Representatives of Korea Energy Technology University (KENTECH) announced on Feb. 21 that they had signed a memorandum of understanding (MOU) on Feb. 20 in Halle, Germany, with representatives of Fraunhofer IMWS and Anhalt University of Germany to strengthen cooperation throughout the entire cycle o
General Motors (GM) is considering investing to build a plug-in hybrid electric vehicle (PHEV) production facility at its Bupyeong plant in Incheon, Korea.GM is considering investing in the construction of a PHEV facility at its Bupyeong plant, according to sources in the automobile industry on Feb.
LG Innotek has taken a significant step towards dominating the autonomous driving camera market by developing a “high-performance heating camera module” suitable for harsh winter conditions.On Feb. 20, LG Innotek announced the development of a high-performance heating camera module for autonomous dr
The Namdong district of Incheon Metropolitan City houses the Namdong National Industrial Complex, playing a pivotal role in driving the Korean economy. The industrial complex, established in December 1989, is a key metropolitan industrial area with an annual production value of approximately 30 tril
In relation to the crash of the Marineon (MUH-1) utility helicopter in 2018, which resulted in the death of five individuals, Korea Aerospace Industries Ltd. (KAI) has been ordered by the court to compensate the state over 1.4 billion won. This first-instance verdict came after the state filed a law
SK hynix President and CEO Kwak Noh-jung stated that the company is carefully considering the selection of a site for an advanced packaging facility in the United States, targeting all states.On Feb. 19, CEO Kwak made these remarks during a meeting with the press following the regular meeting of the
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
South Korea’s exports to China are expected to surge in 2024 due to a recovery of the IT market in China. However, South Korea is unlikely to record a large trade balance surplus as in the past due to an increase in imports of Chinese batteries and the declining competitiveness of Korean products.“I
Despite the current economic downturn, South Korea’s top three battery manufacturers are ramping up their investments in infrastructure this year to strengthen their business foundations. According to industry sources on Feb. 18, LG Energy Solution plans to invest approximately 10.9 trillion won in
The presidential office stated regarding Cuba, with which diplomatic relations have recently been established, that “as a major reserve of nickel and cobalt, which are essential for secondary battery production, Cuba holds significant potential for cooperation in mineral supply chain sectors.”Accord
Hanwha Aerospace is building the largest private space launch vehicle production facility in South Korea.The company announced on Feb. 15 that it held a groundbreaking ceremony for the tentatively named “Space Hub Launch Vehicle Manufacturing Center” in Suncheon, South Jeolla Province, on the same d
Samsung Electronics has entered the competition for a cutting-edge 2-nanometer (nm, one billionth of a meter) foundry process and has secured an order to produce 2-nm semiconductors from a Japanese artificial intelligence (AI) company.According to industry sources on Feb. 15, Samsung Electronics has
Samsung Electronics, along with Taiwan’s TSMC and America’s Intel, is accelerating the competition to introduce advanced 2-nm process technologies in a bid to take the lead in the global foundry market. Fueling this race among the three companies is Sam Altman, CEO of OpenAI, the developer of the ge
LS Eco Advanced Materials, a subsidiary of LS Cable & System, announced that it has signed a memorandum of understanding (MOU) with the German-based Vacuumschmelze, the largest permanent magnet manufacturer in Europe, to establish a joint venture corporation.The two companies plan to establish the j
The author is an analyst for NH Investment & Securities. He can be reached at jaekwang.rhee@nhqv.com -- Ed.Both 4Q23 and 2023 earnings reached historic highs. This year, earnings should remain steady, with share price momentum being driven by an uptick in overseas orders. KAI is targeting 2024 aircr
Hyundai Motor and Kia Corp. are looking to ramp up their market shares by introducing more than five new electric vehicle models this year. The electric vehicle market, which grew rapidly, has slowed down somewhat, but the two automakers are expediting their electrification transition with the new m
China is dominating the global battery market backed by overwhelming growth in its home market. Stopping China’s rise in the global battery industry has become a big challenge for Korea, which ranks second in the market behind Chinese companies as well as the United States and Europe.Six of the worl
Hanwha Aerospace and Hanwha Systems announced today that they have entered into a Memorandum of Understanding (MOU) with the Saudi Ministry of National Guard to explore industrial opportunities in the Land Systems. Hanwha is strengthening and growing its partnership with the Kingdom of Saudi Arabia
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
During the Lunar New Year holiday, Lee Jae-yong, chairman of Samsung Electronics, visited the Samsung SDI battery manufacturing facility in Malaysia, emphasizing the need for bold investments despite challenges. On Feb. 12, Samsung Electronics reported that Chairman Lee, having arrived in Malaysia o