SEOUL, Jan. 7 (Korea Bizwire) — SK Group, a South Korean conglomerate, said Thursday it will invest 1.6 trillion won (US$1.5 billion) in U.S. fuel cell maker Plug Power Inc. to expand its footprint in the hydrogen business. SK Holdings Co., the group’s holding firm, and SK E&S Co., a natural gas subsidiary, will acquire [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korea said Wednesday it will spend 12.7 trillion won (US$11.7 billion) this year as part of its digital New Deal program, which aims to foster new tech industries for job creation. The government last year unveiled ambitious stimulus projects, under its Korean New Deal initiative, amounting to 160 [...]
SEOUL, Jan. 3 (Korea Bizwire) — South Korea said Sunday it will spend 5.8 trillion won (US$5.3 billion) on science and information and communication technology (ICT) research this year as the country fosters new tech industries under its digital New Deal drive and targets going carbon neutral. The earmarked amount is a 12 percent rise [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korea said Wednesday it will spend 150.1 billion won (US$137.8 million) on climate and environment-related research next year, up 12.9 percent from this year, to bolster the country’s efforts to become carbon neutral by 2050. The Ministry of Science and ICT said it will invest in 30 new [...]
SEOUL, Dec. 29 (Korea Bizwire) — South Korea said Tuesday it plans to invest around 5 trillion won (US$4.5 billion) in research and development (R&D) projects in 2021 to foster new growth engines while seeking green growth. The amount marks a 19 percent jump from 4.1 trillion won allocated this year, according to the Ministry [...]
SEOUL, Dec. 22 (Korea Bizwire) — South Korea said Tuesday it will invest 520 billion won (US$470 billion) in biotechnology next year as part of efforts to develop treatment and vaccines for COVID-19. The Ministry of Science and ICT said the figure represents a 24.9 percent hike from 2020. The ministry said it will spend [...]
NEWCASTLE UPON TYNE, UK, Dec. 17 (Korea Bizwire) – QuantuMDx Group Limited, a UK-based life sciences company developing transformational point-of-care molecular diagnostics, today announced it is investing over £11 million to scale up production to mass manufacture its flagship diagnostic device, Q-POC™ and disposable test cassette. QuantuMDx accelerated development, scale-up and manufacture of Q-POC™ – [...]
SEOUL, Dec. 14 (Korea Bizwire) — SK Innovation Co. has invested in an electric vehicle (EV) battery plant in China in the latest move to boost its production capacity amid growing demand for zero-emission cars in the world’s largest auto market, people familiar with the matter said Monday. The South Korean EV battery maker acquired [...]
Paris, France, Dec. 14 (Korea Bizwire) – Jeito Capital (“Jeito”), a rapidly emerging independent investor dedicated to biotech and biopharma, today announces that it has led a €20 million Series A financing in InnoSkel, a newly launched pioneering platform biotechnology company developing therapies for rare and life-threatening skeletal diseases. Jeito co-led the financing in a [...]
SEOUL, Dec. 10 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Thursday it will invest 60.1 trillion won (US$55.5 billion) by 2025 for future mobility to gain a bigger share in the rapidly evolving global automobile markets. Hyundai Motor said it will strengthen its electrified vehicle lineup to compete with its rivals, such as [...]