Domestic sales and exports of electric vehicles plummeted in the first quarter of 2024, while sales of hybrid vehicles ballooned. The analysis is that hybrid vehicles, which are more fuel-efficient and environmentally friendly, are becoming a substitute as electric vehicles have fallen into a chasm
Despite positive signs in the Korean economy such as an increase in semiconductor exports, many growth rate forecasts are still in the low 2 percent range. One explanation is that low growth has stagnated while economic structural reforms have been stalled.According to the Ministry of Strategy and F
As Western Digital, the world’s third-largest NAND flash company, formalized a price hike for solid state drives (SSDs) and hard disk drives (HDDs) in the first half of the year, Samsung Electronics and SK hynix’s NAND business is expected to switch to the black in the first quarter of 2024.Western
Hyundai Mobis announced its participation in the 37th World Electric Vehicle Symposium and Exhibition (EVS37), which will take place at COEX in Seoul from April 23 for four days, where it will showcase its core technologies for future mobility.EVS37 is the world’s largest electric vehicle symposium
U.S.-based semiconductor company Intel has declared a counteroffensive in the AI semiconductor market led by Nvidia. Intel plans to create an open platform for AI development that rivals Nvidia’s semiconductors and AI development platform, aiming to form a new alliance system. For this purpose, Inte
The trilateral military alliance of the United States, the United Kingdom, and Australia, known as “AUKUS,” is reportedly considering South Korea as a potential cooperation partner for joint development of advanced military technology. This development has raised expectations for “K-Defense,” which
As the commercialization of all-solid-state batteries, often referred to as the “battery of dreams,” approaches, Korean battery materials companies are pumping up their efforts to build an ecosystem.According to industry sources on April 10, Samsung SDI recently started building a domestic supply ch
Minister Ahn Deok-geun of the Ministry of Trade, Industry and Energy is embarking on a trip to the United States ahead of the announcement of the nuclear power plant operator selection in the Czech Republic.The U.S. court has dismissed the lawsuit filed by Westinghouse against Korea Hydro & Nuclear
The domestic steel industry continues to remain tense despite favorable factors such as a decrease in raw material prices and production cuts in China. With demand continuing to shrink due to economic downturns, inventory buildup persists, leaving little room for relaxation.According to the steel in
After enduring difficulties in the first quarter, major Korean entertainment companies have been aggressively marketing themselves. They are also changing their consumer bases, shifting from a profit structure that relies on core fans to target light fans, those who consume music lightly.According t
Kia has lowered its sales target for China by more than half in a year.At its 2024 CEO Investor Day on April 5, Kia maintained its global sales target for 2030 at 4.3 million units, the same as last year.However, the Korean carmaker has cut its China sales target by more than half (230,000 units) fr
SPC Group’s Paris Baguette will break into Latin America.According to industry sources on April 9, Paris Baguette has begun to enter the Mexican market through its U.S. subsidiary. This means that the Korean bakery giant will penetrate the Latin American market for the first time.Paris Baguette is l
HMM is set to enhance its market share on the major U.S. routes by deploying additional container ships. This strategy is part of their plan to seize a “performance turnaround” opportunity by maintaining high sea freight rates ahead of long-term freight contracts.According to the maritime industry o
In response to China’s aggressive dumping tactics, experts are advising that now is the time to refine three traditional measures: anti-dumping duties, countervailing duties, and safeguards. There is also a growing argument for bolstering barriers through measures such as limiting tax-exempt limits
Amid astronomical subsidies being poured into the semiconductor industry by countries like the United States and Japan, the South Korean government has decided to explore domestic investment incentives. There’s speculation that discussions on ‘semiconductor subsidy cash support’ could materialize, g
The proportion of foreign investors in the KOSPI market has risen back to the 35 percent range. With expectations of a recovery in the semiconductor industry, a key focus of the government’s “Corporate Value-Up Program,” foreign investors are seen actively opening their wallets.According to the Kore
Coupang has been found to be cheaper than major retailers such as hypermarkets when it comes to groceries and daily necessities that drive shopping cart prices.A recent survey by market research firm Ipsos analyzed the prices of 79 products in 49 categories, including processed food, fresh food, and
The Czech Republic has pushed back the deadline for a rebid for the 30 trillion won Dukovany and Temelin Nuclear Power Plant construction project by two weeks at the request of France.CEZ of the Czech Republic announced on April 8 (local time) that it has extended the deadline for submitting revised
Hyundai Motor and Kia Corp. have decided to use lithium-iron phosphate (LFP) batteries produced by Indian companies in their customized electric vehicle models for the Indian market. Localizing batteries that account for 40 percent of the cost of producing electric vehicles is a way to lower prices
Samsung Electronics’ largest labor union opposed wage negotiation issues has secured the right to go on strike backed by overwhelming support in a member vote, sowing the seed of the first strike in the company’s history.On April 8, Samsung Electronics’ largest union, the Nationwide Samsung Electron