SEOUL, Sept. 28 (Korea Bizwire) — South Korean brokerage firm Korea Investment & Securities Co. has signed a deal to form a joint venture (JV) company with a U.S. financial company within this year, seeking to broaden its inroads into the American financial market, the brokerage’s holding company said Wednesday. Korea Investment & Securities has [...]
SEOUL, July 14 (Korea Bizwire) — SK On Co.’s electric vehicle (EV) battery joint venture with Ford Motor Co. in the United States has formally set sail, the South Korean battery maker said Thursday, paving the way for SK’s new battery unit to accelerate its overseas push amid burgeoning EV demand. The official launch of [...]
SEOUL, June 3 (Korea Bizwire) — Lotte Chemical Corp., the petrochemical unit of South Korean conglomerate, said Thursday it will establish a joint venture with SK Gas Co., a liquefied petroleum gas (LPG) importer and distributor, for power generation with by-product hydrogen and hydrogen-powered transportation. The joint venture will be established in the third quarter of this [...]
SEOUL, May 24 (Korea Bizwire) — Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, is shutting down its joint venture with multinational pharmaceutical company AstraZeneca Plc., a company official said Tuesday, due to the suspension of the development of a biosimilar product. The move came two months after Samsung Biologics’ board approved [...]
SEOUL, March 20 (Korea Bizwire) — South Korea’s top carmaker Hyundai Motor Co. and China’s Beijing BAIC Motor will inject over 1 trillion won (US$825 million) into their joint venture to enhance the competitiveness of its electric car making amid sluggish sales, company officials said Sunday. They will increase the capital stock of Beijing Hyundai [...]
SEOUL, Jan. 19 (Korea Bizwire) — South Korea’s major power plant builder Doosan Heavy Industries & Construction said Wednesday it has signed a deal with Saudi Arabian Industrial Investments Co. and Saudi Aramco Development Co. to set up a joint venture to operate a US$940 million casting and forging plant. TWAIG Casting & Forging will [...]
SEOUL, Dec. 2 (Korea Bizwire) — South Korean chemical maker POSCO Chemical Co. said Thursday it has agreed with U.S. auto giant General Motors Co. to set up a joint venture for a key component for electric vehicle (EV) batteries and build a plant in North America. The cathode materials JV will begin production of [...]
SEOUL, Oct. 19 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. has signed a deal with global carmaker Stellantis N.V. to set up a joint venture to produce electric vehicle (EV) batteries, industry sources said Tuesday. Samsung SDI’s deal came a day after its domestic rival, LG Energy Solution Ltd., announced the signing [...]
SEOUL, Oct. 6 (Korea Bizwire) — SK E&S Co., the energy unit of South Korean conglomerate SK Group, said Wednesday it will team up with U.S. fuel cell maker Plug Power Inc. to make a foray into the Asian hydrogen market. The two companies struck a deal to establish a 51:49 joint venture company, nine [...]
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 [...]