While major countries such as the United States, Japan, and the European Union (EU) are rushing to provide subsidies for semiconductors, there are growing voices that Korea will lose the global semiconductor war if it does not subsidize Korean companies such as Samsung Electronics and SK hynix, citi
The combined operating profit of the top 10 companies by market capitalization in the South Korean stock market falls short of those of leading Japanese company Toyota and top Taiwanese company TSMC.To address the “Korea discount,” which refers to the undervaluation of South Korean stocks, it is poi
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
Jusung Engineering, a semiconductor, display, and solar equipment company, has carved a mythical path in the barren land of domestic ventures. This year marks its 30th anniversary. Established in 1993, the company has experienced various challenges but has achieved remarkable growth through continuo
Tensions and conflicts are intensifying in the “semiconductor war” between the U.S. and China. As the first anniversary approaches of the U.S. government’s decision to restrict exports of semiconductor chips and equipment to China on Oct. 7 of last year, an update on policies regarding “Artificial I
The author is an analyst for Shinhan Securities. He can be reached at hyon@shinhan.com -- Ed.3Q23 operating profit to miss consensus at KRW13.2bn (-28% QoQ)Doosan Tesna is expected to post operating profit of KRW13.2bn (-27.5% QoQ) on sales of KRW90.3bn (+1.5% QoQ) for 3Q23, falling short of the mar
The Korean Institute for Industrial Economics & Trade (KIET) revealed in its report titled “Global Non-Memory Semiconductor Market Landscape and Policy Implications” on Sept. 3 that last year Korea’s market share in the global non-memory semiconductor sector was a mere 3.3%, which is only one-third
South Korea, once the largest exporter to China, fell to fifth place among exporters to China in the first half of this year. This is because exports of intermediate goods to China, which account for more than 80 percent of South Korea’s exports to China, have been on a sharp decline. On the other h
Samsung Electronics has slipped to fourth place in global semiconductor market capitalization rankings, surpassed by U.S.-based fabless semiconductor firm Broadcom. Non-memory companies such as Nvidia and Broadcom are expanding their territories through massive investments and mergers and acquisitio
SKC announced on July 7 that it has decided to acquire a 45% stake in ISC for a total of 522.5 billion won (US$400 million). This decision came following a board of directors meeting. The company will acquire a 35.8% stake held by the majority shareholder for 347.5 billion won and invest an addition
The author is an analyst for Shinhan Securities. He can be reached at snowKH@shinhan.com -- Ed.Earnings stability improving on subsidiary growth, client diversificationWe believe two major points indicate that the timing is right to accumulate shares in Wonik QnC. The first is solid earnings stabili
The author is an analyst for Shinhan Securities. He can be reached at ym.ko@shinhan.com -- Ed.DDR5 effect: Early recovery with ASP hikes to precede spot price upturnWe now expect to see an earlier turnaround in market conditions and share prices than previously expected for the current industry cycl
Following China, the United States has also cut back on Korean semiconductor imports.Korean semiconductor exports to the United States fell 68.6 percent year on year in April, according to a report on the characteristics and implications of Korea’s semiconductor demand structure released by the Bank
The author is an analyst for Shinhan Securities. He can be reached at snowKH@shinhan.com -- Ed.Earnings to improve gradually from a sluggish 1Q23TSE registered an operating loss of KRW6.6bn in 1Q23. The company saw a dip in overall top line with sales from probe cards falling to KRW4.5bn (-74% YoY),
Over the past five years, changes have been made in the market capitalization standings among semiconductor giants. Samsung Electronics and Intel, the top two semiconductor companies, recently slipped down through the rankings. Meanwhile, nonmemory companies such as Nvidia, TSMC, and Advanced Micro
The author is an analyst for Shinhan Securities. She can be reached at hyon@shinhan.com -- Ed.1Q23 operating profit comes in at KRW16.8bn (+105.7% QoQ)Hana Micron posted operating profit of KRW16.8bn (+105.7% QoQ) on sales of KRW237.9bn (+9.8% QoQ) for 1Q23. A drop in earnings at the parent company
The author is an analyst for Shinhan Securities. He can be reached at hyon@shinhan.com -- Ed.1Q23 OP misses market consensus at KRW11.9bn (-52.3% QoQ)Doosan Tesna reported operating profit of KRW11.9bn (-52.3% QoQ) on sales of KRW74.6bn (-20.2% QoQ) for 1Q23, falling short of the market consensus of
Individual investors poured tens of billions of won into exchange traded funds (ETFs) on Korean semiconductor companies that are expected to hit lows and rebound in the second quarter while selling off U.S. semiconductor ETFs to realize profits.According to fund evaluator FnGuide on May 7, individua
The author is an analyst at Shinhan Securities. He can be reached at ym.ko@shinhan.com -- Ed.1Q23 review: Semiconductors swing to loss, solid earnings from MXSamsung Electronics posted preliminary operating profit of KRW0.6tr (-86% QoQ) on sales of KRW6.3tr (-11% QoQ) in 1Q23, missing the consensus
The U.S. government has demanded that companies applying for investment subsidies under the Chips Act submit Excel files containing formulas for calculating profitability including expected cash flows. This has thrown Korean chipmakers into consternation.They are calling these detailed guidelines fo