The Korean nuclear power industry has growing anticipation for exporting nuclear power plants to Europe.Korea and the United Kingdom signed nine memoranda of understanding (MOUs) on nuclear power cooperation on the occasion of Korean President Yoon Suk-yeol’s state visit to the United Kingdom on Nov
On Oct. 22 (local time) in Riyadh, Saudi Arabia, the Korea Electric Power Corporation (KEPCO) announced that it had signed a contract with Saudi energy companies to collaborate in the hydrogen ammonia and grid sectors.Through this agreement, KEPCO, along with POSCO Holdings and Lotte Chemical, has a
Chey Tae-won, chairman of SK Group, visited the Yongin Semiconductor Cluster construction site in Yongin City, Gyeonggi Province, on Sept. 15 and described it as “the most strategic and planned project in SK hynix’s history.” SK hynix had previously decided to invest 120 trillion won in 2019 to buil
Kumho Engineering and Construction (E&C) announced on April 26 that it held a groundbreaking ceremony for the Gumi Natural Gas-Fired Power Plant in Gumi High-Tech Valley, North Gyeongsang Province, on April 25. The power plant will be the nation’s first natural gas-fired power plant to replace coal
KPOP 4 Planet, a K-pop fan club in Indonesia, is accusing Hyundai of greenwashing, a form of advertising or marketing spin in which green PR and green marketing are deceptively used to persuade the public that an organization's products, aims and policies are environmentally friendly. They have
Doosan Enerbility announced on March 15 that it had signed a contract with Turkistan LLP, a subsidiary of Samruk-Kazna, Kazakhstan’s sovereign wealth fund, to build a combined cycle power plant worth 1.15 trillion won (US$877 million).Doosan Enerbility formed a consortium with local construction com
Corruption Eradication Commission (KPK) of Indonesia announced on Dec. 6 that a former broker of Hyundai Engineering & Construction will be arrested for his alleged involvement in a bribery scandal in Indonesia. Since Hyundai E&C is denying the allegations, a legal battle seems inevitable between th
Hyundai Heavy Industries Group has begun to develop a floating storage re-gasification unit (FSRU) for ammonia in cooperation with Korea National Oil Corp. (KNOC) and Lloyd’s Register.The group's two affiliates, Korea Shipbuilding & Offshore Engineering (KSOE) and Hyundai Heavy Industries Co., r
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed. 3Q22P operating loss of KRW7.5tn (remain in red YoY) in line with market consensus— KEPCO posted 3Q22 preliminary revenue of KRW19.8tn (+20.8% YoY, +27.3% QoQ), operating loss of KRW7.5tn (remain in red Yo
The author is an analyst of KB Securities. He can be reached at wchun@kbfg.com. -- Ed. 3Q22 OP of KRW511.7bn in line with previous upcycles 3Q22 OP came in at KRW511.7bn (-70% QoQ, -7% YoY), 6% below the 3m market consensus. By segment, Refining recorded KRW78.8bn (0.9% OPM), Petrochemical KRW56.1bn
Indonesian media outlets reported on Aug. 30 that KPK, the Indonesian anti-corruption watchdog, has confirmed that Herry Jung, a broker in Indonesia working for Hyundai Engineering and Construction (Hyundai E&C), had bribed a local politician in connection with the Cirebon Coal-Fired Power Plant pro
The Korean government has revised the power supply plan drawn up by the preceding Moon Jae-in administration, raising the proportion of nuclear power generation from 23.9 percent to 32.8 percent by 2030, while lowering the share of renewable energy-based power generation from 30.2 percent to 21.5 pe
The authors are analysts of NH Investment & Securities. They can be reached at ys.jung@nhqv.com. -- Ed. With domestic production growth unable to fully meet demand, coal prices are to keep rising for now.Coal production: India +11% y-y in July, China +13% y-y in June…According to Indian Ministry of
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com and ys.jung@nhqv.com, respectively. -- Ed. Ammonia is emerging as a new energy carrier for achieving carbon neutrality. Considering its: 1) high hydrogen storage density and easier liquefaction; and 2)
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com and ys.jung@nhqv.com, respectively. -- Ed. Since the outbreak of the Russia-Ukraine war, coal-fired power generation has upped in Europe. Europe’s coal power generation is likely to stay high for now i
Hanwha Energy signed a contract with TotalEnergies on May 24 in order to directly bring in 600,000 tons of LNG a year for 15 years.The contract is Hanwha Group’s first step in the LNG power generation industry. The group is planning to expand its business in the sector by making use of its expertise
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com and ys.jung@nhqv.com, respectively. -- Ed. In Europe, coal-fired power generation has expanded 21% y-y on both soaring natural gas prices (following Russia’s invasion of Ukraine) and decreased wind pow
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed. KEPCO shares up 8.55% on possibility of electricity rate hikes — The Presidential Transition Committee announced five key measures for the normalization of energy policies, highlighting the need for a cost
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. As KEPCO’s sizable operating losses were already expected, we draw attention to Korea’s 10th Basic Plan on Electricity Supply and Demand. The firm is trading at a 2022E P/B of 0.33x, which is bel
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com and ys.jung@nhqv.com, respectively. -- Ed. Wholesale electricity prices soaring; needs growing to achieve carbon neutrality and to lessen dependency upon Russian natural gasSince Russia’s invasion of U