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
Intel’s drive to strengthen its foundry business poses a new threat to Samsung Electronics, which is in hot pursuit of TSMC. However, as a latecomer to the foundry business, it is difficult for Intel to expand its external customer volume in the short term. This makes analysts say that Intel is stil
Taihan Cable & Solution has successfully developed the world's most advanced HVDC cable.Taihan (CEO Song Jong-min) announced on August 2 that it has completed the development of a 525kV VSC (Voltage Source Converter) HVDC (High Voltage Direct Current) land cable system and obtained international
Korea’s largest shipping company HMM has acquired a second-hand large bulk carrier on the M&A market. The shipping company has started to diversify its business with its record operating profits in 2022, analysts say.Korean shipping company HMM acquired a Newcastlemax dry bulk carrier from Germany’s
HD Hyundai, which has an unrivaled presence in the world marine engine market, has further strengthened its position with the acquisition of STX Heavy Industries. This acquisition has enabled HD Hyundai to solidify its competitive advantage over Hanwha Ocean in the global marine engine market, exper
Despite Samsung’s withdrawal from the Russian market after the Russian-Ukrainian war began, preorders for the Galaxy Z5 series have begun in Russia. Although the new Samsung foldable phone is drawing attention in Russia, the Russian government is expected to impose sanctions on Samsung Electronics s
The market capitalization of conglomerate subsidiaries listed on the KOSPI has shown a sharp increase of approximately 350 trillion won (US$271.21 billion) compared to the beginning of the year. Particularly, 17 companies affiliated with Samsung Group recorded the largest increase, with their combin
In the past month, the amount of short-selling in the domestic stock market reached its highest level ever. The surge in stock prices was triggered by a large influx of investment in secondary batteries, mainly led by individual investors.According to KOSCOM on Aug. 1, the total short-selling volume
The demand for high-performance memory semiconductors essential for AI chips is experiencing explosive growth due to the escalating demand for AI chips among global tech companies involved in the cloud server business. Consequently, there are high expectations for the upcoming business prospects of
South Korean battery enterprises are ramping up their efforts to expand into the rapidly growing energy storage system (ESS) battery market, which is experiencing a growth trajectory on par with the electric vehicle sector. Notably, LG Energy Solution, which was once a front-runner in the ESS market
SK Inc. has laid out an ambitious plan to invest 23 trillion won (US$17.82 billion) in eco-friendly initiatives by 2025, with a primary focus on “energy transition.” SK Group Chairman Chey Tae-won has shown keen interest in transforming SK’s business landscape from a petroleum-centric structure to o
As Kia’s July sales report was released, it was revealed that the sales of its flagship electric SUV, the EV9, which was launched last June, has decreased just two months after its launch. Critics point to the faded “new car effect” as the EV9’s sales have stumbled amid recent controversies over “po
According to industry sources on Aug. 1, the LG Group is planning to double its current investment in U.S. Silicon Valley venture companies through its Corporate Venture Capital firm, LG Technology Ventures, to 1 trillion won. The aim is to synergize with the future businesses of each LG Group affil
As Samsung and LG are intensifying their strategies to capture the global market for Organic Light-Emitting Diode (OLED) TVs, Japanese companies such as Sony and Sharp are tightening their pursuit. This mirrors previous competition between the two countries in the Liquid Crystal Display (LCD) market
Despite a global recession, the market for automotive organic light-emitting diodes (OLEDs) is demonstrating considerable growth, intensifying the rivalry between Samsung Display and LG Display.LG Display has previously dominated the market, but Samsung Display is swiftly catching up, securing a ser
Samsung Electronics plans to supply essential components for graphics processing units (GPUs), the high-bandwidth memory (HBM), and advanced packaging services to U.S.-based semiconductor company Nvidia.According to semiconductor industry sources on Aug. 1, Samsung Electronics is currently working w
On its 10th anniversary on Aug. 1, NHN unveiled its new brand slogan, “Weaving New Play,” and also presented a growth strategy to achieve its group vision of “a global top-tier tech company.”Weaving New Play encapsulates the meaning of “creating a new tomorrow through our connections.” The services
Kakao Entertainment announced on Aug. 1 that it has integrated the roles of Kakao Entertainment America and SM Entertainment USA to launch a new corporation.The new corporation will oversee the overseas advancement and development of new intellectual property (IP) for artists from both companies. It
Hyundai Engineering & Construction (Hyundai E&C) has secured a contract to construct a high voltage direct current (HVDC) transmission line in Saudi Arabia.According to Hyundai E&C on Aug. 1, the company has signed a contract for the “Saudi Neom-Yanbu 525kV HVDC Transmission Line Construction Projec
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.2Q OP meets expectations at KRW16.7bn (+14% YoY, +4% QoQ)W-Scope Chungju Plant (WCP) posted operating profit of KRW16.7bn (+14% YoY, +4% QoQ) on sales of KRW76bn (+21% YoY, +1% QoQ) for 2Q23, coming in l