The overseas performances of major commercial banks have improved in the first half of this year. The improvement in performance in China and Southeast Asian subsidiaries has supported this trend.In the first half of this year, the four major commercial banks collectively recorded a net profit of 60
Midsize domestic automakers gearing up for electric vehicle production in South Korea are actively seeking partnerships with overseas battery suppliers from countries like China and Japan. This move comes as South Korean battery manufacturers, including the top three, are increasing their overseas i
LG Magna e-Powertrain, an electric vehicle parts joint venture between Korea’s LG Electronics and Canada’s Magnet International, is continuing to invest heavily in overseas factories in China and Mexico.LG Magna recently decided to invest 40.7 billion won (US$30.5 million) in its Nanjing production
China-based CATL, the world’s leading electric vehicle battery company, has unveiled a lithium iron phosphate (LFP) battery that can cover up to 400 km on a 10-minute charge. With the increasing adoption of LFP batteries in the global electric vehicle market, the news has caught the attention of Sou
Samsung Electronics’ sales in China for the first half of this year have declined by more than 12 trillion won compared to the same period last year. There are visible signs of Samsung’s movement away from China, with both the number of their operational facilities and employees in the country on th
Korea’s trade balance in the information and communications technology (ICT) industry provisionally reached a surplus of US$3.19 billion in July after a slowdown in a drop in exports from April to June.The Ministry of Trade, Industry and Energy (MOTIE) said on Aug. 16 that ICT exports reached US$14.
Silicon, a material for anode materials, is emerging as a “game changer” that will significantly increase driving ranges on a single charge or shorten charging time.According to the secondary battery material industry on Aug. 16, leading Korean companies such as SK, LG, and POSCO have begun preempti
Hyundai Motor has wrapped up the acquisition of a plant from General Motors (GM) in India, which has emerged as the world’s third-largest auto sales market. This will enable the Korean carmaker to build a production system with a minimum capacity of 1 million units in India.In addition, when the exp
Samsung Electronics has established a research and development (R&D) organization in Silicon Valley in the United States with the aim of enhancing its competitiveness in next-generation semiconductors. This decision is seen as a response to the growing uncertainties caused by economic downturns and
In the first half of this year, the combined research and development (R&D) investments of Korea’s leading battery manufacturers, LG Energy Solution, Samsung SDI, and SK innovation, surpassed 1 trillion won for the first time on a half-year basis.According to industry sources on Aug. 16, the R&D inv
Samsung SDI is set to construct a lithium iron phosphate (LFP) battery production line at its Ulsan factory, marking the first of its kind in South Korea.According to industry and government sources on Aug. 16, Samsung SDI is in discussions with the Ulsan city officials about building a next-generat
La Boutique Bleue Cell Beauty (LBB) has inked an export agreement worth 800 billion won with multinational conglomerate Shinwha Group.The Shinwha Group, with which LBB has signed this deal, has overseas subsidiaries in major countries including China, Hong Kong, Vietnam, the U.S., and France. It ope
Large-scale LNG export projects in North America from 2022 to 2023 are expected to fuel orders for LNG carriers to transport them.According to sources in the shipbuilding industry and foreign media outlets on Aug. 15, the final investment decisions were made on three LNG projects in North America -–
The author is an analyst for Shinhan Securities. She can be reached at inhae.ji@shinhan.com -- Ed.Earnings hit a new high in 2Q23JYP Entertainment set new record-high earnings with sales of KRW151.7bn (+124% YoY) and operating profit of KRW45.7bn (+88% YoY) in 2Q23. Both sales and operating profit f
Samsung Electronics has decided to sell a portion of its shares in the Dutch semiconductor equipment manufacturer Advanced Semiconductor Materials Lithography (ASML) after holding onto them for seven years. This move is interpreted as an effort to secure funds for investment, especially as the compa
After a decade-long downturn, HD Korea Shipbuilding & Offshore Engineering, Samsung Heavy Industries, and Hanwha Ocean are gaining momentum in realizing substantial profits. In July, domestic shipyards reclaimed the title of being the world’s top shipbuilding nation from China, a position they lost
On Aug. 11, Cosmax, a global cosmetics R&D and production (ODM) company based in Korea, held a ceremony to celebrate the completion of a joint venture factory with Yatsen. It is the largest single cosmetics factory in Asia. With the new plant, Cosmax will expand its presence in the Chinese market.Th
For two consecutive months Japan has surpassed China to rank second in South Korea’s trade deficit rankings, following a narrowing deficit with China.According to the “July 2023 Export and Import Trends” report released by the Ministry of Trade, Industry, and Energy on Aug. 13, the trade deficit wit
The market for Micro Light Emitting Diode (microLED) panels, emerging as a next-generation display, is a domain where the domestic display industry, which is even being chased by Chinese companies in the OLED sector, can showcase a dominant market share in the future based on their advanced technolo
The United States is accelerating its resurgence in the manufacturing sector. While the rivalry with China is one factor, there is also an awareness that maintaining a nation’s competitiveness requires establishing a supply chain based on manufacturing. On the other hand, as South Korea, a nation th