BMW Group Korea will now carry out all electric vehicle and software development, as well as certifications in Korea.“Korea is BMW’s fifth-largest market globally, and this year we became the No. 1 brand in premium cars, including electric vehicles,” said Jochen Goller, a member of the Board of Mana
Samyang Foods’ flagship brand “Buldak Series” is making waves in the global market, garnering successive attention from local media. Particularly, it continues to uphold the “Buldak Legend” with comprehensive support of Kim Jung-soo, vice chairman of Samyang Round Square.Based on industry sources on
South Korea is expected to maintain its position as the most expensive country for smartphones in the world. Since surpassing Japan in 2021, South Korea has held onto this top spot without challenge, with forecasts suggesting it will continue to have the highest average selling price (ASP) for smart
ArkData, a specialist in real-time data replication (CEO: Ko Kwang-yeon), has announced official support for real-time data extraction and replication for the latest version of TmaxTibero's Tibero (Tibero) DBMS, Tibero 7.The product that supports replication for Tibero 7 is ArkData's 'Ark for CDC'.
The author is an analyst for Shinhan Securities. He can be reached at ldh@sinhan.com -- Ed.1Q24 review: OP of engines surpasses construction equipmentHD Hyundai Infracore posted sales of KRW1.16tr (-10% YoY), operating profit of KRW92.8bn (-39% YoY), and operating margin of 8% (-3.8%p YoY) for 1Q24.
The author is an analyst for Shinhan Securities. She can be reached at sunmi.kim@shinhan.com -- Ed.Strong top-line drives earnings surprise & annual forecast revisionHyundai Engineering & Construction posted sales of KRW8.5tr and operating profit of KRW250.9bn for 1Q24, beating consensus estimates b
The New Zealand Wine Festivals, which promise an unforgettable experience of New Zealand culture and remarkable wines, are returning this year by popular demand. The events in Seoul and Busan will leverage the growth and recognition of an array of New Zealand’s premium wines.“New Zealand wine is a f
Korean appliances are making strides in Europe, one of the world’s most conservative markets. Although the European market is known for its traditional preferences, Korean companies have carved out a strong presence by adopting tailored strategies that cater to local tastes.Last year, LG Electronics
It has been revealed that the four American “big tech” companies -- Apple, Microsoft, Google, and Meta -- collectively garnered around 9 trillion won in sales and about 600 billion won in operating profit in South Korea over the past year.According to the audit reports disclosed in the Financial Sup
As of last year, the cumulative overseas sales of the Korea Electric Power Corporation (KEPCO) reached a total of 41.8 trillion won (US$30.29 billion). More than half of the overseas sales came from nuclear power projects.According to KEPCO on April 18, the cumulative overseas sales of the company a
Osstem Implant, the world’s leading dental implant company in sales, faced measures including the recommendation for dismissal of its CEO following embezzlement amounting to around 220 billion won. The Securities and Futures Commission (SFC) under the Financial Services Commission resolved on such m
On April 17, Chairman Shin Dong-bin of Lotte Group visited the Lotte Energy Materials’ smart factory in Kuching in the state of Sarawak in Malaysia to inspect the secondary battery material business and engage with local employees.Since 2019, Lotte Energy Materials has been producing copper foil in
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
HD Hyundai Heavy Industries announced on April 16 that it had signed a contract worth 640.6 billion won to jointly construct four naval vessels with the Peruvian state-owned SIMA Shipyard. Selected as the priority negotiating partner at the end of last month, the contract was formalized within appro
The water industry is generally defined as the business of producing and supplying potable water and industrial water needed for households and industries, as well as transporting and treating wastewater. The water industry is expected to steadily grow due to factors such as worsening water scarcity
Domestic semiconductor design houses are accelerating their expansion into the global market with plans to diversify their revenue sources by targeting overseas fabless semiconductor design companies.Industry sources revealed on April 16 that Samsung Electronics’ Foundry Business Unit’s Design Solut
A forecast suggests that SK hynix’s operating profit is expected to surge to around 2 trillion won, marking a turnaround to profitability compared to the same period last year, ahead of the earnings announcement scheduled for April 25.According to financial information provider FnGuide on April 16,
Hybrid cars overtook gasoline cars for the first time in the imported car market in Korea in the first quarter of this year.According to the Korea Automobile Importers & Distributors Association, hybrid vehicles accounted for 47.5 percent (25,908 units) of newly registered imported cars from January
Samsung Electronics Chairman Lee Jae-yong (left) and BMW CEO Oliver Zipse (right) talk about BMW’s latest electric car, the New i7, at the BMW Driving Center in Yeongjongdo, Incheon, Korea, in December 2022.Germany’s BMW Group said on April 15 that it bought about 6.535 trillion won worth of auto pa
South Korean cosmetics companies such as LG Household & Health Care and AmorePacific are reducing their reliance on the Chinese market and aggressively increasing their market share in the United States.According to statistics from the Korea Customs Service on April 15, the export amount of Korean c