Hyundai Motor Company today presented its vision for a hydrogen-powered, software-driven transformation beyond mobility applications at CES 2024. Under the theme ‘Ease every way,’ the company held its Media Day at the Mandalay Bay Convention Center in Las Vegas to highlight its future blueprint for
In 2023, overseas construction orders totaled US$33.31 billion, exceeding US$30 billion for the fourth consecutive year. However, it is just short of the target of US$35 billion.According to the Ministry of Land, Infrastructure, and Transport (MOLIT) on Jan. 8, 321 Korean overseas construction compa
Starting from the second half of this year, South Korean companies will have the option to settle export and import payments in Korean won when engaging in trade transactions with certain countries from the Association of Southeast Asian Nations (ASEAN). This move is expected to allow businesses to
In the fourth quarter of last year, the annual performance of South Korea’s largest container shipping company HMM and bulk carrier operator Pan Ocean plummeted due to a slump in the shipping industry.According to financial information firm FnGuide on Jan. 8, the estimated performance consensus for
Despite a record influx of foreign workers, South Korea’s small and medium-sized enterprises (SMEs) are still facing a labor shortage.According to a comprehensive survey on foreign labor employment conducted by the Korea Federation of Small and Medium Business (K-Biz), 29.7% of the 1,200 SMEs employ
Hanwha Aerospace will borrow 400 billion won (US$304 million) and pay off all of its debts with the funds. Analysts say that the company will feel the burden of investing 1.3 trillion won to acquire Hanwha Ocean in 2023 more acutely.Hanwha Aerospace announced on Jan. 5 that it has finalized the issu
The author is an analyst for NH Investment & Securities. He can be reached at youngryu@nhqv.com -- Ed.SK Hynix is expected to post stable results, aided by earnings for high-performance memory products such as DDR5 and HBM, thanks to its superior technological competitiveness. Demand for high-perfor
Previously dedicated to producing pouch-type batteries, SK on has now embarked on the development of the “4680 battery,” a product Tesla has successfully made a game-changer in the electric vehicle (EV) market. This move to broaden its portfolio by adding cylindrical batteries follows its success wi
The Korean government will increase an influx of foreign workers to industrial sites and rural areas suffering from labor shortages in 2024 to more than 260,000 from 170,000 in 2023 in response to the Korea’s population crisis and labor shortage, according to the Korean Government’s Economic Policy
More than four out of 10 listed companies in Korea were unable to pay interest with money they made, according to a recent survey. High interest rates and stagflation worsened the business environment, raising red flags on their financial conditions.As of the third quarter of 2023, 710 of 1,674 list
Following the United States, South Korea has also issued a voluntary corrective action (recall) for all Tesla vehicles equipped with the Autopilot autonomous driving assistance feature.The Ministry of Land, Infrastructure and Transport of South Korea announced on Jan. 4 that they are recalling a tot
The 42nd JP Morgan Healthcare Conference is set to take place from Jan. 8 to 11 in San Francisco, California, in the U.S. This annual event, held every January, is renowned as the world’s largest healthcare investment venue where major global pharmaceutical companies, emerging biotech firms, and pro
Dong-A ST announced on Jan. 4 that it has signed a license-in agreement with SK Biopharmaceuticals to license out its new epilepsy drug Cenobamate in 30 countries including Korea, Southeast and Southwest Asia, Russia, Australia, New Zealand, and Turkiye.Under the agreement, Dong-A ST will receive dr
The author is an analyst for Shinhan Securities. He can be reached at ldh@sinhan.com -- Ed.HD Hyundai Electric is expected to have earned sales of KRW844bn (+24% YoY) and operating profit of KRW100.9bn (+97% YoY) in 4Q23, beating consensus estimates by 6% and 14%, respectively. Operating margin like
The author is an analyst for NH Investment & Securities. She can be reached at eunsang.lee@nhqv.com -- Ed.The Seoul office market should remain brisk in 2024. Despite its status as Korea’s largest office REIT player, Shinhan Alpha REIT is showing a 2024E P/NAV of only 0.6x. But, we believe that the
비지니스코리아 Michael Herh (pr@businesskorea.co.kr)HD HHI and Hanwha Ocean have mapped out plans to reduce the proportion of merchant ship orders this year and focus on the naval vessel business in 2024.On Jan. 3, HD HHI set a US$988 million order target for its specialty ship (naval vessel) business, whi
Semiconductor stocks including those of Samsung Electronics and SK hynix fell altogether.On the KOSPI and KOSDAQ stock market on Jan. 3, stocks of semiconductor giants and even companies producing materials, components, and equipment for chipmakers fell due to an anti-China export control issue invo
Key Foundry, an 8-inch pure-play foundry semiconductor company acquired by SK hynix, announced on Dec. 3 that it has changed its name to SK keyfoundry.The updated company name has been in use since Jan. 1, following a recent shareholder meeting approval. SK keyfoundry also completed domestic and int
Medytox announced on Dec. 3 that it has established a local subsidiary in the United States named Luvantas. Luvantas, wholly owned by Medytox, is based in Irvine, California, and will be responsible for the local sales and marketing in the United States and Canada of the non-animal liquid toxin form
SK hynix announced today that it will showcase the technology for ultra-high performance memory products, the core of future AI infrastructure, at CES 2024, the most influential tech event in the world taking place from January 9 through 12 in Las Vegas.SK hynix said that it will highlight its futur