SEOUL, June 21 (Korea Bizwire) — Hyundai Motor Group said Monday its three affiliates and its chief have acquired a controlling stake in U.S.-based robotics firm Boston Dynamics, Inc. for US$880 million. The investment is part of the South Korean automaking group’s broader plans to strengthen its competitiveness in future mobility solutions. In December, the [...]
SEOUL, June 21 (Korea Bizwire) — SK Bioscience Co., a major South Korean pharmaceutical firm, said Monday it plans to invest 150 billion won (US$132 million) through 2024 to expand its production capacity of COVID-19 vaccines. SK Bioscience said the investment is meant to increase the production capacity of the production line based in Andong, [...]
VICTOR, N.Y., June 17 (Korea Bizwire) – Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that it has acquired a minority stake in Dos Hombres, an artesanal and hand-crafted mezcal brand created by Breaking Bad co-stars Aaron Paul and Bryan Cranston. The investment was made through Constellation’s venture capital group, and Dos Hombres [...]
SEOUL, June 17 (Korea Bizwire) — KT Corp., a major South Korean telecom operator, said Thursday it will invest a total of 23.6 billion won (US$20.9 million) in three companies under the fintech-focused Webcash Group in a move to strengthen its foothold in financial services. A KT spokesperson said the company will invest 14.4 billion [...]
SEOUL, June 8 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Tuesday it has struck a deal to buy a 7.5 percent stake in an Australian chemical company for 12 billion won (US$10.8 million) for a stable supply of critical metals used in electric vehicle batteries. LG Energy Solution, the wholly [...]
SEOUL, June 3 (Korea Bizwire) — SK Corp., the holding company of SK Group, said Thursday it has made a strategic investment in Monolith Materials Inc., an American hydrogen company, to ramp up its clean energy business. The holding firm of South Korea’s No. 3 conglomerate said it has signed a deal to acquire stakes [...]
SEOUL, June 3 (Korea Bizwire) — SK Planet, a data analysis subsidiary of top mobile carrier SK Telecom Co., said Thursday it will invest 15 billion won (US$13.2 million) in local cancer diagnostics firm Bertis in a move to expand its presence in the digital health care industry. The move will make SK Planet the [...]
Tualatin, Oregon, June 1 (Korea Bizwire) – iGrafx, a leader in Business Process Management and automation solutions for the world’s leading enterprises, announced today that Banneker Partners, an enterprise software-focused investment firm, has invested in the company. Banneker’s software expertise, extensive track record and deep capital will enable iGrafx to pursue a strategy focused on delivering [...]
SEOUL, June 1 (Korea Bizwire) — ONE store, a South Korean app market operator, said Tuesday it received a combined 17 billion won (US$15 million) in funding from Microsoft Corp. and the venture capital arm of Deutsche Telekom as it prepares to go public later this year. Microsoft will invest 11.3 billion won in the [...]
SEOUL, June 1 (Korea Bizwire) — Ahead of the enforcement of the so-called severe disaster law, which is slated to take effect next January, South Korea’s major construction companies are beefing up investment in safety. Under the new legislation, business owners or CEOs are subject to at least one year in prison or up to [...]