Renault S.A. has partnered with a
South Korean association so it can work
with startups with advanced mobile technology expertise for the development of
Before setting up an "open innovation office" in South Korea next month, the French carmaker signed a memorandum of understanding (MOU) with the K-ICT Born2Global Centre, an organization set up under the Ministry of Science and ICT to foster startups, Renault Samsung Motors Corp.
"Korea, with a high automotive sales rate compared to population and advanced information technologies and environments, is the ideal test bed market for new technologies before launching them at the global level," Renault Group Executive Director Stephen Marvin said in a statement.
Through the MOU with the K-Global startup center, Renault will be able to discover promising companies that can work with Renault while providing active support so that they can enter overseas markets following validation in the domestic market, he said.
Global investment giant Goldman
Sachs has invested USD 30 million in
local bakery ingredients maker Sun-in
Co., amid the rapid expansion of the
Global credit rating agency Fitch
Ratings reaffirmed South Korea' sovereign credit rating at AA- with a stable
outlook. It is the fifth straight year for the
credit rating agency to keep Korea's sovereign debt rating at AA-.
The agency pointed out the escalating tensions in the region weighing on ratings but also stated that "strains on the Korean peninsula are not new, and have followed a familiar pattern of rise-and- fall cycles in the past."
It predicted the Korean economy to keep up the strong growth pace with GDP growth potential of 2.7 percent for 2017, 2.8 percent for 2018 and 2.6 percent for 2019.