SK Group has embarked on a significant business restructuring, focusing on the future expansion of new businesses in fields like semiconductors, artificial intelligence, and carbon neutrality.According to industry sources on April 17, SK networks plans to use the proceeds from the sale of SK Rent-a-
SK Innovation announced at its shareholder meeting held on March 28 that it will reassess numerous businesses it has aggressively pursued so far. The company expressed its intention to focus on select ventures and concentrate its efforts.According to industry sources on March 28, SK has been conduct
Lotte Chemical said on Jan. 15 that its plan to sell its Pakistani subsidiary engaged in non-core businesses, such as the production of high-purity terephthalic acid (PTA), has been canceled due to unstable situations in Pakistan.Lotte Chemical announced that a share purchase agreement it signed wit
The author is an analyst for Shinhan Securities. He can be reached at sanghoonpure.cho@shinhan.com -- Ed.3Q23 OP to meet consensus at KRW396.2bn (-18.2% YoY)We now expect CJ CheilJedang to announce operating profit of KRW396.2bn (-18.2% YoY) on sales of KRW7.53tr (-6% YoY) for 3Q23, coming in line w
The author is an analyst for NH Investment & Securities. She can be reached at hzl.lee@nhqv.com -- Ed.CJ ENM reported an earnings shock, affected by widening losses at new businesses (OTT, US production) and impacts of economic slowdown at the main business, excluding entertainment. A sharp recovery
The entire 20 percent stake in Companhia Siderurgica do Pecem (CSP) held by POSCO Holdings will be transferred to ArcelorMittal Brazil, a Dutch steel company.In a business report released on March 9, POSCO Holdings announced the sale of its stake in CSP, saying, “We are trying to boost our asset eff
Korea Electric Power Corp. (KEPCO) suffered an operating loss of a whopping 33.6 trillion won in 2022.KEPCO announced on Feb. 24 that its cumulative operating loss stood at 32,603.4 billion won on a consolidated basis in 2022. This was 5.6 times higher than the state-run company’s previous highest o
The author is an analyst of KB Securities. He can be reached at yonghyun.choi@kbfg.com. -- Ed.Maintain BUY; TP raised to KRW130,000 We maintain BUY on CJ ENM and raise our target price by 8.3% to KRW130,000 (15.8% potential upside). Derived using the P/B-ROE model (7.58% 5y avg. ROE), our TP has bee
Lotte Chemical will sell off non-core overseas businesses in order to strengthen its high value-added specialty materials business.The company announced in a public disclosure on Jan. 16 that it will sell off its entire 75.01 percent stake in Lotte Chemical Pakistan Limited (LCPL), a purified tereph
The GM Korea (GM) labor union will meet with lawmakers to discuss Korea Development Bank (KDB)’s reported plan to sell off its stake in GM Korea.The union's leaders will hold a meeting with members of the National Assembly's Trade, Industry, Energy, SMES and Startups Committee around the mid
The private equity fund (PEF) industry is rapidly growing in South Korea. PEFs have acted as problem solvers in the succession processes of large corporations that entail the necessity of avoiding anti-monopoly regulations and making a change in governance structure. In addition, the South Korean go
The authors are analysts of NH Investment & Securities. They can be reached at hwdoh@nhqv.com and jiyong.im@nhqv.com, respectively. -- Ed. During their 1Q22 earnings calls, big tech firms in the US announced that they would scale up 2022 investment in AI and cloud services. As a result, demand for s
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com. -- Ed. GS Retail is transitioning to digital commerce, but accompanying initial costs are proving higher than expected, and the firm lacks short-term earnings growth drivers.Lower TP from W42,000 to W38,000W
The author is an analyst of Shinhan Investment Corp. He can be reached at sh.kim@shinhan.com. -- Ed. Lee Jae-yong’s release on parole to ease concerns over control and lead to benefits for minority shareholdersSamsung’s vice chairman Lee Jae-yong will be released on parole, the Ministry of Justice a
The author is an analyst of NH Investment & Securities. She can be reached at jy.lee@nhqv.com. -- Ed. − On Jun 24, Emart announced its decision to acquire an 80.01% stake in eBay Korea for W3.4tn.− We expect the majority of funds for the acquisition to be amassed through asset securitization and the
The author is an analyst of Shinhan Investment Corp. He can be reached at sh.kim@shinhan.com. -- Ed. Excessively undervalued after spin-off and re-listingNovember 2020, LG Corp spun off affiliates and established a separate holding company. LG Corp, the existing entity, has control over LG Chem, LG
The authors are analysts of Shinhan Investment Corp. They can be reached at yjjung86@shinhan.com and ik.jung@shinhan.com, respectively. -- Ed. 4Q20 OP of KRW80.4bn (+25.1% YoY) misses consensus by 14%Mando reported operating profit of KRW80.4bn (+25.1% YoY) on sales of KRW1.7tr (+6.3% YoY) for 4Q20,
The author is an analyst of NH Investment & Securities. She can be reached at michelle.cho@nhqv.com. -- Ed. KG Inicis, one of Korea’s leading PG players, has adopted a selection and concentration strategy, seeking new sales growth opportunities. Although earnings momentum appears sound, we maintain
The author is an analyst of Shinhan Investment Corp. He can be reached at sh.kim@shinhan.com. -- Ed. Governance structure stabilized with removal of long-term noiseThere has long been noise around the transfer of control of Samsung Group from the late Chairman Lee Kun-hee to his son Lee Jae-yong, wh
Harman International, a Samsung Electronics subsidiary in the United States, will sell Studer, a digital mixing company.Harman signed a contract with Everts, a world-renowned broadcasting equipment and solutions manufacturer, to sell Studer on Jan. 13 (local time).Studer is the world's largest d