To secure talents in AI and IoT
Biolog Device said on Friday that it will inject an additional 1.75 billion won into Hivics, which it has acquired last month.
The added funds will be used by Hivics to hire doctorate engineers specializing in electric cars, autonomous cars, AI and IoT, Biolog Device said.
Hivics will also hire more people for its existing main OLED business.
Biolog Device was also considering moving Hivic’s lab closer to its own headquarters at Gwanggyo.
Biolog Device spend the investment is being done with a long-term view and Hivics will develop various system semiconductors for AI, VR, AR and MR applications, the company said.
Last month, Biolog Device acquired a 58.75% stake in hivics for 4.48 billion won.
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