Korea Aerospace Industries (KAI) has made an early delivery of its FA-50GF light attack aircraft for the Polish Air Force. Poland requested the early delivery to showcase the FA-50GF at its Armed Forces Day event scheduled for Aug. 15.According to industry sources on July 10, KAI completed the deliv
New investments in venture startups plunged by one third in the first half of the year. The number of startups that received big investments plummeted.According to startup investment information platform TheVC, startups and SMEs received 2.819 trillion won (US$2.160 billion) in investment in the fir
Overseas construction orders for Korea-based companies hit the highest level in five years in the first half of 2023. Hyundai E&C led the way, winning a US$5 billion plant project in Saudi Arabia late last month.Overseas construction orders to Korea totaled US$17.3 billion in the first half of 2023,
The Korean government will push for an amendment to an executive decree to allow foreign companies to receive cash support for alternative investments other than investments in the construction of new factories or the expansion of existing factories and the creation of jobs. General Motors (GM) and
GS25, a Korean convenience store giant operated by GS Retail, has failed to enter the Malaysian market.According to 1conomynews, a Korean media outlet, on July 9, GS25 chose Malaysia as the third country in its overseas expansion after Vietnam and Mongolia, and announced its strategy to introduce lo
LS ELECTRIC is establishing its first North American production base in the state of Texas in the U.S. This move comes as demand for distribution systems, an essential power infrastructure for factories, is rapidly increasing. This is due to Korean companies in the semiconductor, automobile, seconda
The upcoming state visit of President Yoon Suk-yeol to Poland this week could potentially boost the negotiations for the second round of contracts for the export of Korean defense companies to Poland.According to the Presidential Office on July 9, President Yoon will embark on a tour of Europe from
LG Energy Solution has succeeded in securing a massive supply of lithium to reinforce its North American supply chain.On July 7, LG Energy Solution announced that it had signed a long-term purchase contract for 100,000 tons of lithium over seven years with SQM, a leading lithium producer in Chile.Th
Overseas plant orders to Korean companies increased by more than 40 percent year on year in the first half of 2023. This is due to increased orders, including those for petrochemical facilities from the Middle East.According to the Ministry of Trade, Industry and Energy (MOTIE) on July 6, overseas p
Chairman Koo Kwang-mo of LG Group, Vice Chairman Kim Dong-kwan of Hanwha, and Chairman Koo Ja-yeon of LS are among the conglomerate heads accompanying President Yoon Suk-yeol on his visit to Europe. Chairman Lee Jae-yong of Samsung Electronics, Chairman Chey Tae-won of SK Group, and Chairman Chung E
NextStar Energy, a joint venture between LG Energy Solution and American-European automaker Stellantis, has finally agreed with the Canadian Government on a battery subsidy of 15 trillion won. The two companies have been at odds over the battery subsidy issue, going as far as threatening to suspend
Global battery companies are closely watching Europe’s growing energy storage system (ESS) market. As demand for renewable energy generation has surged due to the Russia-Ukraine war, demand for ESSs to store electric power has also grown considerably.Korean companies such as LG Energy Solution have
Since the full implementation of China’s Hallyu (Korean Wave) Ban in 2016, it has been revealed that a total of 46 Chinese subsidiaries of South Korean corporations have been sold or liquidated. The total revenue scale of these companies is approaching 20 trillion won.On July 5, CEO Score, a corpora
India has previously been heavily dependent on Russian arms. But now the nation has emerged as a new export destination for the Korean defense industry.According to industry sources on July 4, Hanwha Aerospace plans to participate in the Indian Army’s Future Infantry Combat Vehicle (FICV) Project. T
According to Samsung Biologics and related disclosures on July 4, Samsung Biologics has signed contracts with Pfizer worth approximately 1.177 trillion won. Notably, the new contract of about 920 billion won is the largest single contract ever.First, the size of the order contract announced in March
It has been 30 years since Korea began hiring foreign workers in earnest with the introduction of the Industrial Trainee System in 1993, which was replaced by the employment permit system in 2004. But chaos is still lingering in the field.According to small and medium-sized enterprises (SMEs) on Jul
The five major Korea-based automakers (Hyundai Motor, Kia Corp., KG Mobility, Renault Korea Motors, and GM Korea) enjoyed increases in their sales volume in June, thanks to a peak season.According to industry sources on July 3, the five carmakers sold a total of 133,803 units in the Korean market in
Country-specific lending limits at export credit agencies (ECAs) such as the Export-Import Bank of Korea (Korea Eximbank) and Korea Trade Insurance Corporation have emerged as a variable in finance for Korean defense exports. Korea exported 17 trillion won (US$17 billion) worth of defense goods to P
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.Given the VBP policy implemented in Apr 2023, we caution against high expectations toward Dentium’s 2Q23 sales. But, with its Chinese market Q forecasted to climb by 50% in 2Q23, and with the VBP pri
Nine merger and acquisition (M&A) deals worth more than US$1 billion were made in the global pharmaceutical and bio industries in the first half of this year.According to the Korea Biotechnology Industry Organization (KBIO) on July 2, the global pharmaceutical and bio industries recorded nine M&A de