S-OIL on Sept. 22 held charity event “Sharing Songpyeon (traditional Korean half-moon-shaped rice cake) with S-OIL” at its head office building in Mapo-gu, Seoul together with the Mapo Community Welfare Center of Loveaid Foundation.On that day, the CEO and some 100 employees prepared 500 Chuseok gif
On Sept. 14, HD Hyundai’s HD Hyundai Energy Solution announced that it has signed a solar module supply contract with Portugal’s MCA Company amounting to 130 MW. The total contract value is 422 billion won (US$318 million).Under this contract, HD Hyundai Energy Solution will supply approximately 200
In the span of a year, bad loans in corporate lending from the five major banks have surged by over 400 billion won (US$300.98 million), heading towards the 3 trillion won mark. With the corporate sector facing economic challenges, there are concerns that the fierce competition in corporate lending
Last year, South Korea’s private debt growth rate relative to its gross domestic product (GDP) was reported to be the highest in the world. While households and businesses are reducing their debt in most countries in the aftermath of COVID-19, South Korea is drawing attention for moving in the oppos
Samsung C&T’s Trading & Investment Division announced on Sept. 14 that its U.S. renewable energy subsidiary, Samsung C&T Renewables, has signed a sale and development service agreement for a 3 gigawatt (GW) solar and energy storage system (ESS) project in southern Texas with Sunraycer Renewables, a
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
A Korean Air cargo plane will become the first in Korea to refuel with bio-aviation fuel (SAF) and conduct a test flight.According to the Ministry of Industry, Trade, and Resources and the Ministry of Land, Infrastructure, and Transport on Sept. 5, Korean Air flight KE207, a B777 cargo aircraft taki
Fundamental solutions such as shared growth of content and platforms and global distribution of videos and films are needed in order to improve the competitiveness of the Korean media industry, which is facing a crisis due to the rise of global over-the-top (OTT) service providers such as Netflix. T
Major Korean petrochemical companies have been downsizing or selling off their film businesses, which were once significant business areas. This is because they find themselves in a situation where they cannot sell their products at fair prices, as China has increased production with low-priced prod
In a bid to reinforce the future of smart living, industry rivals Samsung Electronics and LG Electronics are joining hands to establish a “Smart Home.” Their collaboration involves integrating both companies’ smart home platforms in the cloud to bolster interconnectivity between appliances.On Aug. 2
The Monetary Policy Committee (MPC) of the Bank of Korea (BOK) has decided to maintain the benchmark interest rate at 3.50 percent annually. This marks the fifth consecutive freeze following similar decisions in February, April, May, and July.The MPC held a monetary policy direction meeting on the m
POSCO E&C announced on Aug. 24 that it signed an agreement with Equinor, a leading global company in the offshore wind power sector, on Aug. 23 to drive the “Ulsan Bandibuli (firefly)” project, the world’s largest floating offshore wind power venture.Through this agreement, POSCO E&C plans to establ
“Team Korea,” comprising public corporations, private enterprises, and policy funds, has successfully undertaken a massive solar project in the U.S. valued at 600 billion won.The Korea Overseas Infrastructure & Urban Development Corporation (KIND) and the PIS Fund (Plant, Infrastructure, Smart City
South Korea’s household electricity rates are 40 percent of Japan’s, making it cheaper compared to the G7 countries, according to a new report.Japan’s Nikkei calculated the 2022 household electricity bills of the G7 countries based on International Energy Agency (IEA) statistics and found that Italy
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
LG Household & Health Care (LG H&H) announced on Aug. 10 that their “Toothbrush Diet Project” had been awarded the top prize in the Packaging Design category at the Red Dot Award: Design Concept 2023.The Toothbrush Diet Project was launched with the aim of minimizing plastic usage in toothbrush manu
On July 28, Doosan Enerbility completed a continuous 240-hour operational test of its first domestically produced gas turbine engine with 270 MW output and initiated commercial operation at the Gimpo Combined Heat and Power Plant operated by Korea Western Power (KOWEPO). Through this achievement, KO
In 2Q 2023, LG Household & Health Care (LG H&H Co., Ltd) reported 1.8tr won in sales (-3.0% yoy), 158bn won in operating profit (-27.1% yoy).The Company sales decreased mainly due to Beauty’s 8% yoy decline, while HDB and Refreshment sales grew slightly yoy. Operating profit for the Company decrease
SK Inc. has laid out an ambitious plan to invest 23 trillion won (US$17.82 billion) in eco-friendly initiatives by 2025, with a primary focus on “energy transition.” SK Group Chairman Chey Tae-won has shown keen interest in transforming SK’s business landscape from a petroleum-centric structure to o
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.Yuhan posted 2Q23 consolidated OP of W27.1bn, significantly beating consensus. Earnings should continue to improve on: 1) the likely listing of Lazertinib as a first-line treatment for NSCLC in Korea