SEOUL, Nov. 30 (Korea Bizwire) — Chey Tae-won, the chairman of SK Group, has revealed that the company is willing to boost investment in a new electric car battery plant in the U.S. state of Georgia. Construction of the plant is expected to kick off next year. Chey visited SK’s Washington D.C. office on November [...]
SEOUL, Nov. 26 (Korea Bizwire) — SK Innovation Co., South Korea’s top energy-chemical business, said Monday that it will invest 1.14 trillion won (US$1.01 billion) to build an electric vehicle (EV) battery plant in the United States. The company said it has decided to construct the 9.8 gigawatt-hour capacity battery plant in the city of [...]
SEOUL, Nov. 23 (Korea Bizwire) — Japanese software giant Softbank Group Corp.’s chairman, Masayoshi Son, a third-generation Korean-Japanese most widely known by his Korean name “Son Jeong-ui” here, has reportedly decided to invest US$2 billion in Coupang, leaving experts seeking an explanation as to Son’s great interest in the Korean e-commerce website. Meanwhile, other competing [...]
SEOUL, Nov. 22 (Korea Bizwire) — South Korean manufacturers have been shifting the focus of their overseas direct investment to Vietnam from China thanks to tax benefits, cheaper labor and other favorable conditions, a report said Thursday. Vietnam accounted for 17.7 percent of South Korean manufacturing companies’ total direct overseas investment in 2017, up sharply [...]
SEOUL, Nov. 21 (Korea Bizwire) — Coupang said Wednesday it has attracted US$2 billion from Japan’s Softbank Group Corp., a move that could give a boost to South Korea’s top e-commerce company mired in mounting losses in recent years. The South Korean retailer said it will use investments from Softbank Vision Fund in innovating its [...]
VICTOR, N.Y. and SMITHS FALLS, Ontario, Nov. 1 (Korea Bizwire) — Constellation Brands, Inc. (Constellation) (NYSE: STZ and STZ.B) and Canopy Growth Corporation (Canopy Growth or the Company) (TSX: WEED, NYSE: CGC) today announced the closing of Constellation’s $5 billion CAD ($4 billion USD) investment in Canopy Growth, which was previously announced on August 15, 2018. The transaction was approved [...]
SEOUL, Oct. 23 (Korea Bizwire) — Lotte Group said Tuesday it will invest 50 trillion won (US$44 billion) and create 70,000 new jobs in the next five years in its first major business decision after its chief returned to the helm of South Korea’s fifth-largest conglomerate. Lotte Corp., the business group’s holding firm, said that [...]
SEOUL, Oct. 23 (Korea Bizwire) — Six out of 10 South Korean venture companies with overseas operations are willing to invest in North Korea if inter-Korean economic cooperation is revitalized, according to a poll released Tuesday. In the survey of 267 venture companies by the Small and Medium Business Corporation, over 60 percent reacted positively [...]
Santa Clara, Ca, Oct. 22, 2018 (Korea Bizwire) — Ondot Systems, the global leader in mobile payments services, today announced that it has secured a strategic funding investment from Citi Ventures. Ondot works directly with financial institutions to give consumers increased control over and visibility into their personal payment transactions. With Ondot, consumers can manage [...]
SEOUL, Oct. 10 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest carmaker by sales, said Wednesday it has invested in a U.S. neuroscience startup in a move to develop automated vehicles. The strategic investment in Perceptive Automata aims to allow Hyundai Motor to secure artificial intelligence-related technologies which could be utilized in the fields [...]