SEOUL, Aug. 12 (Korea Bizwire) — Hanwha Systems Co., the defense and ICT unit of Hanwha Group, said Thursday it will invest US$300 million in London-based satellite communications company OneWeb to join the growing space development race in the private sector. Hanwha will acquire an 8.8 percent stake in the company through the investment, which [...]
SEOUL, Aug. 10 (Korea Bizwire) — South Korean technology giant Naver Corp. made a series of investments in four local startups this month as part of efforts to strengthen its online shopping business. Early this month, Naver invested 10 billion won (US$8.71 million) in online meat distribution startup Jeongyookgak. This investment cleared the way for [...]
SEOUL, Aug. 10 (Korea Bizwire) — South Koreans’ interest in money-making strategies and health food rather than travel increased sharply after the outbreak of the COVID-19 pandemic, a survey showed Monday. According to a survey conducted by a travel platform operator Yanolja of 1,344 customers in their 20s to 40s, the share of the respondents [...]
SEOUL, Aug. 9 (Korea Bizwire) — The energy and telecom conglomerate SK said its investment arm, SK South East Asia, has invested US$60 million in BigPay, Malaysia’ leading fintech firm. The subsidiary of Malaysian low-cost carrier Air Asia Group offers a wide range of payment and remittance services in Malaysia and Singapore. In particular, itis [...]
SEOUL, July 30 (Korea Bizwire) — Samsung Electronics Co., Apple Inc. and Kakao Corp. were the three most popular stocks bought by the MZ generation in the early half of this year, a survey said Thursday. Shinhan Investment Corp., one of South Korea’s major financial investment companies, conducted a survey of 400,000 investors who opened [...]
SEOUL, July 26 (Korea Bizwire) — SK Inc., South Korean conglomerate SK Group’s holding company, said Monday it will team up with Chinese food company Joyvio Group to create a 100 billion won (US$86.7 million) fund focused on food tech startups and tap into the growing alternative food market. The two have signed a memorandum [...]
SEOUL, July 20 (Korea Bizwire) — South Korea’s top power plant builder Doosan Heavy Industries & Construction Co. said Tuesday that it has decided to invest US$60 million to expand its stake in NuScale Power LLC., a U.S. small modular reactor (SMR) maker. Doosan Heavy already invested $44 million in the unlisted SMR maker in [...]
SEOUL, July 15 (Korea Bizwire) — Yanolja, a leading South Korean travel platform operator, said Thursday it has received a 2 trillion-won (US$1.75 billion) investment from Softbank’s Vision Fund, the second-largest investment into a South Korean company after $3 billion for e-commerce giant Coupang Inc. Yanolja, which has been seeking to go public, plans to [...]
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 [...]