The government plans to invest 500 billion won over the next five years in five additional specialized complexes for materials, parts, and equipment, aiming to develop them into core bases for the supply chain. Space, aerospace, defense, and hydrogen are newly added as strategic technology sectors,
This March, Four Seasons Hotel Seoul takes centre stage as an official partner of the prestigious Asia’s 50 Best Restaurants 2024, which comes to the Korean capital for the first time. Securing its place as a gastronomic hotspot in the city’s thriving culinary scene, the contemporary Gwanghwamun hot
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.HIFU equipment exports from Gangnam-gu, Seoul to Brazil rebounded in February. Gangnam-gu’s aesthetic consumables and RF equipment exports continue to level up. Aesthetic equipment exports from Yuseo
Despite a slowdown in electric vehicle (EV) demand, Panasonic, a Japanese battery company, is considering further investment in its De Soto, Kansas, factory in the United States to increase production capacity for the 4680 cylindrical battery, which has five times the energy capacity of existing bat
The Ministry of Trade, Industry and Energy plans to inject 100 billion won into companies in advanced strategic industries and key supply chain sectors that are returning (U-turn) to Korea this year. This marks a 75% increase from the previous year. The corporate tax reduction period will be extende
The Food and Drug Administration announced on Jan. 3 that it is currently suspending sales and recalling the Orion food company’s popular “Custard” snack after detecting food poisoning bacteria in the product. Custard is considered to be one of Orion’s signature products alongside Choco Pies.Accordi
Key Foundry, an 8-inch pure-play foundry semiconductor company acquired by SK hynix, announced on Dec. 3 that it has changed its name to SK keyfoundry.The updated company name has been in use since Jan. 1, following a recent shareholder meeting approval. SK keyfoundry also completed domestic and int
This summer, the country has seen an unusually high number of landslides due to concentrated heavy rainfalls. In 2023, the nationwide damage from landslides amounted to 2,410 cases with 458 hectares of land lost, resulting in 15 fatalities. Business Korea had a detailed conversation with Choi Byeong
To commemorate SK hynix’s 40th anniversary on October 10, SK hynix President and CEO Kwak Noh-Jung laid out the company’s vision. “We will transform semiconductor memory, which has generally been considered as a commodity product1, into customized specialty solutions through continued innovations,”
Major Korean petrochemical companies have been downsizing or selling off their film businesses, which were once significant business areas. This is because they find themselves in a situation where they cannot sell their products at fair prices, as China has increased production with low-priced prod
Chinese battery companies have been pushing to establish factories in South Korea one after another. It is a strategy to circumvent regulations under the U.S. government’s Inflation Reduction Act (IRA), analysts say. It is expected that the companies will try to enter the U.S. and European markets b
Since December last year, the global frenzy over the generative AI known as ChatGPT has rapidly increased the demand for high-performance DRAM, also called High Bandwidth Memory (HBM), capable of processing large-scale data.According to sources in the semiconductor industry on July 31, domestic memo
Continuing their struggle, both Samsung Electronics and SK hynix faced losses in the second quarter, following their challenging performance in the first quarter. The cumulative deficit for both companies in the first half of this year reached a substantial figure, nearly approaching 15 trillion won
The government has designated seven specialized complexes for the nation’s advanced strategic industries such as semiconductors, secondary batteries, and displays. In addition to this, five specialized complexes for materials, parts and equipment have also been newly designated to focus on five othe
The Korean battery industry will accelerate its planned investment of 30 trillion won by 2030 as the Korean government designated Cheongju, Pohang, Saemangeum and Ulsan as specialized secondary battery clusters on July 20. It expects the clusters to create a domestic battery ecosystem value chain an
Korean separator companies are expected to dominate the North American and European battery markets, according to a market research firm.SNE Research, a global market research firm, released a report titled “The Future of Separators in the Era of Lithium-Ion Batteries (LIBs).” In the report, SNE Res
LG Chem announced on July 12 that it has completed the issuance of US$2 billion worth of foreign currency exchangeable bonds (EBs).The previous day’s demand collection to investors in Asia and Europe attracted more than US$10 billion from more than 150 investors and institutions. The amount was more
The author is an analyst for NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.In the wake of the release of the results of an investigation into GS E&C's Geomdan (Incheon) apartment complex collapse, major construction players’ share prices have been pushed down. With t
LG Chem said on June 26 that it has started mass production of high-nickel single-crystal cathode materials for next-generation batteries at its Cheongju Cathode Material Plant in North Chungcheong Province in Korea.Single-crystal cathode materials are made of several metals such as nickel, cobalt,
POSCO Future M signed a contract with LG Energy Solution to supply cathode materials worth more than 30 trillion won. It raised the amount of orders to POSCO Future M to over 90 trillion won. Experts forecast that POSCO Future M will continue to grow through aggressive order-taking activities. The c