South Korea witnessed a notable decline of 8.2 percent in its per capita Gross Domestic Product (GDP) compared to the previous year, positioning the nation as the third-largest contraction among key global economies.According to data from the Organization for Economic Cooperation and Development (OE
Japanese automaker Toyota has achieved a significant milestone in its history during the second quarter of this year, surpassing 10 trillion yen in revenue for the first time and outpacing the sales of Hyundai Motor Group. However, Toyota’s market share has declined in critical markets such as the U
As global automakers such as Hyundai, Volkswagen, and Ford are establishing new electric vehicle production bases primarily in North America, domestic auto parts and electronics firms are following suit in droves. Even secondary suppliers are concentrating their new investments and employment in the
South Korea, the United States, and Japan recently and simultaneously announced that a trilateral summit involving President Yoon Suk-yeol of Korea, President Joe Biden of the United States, and Prime Minister Fumio Kishida of Japan will be held at Camp David, the U.S. Presidential Retreat, on Aug.
HANMI Semiconductor announced on Aug. 2 that it has commenced operation of the “Bonder Factory” to enhance the production capacity of the Dual TC Bonder, an essential piece of equipment for the production process of AI semiconductor wideband memory (HBM).The Bonder Factory has been established in Pl
On Aug. 2, the Korea National Railway announced that it has secured a contract for the “Preliminary Survey for the Construction and Operation of Tajikistan’s Urban Railway” as part of the “2023/24 KSP Policy Consultation Project” managed by the Ministry of Strategy and Finance and implemented by the
The author is an analyst for NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.Specialized steel pipe manufacturer Nexteel boasts sound earnings, with its raw materials cost-ASP spread widening amid strong US demand for energy pipes. Utilizing funds to be raised through
In July, Korean-based carmakers’ sales in Korea fell for the first time in 11 months.According to the Korea Automobile Manufacturers Association (KAMA) on Aug. 1, the domestic sales including complete knock down car sales of five Korean-based carmakers including Hyundai Motor, Kia Corp., GM Korea, a
Taihan Cable & Solution has successfully developed the world's most advanced HVDC cable.Taihan (CEO Song Jong-min) announced on August 2 that it has completed the development of a 525kV VSC (Voltage Source Converter) HVDC (High Voltage Direct Current) land cable system and obtained international
HD Hyundai, which has an unrivaled presence in the world marine engine market, has further strengthened its position with the acquisition of STX Heavy Industries. This acquisition has enabled HD Hyundai to solidify its competitive advantage over Hanwha Ocean in the global marine engine market, exper
Despite Samsung’s withdrawal from the Russian market after the Russian-Ukrainian war began, preorders for the Galaxy Z5 series have begun in Russia. Although the new Samsung foldable phone is drawing attention in Russia, the Russian government is expected to impose sanctions on Samsung Electronics s
The demand for high-performance memory semiconductors essential for AI chips is experiencing explosive growth due to the escalating demand for AI chips among global tech companies involved in the cloud server business. Consequently, there are high expectations for the upcoming business prospects of
South Korean battery enterprises are ramping up their efforts to expand into the rapidly growing energy storage system (ESS) battery market, which is experiencing a growth trajectory on par with the electric vehicle sector. Notably, LG Energy Solution, which was once a front-runner in the ESS market
As Samsung and LG are intensifying their strategies to capture the global market for Organic Light-Emitting Diode (OLED) TVs, Japanese companies such as Sony and Sharp are tightening their pursuit. This mirrors previous competition between the two countries in the Liquid Crystal Display (LCD) market
Despite a global recession, the market for automotive organic light-emitting diodes (OLEDs) is demonstrating considerable growth, intensifying the rivalry between Samsung Display and LG Display.LG Display has previously dominated the market, but Samsung Display is swiftly catching up, securing a ser
On its 10th anniversary on Aug. 1, NHN unveiled its new brand slogan, “Weaving New Play,” and also presented a growth strategy to achieve its group vision of “a global top-tier tech company.”Weaving New Play encapsulates the meaning of “creating a new tomorrow through our connections.” The services
Kakao Entertainment announced on Aug. 1 that it has integrated the roles of Kakao Entertainment America and SM Entertainment USA to launch a new corporation.The new corporation will oversee the overseas advancement and development of new intellectual property (IP) for artists from both companies. It
The Korea Atomic Energy Research Institute (KAERI) has developed a technology that can mass produce radiopharmaceuticals.KAERI’s Proton Science Research Center announced on July 31 that it has developed an analytical method that can isolate copper-67, a radioactive substance used for treatment, in h
China’s decision to impose export controls on gallium and germanium beginning on Aug. 1 in response to U.S. export restrictions has Korean semiconductor, display, and battery industries on edge.According to industry sources on July 31, the Korean semiconductor, display, and secondary battery industr
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