The Financial Supervisory Service is planning to take measures in the fourth quarter so that the owners of cars priced at over 50 million won pay more insurance premiums and the rest can pay less. This is because the repair costs of those more expensive cars, imported cars in many cases, are more th
The Bank of Korea announced on Sept. 29 that South Korea’s net barter terms of trade index was 82.49 last month, down 10.3 percent from a year ago, down 0.3 percent from the previous month, and the lowest since records began in January 1988.According to the bank, this deterioration in terms of trade
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. We believe that Shinsegae Int’s S3Q22 earnings will come in significantly above market expectations, spurred by both strong sales growth for high-margin imported brands and increased OP contributio
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. Although boosting our 2023 OP estimate, we lower our TP on Daewoong to W230,000 in reflection of a drop in peer group valuation multiple. We expect the firm to post 3Q22 sales of W303.5bn and OP of W
The Bank of Korea said in its report on Sept. 25 that U.S.-China economic disputes are expanding again and are likely to affect South Korean industries, along with rising global interest rates and the prolonged war in Ukraine.The disputes accelerated in 2018 and then came to a halt in December 2019.
The authors are analysts of NH Investment & Securities. They can be reached at ys.jung@nhqv.com. -- Ed. Prices of low-calorie coal have been stabilizing thanks to greater production in India and China, resulting in a slower-than-expected increase in Korea’s imported coal price.Coal production expand
POSCO is at odds with the government over the recovery of the typhoon-hit hot-rolled steel sheet manufacturing lines at Pohang Works. The company said in a statement on Sept. 15 that it plans to complete the restoration of the hot-rolled steel sheet manufacturing lines within three months. “We will
The Ministry of Trade, Industry and Energy announced on Sept. 12 that it would relax 11 safety regulations regarding the use of high-pressure gas in the semiconductor industry.“Of the 11, seven related to semiconductor manufacturing equipment and storage facilities will be relaxed soon through exper
The Korea Exchange announced on Sept. 12 that the average daily short selling trading value was 492.5 billion won for the first six trading days of this month.On Sept. 1, the short selling trading value was 678.4 billion won, over 600 billion won for the first time since June 17, when the value was
The Korea Automobile Importers & Distributors Association announced on Sept. 5 that a total of 23,850 imported cars were newly registered in South Korea last month, up 7.8 percent from a year ago and up 11.3 percent from the previous month. The number for the first eight months of this year is 176,2
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