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
The scale of The Line project in Saudi Arabia is expected to be significantly reduced compared to the original plan. The Line is a large-scale project that was expected to cost up to 700 trillion won. As a result, Korean builders are expected to significantly lower the level of their anticipation fo
Much attention is paid to geopolitical risks in the Middle East, which have accounted for the largest share of overseas construction orders to Korean construction companies in the first quarter of this year.A total of 183 Korean construction companies won 171 orders in 63 countries around the world
Anticipations are growing for the Korean shipbuilding industry’s entry into the U.S. warship maintenance, repair and overhaul (MRO) business as the U.S. Secretary of the Navy, who is in charge of the U.S. Navy’s weapons procurement and budget, has praised the capabilities of the Korean shipbuilding
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Basking in an absence of one-off issues in 1Q24, SHI’s shipbuilding volume and margins are expanding. Having already won 40% of its 2024 order target, the firm should see its full-year order intake r
Samsung Electro-Mechanics is expanding its footprint in the artificial intelligence (AI) market. Following the successful mass production of semiconductor package substrates for AI PCs, the company plans to also produce Flip Chip-Ball Grid Array (FC-BGA) for AI servers in the second half of the year
Domestic sales and exports of electric vehicles plummeted in the first quarter of 2024, while sales of hybrid vehicles ballooned. The analysis is that hybrid vehicles, which are more fuel-efficient and environmentally friendly, are becoming a substitute as electric vehicles have fallen into a chasm
LS Eco Energy has recently supplied ultra-high-voltage cable to Denmark, the company announced on April 11.The supply consists of 220 kV underground cables worth US$13 million. These cables will be used to connect the North Sea’s “Thor Offshore Wind Farm” with the inland power network.Since 2017, LS
Hyundai Mobis announced its participation in the 37th World Electric Vehicle Symposium and Exhibition (EVS37), which will take place at COEX in Seoul from April 23 for four days, where it will showcase its core technologies for future mobility.EVS37 is the world’s largest electric vehicle symposium
As the commercialization of all-solid-state batteries, often referred to as the “battery of dreams,” approaches, Korean battery materials companies are pumping up their efforts to build an ecosystem.According to industry sources on April 10, Samsung SDI recently started building a domestic supply ch
After enduring difficulties in the first quarter, major Korean entertainment companies have been aggressively marketing themselves. They are also changing their consumer bases, shifting from a profit structure that relies on core fans to target light fans, those who consume music lightly.According t
Kia has lowered its sales target for China by more than half in a year.At its 2024 CEO Investor Day on April 5, Kia maintained its global sales target for 2030 at 4.3 million units, the same as last year.However, the Korean carmaker has cut its China sales target by more than half (230,000 units) fr
HMM is set to enhance its market share on the major U.S. routes by deploying additional container ships. This strategy is part of their plan to seize a “performance turnaround” opportunity by maintaining high sea freight rates ahead of long-term freight contracts.According to the maritime industry o
Recent opinion polls suggest that former President Donald Trump is leading in the race in swing states among potential candidates for the upcoming November U.S. presidential election, raising concerns about trade pressure from the United States. During his tenure, former President Trump considered t
LG Innotek announced on April 7 that it has developed a “high-performance Light Detection and Ranging (LiDAR)” that triples the detection distance in adverse weather conditions compared to its predecessors.LiDAR, which uses infrared rays to measure distances, is considered an essential component for
LG Energy Solution is investing 7.2 trillion won to build a battery production plant in Arizona in the U.S. This investment represents the largest single battery plant investment in history. Despite concerns about a “chasm” in the electric vehicle market, which refers to a temporary slowdown in mass
Samsung E&A (formerly known as Samsung Engineering) has announced its first overseas order from Saudi Arabia after changing its name.Samsung E&A announced on April 3 that it held a signing ceremony with Saudi Arabia’s national oil company Aramco for the Fadhili Gas Increment Program’s Packages 1 and
Gyeongbuk Governor Lee Cheol-woo had an in-depth discussion on various mutual cooperation measures including the Saemaul movement between the two countries with Sri Lankan Prime Minister Dinesh Gunawardena at the Gyeongbuk Provincial Office on April 3.During the visit, which was attended by key gove
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,