South Korea should increase its semiconductor exports to China regardless of its relations with the United States in order to develop its semiconductor industry, a Chinese media outlet asserted.“Given that South Korea’s economy is heavily dependent on the semiconductor industry, it is understandable
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Delivered strong 4Q23 results on early start to peak season and rising demand for Southeast Asian routesWe maintain a Buy rating and TP of W17,000 on Jin Air. Korea’s leading LCC posted 4Q23 sales of
Hana Bank announced on Jan. 17 (local time) that it has been honored with the “Best Trade Finance Provider in Korea 2024,” an award presented by the global financial and economic publication Global Finance.With the latest award, Hana Bank has achieved a remarkable feat by winning the “Best Trade Fin
South Korean battery companies are reportedly exploring the possibility of establishing a lithium processing plant in Chile, the world’s largest holder of lithium reserves. According to Bloomberg on Jan. 19 (local time), Invest Chile, the foreign investment promotion agency of the South American nat
Cho Hyun-sang, vice chairman of Hyosung Group, attended the World Economic Forum (WEF, also known as the Davos Forum) to communicate with global leaders and explore new business opportunities for Hyosung Group, a global company in the materials sector.This year marks the 54th World Economic Forum, h
Hyundai Motor and Kia Corp. sold more than 1.1 million vehicles in Europe in 2023, setting a new record for annual sales.Hyundai and Kia sold 1,106,467 units in Europe in 2023, up 4.3 percent year on year according to the European Automobile Manufacturers’ Association (ACEA) on Jan. 18. This surpass
Hwang Joo-ho, the CEO of Korea Hydro & Nuclear Power (KHNP), has been engaging in activities to secure the Dukovany new nuclear power plant project in the Czech Republic for two days from Jan. 16.On Jan. 17, CEO Hwang visited the Czech Power Company (CEZ) and the Czech Ministry of Industry and Trade
POSCO International announced on Jan. 18 that it has secured an order for 1.03 million units of drive motor cores. These cores will be utilized in electric vehicles of the Seltos class, which Hyundai Motor and Kia Motors plan to produce locally in Europe from 2025 to 2034. The drive motor cores will
A forecast has emerged predicting substantial growth in South Korea’s exports this year. On Jan. 18, the Bank of Korea (BOK) published an issue note titled “Assessment and Insights on Global Growth and Trade Post-Pandemic – BOK Issue Note.”The BOK foresees an expansion in South Korea’s export growth
SK telecom announced on Jan. 17 that it has signed a memorandum of understanding (MOU) with Vetology Innovations of the United States, targeting the U.S. market with its product, named X Caliber, during the world’s largest veterinary event, VMX2024, currently underway in the U.S.X Caliber is a diagn
It has been revealed that South Korea completed defense exports to Poland last year surpassing 1.5 trillion won, including FA-50 light combat aircraft and K9 self-propelled howitzers.With the addition of such large-scale defense exports, Poland has swiftly emerged as South Korea’s fifth-largest trad
South Korean ramen exports nearly reached US$1 billion last year. According to the Ministry of Agriculture, Food and Rural Affairs on Jan. 17, ramen exports stood at US$952.4 million last year and marked a whopping increase of 24.4 percent compared to the previous year. Ramen exports have been consi
KT&G announced on Jan. 17 that it has been diligently cooperating with the U.S. government’s investigation into allegations of tobacco-related regulatory violations since 2021.KT&G issued a statement on the day, stating, “The company has submitted a comprehensive document and materials regarding the
SK on, a leading global electric vehicle battery manufacturer, will strengthen its partnership with Solid Power, a U.S.-based leading developer of solid-state battery technology, to accelerate the development of all-solid-state batteries (ASSBs).SK on announced today it signed a research and develop
Iljin Electric disclosed on Jan. 16 that it secured a contract with Malaysia’s state-owned electricity utility, Tenaga Nasional Berhad (TNB), on Jan. 9. The US$36 million contract involves the supply of materials and connection construction for a 52.4 km, 275 kV high-voltage underground cable projec
Hyundai Motor Group has sold its Chongqing plant in China for about 300 billion won. This has reduced the number of production bases in China from five to three since Hyundai entered the country in 2002. The decision was made to reorganize the structure of its Chinese business, thereby boosting its
Korea’s automobile exports hit a record high of USUS$70.9 billion in 2023.Korea’s automobile exports increased 31.1 percent year on year to US$70.9 billion last year, according to 2023 annual automotive industry data released by the Ministry of Trade, Industry and Energy (MOTIE) on Jan. 16. This sur
Hyosung TNS showcased its latest unmanned payment solution, JetCheck, at the NRF 2024 retail trade show held in New York from Jan. 14 to 16.JetCheck is an unmanned checkout counter that provides a seamless payment experience and assists in store operations. This unmanned payment solution includes bo
A well-known Chinese automotive manufacturer is currently under investigation by South Korean law enforcement agencies for allegedly establishing a subsidiary in South Korea and illicitly acquiring domestic battery technologies from Samsung SDI and SK on, formerly SK innovation.According to industry
Samsung Electronics and SK hynix will build the world’s largest and best semiconductor mega cluster in the southern part of Gyeonggi Province with a total investment of 622 trillion won. The Korean government will support this project by creating infrastructure and an investment environment, strengt