Saudi Arabia’s state-owned oil company Aramco called off a plan to expand Safaniya Oil Field, putting a damper on Hyundai E&C’s plan to reach its annual overseas order goal. The company has set a target of 6.3 trillion won for overseas orders this year.According to sources in the Korean construction
South Korean ramen exports nearly reached US$1 billion last year. According to the Ministry of Agriculture, Food and Rural Affairs on Jan. 17, ramen exports stood at US$952.4 million last year and marked a whopping increase of 24.4 percent compared to the previous year. Ramen exports have been consi
Micron Technology, alongside other leading artificial intelligence (AI) semiconductor companies like Intel, has ramped up efforts to challenge industry front runners. According to semiconductor industry sources on Dec. 24, Micron, the third-largest DRAM manufacturer globally, is currently undergoing
LG Energy Solution announced on Sept. 19 that it has successfully completed the issuance of a total of US$1 billion in global green bonds including US$400 million with a five-year maturity and US$600 million with a five-year maturity.Their interest rates were set at +100 basis points (bps) and +130
Chung Ki-sun, president of HD Hyundai, will meet with Yasir Al-Rumayyan, governor of the Public Investment Fund of Saudi Arabia and chairman of Saudi Aramco, to discuss business cooperation during the latter’s visit to Korea from Sept. 6-8.Chung will meet with Al-Rumayyan at HD Hyundai’s headquarter
In August, exports outperformed expectations, surpassing seasonal factors such as summer vacations. The year-on-year decline in exports narrowed to single digits, and the decline in semiconductor exports to China also moderated compared to the previous month.According to the Ministry of Trade, Indus
During the middle of July, South Korea witnessed a consecutive two-month rise in its foreign exchange reserves, reflecting an increase of US$350 million. This surge can be attributed to the upward valuation of foreign currency assets against the backdrop of a weakened U.S. dollar, particularly again
South Korea's longstanding number one export market, China, is showing signs of waning in dominance after nearly 20 years since diplomatic ties were established between the two nations. Analysts suggest that South Korea’s growth model, which benefited from selling intermediate goods like semicon
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.Debt ceiling negotiations are both an event risk and a fundamental risk. After a deal is reached, market focus should shift to: 1) the reduction of short-term money market liquidity; and 2) governmen
In April, Korea’s foreign exchange reserves swelled by about US$600 million despite an interest rate differential between Korea and the U.S. hitting 1.50 percentage points, the highest in more than 22 years. The increase was due to earnings from foreign currency asset management and a weaker U.S. do
The Korea Institute for Industrial Economics and Trade said in its report on March 27 that the global defense and arms procurement budgets are estimated to increase by US$2 trillion and US$600 billion from 2023 to 2032, respectively.“Another arms race is ongoing across the world after the outbreak o
Apple took the top spot in the global market of premium smartphones costing US$600 or more per unit in the wholesale market last year.Apple enjoyed a 75 percent share of the global premium smartphone market as of last year, said market research firm Counterpoint Research on March 22. During this per
The U.S. government is relaxing regulations related to Chinese photovoltaic products. This is because both new and existing projects in the United States have been affected by a rapid decrease in the supply of those products from China, which accounts for 80 percent of the global total production.At
Woori Bank recently decided to issue US$600 million of five-year foreign currency bonds. During the demand forecasting, orders totaled US$8.1 billion, more than 13 times the planned issuance. Earlier this year, the Export-Import Bank of Korea, POSCO and SK Hynix successfully issued US$3.5 billion, U
Woori Bank has successfully issued senior bonds adding up to US$600 million. The coupon rate of the five-year ESG bonds is 4.875 percent.According to the bank, the orders totaled US$8.1 billion, the largest among foreign currency-denominated bonds issued by South Korean financial institutions since
The Chinese government suspended short-term visa issuance for South Koreans after the South Korean government applied mandatory COVID-19 testing to those entering South Korea from China. The mandatory testing has been applied since Dec. 30 along with limited visa issuance and limited flight expansio
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. Laser301 data were recently released at the ESMO Asia Congress 2022. Against this backdrop, attention is turning to Janssen’s commercialization strategy for Lazertinib. A competing phase III clinical
The Ministry of Land, Infrastructure and Transport announced on Dec. 2 that the Paraguayan upper house passed a special bill on Dec. 1 regarding a light rail transit (LRT) project in Asunción.The passage of the bill means that South Korea has won the project. According to the bill, the project will
The Ministry of Trade, Industry and Energy announced on Dec. 1 that South Korea’s trade deficit was US$7.01 billion in November this year, when its exports decreased 14 percent year on year to US$51.91 billion and imports increased 2.7 percent to US$58.93 billion. Its trade deficit continued for eig
The Bank of Korea announced on Oct. 20 that residents’ foreign currency deposits increased by US$1.23 billion to US$89.5 billion last month. The deposits consist of those owned by local individuals and companies, foreigners staying for at least six months in South Korea, and foreign companies doing