Automakers are making changes in their strategies as they grapple with the increasingly complex rules of the Inflation Reduction Act (IRA), which subsidizes electric vehicles built in North America while excluding Chinese supply chains. Some automakers are looking to keep Chinese companies as partne
LOTTE Fine Chemical recently contracted for 5,000 tons of Vietnamese urea, signaling a shift towards alternatives to Chinese imports amid growing concerns over shortages in supply of diesel exhaust fluid (DEF), essential for diesel vehicles, due to disruptions in Chinese urea imports.On Dec. 6, the
Samsung Electronics and TSMC are building semiconductor ecosystems around their foundry plants in the United States, engaging in a fierce battle to secure customer orders.According to industry sources on Dec. 5, Amkor, the world’s second-largest packaging company, announced on April 30 an investment
In the third quarter, as the global NAND flash market saw a slight increase in sales, major companies also reported growth in revenue. Samsung Electronics maintained its lead with the number one market share, while SK hynix climbed from third to second place.Market research firm TrendForce reported
Due to a slump in the global economy, auto demand is expected to decline in Korea and Korea’s car exports are expected to increase slightly as Korean car makers still have waiting orders. Therefore, Korea’s car production is expected to remain flat next year.The Korea Automobile and Mobility Associa
Hyundai Mobis (KRX 012330) announced on 5th that Hyundai Mobis has established the 'Electrification Research Center' within the Hyundai Motor Group's Uiwang R&D Center in Uiwang, Gyeonggi Province and held an inauguration ceremony. At the ceremony, the newly appointed President of Hyundai Mobis, Lee
The Organic Light-Emitting Diode (OLED) emissive material market is projected to exceed US$2.4 billion by 2028, with China expected to account for a significant 44% of this growth.According to market research firm UBi Research on Dec. 4, the market for emissive materials used in OLEDs is anticipated
Hanwha Aerospace has secured a second phase contract for exporting 152 K9 self-propelled howitzers, worth approximately 3.4 trillion won, following their initial deal in August last year to export 212 units worth around 3.2 trillion won.On Dec. 4, Hanwha Aerospace announced the signing of this secon
Concerns are growing that the implementation of investment subsidies promised by the U.S. government to domestic semiconductor companies like Samsung Electronics may be delayed or reduced.According to the business community and semiconductor industry sources on Dec. 4, Samsung Electronics’ U.S. bran
Hanwha Systems has announced the successful launch of its self-developed “Small SAR Satellite” from the seas south of Jeju Island at exactly 2:00 p.m. on Dec. 4. This launch marks a significant milestone as it represents the first domestic development of such a satellite in South Korea. The launch v
Samsung Electronics has reportedly incurred costs amounting to about 9 trillion won for chip purchases from global application processor (AP) manufacturers, including Qualcomm and MediaTek. The analysis suggests that the exclusion of Samsung’s in-house AP, Exynos, from key products due to performanc
The U.S. government has clarified a regulation denying subsidies for electric vehicles with parts made by Chinese state-affiliated companies by stating that it includes joint ventures with foreign entities outside of China if the ownership stake of the Chinese company in the venture exceeds 25%. It
Kumho Tire announced on Nov. 30 that it signed a memorandum of understanding (MOU) with European petrochemical group Synthos for the joint development of sustainable tire raw materials. Both companies plan to collaborate on a project for the research and development of NdBR using Bio-Butadiene (Bio-
According to the semiconductor industry on Dec. 2, Samsung Electronics has made significant progress with its extreme ultraviolet (EUV) lithography technology. At the recent KISM2023 academic conference in Busan, Samsung Electronics DS Division’s Fellow, Kang Young-seok, detailed the current state a
General Motors (GM) has asked LG Energy Solution to give the U.S. automaker up to 85 percent of the advanced manufacturing production credits (AMPCs) which the Korean automaker will receive through their U.S. battery joint venture, according to industry sources on Nov. 30. This is much more than GM’
It has been revealed that HD Korea Shipbuilding & Offshore Engineering is poised for a large-scale order at the end of the year. Depending on the production of eco-friendly vessels, the potential order size is expected to exceed 1 trillion won.According to the shipbuilding industry on Nov. 30, it ha
Samsung SDI, which has been restructuring its battery materials business and strengthening its capabilities in battery cell manufacturing, is now actively investing in cathode materials. The company’s shift in focus has drawn significant attention as it departs from its previous strategy of streamli
As Nvidia, a leading company in artificial intelligence (AI) chips, is to shorten its new product release cycle to one year, SK hynix is expected to continue its dominance in the High Bandwidth Memory (HBM) market. SK hynix has made strides in the HBM market and it is likely to surpass 10 trillion w
The U.S. Department of the Treasury is set to announce detailed regulations on “Foreign Entities of Concern” (FEOC), which excludes some companies from electric vehicle tax incentives under the Inflation Reduction Act (IRA), on Dec. 1 (local time). The South Korean battery industry is closely monito
STX announced on Nov. 30 that the drilling exploration results for prioritizing production areas in the Sulawesi nickel mine, where it secured a 20% stake last August, revealed a saprolite layer with a nickel content of 1.6%.Nickel ore with a pure nickel content of over 1.6% after impurity removal i