SEOUL, May 17 (Korea Bizwire) — LG Group, South Korea’s fourth-largest conglomerate, said Monday it will invest more than US$100 million for the next three years to establish massive high-performance computing infrastructure for advanced artificial intelligence (AI) development. LG AI Research, the group’s AI R&D hub, plans to develop a “hyper-mega AI” system resembling a [...]
SEOUL, May 16 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading car battery maker, said Sunday it will invest 40 billion won (US$35 million) in a Chinese copper foil company for a stable supply of the core battery material. LG Chem will make the investment in a stake of Jiujiang DeFu Technology, China’s third-largest [...]
SEOUL, May 14 (Korea Bizwire) — Hyundai Motor Group said Friday it will invest 8.1 trillion won (US$7.4 billion) in the United States by 2025 to produce electric vehicles, improve production facilities and increase its presence in the smart mobility solutions area. Hyundai Motor Co., the flagship of the country’s top automaking group, plans to [...]
VICTOR, N.Y., May 13 (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 the fast-rising rosé label, La Fête du Rosé – a brand created to cater to diverse drinkers who share common interests across travel, food, experiences, and wine. The investment [...]
SEOUL, May 13 (Korea Bizwire) — Samsung Electronics Co. announced Thursday that it will invest a total of 171 trillion won (US$151 billion) in the logic chip and foundry sectors by 2030 as the tech giant eyes to expand its leadership beyond the memory business. The latest investment plan expands its semiconductor vision announced in [...]
SEOUL, May 11 (Korea Bizwire) — LG Uplus Corp., a major South Korean telecom operator, said Tuesday it will invest more than 300 billion won (US$267.9 million) to build a new internet data center amid growing user demand. The company said in a regulatory filing that it will invest 318.1 billion won for a new [...]
SEOUL, May 4 (Korea Bizwire) — Small-sized construction equipment maker Doosan Bobcat Inc. said Tuesday that it will spend 77 billion won (US$68.6 million) to expand one of its U.S. plants in a bid to meet growing demand. The plant located in Statesville, North Carolina, produces compact tractors and portable power stations, or compact battery-powered [...]
SEOUL, April 26 (Korea Bizwire) — So-called ‘shoe-vesting’, or using shoes as a means of financial investment, is gaining popularity among South Korea’s younger generation. Various platforms are being established to cater to this trend, as well as the demand from the MZ generation. ‘Shoe-vesting’ primarily involves reselling limited edition shoes at a higher price, [...]
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 [...]