The author is an analyst for NH Investment & Securities. He can be reached at soohong.cho@nhqv.com -- Ed.Sales growth to slow at HMG in 2024In 2024, an earnings growth slowdown is largely expected for HMG. The company has set a global wholesale target of 7.443mn units (+1.9% y-y) and domestic sales
More than four out of 10 listed companies in Korea were unable to pay interest with money they made, according to a recent survey. High interest rates and stagflation worsened the business environment, raising red flags on their financial conditions.As of the third quarter of 2023, 710 of 1,674 list
Hyundai Motor Group has achieved its highest-ever sales record in the United States, selling over 1.6 million vehicles last year. This milestone has propelled Hyundai Motor Group, the world’s third-largest automaker, into the top 5 in the U.S., surpassing Japan’s Honda. Last year, the group also ove
Samsung Electronics’ Internet of Things (IoT) platform SmartThings, previously implemented in its home appliances, is set to expand into Hyundai Motor Group’s connected car services, creating a seamless connection between vehicles and homes.Samsung Electronics and Hyundai Motor Group announced on Ja
The author is an analyst for Shinhan Securities. He can be reached at ldh@sinhan.com -- Ed.HD Hyundai Electric is expected to have earned sales of KRW844bn (+24% YoY) and operating profit of KRW100.9bn (+97% YoY) in 4Q23, beating consensus estimates by 6% and 14%, respectively. Operating margin like
Hyundai Motor and Kia Corp. have set a combined sales target of 7.43 million units for 2024, down 1% from 2023, taking into account overlapping schedules such as factory line maintenance to produce electrified vehicles, which will limit the production and sales of some models.Hyundai and Kia announc
In 2024, Korean shipbuilders are likely to benefit from an increase in tanker orders because of increased distances for crude oil transportation due to the prolonged war in Ukraine, rising unrest in the Red Sea region, the gateway to the Suez Canal, and a shortage of shipbuilding slots with Chinese
Overseas luxury brands are once again raising product prices early in the new year.According to the retail industry on Jan. 2, Hermes has raised the prices of its shoe products starting from Jan. 1. Among the various models of “Oran” sandals, the one crafted from lizard leather has witnessed a subst
In the domestic automotive market, a significant deceleration in the demand for electric cars is becoming apparent. Specifically, there will also be a decrease in government subsidies for electric car purchases this year. The aversion of domestic consumers towards electric cars, which are positioned
President Yoon Young-jun of Hyundai E&C expressed his intention to focus the company’s capabilities more on overseas markets than the domestic market in the new year.In his New Year’s address on Jan. 2, President Yoon stated, “Despite the dark clouds over the construction market due to the triple ch
In 2023, Korea lost the top spot to China in global shipbuilding orders for three years in a row but it maintained its pride by holding the first through fourth positions in terms of order backlog (shares) by shipyard. Although the nation lost in shipbuilding order quantity, it fared well in terms o
In 2023, Korea’s shipbuilding industry lost the world’s top spot to China for the third consecutive year. However, even as orders fell by more than 37 percent in 2023, the proportion of high-value vessels such as liquefied natural gas (LNG) carriers climbed.Global shipbuilding orders totaled 41.49 m
Korean construction companies have reportedly decided not to participate in resuming the construction of the world’s tallest building in Jeddah, a resort city near the Red Sea. It has already been seven years since construction was halted due to local conditions in Saudi Arabia. Many experts say tha
The foundry business that produces batteries developed and designed by customers is rising as a hot issue in the battery industry with automakers set to launch a large number of new electric vehicle (EV) models this year.The foundry business generally belongs to the semiconductor industry. In the 19
Hyundai Motor announced on Jan. 1 that its IONIQ 5 has been selected as “Car of the Year 2023” in Singapore. The prestigious award, hosted by Singapore's largest daily newspaper, The Straits Times, has been a significant automotive accolade in the region since its inception in 2003. Every year, newl
In 2024, Hyundai Motor Group is focusing its business on transitioning to Purpose-Built Vehicles (PBVs) and Software-Defined Vehicles (SDVs).Hyundai Motor Group’s PBV strategy takes its first step with Kia unveiling its PBV lineup at the Consumer Electronics Show (CES) 2024, after a five-year hiatus
The South Korean automotive industry has experienced a year of contrasts in 2023. In the first 11 months, the sector achieved its highest ever performance, but the fortunes of individual companies have varied significantly. Hyundai, Kia, and GM Korea continued to grow, leveraging their leading model
The Supreme Court’s ruling that it is not illegal to have employees work more than 52 hours in a week, regardless of the number of hours worked per day, is expected to allow small and medium-sized enterprises (SMEs) to make their working hours more flexible and cut labor costs.On Dec. 25, the Suprem
HD Hyundai announced that it will build HD Hyundai’s artificial intelligence (AI) platform based on Google Cloud’s technologies and solutions.Through this collaboration with Google, HD Hyundai plans to accelerate its digital transformation by introducing generative AI technology to its core business
The recently sold Hyundai Motor Russia plant, acquired by a Russian company for a mere 10,000 rubles, approximately 140,000 won (US$108), is showing signs of resuming operations early next year.Interfax reported on Dec. 26 (local time) that the Hyundai Motor plant in St. Petersburg, Russia is expect