Mercedes-Benz overtook BMW in March, reclaiming the top spot in the Korean import car market.The number of newly registered imported cars reached 23,840 in Korea in March. This represented a decrease of 4.3 percent compared to the same period of 2022, according to the Korea Automobile Importers & Di
HD Hyundai Construction Equipment is drawing much attention as it starts solar power generation in India and China. In order to attain RE100, its overseas plants are procuring electricity on their own through solar power generation. RE100 is a global corporate renewable energy initiative bringing to
Samsung Electronics’ Foundry Business Division has started volume production of next-generation artificial intelligence (AI) chips in earnest, starting with foundry orders from Korean fables companies. Thanks to the growing AI chatbot craze fueled by the popularity of ChatGPT, the AI semiconductor m
As a world-leading consumer electronics company, LG not only innovates to make life better for all, but also to invent completely new lifestyles. But for the company to accomplish its ambitious goals, it requires its partners from around the world to help in its pursuit of superior technologies and
China is predicted to clamp down on the export of rare-earth element (REE) magnet manufacturing technologies and techniques. Experts point out that supply from alternative sources needs to be increased without delay with such magnets in wide use in various industries, ranging from smartphones and ai
It has been found that the U.S. government put the brakes on Korea Hydro & Nuclear Power’s plan to build a nuclear power plant in the Czech Republic.According to industry sources, KHNP reported information to the U.S. Department of Energy on Dec. 23 last year in order to get a permit to bid. The dep
The Korean shipbuilding industry is moving closer to achieving this year’s order-taking target based on stable orders. Korean shipbuilders are concentrating on boosting profitability by selectively winning orders for liquefied natural gas (LNG)-powered carriers, which are regarded as high-value ship
LG Energy Solution will seek lithium hydroxide production in Morocco with a Chinese company. Morocco is a country that has signed a free trade agreement (FTA) with the United States. The North African nation also has a logistical advantage as a bridgehead to the European market.However, if the Unite
The Financial Services Commission decided to change regulations related to foreign bank branches’ won loan-to-deposit ratios so that they can expand corporate loans and competition with commercial banks can be promoted.According to the new regulations, domestic banks and foreign bank branches with w
The Bank of Korea announced on April 5 that South Korea’s foreign exchange reserves increased US$780 million to US$426.07 billion last month.The U.S. dollar depreciated last month, when the bankruptcy of Silicon Valley Bank caused more uncertainties and expectations for slower interest rate hikes in
The Japanese government announced on March 31 that a semiconductor manufacturing equipment export ban would be implemented in July. The ban will be applied to 23 types of equipment used for advanced chip manufacturing. Although targets were not specified, it is highly likely that the ban is to isola
The Defense Acquisition Program Administration announced on April 5 that a short-range air-to-air missile (AIM-2000) for testing purposes was successfully separated from an armed KF-21 during its flight and store separation test.Earlier, on March 28, the administration tested two KF-21s. The first s
Hyundai Motor Group (Hyundai Motor and Kia Corp.) ranked third overall in the U.S. electric vehicle market in the first quarter of this year. Its competitors are rapidly expanding their share with the introduction of the U.S. Inflation Reduction Act (IRA).Hyundai Motor and Kia sold a combined 14,703
Following the deployment of the Cheonmoo, a multiple launch rocket system (MLRS) produced by Hanwha Aerospace, Saudi Arabia has confirmed that it has also deployed LIG Nex1’s Bigung, a low-cost guided imaging rocket (LOGIR). An increase in arms exports has significantly expanded the percentage of ex
The author is an analyst of Shinhan Securities. He can be reached at jhwon@shinhan.com -- Ed.We now expect Interojo to post decent results in line with market consensus for 1Q23 at consolidated sales of KRW31.9bn (+12.1% YoY) and operating profit of KRW7.4bn (+5.0% YoY, operating margin of 23.1%).Ex
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed.Although the decision to raise electricity and city gas rates in 2Q23 has been put on hold, investment focused on the need for rate hikes remains valid.EU energy market in last week of MarchOver M
The author is an analyst of Shinhan Securities. He can be reached at ldh@sinhan.com -- Ed.1Q23 preview: Sales recognition of ample order backlogHD Hyundai Electric is expected to have recorded sales of KRW501.9bn (+43% YoY) and operating profit of KRW35.2bn (+110% YoY) in 1Q23, beating the market co
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.We maintain our Neutral rating on the construction sector for April. We continue to recommend Samsung Engineering and Hyundai E&C as top picks, given that overseas order conditions and government a
ArkData has partnered with AJICT, a company with expertise in ICT development and professional operations.ArkData and AJICT pledged to engage in close collaboration and shared strategies to achieve mutual growth during the exclusive distribution agreement signing ceremony on the 4th.ArkData, which h
SK hynix has decided to issue exchangeable bonds (EBs) worth 2 trillion won abroad. The purpose of the issuance is to raise operating funds while a deficit is expected in the first quarter of this year following the fourth quarter of last year due to a prolonged slump in the semiconductor industry.S