The three major Korean battery makers -- LG Energy Solution, Samsung SDI, and SK On -- are expected to invest up to 20 trillion won in 2023 to ramp up their production capacities at home and abroad.This year, the three battery makers are expanding their production capacities by 135 gigawatt hours (G
South Korea's current account surplus dropped from US$85.23 billion in 2021 to an 11-year low of US$29.83 billion in 2022. This is because its goods account surplus dropped with energy prices soaring to cause an overwhelming increase in imports.The same is likely to apply to this year. The South
Bloomberg reported that Ford and CATL are likely to build a plant in Michigan to invest US$3.5 billion together and create at least 2,500 jobs.According to the report, Ford is likely to own 100 percent of the plant and batteries to be produced there are likely to be based on CATL technologies. Ford
South Korea’s silicon wafer imports from Japan totaled US$202.9 million in the fourth quarter of last year, down 26.66 percent from a year ago. This is because Samsung Electronics and SK Hynix reduced their imports with business conditions deteriorating.The two companies are showing a rapid increase
SK Holdings C&C won the Carbon Management Sector Honors in the industrial materials category for the second consecutive year at the 2022 CDP Korea Awards held at the Glad Hotel in Yeouido, Seoul on Feb. 10.The Carbon Disclosure Project (CDP) is a not-for-profit charity that runs a global disclosure
Korean companies are working hard to help Turkey and Syria, which were hit hard by massive earthquakes. They are continuing to donate money and deliver relief goods for earthquake recovery and rescue work in Turkey.On Feb. 10, Samsung Electronics decided to provide a total of US$3 million in cash an
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Maintain BUY, target price of KRW77,000 We maintain BUY and TP of KRW123,000 on KIH. 4Q22 earnings were hit by large-scale provisioning and valuation losses for non-marketable assets, such as real estate projec
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed.4Q22 earnings miss expectations on non-recurring factors; China market recovery to be keyㅡ HL Mando saw OP miss the market consensus but come roughly in line when excluding non-recurring factors. The effect
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. HYBE America acquires QC Media Holdingsㅡ HYBE America’s QCM HoldCo LLC announced the acquisition of QC Media Holdings stock.ㅡ The acquisition will be financed with the issuance of new shares worth KRW339.0bn
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. LG Corp is expected to strengthen its business portfolio, using its net cash holdings of W1.6tn for M&As and CVC establishment. Also, its dividend income should rise, leading to a steady increa
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. While sales are falling ahead of the release of new titles, momentum related to TL (to launch in 2Q23) is rising. We recommend using share price dips as buying opportunities. Four new titles sche
Pernod Ricard Korea donated 100 million won in scholarships to 54 Gugak talented students at the National Gugak School to foster performers who will lead the next generation of Korean traditional arts and music culture.Frantz Hotton, CEO of Pernod Ricard Korea, congratulated scholarship recipients a
Doosan Fuel Cell is planning to develop overseas markets to expand its hydrogen business.The company announced on Feb. 9 that it signed a statement of cooperation with the South Australian government and HyAxiom, a subsidiary of Doosan Corp., at the Four Seasons Hotel Seoul in Gwanghwamun to foster
KT Cloud signed a memorandum of understanding (MOU) with Hewlett-Packard Enterprise for cooperation in the IDC integrated infrastructure business.With this agreement, the two companies will introduce services that combine infrastructure/networks, solutions, and marketing/sales capabilities to implem
The Korea Power Exchange (KPX) hosted a Bloomberg NEF (BNEF) seminar on carbon neutrality responses at its headquarters on Feb. 8.In the seminar, energy experts from BNEF offered in-depth analyses on the impacts of carbon neutrality on the electric power industry and electric power demand. Ali Izadi
Shinhan Financial Group announced on Feb. 9 that it has been included in the Platinum Club of the Carbon Disclosure Project (CDP) Korea for two consecutive years.The CDP is a global project commissioned by global financial investment institutions to induce major global companies to disclose informat
The KAIST Center for Global Public Procurement opened a door so that 16 South Korean companies with innovative technologies can participate in the procurement market of Massachusetts for seven years to come. For reference, the procurement market of the U.S. federal government has a size of approxima
The Ministry of Trade, Industry and Energy had a meeting with potential investors in the U.S. hydrogen industry at the Hydrogen & Fuel Cell Seminar (HFCS) that took place in Long Beach, California on Feb. 8.This year, South Korea participated as a host country in the HFCS hosted by the U.S. Fuel Cel
The Ministry of Trade, Industry and Energy announced on Feb. 9 that its budget investment in green and self-driving car R&D would be 499.4 billion won this year. For reference, the same budget was approximately 435 billion won last year.This year’s budget spending consists of 229.3 billion won in gr
The Korea Fair Trade Commission announced on Feb. 9 that it would impose a fine of 42.3 billion won on Mercedes-Benz, BMW and Audi with regard to software tampering related to diesel exhaust fluid (DEF). The fines on them are 20.7 billion won, 15.7 billion won and 6 billion won, respectively.The com