Hyundai Motor has wrapped up the acquisition of a plant from General Motors (GM) in India, which has emerged as the world’s third-largest auto sales market. This will enable the Korean carmaker to build a production system with a minimum capacity of 1 million units in India.In addition, when the exp
Despite Hyundai Motor’s global factory operation rate exceeding 100% during the first half of this year, a decrease was observed in some countries, including Vietnam, compared to the same period last year.According to Hyundai’s semi-annual report on Aug. 16, excluding the Chinese joint venture, the
The Chinese government has decided to virtually fully permit overseas group travel for its citizens for the first time in over three years since the onset of the COVID-19 pandemic. Consequently, Chinese group tourism to South Korea will resume after more than six years, unlocking the travel restrict
An electric vehicle battery consortium led by LG Energy Solution will begin the construction of a cathode material plant in Indonesia.Kwon Young-soo, vice chairman of LG Energy Solution, traveled to Indonesia on Aug. 3 (local time) to discuss the LG Consortium project. The LG Consortium includes LG
Over the past five years since 2018, Samsung has reduced the number of its overseas subsidiaries by approximately 100, whereas Hanwha has increased its number by more than 400, leading the group with the most overseas entities. Particularly, Samsung has actively reduced 22 of its subsidiaries in Chi
The validation of “LK-99,” which claims to be the world’s first room-temperature, ambient-pressure superconducting material, continues in the international academic community.On Aug. 8 (local time), the Cohesive Material Theory Center (CMTC) at the University of Maryland announced through social med
Hana Financial Group announced on Aug. 2 (local time) that it has signed a business agreement with State Bank of India (SBI) for global business expansion. The State Bank of India is India’s largest state-owned commercial bank with branches in 25 regions worldwide, including the U.S. and China.The t
Korean battery makers are changing their production targets even as they are building plants. This is in response to the rapidly growing demand for batteries. Spurred on by support from North American countries, battery makers are increasingly changing production plans for plants that are barely com
India has blocked Chinese automakers from investing in India. This is expected to give Hyundai Motor Group of Korea reflective benefits as the Korean automaker is expanding its investments in India.According to foreign media outlets including the Economic Times of India, Chinese electric vehicle mak
LG Energy Solution, Samsung SDI, and SK On, the three major battery manufacturers in South Korea, have achieved remarkable performance in the second quarter of this year, marking a historic milestone in quarterly revenue driven by a surge in electric vehicle sales.According to the Financial Supervis
India, a formidable force in the Information Technology (IT) sector and the world’s most populous country, is making rapid strides to establish itself as a “Global Semiconductor Hub,” attracting the attention of both American and Taiwanese semiconductor companies. Similar to President Joe Biden’s pu
Negative views of China grew among people in high-income countries, a survey has found. In the United States, Japan, and Australia, the percentage of respondents with negative views of China exceeded 80 percent. In South Korea, it was more than 10 percentage points higher than when the survey was co
With exports of domestic semiconductors, displays, and electronic devices plummeting recently, concerns are growing that the Korean electronics industry is losing its market competitiveness.According to sources in the Korean electronics industry on July 28, there were growing concerns that Korean sm
Hyundai Rotem is accelerating its moves to receive railway vehicle orders with the export of its K2 tank. In the first half of this year, the company received the largest-ever amount (worth 3 trillion won) of orders including an order for railway trains for Australia. In Korea, it will make the firs
Samsung SDI and Stellantis, a global automaker, are investing approximately US$3.2 billion (4 trillion won) to build a second electric vehicle battery plant in the United States. This move, following the establishment of their joint venture just over a year ago, has been evaluated as a step towards
HK inno.N Corp. announced on July 24 that its new drug for gastroesophageal reflux disease, K-CAB (active ingredient: Tegoprazan), has been granted product approval by Peru's National Medicines Authority (DIGEMID) on July 21.In 2018, the company inked a contract with “Laboratorios Carnot,” a lea
According to industry sources on July 20, one of the most significant issues recently faced by Korean companies entering the Vietnamese market is power shortages. Concerns have been raised that chronic power supply problems, leading to frequent power outages, could hamper production.The power situat
The share of organic light-emitting diode (OLED) displays in laptops and tablets is expected to remain low at less than 3 percent this year, while panel manufacturers continue to invest in expanding the share of OLED displays and improving specifications amid a slump in the display industry.Accordin
Between 2013 and 2015, during China’s economic boom, the business outlook in China was rosy for South Korean corporations. Exports to China increased, leading to an upsurge in investment. However, companies overly dependent on China have encountered significant difficulties barely a decade later.Ind
Mirae Asset Global Investments announced on July 18 that the net assets of ETFs it manages worldwide have exceeded US$100 billion.As of July 18, Mirae Asset Global Investments manages 538 ETFs in 14 regions worldwide, including Korea, the United States, Canada, Australia, and Japan. The total net as