SEOUL, Dec. 10 (Korea Bizwire) – It’s important to be in the right market at the right time, and Hyundai Motor Group Chairman Chung Euisun knows it’s time to plug into the future: electric vehicles (EV). Going electric isn’t just an eco-friendly goal but is becoming a new business reality sooner than expected, pressuring the [...]
SEOUL, Dec. 7 (Korea Bizwire) — SK Holdings Co., an investment arm of South Korean conglomerate SK Group, said Monday it has signed a strategic partnership deal with U.S. biopharmaceutical firm Roivant Sciences Ltd. to enter the targeted protein degradation drug market. Under the deal, SK will invest US$200 million into Roivant’s targeted protein degradation [...]
SEOUL, Dec. 2 (Korea Bizwire) — An accelerator for tech startups operated by Naver Inc., South Korea’s largest internet portal operator, said Wednesday it has made new investments in two promising tech startups. Naver’s D2 Startup Factory, also known as D2SF, said it has selected the two startups — Techtaka Co. and Medibloc Co. — [...]
SEOUL, Dec. 1 (Korea Bizwire) — U.S. media giant Netflix is beefing up efforts to secure popular Korean-made films and shows as part of a strategy to boost its presence in the global streaming service market. Netflix, which launched its Korean service in 2015, said it set up a separate production firm, Netflix Entertainment Korea, [...]
SEOUL, Nov. 24 (Korea Bizwire) — A consortium of two SK Group affiliates will invest 2.1 trillion won (US$1.9 billion) in data centers and a startup cluster in South Korea’s southwest industrial complex by 2025, the transport ministry said Tuesday. The consortium of SK E&S Co. and SK broadband Co. will invest 2 trillion won [...]
SEOUL, Nov. 24 (Korea Bizwire) — Naver Corp., the operator of South Korea’s dominant Internet portal, said Tuesday it will invest 180 billion won (US$161 million) over the next two years in supporting small business owners and creators. “Naver aims to produce a new kind of business synergy by connecting business and creative works through [...]
SEOUL, Nov. 18 (Korea Bizwire) — Celltrion Inc., a leading pharmaceutical firm in South Korea, said Wednesday that it will build a third plant in the country in response to rising manufacturing demand. The 500 billion-won (US$452 million) plant in the country’s biotech hub of Songdo, west of Seoul, will have a bioreactor capacity of [...]
Paris, France, Nov. 13 (Korea Bizwire) – Jeito Capital (“Jeito”), a rapidly emerging independent investor dedicated to biotech and biopharma, today announced that Sanofi has made a €50 million investment in Jeito Capital. The investment will be deployed by Jeito’s highly experienced team of pharmaceutical and biotech experts in line with its investment criteria to provide [...]
SEOUL, Nov. 10 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, is in talks with Softbank Group Corp. to acquire a U.S.-based robotics company for US$1 billion, news reports said Tuesday, as it increases investments in future mobility solutions. Hyundai Motor is mulling acquiring a controlling stake in Boston Dynamics, and [...]
SEOUL, Oct. 30 (Korea Bizwire) — President Moon Jae-in said Friday the government plans to invest more than 20 trillion won (US$17.7 billion) in electric vehicles and other areas of green mobility by 2025. The president announced the investment plan, part of the administration’s ambitious Korean New Deal initiative, as he traveled to a manufacturing [...]