Kumho Tire announced on Nov. 30 that it signed a memorandum of understanding (MOU) with European petrochemical group Synthos for the joint development of sustainable tire raw materials. Both companies plan to collaborate on a project for the research and development of NdBR using Bio-Butadiene (Bio-
Samsung SDI, which has been restructuring its battery materials business and strengthening its capabilities in battery cell manufacturing, is now actively investing in cathode materials. The company’s shift in focus has drawn significant attention as it departs from its previous strategy of streamli
SK Geo Centric breaks ground on the world’s first integrated waste plastic recycling complex in Ulsan, opening a new chapter for South Korea’s circular economy. This world’s first factory is expected to enhance South Korea’s capabilities in tackling domestic environmental issues related to plastics
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.The transportation industry enjoyed a market boom during the pandemic era, but with trade volume growth slowing and supply growth accelerating, supply burden has increased, bringing down tariffs. The
SK energy, a refining subsidiary of SK innovation, announced on Nov. 10 that its board of directors had decided to establish a new corporation, tentatively named “SK Tank Terminal,” through the corporate division of its crude oil operation and marine shipping organization. The new entity, a wholly o
Amid the global economic downturn and challenges such as weakened demand for petrochemical products as well as increased self-sufficiency in China, which is the largest market for domestic companies, the South Korean petrochemical industry is accelerating business restructuring.According to Korea Cr
L’Oréal Korea announced the 2023 winners of ‘L’Oréal Big Bang Open Innovation’ and held an award ceremony on November 8, at the global startup festival 'COMEUP 2023' hosted by the Ministry of SMEs and Startups and organized by the Korea Startup Forum.L’Oréal Big Bang Open Innovation is the first reg
The author is an analyst for Shinhan Securities. He can be reached at jinmyung.lee93@shinhan.com -- Ed.3Q OP of KRW1.56tr (positive swing QoQ) beats consensusSK Innovation turned positive QoQ in 3Q23 and registered operating profit of KRW1.56tr, beating the KRW1.05tr consensus. The refining division
The author is an analyst for NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.Adhering to Hyosung TNC as our petrochemical industry top pick, we raise our TP by 18% to W520,000. With the price of spandex remaining strong despite raw material price decrease, the spandex spread
Seven Korean companies, including LG Electronics, Lotte Chemical and Samsung Fire & Marine, have joined RE100 this year, bringing the total number of Korean companies to 34, according to the U.K.-based Climactic Group on Nov. 3.This means that Korea has the fourth-most number of companies after the
Global leading tire company Hankook Tire & Technology (Hankook Tire) hosted the official kick-off meeting for the ’Tire-to-Tire Circular Economy Model’ consortium on November 1 in Daejeon, South Korea. Held at the Hankook Technodome, the event marked the start of the consortium’s efforts to create t
ENEOS Corporation (Representative Director and President: Takeshi Saito, “ENEOS”) and SK Innovation Co., Ltd (Vice Chairman & CEO: Kim Jun; “SK Innovation”), along with multiple subsidiaries of SK Innovation, announced today a conclusion of Memorandum of Understanding (“MOU”) designed to consider co
During his six-day state visits to Saudi Arabia and Qatar, President Yoon Suk-yeol secured business contracts totaling $202 billion (27.3 trillion won). With these trips, he concluded his diplomatic rounds with the “Big 3” Middle Eastern countries, which began with a visit to the United Arab Emirate
Hyundai Engineering, in collaboration with Hyundai E&C, has secured a colossal project in Saudi Arabia worth US$2.3 billion for the expansion of a major gas plant.On Oct. 23 (local time), at the NEOM Exhibition Hall in Riyadh, Saudi Arabia, during the 50th Anniversary Celebration of Korea-Saudi Cons
On Oct. 22 (local time) in Riyadh, Saudi Arabia, the Korea Electric Power Corporation (KEPCO) announced that it had signed a contract with Saudi energy companies to collaborate in the hydrogen ammonia and grid sectors.Through this agreement, KEPCO, along with POSCO Holdings and Lotte Chemical, has a
The author is an analyst for NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.We downgrade our rating on the petrochemical industry to Neutral. Significant demand improvement is unlikely in 2024, and both oversupply and burdensome oil price levels are likely to persist. In our
It is expected that domestic petrochemical companies engaged in the oil refining business will achieve an improvement in their performance in the third quarter. After incurring significant losses in the second quarter, the oil refining sector is anticipated to generate profits due to the upward tren
McKinsey introduced the content of its report, “Koreas Next S-Curve,” to international media outlets at Shilla Hotel in Seoul on Oct. 19. In the report, the company proposed three pillars of reorganization, transformation, and construction and eight action items for Korea’s economic renaissance.McKi
LG Chem is setting up a New Energy Demonstration Plant to produce eco-friendly fuels such as aviation fuel using Carbon Capture and Utilization (CCU) technology, which decomposes carbon dioxide (CO2) into raw materials.Reports from the industry on Oct. 18 suggest that LG Chem will construct a “CCU D
There is a growing consensus that a revision of the South Korea-China Free Trade Agreement (FTA) is necessary to address the trade deficit with China. South Korea’s trade surplus with China has been shrinking every year until it turned into a deficit in October last year, marking 12 consecutive mont