SEOUL, Jul. 3 (Korea Bizwire) — Hyundai Oilbank Co., a refining unit of Hyundai Heavy Industries Group, said Wednesday it will invest 260 billion won (US$221 million) to beef up its petrochemicals production. Hyundai Oilbank said its affiliate Hyundai Chemical Co. will chip in 100 billion won to expand its production of mixed xylene, a [...]
LIVONIA, Mich., Jun. 24 (Korea Bizwire) — WorkForce Software®, a leading global provider of cloud-based workforce management solutions, announced today a significant equity investment from affiliates of Evergreen Coast Capital Corp. (“Evergreen”), the technology-focused private equity arm of Elliott Management Corporation. With the investment, Evergreen will become equal partners with Insight Partners, which has been [...]
SEOUL, Jun. 21 (Korea Bizwire) — Delta Air Lines Inc.’s surprise move to invest in Hanjin KAL, the parent company of its joint venture partner Korean Air Lines Co., will help its partner fend off growing pressure from a local activist fund to change its leadership and improve its corporate governance, industry sources said Friday. [...]
SEOUL, Jun. 18 (Korea Bizwire) — KT Corp., South Korea’s largest telecom firm, said Tuesday it will invest 500 billion won (US$422 million) by 2023 to develop cloud technologies based on its 5G network to create new business opportunities. KT said it will combine its 5G network and cloud expertise to launch convergence services, including [...]
ULSAN, Jun. 13 (Korea Bizwire) — South Korean petrochemical companies plan to invest 14.5 trillion won (US$12.2 billion) by 2023, the finance minister said Thursday, in an apparent move to boost their output capacity. Hong Nam-ki, the minister of economy and finance, also said the government is considering offering additional tax benefits to petrochemical companies [...]
SEOUL, Jun. 13 (Korea Bizwire) — Private investors in the real estate market are turning to Real Estate Investment Trusts (REITs) as the market is suffering from an overall slump following government restrictions. SG Lab, a research arm of the South Korean real estate marketing firm MB& Holdings Co., reported that the number of REITs [...]
SEOUL, Jun. 13 (Korea Bizwire) — Hyundai Motor Group said Thursday it has invested in U.S. self-driving car startup Aurora Innovation to enhance its autonomous vehicle technologies. In the partnership, the South Korean auto group will jointly develop autonomous vehicle technologies in order to come up with an optimal self-driving platform for models produced by [...]
SEOUL, Jun. 10 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest carmaker by sales, said Monday it will invest in Israeli technology startup MDGo to develop vehicles that automatically call an ambulance in the case of car accidents. Hyundai Motor’s investment centers on embedding the Israel firm’s advanced technologies in its next-generation vehicles, the [...]
HANOI/SEOUL, Jun. 9 (Korea Bizwire) — SK Group, South Korea’s third-largest conglomerate, said Sunday it will provide US$30 million to support the building of Vietnam’s tech innovation center. SK Group Chairman Chey Tae-won reached a funding agreement with Vietnamese Prime Minister Nguyen Xuan Phuc during his three-day visit to the Southeast Asian nation last week, [...]
SEOUL, Jun. 2 (Korea Bizwire) — SK energy Co., a wholly owned unit of the country’s leading refiner SK Innovation Co., said Sunday it will invest 250 billion won (US$209.8 million) to transform its facilities into environment-friendly ones. SK energy, which supplies gasoline, diesel, and liquefied petroleum gas products to local consumers, plans to gradually [...]