The Ministry of Trade, Industry and Energy announced on Dec. 12 that South Korean automakers’ output and exports increased 25.4 percent and 25 percent last month, respectively. Auto exports increased for five months in a row to reach a new high. Electric and hydrogen vehicle exports set new records,
With Saudi Arabia expected to start placing orders related to the Neom City project in 2023, Chinese President Xi Jinping is embarking on a trip to Saudi Arabia on Dec. 7.China's participation will heat up the competition to win multibillion dollar orders. Currently, the Saudi Arabian government
The Korea Automobile Importers & Distributors Association announced on Dec. 5 that 28,222 imported cars were newly registered in November, up 50 percent from a year ago and up 11.3 percent from the previous month.The cars include 7,734 Mercedes-Benz, 7,209 BMW, 2,615 Volvo, 1,943 Volkswagen and 1,66
Chevrolet’s Trailblazer, a compact sports utility vehicle (SUV) produced by GM Korea, was the No. 1 passenger car exported from Korea in October.The Trailblazer, along with its sibling model Buick Encore GX, sold 17,958 units overseas in the month of October, claiming first place among passenger car
South Korean cathode material suppliers’ global market share is rising fast, but their reliance on raw materials imported from China is still very high. For example, their lithium hydroxide imports from China amounted to US$2.5 billion for the first 10 months of this year, up more than 600 percent y
The Federation of Korean Industries said in its report on Nov. 15 that South Korea’s reliance on imported anode and cathode materials, electrolytes and separators is still high and the global market share of South Korean companies supplying the materials and components is still low.“South Korea is a
The Korea Automobile Manufacturers Association announced on Oct. 31 that a total of 13,993 domestic EVs were sold in the domestic car market in September. It is a new record high exceeding the previous high of 13,143 recorded in July. In this market, the sales volume of domestic EVs topped 10,000 fo
Samsung Electronics announced on Oct. 27 that it will work with POSCO to localize xenon (Xe) gas, a core material for semiconductor production.Xenon gas is one of the rare gases essential to production of high-tech semiconductors such as 3D V-NAND flashes. Since it exists in a tiny amount in the air
EOFlow Co. announced on Oct. 25 that it has received certification from the Ministry of Health of Indonesia to commercialize its wearable insulin pump ‘EOPatch’ and its controller ‘ADM’. Its smartphone app ‘Narsha’ does not require an approval from the ministry.On December 2021, EOFlow announced tha
GM Korea aims to produce 500,000 units next year to put an end to eight years of loss and turn a profit, the company's president said during a ceremony marking its 20th anniversary on Oct. 19.Roberto Rampel said that the company's plants in Bupyeong and Changwon will be fully operational for
South Korean shipbuilders imported 1,292,220 tons of thick plates for the first three quarters of this year, up more than 90 percent year on year. Imports from Japan increased 82 percent to more than 790,000 tons and those from China jumped 120 percent to approximately 480,000 tons.“The current thic
The Korea International Trade Association said in its report on Oct. 11 that the shares of South Korea, Taiwan and Vietnam in the U.S. import market rose in 2017 to 2021 as a result of the ongoing trade disputes between the United States and China.“In the market in that period, the market share gap
BMW has retained the top spot in the imported car market in Korea for four consecutive months by becoming the top seller in September.The company surpassed Mercedes-Benz in cumulative sales for the first time this year. Whether it will become the sales leader among foreign automakers in 2022 remains
Market research firm SNE Research said on Oct. 6 that the global EV battery usage was 287.6 GWh in January to August this year, up 78.7 percent from a year ago.The use of CATL EV batteries increased 114.7 percent year on year to 102.2 GWh and the company’s market share rose from 29.6 percent to 35.5
Samsung Electronics is accelerating the localization of materials and equipment used for semiconductor lithography.The company announced on Oct. 5 that it has successfully completed an approval test for argon fluoride (ArFi) track equipment developed by its subsidiary SEMES.Passing the qualification
SK Hynix announced on Oct. 5 that it has localized neon gas, an essential raw material for semiconductor production, for the first time among Korean companies.The company plans to ramp up the use of localized neon gas to 100 percent by 2024.SK Hynix explained that it has found a way to produce neon
The Financial Supervisory Service is planning to take measures in the fourth quarter so that the owners of cars priced at over 50 million won pay more insurance premiums and the rest can pay less. This is because the repair costs of those more expensive cars, imported cars in many cases, are more th
The Bank of Korea announced on Sept. 29 that South Korea’s net barter terms of trade index was 82.49 last month, down 10.3 percent from a year ago, down 0.3 percent from the previous month, and the lowest since records began in January 1988.According to the bank, this deterioration in terms of trade
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. We believe that Shinsegae Int’s S3Q22 earnings will come in significantly above market expectations, spurred by both strong sales growth for high-margin imported brands and increased OP contributio
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. Although boosting our 2023 OP estimate, we lower our TP on Daewoong to W230,000 in reflection of a drop in peer group valuation multiple. We expect the firm to post 3Q22 sales of W303.5bn and OP of W