SK Group chairman Chey Tae-won met with Conni Jonsson, chairman of Swedish investment company EQT Partners AB, which is affiliated with the Wallenberg Family, on Dec. 3 and discussed ways to cooperate with each other.The Wallenberg Family is considered one of the world’s best business groups in the
SK Group is seeking to appease the Chinese government after the United States put the brakes on its plan to bring in advanced semiconductor equipment to its Chinese plant.Seo Jin-woo, the group's vice chairman in charge of its China business, met with Wu Zhenglong, governor of Jiangsu Province,
POSCO Chemical and GM announced on Dec. 2 that they will establish a joint venture to construct a plant in North America to process cathode active materials to be used for GM's Ultium electric vehicle batteries.The two companies said the location of the facility, which will open in 2024, and the
Hyundai Engineering announced on Dec. 2 that it has signed a memorandum of understanding (MOU) with the Korea Atomic Energy Research Institute (KAERI), the North Gyeongsang Province Government, Handong University, the Provincial Government of Alberta in Canada, Calgary University of Canada and CKBC,
The authors are analysts of Shinhan Investment Corp. They can be reached at hyungwou@shinhan.com and doyeon@shinhan.com, respectively. -- Ed. Samsung smartphone shipments at bottom levels in 2020-2021Even under the influence of the COVID-19 pandemic, IT hardware demand remained solid over the past y
LG Electronics will push for internalization of automotive chip development. A shortage of semiconductors for vehicles such as microcontroller units (MCUs) has affected production of automobiles and automobile parts.The company is promoting MCU development. Its CTO division is hiring engineers with
SK Group’s holding company SK Inc. has merged with SK Materials, a semiconductor and display material affiliate. The merged company was officially launched on Dec. 1SK Inc. announced the merger plan in August. It decided to merge SK Materials in a bid to secure a competitive advantage in four areas
The authors are analysts of Shinhan Investment Corp. They can be reached at eoyeon.hwang@shinhan.com and younghoon.song@shinhan.com, respectively. – Ed. 4Q21 OP to meet consensus at KRW29.1bn (+39.0% YoY)Nex1 will likely post sales of KRW576.4bn (+18.4% YoY) and operating profit of KRW29.1bn (+39.0%
SK Bioscience has partnered with the International Vaccine Institute to launch a "Vaccine Nobel Prize" for people, organizations, and groups who make significant achievements and contributions in the global vaccine industry. SK Bioscience announced on Nov. 30 that it signed an agreement with the IVI
Statistics Korea announced on Nov. 30 that South Korea’s total industrial output index fell 1.9 percent month on month to 110.8 in October this year, and the rate of decrease is the highest since April last year.“The mining and manufacturing output fell 3 percent and for the third consecutive month
The Nikkei reported on Nov. 30 that the Q3 inventory of five automotive chip manufacturers (Renesas Electronics, NXP Semiconductors, Infineon, STMicroelectronics and Texas Instruments) increased 0.7 percent as compared with the same period of last year.“The inventory increased for the first time in
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com. -- Ed. We raise our TP on LGI in reflection of upward adjustments to our earnings estimates, following a North American client’s shipment growth and market share expansion. Over the mid/long term, the fi
LCD panel prices are on the decline these days after a steep rise since last year. The strong rebound in LCD panel prices led Samsung Display and LG Display to shelve their plans to withdraw from the LCD market. Yet, they are now considering terminating their LCD business again as LCD panel prices h
SK Square, which was split off from SK Telecom, has chosen blockchain and metaverse-related companies as its first investment targets.SK Square announced on Nov. 29 that it has invested about 90 billion won in Korbit, a Korean virtual currency exchange, to acquire a 35 percent stake in it. As a resu
The government’s Hydrogen Economy Committee, chaired by the prime minister, announced its first basic plan for a transition to the hydrogen economy on Nov. 26, charting a new direction for the domestic hydrogen industry. Now, Korean companies are expected to start investing in hydrogen in earnest. T
Samsung Electronics announced on Nov. 30 that it has introduced three of its latest automotive chip solutions: the Exynos Auto T5123 for 5G connectivity, the Exynos Auto V7 for comprehensive in-vehicle infotainment (IVI) systems, and the ASIL-B certified S2VPS01 power management IC (PMIC) for the Au
Hyundai Motor Co. will start exporting the Creta, the first Hyundai model made in Indonesia. Makmur, chief operating officer (COO) of PT Hyundai Motors Indonesia, said on Nov. 29 that the company will start exporting the popular sub-compact sports utility vehicle (SUV), according to local media repo
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com and ys.jung@nhqv.com, respectively. -- Ed. Under its recently announced 1st Basic Plan for the Implementation of the Hydrogen Economy, the government plans to expand hydrogen utilization and build larg
Hankook Tire & Technology and its union have ended their 59 years of strike-free settlement of wage negotiations.The union went on strike beginning from 6 a.m. on Nov. 24 following the breakdown of their wage and collective bargaining negotiations with the management. As a result, tire production (7
The South Korean government has decided to turn hydrogen into South Korea’s biggest energy source by 2050. To this end, it will expand hydrogen-based power generation while increasing the supply of clean hydrogen, replace 100 percent of fuels in the steel and chemical industries with hydrogen, incre