With South Korea’s manufacturing investments shifting from the western to the eastern United States, there’s a growing need to establish logistics infrastructure like port terminals on the U.S. East Coast to mitigate logistics risks.According to the report titled “Changes in Import-Export Logistics
Macrogen, a global genome analysis company, has officially started building the largest Global Genome Center in Asia.The Incheon Free Economic Zone Authority announced that Macrogen held a groundbreaking ceremony on April 24 at the Advanced Industry Cluster in Songdo International City, Zone 5, for
SALTRAIN, a lifestyle brand offering various products closely related to our daily lives based on domestic premium gray salt(one of the finest sea salt from tidal flats), meets Toy Story | TinyTAN characters.'TinyTAN' are characters representing the seven members of BTS in adorable form. Through thi
Korean shipbuilding stocks have been rallying as expectations grow that the Korean shipbuilding industry will enjoy reflective benefits from US sanctions against China.According to the Korea Exchange on April 23, Hanwha Ocean closed at 34,750 won (US$25.35), down 2550 won, or 7.92 percent, from Apri
It has emerged that the domestic battery industry, which received trillions of won in tax deductions in the United States last year, might need to pay nearly 200 billion won in additional taxes by 2026 due to the implementation of a global minimum tax. Battery companies are currently investing in th
The author is an analyst for Shinhan Securities. He can be reached at ldh@sinhan.com -- Ed.1Q24 review: OP of engines surpasses construction equipmentHD Hyundai Infracore posted sales of KRW1.16tr (-10% YoY), operating profit of KRW92.8bn (-39% YoY), and operating margin of 8% (-3.8%p YoY) for 1Q24.
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
Korean appliances are making strides in Europe, one of the world’s most conservative markets. Although the European market is known for its traditional preferences, Korean companies have carved out a strong presence by adopting tailored strategies that cater to local tastes.Last year, LG Electronics
SK On, the battery business subsidiary of SK Innovation, announced today its Cobalt-free battery has won a Bronze award in the Smart Transportation category at the prestigious 2024 Edison Awards on April 18.The latest honor not only shows SK On's technological prowess but also underscores the compan
Seoul is considering establishing an international school in the international financial center of Yeouido in Seoul. The idea is to create a comfortable environment for foreigners to live in Seoul in order to attract more overseas investment.The Seoul Metropolitan Government will launch a service to
The opposition party’s landslide victory in the 22nd general election is expected to disrupt the Korean government’s planned new trade strategy. A plan to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which requires parliamentary approval, is likely to be pus
On April 18, the KOSPI rebounded by nearly 2 percent, reclaiming the 2,600 level in just one day. The value of the Korean won and government bonds also rose. This was attributed to the somewhat calming effect on the U.S. dollar’s strength thanks to the joint verbal intervention by the finance minist
On April 17, Chairman Shin Dong-bin of Lotte Group visited the Lotte Energy Materials’ smart factory in Kuching in the state of Sarawak in Malaysia to inspect the secondary battery material business and engage with local employees.Since 2019, Lotte Energy Materials has been producing copper foil in
The Biden administration is likely to grant Hanwha Q CELLS’ request to impose tariffs on bifacial solar panels imported into the United States, according to sources cited by Reuters on April 17. On Feb. 23, Hanwha Q CELLS formally petitioned the United States Trade Representative (USTR) to revoke th
Kwak Noh-jung, president of SK hynix, has emphasized the dangers of concentrating semiconductor supply chains in specific regions, highlighting the importance of cooperation between South Korea and the United States. His remarks came after disruptions in semiconductor production due to COVID-19 and
Jo Joo-wan, the CEO of LG Electronics, is set to meet with Microsoft’s CEO Satya Nadella to discuss the artificial intelligence business. Following Meta, LG Electronics is establishing AI collaboration relations with global “Big Tech” firms preparing for future ventures.According to sources in the c
Hanon Systems, a leading global automotive thermal management supplier for electrified mobility, has been named a GM Supplier of the Year in General Motors’ 32nd annual Supplier of the Year awards in Miami, Florida.A global, cross-functional team at GM recognized 86 of its best suppliers for perform
The collective net worth of Korea’s 50 Richest on the 2024 Forbes list rose slightly to US$115 billion from $106 billion, amid the country’s global chipmaking ambitions. The complete list can be found at www.forbes.com/korea, as well as in the April/May issue of Forbes Asia and the May issue of Forb
The amount of short-term foreign currency borrowings hastily acquired by banks alone has exceeded 4 trillion won. With the won-to-dollar exchange rate surpassing 1,400 won and reaching new highs, the risks associated with short-term foreign currency debts have also increased.According to business di
The finance ministers of South Korea and Japan jointly announced that they could take appropriate measures to address recent volatility in the foreign exchange markets, signaling a readiness for “verbal intervention.” It appears that South Korea and Japan are joining hands to engage in a “currency w