S Korea s major companies investing nearly $40B to grab their share in the US market
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יונדאי טוסון החדשה: קפיצת מדרגה שוברת מוסכמות
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The South Korea-U.S. summit this week is expected to be accompanied by major investment in the U.S. by four of South Korea s largest conglomerates Samsung, SK, Hyundai Motors and LG.
More than 35 billion U.S. dollars of investment in total is projected in industries such as semiconductors and batteries.
As an unofficial business entourage, the groups officials have been heading to the U.S. from Wednesday ahead of the summit. Led by Vice Chairman Kim Ki-nam, Samsung Electronics is likely to reveal further details about its plans to inject some 17 billion U.S. dollars into its foundry business.
Plug Power Inc. (NASDAQ:PLUG),
FuelCell Energy (NASDAQ:FCEL),
Bloom Energy Corporation (NASDAQ:BE) and
Ballard Power Systems (NASDAQ:BLDP) were all up in triple-digits as a growing section of Wall Street punters including Bank of America declared that the industry had reached a tipping point and was finally ready to take off.
Meanwhile, the EU made major commitments to invest in green hydrogen.
But maybe Wall Street rushed its fences.
Hydrogen stocks have been stinking the place out this year, with the leading stocks down in double-digits at a time when their oil and gas peers have been soaring.