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 [...]
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 [...]
RIYADH, SAUDI ARABIA, Aug. 20 (Korea Bizwire) — With less than two months to go, the Kingdom of Saudi Arabia is preparing to welcome the world to its state-of-the-art pavilion at Expo 2020 Dubai. At the Saudi Pavilion – the second largest after the UAE’s – visitors will experience the Kingdom’s rich past, vibrant present, [...]