The Consumers Union of Korea (CUK) revealed on Feb. 1 that consumer complaints related to AliExpress, an e-commerce platform operated by China’s Alibaba, have surged significantly.According to the CUK, the Consumer Consultation recorded a fivefold increase in complaints related to AliExpress last ye
The author is an analyst for NH Investment & Securities. He can be reached at bk@nhqv.com -- Ed.The two terms that defined last year’s stock market were ‘new cold war’ and ‘supply chain reshaping’. In 2024, decoupling between DMs and EMs is to become a new market-defining feature. Today, the US’s bu
Daewoong Pharmaceutical announced on Jan. 30 that its partner, AEON Biopharma, presented the Phase 2 clinical trial results and preclinical PTSD data of Daewoong’s botulinum toxin ABP-450 at the TOXINS 2024 conference. TOXINS 2024, a significant conference on neurotoxins, took place in Berlin, Germa
The race to dominate the 2-nanometer (nm) semiconductor technology is heating up at the beginning of the year, a key battleground among global foundry (semiconductor contract manufacturing) companies.According to industry sources on Jan. 29, major foundry enterprises like Samsung Electronics, TSMC,
The Korean Ministry of Trade, Industry and Energy (MOTIE) announced that Trade Minister Cheong In-kyo held the 8th Multilateral Trade Strategy Meeting with the MOTIE and related ministries on Jan. 29.In preparation for the 13th Ministerial Conference (MC-13) of the World Trade Organization (WTO) to
Korean defense companies are set to continue their growth trajectory this year by securing additional orders from various countries around the world. Building on last year’s momentum, which saw an expansion in both the range of export destinations and weapon systems, these companies are aiming for q
As international oil prices and refining margins both experienced a simultaneous decline in the fourth quarter of last year, the oil industry’s performance was once again placed in a state of emergency.In the worst-case scenario, four major oil companies -- SK Energy, GS Caltex, S-Oil, and HD Hyunda
The Export-Import Bank of Korea (Korea Eximbank) announced on Jan. 25 that it will establish and operate a “Saudi Desk” to support projects in the Middle East, including Saudi Arabia. The Saudi Desk of Korea Eximbank is expected to play a specialized role in handling business related to projects in
Since the beginning of this year, a shipbuilding battle has been heating up between seventh-ranked Hanwha Group and ninth-ranked HD Hyundai Group. After Hanwha acquired Daewoo Shipbuilding & Marine Engineering (now Hanwha Ocean) last year, the two groups emerged as new rivals in the shipbuilding ind
Celltrion announced on Jan. 24 that it has signed a memorandum of understanding with WuXi XDC, a China-based company specialized in Antibody-Drug Conjugates (ADC), for the development of new ADC therapeutics, and has commenced product development for Contract Development and Manufacturing Organizati
Samsung Biologics has made history by becoming the first in the domestic pharmaceutical and biotech industry to surpass 1 trillion won in annual operating profit. Following the achievement of 3 trillion won in annual sales in 2022 and surpassing 1 trillion won in quarterly sales in the third quarter
Hyundai Wia announced on Jan. 24 that it signed contracts to supply a total of 1.450 trillion won (US$1.086 billion) worth of constant velocity joints with European and North American automakers in 2023.Constant velocity joints are core parts of automobiles that transmit power generated by motors or
HMM held a naming ceremony for the HMM Garnet, a 13,000 TEU container ship, on Jan. 24.The HMM Garnet, built to enhance HMM’s eco-friendly competitiveness and diversify its fleet, is the first delivered vessel of the 12 13,000 TEU container ships in contracts signed with HD Hyundai Heavy Industries
HD Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company of HD Hyundai Shipbuilding, recently announced that it has signed a contract on the construction of three very large ammonia carriers (VLACs) with a shipping company in Latin America.The total order value is 491.1 b
3D Factory, a South Korean global platform dedicated to the development of the metaverse, announced on Jan. 22 that it has been selected as the advertising planner and executor for the entire Taif region of Saudi Arabia. This public project was commissioned by the Ministry of Municipal and Affairs a
Domestic construction companies have shown a consecutive two-year increase in the amount of construction projects secured overseas, riding an upward trend.According to the International Contractors Association of Korea (ICAK) on Jan. 22, the total value of construction projects secured by domestic c
Samsung Biologics announced on Jan. 22 that it has been awarded the Platinum medal, the highest rating given only to the top 1% of companies, in Environmental, Social, and Governance (ESG) evaluation by EcoVadis, a global sustainability assessment firm.Established in France in 2007, EcoVadis evaluat
Lotte Biologics recently announced the signing of a strategic business agreement with NJ Bio, a U.S.-based Contract Research Organization (CRO) specializing in non-clinical and clinical contract research, to provide one-stop Antibody-Drug Conjugate (ADC) services. Established in 2018, NJ Bio, based
Samsung Biologics is expected to continue to post the highest growth rate in the global contract development manufacturing organization (CDMO) industry this year after posting record-high business results in 2023.A consensus forecast for Samsung Biologics’ revenue growth was 22 percent last year, ac
In 2023, the volume of kimchi exports turned to growth, reaching a new record high. The global K-content craze had an impact on the increase in kimchi exports, experts say.According to the Korea Customs Service on Jan. 21, South Korea exported 44,041 tons of kimchi in 2023, up 7.1% from 41,118 tons