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 [...]
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 [...]
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, [...]
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 [...]
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. [...]
SEOUL, March 24 (Korea Bizwire) — Shareholders of LG Electronics Inc. on Wednesday approved the company’s plan to split off some of its electric vehicle (EV) components business to set up a joint venture (JV) with Canadian auto parts maker Magna International Inc. The shareholders passed LG’s proposal to carve out the EV powertrain business [...]
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 [...]
SEOUL, March 1 (Korea Bizwire) — South Korea’s leading internet portal Naver Corp. and Japanese telecom giant Softbank Corp. have completed a merger of their subsidiaries to tap deeper into the Japanese market with a wide range of services, their joint venture said Monday. Japanese chat app operator LINE, affiliated with Naver, and Softbank’s internet [...]
SEOUL, Feb. 10 (Korea Bizwire) — South Korea’s corporate watchdog said Wednesday it has approved a move by SK Telecom Co.’s mobility spinoff to launch a taxi-hailing joint venture with Uber Technologies Inc. T Map Mobility, wholly owned by SK Telecom, the country’s biggest mobile carrier, plans to set up a taxi-hailing joint venture with [...]
SEOUL, Jan. 12 (Korea Bizwire) – LG Electronics Inc. is “well positioned” to become one of the industry’s leaders in the area of electric and connected vehicles with its agreement to set up a joint venture with Canadian auto parts maker Magna International Inc., the company’s chief executive said. Brian Kwon, the CEO of LG [...]