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LG Completes Stock Sales Deal with Magna for EV Powertrain Joint Venture

LG Completes Stock Sales Deal with Magna for EV Powertrain Joint Venture

SEOUL, July 28 (Korea Bizwire) — LG Electronics Inc. said Wednesday it has completed its stock sales deal with Canadian auto parts maker Magna International Inc. over their electric vehicle (EV) powertrain joint venture. The South Korean tech giant announced that Magna has acquired a 49 percent stake in LG Magna e-Powertrain Co. for US$453 [...]

POSCO to Set Up US$ 600 mln JV with Chinese Steelmaker HBIS Group

POSCO to Set Up US$ 600 mln JV with Chinese Steelmaker HBIS Group

SEOUL, June 25 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Friday it has signed a deal with HBIS Group, China’s second-biggest steelmaker, to set up a US$600 million joint venture in China. Under the deal signed online between POSCO Chairman Choi Jeong-woo and Wang Lanyu, general manager of HBIS Group, the [...]

Thomas J. Kent Jr., Chairman & C.E.O. of Kent Global, LLC Forms a Joint Venture Partnership with Ray Timbul Manurung, Partner Jondaire Capital from Indonesia

Thomas J. Kent Jr., Chairman & C.E.O. of Kent Global, LLC Forms a Joint Venture Partnership with Ray Timbul Manurung, Partner Jondaire Capital from Indonesia

NEW YORK, June 8 (Korea Bizwire) — Kent Global LLC’s Chairman & C.E.O, Mr. Thomas J. Kent, Jr. announced today that a special joint venture with Mr. Manurung from Indonesia has been formed. Mr. Kent went on to say that this mutual alignment is both critical and strategic to the global expansion of Kent Global, [...]

SK Innovation, Ford to Form 6 tln Won EV Battery Joint Venture in U.S.

SK Innovation, Ford to Form 6 tln Won EV Battery Joint Venture in U.S.

SEOUL, May 20 (Korea Bizwire) — South Korean battery maker SK Innovation Co. and American automaker Ford Motor Co. will establish a 6 trillion won (US$5.3 billion) joint venture in the United States to produce batteries for electric vehicles, the two companies said Thursday. The two companies signed a memorandum of understanding on the joint [...]

Huber Signs Agreement to Acquire Remaining Stake in MAGNIFIN Joint Venture

Huber Signs Agreement to Acquire Remaining Stake in MAGNIFIN Joint Venture

ATLANTA, May 5 (Korea Bizwire) — On May 4, J.M. Huber Corporation (“Huber”) signed a definitive agreement with RHI Magnesita (“RHIM”) to acquire their 50% ownership stake in the companies’ 50/50 joint venture, MAGNIFIN Magnesiaprodukte GmbH & Co. KG (“MAGNIFIN”). This transaction is expected to close in the second half of 2021, pending regulatory approvals. [...]

LG, Luxoft Launch Joint Venture for Automotive Solutions

LG, Luxoft Launch Joint Venture for Automotive Solutions

SEOUL, March 12 (Korea Bizwire) — LG Electronics Inc. said Friday its joint venture with Swiss-based software firm Luxoft has been launched as the South Korean company eyes to expand its presence in automotive solutions. Their joint venture Alluto is headquartered in Santa Clara, California, and will provide solutions for digital cockpit, in-vehicle infotainment, passenger-seat [...]