The Korea Chamber of Commerce and Industry (KCCI) suggested in a report that Korea cooperate with major Middle Eastern countries such as Saudi Arabia, the United Arab Emirates (UAE), and Qatar in the fields of future energy, electric vehicles and defense.The KCCI released the report on economic coop
Hyundai Motor and Kia Motors have successfully settled their wage and collective bargaining agreements (CBA) without labor disputes for the second consecutive year, but the aftermath poses significant challenges. The labor unions of Hyundai and Kia have managed to secure the highest-ever wage increa
Amid tensions between the U.S. and China, domestic businesses are growing increasingly anxious as China includes graphite, a crucial component for secondary batteries, in its export control list. This move towards controlling not just gallium and germanium but also graphite by China in the second ha
Over the past seven years, the Korea Fair Trade Commission (KFTC) has fined big Korean companies more than 4 trillion won for violating the Fair Trade Act and other laws.Among them, the KFTC imposed the largest amount of fines (265.5 billion won for nine cases) on Hyundai Motor Company. The amount o
Hanwha Aerospace announced on Oct. 19 that it has signed a component contract worth approximately 235.6 billion won (US$174.4 million) with Vertical Aerospace (VA), a global urban air mobility (UAM) company, at Seoul ADEX 2023.Under this agreement, Hanwha Aerospace will supply its Tilting & Blade Pi
President Yoon Suk-yeol will visit Saudi Arabia and Qatar on a four-day, six-night state visit starting on Oct. 21. This will mark the first time a Korean head of state has paid a state visit to Saudi Arabia and Qatar.President Yoon will arrive in Riyadh, the capital of Saudi Arabia, on Oct. 21 (loc
Hanwha Systems has obtained the rights to fully assemble radios of Collins Aerospace, a U.S. aerospace systems expert, in South Korea through a Complete Knock-Down (CKD) process. This marks the first time Collins Aerospace has permitted the setup of a CKD facility outside of the United States.On Oct
The Korean defense industry is accelerating its penetration of the global defense market with powerful weapon systems and differentiated technological competitiveness. For example, major Korean defense companies posted record exports of US$17.3 billion in 2022 and are on track to reach US$20 billion
Samsung Electronics, which had faced the threat of 400 billion won (US$295 million) in compensation due to a patent dispute with American semiconductor firm Netlist, can now breathe a sigh of relief.According to industry sources on Oct. 18, the U.S. Federal Ninth Circuit Court of Appeals recently re
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.Lonza presents disappointing earnings guidance at Capital Markets Day eventAt its Capital Markets Day event on Oct 17 (local time), Samsung Biologics’ peer Lonza presented its mid/long-term growth pr
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Wemade’s 3Q23 bottom line should show a turn to the black on a royalties contract for Mir 2 & 3 in China. We anticipate solid future OP, forseeing annual W100bn in additional royalty income over t
SK pharmteco will participate at the CPHI 2023 in Barcelona and prepare a dedicated booth at the event. As a multi-modality CDMO with expertise in small molecule active pharmaceutical ingredients (APIs) and biopharmaceuticals, SK pharmteco aims to present its business competitiveness and actively pu
South Korean defense industry firms have entered into a second-stage weapons export contract with Poland worth 30 trillion won (US$22.12 billion). This would elevate South Korea to the fourth-largest defense industry exporter worldwide in one go. However, the finalization of the contract, which was
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.Lotte Rental is seeking to strengthen the competitiveness of its car rental business by expanding its used car rental business and introducing membership services. The firm aims to take the lead in the
Fierce competition among major corporations is currently underway in the copper foil market dominated by SK Nexilis, a 100 percent subsidiary of SKC.SK Nexilis, an SK subsidiary specializing in the manufacture of copper foil for secondary batteries, and Lotte Chemical’s subsidiary Lotte Energy Mater
HiteJinro, a major player in the liquor sector in South Korea, is gearing up to establish its first overseas factory in Vietnam as it approaches its 100th anniversary next year. This move is a cornerstone of their strategy to globalize the soju business.HiteJinro announced on Oct. 16 that HiteJinro
Korea’s information and communications technology (ICT) exports fell 13.4 percent year on year in September. The decline rate hit the lowest of the year thanks to semiconductor exports, which posted this year’s best performance in September.According to September ICT import and export data from the
On Oct. 16, LS Cable & System revealed that it had won a contract for an ultra-high-voltage cable project valued at approximately 113 billion won from the Singapore Power Authority.LS Cable & System has secured a cumulative total of around 350 billion won in orders in Singapore this year, claiming t
The three major South Korean shipbuilders – HD Korea Shipbuilding & Offshore Engineering (KSOE), Hanwha Ocean, and Samsung Heavy Industries – are likely to simultaneously achieve a quarterly profit in the third quarter of this year, marking the first time in 11 years.According to the shipbuilding an
The Financial Supervisory Service (FSS) has uncovered common illegal short selling practices by a global investment bank (IB) for the first time.According to the announcement from the FSS on Oct. 15, a Hong Kong-based global IB, hereinafter referred to as Company A, submitted short selling orders wi