HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean, three major Korean shipbuilders, have accumulated orders worth over 130 trillion won. Having secured a substantial workload, these shipbuilders are focusing on enhancing profitability and developing new types of vessels.Accordi
The South Korea-Iraq Joint Committee, which has been suspended for the past six years, is set to resume this year. The government plans to support Korean companies to secure large projects underway in areas such as Bismayah New City in Iraq.The Ministry of Land, Infrastructure, and Transport announc
Korea Hydro & Nuclear Power (KHNP) has set up a task force to bid for a facility improvement project at Romania’s Chernaboda Nuclear Power Plant No. 1.KHNP established the task force on June 7 in order to take on a contract for the facility improvement project at Chernaboda Nuclear Power Plant No. 1
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.Following revision of the price basket housing component to a new contractual basis, core inflation has plummeted. The culprit behind core inflation rigidity has now gradually come to be seen as bein
The author is an analyst for Shinhan Securities. He can be reached at cgh815@shinhan.com -- Ed.Direct beneficiary of fuel cell industry growthExpansion of the fuel cell industry is directly leading to growth of the hydrogen tank industry, with the tanks playing a key role in hydrogen supply systems
Korea Expressway Corporation announced on June 16 that it participated in the opening ceremony of the 66 km Almaty Ring Road in Kazakhstan and began operation and maintenance of it.About 500 people attended the opening ceremony, including Kazakhstan’s Minister of National Economy Kuantyrov Alibek Sa
Korean companies lost about 40 trillion won in cash and cash equivalents at the end of April 2023 compared to the end of 2022. Funds at the core affiliates of the four major Korean business groups -- Samsung, SK, Hyundai, and LG – also plummeted. These companies are holding strategy meetings and wor
Ascend Elements, a U.S. waste battery recycling company that received investment from SK ecoplant, has begun to dominate supply chains in the North American battery market by signing a mega-supply contract with a U.S. automaker.Ascend Elements announced on June 7 (local time) that it has signed a co
In the fiercely competitive landscape of South Korea's 5 trillion won burger market, Shake Shack, a front runner in the premium burger sector, is setting out to solidify its top position.According to market research firm Euromonitor on June 15, the domestic burger market, worth 2.6 trillion won
The Korean government has been deploying foreign workers to solve a labor shortage at shipyards in recent years, but it is causing some problems in the field.As thousands of foreign workers were hired by Korean shipbuilders in a short period of time, conflicts between existing workers and newly hire
Last year, companies’ debt-to-equity ratio hit an eight-year high of about 102 percent. The rising interest rate increased interest burdens and toughened business conditions. The number of zombie companies unable to cover interest expenses with operating income reached 35 percent.The interest covera
A cross-strait conflict between Taiwan and China is creating new opportunities for the Korean shipbuilding industry. Taiwanese shipping companies and ship owners are turning to Korean shipbuilders instead of Chinese.On June 13, Samsung Heavy Industries was shortlisted for a container order from Taiw
On June 13, the Korea Fair Trade Commission (KFTC) rejected a voluntary consent resolution plan proposed by Broadcom, a U.S. telecommunications semiconductor company, after being accused of abusing Samsung Electronics. This is because the KFTC judged that the amount of compensation for the damage wa
The sales volume of the top 10 foundries (semiconductor subcontract manufacturing) globally shrunk by 18.6% from the previous quarter. While the market share of Taiwan’s TSMC, the top player, exceeded 60%, Samsung Electronics’ share dropped to the 12% range.On June 12, market research firm TrendForc
A former senior executive of Samsung Electronics, referred to as Mr. A, has been arrested and will stand trial for his attempt to copy Samsung Electronics' semiconductor plant in its entirety in China.The Defense Industry and Industrial Technology Crime Investigation Division of the Suwon Distri
Apple’s next-generation extended reality (XR) device, the Vision Pro, is emerging as a new growth driver for the Korean display industry, but Sony landed the order for highly lucrative high-cost internal displays for the device.The production cost of the Vision Pro is about US$1,519 while its retail
Order jackpots have been boosting Korean defense companies’ earnings. With exports to Poland in full swing, the combined operating profit of Korea’s top five defense companies is expected to more than double by 2024, bringing the figure closer to 2 trillion won.According to industry sources and Hanw
The government announced on May 29 that it will discuss the resumption of Korea-Japan currency swaps, which were previously suspended in 2015, at the Korea-Japan Finance Ministers' Meeting to be held in Tokyo, Japan.Choo Kyung-ho, deputy prime minister and minister of economy and finance, respon
The South Korean government has jumped into the semiconductor power struggle between the United States and China. President Yoon Suk-yeol presided over a National Semiconductor Strategy Meeting held on the morning of June 8. During the meeting, President Yoon said, “The competition in semiconductors
On June 8, POSCO INTERNATIONAL announced through an electronic disclosure that its subsidiary, POSCO MOBILITY SOLUTION, has signed a supply contract for the drive motor cores of 2.5 million premium flagship electric vehicles to be mass-produced by Hyundai Motors from 2025 to 2034.Prior to this, POSC