Following the United States, South Korea has also issued a voluntary corrective action (recall) for all Tesla vehicles equipped with the Autopilot autonomous driving assistance feature.The Ministry of Land, Infrastructure and Transport of South Korea announced on Jan. 4 that they are recalling a tot
The author is an analyst for Shinhan Securities. He can be reached at ldh@sinhan.com -- Ed.HD Hyundai Electric is expected to have earned sales of KRW844bn (+24% YoY) and operating profit of KRW100.9bn (+97% YoY) in 4Q23, beating consensus estimates by 6% and 14%, respectively. Operating margin like
SK hynix announced today that it will showcase the technology for ultra-high performance memory products, the core of future AI infrastructure, at CES 2024, the most influential tech event in the world taking place from January 9 through 12 in Las Vegas.SK hynix said that it will highlight its futur
On Jan. 2, Son Byung-du, the chairman of the Korea Exchange, expressed his commitment to strengthening enforcement efforts, including enhanced monitoring of illegal short selling.During the opening ceremony of the “2024 Securities and Derivatives Market” held at the Yeouido office of the Korea Excha
SK telecom is undergoing a complete transformation into an “Artificial Intelligence (AI) company,” expanding its global business ventures. Following an organizational restructuring in June, the company has now finalized a reorganization focused on strengthening AI and global business operations. Thi
Korea and the Gulf Cooperation Council (GCC) have finalized negotiations on a free trade agreement (FTA). The Korea-GCC FTA is Korea’s twenty-fifth FTA and the second with the Arab world after the Korea-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA). As Korea has gain
LS Group announced on Dec. 28 that it plans to invest over 2 trillion won to venture into the secondary battery materials sector. LS Corporation, the holding company, and its subsidiary, LS MnM, is set to embark on the construction of production facilities for secondary battery materials in earnest
Indiscriminate attacks by Yemen’s Islamist Houthi rebels have forced major shipping companies to divert their routes around the Cape of Good Hope off the southern tip of Africa instead of the Suez Canal in the Red Sea, costing them up to US$1.5 million to US$2 million more in fuel costs per ship, ac
The Ministry of Land, Infrastructure, and Transport (MOLIT) announced on Dec. 26 that it will launch the KASS, which provides precise positioning signals by correcting positioning errors on Dec. 28. The service can decrease the scope of errors (15 to 33 meters) that occur when using GPS signals to 1
The world’s leading automakers are adopting technologies developed by Korean startups. In particular, major German automakers Benz and BMW are active in using them.PiQuant is a Korean company that develops spectroscopy-based component detection and measurement devices and solutions, and has develope
The Korean government has temporarily postponed the dispatch of an additional reconstruction cooperation team to Ukraine. This is due to a combination of changes in the international situation due to the prolonged Ukraine-Russia war and a reshuffle of the Yoon Suk-yeol administration of Korea.Accord
Huawei Korea held a media event on Dec. 20 to share its major business achievements of 2023 and strategic directions for 2024. Balian Wang, CEO of Huawei Korea, emphasized prioritizing cybersecurity on this day.This year, under the vision of “Building a Better Eco-Friendly Digital Life with Korea,”
Huawei Korea held a media event on Dec. 20th to share major business achievements of 2023 and strategic directions for 2024. Balian Wang, CEO of Huawei Korea, emphasized prioritizing cybersecurity on this day.This year, under the vision of 'Building a Better Eco-Friendly Digital Life with Korea,' Hu
The government will build 10,000 “smart plus” buildings specializing in robots, drones, autonomous vehicles and urban air mobility (UAM) by 2035.The Ministry of Land, Infrastructure, and Transport (MOLIT) announced a road map for the promotion of smart plus buildings as an innovation policy in the s
Hyundai E&C and Hyundai Engineering announced the award of a contract worth 3 trillion won for the Phase 2 expansion project of the Zafura Gas Field in Saudi Arabia.The contract value is 1.5345 trillion won (US$1.1728 billion) for each company, accounting for 7.23% of Hyundai E&C’s 2022 annual reven
Vietnam-based airlines are emerging as dark horses, overtaking U.S. and Chinese carriers as they increase flights between major cities in Vietnam and South Korea while launching an air ticket price war.Vietnam’s largest private carrier Vietjet Air and national carrier Vietnam Airlines ranked first a
Samsung Electronics and SK hynix are set to gain from synergy with American Applied Materials (AMAT) and Lam Research following the Dutch company ASML establishing a Research and Development (R&D) center in South Korea, based on market share in the semiconductor equipment industry.According to the s
The government will scale up the global share of Korean electric vehicle (EV) chargers to 10 percent from the current one percent by 2030. It will also provide support to foster competitive charger manufacturers.The Ministry of Trade, Industry and Energy (MOTIE) of Korea announced its policy directi
Despite the United States intensifying its export restrictions against China in the semiconductor sector, China’s self-sufficiency rate in advanced products such as domestic artificial intelligence (AI) chips is increasing faster than expected.Market research firm TrendForce reported on Dec. 12 that
Asiana Airlines will weigh passengers on its domestic flights for 10 days from Dec. 12 to 21. According to the airline, this complies with regulations of Ministry of Land, Infrastructure, and Transport and is aimed at ensuring safe operations.At the Departure Gate of Gimpo Airport’s Domestic Termina