BMW is aggressively entering the Korean electric vehicle market with the establishment of electric vehicle charging infrastructure as a key strategy.According to BMW Korea on Oct. 14, the German automaker has installed 920 EV charging stations in Korea, starting with 120 EV chargers at E-Mart branch
In 2022, the Polish government signed framework agreements to buy a total of US$12.4 billion worth of arms from major Korean defense companies. The weapons included 48 FA-50 light attack aircraft, 1,000 K2 tanks, 648 K9 self-propelled howitzers and 288 Cheonmoo self-propelled multiple launch rocket
South Korea has signed a Free Trade Agreement (FTA) with the United Arab Emirates (UAE), marking its first such agreement with a Middle Eastern country and its 24th FTA overall.The Ministry of Trade, Industry and Energy announced that Ahn Deok-geun and Thani bin Ahmed Al Zeyoudi concluded Comprehens
Korea and Saudi Arabia have agreed to expand cooperation in the biotech, gaming, and automotive sectors while implementing existing economic cooperation tasks in infrastructure.The Ministry of Trade, Industry and Energy (MOTIE) announced the agreement at the Four Seasons Hotel in Seoul, during the f
The Carbon Free Alliance (CF Alliance), proposed by President Yoon Suk-yeol during the UN General Assembly last month, has been officially launched in South Korea on Oct. 12. Major domestic corporations, including Samsung, Hyundai, SK, LG, POSCO, and Hanwha, have joined the CF Alliance.The Ministry
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.Although high-base burden remains a factor, overall sector earnings for 3Q23 should show improvement versus 1H23. We see many positives to look forward to as end-year approaches, including the resumpti
Korean Air is pushing forward with the domestic sale of Asiana Airlines’ cargo business, which was once considered a major obstacle in the acquisition and merger (M&A) process with Asiana Airlines. The cargo division, previously seen as a vital source of revenue, is now under consideration for a par
On Oct. 11, Hyundai Rotem announced that it had received a pamphlet from the local government of Ukraine, expressing gratitude for the pivotal role their railway vehicles played in safely evacuating war refugees.The top right of the pamphlet reads, “Hyundai trains became one of the lifelines for Ukr
ONDA, a South Korean hospitality technology company, is participating in Dubai’s largest startup and investor event to mark its entry into the Middle East hospitality technology market.ONDA (CEO Hyun-seok Oh) announced its participation in ‘Expand North Star 2023’ from October 15th to 18th at the Du
Expectations are rising that South Korean electric mobility companies might counteract the rapid market penetration of cheaper Chinese alternatives by next year. Particularly, South Korean SMEs, medium-sized businesses, and startups are strategizing to differentiate themselves from Chinese products
This year, South Korea is expected to record a growth rate lower than that of Japan. The International Monetary Fund (IMF) has maintained its earlier projection of 1.4 percent for South Korea’s growth rate this year. Japan’s growth rate projection for this year has risen to 2.0 percent, expected to
As the sole operator of nuclear power plants in the country, Korea Hydro & Nuclear Power (KHNP) has turned its attention towards revitalizing nuclear small and medium-sized enterprises which have been struggling with a shortage of projects. The initiative begins with the Shin Hanul Nuclear Power Pla
Hana Financial Group recently attended an investor relations (IR) presentation targeting foreign investors in the Netherlands. This marks their third IR this year in Europe, following the joint financial IR in Singapore last May and the one in Hong Kong in September.On Oct. 6 (local time), Chairman
Last month, during the United Nations General Assembly, President Yoon Suk-yeol proposed the Carbon Free Alliance (CFA). Leading corporations such as Samsung Electronics, SK Hynix, and Hyundai Motor, which previously committed to RE100 (100% renewable energy), have now joined the alliance. The shift
The Korean shipbuilding industry, going through a severe labor shortage, is expanding its use of robots at shipyards. Korean shipbuilders are actively developing robots as a tool to boost competitiveness, as they believe that robots can increase their productivity and prevent accidents at workplaces
The U.S. Department of Commerce has imposed countervailing duties on Hyundai Steel and Dongkuk Steel, alleging that Korea’s cheap electricity rates are effectively subsidizing the Korean steel industry. This is the first time the U.S. government has slapped tariffs due to cheap electric power in a f
Over the past five years, the automotive company that received the highest amount of fines and penalties in South Korea was Mercedes-Benz Korea, the leading player in the imported car industry. The company had a cumulative amount of approximately 28 billion won.According to data obtained by Park San
According to data obtained by Park Sang-hyuk, a lawmaker and a member of the National Assembly’s National Transportation Committee, from the Ministry of Land, Infrastructure, and Transport on Oct. 5, there were a total of 1,341 registered foreign property rental operators in South Korea as of the en
A new technology for robot wheelchairs, which helps persons with lower-limb disabilities go up and down the stairs and move while staying standing, has been developed for the first time in the world.The Korea Institute of Machinery and Materials (President Sang-jin Park, hereinafter referred to as K
Korea’s industrial production, which had shrunken due to a slump in the semiconductor industry, made a comeback as semiconductor production rebounded.According to Statistics Korea on Oct. 4, the nation’s semiconductor production surged 13.4 percent month on month in August, the largest increase in f