The European Parliament passed the Carbon Border Adjustment Mechanism bill on April 18. The Council of the European Union is likely to give final approval next month to complete the legislation.The bill is to impose additional tariffs on steel, aluminum, fertilizer, electricity, cement, and hydrogen
Hyundai and Kia cars were excluded from electric vehicles eligible for subsidies in the form of tax credits announced by the U.S. government based on the detailed guidelines of the Inflation Reduction Act (IRA), raising a red flag in possibly expanding their market shares in the United States, the l
The U.S. Department of Commerce raised a question about cheap electricity rates through a preliminary ruling, saying, “The Korean government is actually subsidizing the Korean steel industry.” Even three years ago, U.S. officials thought that electricity rates in Korea were not subsidies, but now th
The Korean government will prepare itself for China’s move to weaponize resources such as rare earth elements used throughout high-tech industries. The first step is preemptively securing international standard quality and recycling rare earth elements.As the United States has begun to exclude China
Global leading tire company Hankook Tire has released its latest brand film, iON X Formula E, in homage to the brand’s Formula E sponsorship. The purpose of the brand film is to profile the company's position as a leading brand in the global EV market, showcasing a premium, high-tech, innovative
The implementation of the Inflation Reduction Act (IRA) has been fueling market competition between Korea and Japan over the U.S. electric vehicle battery market.Japan's Panasonic is considering investing around US$5 billion (about 6.5 trillion won) to build a third electric vehicle battery plan
Hyundai Mobis, an automotive parts arm of Hyundai Motor Group, announced on April 17 that it has developed the world's first automobile rollable display.The rollable display rolls up and down when entering and exiting the vehicle. When the car is turned off, the screen disappears completely, and
Hyundai Motor Group, which re-entered the Japanese market last year after 13 years, faced difficulties again. Starting with the IONIQ 5, a dedicated electric vehicle that received favorable reviews in the global market, it knocked on the door of the Japanese market again, but it has not produced any
The Bank of Korea predicted that recent industrial policies to place national priorities above others would eventually have a negative impact on the global economy.In a report on the status and implications of major countries’ “me-first” industrial policies on April 16, the BOK’s U.S.-Europe Economi
ZKW, a subsidiary of LG Electronics in the automotive lighting business, was listed as the company that applied for the third-most patents in Europe last year among Austrian companies.According to ZKW on April 14, ZKW accounted for 61 (close to 30 percent) of 224 patents filed by Austrian companies
In 2022, R&D investments by the three major Korean battery companies -- Samsung SDI, LG Energy Solutions, and SK On -- exceeded two trillion won for the first time ever.Their R&D investments rose by 576.2 billion won (US$444.3 million) or 35.7 percent to 2.1871 trillion won (US$1.6866 billion) in 20
According to China’s state-run Xinhua News Agency on April 13, President Xi visited LG Display’s factory and the R&D center for electric vehicle Aion under China’s Guangzhou Automobile Group (GAC) as part of a tour of Guangzhou in Guangdong Province of China on April 12.The Chinese political leaders
SK IE Technology (SKIET) announced on April 13 that President and CEO Kim Chul-jung visited Poland from Oct. 10-13 (local time) to inspect SKIET’s separator production plant in Poland and met with local government officials to discuss cooperation.Kim made his first stop at SKIET Poland’s Plant 1. Th
LG Energy Solution and Samsung SDI differed on a timeline for commercializing all-solid-state batteries which are considered to be the next generation of batteries. While LG Energy Solution believed that it was difficult to commercialize all-solid-state batteries even by 2030, Samsung SDI made it cl
Amidst the ongoing slump in the semiconductor industry, Samsung Electronics and LG Electronics are expanding their overseas automotive electronics markets by selecting the automotive electronics business as their new growth driver.According to foreign media outlets and industry sources on April 12,
POSCO Group and Japanese automaker Honda will join hands in the electric vehicle (EV) business. Their cooperation will range from procurement of anode and cathode materials for batteries to battery recycling.POSCO Group Chairman Choi Jung-woo and Honda President Toshihiro Mibe signed a comprehensive
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com -- Ed.Moving ahead, SKC is set to benefit production mix improvement (following the operation of its Malaysian plant), new customer acquisition, and concrete plans for capacity expansion in North America.
Samsung Display will supply state-of-the-art organic light emitting diode (OLED) panels to supercar brand Ferrari.Samsung Display announced that it signed a memorandum of understanding (MOU) with Ferrari at the Asan Campus on April 11 to develop display solutions to be loaded into Ferrari’s next-gen
“We will increase Korea’s electric vehicle production capacities five times by 2030 to grow Korea into one of the top three global future car powerhouses,” President Yoon Suk-yeol emphasized on April 11. Hyundai Motor Group also announced its strong will to seize the hegemony of the electric vehicle
The author is an analyst of Shinhan Securities. He can be reached at jinmyung.lee93@shinhan.com -- Ed.1Q23 operating profit to fall short at KRW145bnSK Innovation is expected to have recorded operating profit of KRW145bn (positive swing QoQ) in 1Q23, missing the market consensus of KRW341.7bn. The r