DAVOS, Jan. 18 (Korea Bizwire) — Danish wind turbine producer Vestas Wind Systems will invest US$300 million in South Korea and move its Asia-Pacific headquarters to the country, the presidential office said Wednesday. The investment will be made toward a large-scale turbine parts plant that will produce key equipment for wind turbines for export to [...]
SEOUL, Jan. 18 (Korea Bizwire) — Lotte Confectionery Co. said Wednesday it will invest 70 billion won (US$56.6 million) in its ice cream making affiliate in India, Havmor Ice Cream Ltd., over the next five years as the confectionery maker tries to strengthen its rapidly growing India business. Lotte Confectionery will build a new 60,000-square-meter [...]
SEOUL, Jan. 12 (Korea Bizwire) — Kakao Entertainment Corp., an entertainment, media and publishing unit under the South Korean tech giant Kakao Corp., said Thursday that it has secured a 1.2 trillion-won ($963.8 million) investment from global sovereign wealth funds. The company said it is the largest overseas investment raised by a South Korean content [...]
SEOUL, Jan. 12 (Korea Bizwire) — Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, said Thursday it will invest 7.5 trillion won (US$6 billion) to build a new biomedicine production complex west of Seoul. Samsung Biologics CEO John Rim said in the J.P. Morgan Healthcare Conference in San Francisco that the new [...]
SEOUL, Jan. 11 (Korea Bizwire) — Hanwha Solutions Corp. said Wednesday it will invest 3.2 trillion won (US$2.57 billion) to build a production complex for solar panel parts in Georgia, the United States, as the company tries to strengthen its presence in the U.S. The energy unit of Hanwha Group said the investment is meant [...]
SEOUL, Jan. 11 (Korea Bizwire) — Lotte Biologics Co., a pharmaceutical unit under the retail giant Lotte Group, said Wednesday it will invest US$3 billion to build a bio industrial complex in South Korea by 2030 that houses three plants. Its CEO, Lee Won-jik, announced the plan during the J.P. Morgan Healthcare Conference held in [...]
SEOUL, Jan. 3 (Korea Bizwire) – South Korea will funnel 559.4 billion won (US$438.4 million) into research and development of core bio technology in 2023 in line with the country’s long-term strategy to lead the up-to-date digital-biotech sector in the future, the science ministry said Tuesday. It is a part of the government’s 2023 budget [...]
SEOUL, Dec. 21 (Korea Bizwire) — Major South Korean chemical firm LG Chem Ltd. said Wednesday it is buying a stake in a local battery recycling startup for a joint venture in North America, accelerating efforts to secure key components for electric vehicle batteries. LG Chem signed the agreement Tuesday with JaeYoung Tech Ltd. to [...]
SEOUL, Dec. 19 (Korea Bizwire) — LG Energy Solution Ltd. said Monday it will spend 4 trillion won (US$3.07 billion) over the next five years to expand production and other facilities at its main domestic battery manufacturing complex in the country’s central region. The investment in the Ochang plant, located in Cheongju, North Chungcheong Province, [...]
SEOUL, Dec. 7 (Korea Bizwire) — South Korea will funnel 400 billion won (US$304.5 million) into research and development next year to foster the digital transformation in the bio technology sector as part of the country’s long-term future growth plan, the science ministry said Wednesday. The Ministry of Science and ICT released its latest digital-biotech [...]