A forecast has emerged predicting substantial growth in South Korea’s exports this year. On Jan. 18, the Bank of Korea (BOK) published an issue note titled “Assessment and Insights on Global Growth and Trade Post-Pandemic – BOK Issue Note.”The BOK foresees an expansion in South Korea’s export growth
The won-dollar exchange rate has been on the rise, leading to an influx of foreign selling. The KOSPI index experienced volatility as foreign investors unloaded their holdings, causing it to fall below the 2440 level from the previous day.On the morning of Jan. 18, the KOSPI is indicating a modest r
Celltrion has launched an 80-mg dosage form of its biosimilar Yuflyma (adalimumab) for the treatment of autoimmune diseases in the United States.Celltrion said on Jan. 17 that 80 mg is the same high-concentration (100 mg/ml) formulation as the 40 mg version that became available in the United States
Hyundai Motor, Tesla, BYD, and Volkswagen, the top four players in the electric vehicle (EV) industry, have embarked on a race to mark down electric vehicle prices in major markets. The price cuts are a defensive move in response to the double whammy of slowing demand for EVs and the recent suspensi
The author is an analyst for NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.Specialized in rechargeable battery safety solutions, Inics manufactures battery cell pads and fire-resistant barriers. It has successfully secured an initial market for EV safety-related com
LX International announced on Jan. 16 that it has acquired 60% ownership of the AKP mine in Indonesia for 133 billion won (US$98.9 million), securing management rights.The acquisition was completed through LX International’s Indonesian subsidiary PT.EBI, which paid the full price for the AKP mine st
Apple has overtaken Samsung Electronics in global smartphone shipments. While Samsung Electronics had previously led in shipments with its mid-range Galaxy A series, the increasing preference for premium smartphones last year led to Apple surpassing Samsung. This marks the first time Samsung has los
Samsung Heavy Industries and Hanwha Ocean are expected to wrap up shipbuilding contracts in March. QatarEnergy has expanded the size of its second phase LNG carrier ordering project.QatarEnergy, Qatar’s state-run energy company, has increased the number of reserved slots at Samsung Heavy Industries,
Amid police investigations into allegations of illegal expenditures on a local board meeting in Canada by POSCO Holdings, the holding company of POSCO Group, new suspicions have emerged regarding similarly extravagant overseas board meetings held in the past.According to a comprehensive report by CB
It has been reported that China, which has implemented export controls on graphite, a key material for battery cathodes, since December of last year, has granted permission for the export of graphite to major battery companies in South Korea. However, there remains the possibility of further tighten
Due to a slowdown in global demand for electric vehicles, leading to an “oversupply,” the prices of battery materials have significantly fallen. Companies in this sector are noticeably tense. According to Taiwan’s market research firm TrendForce on Jan. 14, in December last year, the prices of lithi
Foreign tourists spent 5.64 million won (US$4,297) and 1.43 million won on duty-free goods per capita in November 2022 and November 2023, respectively. The amount plunged by more than 70%.The number of foreigners who visited domestic duty-free shops in November more than doubled to 646,000 from the
The Bank of Korea (BOK) has decided to maintain the benchmark interest rate at 3.50 percent during its first Monetary Policy Committee meeting of the year, marking the “eighth consecutive” freeze. This decision is interpreted as a cautious stance, considering the ongoing global trend of major centra
A research study revealed that the total market capitalization of all listed companies in South Korea has increased by nearly 500 trillion won over the past year. The top two companies in terms of market cap growth were Samsung Electronics and SK hynix, with the combined market cap of these two comp
Hyundai Motor Company has entered into a four-year contract to receive lithium, a crucial material for electric vehicle batteries, from a Chinese supplier.China’s lithium supplier, Shenzhen Chengxin Lithium Group, announced on Jan. 11 that it has signed a contract with Hyundai Motor to supply lithiu
Rongsheng Petrochemical, China’s largest petrochemical company, will begin a major expansion of petrochemical products at the beginning of the new year. The expansion portfolio includes intermediate raw materials and synthetic resins, which are the main products of Korean petrochemical companies.Ron
Following the largest fine ever imposed by the Fair Trade Commission due to a game item probability manipulation controversy, Nexon announced improvements just one week later.On Jan. 9, Nexon apologized for the recent controversy in a live broadcast starting at 6 p.m. and announced the suspension of
According to foreign media on Jan. 10, American investment bank Jefferies reported that Apple’s sales in China are increasingly suffering due to intense competition from local Chinese smartphone manufacturers, including Huawei.Chinese smartphone makers continue to aggressively challenge the market w
LS Eco Energy (formerly known as LS Cable & System Asia) has become the first Korean company to sign a large-scale long-term rare earth purchase contract in Vietnam. The contract signing is expected to stabilize LS Eco Energy’s rare earth supply chain by diversifying import sources of rare earth tha
The sale of GS E&C’s subsidiary GS Inima will begin in earnest from February.According to sources in the investment banking (IB) industry on Jan. 10, GS E&C will distribute an investment prospectus for the sale of a stake in its wholly owned subsidiary GS Inima before the Lunar New Year holiday in F