The Genesis G90 overtook the Mercedes-Benz S-Class in sales in Korea in the first half of this year.Domestic G90 sales hit 9,962 units in the first half of 2022, a Genesis official said on Sept. 4. This figure is 3,400 units more than the 6,473 units recorded by the S-Class. During the same period l
The Russian market is being reorganized, with Chinese products taking the place of global brands, Bloomberg reported on Aug. 30. This is due to Western sanctions on Russia after the Ukraine war in February and the withdrawal of global brands from Russia. According to Chinese customs service authorit
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. China’s dental implant price guidelines state the necessity of separation between service and consumables prices. Consumables represent 10~20% of dental implant procedure prices. At VBP bidding, a ma
Democratic Party of Korea lawmaker Kim Hoi-jae remarked on Aug. 29 that South Korea in the first half showed an import dependence on a single country of at least 75 percent when it comes to 636 items with an import amount of at least US$10 million each.“The 636 import items include 351, 83 and 49 fr
An increasing number of countries are enacting laws against China’s raw material supply chain domination. The examples include the U.S. Inflation Reduction Act recently signed into law and the Raw Materials Act in the making in Europe. Under the circumstances, South Korean electric vehicle (EV) batt
POSCO Chemical has succeeded in localizing artificial graphite anode materials for secondary batteries, which had been entirely imported from China and Japan.The Ministry of Trade, Industry and Energy announced on Aug. 25 that First Vice Minister Jang Young-jin visited POSCO Chemical’s Pohang plant,
The Financial Times (FT) reported that the impressive performance of Hyundai Motor Co. and Kia Corp. in the global electric vehicle (EV) market reminds Samsung Electronics' overtaking of Apple in the smartphone market in the past.In a report published on Aug. 23, the FT said that even when Tesla
Hyundai Motor Group is considering starting the construction of an electric vehicle (EV) plant in Georgia within this year to advance its operation to 2024 from the originally planned first half of 2025.The reason for the rush is to respond to the U.S. Inflation Reduction Act (IRA) that took effect
Minister of Trade, Industry and Energy Lee Chang-yang remarked on Aug. 22 that the ministry is considering bringing the U.S. Inflation Reduction Act to the World Trade Organization (WTO).The act, which will become effective next year, is to cut subsidies for EVs using imported components. Hyundai Mo
The Korea Automotive Technology Institute said in its report on Aug. 18 that South Korean automakers should cooperate with the United States and China at the same time, via the Regional Comprehensive Economic Partnership (RCEP) in the latter case, as a response to the U.S. CHIPS and Science and Infl
Korea’s automobile exports totaled US$5.14 billion in July on the back of rising demand for Korean eco-friendly vehicles. It was the first time that the nation's monthly automobile exports topped US$5 billion.Last month, automobile exports swelled 25.3 percent from the same month last year, acco
The author is an analyst of Shinhan Investment Corp. She can be reached at hpark@shinhan.com. -- Ed. 2Q22 review: Even growth reported across the boardShinsegae International registered consolidated sales of KRW383.9bn (+12.7% YoY) and operating profit of KRW38.7bn (+46.1% YoY) for 2Q22, exceeding b
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. Shinsegae International’s 2Q22 OPM arrived strong thanks to brisk sales growth for imported brands, rapid sales expansion for its own fashion brands (VoV, G-Cut, and Tomboy), and a turn to profit a
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. Handsome’s 2Q22 OP came in slightly below expectations. While online and offline sales grew 14% y-y, OP fell short of consensus due to greater operating expenses for the new Liquides Perfume Bar bu
South Korea is expected to join the U.S.-led Chip 4 semiconductor alliance. A preparatory meeting for the alliance is scheduled for early next month and the South Korean government recently said that it would participate in the meeting with the United States, Japan and Taiwan, stressing that the all
BMW overtook Mercedes-Benz in the Korean imported car market in July, taking the top spot for the second month in a row.BMW sold 5,490 units in July to beat Mercedes-Benz, which posted 5,456 units, the Korea Automobile Importers & Distributors Association said on Aug. 3. BMW rose to the top spot in
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Favorable investment points remaining intact for KEPCO include both the likely adjustment of Korea’s electricity rate likely to an appropriate level and the firm’s competitive advantage in nuclea
The South Korean government announced on July 21 that it would increase tax incentives related to R&D and facility investment in the semiconductor industry so that companies in the sector can invest at least 340 trillion won by 2026.In addition, it is planning to open a semiconductor engineer traini
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. We believe that sound earnings momentum sustained at Shinsegae International in 2Q22, backed by both solid demand for imported brands and brisk growth for in-house fashion brands (Vov, G-cut, and T
Tesla’s market share in Korea plummeted in the first half of this year. Its share in the United States is also expected to fall to the 10 percent range.Sales of imported electric vehicles in Korea reached 12,959 units in the January-June period of this year, up 13 percent from 11,431 units in the sa