Round eight of this season’s ABB FIA Formula E World Championship in the principality of Monaco is the next highlight for the Hankook iON Race. On the 27th of April, the spotlight in the second-smallest country in the world will be on the fully electric racing series. The 3.337-kilometer circuit, wh
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
Tension was palpable in front of Samsung Electronics’ DSR Tower in Hwaseong, Gyeonggi Province at noon on April 17. It marked the first collective action in the history of Samsung, initiated by the National Samsung Electronics Union (National Samsung Union), with an event named “Gather 1,000.” The o
Samsung Electronics’ largest labor union opposed wage negotiation issues has secured the right to go on strike backed by overwhelming support in a member vote, sowing the seed of the first strike in the company’s history.On April 8, Samsung Electronics’ largest union, the Nationwide Samsung Electron
South Korea’s current account surplus has been in the black for 10 consecutive months as the South Korean semiconductor industry has recovered. The main positive factor is that the nation’s current account surplus is expected to continue as demand for semiconductors will grow this year.According to
Governor Eric J. Holcomb, Secretary of Commerce David Rosenberg and Purdue University President Mung Chiang joined federal partners and executives of South Korea-based SK hynix Inc., the world’s leading producer of High-Bandwidth Memory (HBM) chips, today as the company announced plans to establish
As the polarization of wages between employees of large and small companies has become a big social issue amid concerns about low growth, attention has been focused on the wages of those at large companies rising rapidly every year.The Korea Enterprises Federation (KEF) has sent out recommendation l
Hyundai Motor Group announced on March 27 that it will hire 80,000 people and invest 68 trillion won in Korea over the next three years from this year to 2026. The plan is expected to create about 198,000 decent new jobs.The announced investment in Korea is a significant increase from the 56.2 trill
Samsung Electronics has failed to resolve wage negotiations again this year, signaling another round of union risks.The Nationwide Samsung Electronics Workers’ Union, the largest union at Samsung Electronics, announced on March 18 that it formed a labor dispute committee and will start a labor strug
Twenty years ago, the wage level of workers in South Korea was not even half of that in Japan, but now it has surpassed Japan. The wage gap between large, medium, and small-sized enterprises has further widened due to the cumulative wage increases in large companies.On March 17, the Korea Enterprise
Kumho Tire plans to invest more than 1 trillion won to build its inaugural factory in Europe by 2027. The company intends to evaluate incentives and tax benefits pledged by four countries -- Romania, Serbia, Portugal, and Turkey -- including the size of subsidies, before finalizing the factory’s loc
LG Chem, Korea’s largest petrochemical company, will shut down its styrene monomer (SM) plant at the end of March. SM is widely used in the manufacture of various petrochemical products. The company is also reportedly considering abandoning production of ethylene oxide (EO) and ethylene glycol (EG),
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.The Fed's rate cut playbook emphasizes cuts sooner rather than later and further tightening. With this in mind, we anticipate bullish steepening of yield curves starting from 2Q24. The US and EU are
It has been revealed that the hourly wages of domestic helpers in South Korea are more than four times higher than in neighboring countries such as Hong Kong and Taiwan. In an effort to alleviate the burden of caregiving services, which is considered one of the causes of low birth rates, the Bank of
The conflict over wage negotiations between Samsung Electronics and its labor union has escalated as the two sides failed to reach an agreement in the first mediation meeting, sparking heightened interest in the possibility of a strike materializing.According to industry sources on March 6, Samsung
Only 14 percent of South Koreans work in large companies, versus 58 percent of Americans.Koh Young-sun, a senior research fellow at the Korea Development Institute (KDI), presented this statistic in a report titled “A Need for More Large-Company Jobs” released on Feb. 27, emphasizing the need to exp
The U.S. government has decided to support SK siltron with investment funding in the form of a loan to expand its production in the United States. SK siltron CSS currently operates a factory in Bay City, Michigan.The Loan Programs Office (LPO) under the U.S. Department of Energy announced on Feb. 22
A new mega labor union, formed through the collaboration of four Samsung Group affiliates, has emerged. The union comprises over 10,000 members. While there have been instances of certain unions cooperating in solidarity in the past, this marks the first time such a unified form of establishment has
Hyundai Motor Group which runs Hyundai Motor, Kia Corp. and Genesis sold a total of 7.34 million vehicles globally in 2023, ranking third in sales, according sources in the automobile industry. This marked the second consecutive year that the group has ranked among the big three.Toyota Group, with b
Hanon Systems (018880) announced on Feb. 14 that its preliminary consolidated financial results for last year showed an operating profit of 277.2 billion won (US$207.9 million), up 8.1% from the previous year. Sales revenue increased by 10.8% to 9.5593 trillion won and net income rose by 120.2% to 5