SEOUL, Aug. 1 (Korea Bizwire) — Hyundai Engineering & Construction Co., South Korea’s No. 2 builder, said Tuesday it has bagged a US$145 million order to lay power transmission lines in Saudi Arabia. The deal, signed with a Saudi state power company, calls for building 207 kilometers of a 525-kilovolt, 605-km transmission line between Saudi [...]
RIYADH, Saudi Arabia, June 22 (Korea Bizwire) — The Kingdom of Saudi Arabia has made exceptional progress in the 2023 IMD World Competitiveness Yearbook rankings. From 2022 to 2023, the Kingdom advanced from 24th to 17th rank, marking a tremendous leap in its global standing. According to the yearbook, six of the twelve capital market indices [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korean builder Samsung C&T Corp. will build modular homes in Saudi Arabia, the land and transport ministry said Wednesday. Land Minister Won Hee-ryong on Tuesday held a meeting with Yasir bin Al-Rumayyan, Governor of the Public Investment Fund (PIF), in Saudi Arabia with both parties signing a memorandum [...]
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, Nov. 17 (Korea Bizwire) — Business leaders of South Korea and Saudi Arabia discussed ways Thursday to deepen their economic partnership, citing climate change, space technology and bio as new areas the two sides can cooperate on as future investment. The two nations’ governments and companies also signed some 20 memorandums of understanding (MOUs) [...]
RIYADH, Saudi Arabia, Oct. 17 (Korea Bizwire) — Noor Riyadh, the groundbreaking annual festival of light and art, will launch on November 3, 2022 (until 19 November 2022), accompanied by a 3-month art exhibition (November 3, 2022 – February 4, 2023) and dynamic public program. Following the success of the festival’s inaugural edition in 2021, [...]
HONG KONG, May 18 (Korea Bizwire) – Teksbotics is a Hong Kong-based autonomous driving solution provider. The company assists its customers to automate their transportation, delivery and patrol jobs. In this project, Teksbotics is partnering with its Saudi Logistic Partner - Alshrouq Express, which is one of the best last-mile delivery companies serving Amazon.com and Noon.com. In this pilot project, a purpose-built [...]
SEOUL, March. 11 (Korea Bizwire) — Saudi Arabia’s sovereign wealth fund has increased its stake in NCSOFT Corp. to become the second-largest shareholder, according to a regulatory filing Friday. Public Investment Fund (PIF) acquired an additional 563,566 shares of the major South Korean online and mobile game developer for around 290 billion won (US$240 million) [...]
HONG KONG, Jan. 27 (Korea Bizwire) — Driverless delivery vehicle jointly built by Teksbotics (Asia) Limited (hereinafter referred to as “Teksbotics”) and UISEE was recently launched and piloted in the community of King Abdullah University of Science and Technology, Saudi Arabia, for “Last mile” autonomous delivery service. The driverless delivery vehicle project aims to connect with local online [...]
SEOUL, Jan. 19 (Korea Bizwire) — South Korea’s top steel maker POSCO and construction company Samsung C&T Corp said Wednesday they signed an agreement with Saudi Arabia’s sovereign wealth fund on green hydrogen production. Under the deal, the two companies will join hands with Public Investment Fund (PIF) to start a project in Saudi Arabia [...]