Over the past five years since 2018, Samsung has reduced the number of its overseas subsidiaries by approximately 100, whereas Hanwha has increased its number by more than 400, leading the group with the most overseas entities. Particularly, Samsung has actively reduced 22 of its subsidiaries in Chi
Despite a global rush of major companies reshoring, South Korea uniquely trails its competitors in encouraging businesses to return, with the growth in returning companies remaining slow. Despite recent government efforts to encourage reshoring, assessments indicate that it is still insufficient.Acc
South Korea needs to strengthen its import-export trade with the United States through the Foreign Military Sales (FMS) program in order to become one of the top four global defense export powers, according to a Korea Institute of Industrial Economics and Trade (KIET) report titled “Recent Trends an
Woori Bank announced on Aug. 6 that it entered into a strategic alliance on Aug. 4 with BuildBlock, a U.S. real estate investment platform company, to provide comprehensive real estate investment services.BuildBlock is a Korean startup headquartered in Silicon Valley and was selected as a promising
Hyundai Motor Group has invested US$50 million in Tenstorrent, an artificial intelligence semiconductor startup based in Canada. Hyundai Motor Group has been reinforcing its semiconductor capabilities through strategic collaborations and by establishing a new semiconductor development lab this year.
The rise of Poland as a prominent hub for Eastern European electric vehicle battery and defense industries has positioned it as a strategic focal point for domestic and international corporations. The recent collaboration with Ukraine’s reconstruction efforts has also attracted attention from domest
The recent downgrade of the United States credit rating by Fitch due to fiscal deficits and government debt holds important lessons for South Korea, which finds itself grappling with an inability to break free from the addiction to expanding its fiscal measures. Under the stewardship of the Moon Jae
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.After-sales parts division entering the home stretch to recoveryThe key variable determining auto sector earnings has been shifting from ASP levels (inflation) in 2022 to the normalization of supply chai
According to industry sources on Aug. 1, the LG Group is planning to double its current investment in U.S. Silicon Valley venture companies through its Corporate Venture Capital firm, LG Technology Ventures, to 1 trillion won. The aim is to synergize with the future businesses of each LG Group affil
Samsung Chairman Lee Jae-yong ambitiously invested 9 trillion won (approximately US$8 billion at the time) in the company Harman, and after a span of about six years Harman has now firmly established itself as a robust and integral part of Samsung Electronics’ business portfolio.In Samsung Electroni
The trend of collaborations between domestic and foreign enterprises of various sizes to achieve success in new drug development is on the rise. Such collaborations are viewed within the industry as a potential model for “Korean-style Open Innovation” in the pharmaceutical and biotech sectors.Accord
The newly appointed CEO, Lee Hak-jae, is set to propel Incheon International Airport’s logistics services into a new era. His leadership promises to infuse fresh vitality into the airport’s logistics operations and fulfill his vision of establishing Incheon as a global logistics hub.Born in 1964, Pr
For the first time, Chinese shipbuilders have won large containership orders from global shipping giants. The Chinese government gave full support to the Chinese shipbuilder in landing this order. This helped China rise as the No. 1 shipbuilding powerhouse for large containerships in the world in th
The author is an analyst for Shinhan Securities. He can be reached at ldh@sinhan.com -- Ed.2Q23 review: Earnings surpriseDoosan Bobcat reported sales of USD2.03bn (+15% YoY) and operating profit of USD360mn (+44% YoY) for 2Q23, an earnings surprise that exceeds market estimates by 3.2% and 28.3%, re
The export status to Australia of Hanwha Aerospace’s Infantry Fighting Vehicle (IFV), the Redback, is expected to be announced within a few days. When it was tendered in 2018, the project’s scale was 450 armored vehicles (approximately 16 to 24 trillion won), but due to the change of the Australian
SK Inc. announced that its board of directors (BOD) held a meeting on July 26, in which the board declared to distribute an interim dividend of KRW 1,500 per share, matching last year’s payout. The total interim dividend payout amounts to approximately KRW 83.6 billion. SK Inc. has been distributing
HK inno.N Corp. announced on July 24 that its new drug for gastroesophageal reflux disease, K-CAB (active ingredient: Tegoprazan), has been granted product approval by Peru's National Medicines Authority (DIGEMID) on July 21.In 2018, the company inked a contract with “Laboratorios Carnot,” a lea
Chinese banks that have entered the Korean market have faced a wave of sanctions from the Financial Supervisory Service (FSS) for breaching reporting obligations.The simultaneous sanctions imposed on Chinese banks are considered unusual, demonstrating the financial authorities’ determination to take
In the first six months of this year, the net issuance of Korean Paper denominated in foreign currencies by domestic residents, excluding the government, amounted to US$13.3 billion. This marks a significant increase compared to the previous year’s annual net issuance of US$11.4 billion. Furthermore
In the United States, a road has been named after South Korean conglomerate SK Group.SK on announced on July 20 that “Steve Reynolds Industrial Parkway,” a road near the SK Battery America (SKBA) facility in Commerce City, Jackson County, Georgia, has been renamed SK Boulevard. Jackson County decide