Lotte Chemical has sold off all of its plants producing general-purpose petrochemicals in China. General-purpose petrochemicals have become a marginal business for the company with deteriorated profitability due to aggressive expansion by Chinese companies.According to industry sources on Oct. 9, Lo
While the number of foreign nationals subscribing to domestic personal medical insurance is on the rise, it has been observed that the incurred losses and loss ratios of foreign policyholders under personal medical insurance have also increased.According to the “Status of Foreign Nationals’ Personal
Korea’s shipbuilding industry lost ground to its rival, the Chinese shipbuilding industry, in September.According to Clarkson Research, a U.K.-based shipbuilding and shipping market analyst, global ship orders totaled 1.86 million CGT (71 ships) in September of 2023, down 59 percent from the same mo
Korea’s foreign exchange reserves fell for the second consecutive month in September as the U.S. dollar continued to strengthen.Korea’s foreign exchange reserves stood at US$414.1 billion at the end of September, down by US$4.18 billion from US$418.3 billion at the end of August, according to foreig
Tesla’s Model Y, a five-seat midsize electric sport utility vehicle (SUV), was the top-selling imported vehicle in Korea in September. Purchases of the model swelled as it was loaded with Chinese-made lithium iron phosphate (LFP) batteries which helped lower its retail price, analysts say.According
“We see the power of knowing this case,” said journalist-turned-director Julie Ha about her first documentary film, ‘Free Chol Soo Lee’ ahead of its release in Korea later this month. The second-generation Korean American recently traveled to Seoul for special pre-screenings, one of which took place
LG Energy Solution has secured a long-term agreement with Toyota, the world’s largest automaker, ensuring that it will now supply electric vehicle (EV) batteries to all of the top five global automakers, namely Toyota, Volkswagen, Renault-Nissan, Hyundai, and GM.On Oct. 5, LG Energy Solution announc
Foreign direct investment (FDI) in South Korea reached a record high of US$23.95 billion (32.48 trillion won) by the end of the third quarter this year. The surge in investment, primarily focused on advanced industries such as secondary batteries, came from the European Union (EU) and regions in the
In a move seen as a counter to Apple’s upcoming pre-sale of the iPhone 15 series in South Korea on Oct. 6, Samsung Electronics has unveiled its Galaxy Fan Edition (FE) series after a two-year hiatus.On Oct. 4, Samsung Electronics announced the launch of its new Galaxy FE lineup comprising Galaxy S23
The author is an analyst for NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.Shinsung ST is a manufacturer of busbars and module cases for EV batteries. The firm has secured differentiated competitiveness thanks to its in-house mold design technology and its establish
The author is an analyst for NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com -- Ed.While global smartphone sales continued to slide y-y in August, the Chinese market achieved y-y growth for the first time since Mar 2021. We expect market conditions to continue improving after Sep
As the global energy market is rapidly changing, South Korea, the world’s third-largest importer of liquefied natural gas (LNG) after Japan and China, is also closely monitoring the situation.According to the Korea Customs Service on Sept. 3, South Korea’s cumulative LNG import volume and import val
HD Hyundai Heavy Industries (HHI) is expected to be the first company to win a second batch of liquefied natural gas (LNG) carrier orders for its LNG project from Qatar Energy, the state-run energy company of Qatar, beating out Chinese shipbuilders. The contract alone is worth US$3.9 billion for 17
Tensions and conflicts are intensifying in the “semiconductor war” between the U.S. and China. As the first anniversary approaches of the U.S. government’s decision to restrict exports of semiconductor chips and equipment to China on Oct. 7 of last year, an update on policies regarding “Artificial I
After an absence of 1 year and 9 months, Samsung Electronics’ proprietary mobile application processor (AP), Exynos, is set to return. Following last year’s controversy over the Game Optimization Service of the Galaxy S22, Samsung had been exclusively using Qualcomm’s Snapdragon 8 2nd generation in
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
SK on has secured the top position in Fortune’s “Change the World” list, an accolade that recognizes the world’s most innovative companies. This achievement marks the highest-ever ranking for a global battery manufacturer.On Sept. 27 (local time), Fortune unveiled its list of “2023 World-changing In
The author is an analyst for NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.While China’s petrochemical demand set new records in Aug 2023, product spreads remained weak, owing to both strong oil prices and lofty supply. While capacity ramp-up should decrease in 2024, alread
The U.S. government is reportedly set to indefinitely halt restrictions on the export of U.S.-made semiconductor equipment to Samsung Electronics and SK hynix factories in China.The U.S. Commerce Department’s Bureau of Industry and Security (BIS) has been in talks with Samsung Electronics and SK hyn
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