The U.S. Department of Commerce has imposed countervailing duties on Hyundai Steel and Dongkuk Steel, alleging that Korea’s cheap electricity rates are effectively subsidizing the Korean steel industry. This is the first time the U.S. government has slapped tariffs due to cheap electric power in a f
AprilBio revealed on Oct. 5 that they have obtained a U.S. patent for their candidate drug for autoimmune disease treatment, known as “APB-A1” (development code name, partner company Lundbeck code name Lu-AG22515).In October 2021, APB-A1 was exported to Lundbeck, a multinational pharmaceutical compa
Korea’s industrial production, which had shrunken due to a slump in the semiconductor industry, made a comeback as semiconductor production rebounded.According to Statistics Korea on Oct. 4, the nation’s semiconductor production surged 13.4 percent month on month in August, the largest increase in f
Daewoong Pharmaceutical is rapidly securing its position in the market by consecutively acquiring patents related to the treatment of autoimmune diseases. The company announced on Oct. 4 that it has registered three patents related to autoimmune disease treatments over the past six months.To date, D
Last month, five domestic automakers sold 106,386 units in the domestic market, a 6.2% decrease compared to the same period last year. The dip in electric vehicle sales, combined with the lack of new model releases, resulted in decreased sales across Hyundai (excluding Kia), Korea GM, Renault Korea,
Tensions and conflicts are intensifying in the “semiconductor war” between the U.S. and China. As the first anniversary approaches of the U.S. government’s decision to restrict exports of semiconductor chips and equipment to China on Oct. 7 of last year, an update on policies regarding “Artificial I
In September, South Korea achieved its highest semiconductor exports in the past year, while exports to China also reached their peak for the year. Analysts suggest that semiconductor exports have gradually found their footing and are on an upward trajectory, and exports to China have entered a sign
The author is an analyst for NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.While China’s petrochemical demand set new records in Aug 2023, product spreads remained weak, owing to both strong oil prices and lofty supply. While capacity ramp-up should decrease in 2024, alread
The U.S. government is reportedly set to indefinitely halt restrictions on the export of U.S.-made semiconductor equipment to Samsung Electronics and SK hynix factories in China.The U.S. Commerce Department’s Bureau of Industry and Security (BIS) has been in talks with Samsung Electronics and SK hyn
On Sept. 25 (local time), Hana Financial Group announced that it has signed a memorandum of understanding (MOU) with the Saudi Export-Import Bank (Saudi EXIM) in Riyadh for the expansion of cooperative businesses within the Middle East.This marks the first business agreement between the Saudi EXIM B
POSCO International announced on Sept. 26 that it has signed a framework agreement on the establishment of a joint venture for the food investment business with Bartlett & Company, a leading local grain company, in Kansas City, the U.S., on Sept. 25.Bartlett is a food-specialized company with about
The Seoul branch of Iran’s Bank Mellat has initiated a lawsuit against Woori Bank, seeking the return and a 6 percent annual interest payment on 20.2 billion won (US$14.96 million) in funds frozen due to U.S. sanctions.According to financial industry sources on Sept. 26, Bank Mellat filed a deposit
Ford has decided to suspend the construction of an automotive battery plant in Michigan with Chinese battery maker CATL. Strong opposition from U.S. lawmakers to Chinese companies building battery production facilities in the United States to circumvent the U.S. Inflation Reduction Act (IRA) is the
The battery materials industry is facing a challenging period as the export prices of cathode materials, a critical component in secondary batteries, have dropped by more than 15 percent for the third quarter of this year compared to the previous quarter. This situation is exacerbated by the reducti
On Sept. 25, Daewon Pharmaceutical announced that its 12th domestic new drug, a non-steroidal anti-inflammatory drug (NSAID) named Pelubi CR Tablet, will enter the Indonesian market.Daewon Pharmaceutical has signed an exclusive export supply contract for the finished product of Pelubi CR Tablet with
The newly released Huawei Mate 60 Pro is equipped with the self-developed 5G 7 nm Kirin 9000S chip.Despite facing significant sanctions from the U.S. government since 2020, China’s Huawei is alleged to have used semiconductor chips produced by Samsung Electronics, U.S.-based Micron, and Japan-based
The author is an analyst for NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.We view the tight supply situation in the refining industry as being structural. Although refining margins should stabilize after peaking out in 2Q23, they are exceeding historical averages, suggesti
Thanks to the success of K-pop artists like BTS and Blackpink, as well as the booming export of K-dramas and other Korean content, the first half of this year witnessed a record-breaking trade surplus in copyright exports, marking an all-time high.According to the “2023 First-Half Intellectual Prope
On Sept. 20, President Yoon Suk-yeol proposed the formation of a “Carbon Free Alliance” to the international community during the United Nations General Assembly held in New York. This proposal includes bringing forward Carbon-Free Energy (CFE), which encompasses nuclear power and hydrogen energy, a
Concerns are being raised that the structure of South Korea’s economy is evolving into the “New Normal” characterized by low growth. This is due to the fact that our economy, heavily reliant on exports, is not recovering, primarily as a result of the sluggish Chinese economy. Furthermore, external c