Goldman Sachs said in its report on Dec. 11 that the South Korean economy, the 12th-largest in the world this year, is likely to fall at least three notches for 53 years to come on condition that South Korea fails to put the brakes on its low fertility and rapid aging.“By contrast, the populations a
The number of cancelled IPOs in the South Korean stock market is likely to reach an all-time high this year. This year’s number is currently 13 according to the Korea Exchange.A total of 70 companies went public in the market this year, whereas the number was 91 last year. The scale of the IPOs decr
A South Korean consortium is expected to invest US$130 million in X-Energy, an American private nuclear reactor and fuel design engineering company.The consortium is expected to include Doosan Enerbility and DL E&C and its equity ratio is estimated to be 5 percent. PEF Whale Investment is planning t
Samsung Electronics and LG Electronics will face off in the organic light emitting diode (OLED) monitor market. They have begun to use OLED panels for high-performance gaming monitors.LG Electronics launched a new OLED gaming monitor, starting to expand its market share. The product uses an OLED pan
The Bank of Korea announced on Dec. 12 that the market value of foreign exchange and OTC derivatives trading in South Korea was US$67.7 billion at the end of June this year, according to the Bank for International Settlements. The figure increased 89.9 percent in three years.The market value was cal
The sale of Humira biosimilars in the United States is scheduled to start next month. This market is expected to be as huge as US$17.3 billion. More than 10 global biopharmaceutical companies are focusing on it, including Amgen, Samsung Bioepis, and Celltrion. Samsung Bioepis' biosimilar will be
The Ministry of Trade, Industry and Energy announced on Dec. 12 that South Korean automakers’ output and exports increased 25.4 percent and 25 percent last month, respectively. Auto exports increased for five months in a row to reach a new high. Electric and hydrogen vehicle exports set new records,
Samsung Electronics and SK Hynix have reorganized themselves to respond to a slump in the semiconductor industry. They are seeking to break through the complex global crisis, in which sales are declining due to an economic downturn and the war for supremacy between the United States and China is acc
Reuters reported on Dec. 12 that Chinese shipbuilders are benefiting from fully-booked Korean shipyards. Citing shipbuilding data from Clarksons Research, Reuters reported that Chinese shipbuilders won orders for 45 LNG carriers worth US$9.8 billion this year, a five-fold increase from 2021. The num
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed. National Assembly rejects revisions to KEPCO Act— On Dec 8, the National Assembly rejected revisions to the KEPCO Act that would raise the ceiling for bond issuances. The KEPCO ceiling is currently set at
Doosan Enerbility announced on Dec. 12 that it had obtained a type certification from DEWI-OCC, the Germany-based international certification authority, for its 8MW offshore wind power system (Model Name: DS205-8MW).Since 2018, Doosan Enerbility has been pursuing the development of the 8MW large-cap
Tata Group, India's largest conglomerate with US$128 billion in 2022 revenue, will make a foray into the semiconductor business. The powerful group is expected to seek partnerships with existing semiconductor companies in the United States, Korea, Japan, and Taiwan.According to a Nikkei Asia rep
Intel CEO Pat Gelsinger met with Kyung Kye-hyun, president of Samsung Electronics’ Device Solution (DS) Division, and Kim Woo-joon, president of the Network Business Department of the Device Experience (DX) Division, on Dec. 9 to discuss cooperation in the semiconductor field.Upon arrival in Korea f
LS Cable & System announced on Dec. 9 that it has signed a contract worth 150 million euros to supply extra-high voltage submarine cables to Hai Long Offshore Wind Farm in Taiwan.The Hai Long wind power generation complex is the largest offshore wind farm in Taiwan. When completed in 2026, it will b
Hyundai Motor Group and SK On will build a joint venture battery plant in Georgia of the United States. The plant, scheduled to be completed in 2025, will supply batteries for Hyundai Motor and Kia brand electric vehicles (EVs) in the United States.According to Georgia Governor Brian Kemp’s office,
The Bank of Korea announced on Dec. 9 that South Korea recorded a current account surplus of US$880 million in October. Although it showed a surplus for the second consecutive month, the surplus dropped US$7.13 billion compared to October 2021.This is because imports increased unlike exports. On a c
Samsung Securities said on Dec. 10 that military spending accounted for 2.2 percent of the global total GDP last year. The United States accounted for 38 percent of the spending and China’s was US$293 billion, about one-third of the United States’.In most European states, military spending made up l
South Korean convenience store companies are expanding their business abroad. They are currently running more than 700 stores in Vietnam, Malaysia, Mongolia, etc.GS25’s first overseas store opened in Vietnam in 2018, when CU opened its first overseas store in Mongolia. CU is currently running 280 in
Google started the world’s first self-driving car development project in 2009. Since then, multiple companies have invested huge money in the technology. Skepticism is increasing nonetheless.Apple recently changed its plan a lot. Previously, the company announced that it would come up with a Level 5
The Korea Exchange announced on Dec. 11 that foreign investors recorded a net selling of 56.7 trillion won in KOSPI from January 2020 to Dec. 8, 2022, when domestic individual investors recorded a net buying of 131.2689 trillion won in the same market.The net selling by foreign investors was approxi