Japan’s Sony Group has surpassed Samsung Electronics in operating profit for the first time in 24 years. Just 14 years ago, the combined operating profit of nine major Japanese electronics companies did not even reach half of Samsung Electronics’. With Sony’s strong performance last year, however, i
South Korea’s share of China’s import market fell to 6 percent last year. This is the lowest level in 30 years since 5.2 percent in 1993, the year after the establishment of diplomatic relations between South Korea and China. South Korea also slipped to third place in the rankings of countries from
EcoPro announced that it exported approximately 107,000 tons of high nickel cathode materials in 2023, up 24.4 percent from 86,000 tons in 2022. EcoPro’s high nickel cathode material exports exceeded 10,000 tons for the first time in 2018 with 16,000 tons and then steadily increased to 18,000 tons i
South Korea’s foothold in the Chinese market is narrowing while its dependency on imports from China is growing. The relationship that used to yield the most trade surplus for South Korea with China seems to have reversed.According to the Korea International Trade Association (KITA) on Jan. 28, Chin
SK hynix announced on Jan. 25 that it plans to more than double the production capacity of High Bandwidth Memory (HBM) this year compared to the previous year. This move is part of the company’s strategy to capture the new demand from artificial intelligence (AI) applications.This shows the confiden
Hanon Systems, a global automotive thermal energy management solution company based in Korea, announced on Jan. 24 that its cumulative production of R744 electric compressors utilizing eco-friendly refrigerants has exceeded 500,000 units.The company produces eCompressors utilizing R744 at its Palmel
NEOPIN, a decentralized crypto banking service, announced today that it has signed a strategic business agreement (MOU) with Catalyze Research (Catalyze), a web3 and blockchain consulting firm, and Futureverse, a metaverse, artificial intelligence (AI), and infrastructure development company, to exp
Daewoo Engineering and Construction announced on Jan. 23 that it has completed the construction of the Mumbai Trans Harbour Sea Link, the longest sea bridge in India.In 2018, Daewoo E&C started its participation in the the Mumbai Trans Harbour Sea Link construction project through a joint venture wi
Lotte Biologics recently announced the signing of a strategic business agreement with NJ Bio, a U.S.-based Contract Research Organization (CRO) specializing in non-clinical and clinical contract research, to provide one-stop Antibody-Drug Conjugate (ADC) services. Established in 2018, NJ Bio, based
In 2023, the volume of kimchi exports turned to growth, reaching a new record high. The global K-content craze had an impact on the increase in kimchi exports, experts say.According to the Korea Customs Service on Jan. 21, South Korea exported 44,041 tons of kimchi in 2023, up 7.1% from 41,118 tons
South Korea’s six major high-tech strategic industries have seen their shares in export markets plummet, losing ground to rival countries. The six strategic industries include semiconductors, displays, secondary batteries, future vehicles, biotech, and robotics.The six industries’ exports in 2022 wa
Hwang Joo-ho, the CEO of Korea Hydro & Nuclear Power (KHNP), has been engaging in activities to secure the Dukovany new nuclear power plant project in the Czech Republic for two days from Jan. 16.On Jan. 17, CEO Hwang visited the Czech Power Company (CEZ) and the Czech Ministry of Industry and Trade
A forecast has emerged predicting substantial growth in South Korea’s exports this year. On Jan. 18, the Bank of Korea (BOK) published an issue note titled “Assessment and Insights on Global Growth and Trade Post-Pandemic – BOK Issue Note.”The BOK foresees an expansion in South Korea’s export growth
The author is an analyst for NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.Specialized in rechargeable battery safety solutions, Inics manufactures battery cell pads and fire-resistant barriers. It has successfully secured an initial market for EV safety-related com
South Korean ramen exports nearly reached US$1 billion last year. According to the Ministry of Agriculture, Food and Rural Affairs on Jan. 17, ramen exports stood at US$952.4 million last year and marked a whopping increase of 24.4 percent compared to the previous year. Ramen exports have been consi
Korea’s automobile exports hit a record high of USUS$70.9 billion in 2023.Korea’s automobile exports increased 31.1 percent year on year to US$70.9 billion last year, according to 2023 annual automotive industry data released by the Ministry of Trade, Industry and Energy (MOTIE) on Jan. 16. This sur
A well-known Chinese automotive manufacturer is currently under investigation by South Korean law enforcement agencies for allegedly establishing a subsidiary in South Korea and illicitly acquiring domestic battery technologies from Samsung SDI and SK on, formerly SK innovation.According to industry
Korea Water Resources Corporation (K-water) participated in CES 2024 held in Las Vegas, Nevada, the U.S., from Jan. 9 to 12. It was joined by 19 partner companies, collectively providing opportunities for global market expansion.K-water’s booth attracted numerous global buyers, investors, accelerato
South Korean passports took second place in the global passport power rankings. They moved up one spot from third place last year.The number of countries that give visa-free entry to Korean passport holders stood at 193, which means Korean passports claim second place, tied with Finland and Sweden,
MBK Partners announced that Moon Joo-Ho, the executive director in charge of special situations investments in Korea, was promoted to the position of partner and vice president on Jan. 1.Vice President Moon graduated from Seoul National University with a degree in Business Administration and holds a