The Bank of Korea announced on Oct. 20 that residents’ foreign currency deposits increased by US$1.23 billion to US$89.5 billion last month. The deposits consist of those owned by local individuals and companies, foreigners staying for at least six months in South Korea, and foreign companies doing
While Samsung Electronics and TSMC are intensifying their competition in the 3-nm chip market, low-end semiconductors produced using a 28-nm or lower process may cause a bottleneck in the semiconductor supply chain. Some experts argue that China can increase its influence in such a situation.TSMC CE
KEPCO has been selected as the preferred bidder for the Jafurah cogeneration independent steam and power plant (ISPP) project promoted by Aramco of Saudi Arabia.The project aims to build an ISPP with an electric power generation capacity of 320 MW and a steam generation capacity of 315 tons/hr by 20
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com. -- Ed. Reflecting both a strong performance at its hotel business and one-off gains, Hotel Shilla’s 2Q22 OP exceeded consensus. Moving ahead, favorable share price movements are anticipated thanks to the hig
Korea Aerospace Industries (KAI) and the Korea Advanced Institute of Science and Technology (KAIST) have joined hands to explore the space technology market using artificial intelligence (AI).KAI announced on July 25 that it has recently signed a business agreement with KAIST to jointly research and
LG Energy Solution, SK On, and Samsung SDI will receive at least 2.1 trillion won in incentives, including tax benefits, for investing a total of about 21 trillion won to build battery plants in North America.By company, LG Energy Solution is to receive over 1 trillion won in incentives for its inve
Deputy Prime Minister Choo Kyung-ho remarked on July 16 that the duty-free ceiling applied to traveler belongings might be raised to US$800 so that the tourism industry can better deal with COVID-19. The current ceiling is US$600, which has been applied since September 2014.He also said that the gov
The values of the currencies of emerging Asian countries showed the steepest decline since 1997 in the second quarter, amid a rapid rise in U.S. interest rates.According to Bloomberg, the Bloomberg JP Morgan Asia Dollar Index fell 4.5 percent to 102.53 in the second quarter of this year. The index s
The Embassy of the United Arab Emirates (UAE) has set out to actively encourage Korean SMEs, non-profit organizations and high schools to apply for the Zayed Sustainability Prize.The Zayed Sustainability Award, launched in 2008, was inspired by the sustainability and humanitarian legacy of the late
Korea’s automobile exports amounted to US$4.4 billion in April, up 6.1 percent from the same period of 2021. Export growth was led by eco-friendly vehicles amid a global push for carbon neutrality. However, production decreased due to a shortage of semiconductors and disruptions in parts supply trig
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com. -- Ed. Even considering macro uncertainties, sales/performance momentum should increase on the back of stabilizing production in 2H22 and the full-fledged global launch of flagship models (Sportage, EV
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. High growth forecasts are in place for the laser annealing, AP lithography, EUV mask blank, and MOCVD equipment markets for 2022.Laser annealing and MOCVD equipment markets boast strong growth potenti
South Korea’s annual exports hit an all-time high of US$644.54 billion last year, with a year-on-year growth of 25.8 percent. In 2021, its annual imports exceeded US$600 billion for the first time in history and its annual trade value hit an all-time high of US$1.2596 trillion.The Ministry of Trade,
The Ministry of Land, Infrastructure and Transport and the International Contractors Association of Korea announced on Dec. 30 that South Korean construction companies recorded an overseas order intake of US$30.6 billion this year, down 13 percent from a year ago.“They exceeded their goal by US$600
SK Group has decided to invest more than US$600 million to build wafer production facilities in the United States. It is the first detailed plan after SK Group chairman Chey Tae-won announced a 60 trillion won investment plan during his recent visit to the U.S.The U.S. Department of Commerce disclos
South Korea's monthly exports increased year on year for 12 months in a row last month. Exports reached the second-highest level in history, and yet its trade surplus dropped 60 percent from the previous month, due to rapidly rising raw material prices, in October this year.The Ministry of Trade
Nvidia has become the largest semiconductor company in the world by beating TSMC. These days, the company is expanding its business to cover artificial intelligence chips and so on. Meanwhile, TSMC is in the middle of intense competition in the global foundry market and smartphone manufacturers’ ord
South Korea’s total trade volume is expected to exceed US$1 trillion on Oct. 26 this year. Then, the volume will reach the level in the shortest period since records began in 1956. The current record is in 2018, when US$1 trillion was reached on Nov. 16.The volume totaled US$980.8 billion from Jan.
Samsung Electronics has slipped one notch to third place in a ranking of global semiconductor companies in terms of market capitalization.Taiwan's TSMC, which once competed with Samsung Electronics for the top spot, surpassed US$600 billion in market capitalization to become the largest chipmake
The Ministry of Trade, Industry and Energy announced on Aug. 1 that South Korea’s exports totaled US$55.44 billion last month, up 29.6 percent from a year ago. It is an all-time high since records began in 1956 and the previous high is US$55.12 billion, which was recorded in September 2017. Last mon