KG Mobility has returned to profitability for the first time in seven years with its best-ever first-half performance in the first half of this year. The automaker gave credit for its popular Torres model, which showed brisk sales.KG Mobility announced on Aug. 2 that it sold 65,145 units in the firs
It has been found that the foreign ownership percentage of top market capitalization stocks has increased this year. Notably, foreign investors have extended their financial commitments into the domains of defense and construction.According to data released by the Korea Exchange on Aug. 2, the numbe
South Korea witnessed a notable decline of 8.2 percent in its per capita Gross Domestic Product (GDP) compared to the previous year, positioning the nation as the third-largest contraction among key global economies.According to data from the Organization for Economic Cooperation and Development (OE
The recent downgrade of the United States credit rating by Fitch due to fiscal deficits and government debt holds important lessons for South Korea, which finds itself grappling with an inability to break free from the addiction to expanding its fiscal measures. Under the stewardship of the Moon Jae
Hyundai Motor and Kia achieved double-digit sales growth in the United States in July, driven by their focus on eco-friendly vehicles. Remarkably, Kia marked a significant milestone with its twelfth consecutive month of setting new sales records.Hyundai Motor America (HMA) announced on Aug. 1 (local
Japanese automaker Toyota has achieved a significant milestone in its history during the second quarter of this year, surpassing 10 trillion yen in revenue for the first time and outpacing the sales of Hyundai Motor Group. However, Toyota’s market share has declined in critical markets such as the U
As global automakers such as Hyundai, Volkswagen, and Ford are establishing new electric vehicle production bases primarily in North America, domestic auto parts and electronics firms are following suit in droves. Even secondary suppliers are concentrating their new investments and employment in the
Hanwha Ocean is accelerating its management normalization, succeeding in its first contract since its establishment following its selection as the primary negotiator for a special naval ship.According to industry sources on Aug. 2, Hanwha Ocean signed its first shipbuilding contract with an Asian cl
Problems with power loss while driving continue to plague electric vehicles from several major brands. The issues have mostly been detected in their Integrated Power Control Units (ICCU), but other causes have also been identified. Although the history of electric vehicles is still short and require
With the possibility that BOE, a Chinese display company, may not supply panels for Apple’s forthcoming iPhone 15 series slated for release in the third quarter, there is growing optimism that Samsung Display and LG Display could reap significant benefits in the second half of the year.According to
South Korea, the United States, and Japan recently and simultaneously announced that a trilateral summit involving President Yoon Suk-yeol of Korea, President Joe Biden of the United States, and Prime Minister Fumio Kishida of Japan will be held at Camp David, the U.S. Presidential Retreat, on Aug.
HANMI Semiconductor announced on Aug. 2 that it has commenced operation of the “Bonder Factory” to enhance the production capacity of the Dual TC Bonder, an essential piece of equipment for the production process of AI semiconductor wideband memory (HBM).The Bonder Factory has been established in Pl
On Aug. 2, the Korea National Railway announced that it has secured a contract for the “Preliminary Survey for the Construction and Operation of Tajikistan’s Urban Railway” as part of the “2023/24 KSP Policy Consultation Project” managed by the Ministry of Strategy and Finance and implemented by the
Samsung Bioepis is said to be reviewing the acquisition of the biosimilar business unit of U.S. biotech firm Biogen.According to the biotech industry on Aug. 2, Samsung Bioepis is considering acquiring Biogen’s biosimilar business unit, which has recently been put up for sale.Biogen has been a colla
The author is an analyst for NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.Specialized steel pipe manufacturer Nexteel boasts sound earnings, with its raw materials cost-ASP spread widening amid strong US demand for energy pipes. Utilizing funds to be raised through
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.GC Biopharma delivered solid 2Q23 OP of W23.7bn, backed by: 1) advance recognition of 3Q23 domestic vaccine sales; and 2) cost control efforts at the nutritional foods business. In 3Q23, some earning
The author is an analyst for Shinhan Securities. He can be reached at heeyeon.lim@shinhan.com -- Ed.2Q operating loss of KRW12.6bn in line with expectationsKakaopay posted decent 2Q23 preliminary results with consolidated operating loss of KRW12.6bn (continued loss QoQ) on sales of KRW148.9bn (+5.2%
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.After-sales parts division entering the home stretch to recoveryThe key variable determining auto sector earnings has been shifting from ASP levels (inflation) in 2022 to the normalization of supply chai
Korea’s trade balance posted a surplus for the second consecutive month thanks to a sharp drop in imports, mainly energy imports. Although Korea’s switch to a trade surplus has been accelerated, a rebound in exports, which have continued to decline, remains a challenge for Corporate Korea.According
In July, Korean-based carmakers’ sales in Korea fell for the first time in 11 months.According to the Korea Automobile Manufacturers Association (KAMA) on Aug. 1, the domestic sales including complete knock down car sales of five Korean-based carmakers including Hyundai Motor, Kia Corp., GM Korea, a