Hyundai Motor’s labor union announced a four-hour partial strike for two days starting Sept. 13 after hitting a snag in their wage and collective bargaining negotiations with the management. If the labor union goes on strike, it will mark the first strike in five years since 2018.According to source
Equinor, a Norwegian broad energy company, announced the signing of a Memorandum of Understanding (MoU) with POSCO International on September 7. Under the MoU, the companies will explore a broad energy transition collaboration across offshore wind, hydrogen value chains, steel and LNG supply.The agr
While Korea Electric Power Corporation (KEPCO) annually purchases electricity generated through renewable energy, it was revealed on Sept. 7 that the mandatory supply ratio will significantly increase from 13% this year to 17% by 2027.According to data released by People Power Party’s Yang Geum-hee’
Last year, due to the surge in demand for electric vehicles (EVs), prices of core battery minerals like lithium and nickel reached a peak. However, they have been on a decline recently. Battery cathode material companies that purchased these minerals when they were expensive are now facing challenge
On Sept. 7, the Incheon International Airport Corporation announced that Incheon Airport achieved re-certification of the highest level, Level 5, for customer experience during the “5th Customer Experience Global Summit” held in Incheon on Sept. 6.Customer experience pertains to the entire journey,
OCI Holdings is anticipated to enjoy long-term benefits resulting from the United States’ intensified sanctions on China’s polysilicon. There are only three non-Chinese polysilicon manufacturers globally, and OCI Holdings is one of them in Korea.According to sources in the solar energy industry on S
The Export-Import Bank of Korea (Korea Eximbank) announced on Sept. 7 that it has signed a memorandum of understanding (MOU) with Export Finance Australia (EFA) at its headquarters in Seoul to collaborate on stabilizing the core mineral supply chain. EFA, Australia’s official export credit agency, s
Specialized patent examiners in the field of semiconductors, which has acquired crucial technologies over more than 30 years in private semiconductor companies such as Samsung Electronics and SK hynix, are being further expanded this year to contribute to securing the nation’s competitiveness. Parti
South Korea and Japan are set to resume their regular financial supervision meetings, or shuttle meetings, that had been suspended since 2017. Financial Services Commission (FSC) Chairman Kim Joo-hyun plans to visit Japan in early October to discuss expanding financial exchanges. This development co
In the field of fabless, which specializes in designing semiconductor chips, it has been revealed that the competitiveness of domestic companies is lagging behind not only the United States and Taiwan but also China. While the global revenue share of domestic fabless companies remains in the 1 perce
According to sources from the business sector on Sept. 7, Lotte Group Chairman Shin Dong-bin is considering a visit to Vietnam on Sept. 22 to attend the grand opening ceremony of “Lotte Mall West Lake Hanoi” operated by Lotte Shopping.Lotte is opening Lotte Mall West Lake Hanoi to expand its presenc
For the first time in its 55-year history, POSCO, which has maintained a “no-strike” record, is now on the brink of a labor strike. Following a breakdown in wage and collective agreement negotiations with the company, the union has been conducting a strategic committee launch ceremony for two consec
Kia’s flagship model, the EV9, is struggling in the domestic market just three months after its launch.According to industry sources on Sept. 7, Kia announced on Sept. 1 that during the recent period it sold 408 units of the EV9 in the domestic market, a decline of over 67% compared to July. In its
According to industry sources on Sept. 7, wage negotiations between Samsung Electronics and its union have been on hold since April 21, prolonging the cooling-off period.Other electronics affiliates within the group, such as Samsung Display and Samsung Electro-Mechanics, concluded their wage negotia
On Sept. 7, SK hynix addressed reports that its semiconductors have been found in China’s Huawei mobile phones, which are subject to U.S. sanctions. The company stated, “We have not had any dealings with Huawei,” and are looking into the circumstances of the situation.Bloomberg reported on Sept. 7 t
Of the 1.75 million foreigners living in South Korea in 2022, two out of 10 faced discrimination at shops, restaurants, banks, and workplaces, according to a survey by Statistics Korea.Statistics Korea’s Statistics Research Institute released the results of its analysis on “Foreign Residents’ Lives
The Financial Supervisory Service (FSS) has called on foreign securities firms to make self-cleaning efforts to eradicate recurring illegal naked short selling. This means that the FSS has urged the foreign securities firms to learn how Korea’s regulations differ from international practices and to
Chung Ki-sun, president of HD Hyundai, will meet with Yasir Al-Rumayyan, governor of the Public Investment Fund of Saudi Arabia and chairman of Saudi Aramco, to discuss business cooperation during the latter’s visit to Korea from Sept. 6-8.Chung will meet with Al-Rumayyan at HD Hyundai’s headquarter
The author is an analyst for Shinhan Securities. He can be reached at jinmyung.lee93@shinhan.com -- Ed.Market correction nearing an endHyosung TNC shares enjoyed a rally early this year on hopes for China’s economic reopening and robust earnings, but pared all their gains during the steep correction
HD Korea Shipbuilding & Offshore Engineering (KSOE), the intermediate holding company of HD Hyundai, has surpassed its annual order-taking target of US$15.74 billion this year. This marks the third consecutive year of attaining the goal earlier than expected, following 2021 and 2022.In a public disc