Samsung Electronics and SK hynix did not pay corporate taxes last year as they both recorded operating losses due to the downturn in the semiconductor industry.According to Samsung Electronics’ business report released on April 23, the company recorded an operating loss of 11.52 trillion won (US$8.3
BMW Group Korea will now carry out all electric vehicle and software development, as well as certifications in Korea.“Korea is BMW’s fifth-largest market globally, and this year we became the No. 1 brand in premium cars, including electric vehicles,” said Jochen Goller, a member of the Board of Mana
Round eight of this season’s ABB FIA Formula E World Championship in the principality of Monaco is the next highlight for the Hankook iON Race. On the 27th of April, the spotlight in the second-smallest country in the world will be on the fully electric racing series. The 3.337-kilometer circuit, wh
The author is an analyst for NH Investment & Securities. He can be reached at youngryu@nhqv.com. -- Ed.Noise appearing here and there; market expectations being adjustedAfter ASML and TSMC announced weaker-than-expected 1Q24 results and negative market outlooks, tech firms have experienced overall s
Both Samsung Electronics and SK hynix, the two leading semiconductor giants in South Korea, closed lower. The decline was influenced by a simultaneous sharp drop in semiconductor stock prices, with Nvidia falling by 10 percent in the U.S. market.In the KOSPI market on April 22, Samsung Electronics c
As Samsung Electronics launches its new all-in-one personal computer (PC), Intel, the provider of the central processing unit (CPU), has announced its intention to work with Samsung Electronics to develop the AI PC market together.Bae Tae-won, vice president of the Intel Korea Samsung Business Divis
With the ongoing competition in the AI semiconductor sector, the foundry (contract chip manufacturing) industry is facing a new challenge due to stagnant demand and overcapacity. Concurrently, the rivalry for dominance in the high-bandwidth memory (HBM) segment, a crucial component in AI, is intensi
The author is an analyst for Shinhan Securities. He can be reached at ldh@sinhan.com -- Ed.1Q24 review: OP of engines surpasses construction equipmentHD Hyundai Infracore posted sales of KRW1.16tr (-10% YoY), operating profit of KRW92.8bn (-39% YoY), and operating margin of 8% (-3.8%p YoY) for 1Q24.
Netflix Services Korea has begun an administrative lawsuit against Korea’s tax authorities over 78 billion won (US$57 million) in tax imposed on the OTT giant. Much attention is being paid to see how the Korean court will rule on the unfair practice of global platform companies such as Netflix not p
The New Zealand Wine Festivals, which promise an unforgettable experience of New Zealand culture and remarkable wines, are returning this year by popular demand. The events in Seoul and Busan will leverage the growth and recognition of an array of New Zealand’s premium wines.“New Zealand wine is a f
lecom. The goal is to boost AI service competitiveness by leveraging Korea’s world-leading semiconductor and communication technologies. As Microsoft and the Tech Big 4 have much to offer each other in business structures, this AI collaboration is expected to be a win-win for both parties.On April 2
Korean appliances are making strides in Europe, one of the world’s most conservative markets. Although the European market is known for its traditional preferences, Korean companies have carved out a strong presence by adopting tailored strategies that cater to local tastes.Last year, LG Electronics
It has been revealed that the four American “big tech” companies -- Apple, Microsoft, Google, and Meta -- collectively garnered around 9 trillion won in sales and about 600 billion won in operating profit in South Korea over the past year.According to the audit reports disclosed in the Financial Sup
It has been revealed that both individual investors and institutional investors in South Korea earned over 100 trillion won through overseas stock and fund investments last year.According to the international investment position report from the Bank of Korea on April 21, the balance of equity securi
SK On, the battery business subsidiary of SK Innovation, announced today its Cobalt-free battery has won a Bronze award in the Smart Transportation category at the prestigious 2024 Edison Awards on April 18.The latest honor not only shows SK On's technological prowess but also underscores the compan
In the first quarter of this year, Korea’s exports to the United States surpassed those to China for the first time since the second quarter of 2003.Exports to the U.S. are expected to remain strong for the foreseeable future, driven by foreign direct investment (FDI) in the manufacturing industries
Seoul is considering establishing an international school in the international financial center of Yeouido in Seoul. The idea is to create a comfortable environment for foreigners to live in Seoul in order to attract more overseas investment.The Seoul Metropolitan Government will launch a service to
HLB has opened an office in the Cambridge Innovation Center (CIC) in Boston, Massachusetts, in the United States, to strengthen its collaboration with global pharmaceutical giants and to support its subsidiaries’ expansion into overseas markets.Through the Boston office, HLB plans to strengthen comm
Among the member countries of the Organization for Economic Cooperation and Development (OECD), the South Korean won was revealed to be the fifth most undervalued, while among the Group of Twenty (G20) nations, it ranked as the fourth most undervalued.According to the Bank for International Settleme
Osstem Implant, the world’s leading dental implant company in sales, faced measures including the recommendation for dismissal of its CEO following embezzlement amounting to around 220 billion won. The Securities and Futures Commission (SFC) under the Financial Services Commission resolved on such m