Samsung Display will supply state-of-the-art organic light emitting diode (OLED) panels to supercar brand Ferrari.Samsung Display announced that it signed a memorandum of understanding (MOU) with Ferrari at the Asan Campus on April 11 to develop display solutions to be loaded into Ferrari’s next-gen
“We will increase Korea’s electric vehicle production capacities five times by 2030 to grow Korea into one of the top three global future car powerhouses,” President Yoon Suk-yeol emphasized on April 11. Hyundai Motor Group also announced its strong will to seize the hegemony of the electric vehicle
Portuguese Prime Minister Antonio Costa met South Korea with Hanwha Group Vice Chairman Kim Dong-kwan and SK Hynix Vice Chairman Park Jung-ho.The prime minister and the vice chairman of Hanwha discussed cooperation in the energy sector. The group’s business models in this sector include renewable en
Several A330 aircraft owned by Korean Air made emergency landings on three occasions in the second half of last year for reasons such as engine problems. This time, it caused inconvenience to passengers again. The aircraft was carrying about 200 passengers, nine crew members, and two captains.Accord
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.With solid demand on main routes, FSCs outperformed LCCs in terms of traffic demand in March. We advise taking advantage of dip-buying opportunities, amid a likely improvement in demand on both mid/lo
Separators for electric vehicle batteries are drawing much attention as a key material that must be produced in North America under the U.S. Inflation Reduction Act (IRA). As the United States has no separator manufacturing plant yet, SK IE Technology (SKIET)’s advance into North America is gaining
In the first quarter of 2023, domestic automobile production exceeded 1 million units for the first time in six years in Korea. This is because a shortage of automotive semiconductors that had continued until last year was largely resolved.According to the Korea Automobile Manufacturers Association
LS Group Chairman Koo Ja-eun has embarked on his first overseas business trip since taking office. The Korean business group has chosen electric vehicles as its future growth driver and is in full swing to reorganize its power infrastructure-oriented group into high-growth businesses such as batteri
Pernod Ricard Korea, the Korean unit of the global wine and spirits company Pernod Ricard, announced on April 11 that it will expand its Bar World of Tomorrow, professional training on sustainable bartending that has mainly been conducted in Seoul to people working in the hospitality industry on Jej
The Bank of Korea announced on April 7 that South Korea’s current account deficit was US$520 million in February this year. In January, the deficit was US$4.21 billion, the largest since records began in 1980. In February, the first two-month current account deficit was recorded in 11 years.That mon
The United States is putting more pressure on companies in the EV battery industry to rely less on China. Most South Korean companies in the industry are regarding the pressure as both a challenge and an opportunity.This is because they have diversified their material supply sources for years. For i
Tesla’s aggressive price cuts are making Hyundai Motor Group grapple more in increasing its sales in the U.S. electric car market. The company is faced with the prospect of losing U.S. Inflation Reduction Act (IRA) subsidies while its competitors seem to be gaining momentum.On April 9, Tesla cut its
The New York Times reported on April 8 that the CIA may have wiretapped the South Korean government related to arms support for Ukraine.According to the report, the U.S. government examined the possibility of supplying shells to Ukraine via South Korea. The South Korean government’s stance is that i
Shinhan Bank announced on April 6 that its Cambodian subsidiary, Shinhan Cambodia Bank, was named Most Innovative Digital Bank in Cambodia at the GBO Awards 2022 organized by Global Business Outlook.Being honored as Most Innovative Digital Bank is significant for Shinhan Cambodia Bank as it has beco
The author is an analyst of Shinhan Securities. She can be reached at hpark@shinhan.com -- Ed.1Q23 results to disappoint due to weak duty-free earningsWe now expect LG H&H to post consolidated operating profit of KRW156.1bn (-11% YoY) on sales of KRW1.61tr (-2% YoY) for 1Q23, missing market consensu
The Korean e-commerce market is facing another big change. With Coupang’s dominance solidifying with its quarterly surplus, Qoo10, which owns Tmon and Interpark Commerce, took over WeMakePrice, reorganizing the Korean e-commerce market.According to sources in the Korean e-commerce industry on April
While Samsung Display filed an OLED panel patent infringement lawsuit against U.S. component makers, BOE, the largest display company in China, is attracting attention as the U.S. International Trade Commission (ITC) has decided to launch an investigation of BOE. Samsung Display took this action to
SeAH Steel announced on April 6 that it completed the installation of 24-inch stainless welded steel pipe (STS steel pipes) pipe manufacturing facilities for the first time in Korea and will begin volume production of STS steel pipes in earnest. The Korean steelmaker plans to become a strong player
AI semiconductors developed by Korean fabless startup Rebellions outperformed those from global semiconductor giants such as Nvidia and Qualcomm in performance tests.MLPerf AI semiconductor test results released by ML Commons, a non-profit organization on April 6 (local time) showed that the AI semi
Although Daewoo Shipbuilding & Marine Engineering (DSME) was sold off to Hanwha Group last year, approval from the Fair Trade Commission is being delayed due to opposition from a competitor which is not a foreign company but HD Hyundai Heavy Industries, a Korean company.After Hanwha Group reported t