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 [...]
SEOUL, March 29 (Korea Bizwire) — SK IE Technology Co. (SKIET), an affiliate of South Korean EV battery producer SK Innovation Co., has decided to make a large investment to preempt the fledgling market for lithium-ion battery separators. The company decided to invest an unprecedented 1.13 trillion won (US$997 million) to build its third and [...]
SEOUL, March 26 (Korea Bizwire) — Content Wavve Corp., the operator of South Korean streaming giant Wavve, said Friday it will invest 1 trillion won (US$882.7 billion) in content over five years to strengthen its portfolio amid growing competition from local and foreign rivals. Under the investment plan, Wavve — a joint venture between the [...]