The trend of collaborations between domestic and foreign enterprises of various sizes to achieve success in new drug development is on the rise. Such collaborations are viewed within the industry as a potential model for “Korean-style Open Innovation” in the pharmaceutical and biotech sectors.Accord
The Net International Investment Position (NIIP) as a percentage of Gross Domestic Product (GDP), which indicates Korea’s ability to make international payments, stood at 46.3 percent last year, showing an increase of nearly 10 percentage points in just one year. This growth was driven by the expans
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
Imports of Japanese beer have surged while imports of Japanese fish and seafood have plummeted, creating a mixed picture of Japanese imports in the Korean market.Korea imported 1,910 tons of fish and seafood in June, down 34.7 percent from a year earlier, according to trade statistics from the Korea
The South Korean government and private companies are plunging into Ukraine's reconstruction project, which is estimated to be worth more than 1,500 trillion won in total. The government, in partnership with Poland, Ukraine's neighboring country and the largest Ukrainian supporter within Eur
Korea’s steel industry will need to produce more than 10 million tons of steel through a hydrogen reduction ironmaking method by 2040 at the latest if it wants to meet its greenhouse gas reduction target of limiting a global temperature rise to 1.5 degrees C or less, a study has found.Nonprofit thin
Hanwha Ocean has successfully localized key equipment that enhances the survivability of submarines.On July 12, Hanwha Ocean announced the completion of the localization of acoustic equipment such as sonar depth gauges, sonar beacons, and launchable underwater environment measuring devices, which im
India has previously been heavily dependent on Russian arms. But now the nation has emerged as a new export destination for the Korean defense industry.According to industry sources on July 4, Hanwha Aerospace plans to participate in the Indian Army’s Future Infantry Combat Vehicle (FICV) Project. T
Renault Korea, KG Mobility (formerly SsangYong Motors), and GM Korea, three major domestic mid-tier automobile manufacturers, have begun preparations to enter the electric vehicle market. They are preparing for the launch of electric car models and the expansion of some production facilities. Howeve
Korea’s imports from Japan of high-purity hydrogen fluoride, a key material for semiconductors, have exceeded 1,000 tons for the first time since Japan’s economic retaliation against Korea in July 2019.According to the Korea Customs Service on June 21, Korea’s imports of hydrogen fluoride stood at 1
POSCO Group is aggressively growing its secondary battery materials business by investing 1.5 trillion won (US$1.2 billion) to build a nickel and precursor production plant in Pohang, North Gyeongsang Province, Korea in partnership with a Chinese company. The precursor is a material just before bein
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.Following revision of the price basket housing component to a new contractual basis, core inflation has plummeted. The culprit behind core inflation rigidity has now gradually come to be seen as bein
Last month, while imported car sales decreased compared to the previous year, the sales volume of high-end models priced over 100 million won (US$77,892) increased. This indicates an ongoing preference for luxury vehicles among high-income earners, who continue to accelerate their efforts in the Kor
The number of vehicles recalled in Korea since 2017 crossed three million in 2022. By mid-June of this year, 700,000 vehicles were already recalled. Some of these recalls were voluntarily carried out by car manufacturers while others were ordered by the government through the Automobile Management A
On June 7, LG Energy Solution announced it had signed a Joint Development Agreement (JDA) and strategic investment contract with the Australian battery materials and equipment company Novonix Limited. Synthetic graphite, a crucial component of battery anodes, will be jointly developed under this agr
Korea’s exports, the backbone of the Korean economy, contracted for the eighth month in a row and its trade deficit marked its 15-month streak. Although its trade deficit has slowed down somewhat, the Korean economy is showing a recessionary pattern due to a steep decline in imports rather than an i
The author is an analyst for Shinhan Securities. He can be reached at tyc@shinhan.com -- Ed.Focused on exports of baby skin care products and POE packagingZero to Seven manufactures baby skin care products, including shampoo, body wash, lotion and sunscreen, under the brand name of Goongbe. In addit
The United States and China are ramping up their competition over South Korean semiconductors. Following China's sanctions on U.S. semiconductor firm Micron, the two nations are locked in a struggle to fill the resulting gap. China, which had previously launched harsh criticisms such as “playing
Korean battery material companies, including LG Chem, are accelerating the localization of key precursor materials for cathodes following the implementation of the U.S. Inflation Reduction Act (IRA) this year. As domestic production is expected to increase significantly from next year, attention is
Small and medium-sized Korean cosmetics companies are making a splash in the Japanese market.According to industry sources on May 23, small and medium-sized Korean beauty brands are making great achievements in the Japanese market as they are targeting online and offline simultaneously based on thei