Hyosung Advanced Materials is ramping up its sales volume by supplying various tire cords as the electric vehicle market has been steadily growing.In 2022, the global sales of electric vehicles increased by 71.8 percent year on year to 8.2 million units. This accounted for 10 percent of total global
SK Plasma announced on March 24 that SK Plasma CEO Kim Seung-joo signed a joint declaration to build and operate a blood products plant in Indonesia at an event attended by Korean Minister of Health and Welfare Cho Kyu-hong and Indonesian Health Minister Budi Gunadi Sadikin in honor of the 50th anni
Leaders in the global semiconductor equipment and component industry are expanding their production and R&D bases in South Korea.For example, Applied Materials is considering setting up an R&D center in Yongin, which is home to Samsung Electronics and SK Hynix plants and an R&D center of Lam Researc
MSC and Maersk recently announced that they would end their alliance in January 2025. In addition, the Ocean Alliance’s contract is scheduled to end in 2027. The current global market share of the MSC and Maersk alliance is 40 percent and that of the Ocean Alliance is 35 percent.Each of Maersk and M
Apple Pay fees are causing controversy as the company is applying a 0.15 percent fee in South Korea. At present, the rate is 0.15 percent in the United States as well as South Korea, 0.12 percent in Russia, 0.05 percent in Israel, and 0.03 percent in China.“Affiliated South Korean card companies’ bu
South Korean enterprises’ overseas reserves decreased in January this year, which means their money transferred to South Korea exceeded their revenue from overseas direct investment. It is said that South Korea’s new corporate tax scheme for double taxation mitigation played a role.According to the
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com -- Ed.The major insurers under our coverage have disclosed their simplified financial statements under new 2022 IFRS17. CSM is expected to be the core of future insurance company valuations.IFRS17 summary fi
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Regulations surrounding the telecom service industry are intensifying. KT’s CEO appointment process has failed multiple times, and SKT has launched an intermediate rate plan, with the two other tel
As a gateway to Korea, Incheon is a city open to the world as it boasts both Incheon Port and Incheon International Airport. It is growing into a world-class city with a population of 3 million, including wide plains and mountains, the sea, and numerous islands large and small. Business Korea conduc
Rolls-Royce Motor Cars, which achieved the highest sales performances since its foundation in 2022, will launch its first pure electric vehicle, the Spectre, in Korea in June of this year. This will be the first launch in Asia. The luxury car brand achieved strong business results based on the Asia-
Canada is actively taking steps to build a Korean battery value chain. The nation is trying to get attention from Korean battery makers by promising federal and state incentives for them. The United States and the European Union (EU) which share a customs union with Canada, announced trade policies
SK On, together with Korean and foreign partners, will build a precursor production facility in the Saemangeum Industrial Area in Korea.Precursors are key raw materials, such as nickel, cobalt, and manganese, that account for more than 65-70 percent of the production cost of cathode materials. The n
A search for a new owner for Hyundai LNG Shipping is accelerating. Hyundai LNG Shipping is Korea’s No. 1 company in shipping liquid natural gas (LNG). As major shipping companies in the United States and Europe are emerging as candidates for the acquisition of Hyundai LNG Shipping, the shipping comp
Experts say that China will continue to curb steel production again this year as it did last year. Accordingly, attention is focusing on whether Korean steel makers’ price negotiation power will increase as the amount of low-priced Chinese steel products will be reduced.According to foreign media ou
The interest rate gap between Korea and the United States widened to a record high as the U.S. Federal Reserve took the baby step of raising its key interest rate by 0.25 percentage points. As the possibility of overseas capital outflows increased due to the widening of differences in interest rates
Samsung Electronics established an Advanced Package (AVP) organization in charge of packaging technology and product development in December of last year. The Korean semiconductor giant announced its goal to go beyond the limits of semiconductors with advanced packaging technology.“We at the AVP Bus
On March 22 (local time), Spectrum, a partner of Hanmi Pharmaceutical, explained market reactions to Rolvedon launched in the United States last year in a press release about the fourth quarter of 2022.Spectrum posted US$10.114 million in Rolvedon sales as of Dec. 31 last year. It plans to continue
SPC’s bakery brand Paris Baguette entered the Canadian market by opening its first store in Toronto on March 22 (local time).Canada is the 10th overseas country where Paris Baguette has opened a store, and it is a representative market of the English-speaking region known for being the world’s secon
LS Cable & System announced on March 23 that it has won a contract to supply undersea cables worth approximately 110 billion won (US$85 million) to Taiwan Power Corporation (TPC) for a wind farm to be built in the western sea of Taiwan.Taiwan will complete a 5.5 GW wind farm as the first offshore wi
In February of 2023, residents’ foreign currency deposits in Korea declined by more than US$11.7 billion from the previous month, the largest decrease in 10 years and eight months since June 2012. This is attributable to a drop in deposits in all currencies, including the U.S. dollar and euros, as w