News about BYD’s entry into South Korea has drawn attention to changes in the share of the South Korean electric vehicle market dominated by Hyundai Motor. BYD is a Chinese electric vehicle maker. Experts predict that BYD’s price competitiveness will play a big role in determining its success in the
Germany’s abrupt suspension of subsidies for electric vehicles (EVs) sold in the country is puzzling South Korea’s auto industry, which exports electric vehicles to the region. This along with France’s plan to reorganize its EV subsidies to measure carbon emissions and provide differential subsidies
Chairman Lee Hae-wook of DL Holdings (formerly Daelim Industrial) has been finally fined on charges of unfairly supporting his private company by mobilizing affiliate companies.The Supreme Court’s Second Division (presided over by Justice Lee Dong-won) confirmed on Aug. 31 a lower court’s ruling tha
Hyundai Motor Group is faced with complicated situations in its business operations in France after France’s announcement of a draft decree to subsidize electric vehicles based on carbon emissions. While the draft decree is not as worrisome as the U.S. Inflation Reduction Act (IRA), it will be a tot
It has been disclosed that among the stock assets held by conglomerate leaders and their families, there are 22 instances where the stock assets of the next generation surpass 50 percent. This increase in the inheritance and gifting of stocks as part of the generational transition within these congl
As China and the United States initiate efforts to reform electric vehicle subsidies, a similar action by France has prompted the South Korean government to work on devising response strategies.According to the Ministry of Trade, Industry and Energy (MOTIE) and KOTRA on Aug. 9, the French Ministry o
As Kia’s July sales report was released, it was revealed that the sales of its flagship electric SUV, the EV9, which was launched last June, has decreased just two months after its launch. Critics point to the faded “new car effect” as the EV9’s sales have stumbled amid recent controversies over “po
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
DL E&C (formerly known as Daelim Industrial) is ranked third in the Korean construction company capability rankings, but it has been stigmatized as the construction company with the highest number of fatalities.The builder had four fatal accidents for four consecutive quarters -- in October 2021 and
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed. Maintain BUY, TP of KRW188,000 We maintain BUY and TP of KRW188,000 for DL E&C (0.84x 12m fwd P/B). 2022 forecast: Revenue of KRW8.2tn (+7.4% YoY), OP of KRW986.8bn (+4.7% YoY) For 2022, we forecast reven
Samsung SDI has joined hands with Stellantis, the world's fourth-largest carmaker. The Korean battery maker recently signed a memorandum of understanding (MOU) with Stellantis to establish a joint venture company for electric vehicle batteries. The MOU is expected to accelerate the Korean batter
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed. Initiate coverage with BUY rating, target price of KRW188,000 We initiate coverage on DL E&C with a BUY rating and TP of KRW188,000. Derived using the P/B-ROE model, our TP represents 0.85x (9.1% COE; 8.0
The prosecution demanded a one-and-a-half-year prison term for Daelim Group chairman Lee Hae-wook for making undue profit using the trademark of the group’s hotel brand GLAD.Prosecutors also demanded a fine of 100 million won each for DL Corp., which owned the trademark, and GLAD Hotels & Resorts, w
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Given its wealth of positive momentum, including lower-than-average valuations, expectations for 2H21 earnings improvement, and long-term expansion of both its in-house (housing division) busines
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. We believe that DL E&C’s housing brands ACRO and e-Pyeonhansesang offer market competitiveness that is on par with top-tier brands THE H, Raemian, and Xi. While its earnings remained slow in 1H21
With the launch of its first all-electric vehicle IONIQ 5 slated for this month, Hyundai Motor Co. is facing disruptions in the supply of driving motors for the model. Furthermore, the government’s electric vehicle (EV) subsidies are being exhausted rapidly.According to the Ministry of Environment
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. The values of the subsidiaries in which SKT has invested over the past few years are on the verge of appreciating. A potential spin-off alone could single-handedly boost SKT’s share price. Upon s
DL E&C (formerly known as Daelim Industrial) announced on March 3 that it will actively pursue new business opportunities in eco-friendly fields such as hydrogen energy and carbon capture and sequestration/storage (CCS).Currently, hydrogen is produced mostly through catalytic reforming of natural ga
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Noting differing apartment pre-sale targets among individual construction players, we can predict their earnings flows over the next three years. We draw attention to Daewoo E&C (2020 sales volum
Unionized GM Korea workers decided on Oct. 29 to stage a partial strike. They paused their work for four hours on Oct. 30 and the same is scheduled for Nov. 2. In addition, they are going to halt their extra work until their wage negotiations and collective bargaining are finalized. Earlier, the man