The Korea Customs Service announced on March 30 that exports of instant noodles hit an all-time high of US$862 million last year, up 12 percent from a year earlier.The exports have broken the previous record every year since 2014. The exports were US$147 million in January and February this year, up
The semiconductor industry and business community welcome the so-called K-Chips Act, which was passed by the National Assembly plenary session on March 30.According to the amendment to the Act on Restriction of Special Taxation, the tax deduction rate for capital investment in national strategic ind
SK On, a battery arm of the SK Group, will go ahead with having an IPO in 2025 at the earliest. In order to protect the shareholder value of SK Innovation, its parent company, SK On, has also come up with a plan to minimize opposition from existing shareholders by studying the possibility of an exch
Naver announced that it has signed MOUs with Saudi Arabia's Ministry of Municipal and Affairs and Housing (MOMRAH) and Ministry of Investment Saudi Arabia (MISA).On March 30 (local time), Naver, Naver Labs, Naver Cloud, and the MOMRAH and the MISA held a ceremony in honor of signing the MOUs at
Leading global tiremaker Hankook Tire will enter the 2023 Major League Baseball (MLB) season as the league’s Official Tire in the U.S. and South Korea.An official partner of MLB since 2018, this year, the Hankook logo will be featured in signage behind home plate in select games, along with other ma
Doosan Mobility Innovation (DMI) announced on March 30 that it has signed a partnership with the Massachusetts Institute of Technology's Electric Vehicle Team (MIT EVT) to jointly develop motorcycles powered by hydrogen fuel cells.The hydrogen motorcycle to be developed by the two sides this tim
Hanwha Life Insurance Indonesia announced on March 29 that it completed the acquisition of a 62.6 percent stake in Lippo General Insurance, a financial subsidiary of Lippo Group, the 6th largest in the Indonesian business world along with Hanwha General Insurance. Hanwha Life Insurance Indonesia acq
Civic groups in Korea held a press conference condemning Samsung Electronics and urged a complete ban on methanol use following a fatal accident from methanol poisoning at a second-tier partner of Samsung Electronics in Vietnam.On March 29, 16 civic groups, including Banolim which protects the healt
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Despite a decrease in natural gas prices, LNG development continues to accelerate. FLNG market growth is set to continue on the back of new usage trends. Helped by increased shipbuilding volume, SHI s
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.Retail/Fashion industry growth is currently being led by offline businesses, conditioned by both the fact that the Lunar New Year’s holidays fell in January this year and by an increase in external acti
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com -- Ed.Samsung SDI is anticipated to diversify its customer portfolio, which is currently centered on European automakers, through the securing of new US partners this year. AMPC benefits are expected from
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com -- Ed.Having secured a number of new contracts, EcoPro BM is on track to reach its 2027 cathode material capacity target of 710,000 tons ahead of schedule.2027 capacity target to be achieved earlyAdhering
Zuellig Pharma today announced plans to open an additional warehouse and relocate existing operations at the Hwasung 2 distribution center as part of efforts to innovate its distribution operations and capitalize on strong demand for its solutions in Korea. In line with this, the company will lease
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com -- Ed.We expect SEC’s earnings to remain sluggish through 2Q23, amid slowing memory market conditions. Industry conditions should improve from 3Q23, however, led by supply reductions and increased demand for
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.Following the merger with POSCO Energy, synergies are expected at POSCO International on the full-fledged start of investments in its energy business. On the non-energy side, growth potential is
SK On is predicted to turn back to the black in 2023 by raising factory yields pointed out as the cause of the company’s sluggish performance.SK On has recently secured a yield of 80 percent at its plants either in the state of Georgia in the United States, and in Hungary. The two plants started ope
In February, thanks to the effects of the newly released Galaxy s23 smartphone, Samsung Electronics dethroned Apple, rising to first place in the global smartphone sales standings.According to sources in the financial investment industry and global market research firm Counterpoint Research on March
LG Energy Solution is considering receiving subsidies set by the U.S. Inflation Reduction Act (IRA) in cash. This is because if the subsidies are received in cash rather than tax credits, they will be included in operating profit, resulting in a significant performance improvement in the future.Acco
The first large-scale supply contract for nuclear power generation in Korea in about 10 years has injected strong new vitality into Korea’s nuclear power plant ecosystem. Doosan Enerbility announced on March 29 that it has signed a contract to supply the main equipment needed for Shin Hanul Units 3
HL Mando, a company specializing in EV and autonomous driving solutions of the HL Group, was selected as the best partner of 2022 by General Motors (GM). This is the third year in a row since HL Mando won the 2020 Launch Excellence Award.On March 23 (local time), 107 suppliers from 10 countries, inc