Capital, [...]
SEOUL, June 24 (Korea Bizwire) — South Korea plans to invest 50 billion won (US$44 million) in a fund specializing in animation investment as part of efforts to boost the industry, the culture ministry said Thursday. The investment is part of a five-year plan aimed at increasing the local animation industry’s revenue to 1 trillion [...]
SEOUL, June 23 (Korea Bizwire) — South Korea said Wednesday it will invest 220 billion won (US$195 million) to develop and standardize sixth generation (6G) network technology by 2025 and conduct joint research with the United States to strengthen competitiveness in the global race for the future technology. The network technology, which is expected to [...]