SEOUL, Feb. 19 (Korea Bizwire) — South Korea will expand investment in food and agriculture companies with good growth potential to help tide them over during the challenges of their early development, the farm ministry said Monday. The Ministry of Agriculture, Food and Rural Affairs said it will create a fund worth 50.5 billion (US$47.2 [...]
SEOUL, Feb. 7 (Korea Bizwire) — South Korean tech giant Samsung Electronics Co. has approved a preliminary investment plan to set up a second chip-production line near Seoul, an industry source said Wednesday. The Management Committee — the top decision-making body at Samsung Electronics — held a meeting earlier in the day and endorsed the [...]
AMSTERDAM, the Netherlands, Jan. 29 (Korea Bizwire) — Payvision, a global merchant acquirer and omnichannel payment provider, announced today a strategic partnership with ING, one of the largest European banks, with a strong international network. Payvision has agreed to sell a majority stake of 75%, creating a new synergy that will accelerate its ambitious growth [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korea’s major oil refiners plan to invest some 3.5 trillion won (US$3.3 billion) over the next three years to upgrade their facility and diversify their business portfolio, the country’s energy ministry said Friday. During a meeting with Paik Un-gyu, minister of trade, industry and energy, chief executives of [...]
SEOUL, Jan. 12 (Korea Bizwire) — LG Electronics Inc. said Friday that it has acquired a 10.12 percent stake in Robotis, a local robot maker, in the latest move to build its presence in the automation business. The South Korean consumer tech giant purchased about 9 billion won (US$8.4 million) worth of Robotis stock, after [...]
SEOUL, Jan. 11 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Thursday it invested in the Southeast Asian ride-hailing firm Grab for a possible business partnership in the transportation service sector. Hyundai Motor reportedly invested tens of billions of won to acquire a stake in Grab so it could get [...]
SEOUL, Jan. 3 (Korea Bizwire) — The United Arab Emirates (UAE) purchased a net 967 billion won (US$908.6 million) worth of South Korean stocks last November, raising its holdings of local equity by 7.8 percent from a month earlier, data showed Wednesday. The UAE, which held 9.4 trillion won worth of South Korean stocks at [...]
SEOUL, Dec. 27 (Korea Bizwire) — More than three out of every 10 South Korean workers have invested in cryptocurrencies to make a quick buck, a recent survey showed Wednesday. Of the 941 salaried people questioned, 31.3 percent have invested in virtual currencies, according to the survey conducted by online job portal Saramin. The average [...]
SEOUL, Dec. 20 (Korea Bizwire) — South Korea will build more solar and wind farms nationwide to nearly triple its renewable energy ratio by 2030, a project estimated at 110 trillion won (US$101 billion), the energy ministry said Wednesday. The Ministry of Trade, Industry and Energy announced the detailed plans for its new energy road [...]
SEOUL, Dec. 20 (Korea Bizwire) — More than 200 big South Korean companies have invested in 10 other firms or funds on average as part of their efforts to secure technology and expand their businesses, a market tracker said Wednesday. The data compiled by CEO Score, a website that tracks conglomerates and financial firms, showed [...]