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
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 legal team at Hanmi Pharmaceuticals, responsible for legal responses and consultations, has been selected among the Top 15 Best In-House Legal Teams in Asia.The global legal media outlet Asian Legal Business (ALB) annually evaluates legal organizations of companies headquartered in the Asia-Paci
U.S. semiconductor company Broadcom said on Sept. 25 that it plans to file an administrative lawsuit against the Korea Fair Trade Commission (KFTC)’s decision to impose a fine on Broadcom.“We regret the decision by the KFTC,” Broadcom said in a statement, adding that it plans to appeal to the Seoul
Last month, resident deposits fell below US$100 billion (133.65 trillion won), marking a decline for the first time in four months. This decline is attributed to the strong dollar phenomenon, which has led to a reduction in the conversion value of deposits denominated in euros and yen.According to t
Hyundai Securities said in a company analysis report on Samsung Life Insurance on Sept. 22 that Korea’s biggest life insurer is expected to continue to increase its dividends in the mid to long term as it needs to serve as a major source of funds for deferred payment of the large inheritance tax by
Hyundai Engineering announced on Sept. 21 that it had secured a contract on Sept. 20 for the basic Front End Engineering Design (FEED) services of the Pine Bluff GTL Americas project ordered by GTL Americas.This project entails constructing a facility in Jefferson County, Arkansas, the U.S. that con
The Korea Fair Trade Commission (KFTC) has punished U.S. semiconductor company Broadcom for allegedly forcing Samsung Electronics to sign a long-term contract to purchase parts for smartphones.The Korean market watchdog announced on Sept. 21 that it has decided to slap a fine of 19.1 billion won (US
Westinghouse clarified its position on Sept. 19 (local time) that it will appeal to the U.S. District Court in Washington, D.C. with regard to the court’s ruling to dismiss a lawsuit filed by Westinghouse to block Korea Hydro & Nuclear Power (KHNP)’s export of nuclear reactors via a statement from D
Intel, which has declared its ambition to surpass Samsung Electronics and claim the second spot in the foundry, or semiconductor contract manufacturing, industry next year, showcased its technological prowess by unveiling its first-ever 18A wafer prototype in the 1.8-nanometer (nm) range, demonstrat
SK pharmteco, the Contract Development and Manufacturing Organization (CDMO) subsidiary of SK, announced on Sept. 20 that it has acquired The Center for Breakthrough Medicines (CBM), a U.S.-based Cellular and Gene Therapy (CGT) CDMO.Last January, SK pharmteco invested US$350 million in CBM to streng
A nighttime view of the Wolseong Nuclear Power Plant Shin-Wolseong Units 1 and 2Despite a lawsuit filed by U.S. nuclear company Westinghouse against Korea Hydro & Nuclear Power (KHNP) to hinder its standalone nuclear power exports being dismissed by a U.S. court, Westinghouse has indicated its inten
HJWave, a specialized RF company in the field of millimeter-wave autonomous driving (mmWave, 30-300GHz), announced on Sept. 1 that they have launched the DWnT radar antenna solution applicable to the RF MMIC DF (Direct Feeding) coupling method that supports autonomous driving.The DWnT (Double Wide a