Following LG Energy Solution’s recent massive electric vehicle battery supply contract with Toyota, the world’s top-selling automaker, LG Chem has also sealed a deal with Toyota to supply cathode materials, an essential component for secondary batteries.On Oct. 6, LG Chem announced that it had enter
The Fair Trade Commission (FTC) has imposed a fine of 3 billion won (US$2.23 million) and issued a payment order against China State Construction Engineering Corporation Limited (CSCECL), a Chinese state-owned construction company, for its failure to provide written subcontract agreements and withho
The author is an analyst for NH Investment & Securities. She can be reached at yd.yoon@nhqv.com -- Ed.We draw attention to NHN KCP’s ongoing top-line growth in defiance of difficult conditions. Despite slow growth in online payment volume, the firm’s ability to secure merchants stands out. The final
Apple Pay, which made its entrance in South Korea in partnership with Hyundai Card, is set to face scrutiny at the National Audit. The National Assembly is expected to delve into issues such as the reportedly higher fees compared to Samsung Pay during this audit.According to financial sources on Oct
As the sole operator of nuclear power plants in the country, Korea Hydro & Nuclear Power (KHNP) has turned its attention towards revitalizing nuclear small and medium-sized enterprises which have been struggling with a shortage of projects. The initiative begins with the Shin Hanul Nuclear Power Pla
Samsung Electronics, which has begun substantial cutbacks in its NAND flash division in the latter half of this year, is reportedly planning a double-digit price increase as early as this month. All eyes are on how the pricing move by Samsung, a dominant player in the market, will affect other compe
The Ministry of Employment and Labor (MOEL) announced on Oct. 4 that “simultaneous supervision” will be implemented at all construction sites nationwide by Lotte Engineering & Construction.The implementation of this simultaneous supervision comes in response to a fatal accident that occurred at Lott
CJ Olive Young, which faces allegations of forcing suppliers into exclusive product deliveries by the Fair Trade Commission (FTC), may be subject to fines exceeding 500 billion won according to recent media reports.On Oct. 4, a domestic news outlet reported that the FTC, which has been investigating
Celltrion announced on Oct. 4 that it had obtained additional approval from the U.S. Food and Drug Administration (FDA) for 80mg/0.8mL and 20mg/0.2mL (hereinafter referred to as 80mg and 20mg) dosages of its Humira (active ingredient: adalimumab) biosimilar, Yuflyma (development code: CT-P17), on Se
As the global energy market is rapidly changing, South Korea, the world’s third-largest importer of liquefied natural gas (LNG) after Japan and China, is also closely monitoring the situation.According to the Korea Customs Service on Sept. 3, South Korea’s cumulative LNG import volume and import val
HD Hyundai Heavy Industries (HHI) is expected to be the first company to win a second batch of liquefied natural gas (LNG) carrier orders for its LNG project from Qatar Energy, the state-run energy company of Qatar, beating out Chinese shipbuilders. The contract alone is worth US$3.9 billion for 17
Korea Gas Corp. (KOGAS) lost nearly US$200 billion over four years due to defects in Korean-type tanks for liquefied natural gas (LNG) carriers it had developed with Korean shipbuilders. This is because Korean shipbuilders developed a tank for LNG carriers but a quality issue has prevented them from
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
As of the end of last year, South Korea’s household debt-to-GDP ratio reached 108.1 percent, making it the second-largest country in the world in terms of household debt relative to national economic size. It was ranked fourth globally in 2021, but it has climbed two more steps in just one year.Acco
We believe that Shinsegae International’s 3Q23 earnings will miss consensus, citing the combination of slowed consumption, liquidation of inefficient businesses, and withdrawal of a luxury brand (Celine). In 4Q23, the firm is expected to focus on improving its profit/loss picture by adding new brand
On Sept. 27, Samsung Engineering announced that it has received a notice of award (NoA) for a front end engineering design (FEED) project for a petrochemical plant from Alujain Corporation of Saudi Arabia. The order is worth about US$19.5 million or 26 billion won. The Korean contractor will complet
Speculation is mounting that Hyundai Motor may follow the footsteps of Nissan, Renault, and Mazda, which withdrew from Russia under a “1 euro sale contract” that included a repurchase condition (buyback clause). Following the end of the war in Ukraine, the Russian government has suggested a buyback
Domestic hedge fund and private equity firm Brain Asset Management has embarked on a US$500 million (675 billion won) pre-IPO investment in SK pharmteco, which involves investing in the company’s equity before it goes public. Following an initial investment of US$300 million (405 billion won), it ha
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
SK ecoplant, an environmental and energy firm, along with its subsidiary TES, will collaborate with Ascend Elements, an innovative U.S. waste battery recycling company, to establish a waste battery recycling joint venture (JV) in the U.S. and commence the construction of a pre-treatment facility.On