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
Analyses suggest that South Korea’s foundry (semiconductor contract manufacturing) production capacity may decrease somewhat due to the semiconductor competition between China and the United States and the competitive reshaping of supply chains by major global countries.According to the market resea
With Cho Hyun-sik, the advisor of Hankook & Company and the eldest son of the tire maker’s honorary chairman, preparing to take over the leadership in collaboration with MBK Partners, Cho Yang-rae, the honorary chairman of Hankook & Company, is once again offering support to Chairman Cho Hyun-bum, t
Doosan Enerbility announced on Dec. 14 that a delegation led by Bandar Alkhorayef, the minister of industry and mineral resources of Saudi Arabia, visited its Changwon plant in South Gyeongsang Province.The visit on this day aims to inspect South Korean companies conducting business in the country a
Information and communication technology (ICT) and automobiles are leading Korean exports. ICT exports emerged from a 17-month recessionary tunnel on the coattail of memory semiconductors. Automobiles are close to surpassing US$70 billion in annual exports for the first time ever.According to the Mi
SeAH Group is rapidly expanding its global offshore wind power business. It is expanding its presence in the European market as an offshore wind substructure supplier.SeAH Wind, an offshore wind substructure manufacturing subsidiary of SeAH Steel Holdings, announced on Dec. 14 that it has been award
Kolon Global announced on Dec. 13 that it signed a business agreement with Enercon, a leading German manufacturer of direct-drive wind turbines without gears, at Kolon Tower in Gwacheon, Gyeonggi Province, on Dec. 12. Enercon is recognized as one of the top three global wind power companies.Through
LIG Nex1 is actively expanding its presence in the defense markets of Africa, Europe, and North America, following its success in the Middle East.According to defense industry sources on Dec. 13, LIG Nex1 made its inaugural participation at the “Egypt Defense Expo (EDEX) 2023,” the largest event of
LG Chem announced on Dec. 13 that it will hold a groundbreaking ceremony for the largest anode material factory in North America on Dec. 19 in Clarksville, Tennessee. This comes 13 months after signing a memorandum of understanding (MOU) with the state of Tennessee for the construction of the anode
Samsung Electronics and Dutch semiconductor equipment company ASML are set to invest a total of 700 million euros to build a future semiconductor technology research and development (R&D) center in South Korea. The center’s primary goal is to develop ultra-fine manufacturing processes and necessary