SEOUL, March 23 (Korea Bizwire) — KT Corp., a major South Korean telecom operator, said Tuesday it aims to acquire more than 1,000 works of intellectual property in media content by 2023 and spend big to boost its media and video streaming business amid growing competition. KT CEO Ku Hyeon-mo said in an online briefing [...]
SEOUL, March 17 (Korea Bizwire) — The spread of contactless work and tasks following last year’s coronavirus outbreak has led companies to bolster efforts to prevent data leaks. The Ministry of Science and ICT and the Korea Information Security Industry Association conducted a study of 9,000 businesses with more than one employee and an internal [...]
SEOUL, March 12 (Korea Bizwire) — LG Energy Solution Ltd. said Friday it will invest 5 trillion won (US$4.5 billion) by 2025 to expand its battery production capacity in the United States to meet growing demand in the key market. The battery subsidiary wholly owned by LG Chem Ltd. said the investment will increase its [...]
VICTOR, N.Y., March 11 (Korea Bizwire) – Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today a commitment to invest $10 million in the Clear Vision Impact Fund, LP, a newly-formed investment vehicle founded by Siebert Williams Shank & Co., LLC – the only U.S. investment bank certified as a women [...]
SEOUL, March 10 (Korea Bizwire) — South Korea plans to invest more than 200 billion won (US$176 million) in developing automotive chip-making technology by 2022 in an effort to nurture the next-generation vehicle sector, the finance minister said Wednesday. Finance Minister Hong Nam-ki said the government plans to cooperate with local automakers to find ways [...]
SEOUL, March 8 (Korea Bizwire) — S-Oil Corp., South Korea’s No. 3 oil refiner, said Monday it is investing 8.2 billion won (US$7.3 million) in a fuel cell developer to diversify its energy portfolio. The refiner owned by Saudi Aramco said in a regulatory filing that it will acquire a 21 percent stake in Fuel [...]
SEOUL, March 5 (Korea Bizwire) — South Korea said Friday it plans to invest 115.3 billion won (US$102 million) this year to study deeper into state-of-the-art aviation technologies as it vowed to spare no efforts to help local companies to overcome the new coronavirus pandemic. The announcement is in line with the country’s 10-year development [...]
SEOUL, March 4 (Korea Bizwire) — South Korea announced Thursday it plans to invest 300 billion won (US$267 million) over the next three years to speed up the growth of the digital retail segment, which has recently enjoyed an unprecedented boom amid the COVID-19 pandemic. Under the plan, the country will not only pave the [...]
SEOUL, March 4 (Korea Bizwire) — South Korea said Thursday it will spend over 2 trillion won (US$1.78 billion) over the next 10 years to help local pharmaceutical companies develop new medicines that generate annual sales of over 1 trillion won. The country’s ambitious 2.18 trillion won project, which starts in July this year, will [...]
SEOUL, March 3 (Korea Bizwire) — Major South Korean telecom operators KT Corp. and LG Uplus Corp. said Wednesday they invested a total of 26 billion won (US$23.1 million) for a minority stake in the homegrown app market ONE store, bolstering the smaller local rival to Google’s Play store. KT has invested 21 billion won [...]