SEOUL, March 23 (Korea Bizwire) — SK Innovation Co., a major South Korean energy company, said Thursday it has invested an additional US$50 million in Amogy Inc., a U.S. developer of an ammonia-based fuel cell platform, expanding the investment in sustainable fuels. SK Innovation took part in the latest $139 million Series B-1 funding round [...]
SEOUL, March 9 (Korea Bizwire) — SK Networks Co., a trading and ICT distribution unit under SK Group, said Thursday it has acquired a 2.6 percent stake in a U.S. artificial intelligence (AI) startup, in its latest investment in AI technologies. SK Networks spent US$22 million in direct and indirect investments in the $100 million [...]
SEOUL, March 9 (Korea Bizwire) — AliExpress Korea plans to invest about 100 billion won (US$75.7 million) in South Korea this year, the top executive said Thursday, as the online retailer backed by China’s Alibaba Group is pushing to strengthen its presence in the growing cross-border shopping market. The investment is meant “to offer more [...]
SEOUL, Feb. 23 (Korea Bizwire) — More than half of European companies based in South Korea intend to increase investment this year from last year, with nearly every seven out of 10 showing satisfaction in doing business here, a poll showed Thursday. Fifty-five percent of the companies said they plan to increase investment or operational [...]
SEOUL, Feb. 22 (Korea Bizwire) — Legoland Korea Resort is confident about its financial soundness and plans to invest around 100 billion won (US$76.7 million) over the next five years, an executive said Wednesday, as the theme park pushes for further growth in South Korea. “One of the many features of a theme park is [...]
SEOUL, Feb. 17 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Friday it has invested US$75 million to acquire a stake in U.S.-based Piedmont Lithium Inc. for a stable supply of the key material for electric vehicle batteries. With the equity investment, LG Chem owns about 6 percent of Piedmont common [...]
SEOUL, Feb. 7 (Korea Bizwire) — South Korea will invest 52.5 billion won (US$41.81 million) in 96 fresh projects to develop technologies for major materials, components and equipment this year in an effort to promote advanced industries and to better ensure stable supply chains, the industry ministry said Tuesday. It is part of a total [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s industry ministry said Thursday it agreed with Dutch semiconductor equipment supplier ASM to boost cooperation for the firm’s planned investment of US$100 million to build a production factory and a research and development center in South Korea. The two sides signed a memorandum of understanding (MOU) in [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korea will earmark 1.21 trillion won (US$982.3 million) this year for technology development in nuclear energy, hydrogen and other energy resources, the industry ministry said Thursday. The budget marked a 0.8 percent on-year growth, as the country has sought to secure advanced technologies to ensure energy security and [...]
SEOUL, Jan. 22 (Korea Bizwire) — More than four out of 10 South Korean conglomerates plan to cut back on their investment both at home and abroad this year amid a global economic slowdown and worsening market conditions, a survey by the state-run trade agency has showed. According to the recent survey by the Korea [...]