SEOUL, Feb. 3 (Korea Bizwire) — South Korea will invest 202.4 billion won (US$181.8 million) this year in virtual reality (VR) technology and devices to support the growth of the country’s digital content industry, according to the ICT ministry on Wednesday. The move comes after the government unveiled a broader interagency investment plan for the [...]
REDWOOD CITY, Calif., Feb. 2 (Korea Bizwire) — A day after announcing their new immuno-oncology collaboration, Coherus BioSciences, Inc. (Nasdaq: CHRS) (“Coherus”) announced that Shanghai Junshi Biosciences Co., Ltd (HK: 1877; SH: 688180) (“Junshi Biosciences”) intends to make a strategic investment of $50 million in Coherus pursuant to the terms of the definitive stock purchase agreement. [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s sovereign wealth fund said Tuesday it earned US$21.8 billion from investment, boosted by stock rallies, as the coronavirus pandemic prompted central banks to cut rates and pump liquidity into markets. Choi Hee-nam, chief executive of Korea Investment Corp. (KIC), told reporters that its return on investment was [...]
SEOUL, Feb. 1 (Korea Bizwire) – South Korea said Monday it will provide 240 billion won (US$214 million) in support for research and development (R&D) in logic chips and the fabless chip sector this year as the country seeks to boost its semiconductor industry. The R&D plan aims to foster fabless chipmakers and bolster the [...]
SEOUL, Jan. 29 (Korea Bizwire) — SK Holdings Co., the holding firm of South Korean energy and telecom conglomerate SK Group, is moving into the silicon carbide (SiC) power semiconductor market. SiC power semiconductors are one of the core components of electric vehicles and hydrogen fuel-cell automobiles. The firm announced on Thursday that it had [...]
SEOUL, Jan. 28 (Korea Bizwire) – Samsung Electronics Co. on Thursday said it aims to clinch merger and acquisition (M&A) deals and expand investments in the upcoming years as the South Korean tech giant eyes to fend off challenges from its rivals amid global uncertainties In its conference call, Samsung’s chief finance officer Choi Yoon-ho [...]
SEOUL, Jan. 27 (Korea Bizwire) — Big Hit Entertainment, the agency behind global star BTS, announced on Wednesday that it plans to invest 70 billion won (US$63 million) in YG Entertainment, one of the biggest K-pop agencies in South Korea. Under the deal, Big Hit and its affiliate beNX will invest 30 billion won and [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korea will invest 45 billion won (US$41 million) in the next five years to develop next-generation technologies to track and monitor space objects, a state-run research center said Wednesday. The new laser-based technologies are aimed at better monitoring objects that fly over the Korean Peninsula amid an increase [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korea’s ICT ministry said Tuesday it will invest 165.5 billion won (US$150 million) this year to develop new business-focused technology that incorporates 5G, such as self-driving cars and virtual reality (VR) services, in a move to boost the country’s use of the latest generation network. While local 5G [...]
SEOUL, Jan. 26 (Korea Bizwire) — BMW Group Korea said Tuesday it will invest 60 billion won (US$54 million) until 2023 in expanding its local logistics center. The logistics center in Pyeongtaek, just south of Seoul, will be able to accommodate about 18,000 vehicles, up from the current 11,000 with the expansion, the company said [...]