WASHINGTON, April 22 (Korea Bizwire) — Considerable growth in silver investment was the chief driver of the metal’s 27 percent average price gain in 2020. Leading the way was substantial demand for silver-backed exchange-traded products (ETPs), which took global holdings above one billion ounces for the first time since their introduction in 2006. Strong demand [...]
SEOUL, April 21 (Korea Bizwire) — Kumho Mitsui Chemicals Inc. said Wednesday it will invest about 400 billion won (US$358.1 million) to expand its chemical manufacturing factory in South Korea’s southwestern region. The joint venture between Korean synthetic rubber maker Kumho Petrochemical and Mitsui Chemicals of Japan said its shareholders approved the investment plan to [...]
SEOUL, April 16 (Korea Bizwire) — South Korea said Friday it plans to increase investment in research & development (R&D) on key technologies for next-generation vehicles in a bid to help local automakers take the lead in the market. Finance Minister Hong Nam-ki said the government will spend 367.9 billion won (US$328 million) in supporting [...]
SEOUL, April 15 (Korea Bizwire) — LG Electronics Inc. said Thursday it will invest US$20.5 million to expand its washing machine factory in the United States in a move to meet growing demand in the country. The home appliance maker said the investment will create 334 new jobs at the plant in Clarksville, Tennessee, bringing [...]
SEOUL, April 12 (Korea Bizwire) — Investment funds in South Korea that consider environmental, social and governance (ESG) factors in investment decisions are emerging as a hot trend in the nation’s financial industry. The number of financial products that are classified as equity ESG funds among domestic public offering funds as of Thursday totaled 36 [...]
SEOUL, April 9 (Korea Bizwire) — T Map Mobility Co., a mobility unit under telecom operator SK Telecom Co., said Friday it will issue new shares to raise 400 billion won (US$357.3 million) as it seeks to compete with larger rival Kakao Mobility Corp. The taxi-hailing app operator will issue 4.57 million new common shares [...]
SEOUL, April 7 (Korea Bizwire) — Naver Corp., South Korea’s top internet portal operator, said Wednesday it has made a strategic investment of US$150 million in Indonesian media giant Emtek to strengthen its foothold in the Southeast Asian market. Emtek operates broadcast channels, as well as the over-the-top service Vidio, overseeing media content production and [...]
SEOUL, April 6 (Korea Bizwire) — SK Group said Tuesday it will make a strategic investment in VinCommerce, Vietnam’s largest retail group, to tap into the fast-growing e-commerce segment in the Southeast Asian market. SK said its Southeast Asian investment arm signed a deal to buy a 16.3 percent share in VinCommerce for 460 billion [...]
SEOUL, April 1 (Korea Bizwire) — U.S. tech giant Google will invest more than 50 billion won (US$44.15 million) in Kakao Mobility Corp., the country’s top taxi-hailing company, parent Kakao Corp. said Thursday. Google will invest in Kakao Mobility by acquiring new shares worth 56.51 billion won, according to a regulatory filing from Kakao. The [...]
SEOUL, March 30 (Korea Bizwire) — SK E&S Co., the natural gas provider under SK Group, said it will invest 1.6 trillion won (US$1.4 billion won) over the next five years to develop an Australian gas field for the stable supply of liquefied natural gas (LNG). SK E&S said it approved the investment plan to [...]