In the United States, a road has been named after South Korean conglomerate SK Group.SK on announced on July 20 that “Steve Reynolds Industrial Parkway,” a road near the SK Battery America (SKBA) facility in Commerce City, Jackson County, Georgia, has been renamed SK Boulevard. Jackson County decide
SK innovation will invest 1 trillion won in three green businesses by 2026. In particular, half of the investment will be spent on hydrogen and ammonia projects. The company will pursue a two-track business strategy of increasing the proportion of green businesses while maintaining the existing petr
As the battery technology development cycle gets shorter and shorter, China heats up the race to secure patents, ratcheting up tension in the battery industry.China’s CATL, the world’s No. 1 battery maker by market share, recently registered a patent on a battery technology in just 39 days according
Korean Trade, Industry and Energy Minister Lee Chang-yang asked the government of Turkmenistan, the world’s fourth-largest natural gas producer, to support Korean companies in winning plant projects. The projects are worth US$2.5 billion (about 3.2 trillion won).Turkmenistan’s natural gas reserves a
Although the minimum wage for 2024 has been set at 9,860 won per hour, which is 2.5% higher than this year's minimum wage of 9,620 won, both labor and management have expressed opposition.Economic organizations and some employer groups have responded with mixed feelings, saying, “It is an inevit
Malicious code has been discovered in Chinese-made measurement devices supplied to government agencies. The National Intelligence Service (NIS) reported that the malicious code was pre-installed in the Chinese equipment before delivery, and they have decided to investigate all Chinese-made devices d
HD Korea Shipbuilding & Offshore Engineering, the mid-tier shipbuilding holding company of Hyundai Heavy Industries, announced on July 19 that it recently signed a shipbuilding contract with Greece’s Capital Maritime Group for two 22,000 cubic meter-class Liquid CO2 (LCO2) carriers totaling 179 bill
Korea Aerospace Industries (KAI) is actively pursuing exports of its FA-50 light attack aircraft to the United States, the world’s largest defense market. The export is expected to be worth 44 trillion won (US$35 billion), and, if successful, it would greatly boost the global standing of the Korean
Hyundai E&C announced that it has signed an agreement with Boryspil International Airport in Ukraine on July 14 (local time) for an airport expansion project. The signing ceremony took place in Warsaw, Poland, attended by Won Hee-ryong, minister of land, infrastructure and transport; Park Sun-ho, ch
In the first half of this year, Korea’s automobile exports surged 46.6 percent year on year to US$35.7 billion, a record high. Including auto parts, the figure reached US$47.3 billion.According to the Ministry of Trade, Industry and Energy (MOTIE) on July 17, Korean automakers exported more than 241
The presence of automotive organic light-emitting diode (OLED) displays in the display market is growing. Experts forecast that their market size and shipments will steadily increase as a shift to software-driven vehicles (SDVs) accelerates, with premium automakers leading the way.According to marke
In a resurgence of the Korean shipbuilding industry, Samsung Heavy Industries has secured a massive order worth nearly 4 trillion won. This is the largest single contract for a ship in the domestic market.Samsung Heavy Industries announced on July 17 that it had secured an order for 16 16,000 TEU (1
On July 10, SK signet announced it has won a contract to supply a minimum of 1,000 fast chargers to Francis Energy, the 4th-largest rapid charger operator in the United States.Francis Energy, originally established in 1934 as Francis Oil & Gas, shifted its business to electric vehicle charging in 20
On July 17, private equity fund (PEF) manager Hahn & Company announced its plans for a second public purchase aimed at acquiring Lutronic, a KOSDAQ-listed laser medical device specialist, with the intention of a merger and acquisition (M&A) and delisting.Hahn & Co plans to purchase 3,735,471 common
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.Truxima’s US market share reached its highest level in 1Q23, but the drug’s quarterly price drop was also the largest in the past three years. We expect earnings growth to centere on Remsima SC in 2H
The author is an analyst for NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.While the value of IS Dongseo’s construction division is bound to be dampened amid lackluster real estate market conditions, it is still to enjoy stable revenue thanks to in-house housing projects
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.We estimate Celltrion’s 2Q23 OP at W193.2bn, slightly below consensus. We trim our annual earnings projections to reflect Truxima price decline in the US. Although Remsima SC earnings likely came in
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.We lower our TP on HiteJinro to W28,000 to reflect increased marketing expenses following the launch of its Kelly brand. That said, we believe earnings concerns as already being baked into the share pr
INMEDIC, a youth-led startup that promotes social inclusion of foreigners through increased access to local medical services, represented the Republic of Korea at the Regional Youth Co:Lab Summit 2023, jointly organized by Citi Foundation and the United Nations Development Programme (UNDP) in Bangko
MediaTek, the global leader in the mobile application processor (AP) industry, is accelerating its market share expansion with the launch of its new chipset.According to industry sources on July 13, MediaTek, Taiwan’s largest fabless semiconductor design firm, recently unveiled its new mobile AP pro