The author is an analyst for NH Investment & Securities. He can be reached at youngryu@nhqv.com -- Ed.Helped by limited supply from memory IDMs and inventory stockpiling at customers, ASPs have begun to rise in earnest for SEC. In 2024, SEC should narrow its technological gap with other companies in
The Korean government has set a year-on-year increase of 8.5 percent in exports as a target for 2024 compared to last year. It has also set a target to begin an era of US$700 billion in exports in 2024. The key will be the recovery of semiconductor exports and exports to China blamed for a drop in K
General Motors (GM) has asked LG Energy Solution to give the U.S. automaker up to 85 percent of the advanced manufacturing production credits (AMPCs) which the Korean automaker will receive through their U.S. battery joint venture, according to industry sources on Nov. 30. This is much more than GM’
Between 2013 and 2015, during China’s economic boom, the business outlook in China was rosy for South Korean corporations. Exports to China increased, leading to an upsurge in investment. However, companies overly dependent on China have encountered significant difficulties barely a decade later.Ind
The presence of automotive organic light-emitting diode (OLED) displays in the display market is growing. Experts forecast that their market size and shipments will steadily increase as a shift to software-driven vehicles (SDVs) accelerates, with premium automakers leading the way.According to marke
This year has seen a rush of huge investments by Chinese battery materials makers partnering with Korean companies. In just four months, about five trillion won worth of joint ventures have been announced, led by major companies such as SK On and LG Chem. This is the exact opposite of a previous sit
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com -- Ed.While recognizing macro uncertainties, we draw attention to positive fundamental changes at HMC stemming from improved product competitiveness. We foresee a virtuous cycle of strengthening shareho
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.KEPCO KPS’s 1Q23 OP likely beat consensus, driven by deferred sales and labor cost savings. At a time when Korea and the US are forecast to strengthen nuclear cooperation and Eastern Europe and the
The author is an analyst of NH Investment & Securities. He can be reached at jack.baek@nhqv.com -- Ed.The screen golf industry has gained popularity as an indoor leisure activity, showing a differentiating trend from the outdoor golf industry. While Golfzon should register strong sales growth in 1Q2
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com. -- Ed. For the iPhone 14 series, the sales portion of Pro models is expected to increase to about 70%, which should benefit both Apple and domestic parts makers. We believe that the 4Q22 product mix will
Korea BeRM Co., a company specializing in postbiotics, has signed a strategic cooperation agreement with the official Korean partner of Germany’s leading health food brand, Rabenhorst & Rotbäckchen.Germany’s leading health food brand Rotbäckchen, symbolized by a girl with her blue headscarf and rosy
The author is an analyst of NH Investment & Securities. He can be reached at midas.sohn@nhqv.com. -- Ed. KNJ recorded its strongest quarterly OP yet in 2Q22, with OPM reaching 33.9%. We attribute the rosy performance to favorable impacts at the display equipment division stemming from forex rate imp
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. We raise our TP on Dentium to W120,000. Dentium posted a consolidated 2Q22 OP of W35.2bn, topping consensus. We project its 2022 OP at W136.1bn (OPM of 35.1%). While the company’s OPM hovers at a sim
The author is an analyst of NH Investment & Securities. He can be reached at jack.baek@nhqv.com. -- Ed. Wielding aluminum extrusion and smart farm installation technologies, Green Plus boasts the strongest smart farm track record in Korea. With the population aging and with farmer numbers falling, t
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. Sales growth for The Nature Holdings’ travel carrier and NG Kids products should stand out in its 2Q22 results. Despite rising department store commission fees and parcel delivery costs, our earnin
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com. -- Ed. Moving forward, XR and self-driving vehicles are to replace TV, PC, and smartphones as the leading drivers of the global IT industry. Considering its close relationship with its major North Americ
The authors are analysts of Shinhan Investment Corp. They can be reached at snowKH@shinhan.com and wonyong.sim@shinhan.com, respectively. -- Ed. 1Q22 operating profit jumps 42% YoY to KRW22.2bnTSE recorded an all-time high operating profit of KRW22.2bn (+42% YoY) on sales of KRW80.9bn (+31% YoY) for
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com. -- Ed. For Shinsegae, SSSG for both the luxury goods and clothing categories is the highest among domestic department store players. In 2Q22, earnings momentum should strengthen for the firm.Displaying attra
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. At SK Gas, 1Q22 earnings improvement was driven by strong LPG trading gains. In 2025, profits should level up for the firm on smooth sailing at the Ulsan GPS and KET businesses. Contrary to conce
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com. -- Ed. Mando’s short-term earnings are facing raw material price hikes and global supply chain woes. But, considering both a production recovery at HMG and the progress of North American EV players’ gl