SEOUL, May 22 (Korea Bizwire) — Business organizations of the United Arab Emirates (UAE) are currently reviewing US$2 billion worth of investment projects in South Korea, covering various sectors from energy to culture, Seoul’s finance ministry said Monday. The review came after President Yoon Suk Yeol and UAE President Mohamed bin Zayed Al Nahyan met [...]
SEOUL, May 19 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Friday it has signed an investment agreement with an Australian lithium developer in an effort to bolster the sourcing of the critical mineral used in electric vehicle (EV) batteries. Under the agreement signed with Green Technology Metals Ltd., LGES will acquire an approximately [...]
SEOUL, May 18 (Korea Bizwire) — Samsung Display Co., LG Display Co and other South Korean display companies will make a combined investment of over 65 trillion won (US$48.77 billion) by 2027 to secure innovative technologies and reclaim the world’s No. 1 position, the industry ministry said Thursday. The planned investments aim to expand the [...]
SEOUL, May 17 (Korea Bizwire) — Hanwha Q Cells, the solar panel unit of Hanwha Solutions Corp., said Tuesday it will invest 136.5 billion won (US$101 million) to establish a test facility at its Jincheon plant in North Chungcheong Province. This facility aims to enable mass production of perovskite-silicon tandem cells and modules. The trial [...]
SEOUL, May 12 (Korea Bizwire) — Hyundai Motor Co. is set to carve a dominant niche in the thriving Indian auto market. The automaker announced on Thursday that it had signed a memorandum of understanding (MOU) with the Tamil Nadu State Government to inject 200 billion rupees (US$2.43 billion) into the country’s economy over the [...]
SEOUL, April 28 (Korea Bizwire) — SK Bioscience Co., a pharmaceutical affiliate under SK Group, said Friday it will invest 2.4 trillion won (US$1.79 billion) by 2028 as it is seeking to further expand its contract manufacturing business. The proposed investment — twice the amount the company had spent in the past five years — [...]
SEOUL, April 28 (Korea Bizwire) — Major South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. said Friday it will expand its research and development (R&D) spending in Europe to secure future shipbuilding and maritime technologies. To that end, HD Korea Shipbuilding will spend 15 million euros (US$16.5 million) on its European research institute [...]
SEOUL, April 26 (Korea Bizwire) — Hanwha Aerospace Co., an aerospace business unit of chemical-to-financial conglomerate Hanwha Group, has invested in an Israeli startup that is developing anti-jamming technology to prevent global positioning system (GPS) signal interference. The company on Tuesday announced its participation in the Series A investment round for infiniDome in collaboration with [...]
WASHINGTON/SEOUL, April 25 (Korea Bizwire) — Netflix said Monday it will invest US$2.5 billion in South Korea over the next four years to produce Korean TV series, movies and scripted shows. The U.S. streaming service announced the plan following a meeting between South Korean President Yoon Suk Yeol and Netflix co-CEO Ted Sarandos after Yoon arrived [...]
SEOUL, April 20 (Korea Bizwire) — South Korea will invest 20 trillion won (US$15.9 billion) by 2030 in developing next-generation secondary batteries and securing advanced technologies for materials, parts and equipment of the sector, the industry ministry said Thursday. The planned investment by the government and major battery makers combined, including LG Energy Solution Ltd., [...]