Toyota, the world’s No. 1 automaker, announced on Aug. 31 that it would invest up to 730 billion yen to ramp up production of batteries for electric vehicles (EVs) in both the United States and Japan. The announcement was made in two days after Honda, another Japanese automaker, announced plans to j
Samsung Electronics vice chairman Lee Jae-yong will go on a business trip to Europe, including the United Kingdom, from Sept. 9 to 12 and then visit the United States and Central and South America including Panama from Sept. 18 to 20.During a business trip to Europe in June, Lee visited the Netherla
South Korean conglomerate heads born in the 1950s, who led the industrialization of the country, are retiring one after another. The current mainstream is those born in the 1960s, those born in the 1970s are emerging, and those born in the 1980s are following them.In Hanwha Group, the seventh-larges
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com. -- Ed. Apple’s upcoming XR device is expected to start mass production around Nov 2022 and see release in 1Q23. Meta’s new XR device is likely to launch in Oct 2022. We expect the related market to grow
As the four major Korean business groups are joining the U.S. government's efforts to reorganize the global supply chains, Korean builders are enjoying an increase in orders from the United States. Among the 85 countries that placed construction orders with Korean builders, the United States ran
OLED TVs are growing fast in the premium TV market in Europe -- so much so that gfu of Germany said in a recent report that OLED TVs are the winner of the German TV market. Founded in 1973 as the Society for the Promotion of Consumer Electronics in Germany, gfu is the organizer behind the IFA, Europ
LG Energy Solution has teamed up with Honda Motor Co. of Japan to build a joint venture battery plant in the United States. This is the first strategic cooperation agreement between a Korean battery maker and a Japanese automaker. Batteries made by the two companies will be used for Honda’s first de
Demand for automotive OLED panels is growing, helping LG Display offset the drop in demand for both large LCD and OLED TV panels. The imbalance between supply and demand for automotive semiconductors began to gradually ease from the second half of 2022, revitalizing the downstream industry. Global s
The Korea Exchange announced on Aug. 28 that foreign investors’ net buying in KOSPI was 5.38 trillion won from July 14 to Aug. 26.“They showed this year’s first net buying in KOSPI on July 14 and they concentrated on large-cap stocks, including LG Energy Solution, Samsung Electronics, Samsung SDI, H
LG Innotek is in talks with Tesla over a camera module supply deal worth 1 trillion won, the company said in a public disclosure on Aug. 25.The company acknowledged press reports about its negotiations with Tesla, but said that nothing has been fixed."We plan to make another disclosure about the mat
The author is an analyst of Shinhan Investment Corp. He can be reached at hyungwou@shinhan.com. -- Ed. 2Q review & 3Q outlook: Strong earnings despite fixed cost hikesLG Innotek posted operating profit of KRW289.9bn (+91% YoY) on sales of KRW3.7tr (+57% YoY) for 2Q22, delivering peak season level ea
LG Electronics plans to launch an automotive electronics talent nurturing program next year, starting with Hanyang University and Kookmin University. It aims to enhance its competitiveness by expanding the domestic automotive electronics industry ecosystem.The company is expanding investment in auto
Market research firm Omdia announced on Aug. 23 that the global TV market share of Samsung Electronics and LG Electronics was 48.9 percent on a sales value basis in the first half of this year.Samsung Electronics distinguished itself in the ultra-large and high-end TV segments. In the first half, it
Hyundai Mobis announced on Aug. 22 that Hyundai Motor Group (HMG) and LG Energy Solution have secured US$710 million to finance the construction of a battery cell joint venture plant in Indonesia.Hyundai Motor Group and LG Energy Solution plan to withdraw the fund sequentially from five overseas fin
As the United States is in a hurry to strengthen its supply chains, Korean companies are accelerating their investments in North America. SK Group has recently announced a large-scale investment plan in North America. In a video interview with U.S. President Joe Biden in July, SK Group chairman Chey
Starting from Aug. 16 (local time), the United States halted paying subsidies for electric vehicles (EVs) not assembled in North America. U.S. President Joe Biden signed the Inflation Reduction Act on the day. The U.S. government released a list of EVs eligible for subsidies. Only 21 models assemble
LG Chem acquired 8.75 percent of Tianqi Lithium in the Hong Kong stock market last month. Tianqi Lithium is the largest lithium supplier in China and the largest lithium extractor in the world.Recently, the two companies signed a contract in June this year for lithium hydroxide supply in 2023 to 202
The combined share of Samsung Electronics and LG Electronics in the global TV market is likely to fall below 50 percent this year, as Chinese manufacturers are increasing their share amid demand contraction.In the first half of this year, Samsung Electronics’ share was 31.6 percent, down 1.1 percent
LG Chem has joined hands with Archer Daniels Midland (ADM) of the United States to set up an eco-friendly bio plastic plant in the U.S.The company announced on Aug. 16 that it signed an agreement with ADM to launch two joint ventures, one for lactic acid (LA) and the other for poly lactic acid (PLA)
LG Household and Healthcare (H&H) announced that the company's L. Heritage 1947 Refill Station located in Garosu-gil, Seoul has won the 2022 Red Dot Design Award in the Brands & Communication Design category.The Red Dot Design Award hosted by the Zentrum Nordrhein Westfalen Design Center, German