The U.S. government is demanding confidential information and data from Samsung Electronics and SK Hynix in exchange for subsidies.According to some industry sources, the companies are likely to follow the United States in the end as cooperation with it in the industry is essential and they are goin
The South Korean Supreme Court's final ruling in 2019 in favor of those forced to labor during the Japanese occupation led to a serious deterioration of Korea-Japan relations.To improve relations with Japan despite public opposition, President Yoon Suk-yeol formulated a proposal for third-party
Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won are expected to visit the United States next month to accompany President Yoon Seok-yul during the KORUS summit scheduled for April 26.This month, Lee visited China after nearly three years to attend the 2023 China Developm
Hyundai Motor Group is trying to minimize the impact on itself of the U.S. Inflation Reduction Act, which is to limit U.S. electric vehicle (EV) subsidies to those supplied from North America. At present, the group’s EVs for the U.S. market are produced in South Korea without exception and those can
Federation of Korean Industries Chairman Huh Chang-soo recently sent a letter to U.S. President Joe Biden to express his concerns over the impact of the Inflation Reduction Act on South Korean automakers.“The act has seriously discriminatory elements that will slow down the growth of the EV industry
Trade, Industry and Energy Minister Lee Chang-yang remarked on Aug. 29 that the U.S. Inflation Reduction Act is likely to be a violation of KORUS FTA and WTO rules and the South Korean government is planning to bring it to the WTO if necessary.The act is to limit EV subsidies to those assembled in N
The Korea Institute of Nuclear Safety and the Nuclear and Radiological Regulatory Commission of Saudi Arabia have recently signed a US$2.32 million contract.The purpose of the contract is to share the institute’s research reactor technology with the commission. In Saudi Arabia, a 30 KW research reac
The Office of the United States Trade Representative emailed the Ministry of Trade, Industry and Energy on April 22, immediately after a network usage fee-related bill was discussed at the National Assembly, to claim that the bill may lead to a trade conflict.“The office enumerated the potential ris
U.S. President Joe Biden is expected to have a meeting on May 21 with the heads of Samsung Electronics, SK Group, Hyundai Motor Group and LG Group. In addition, he is likely to visit Samsung Electronics’ semiconductor plant in Yongin on May 22. The economic alliance of the United States and South Ko
Acting U.S. Ambassador to South Korea Christopher Del Corso remarked on March 15 that the U.S. government and the new government of South Korea will work together even more closely to further improve global trade environments.He attended the ceremony held in Yeouido in the morning of March 15 to com
The KORUS FTA commemorated its 10th anniversary on March 15. Last year, South Korean automakers’ U.S. market share was 10 percent and South Korea’s automobile, auto parts, semiconductor, computer and petroleum product exports to the United States increased without exception. For the past 10 years, S
The Hankook Korus Consortium, which is to produce 500 million doses of the Sputnik V vaccine, is showing signs of breaking up after Russia requested a change from the production of those for the first vaccination to the production of those for the second vaccination, which is less profitable.CKD Bio
South Korean Trade Minister Yeo Han-koo had a meeting with U.S. Trade Representative Katherine Tai in Seoul on Nov. 19 and said on Nov. 22 that they discussed South Korea’s role in the United States’ new economic framework in the Indo-Pacific region.At present, the United States is expanding its coo
Janssen is expected to entrust COVID-19 vaccine production to South Korea like AstraZeneca and Moderna. GC Pharma announced on Sept. 29 that it would make a public announcement on the matter on Oct. 28.Late last month, it was reported that GC Pharma and Janssen were discussing a COVID-19 vaccine pro
The Korea-America Association, the Korea Industry Alliance Forum, the Korea Chamber of Commerce and Industry, the American Chamber of Commerce in Korea, and the Korea Federation of SMEs held an industrial cooperation conference on Sept. 27.There, participants stressed the importance of mutual cooper
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. Spurred by the Covid-19 crisis, Samsung Biologics has successfully shortened the period from technology transfer to sales recognition. Going forward, we predict that this period will also be chopped
South Korean biopharmaceutical contract manufacturers’ Sputnik V vaccine production volume is forecast to exceed the latest estimate. This is because the WHO and the EMA are about to approve the Russian vaccine and the approvals are likely to lead to a substantial increase in demand.According to mar
People Power Party lawmaker Ku Ja-keun remarked on May 30 that relatively cheaper domestic cars entail more car taxes than relatively more expensive imported cars. “The car tax on the Hyundai Grandeur is 649,000 won a year whereas that on the BMW 5 Series is 519,000 won,” he pointed out. The prices
Korea is positioning itself as a global hub for COVID-19 vaccines. Currently, a total of 14 Korean pharmaceutical companies are involved in producing five kinds of COVID-19 vaccines.The CEOs of Samsung BioLogics and Moderna attended a Korea-U.S. vaccine partnership event held in Washington, D.C. on
South Korea and the United States are expected to expand their cooperation in the advanced manufacturing sector after the first summit between Presidents Joe Biden and Moon Jae-in. Samsung, Hyundai Motor, LG and SK Groups are planning to invest 44 trillion won in the United States.Specifically, Sams