Since taking office in early July 2022, Ongjin County Mayor Moon Kyung-bok has been busy listening to the voices of his residents. This has been producing remarkable positive results.In 2023, Ongjin County paved the way for a new leap forward, including finalizing a plan for the construction of Baek
Woongjin Food announced that it won the ‘the ‘$20 Million Export Tower’ award at the 60th Trade Day commemorative event.The award ceremony for the Top Exporter is scheduled to take place under the auspices of the Korea Trade Association on Trade Day every December 5. The association honors companies
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.3Q23 OP decent at KRW7.8bn (positive swing YoY, +754% QoQ)SK IE Technology posted operating profit of KRW7.8bn (positive swing YoY, +754% QoQ) on sales of KRW182.2bn (+35% YoY, +20% QoQ) for 3Q23, beatin
The KOSPI index has fluctuated amid consecutive adverse developments, returning to its January levels. Compared to the annual high of 2,667.07 on Aug. 1, it has declined by 13.7 percent.On Oct. 26, the KOSPI index closed at 2,299.08, marking a 2.17 percent decline, while the KOSDAQ index concluded a
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.Mainstay auto parts business to deliver decent resultsIn 3Q23, concerns over slowing client demand intensified with high interest rates weighing on overall auto demand, pent-up demand losing steam, and w
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.After-sales parts division entering the home stretch to recoveryThe key variable determining auto sector earnings has been shifting from ASP levels (inflation) in 2022 to the normalization of supply chai
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 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
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.Good times for allAuto sales volume data have come in at strong levels as expected, pointing to record-high earnings for automakers in 2Q23. Global wholesale volume reached 1.06mn vehicles (+9% YoY, +4%
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.Concerns over weakening policy momentum in North AmericaIn the secondary battery sector, we had previously recommended battery separator makers as our top picks based on the following reasons: 1) benefit
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.Earnings momentum intact in 2Q23Kia’s global wholesales came in at 528,000 units (+11% YoY) in April-May. The growth was driven by robust overseas sales of 428,000 units (+13% YoY), vs. domestic sales of
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.Key takeaways from Daegu/Ulsan electrification factory tourThe electrification business has long since emerged as a core business of Hyundai Mobis, with sales rising from KRW1.2tr in 2017 to KRW9.7tr in
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.Operating margin to improve from 2.5% in 1Q to 7.6% in 4QNexen Tire recorded sluggish earnings in 1Q23 with sales of KRW639.6bn (+20% YoY, -9% QoQ) and operating profit of KRW16.2bn (positive swing YoY,
The author is an analyst for Shinhan Securities. She can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP meets consensus at KRW60.2bn (+98% YoY, -42% QoQ)Hanon Systems posted operating profit of KRW60.2bn (+98% YoY, -42% QoQ) on sales of KRW2.3tr (+18% YoY, -0% QoQ) for 1Q23, meeting the market con
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP falls short at KRW40.4bn (-24% YoY, -24% QoQ)L&F posted operating profit of KRW40.4bn (-24% YoY, -24% QoQ) on sales of KRW1.4tr (+146% YoY, +11% QoQ) for 1Q23, missing market expectations (KRW68.
The author is an analyst for NH Investment & Securities. He can be reached at hwdoh@nhqv.com -- Ed.Dongjin’s 1Q23 results exceeded our estimates on the only partial reflection of customer production cuts and an increased sales portion of high-margin products. However, a quarterly earnings downtrend
The author is an analyst for Shinhan Securities. She can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP reported at KRW107.3bn (+161% YoY, +13% QoQ)Ecopro BM posted operating profit of KRW107.3bn (+161% YoY, 13% QoQ) on sales of KRW2tr (+204% YoY, +3% QoQ) for 1Q23, missing the consensus estimate
The author is an analyst of Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP reported at KRW2.9tr (+79% YoY, +9% QoQ), OPM at 12%Kia posted operating profit of KRW2.9tr (+79% YoY, +9% QoQ) on sales of KRW23.7tr (+29% YoY, +2% QoQ) for 1Q23, beating the consensus estimate o
The author is an analyst of Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.1Q23 review: Operating loss comes in at KRW19bn (RR YoY, QoQ)Solus Advanced Materials posted an operating loss of KRW19bn (continued loss YoY, QoQ) on sales of KRW112.8bn (-9% YoY, +3% QoQ) for 1Q23, fari
The author is an analyst of Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP comes in at KRW3.6tr (+86% YoY, +7% QoQ)Hyundai Motor posted operating profit of KRW3.6tr (+86% YoY, +7% QoQ) on sales of KRW37.8tr (+25% YoY, -2% QoQ) in 1Q23, beating the consensus estimate by 2