The U.S. Treasury Department announced on June 16 that it will continue to list South Korea on the currency watchlist on its official website.Other countries included on the list are China, Switzerland, Germany, Malaysia, Singapore, and Taiwan. Japan, which was on the previous watchlist, is now off.
In the fiercely competitive landscape of South Korea's 5 trillion won burger market, Shake Shack, a front runner in the premium burger sector, is setting out to solidify its top position.According to market research firm Euromonitor on June 15, the domestic burger market, worth 2.6 trillion won
SKC announced on June 12 that it has signed a comprehensive business agreement on “eco-friendly, high-tech materials” with Hai Phong City at its headquarters in the Jongno district of Seoul.Based on this agreement, SKC plans to incrementally review investments in eco-friendly materials and future ad
The International Monetary Fund (IMF) has warned of possible corporate debt distresses in Asian countries, singling out Korea as becoming one of the most vulnerable if high interest rates persist.In its report on corporate debt in Asia on May 29, the IMF aggregated by country the percentage of total
In the first quarter, the size of South Korea's household debt surpassed the Gross Domestic Product (GDP). Among the 34 major countries, South Korea was the only one unable to repay all household debt with its annual national income. It was also the sole country among the major economies globall
The Indo-Psacific Economic Framework (IPEF), a U.S.-led economic cooperative formed to counter China, has released its first significant result: a supply chain agreement involving 14 participating countries. The main aspect of this agreement is a joint response by the participating nations to supply
Korea Aerospace Industries (KAI) has signed a final contract with the Malaysian Ministry of Defense for the export of 18 FA-50 light attack aircraft on May 23 in Malaysia.The Ministry of Defense and KAI announced that Defense Minister Lee Jong-seob and Malaysian Defense Minister Mohamad Hasan attend
LIG Nex1 will be making its first appearance at the Langkawi International Maritime & Aerospace Exhibition LIMA 2023. This global exhibition takes place on the island of Langkawi, Malaysia, running from May 23 to 27.This year, the 16th instance of the LIMA event, is an international showcase in the
Shinhan Card announced on May 19 that it held a seminar under the theme of “Public Policy Establishment Cases Utilizing Big Data” at Shinhan Card's headquarters on May 18, inviting policy makers from the Hungarian Ministry of Finance and the National Tax Administration of Hungary.The seminar was
The European Union (EU), currently reviewing the merger of Korean Air and Asiana, has once again expressed a negative opinion.According to Korean Air and other sources on the 18th, the EU Commission released an examination report the day before, stating concerns about price increases and service qua
Huawei, which has been hit hard by the U.S. ban on semiconductor equipment exports to China, made a winning move by entering the digital transformation (DX) business in the industrial field.The Chinese IT giant held the Huawei Asia-Pacific Partner Conference 2023 in Shenzhen, China, on May 17 (local
Coway Co., Ltd., the “Best Life Solution Company,” today reported financial results for the first quarter of 2023.“Coway maintained stable sales revenue and operating profit throughout the first quarter,” said Soon Tae Kim, Coway’s Chief Financial Officer. "Despite the challenges posed by a global e
After the outbreak of the U.S.-China trade conflict, in the U.S. imported semiconductor market, the share of Chinese-made semiconductors shrank by one-third while that of Taiwanese-made products has doubled over the past four years. That of Korean-made chips inched up a bit as well.China’s share of
The author is an analyst for Shinhan Securities. He can be reached at ldh@shinhan.com -- Ed.1Q23 review: Fixed cost burden from project delaysKorea Aerospace Industries posted sales of KRW568.7bn (-11% YoY) and operating profit of KRW19.4bn (-51% YoY) for 1Q23, falling far short of the consensus est
The author is an analyst for Shinhan Securities. He can be reached at jinmyung.lee93@shinhan.com -- Ed.1Q23 falls short at an operating loss of KRW21.7bn (RR QoQ)SKC posted an operating loss of KRW21.7bn (continued loss QoQ) for 1Q23, faring worse than market expectations for a KRW2.9bn loss. Sales
The author is an analyst of Shinhan Securities. She can be reached at sunmi.kim@shinhan.com -- Ed.OP beats consensus by 30% for a second straight quarterSamsung Engineering posted consolidated sales of KRW2.5tr (+17.1% YoY, - 13.8% QoQ) and operating profit of KRW225.4bn (+29.2% YoY, +5.1% QoQ) for
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.Samsung Engineering’s 1Q23 earnings far exceeded consensus, thanks to an improved COGS-to-sales ratio at the non-hydrocarbon division. Although the lack of new orders for overseas projects is somew
Korea Agro-Fisheries & Food Trade Corporation announced on April 25 that 124 South Korean restaurant companies entered 35 overseas markets with 141 brands and 3,833 stores in the second half of last year. Compared to the same period of the previous year, the numbers of companies, brands and stores i
Lotteria, a Korean hamburger franchise that opened in Korea in 1979, is focusing on expanding to overseas markets. The company is considering entering neighboring Singapore and Malaysia to capitalize on its success in the Vietnamese market where the Korean hamburger giant has enjoyed significant gro
On April 13, POSCO International announced a new vision for the first time after its integration with POSCO Energy at the Songdo Convensia in Incheon. Under the vision of Green Energy & Global Business Pioneer, the company aims to increase its current market capitalization from 3.8 trillion won to 2