Doosan Digital Innovation (DDI) has entered a strategic partnership with Claroty to provide Operational Technology (OT) security solutions to domestic companies. Claroty, an Israeli firm that has received investment from SoftBank, is a global specialist in Extended Internet of Things (XIoT) security
On Sept. 14, SeAH Group announced its participation in H2 MEET 2023, the world’s largest hydrogen industry exhibition, which opened in Goyang, Gyeonggi Province on Sept. 13, showcasing their vision and differentiated technical capabilities in the hydrogen industry.SeAH Group artistically incorporate
According to industry sources on Sept. 7, wage negotiations between Samsung Electronics and its union have been on hold since April 21, prolonging the cooling-off period.Other electronics affiliates within the group, such as Samsung Display and Samsung Electro-Mechanics, concluded their wage negotia
Concerns are rising that Hanwha Group’s credit rating could be negatively affected as it plans for significant capital-raising activities, including a paid-in capital increase, following the acquisition of Hanwha Ocean. It’s noted that the financial burden on the group has increased by injecting nea
Lotte Group has announced that it will be hosting the “South Korea Brand Expo in Jakarta” in collaboration with the Korea Trade-Investment Promotion Agency (KOTRA) until Sept. 8 in Jakarta, Indonesia.Since it began in 2016, the South Korea Brand Expo is holding its 17th event and has recorded a cumu
Three defense affiliates of Hanwha Group are set to showcase “next-generation weapon systems” in Poland to actively address Europe’s security needs.Hanwha Aerospace, Hanwha Systems, and Hanwha Ocean will present advanced weapon systems in the unmanned and ground, maritime, air, and space sectors at
Koo Kwang-mo, the CEO of LG Group, has embarked on reviewing the progresses and strategies for cultivating future growth areas like biotechnology and artificial intelligence (AI).From Aug. 21 (local time) and over the course of four days, Koo visited Boston, the U.S., and Toronto, Canada, to assess
Hyundai Motor has started the process of selling its Chongqing factory in China, which has been non-operational for over a year. This is the second such move after it sold its Beijing 1 factory in 2021. Hyundai also plans to halt operations and prepare for the sale of its Chengzhou factory, one of t
Correction 8/23 4:09 p.m. KST: A previous version of this story incorrectly stated that the Federation of Korean Industries had changed its name to the "Korea Businesspeople Association." However, the organization has only changed its Korean-language name. Translating that name change into English m
Voices are being raised for a policy shift in the Korean government’s Renewable Electricity 100 (RE100) goal. They say that it is necessary for the Korean government to switch to Carbon Free 100% (CF100), which includes utilizing nuclear energy.According to data submitted to Rep. Han Moo-kyung of th
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
As the importance of carbon neutrality has been growing globally, major Korean companies are focusing on the carbon capture, utilization, and storage (CCUS) business. The idea is to collect carbon dioxide (CO₂) emitted into the atmosphere from fossil fuels to reduce greenhouse gas emissions and then
The four major Korean business groups -- Samsung, S.K., Hyundai, and LG -- have begun to return to the Federation of Korean Industries (FKI).Ahead of the FKI’s extraordinary general assembly on Aug. 22, Samsung will hold a compliance committee meeting to discuss rejoining the organization. Other gro
The author is an analyst for Shinhan Securities. He can be reached at snowKH@shinhan.com -- Ed.2Q23 earnings surprise with OP of KRW52.7bn (+83% YoY)Hyundai Autoever registered operating profit of KRW52.7bn (+83% YoY) on sales of KRW753.9bn (+20% YoY) in 2Q23, an earnings surprise that beats our est
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.After-sales parts division entering the home stretch to recoveryThe key variable determining auto sector earnings has been shifting from ASP levels (inflation) in 2022 to the normalization of supply chai
According to industry sources on Aug. 1, the LG Group is planning to double its current investment in U.S. Silicon Valley venture companies through its Corporate Venture Capital firm, LG Technology Ventures, to 1 trillion won. The aim is to synergize with the future businesses of each LG Group affil
The author is an analyst for NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.Backed by an accelerated digital transformation, mid/long-term growth prospects at Hyundai Autoever’s strategic businesses remain valid. The firm is beefing up: 1) its smart mobility capabilitie
Lotte Shopping has soft opened a mega commercial complex in Hanoi, Vietnam, marking its takeoff to become Asia’s No. 1 shopping center. The move marks a major exit from China and a relocation to Vietnam for Lotte Group’s overseas bases following China’s retaliation against Korean companies, includin
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.2Q23 OP falls short at KRW52.1bn (-6% YoY, +157% QoQ)POSCO Future M posted preliminary operating profit of KRW52.1bn (-6% YoY, +157% QoQ) on sales of KRW1.2tr (+49% YoY, +5% QoQ) for 2Q23, missing market
The financial authorities are significantly easing restrictions on overseas subsidiary investment and capital support to activate overseas expansion of domestic financial companies. Consequently, domestic banks will have looser restrictions on investing in foreign non-financial companies, and insura