SEOUL, Aug. 22 (Korea Bizwire) — South Korea’s financial regulator said Thursday it will begin inspecting financial firms later this week over sales of controversial derivative products that carry the risk of losing nearly all investment. Choi Jong-ku, chairman of the Financial Services Commission (FSC), told lawmakers that financial authorities will start an inspection into [...]
SEOUL, Aug. 21 (Korea Bizwire) — Mercedes-Benz said Wednesday it has invested 87 billion won (US$72 million) in its South Korean logistics center in the past five years to better serve local customers. The German carmaker initially invested 52 billion won to establish the Logistics Center Korea in Anseong, 80 kilometers south of Seoul, in [...]
SAN FRANCISCO, Aug. 12 (Korea Bizwire) – Lucidworks, a leader in AI-powered search solutions, today announced a $100 million investment from investors including Francisco Partners, a global technology-focused private equity fund, and TPG Sixth Street Partners, a global finance and investment firm. With the investment, Francisco Partners and TPG Sixth Street Partners join Top Tier Capital Partners, Shasta [...]
SEOUL, Aug. 9 (Korea Bizwire) — Despite this year’s bear market, robo-advisors (RA) have achieved a return rate that surpassed benchmarks in comparison. Robo-advisors, a combination of the words ‘robot’ and ‘advisor,’ automate the distribution of investment assets through computer algorithms. According to Koscom Corp., South Korea’s technology developer for brokerage houses, the rate of [...]
Toronto, CANADA, Aug. 7 (Korea Bizwire) – FreshBooks, a leading small business accounting software in America, with paying customers in 160 countries, today announced JPMorgan Chase & Co. (NYSE: JPM) has made a strategic investment in the company. Since 2004, FreshBooks has helped more than 20 million people and established itself as one of the world’s [...]
SEOUL, Aug. 5 (Korea Bizwire) — South Korea said Monday it will spend 7.8 trillion won (US$6.47 billion) over the next five years to nurture its materials, parts and equipment sectors and trim its dependence on Japanese imports in the latest move to cope with the neighbor’s economic retaliation. The move to boost R&D for [...]
SEOUL, Jul. 30 (Korea Bizwire) — Gangwon Province is deeply concerned about paying 60 billion won (US$50.7 million) to invest in Chuncheon Legoland, as civic groups are adding pressure on the Provincial Council to reconsider the project. “The Legoland project, ensuing for the last eight years, is what civil society is strongly calling on to [...]
Alcester, Warwickshire, UK, Jul. 29 (Korea Bizwire) - Quanta Dialysis Technologies Ltd (“Quanta” or the “Company”), a British medical technology company developing a personal haemodialysis system (SC+) for patient use in the clinic and the home, today announces that it has successfully raised £38 million ($48 million) in a first closing of its Series C funding [...]
SEOUL, Jul. 23 (Korea Bizwire) — LG Display Co. said Tuesday it will invest 3 trillion won (US$2.6 billion) in an organic light-emitting diode (OLED) facility in South Korea to expand its production capacity for premium panels. The Korean panel maker has spent 4.6 trillion won in the OLED factory in Paju, north of Seoul, [...]
SEOUL, Jul. 18 (Korea Bizwire) — The total amount of investment in startups reached a record high in the first half of this year largely on the back of policy support, government data showed Thursday. A total of 1.9 trillion won (US$1.6 billion) was invested in startups in the January-June period, up 16.3 percent from [...]