SEOUL, Sept. 11 (Korea Bizwire) — Hyundai CRADLE, the venture capital arm of Hyundai Motor Co., has made a strategic investment in Migo, a mobile app for on-demand rides, the South Korean carmaker said Tuesday, the latest in a series of moves to boost its presence in the growing global mobility market. Migo — launched [...]
LOS GATOS, Calif., Aug. 27 (Korea Bizwire) — Tascent, Inc., the industry leader in intuitive biometrics, has raised $19.5 million in a Series B financing led by NEC Corporation and Tano Capital, with participation by Min Aik Technology Co., Ltd. The funding will be used to expand Tascent’s biometrics product and solution suite and extend [...]
SEOUL, Aug. 23 (Korea Bizwire) — The amount of foreign securities held by major South Korean institutions fell for the first time in more than three years in the second quarter due to a drop in holdings of foreign currency-denominated bonds, central bank data showed Thursday. As of the end of June, the value of [...]
VICTOR, N.Y. and SMITHS FALLS, Ontario, Aug. 15 (Korea Bizwire) — Constellation Brands (NYSE: STZ and STZ.B), a leading beverage alcohol company, and Canopy Growth Corporation (Canopy Growth) (TSX: WEED, NYSE: CGC), a leading diversified cannabis company (together, the “Companies”), today announced a significant expansion of their strategic partnership to position Canopy Growth as the [...]
SEOUL, Aug. 9 (Korea Bizwire) — Lee Jae-yong, Vice Chairman of Samsung Electronics, attended only two public functions in the six months following his release from prison when his sentence was suspended on appeal in February. Lee’s reason for keeping a low profile is said to be due to his urge to focus on discovering [...]
SEOUL, Aug. 8 (Korea Bizwire) — Samsung Electronics Co. on Wednesday declared that it will make investments worth a whopping 180 trillion won (US$160 billion) over the next three years, seeking to effectively overcome various challenges to its business and its relationship with a government that has maintained a tough stance on family-controlled firms. The [...]
SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s national pension could run out of money by 2056 or 2057 if current financial conditions continue, three to four years earlier than previously projected by the government, official sources said Thursday. The government conducts reviews on the financial soundness of the National Pension Service (NPS) every five [...]
SEOUL, Jul. 27 (Korea Bizwire) — SK hynix Inc. said Friday it will build a new semiconductor fabrication (FAB) plant at its headquarters in Icheon, southeast of Seoul, seeking to cope with the rising demand for memory chips around the globe. South Korea’s No. 2 chipmaker said the construction will begin later this year, which [...]
SEOUL, Jul. 20 (Korea Bizwire) — General Motors Co. will invest US$50 million (57 billion won) to expand its main plant in South Korea as it strives to put its loss-making Korean unit back on track, GM Korea Co. said Friday. GM, which owns a 77 percent stake in GM Korea, will make the investment [...]
Lugano, Switzerland, May 24 (Korea Bizwire) – Helsinn, a Swiss pharmaceutical group focused on building quality cancer care products, today announced a €6million investment at its drug product supply centre, Helsinn Birex Pharmaceuticals Ltd (HBP) in Dublin Ireland, as part of its ongoing commitment to ensuring high quality products, safeguarding its supply chain and in compliance [...]