Hanwha Aerospace and Hanwha Systems announced on Feb. 13 that they signed a trilateral memorandum of understanding (MOU) for cooperation in the defense industry with the Saudi Ministry of National Defense during the World Defense Show 2024, a comprehensive defense exhibition in the Middle East held
During the Lunar New Year holiday, Lee Jae-yong, chairman of Samsung Electronics, visited the Samsung SDI battery manufacturing facility in Malaysia, emphasizing the need for bold investments despite challenges. On Feb. 12, Samsung Electronics reported that Chairman Lee, having arrived in Malaysia o
The CEO Candidate Recommendation Committee of POSCO Holdings finally chose former POSCO President Jang In-hwa, a long-time POSCO insider, with rich experience in the steel business.POSCO Holdings held an extraordinary board meeting on Feb. 8 and resolved to select former POSCO President Jang In-hwa
SK hynix and Taiwan’s TSMC have established an “AI semiconductor alliance.” SK hynix, riding the wave of generative AI popularity, has emerged as a leader in the high bandwidth memory (HBM) market, while TSMC is the world’s largest semiconductor foundry. The strategy aims to consolidate the companie
Samsung Biologics has announced a collaboration with LegoChem Biosciences for the development of Antibody-Drug Conjugate (ADC) therapeutics.On Feb.7, Samsung Biologics revealed it had entered into a new Contract Development Organization (CDO) agreement with LegoChem Biosciences (hereinafter referred
Kim Joo-sun, president of SK hynix, who is in charge of the newly established artificial intelligence (AI) infrastructure, announced on Feb. 7, “We will continue to ensure that no one doubts the proposition ‘AI memory equals SK hynix’ by enhancing communication and partnership to maximize the value
Coway Co., Ltd., the “Best Life Solution Company,” has released its financial results for the fourth quarter and fiscal year 2023."We’re proud to have achieved such a successful 2023, even in the face of significant challenges present in both domestic and international markets. Our stable performanc
The voices of labor unions within Samsung Group are growing louder. This is because not only are affiliate unions demanding the same wage increase through solidarity but the launch of a unified union, beyond affiliate unions, is on the horizon.On Feb. 6, the Samsung Group Trade Union Solidarity, a f
For the third year in a row since 2020, HL Mando changed the first digit of its annual sales figure, ushering in the era of 8 trillion won in sales.HL Mando announced on Feb. 5 that its sales increased 11.7 percent from the previous year to 8.3930 trillion won (US$6.3255 billion) and its operating p
SillaJen announced on Jan. 1 that it has applied to the U.S. Food and Drug Administration (FDA) for approval to amend the Investigational New Drug (IND) application for Phase 1 clinical trials of its BAL0891 cancer drug candidate.BAL0891 is a mitotic checkpoint inhibitor (MCI) class anticancer drug
Kia Corp.’s market capitalization has outstripped Hyundai Motor’s. The automaker’s record-breaking earnings and strong shareholder return policy paid off handsomely, stock market experts say. Some of them believe that there is a remaining upside as the price-to-earnings ratio (PBR) is still below 1x
According to the Financial Supervisory Service’s electronic disclosure system on Jan. 31, the largest shareholder of Namyang Dairy Products has changed from Hong Won-sik and three others to Hahn & Co., as disclosed the day before. This announcement comes just over a month after the Supreme Court’s f
The author is an analyst for Shinhan Securities. She can be reached at hpark@shinhan.com -- Ed.4Q23 OP falls short due to inventory adjustments at distributorsAmorepacific posted consolidated operating profit of KRW20.7bn (-64% YoY) on sales of KRW926bn (-15% YoY) for 4Q23, missing our estimate (KRW
Samsung SDI has commenced the full-scale shipment of its “dream battery.” the solid-state battery.At the performance report meeting held on Jan. 30, Park Jong-sun, vice president of Samsung SDI’s Large Business Division, announced, “During the fourth quarter of last year, we started shipping samples
Samsung Electronics and SK hynix are planning to mass-produce GDDR7 DRAM, a next-generation DRAM for graphics cards, within the first half of this year. GDDR7 DRAM, which is mainly used in Graphics Processing Units (GPUs) -- a core of the Artificial Intelligence (AI) era -- is expected to continue S
The market capitalization gap between South Korea’s Samsung Electronics and Taiwan’s TSMC, leading semiconductor companies, has widened over the past year. While TSMC has benefited from rising expectations in AI, South Korean firms are considered undervalued.Data from the global market capitalizatio
Last year, South Korea achieved a historic high in whiskey imports, surpassing 30,000 tons. In contrast, wine imports decreased by over 20 percent, showing a downward trend for the second consecutive year.According to the trade statistics released by the Korea Customs Service on Jan. 30, the import
Samsung Electronics is set to launch its new Galaxy S24 series in China, featuring “Erniebot,” an artificial intelligence (AI) chatbot developed by Baidu as a response to OpenAI’s ChatGPT.According to foreign media reports on Jan. 29 (local time), Baidu announced that Samsung Electronics will utiliz
Bentley Motors announced on Jan. 29 that it delivered a total of 13,560 units in the global market last year, the third highest performance in its history.In South Korea alone, the automaker sold a total of 810 vehicles in 2023. For the second year in a row, South Korea ranked fifth in Bentley sales
Four labor unions representing Samsung affiliates, including Samsung Electronics, Samsung Display, Samsung Fire & Marine Insurance, and Samsung Biologics, will merge to form a consolidated labor union. The launch of this mega labor union is scheduled for the end of this month. The establishment of t