SEOUL, Sept. 27 (Korea Bizwire) – Samsung SDI Co. will spend US$1.97 billion on its second battery manufacturing facility it is building in the United States jointly with Stellantis N.V., the South Korean battery maker said in a filing Wednesday. The disclosure came about two months after their U.S. venture, StarPlus Energy, announced a plan [...]
SEOUL, Sept. 21 (Korea Bizwire) —SK Chemicals is contemplating the potential sale of its pharmaceutical business to Glenwood Private Equity (PE), a private equity fund manager. In response to a disclosure request from the Korea Exchange regarding Glenwood PE’s proposed acquisition of SK Chemicals’ pharmaceutical business unit, SK Chemicals stated, “We are in the process [...]
SEOUL, Sept. 12 (Korea Bizwire) – Samsung Electronics Co. said Tuesday it will invest US$1 million in Texas A&M University’s education and recruiting programs meant to nurture talent in the semiconductor sector. The South Korean chip giant signed the partnership with the engineering school last week in an effort to secure talent for its semiconductor [...]
SEOUL, Aug. 17 (Korea Bizwire) — South Korea’s major pharmaceutical firm Cellltrion Inc. said Thursday it will merge with its sales and marketing affiliate Celltrion Healthcare Co. in a bid to become a global drugmaker by streamlining its key operational structure. The company said in a regulatory filing that the merger is aimed at growing [...]
SEOUL, Aug. 7 (Korea Bizwire) — An increasing number of game developers are embracing the strategy of “soft launches,” wherein they release games in a limited number of countries prior to the official launch. In contrast to beta testing, soft launches incorporate revenue-related elements like paid subscriptions, and the data remains intact post the official [...]
SEOUL, Aug. 3 (Korea Bizwire) — Three major South Korean battery makers saw their market share fall in the first half of the year from a year earlier despite solid growth, as bigger Chinese rivals further expanded their overseas foothold, a report said Thursday. The combined market share of the three — LG Energy Solution [...]
SEOUL, Aug. 1 (Korea Bizwire) — Unlike in the past, when foreign carmakers mainly released high-priced electric vehicles (EVs) in the Korean market, they are now launching a string of new models with lower prices and improved performance to increase the potential for subsidies. The competition was ignited by U.S. electric vehicle maker Tesla Inc.’s [...]
SEOUL, April 7 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., achieved a surplus in the previous year, thanks to a combination of factors such as high exchange rates, increased exports, cost-cutting measures, strong pricing, and expanded semiconductor availability. At a recent management briefing session held by GM Korea, [...]
SEOUL, March 13 (Korea Bizwire) — Hyundai Motor Co., South Korea’s leading carmaker, said Monday it is in the process of acquiring General Motors Co.’s car manufacturing facility in India. Hyundai Motor has signed a term sheet with GM to take over the U.S. carmaker’s Talegaon plant in Maharashtra, the company said in a statement. [...]
SEOUL, Feb. 15 (Korea Bizwire) — Samsung Electronics plans to borrow more than US$15 billion from its display-making subsidiary to secure operational costs, the company has said. The South Korean tech giant said in a regulatory filing on Tuesday that it will borrow 20 trillion won (US$15.78 billion) from Samsung Display at an interest rate [...]