Hyundai Motor Group came in second after Tesla in the first three quarters of this year as the number of electric vehicle (EV) registrations in the United States surged despite concerns over slowing demand for EVs.According to a report by Automotive News Nov. 12, a U.S. automotive publication, the n
China is accelerating its stride toward semiconductor self-sufficiency as a countermeasure to U.S. semiconductor export controls. Despite the challenges posed by U.S. restrictions, China’s push for semiconductor autonomy seems to be increasingly fruitful.According to industry sources on Nov. 9, the
Korean intermediate goods exporters have been entering Vietnam in large numbers after exiting the Chinese market for several years. But the share of Korean intermediate goods has been on the decline in the Vietnamese market since 2017. This is because Chinese intermediate products are rapidly replac
While Korea’s exports rebounded for the first time in 13 months in October, the value of Korea’s exports to Eastern European countries surged. Eastern European countries included Poland, Hungary and Turkiye. In general, they had previously accounted for small proportions of Korea’s exports.The Korea
Korea has posted a current account surplus for the fifth consecutive month. The Bank of Korea (BOK) forecast that Korea will be able to reach an annual current account surplus of US$27 billion by steadily enjoying current account surpluses.The BOK said on Nov. 8 that the current account posted a sur
The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Justice (MOJ) announced on Nov. 7 that a total of 14,359 production workers were injected into the Korean shipbuilding industry through the first three quarters of this year. The workers included Korean workers, foreign specializ
Three core semiconductor and display materials that Japan put restrictions on when they were exported to Korea in 2019 were extreme ultraviolet (EUV) photoresist, hydrogen fluoride, and flurinated polyimide. Unlike the localization of hydrogen fluoride and flurinated polyimide, Korea has been slow i
China’s exports have continued to fall for three consecutive months.According to the General Administration of Customs of China, China’s exports in October amounted to US$274.83 billion, a decrease of 6.4% compared to the same month last year. This decline exceeded the previous month’s drop of 6.2%
Hyosung Heavy Industries conducted a shipment ceremony on Nov. 6 in Haman, South Gyeongsang Province, for the delivery of a container-type Static Synchronous Compensator (STATCOM), a stationary reactive power compensation device, to Japan’s Steel CompanyThe exported product is the first instance of
Chong Kun Dang announced on Nov. 6 that it has entered into a technology export agreement with Novartis worth US$1.305 billion for its new drug candidate CKD-510.Under the agreement, Novartis obtains exclusive rights outside of South Korea for the development and commercialization of CKD-510, a low-
The author is an analyst for NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.Adhering to Hyosung TNC as our petrochemical industry top pick, we raise our TP by 18% to W520,000. With the price of spandex remaining strong despite raw material price decrease, the spandex spread
At HD Hyundai Heavy Industries’ Ulsan yard, the future of South Korea’s naval defense is being forged. The Republic of Korea Navy’s next-generation Aegis destroyer (KDX-III Batch-II) King Jeongjo the Great was successfully launched last July and is awaiting operational deployment. The lead ship in t
The Korean defense industry is growing rapidly as the world recognizes the excellence of Korean-made weapons. At the center of the Korean Defense Industry gripping the global arms market is the Korea Defense Industry Association (KDIA).Founded in 1976, the KDIA is a specialized defense industry orga
As the sole company with a comprehensive portfolio in the naval industry, Hanwha Ocean contributes to strengthening the Republic of Korea’s naval power by leveraging world-class vessel and submarine construction capabilities.Starting with the delivery of the patrol vessel “Anyang” to the Republic of
The strength of the U.S. dollar, along with measures to stabilize the market and prevent further depreciation of the South Korean won, has resulted in a decline in foreign exchange reserves for the third consecutive month.According to foreign reserves statistics released by the Bank of Korea on Nov.
Samsung Electronics and SK hynix are igniting a market recovery for NAND flash, which has been slower to rebound compared to DRAM, by transitioning processes and reducing production.On Nov. 3, industry insiders forecasted that NAND would still take more time to recover due to its higher inventory le
SK Innovation has successfully achieved a turnaround to profitability within just one quarter, driven by the growth in its overall business profits. The battery division has improved its chances of turning a profit in the fourth quarter, recording its historically lowest operating losses. Meanwhile,
Samsung Display filed a complaint with the U.S. International Trade Commission (ITC) against China’s BOE, the world’s largest liquid crystal display (LCD) panel maker and Samsung Display’s largest display competitor. Samsung Display claims BOE stole its technology. This is separate from an ongoing p
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Combined new orders for the three major domestic shipbuilders in 2023 are expected to exceed guidance. Orderbooks should expand in 2024, led by strong LNGC demand. Results for 3Q23 show full-scale re
In October, Korea’s exports turned positive for the first time in 13 months, and the nation’s trade balance has been positive for five consecutive months since June. It was the first time in 20 months since February 2022 that exports rebounded and the nation posted a trade surplus at the same time.A