The Hyundai Motor labor union has declared a breakdown in wage and collective bargaining negotiations this year and has begun preparations for a strike. If the union actually goes on strike, it will mark the first strike in five years.As of Aug. 20, the possibility of a strike in and around Hyundai
SK on announced today it will establish a cathode manufacturing facility in Canada with global major automaker Ford Motor and cathode producer EcoPro BM as they joined a move to strengthen a value chain covering from key battery materials to electric vehicles (EVs). Cathode is a core material determ
South Korea’s household electricity rates are 40 percent of Japan’s, making it cheaper compared to the G7 countries, according to a new report.Japan’s Nikkei calculated the 2022 household electricity bills of the G7 countries based on International Energy Agency (IEA) statistics and found that Italy
The Korean government will issue yen-denominated foreign exchange stabilization bonds, also known as samurai bonds, for the first time since the 1998 foreign exchange crisis in Korea. Private investors, including major Japanese banks, are being targeted. They are expected to help Korean companies to
A slow recovery in demand for NAND flash memory compared to DRAM has put the semiconductor industry, including Samsung Electronics and SK hynix, into a hard spot. This is because the growth of the artificial intelligence (AI) industry leading to the improved profitability of DRAM is begetting a nega
LG Magna e-Powertrain, an electric vehicle parts joint venture between Korea’s LG Electronics and Canada’s Magnet International, is continuing to invest heavily in overseas factories in China and Mexico.LG Magna recently decided to invest 40.7 billion won (US$30.5 million) in its Nanjing production
International credit rating agency Moody’s revised SK innovation’s rating outlook to stable from negative on Aug. 16. Its rating remained at Baa3.Moody’s categorizes a company’s credit rating from Aaa to C and evaluates its ability to repay its principal and interest. The outlook is a forecast of ho
Global leading tire company Hankook Tire & Technology (Hankook Tire) has published its 2022/23 ESG Report, highlighting its sustainability activities, performance, and mid- and long-term strategies for the year.Based on Hankook Tire’s environmental, social, and governance (ESG) vision system – “Inno
With the increasing utilization of renewable energy sources such as solar and wind power, which generate varying outputs depending on weather conditions, the frequency of “curtailment,” which means generating less power than planned, in nuclear power generation has risen fourfold compared to two yea
China-based CATL, the world’s leading electric vehicle battery company, has unveiled a lithium iron phosphate (LFP) battery that can cover up to 400 km on a 10-minute charge. With the increasing adoption of LFP batteries in the global electric vehicle market, the news has caught the attention of Sou
Hapag-Lloyd, based in Germany and the fifth-largest shipping company in the world, is currently considering participating in the acquisition bid for Hyundai Merchant Marine (HMM), the largest shipping company in South Korea, which is currently offering a sale.According to investment banking (IB) ind
On Aug. 17, GC Cell announced that its U.S. affiliate, Artiva Biotherapeutics, has received approval from the U.S. FDA for the Investigational New Drug application of its AB-101 natural killer (NK) cell therapy for lupus nephritis.Lupus is an autoimmune disease caused by immune system abnormalities
On Aug. 17, Seojin System announced that it had signed a 550 billion won ESS supply contract with Fluence Energy. This represents about 7% of its revenue from the previous year, and the contract period is from Aug. 24 to June 11, 2024.Since its initial large-scale order of over 2.4 trillion won (US$
On Aug. 17, Celltrion Inc. announced its decision to merge with Celltrion Healthcare Co. Through its disclosure, Celltrion explained that the decision to merge was made to integrate assets for large-scale investments, enhance cost competitiveness through the integration of development, production, a
Samsung Electronics’ sales in China for the first half of this year have declined by more than 12 trillion won compared to the same period last year. There are visible signs of Samsung’s movement away from China, with both the number of their operational facilities and employees in the country on th
The author is an analyst for NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.LS Holdings’ earnings momentum is being ramped up by the consolidation of LS MnM. Portfolio enhancement is in progress via capacity expansion and stake increase in subsidiaries. Moreover, shareh
Hankook Precision Works Co., Ltd., an affiliate of Hankook & Company, and 3D printing specialist company Tera Works co-launched a new 3D Printing Convergence Technology Center at the Hankook Engineering Lab in Yuseong-gu, Daejeon Metropolitan City, driving new momentum in new businesses using 3D pri
Korea’s trade balance in the information and communications technology (ICT) industry provisionally reached a surplus of US$3.19 billion in July after a slowdown in a drop in exports from April to June.The Ministry of Trade, Industry and Energy (MOTIE) said on Aug. 16 that ICT exports reached US$14.
The U.S. International Trade Commission (ITC) has conceded a defeat in the five-year-long washing machine war between the United States and Korea, but Korean companies are complaining that a more complicated situation is facing them. Samsung Electronics and LG Electronics have been able to increase
The Korean Ministry of Science and ICT will enter the global market for open radio access network (ORAN) services in earnest with the public-private partnership front and center.On Aug. 16, the ministry announced the direction of its ORAN policies and will hold a proclamation ceremony for the ORAN I