According to industry sources on Aug. 1, the LG Group is planning to double its current investment in U.S. Silicon Valley venture companies through its Corporate Venture Capital firm, LG Technology Ventures, to 1 trillion won. The aim is to synergize with the future businesses of each LG Group affil
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.2Q OP meets expectations at KRW16.7bn (+14% YoY, +4% QoQ)W-Scope Chungju Plant (WCP) posted operating profit of KRW16.7bn (+14% YoY, +4% QoQ) on sales of KRW76bn (+21% YoY, +1% QoQ) for 2Q23, coming in l
The author is an analyst for NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.Backed by an accelerated digital transformation, mid/long-term growth prospects at Hyundai Autoever’s strategic businesses remain valid. The firm is beefing up: 1) its smart mobility capabilitie
SK nexilis, an SKC subsidiary investing in copper foil for secondary batteries, announced on July 31 that they have signed a business agreement on July 28 to explore the establishment of a joint venture with Toyota Tsusho, a trading affiliate of the Toyota Group, to produce and supply copper foil in
Lotte Shopping has soft opened a mega commercial complex in Hanoi, Vietnam, marking its takeoff to become Asia’s No. 1 shopping center. The move marks a major exit from China and a relocation to Vietnam for Lotte Group’s overseas bases following China’s retaliation against Korean companies, includin
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.AmorePacific’s 2Q23 OP missed expectations by a wide margin due to e-commerce inventory adjustments in China and increased global marketing expenses. From 2H23, Sulwhasoo should enjoy a recovery in
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.2Q23 OP falls short at KRW52.1bn (-6% YoY, +157% QoQ)POSCO Future M posted preliminary operating profit of KRW52.1bn (-6% YoY, +157% QoQ) on sales of KRW1.2tr (+49% YoY, +5% QoQ) for 2Q23, missing market
Samsung Electronics and LG Display are expanding their alliance to include 77-inch organic light-emitting diode (OLED) TVs after the 83-inch models. The alliance with LG Display is expected to expand to LCDs due to a patent dispute between Samsung Electronics and BOE of China.According to industry s
The financial authorities are significantly easing restrictions on overseas subsidiary investment and capital support to activate overseas expansion of domestic financial companies. Consequently, domestic banks will have looser restrictions on investing in foreign non-financial companies, and insura
Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry (KCCI) and chairman of SK Group, hinted at the possibility of SK Group’s return to the Federation of Korean Industries (FKI).“We hope that the FKI will become a successful organization and we will help the FKI if we can,” Chey said
Samsung Electronics has teamed up with LG Display to start selling 83-inch (diagonal length about 211 cm) OLED TVs in the United States. The company had been unable to penetrate the large-scale OLED TV market due to the panel production limits of its affiliate Samsung Display, but now it is capable
Five former researchers from SEMES, who leaked the technology for manufacturing supercritical semiconductor cleaning equipment -- a core national technology -- to China, have been sentenced to prison in the first trial.On July 11, the 15th Criminal Division of the Suwon District Court sentenced form
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.We lower our TP on CJCJ to W400,000, as we reflect declining valuations for global peers. However, as an earnings bottom is being confirmed and cost burden is likely to ease in 2H23, we recommend buyin
Qoo10, a company established in Singapore by Ku Young-bae, the founder of Gmarket, is set to acquire Interpark Commerce and WEMAKEPRICE, both domestic open market and direct overseas purchasing companies. The Fair Trade Commission announced that it has approved the business merger in which Qoo10 acq
SK Group has launched all-directional support for the success of Korean Arts Week in New York City where it is participating as the main sponsor.According to the SK Supex Pursuit Council on July 9, SK Group is implementing various support measures for the success of Korean Arts Week, which will be h
LS ELECTRIC is establishing its first North American production base in the state of Texas in the U.S. This move comes as demand for distribution systems, an essential power infrastructure for factories, is rapidly increasing. This is due to Korean companies in the semiconductor, automobile, seconda
Samsung Electronics, which has been focusing on the automotive semiconductor market, has announced its entry into the next-generation power semiconductor market. Accordingly, industry insiders are paying attention to whether the era of silicon semiconductors will come to an end and the market for ne
The Korea Fair Trade Commission (KFTC) has imposed a 10 billion won (US$11 million) fine on OCI, which engaged in unfair internal transactions to maintain and strengthen the control of a related party within the group.On June 6, the KFTC announced that E-Tech E&C (now SGC E&C) and Gunjang Energy (no
Leading global corporations from South Korea including Samsung, SK, Hyundai Motor, and LG have set up local offices around Capitol Hill and are strengthening communications with the U.S. government and Congress by recruiting high-ranking former U.S. bureaucrats and other influential figures.Last yea
The four major conglomerates - Samsung, SK, Hyundai Motor, and LG - have virtually returned to the Federation of Korean Industries (FKI). The return isn’t in the form of re-enlistment, but rather through the transfer of membership from affiliated research institutions.According to industry insiders