Samsung Electronics has established a research and development (R&D) organization in Silicon Valley in the United States with the aim of enhancing its competitiveness in next-generation semiconductors. This decision is seen as a response to the growing uncertainties caused by economic downturns and
Global air freight rates have declined for the fourth consecutive month by over 40%. This is perceived as a setback for Korean Air, which requires new market entrants for its merger with Asiana Airlines.On Aug. 16, according to freight analysis firm Xeneta, the global average monthly spot air freigh
Samsung SDI is set to construct a lithium iron phosphate (LFP) battery production line at its Ulsan factory, marking the first of its kind in South Korea.According to industry and government sources on Aug. 16, Samsung SDI is in discussions with the Ulsan city officials about building a next-generat
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
La Boutique Bleue Cell Beauty (LBB) has inked an export agreement worth 800 billion won with multinational conglomerate Shinwha Group.The Shinwha Group, with which LBB has signed this deal, has overseas subsidiaries in major countries including China, Hong Kong, Vietnam, the U.S., and France. It ope
SK Telecom announced on Aug. 16 its collaboration with the American company OpenAI to organize an AI hackathon titled “Prompter Day Seoul 2023” in Seoul next month.A hackathon is a competition where participants develop services and business models in line with a given theme within a specified perio
Seoul, Korea, August 16, 2023 – The fourth round of ‘Lamborghini Super Trofeo Asia Series’, sponsored and supplied by Hankook Tire & Technology (Hankook Tire) and hosted by Italian supercar brand Automobili Lamborghini S.p.A, opens at the Inje Speedium in Gangwon State on August 18th and 19th.This r
Kolmar BNH announced on Aug. 16 that its Eumseong plant, located in North Chungcheong Province, has received GMP certification from the Australian Therapeutic Goods Administration (TGA). Previously, Kolmar BNH’s Sejong plant was certified by TGA GMP in 2021. The TGA oversees pharmaceuticals and medi
Mirae Asset Global Investments announced on Aug. 16 that it has acquired Stockspot, an Australian robo-advisor specialist firm. The acquisition price is approximately 28 million Australian dollars (US$18 million), with Mirae Asset Global Investments acquiring approximately 53% of Stockspot’s shares.
Korea’s liquefaction technologies, which hold the key to the international transportation of hydrogen, still has a long way to go, requiring increased investment and government support, a report said.Korea’s share of global patent applications in the hydrogen storage and transportation sector over t
Large-scale LNG export projects in North America from 2022 to 2023 are expected to fuel orders for LNG carriers to transport them.According to sources in the shipbuilding industry and foreign media outlets on Aug. 15, the final investment decisions were made on three LNG projects in North America -–
The market share of Samsung Electronics’ flagship products, including semiconductors, smartphones, and TVs, fell altogether in the first half of this year. In particular, the share of its DRAM, the company’s core business item in the semiconductor field, hit a nine-year low, although it remained the
CHIVAS, a representative global blended whisky of Global wine and Spirit company Pernod Ricard Korea, introduced limited-edition sets in a special collaboration with Musician Simon Dominic, who represents the domestic hip-hop scene.Simon Dominic is a rapper belonging to the hip-hop and R&B label AOM
The author is an analyst for Shinhan Securities. She can be reached at inhae.ji@shinhan.com -- Ed.Earnings hit a new high in 2Q23JYP Entertainment set new record-high earnings with sales of KRW151.7bn (+124% YoY) and operating profit of KRW45.7bn (+88% YoY) in 2Q23. Both sales and operating profit f
Japan has reported a 1.5% economic growth rate in the second quarter, significantly outpacing South Korea’s 0.6%. Despite the global economic slowdown, Japan continues its growth streak for the third consecutive quarter. Its stock market has also reached its highest level in 33 years, indicating a r
Samsung Electronics has decided to sell a portion of its shares in the Dutch semiconductor equipment manufacturer Advanced Semiconductor Materials Lithography (ASML) after holding onto them for seven years. This move is interpreted as an effort to secure funds for investment, especially as the compa
After a decade-long downturn, HD Korea Shipbuilding & Offshore Engineering, Samsung Heavy Industries, and Hanwha Ocean are gaining momentum in realizing substantial profits. In July, domestic shipyards reclaimed the title of being the world’s top shipbuilding nation from China, a position they lost
As the importance of carbon neutrality has been growing globally, major Korean companies are focusing on the carbon capture, utilization, and storage (CCUS) business. The idea is to collect carbon dioxide (CO₂) emitted into the atmosphere from fossil fuels to reduce greenhouse gas emissions and then
On Aug. 11, Cosmax, a global cosmetics R&D and production (ODM) company based in Korea, held a ceremony to celebrate the completion of a joint venture factory with Yatsen. It is the largest single cosmetics factory in Asia. With the new plant, Cosmax will expand its presence in the Chinese market.Th
With the rapid paradigm shift towards electric and autonomous vehicles, the demand for advanced high-performance semiconductor products has surged, moving away from legacy processes.According to industry sources on Aug. 13, competition is intensifying in the automotive semiconductor market for proce