As POSCO Holdings announced its first quarterly earnings under new Chairman Jang In-hwa, control of business development speeds by business division has become a hot topic.The company has set an investment budget of about 10.8 trillion won for this year, but the amount is likely to be reduced. The p
Volvo Group Korea, a specialized excavator manufacturer, announced on April 24 that it has completed the construction of Asia’s first group battery pack production facility at its Changwon Plant in South Gyeongsang Province, South Korea.On April 23, Volvo Group Korea held a ceremony at the Changwon
SK hynix plans to invest 20 trillion won in Cheongju to expand its high-bandwidth memory (HBM) production capacity. This move is interpreted as an effort to maintain its leading position amid intensifying HBM competition.On April 24, SK hynix announced that its board of directors has approved the pr
The Korean construction industry is on edge due to the conflict between Israel and Iran and between Israel and Hamas, which has led to a decline in orders from the Middle East and concerns about lower profitability due to rising raw material prices. The Middle East is a big overseas market for Korea
Chinese electric multiple unit rapid transit cars, which dominated the U.S. electric rapid transit car market through price war, are being withdrawn from the market one after another due to safety issues and rising costs. Hyundai Rotem, which has struggled due to the price war, is aggressively pursu
The author is an analyst for Shinhan Securities. She can be reached at sunmi.kim@shinhan.com -- Ed.Strong top-line drives earnings surprise & annual forecast revisionHyundai Engineering & Construction posted sales of KRW8.5tr and operating profit of KRW250.9bn for 1Q24, beating consensus estimates b
Korea Hydro & Nuclear Power (KHNP) and Électricité de France (EDF) are vying for a contract to build nuclear power plants in the Czech Republic, which are estimated to be worth at least 30 trillion won. If KHNP wins the order, it will mark the first nuclear power export from South Korea in 15 years
The number of affiliates belonging to Korea’s conglomerates crossed 3,000 for the first time in 2023. The increase is the result of business diversification in response to an unstable global business environment, but the increase has generated many negative side effects.As of May 2023, the number of
In the first quarter of this year, Korea’s exports to the United States surpassed those to China for the first time since the second quarter of 2003.Exports to the U.S. are expected to remain strong for the foreseeable future, driven by foreign direct investment (FDI) in the manufacturing industries
After years of double-digit growth, the global electric vehicle market is entering a chasm, considered to be a slowdown in demand just before mass adoption. Global automakers that have been aggressively investing to expand their electric vehicle lineups are scrambling for survival by making use of a
The water industry is generally defined as the business of producing and supplying potable water and industrial water needed for households and industries, as well as transporting and treating wastewater. The water industry is expected to steadily grow due to factors such as worsening water scarcity
On the night of April 13 (local time), Iran launched retaliatory attacks against Israel, employing drones, cruise missiles, and ballistic missiles. This action is expected to lead to an escalation in international oil prices. In addition, the exchange rate of the Korean won against the U.S. dollar r
In a case brought by the U.S.-based hedge fund Mason Capital Management against the South Korean government through the Investor-State Dispute Settlement (ISDS) system, it has been ruled that the South Korean government must compensate it 43.8 billion won (US$31.97 million). The ruling has partially
Samsung Electronics plans to increase its semiconductor investment in Taylor, Texas, to US$44 billion, as reported by The Wall Street Journal (WSJ) on the April 5 (local time). Two years ago, Samsung announced a US$17 billion investment in the same area to build a state-of-the-art semiconductor manu
LG Energy Solution is investing 7.2 trillion won to build a battery production plant in Arizona in the U.S. This investment represents the largest single battery plant investment in history. Despite concerns about a “chasm” in the electric vehicle market, which refers to a temporary slowdown in mass
As Taiwan, located on the “Ring of Fire” in the Pacific Ocean, faces its strongest earthquake since the “921 Earthquake” of 1999, concerns about the spread of the damage are growing.Taiwan, a leading nation in advanced semiconductor production, is in the spotlight due to production disruptions at TS
At the 47th regular shareholders’ meeting held on March 28, Ssangyong Engineering & Construction announced that it achieved a profitability turnaround in 2023 as it approved the financial statements for the year.In the 2023 fiscal year, the company achieved sales of 1.44 trillion won (US$1.06 billio
Samsung Display saw its market share for smartphone Organic Light-Emitting Diode (OLED) panels fall below 50% for the first time last year, facing intense competition from Chinese manufacturers. The surge in market share for companies like BOE, which have secured exclusive supplies for Chinese smart
As large offshore wind power projects are being actively pursued in South Korea, it is estimated that investments could reach up to 100 trillion won by 2030.According to the Ministry of Trade, Industry and Energy, the government aims to deploy offshore wind power facilities with a total capacity of
According to sources in the shipping industry on March 28, Gemini Cooperation, a shipping business alliance between the world’s No. 2 shipping company Maersk and No. 5 Hapag-Lloyd to go live in February next year has proposed a plan to exclude Busan Port of South Korea and ports of Japan, Vietnam, a