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 [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korea said Tuesday it will invest nearly 28 billion won (US$25.3 million) in research and development (R&D) projects for eco-friendly automobiles and self-driving technologies in line with the country’s green energy drive. The country plans to allocate 13.4 billion won for research projects for electric vehicles and hydrogen [...]
SEOUL, Jan. 26 (Korea Bizwire) – South Korean steelmakers are doubling down on hydrogen-related investments, as part of efforts to overcome the ever-toughening environmental regulations as well as to create new growth engines. Industry experts say that in a situation where the steel industry is stigmatized as being devastating to the environment, the core competitiveness [...]
SEOUL, Jan. 21 (Korea Bizwire) — SK Innovation Co., a South Korean refinery-to-battery company, said Thursday it has invested in a Chinese battery swap system provider to step up its battery business in the world’s largest market. SK Innovation said it acquired a 13.3 percent stake in Blue Park Smart Energy Technology Co. (BPSE), a [...]
SEOUL, Jan. 15 (Korea Bizwire) — Hyundai Motor Co. said Friday it will build its first overseas hydrogen fuel-cell systems plant in China to make a presence in global hydrogen markets. Hyundai will produce 6,500 fuel-cell systems for hydrogen-powered vehicles annually at the plant in China’s southern city of Guangzhou, starting in the second half [...]
SEOUL, Jan. 13 (Korea Bizwire) — South Korea’s ICT ministry said Wednesday it will invest 386.7 billion won (US$353.3 million) to develop smart farms over the next seven years as part of the country’s efforts to introduce new technology to the agriculture sector. The Ministry of Science and ICT said it launched a foundation to [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s ICT ministry said Tuesday it will invest 125.3 billion won (US$114.1 million) this year to support the development of neural processors, up 75 percent from last year. Neural processing units refer to high-performance and low-powered logic chips that specialize in artificial intelligence (AI) services, according to the [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea said Tuesday it will allocate 205 billion won (US$186.3 million) to adopt eco-friendly technologies for the local maritime industry in line with the country’s green energy drive. Under the project, the country will seek to build a total of 39 eco-friendly ships this year, including 23 for [...]
SEOUL, Jan. 12 (Korea Bizwire) — With stock prices continue to break record highs in the New Year, many salary workers, homemakers and students who have shunned investments in stocks are experiencing a great sense of alienation. “These days, the main topic of conversation among my friends is how much they have made investing in [...]