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
Australian Strategic Materials (ASM) is a company focused on mining and processing rare earth elements and critical minerals that has a strong partnership with Korea. Business Korea conducted a written interview with ASM CEO Rowena Smith to ask her about her company’s business activities, its Dubbo
Samsung Biologics and Pfizer announced a strategic partnership on June 8 for the long-term contract manufacturing of multi-product drugs.Samsung Biologics and Pfizer first signed a contract manufacturing agreement for a single product last March, and Samsung Biologics is expected to manufacture Pfiz
On June 8, SK innovation's board of directors approved a shareholder agreement to attract investment for SK on. This follows the same pattern as the US$800 million (approximately 1.5 trillion won) limit approved from the MBK consortium on May 24, a contract between SK innovation, SK on, and a ne
On June 7, LG Energy Solution announced it had signed a Joint Development Agreement (JDA) and strategic investment contract with the Australian battery materials and equipment company Novonix Limited. Synthetic graphite, a crucial component of battery anodes, will be jointly developed under this agr
Samsung Electronics is set to supply Hyundai Motors with its Exynos Auto V920, an application processor (AP) which serves as the “brain” of the vehicle. This semiconductor handles the real-time operating information of the vehicle and processes high-definition videos and games that can be enjoyed wi
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.Following the debt ceiling deal, we expect the US government and Fed’s ‘double QT’ to replace rate hikes. In Dec 2021, the US government’s short-term borrowing led to shrinking MMF balances, a higher
Samsung BioLogics is moving closer to attaining its goal of becoming a top-tier global biotech company.John Lim, CEO of Samsung BioLogics, held a press conference at Bio USA in Boston, the United States on June 5 (local time) and revealed the status of his company’s contract manufacture organization
Korean industry is experiencing the phenomenon of an exit from China and sluggish exports. While it is positive for corporate Korea to diversify export destinations, it is negative for it to post a drop in exports. Even amid a U.S.-China conflict, voices are being raised to call for attempts to prom
Hyundai Rotem is poised to initiate local production of K2 Black Panther tanks in Poland. The South Korean company is aiming to extend its cooperation with Polish companies to manufacture tanks in Poland in addition to exporting those produced domestically.On June 5, it was reported that Seo Jun-mo,