SEOUL, May 11 (Korea Bizwire) — South Korea will lower regulatory hurdles for five promising industries and support their research and development (R&D) to help local companies lead fast-changing technology trends and create quality jobs, the government said Friday. The Ministry of Trade, Industry and Energy launched a consultative body composed of government and company [...]
SEOUL, May 10 (Korea Bizwire) — South Korea’s IT developer Samsung SDS Co. said Thursday it has bought stakes in U.S.-based graphics processing unit (GPU) virtualization solution provider Bitfusion Inc. Samsung SDS did not provide details of the deal, including the size of the shares acquired and price, citing business issues. The South Korean company [...]
LOWELL, Mass., May 2 (Korea Bizwire) — Rapid Micro Biosystems, the leading provider of automated, growth-based, rapid microbial detection technology for the healthcare product manufacturing sector, announced that it has secured $60 million in equity financing led by new investors Bain Capital Life Sciences and Xeraya Capital. The new funding round also includes a commitment [...]
HONG KONG, Apr. 24 (Korea Bizwire) — Sky9 Capital announced today that it has completed the final closing of Sky9 Capital Fund III, L.P. with total capital commitments of $200 million. With support from a strong group of world-class institutional investors, family foundations and entrepreneurs, the fund invests mainly in China-based businesses with a focus [...]
SEOUL, Apr. 18 (Korea Bizwire) — Samsung Electronics invested the most money in research and development (R&D) among local companies last year, while internet portal Naver was No. 1 in investment in proportion to sales, corporate analysis showed Wednesday. CEO Score compared 211 firms who rank within the top 500 companies in terms of sales [...]
SEOUL, Apr. 5 (Korea Bizwire) — SK Holdings Co., the holding firm of South Korean energy and telecom conglomerate SK Group, has invested in Singapore-based ride-hailing firm Grab, a company official said Thursday. SK Holdings made the investment in mid-March, Lee Young-suk, an official handling brand management at SK Holdings, said. “We are interested in [...]
SEOUL, Apr. 5 (Korea Bizwire) — Netmarble Games, South Korea’s top mobile game developer, has made a major investment in the country’s entertainment agency behind K-pop sensation BTS, corporate sources said Thursday. In a regulatory filing issued Wednesday, Netmarble Games said it will acquire a 25.71 percent stake in Big Hit Entertainment for 201.43 billion [...]
SEOUL, Mar. 29 (Korea Bizwire) — South Korea will allocate 49 billion won (US$45.9 million) to develop various types of drones that can be employed in emergency and disaster situations, the government said Thursday. Under the plan by the Ministry of Science and ICT, Seoul will concentrate efforts on boosting the development of drone platforms [...]
NEW YORK, Mar. 22 (Korea Bizwire) — Amper Music, the world’s first artificial intelligence (AI) music composer, performer, and producer that lets you instantly create and customize original music without needing any prior music experience, today announced it has raised an additional $4 million seed round. The financing was led by Horizons Ventures with Two [...]
SEOUL, Mar. 9 (Korea Bizwire) — Lotte Corp., the holding company of South Korean retail giant Lotte, said Friday it will continue to make major investments in Vietnam, as its head met with the country’s premier to seek support for the company’s various ongoing projects in the Southeast Asian country. During his meeting with Prime [...]