Harim, Dongwon, and the LX Group have actively joined the acquisition battle for HMM. Hapag-Lloyd, the largest shipping and container transportation company in Germany, is also participating in the preliminary bidding.According to the investment banking (IB) industry on Aug. 21, Korea Development Ba
CJ Foodville announced on Aug. 21 that it has opened its 100th Tous Les Jours store in the U.S. This one is named the “Bronxville Branch,” located about 15 miles north of midtown Manhattan, New York.Notably, the Bronxville Branch holds special significance as it’s the fifth store opened by a multi-s
LG Chem is accelerating the development of its gout treatment, Tigulixostat. After the United States, the company has submitted a plan for phase 3 clinical trials in Europe.According to the electronic disclosure system of the Financial Supervisory Service on Aug. 21, LG Chem has applied for the glob
On Aug. 21, Hanwha Life’s Vietnam subsidiary announced that it had achieved cumulative profitability for the first time since its establishment in 2008. It is the first time for a domestic insurance company, fully funded and set up as a sole proprietor, to achieve this overseas.Eight years after its
Daewoong Pharmaceutical announced on Aug. 20 that due to the global expansion of its self-developed botulinum toxin treatment “Nabota” and newly developed drugs such as Fexuclue and Envlo, its overseas exports have grown by more than 200% in the past two years.Exports, which stood at 448 billion won
The author is an analyst for NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com -- Ed.Reflecting slower-than-expected downstream demand and a dampening in global peer valuations, we lower our earnings forecasts and TP for LGE. But, with the IT giant’s shares trading near the bottom
Voices are being raised for a policy shift in the Korean government’s Renewable Electricity 100 (RE100) goal. They say that it is necessary for the Korean government to switch to Carbon Free 100% (CF100), which includes utilizing nuclear energy.According to data submitted to Rep. Han Moo-kyung of th
Growing demand for batteries is fueling competition for key minerals. In the meantime, countries and companies leading electrification are divided over whether to utilize deep-sea resources. China, which asserts that the deep sea can be an efficient source of minerals, is faced with opposition from
“Team Korea,” comprising public corporations, private enterprises, and policy funds, has successfully undertaken a massive solar project in the U.S. valued at 600 billion won.The Korea Overseas Infrastructure & Urban Development Corporation (KIND) and the PIS Fund (Plant, Infrastructure, Smart City
The key focus of the economic collaboration announced at Camp David between South Korea, the U.S., and Japan is the mitigation of “China Risk.” This cooperative effort is aimed at countering China’s growing influence in high-tech industries by jointly tackling supply chain disruptions and technologi
SK on announced today it will establish a cathode manufacturing facility in Canada with global major automaker Ford Motor and cathode producer EcoPro BM as they joined a move to strengthen a value chain covering from key battery materials to electric vehicles (EVs). Cathode is a core material determ
International credit rating agency Moody’s revised SK innovation’s rating outlook to stable from negative on Aug. 16. Its rating remained at Baa3.Moody’s categorizes a company’s credit rating from Aaa to C and evaluates its ability to repay its principal and interest. The outlook is a forecast of ho
Global leading tire company Hankook Tire & Technology (Hankook Tire) has published its 2022/23 ESG Report, highlighting its sustainability activities, performance, and mid- and long-term strategies for the year.Based on Hankook Tire’s environmental, social, and governance (ESG) vision system – “Inno
China-based CATL, the world’s leading electric vehicle battery company, has unveiled a lithium iron phosphate (LFP) battery that can cover up to 400 km on a 10-minute charge. With the increasing adoption of LFP batteries in the global electric vehicle market, the news has caught the attention of Sou
On Aug. 17, Seojin System announced that it had signed a 550 billion won ESS supply contract with Fluence Energy. This represents about 7% of its revenue from the previous year, and the contract period is from Aug. 24 to June 11, 2024.Since its initial large-scale order of over 2.4 trillion won (US$
The U.S. International Trade Commission (ITC) has conceded a defeat in the five-year-long washing machine war between the United States and Korea, but Korean companies are complaining that a more complicated situation is facing them. Samsung Electronics and LG Electronics have been able to increase
The Korean Ministry of Science and ICT will enter the global market for open radio access network (ORAN) services in earnest with the public-private partnership front and center.On Aug. 16, the ministry announced the direction of its ORAN policies and will hold a proclamation ceremony for the ORAN I
Silicon, a material for anode materials, is emerging as a “game changer” that will significantly increase driving ranges on a single charge or shorten charging time.According to the secondary battery material industry on Aug. 16, leading Korean companies such as SK, LG, and POSCO have begun preempti
Samsung Electronics has secured Groq, a U.S.-based artificial intelligence (AI) semiconductor company, as the first customer for its foundry facility located in Taylor, Texas, the United States.On Aug. 15 (local time), Groq, an AI chip and accelerator specialized fabless semiconductor design company
SK on, a battery-focused subsidiary of SK innovation, is planning to invest 1.5 trillion won (US$1.12 billion) by 2025 to construct its third battery factory in Seosan, South Chungcheong Province, which is a key production hub in South Korea. This marks the company’s return to domestic investments a