SEOUL, July 4 (Korea Bizwire) — SK Square, a non-telecom spinoff of SK Telecom Co., announced on Tuesday that it would form a partnership with SK hynix Inc., Shinhan Financial Group Co., and LIG Nex1 Co. to establish TGC Square, an investment corporation for foreign chipmakers. The consortium aims to raise 100 billion won (US$76.8 [...]
SEOUL, July 3 (Korea Bizwire) — POSCO Holdings Inc. said Monday it will invest 121 trillion won (US$92 billion) by 2030 in an effort to boost its competitive edge in steelmaking and new growth engines. South Korea’s leading steelmaker said 73 trillion won — more than 60 percent of the total — will be used [...]
SEOUL, June 29 (Korea Bizwire) — South Korea seeks to attract 100 trillion won (US$76.55 billion) of investment in the country’s free economic zones (FEZs) and create 450,000 jobs there by 2032 to make them global hubs of advanced industries and businesses, the industry ministry said Thursday. Under the draft of the comprehensive 10-year development [...]
SEOUL, June 20 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Tuesday it will invest 109.4 trillion won (US$85.4 billion) by 2032 to secure a leading position in the global future mobility market, while aiming to sell 2 million all-electric models by 2030. Hyundai Motor’s investment plans and EV sales target are up from [...]
SEOUL, June 7 (Korea Bizwire) — South Korea plans to lift a set of industrial regulations to try to induce combined private investment worth 300 billion won (US$231 million), the finance ministry said Wednesday. The plan, the fifth of its kind, will lift hurdles for five investment projects, including construction of production lines, according to [...]
SEOUL, May 30 (Korea Bizwire) — Hanwha Aerospace Co. said Tuesday it is joining a US$50 million fund for a U.S. materials science company that owns a unique nano-coating technology for secondary batteries and energy storage systems for use in mobility vehicles and commercial vessels. Hanwha Aerospace is participating in a round of Series C [...]
SEOUL, May 26 (Korea Bizwire) — South Korea’s Hyundai Motor Group and LG Energy Solution Ltd. said Friday they will invest 5.7 trillion won (US$4.3 billion) in a battery cell plant in the United States in the latest move to better deal with the Inflation Reduction Act (IRA) amid growing demand for electric vehicles. The [...]
SEOUL, May 23 (Korea Bizwire) — Dutch semiconductor equipment maker ASM will invest US$100 million to build a new production and research and development center in South Korea by 2025, a top executive said Tuesday. The decision underscored ASM’s commitment to expanding business in South Korea, the second largest semiconductor market with 19 percent of [...]
SEOUL, May 22 (Korea Bizwire) — Business organizations of the United Arab Emirates (UAE) are currently reviewing US$2 billion worth of investment projects in South Korea, covering various sectors from energy to culture, Seoul’s finance ministry said Monday. The review came after President Yoon Suk Yeol and UAE President Mohamed bin Zayed Al Nahyan met [...]
SEOUL, May 19 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Friday it has signed an investment agreement with an Australian lithium developer in an effort to bolster the sourcing of the critical mineral used in electric vehicle (EV) batteries. Under the agreement signed with Green Technology Metals Ltd., LGES will acquire an approximately [...]