Samsung Heavy Industries (SHI) and Hanwha Ocean, two of the three major Korean shipbuilders along with HD Korea Shipbuilding & Offshore Engineering (KSOE), are expected to fail to meet their annual order targets set earlier this year by the end of December.According to sources in the shipbuilding in
Leading defense industry companies in South Korea, including Hanwha Aerospace, Korea Aerospace Industries (KAI), LIG Nex1, Hyundai Rotem, and Hanwha Ocean, have hit “contract jackpots” in countries like Poland and Australia, marking a significant shift for South Korea from a defense equipment import
According to the International Contractors Association of Korea (ICAK) on Dec. 25, the total value of construction contracts in the Middle East, including Saudi Arabia and the United Arab Emirates (UAE), has reached US$8.38 billion from the beginning of the year to the end of November this year, mar
SK ecoplant is positioning itself as a domestic powerhouse in offshore wind power, one of the most prominent eco-friendly energy business alongside the solar power business. SK ecoplant is jointly developing an offshore wind power ocean energy project. The project is to build floating and fixed offs
Dong-A Socio Group’s specialty drug affiliate, Dong-A ST, will enter the ADC market through the acquisition of an antibody-drug conjugate (ADC) linker platform company. ADCs are a treatment that combines an antibody that combines a target antigen with a cytotoxic drug as a linker and is known for it
In the future, cryptocurrency issuing companies will no longer be able to arbitrarily recognize profits or assets.The Securities and Futures Commission (SFC) under the Financial Services Commission (FSC) announced on Dec. 21 that it had passed the “Supervisory Guidelines for Accounting Treatment of
Following the spread of COVID-19, North Korea’s real gross domestic product (GDP) has experienced three consecutive years of negative growth, leading to a widening income gap of up to 30 times per capita between North and South Korea. Last year, North Korea’s population was approximately half the si
As Kakao Corporation and its executives face trial over allegations of stock manipulation involving SM Entertainment, controversy arises within Kakao Pay, a subsidiary that has been pursuing the acquisition of management rights of Siebert Financial, a U.S.-based securities firm, since the beginning
POSCO International is rapidly transforming into an eco-friendly comprehensive business company and a business platform provider.POSCO International announced on Dec. 19 that, in its first year since the merger with POSCO Energy, it has successfully established three major business value chains -- e
LG Electronics is set to participate in rights offering for LG Display (LGD) amounting to 1.36 trillion won (US$1.04 billion). This move aims to strengthen the competitiveness of the organic light-emitting diode (OLED) business.The company announced on Dec. 19 that it has convened a board meeting an
Hyundai Motor plans to sell its Russian plant, which has been idle for nearly two years, to a local company for a mere 140,000 won (US$107.12). However, the contract includes a “buyback” clause, allowing Hyundai to repurchase the facility within the next two years, in anticipation of the possibility
OCIM, a wholly owned subsidiary of OCI Holdings in Malaysia, has penetrated the U.S. market by signing a contract worth US$1 billion with an American company. OCIM’s strategic product is non-Chinese polysilicon.OCI Holdings announced on Dec. 19 that it had signed a contract for the supply of polysil
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Moving ahead, we expect to see further structural strengthening in CJ Logistics’ profitability, powered by a combination of higher parcel delivery volume, a widening sales portion for small parcels,
Hyundai E&C and Hyundai Engineering announced the award of a contract worth 3 trillion won for the Phase 2 expansion project of the Zafura Gas Field in Saudi Arabia.The contract value is 1.5345 trillion won (US$1.1728 billion) for each company, accounting for 7.23% of Hyundai E&C’s 2022 annual reven
A South Korean company’s overseas gas field project, which had been suspended for nearly a year due to local opposition, has dramatically resumed thanks to intergovernmental cooperation.The Australian Maritime Safety Authority approved an environmental license for SK E&S to drill an offshore gas fie
Hanwha Aerospace has delivered an additional six K9 self-propelled howitzers to Estonia, adding to the 24 already in operation there. By 2026, when the remaining six units are delivered, Estonia will have a total of 36 K9 howitzers in operation.According to the defense industry on Dec. 18, the Eston
Samsung Heavy Industries disclosed on Dec. 18 the arbitration tribunal’s decision regarding the damage compensation for defects in the cargo holds of two liquefied natural gas (LNG) carriers they built.On Dec. 15 (local time), the London arbitration tribunal ruled that Samsung Heavy Industries must
On Dec. 18, Korea Development Bank (KDB) and the Korea Ocean Business Corporation (KOBC) announced the selection of the Pan Ocean-JKL consortium as the preferred bidder for the acquisition of the management rights of HMM, the largest ocean container shipping company in South Korea. After negotiation
Securities firms have been caught engaging in illegal “bond shuffling” practices, transferring bond losses, sometimes amounting to as much as 500 billion won (US$383.44 million), to other clients in an attempt to preserve investment returns for certain institutions and corporations. These activities
The smartphone market is witnessing a surge in demand for NAND flash, as manufacturers’ significant production cuts have reduced inventory buildup, and the impending launch of smartphones equipped with “on-device artificial intelligence (AI)” is anticipated. This trend is expected to boost NAND pric