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SK Innovation, Ford to Invest 13 tln Won to Build Three U.S. Battery Plants

SK Innovation, Ford to Invest 13 tln Won to Build Three U.S. Battery Plants

SEOUL, Sept. 28 (Korea Bizwire) — South Korean battery maker SK Innovation Co. and American automaker Ford Co. said Tuesday they will invest 13 trillion won (US$11 billion) to build three electric vehicle batteries in the United States by 2025. A joint venture between the two companies, called BluOvalSK, will build an assembly and battery [...]

CPP Investments and ESR Upsize Joint Investment in Korea Income JV to US$1 Billion

CPP Investments and ESR Upsize Joint Investment in Korea Income JV to US$1 Billion

SEOUL, SOUTH KOREA/HONG KONG SAR, April 22 (Korea Bizwire) – Canada Pension Plan Investment Board (“CPP Investments”) and ESR Cayman Limited (“ESR”; SEHK Stock Code: 1821) today announced an expansion of their Korea Income Joint Venture (“Korea Income JV”). CPP Investments and ESR will collectively upsize their investment in the vehicle by a further US$500 [...]

Hyundai JV, Lyft to Launch Driverless U.S. Robotaxi Services in 2023

Hyundai JV, Lyft to Launch Driverless U.S. Robotaxi Services in 2023

SEOUL, Dec. 17 (Korea Bizwire) — Motional, the Hyundai Motor-Aptiv joint venture, said Thursday it has partnered with U.S. ride-sharing firm Lyft Inc. to launch driverless robotaxi services in major U.S. cities in 2023. Motional said it plans to deploy fully autonomous vehicles, which are based on the Korean automaker Hyundai Motor’s platform, in Lyft’s [...]

LG Chem to Invest 239.4 bln Won in Joint Ventures with Chinese Firm

LG Chem to Invest 239.4 bln Won in Joint Ventures with Chinese Firm

SEOUL, Apr. 11 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals company, said Wednesday that it has decided to invest 239.4 billion won (US$224.8 million) in two separate joint ventures with Huayou Cobalt Co., a Chinese supplier of the mineral. The deal underscored LG Chem’s efforts to secure a stable supply of cobalt, [...]

Lotte Chemical Completes Gas Plant in Uzbekistan

Lotte Chemical Completes Gas Plant in Uzbekistan

SEOUL, Oct. 15 (Korea Bizwire) — Lotte Chemical Corp., the petrochemical unit of South Korea’s No. 5 conglomerate Lotte Group, said Thursday it has completed the construction of a gas chemical complex in Uzbekistan, a major overseas project it has pursued as part of an effort to diversify profit sources.   The joint development project, dubbed [...]