As global electronic component companies that manufacture Multi-Layer Ceramic Capacitors (MLCCs) seek breakthroughs by expanding their automotive MLCC businesses amid ongoing smartphone demand slumps, Samsung Electro-Mechanics, a leading South Korean MLCC company, is focusing its investments on the
Daewoo E&C and CCCC Tianjin Dredging China signed a business agreement for an exclusive domestic use of the offshore wind turbine installation vessel (WTIV) Gang Hang Ping 5 at the Grand Hyatt Shanghai Hotel in Pudong, Shanghai of China on Jan. 31 (local time).Prior to the signing ceremony, on Jan.
Hyundai Wia announced on Jan. 24 that it signed contracts to supply a total of 1.450 trillion won (US$1.086 billion) worth of constant velocity joints with European and North American automakers in 2023.Constant velocity joints are core parts of automobiles that transmit power generated by motors or
A fire broke out at SK on’s electric vehicle battery factory in China, which was in the process of preparing for operation.According to SK on on Nov. 21, a blaze erupted at the company’s second factory in Yancheng, Jiangsu Province, China. The facility was in the midst of preparations for operation,
Kia’s Chinese joint venture is grappling with the challenge of “complete capital erosion,” struggling to break free from the quagmire. In this situation, local car sales remain sluggish, and with expenses continually increasing, the scale of debt has grown further.According to Kia’s quarterly report
Samsung Heavy Industries has completed the shutdown of its local production subsidiary in China, Samsung Heavy Industries Ningbo Co., Ltd. This move comes as cost competitiveness in China has weakened due to reduced productivity and rising labor costs, eliminating the need for manufacturing faciliti
The Chinese government has decided to virtually fully permit overseas group travel for its citizens for the first time in over three years since the onset of the COVID-19 pandemic. Consequently, Chinese group tourism to South Korea will resume after more than six years, unlocking the travel restrict
LG Energy Solution announced on August 8th that it has established a joint venture with Huayou Cobalt Co., China's top cobalt producer, creating the first Sino-Korean battery recycling company in China. The contract signing ceremony for the joint venture was held at Huayou Cobalt Co.’s headquart
SK ecoplant, together with its subsidiary TES-AMM specializing in recycling waste batteries, will build a waste battery recycling facility in China, the world's largest producer of electric vehicle batteries, to expand its business base in China.SK ecoplant recently announced that it has signed
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed.In the early hours of Mar 13, a fire at Hankook T&T’s Daejeon plant shut down production lines. For the time being, the company can sustain shipments by tapping into inventory. The impact of the fire will d
Industrial Bank of Korea (IBK) Suzhou branch in China was fined for violating China’s foreign exchange regulations.On Dec. 28, Jiangsu Province authorities confiscated 299.04 yuan of illegal income from the Suzhou branch of IBK in China for failing to submit financial accounting reports and statisti
China is rising fast in the liquefied natural gas (LNG) carrier market, which is dominated by Korean shipbuilders. As dockyards of Korean shipbuilders are fully booked, Chinese shipbuilders are winning orders that Korean companies cannot take.Chinese shipbuilders took orders for 45 LNG carriers betw
Jiangsu Yueda Kia, Kia Corp.'s subsidiary in China, fell into a state of complete capital impairment at the end of the third quarter of this year. The company is in a dire need to receive support funds again in nine months since its first complete capital erosion at the end of 2021. Analysts say
Chinese shipbuilders are winning a growing number of orders in the liquefied natural gas (LNG) carrier market, the stronghold of Korean shipbuilders. Some say this is a temporary phenomenon resulting from the full booking of Korean dockyards. But this may cause an oversupply of LNG carriers around t
The Korea Automobile Manufacturers Association announced on June 27 that Chinese automakers exported 969,000 cars for the first five months of this year, when South Korean automakers’ exports totaled 903,245. The former’s exports exceeded the latter’s for the first time in history.In 2018, China’s a
Kia Corp. will break up with its joint venture partner in China, Dongfeng Motor Corp., after 20 years of partnership.Dongfeng Motor, one of China’s four major state-run automobile groups, is producing automobiles in China under the Dongfeng Yueda Kia brand. Dongfeng Yueda Kia is a three-way joint ve
SK Group is seeking to appease the Chinese government after the United States put the brakes on its plan to bring in advanced semiconductor equipment to its Chinese plant.Seo Jin-woo, the group's vice chairman in charge of its China business, met with Wu Zhenglong, governor of Jiangsu Province,
The ongoing U.S.-China hegemony war is threatening to shatter SK Hynix's plan to introduce extreme ultraviolet (EUV) lithography to its semiconductor plant in China.SK Hynix recently mapped out a plan to upgrade its DRAM plant in Wuxi, Jiangsu Province by introducing EUV lithography equipment fr
HLB announced on Nov. 8 that its oral cancer drug candidate "Rivoceranib" has been designated as an orphan drug for liver cancer treatment by the U.S. Food and Drug Administration (FDA) on Nov. 4.The FDA operates the Orphan Drug Designation (ODD) program to support the development of orphan drugs.Or
SK On, a battery subsidiary of SK Innovation that is speeding up the development of lithium iron phosphate (LFP) batteries, has decided to produce pouch-type LFP batteries.LFP batteries are mainly produced by China's CATL and BYD, and these companies specialize in the prismatic type. Jumping int