The author is an analyst for NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.While China’s petrochemical demand set new records in Aug 2023, product spreads remained weak, owing to both strong oil prices and lofty supply. While capacity ramp-up should decrease in 2024, alread
Samsung Electronics and KDDI today announced the companies have signed a Memorandum of Understanding (MOU) to form a 5G Global Network Slicing Alliance. Through this new alliance, the companies will work together to introduce an array of commercial 5G network slicing services and assess new business
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.The bio industry has failed to rebound after the slowdown in antibody drug market growth in 2022. However, large CMOs are expected to start a turnaround, led by Alzheimer's antibody treatments, ADCs,
The author is an analyst for NH Investment & Securities. He can be reached at seungyeon.han@nhqv.com -- Ed.On Sep 26, the share price of HanAll Biopharma partner Immunovant jumped by over 97% on surprise interim data from the IMVT-1402 phase I trial. Encouraging results were reported in terms of bot
Samsung SDI will invest 2.65 trillion won (US$2.00 billion) in a second electric vehicle battery factory to be built in the United States with U.S. automaker Stellantis.Samsung SDI announced in a board meeting on Sept. 27 that it will invest 2.6556 trillion won in the StarPlus Energy Gigafactory 2,
The U.S. government is reportedly set to indefinitely halt restrictions on the export of U.S.-made semiconductor equipment to Samsung Electronics and SK hynix factories in China.The U.S. Commerce Department’s Bureau of Industry and Security (BIS) has been in talks with Samsung Electronics and SK hyn
On Sept. 27, Samsung Engineering announced that it has received a notice of award (NoA) for a front end engineering design (FEED) project for a petrochemical plant from Alujain Corporation of Saudi Arabia. The order is worth about US$19.5 million or 26 billion won. The Korean contractor will complet
Smart sustainable cities need to ensure that vulnerable populations are not left behind in the drive for technological progress, international child protection and sustainable development expert Joanna Rubinstein said Tuesday.Addressing a gathering of international mayors of the World Smart Sustaina
On Sept. 25 (local time), Hana Financial Group announced that it has signed a memorandum of understanding (MOU) with the Saudi Export-Import Bank (Saudi EXIM) in Riyadh for the expansion of cooperative businesses within the Middle East.This marks the first business agreement between the Saudi EXIM B
On Sept. 25, KB Kookmin Bank announced that it signed an MOU with VNPT EPAY, a leading electronic payment company in Vietnam, on Sept. 21.Since its initial foray into Ho Chi Minh City in the southern part of Vietnam in 2011, KB Kookmin Bank expanded its presence by opening a branch in the northern c
Samsung Electronics DS Division (Semiconductor) for North America (DSA) has taken the unprecedented step of introducing a three-day office attendance policy to combat the growing semiconductor talent shortage.According to semiconductor industry sources on the 26th, Samsung’s DSA recently implemented
Speculation is mounting that Hyundai Motor may follow the footsteps of Nissan, Renault, and Mazda, which withdrew from Russia under a “1 euro sale contract” that included a repurchase condition (buyback clause). Following the end of the war in Ukraine, the Russian government has suggested a buyback
POSCO International announced on Sept. 26 that it has signed a framework agreement on the establishment of a joint venture for the food investment business with Bartlett & Company, a leading local grain company, in Kansas City, the U.S., on Sept. 25.Bartlett is a food-specialized company with about
As of the second quarter of this year, household and corporate debt has surged to approximately 2.26 times the nation’s economic size as measured by the gross domestic product (GDP). The Bank of Korea (BOK) has issued a warning emphasizing that the further expansion of private credit could potential
The KOSPI’s market capitalization, which had maintained the 2,000 trillion won (US$1.48 trillion) level since May, saw another sharp decline as it fell below 2,000 trillion won at the end of last month. The persisting “3 Highs” phenomenon – high interest rates, high oil prices, and a strong dollar –
Domestic hedge fund and private equity firm Brain Asset Management has embarked on a US$500 million (675 billion won) pre-IPO investment in SK pharmteco, which involves investing in the company’s equity before it goes public. Following an initial investment of US$300 million (405 billion won), it ha
The Seoul branch of Iran’s Bank Mellat has initiated a lawsuit against Woori Bank, seeking the return and a 6 percent annual interest payment on 20.2 billion won (US$14.96 million) in funds frozen due to U.S. sanctions.According to financial industry sources on Sept. 26, Bank Mellat filed a deposit
Ford has decided to suspend the construction of an automotive battery plant in Michigan with Chinese battery maker CATL. Strong opposition from U.S. lawmakers to Chinese companies building battery production facilities in the United States to circumvent the U.S. Inflation Reduction Act (IRA) is the
Samsung Electronics maintained its leading position in the European, Middle East and Africa smartphone markets.Samsung Electronics accounted for 33 percent of the European smartphone market in the second quarter, surpassing Apple (23 percent) and Xiaomi (20 percent) and taking first place in the sta
An event commemorating the 50th anniversary of diplomatic relations between Korea and Finland was held at KOTE in Insa-dong on Thursday, September 21, and Finnish health tech company Naava Korea (CEO Nam-kyu Lee) also participated as a main partner in this event.On August 24, 1973, the presidents of