A bad feeling is growing among makers of electric vehicles that previously enjoyed rapid sales growth in the global automobile market. This is because their sales growth is staying on the skids year on year in major markets such as Korea, China, and the United States.According to the Korea Automobil
The domestic car market is rapidly reorienting around SUVs. For the first time, SUVs have surpassed 60% of the total new car market share this year.According to industry sources on Aug. 22, a total of 546,230 SUVs, including leisure vehicles (RVs), were sold domestically from January to July this ye
In the first half of this year South Korea’s steel imports showed an increase of over 10% compared to last year. This significant rise in imports is attributed to fluctuations in the exchange rates of major importing countries like China and Japan coupled with a domestic industrial boom leading to a
Domestic TV manufacturers such as Samsung Electronics and LG Electronics have been holding a dominant position in the global market but are now showing signs of unease. This is because Chinese companies like TCL and Hisense have been aggressively competing with lower-priced offerings, rapidly erodin
The overseas performances of major commercial banks have improved in the first half of this year. The improvement in performance in China and Southeast Asian subsidiaries has supported this trend.In the first half of this year, the four major commercial banks collectively recorded a net profit of 60
Samsung Electronics’ sales in China for the first half of this year have declined by more than 12 trillion won compared to the same period last year. There are visible signs of Samsung’s movement away from China, with both the number of their operational facilities and employees in the country on th
The author is an analyst for NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.LS Holdings’ earnings momentum is being ramped up by the consolidation of LS MnM. Portfolio enhancement is in progress via capacity expansion and stake increase in subsidiaries. Moreover, shareh
Korea’s trade balance in the information and communications technology (ICT) industry provisionally reached a surplus of US$3.19 billion in July after a slowdown in a drop in exports from April to June.The Ministry of Trade, Industry and Energy (MOTIE) said on Aug. 16 that ICT exports reached US$14.
Silicon, a material for anode materials, is emerging as a “game changer” that will significantly increase driving ranges on a single charge or shorten charging time.According to the secondary battery material industry on Aug. 16, leading Korean companies such as SK, LG, and POSCO have begun preempti
Despite a sharp decline in operating profits, the top 50 companies in the stock market (KOSPI) have increased their workforce by more than 13,000 employees.According to the semi-annual reports released on Aug. 16, the combined operating profit of the top 50 companies in the KOSPI index, excluding fi
With the rise in interest rates and an increase in the sales of high-priced vehicles, the import car industry is experiencing a significant boost in profits from automotive installment financing.According to industry sources on Aug. 16, Mercedes-Benz Financial Services Korea, an affiliate of domesti
Samsung Electronics has established a research and development (R&D) organization in Silicon Valley in the United States with the aim of enhancing its competitiveness in next-generation semiconductors. This decision is seen as a response to the growing uncertainties caused by economic downturns and
Global air freight rates have declined for the fourth consecutive month by over 40%. This is perceived as a setback for Korean Air, which requires new market entrants for its merger with Asiana Airlines.On Aug. 16, according to freight analysis firm Xeneta, the global average monthly spot air freigh
Despite Hyundai Motor’s global factory operation rate exceeding 100% during the first half of this year, a decrease was observed in some countries, including Vietnam, compared to the same period last year.According to Hyundai’s semi-annual report on Aug. 16, excluding the Chinese joint venture, the
Samsung Electronics has decided to sell a portion of its shares in the Dutch semiconductor equipment manufacturer Advanced Semiconductor Materials Lithography (ASML) after holding onto them for seven years. This move is interpreted as an effort to secure funds for investment, especially as the compa
After a decade-long downturn, HD Korea Shipbuilding & Offshore Engineering, Samsung Heavy Industries, and Hanwha Ocean are gaining momentum in realizing substantial profits. In July, domestic shipyards reclaimed the title of being the world’s top shipbuilding nation from China, a position they lost
Starting from the second quarter, major companies are showing a preference for bank loans as a means of fundraising over issuing corporate bonds. This trend is emerging as the interest rates for bank loans do not significantly differ from the interest rates for corporate bond issuance. With expectat
For two consecutive months Japan has surpassed China to rank second in South Korea’s trade deficit rankings, following a narrowing deficit with China.According to the “July 2023 Export and Import Trends” report released by the Ministry of Trade, Industry, and Energy on Aug. 13, the trade deficit wit
On Aug. 12 (local time), the Governor of the Central Bank of the Islamic Republic of Iran announced that nearly US$1 billion in value had been lose from the approximately US$7 billion of its funds that are frozen in South Korea, attributing the decrease to the depreciation of the won’s value against
Last year, three out of every ten LG Electronics employees in their 20s voluntarily resigned. As a result, there is an increase in new hires among those in their 20s.According to LG Electronics’ Sustainability Report on Aug. 13, the company had a total of 72,652 employees worldwide last year. The nu