Samsung Electronics’ Q1 operating profit is estimated to be 1.4138 trillion won (US$1.0894 billion), down 67 percent from the previous quarter and down 89 percent from a year earlier.A seriously negative earnings surprise is likely with its semiconductor products in stock exceeding 29 trillion won (
LG U+ announced on March 14 that it will provide foreign language chatting services for foreign customers.The foreign language chatting customers service offers four languages -- English, Russian, Chinese, and Vietnamese. It also utilizes Google Assistant-based automatic translation for other langua
Daewoong Pharmaceutical announced on March 14 that its product Fexuclue (ingredient name: fexuprazan HCl), a treatment for gastroesophageal reflux disease, obtained a drug license from the Agencia Nacional de Medicamentos, or ANAMED, under the Chilean Public Health Institute on Feb. 20.This marked t
Korea National Railway announced that its Chairman Kim Han-young attended the 11th UIC High-Speed Congress held in Morocco from July 7 to 10. UIC stands for Union Internationale des Chemins de fer in French and the International Union of Railways in English.At the opening event on March 7, Kim gave
Samsung C&T is successfully implementing the Thi Vai Project, Vietnam’s first LNG terminal, on March 14 according to industry sources. The project broke ground in June 2019. The terminal is scheduled for completion in the second half of this year.Following this, Samsung C&T preempted the Vietnamese
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed.In the early hours of Mar 13, a fire at Hankook T&T’s Daejeon plant shut down production lines. For the time being, the company can sustain shipments by tapping into inventory. The impact of the fire will d
As competition for global battery supremacy intensifies, all-solid-state batteries, called “dream batteries,” are attracting more attention from those in the world battery industry. This is because if this battery technology, which can boost batteries’ safety and mileage a great deal, is commerciali
Hanwha Systems succeeded in demonstrating an anti-drone system that detects, tracks, and captures illegal drones such as those from North Korea.On March 13, Hanwha Systems announced that it succeeded in testing an anti-drone system that catches and neutralizes small drones at a drone flight test sit
Kumho Tire announced on March 10 that the governor of the state of Louisiana in the United States visited its headquarters.An Asian trade delegation led by Governor John Bel Edwards visited Kumho Tire’s headquarters in Seoul and met with Kumho Tire’s management. Kumho Tire CEO Jeong Il-taek, Vice Pr
Tium Bio announced on March 13 that it will attend 2023 Bio Europe.2023 Bio Europe Spring is the largest pharmaceutical and bio industry partnering event in Europe. It will be held offline in Basel, Switzerland from March 20 to 22 and an online meeting is scheduled from March 28 to 30 after the offl
Ssangyong E&C has won a 200 billion won (US$153 million) order to build a new campus in Korea for ASML, a world-class semiconductor equipment company. The two companies announced on March 3 that they signed a contract for the construction of the ASML campus in Hwaseong, Gyeonggi Province, in South K
The gap between Korea’s Samsung Electronics and Taiwan’s TSMC in the global foundry market further widened in the fourth quarter of last year. With the foundry market declining by 4.7 percent from the previous quarter, both companies experienced a drop in sales, but TSMC was less affected than Samsu
Samsung Electronics has reportedly offered a one percent basic salary raise to its labor union this year. Due to an economic downturn, Samsung Electronics is also tightening its belt by minimizing wage increases.According to industry sources on March 13, the management of Samsung Electronics present
Hyundai Motor Company will acquire a foreign carmaker’s plant in India for the first time since entering the Indian market in 1996. It is a measure to increase its responsiveness to the rapidly growing Indian market, analysts say.Hyundai Motor India signed a legally binding term sheet to acquire Gen
Saudi Arabia’s Ministry of Investment held an MOU signing ceremony for a strawberry smart farm project between a consortium consisting of four Korean companies, including Nongshim, and a local Saudi Arabian company on March 12 (local time).Nongshim will export smart farms to Saudi Arabia after the U
At Mobile World Congress (MWC) Barcelona 2023, Huawei took home multiple GTI Awards.Huawei's Green Target Network program scooped the GTI Innovative Breakthrough in Mobile Technology Award and Outstanding Award, while its 5G Smart Ocean project won the GTI Market Development Award for its outsta
U.S. Senator Marco Rubio tabled a bill on March 9 so that subsidies based on the U.S. Inflation Reduction Act cannot be provided in the case of technology introduction based on a license contract with a certain country.The bill targets CATL, which is planning to build a plant in the United States to
The Chinese government announced that it would permit group travel to 40 countries on March 15. The 40 includes Nepal, Vietnam, France, Greece, Spain, Chile, and Uruguay, and does not include South Korea. The Chinese government previously permitted group travel to a selection of 20 countries, includ
A total of 19 insurance companies, more than one-third of the total, asked the Financial Supervisory Service to postpone the implementation of the Korea Insurance Capital Standard (K-ICS). The ratio is over 50 percent when it comes to life insurance companies. The standard is for soundness assessmen
The prices of nickel and lithium are on the decline. Those are main components of EV battery cathode materials, which account for 40 percent of EV battery prices.According to the Korea Mineral Resource Information Service, the lithium carbonate price was 285.5 yuan (US$41.71) per kilogram on March 1