South Korea’s exports to China are expected to surge in 2024 due to a recovery of the IT market in China. However, South Korea is unlikely to record a large trade balance surplus as in the past due to an increase in imports of Chinese batteries and the declining competitiveness of Korean products.“I
Samsung Electronics’ 5G communication equipment is being supplied to the telecommunications operator TELUS, which has embarked on strengthening its 5G network by establishing Canada’s first Open Radio Access Network (OpenRAN).TELUS announced on Feb. 17 through its newsroom that it is expanding its c
Despite the current economic downturn, South Korea’s top three battery manufacturers are ramping up their investments in infrastructure this year to strengthen their business foundations. According to industry sources on Feb. 18, LG Energy Solution plans to invest approximately 10.9 trillion won in
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.C&C International’s 4Q23 results met consensus, if excluding incentive compensation. As of 1Q24, domestic and North America-focused orders are up 80% y-y. Backed by hit products from multiple indie
As the global political environment is expected to change due to elections in major countries, Korean industries discussed trade issues such as global policy responses with the Korean government. Companies submitted recommendations to the Korean government on trade issues, including difficulties in
Global sales of hydrogen vehicles fell more than 30 percent in 2023 from the previous year. The decline was largely due to a slump in sales of Hyundai Motor which ranked first in the global hydrogen vehicle sales standings and held the majority of the global hydrogen vehicle market share.The total n
Hanon Systems (018880) announced on Feb. 14 that its preliminary consolidated financial results for last year showed an operating profit of 277.2 billion won (US$207.9 million), up 8.1% from the previous year. Sales revenue increased by 10.8% to 9.5593 trillion won and net income rose by 120.2% to 5
Global electric vehicle registrations, excluding those in China, crossed 5.5 million units in 2023, marking a growth rate of 30 percent. Hyundai and Kia also fared well, ranking fourth in global deliveries.About 5,648,000 electric vehicles were registered globally in 2023, excluding those China, up
Executives and experts from domestic e-commerce companies such as Coupang are collaborating to develop strategies in response to the aggressive expansion efforts of Chinese e-commerce platforms including AliExpress and Temu.According to industry sources on Feb. 14, the Ministry of Trade, Industry an
News about BYD’s entry into South Korea has drawn attention to changes in the share of the South Korean electric vehicle market dominated by Hyundai Motor. BYD is a Chinese electric vehicle maker. Experts predict that BYD’s price competitiveness will play a big role in determining its success in the
Korean shipbuilders lagged behind Chinese shipbuilders to take second place in global ship orders in January.Global ship orders totaled 2.57 million CGT (96 ships) in January, down 26 percent year on year, according to Clarkson Research, a U.K.-based shipbuilding and shipping market research firm. O
The competition in the foldable phone market is expected to intensify this year. Amid predictions that Chinese companies, including Huawei, are set to release a “tri-fold phone” that can fold both inwards and outwards twice, Samsung, a leader in the foldable phone market, is anticipated to unveil it
APR, scheduled for a listing by the end of this month, held a press briefing on Feb. 13 to disclose its future business vision and strategy post-IPO.At the event, APR CEO Kim Byung-hoon expressed his ambition to grow APR into the world’s leading beauty tech company, spearheaded by Medicube. He belie
The global electric vehicle battery market, excluding China, has continued its strong growth trend, reaching close to 40 percent growth last year. While the battery usage by the three major K-battery companies increased significantly, their market share saw a slight decline.According to SNE Research
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
The European Union (EU)’s decision to approve a Korean Airlines-Asiana Airlines merger is fast approaching, drawing more attention from the airline industry. While many experts believe that approval will be given with some conditions, a formal outcome has not come out, keeping both airlines on edge.
China is dominating the global battery market backed by overwhelming growth in its home market. Stopping China’s rise in the global battery industry has become a big challenge for Korea, which ranks second in the market behind Chinese companies as well as the United States and Europe.Six of the worl
Korea’s four major oil refiners are posting a gradual drop in their exports to China. They are diversifying their export destinations to Australia, Japan, and other countries to fill the void. China used to be Korea’s top petroleum product export market.According to the Korea National Petroleum Asso
As global electronic component companies that manufacture Multi-Layer Ceramic Capacitors (MLCCs) seek breakthroughs by expanding their automotive MLCC businesses amid ongoing smartphone demand slumps, Samsung Electro-Mechanics, a leading South Korean MLCC company, is focusing its investments on the
Civic groups in Pohang, North Gyeongsang Province, collectively known as the “POSCO Citizens’ Response Committee,” held an urgent executive committee meeting on Feb. 12 to formally oppose the nomination of former POSCO President Jang In-hwa as the CEO candidate for POSCO Holdings.The Citizens’ Commi