China’s trade deficit with South Korea is decreasing fast. The General Administration of Customs of China announced on March 12 that exports from China to South Korea totaled US$24.026 billion in January and February this year, when China’s imports from South Korea were US$24.313 billion.The gap bet
Subsidies in green industries are increasing in the United States, Japan, China and the European Union, and South Korean companies are planning to increase their investments there as well.This trend is because those governments are regarding energy as a key factor of national security. Until recentl
Unionized Asiana Airlines workers are calling the merger with Korean Air into question again after doing so previously in October last year.“Airport slots and traffic rights decreased each time the merger was approved abroad, including in the United Kingdom and China as the most recent cases, and th
Lotte Chemical held a meeting on March 9 with Louisiana Governor John Bel Edwards; Vice Chairman Kim Kyo-hyun of LOTTE Chemicals; and Hwang Jin-koo, head of the Basic Materials Business Division at Lotte Chemical at Lotte World Tower to strengthen the partnership between the company and the U.S. sta
Daewoo E&C has won a power generation project worth US$790 million (1 trillion won) in Libya.Daewoo E&C announced on Tuesday that it has signed a contract to carry out the Mellitah/Misurata Fast Track Power Generation Project with the General Electricity Company of Libya (GECOL).The project will bui
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com. -- Ed.International passenger demand remained on a solid recovery track in February. LCCs are showing robust flight fares, but these prices will likely stabilize after 1Q23. With more flights to China and
The Industrial Bank of Korea (IBK) is facing a 6.5 trillion won (US$4.9 billion) lawsuit. The people who filed the lawsuit are the victims of serial bombings of the U.S. embassies in Kenya and Tanzania and their bereaved families.In 1998, a series of bombings hit U.S. embassies in Kenya and Tanzania
A Goldman Sachs report evaluated that the Yoon Suk-yeol government’s reorganization of capital market policies to expand shareholder rights and interests and strong winds of shareholder activism in the Korean stock market are positive in resolving the Korea discount which undervalues the Korean stoc
As methanol-powered ships are rapidly emerging as next-generation eco-friendly ships, competition is heating up between Korean and Chinese shipbuilders about which is taking more shipbuilding orders. Until now, Korea has been leading the high value-added eco-friendly ship market, but Chinese shipbui
SK Networks has made a major investment in an artificial intelligence (AI) startup in the United States. The investment was led by Choi Sung-hwan, president of SK Networks’ business division, who led a global investment briefing session last month.SK Networks announced on March 9 that it had investe
S-OIL announced on March 9 that it held a groundbreaking ceremony for the Shaheen Project which will invest 9.258 trillion won (US$6.985 billion), at its plant in county of Ulju in Ulsan, South Korea. About 300 officials attended the groundbreaking ceremony, including President Yoon Suk-yeol and Sau
LG Electronics will make Vietnam a research and development (R&D) base for the VS Business Division for the automotive electronics business. To this end, it plans to strengthen its R&D capabilities by turning the R&D center of a local production corporation to an independent corporation. The Vietnam
A high-ranking official of Rapidus, established with the goal of restoring Japan’s leadership in the semiconductor industry, criticized the U.S. government’s semiconductor regulations while calling them “too aggressive.”“Rapidus also has a lot of worries,” said Yasumitsu Ori, a senior executive offi
Pernod Ricard Korea, the Korean unit of the global wine and spirits company Pernod Ricard, is conducting a responsible drinking workshop for its sales representatives and brand ambassadors on the prevention of risks from excessive drinking and the harmful use of alcohol. The workshop will be held in
In 2022, Samsung Electronics’ investment reached a record high of about 53 trillion won. Of the amount, more than 90 percent was concentrated on the semiconductor sector alone.According to a Samsung Electronics business report released on March 8, the Korean tech giant’s facility investment totaled
The European Union (EU) has extended the deadline for announcing the result of its review of a merger between Korean Air and Asiana Airlines.On March 8, the European Commission (EC) announced that it would put off making a decision on whether to approve the merger scheduled for July 6 for another 20
PricewaterhouseCoopers (PWC) released its Women in Work Index on March 8, which is related to the employment of women in 33 OECD member states.According to the index, the male-female wage gap of South Korea is 31.1 percent, the highest in the group. The opposite is Luxembourg with 0.5 percent. The g
Bentley CEO Adrian Hallmark met with the press in Seoul on March 8 and stressed the importance of South Korea as its market.Bentley sold 775 cars in South Korea last year. The volume hit an all-time high for the second consecutive year. Last year, it sold 2,031 cars in the Asia-Pacific region with S
Insurance companies are supposed to submit their tenth preparedness assessment reports to the Financial Supervisory Service by this month regarding the Korea Insurance Capital Standard (K-ICS) based on IFRS 17 introduced this year.According to industry sources, major insurers are well prepared for t
LG Energy Solution and GM founded Ultium Cells in 2019 to manufacture EV batteries together. SK On and Ford set up Blue Oval SK in July last year for the same purpose. Samsung SDI is also planning to work with GM to that end. There are a total of 13 EV battery plants that have already been built or