SEOUL, Aug. 24 (Korea Bizwire) — South Korean shipbuilders are bolstering their research and development (R&D) investments to secure a larger stake in upcoming markets, such as environmentally friendly vessels and autonomous ships. According to industry data, the three leading shipyards of the country invested 125.6 billion won (US$94.6 million) in R&D during the first [...]
SEOUL, Aug. 13 (Korea Bizwire) — SK Telecom Co., South Korea’s largest wireless carrier, said Sunday it will invest US$100 million in the U.S. artificial intelligence (AI) company Anthropic in a partnership deal to expand its footprint in the AI sector. Anthropic is a San Francisco-based AI safety and research company, with products like the [...]
SEOUL, Aug. 10 (Korea Bizwire) — LS Cable & System Ltd., South Korea’s leading wire and cable maker, said Thursday it will invest about 155.5 billion won (US$118 million) over the next two years to expand its submarine cable plant. The expansion of the factory in Donghae on the east coast is designed to meet [...]
SEOUL, Aug. 3 (Korea Bizwire) — LG Electronics Inc. said Thursday it will join hands with U.S. investment firm Clearbrook LLC to raise more than US$100 million to invest in industries of the future, including digital health, renewable energy and artificial intelligence. The South Korean tech company said its North American Innovation Center (LG NOVA) [...]
SEOUL, Aug. 3 (Korea Bizwire) — Hyundai Motor Group said Thursday it will invest US$50 million in Canadian artificial intelligence (AI) semiconductor startup Tenstorrent as it seeks to integrate AI into its future mobility solutions. Hyundai Motor Co. and its smaller affiliate Kia Corp. will invest $30 million and $20 million, respectively, in Tenstorrent as [...]
SEOUL, July 25 (Korea Bizwire) — The Seoul Metropolitan Government has announced a comprehensive plan to cultivate the robot industry, investing 202.9 billion won (US$157 million) to transform the city into a robot-friendly environment. To achieve this, the city government aims to establish a 200 billion won special fund for robot companies by 2026. This [...]
SEOUL, July 16 (Korea Bizwire) — Lotte Energy Materials Corp. said Sunday it has signed a deal to make a 7.9 billion-won (US$6.2 million) equity investment in a French electric vehicle battery materials startup as part of its plans to enter the next-generation silicon anode market. In an investment agreement signed Friday, Lotte Energy Materials, [...]
SEOUL, July 13 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker by sales, said Thursday it will invest US$200 million to produce the all-electric EV9 SUV in its U.S. plant next year. The flagship EV9 will be the first EV for Kia to be assembled in the United States, the company said in a [...]
SEOUL, July 13 (Korea Bizwire) — Samsung C&T Corp., the construction unit of Samsung Group, said Wednesday it has made an equity investment of US$7.5 million in CarbonCure, a Canadian carbon dioxide removal tech company. Along with the investment, the two companies have also signed a business agreement. Founded in 2012, CarbonCure has developed a [...]
SEOUL, July 4 (Korea Bizwire) — South Korean battery makers are focusing on attracting funds to advance technology and expand production capacity. LG Energy Solution Ltd. has decided to issue corporate bonds worth 1 trillion won (US$768 million) for the first time since its establishment, according to industry sources. The company doubled the initially suggested [...]