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The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com. -- Ed. EU announces European Green Deal roadmapIn Dec 2019, the EU announced the European Green Deal roadmap, including policies in a range of areas (eg, industry and trade) aimed at reducing greenhouse ga
Economics
Ys.Jung
2020.06.25 13:07
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The author is an analyst of NH Investment & Securities. He can be reached at will.byun@nhqv.com. -- Ed. We hold a Neutral stance towards the steel industry. While China’s steel prices have rebounded on an unleashing of pent-up demand, annual sessions of the NPC and CPPCC in May, and expectations for
Economics
Will Byun
2020.06.19 11:38
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The author is an analyst of NH Investment & Securities. He can be reached at ys.hwang@nhqv.com. -- Ed. With the price of oil remaining below the US$40/bbl-level in 1H20, the industry landscape for the refinery and petrochemical sectors has been transformed. We mainly attribute the steep oil price de
Economics
Hwang Yu-sik
2020.06.19 11:07
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The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed.Despite rising stewardship code adoption and the NPS’s ongoing efforts to encourage socially responsible investment, shareholder participation and ESG integration activities have remained somewh
Economics
Kim Dong-yang
2020.06.19 09:52
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The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Hit hard by the Covid-19 crisis, the cosmetics industry is unlikely to see a full-fledged earnings recovery before the normalization of DFS channel operations. In weathering the storm, cosmetics playe
Economics
Cho Mi-jin
2020.06.18 22:17
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The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Believing that top-line growth potential is limited in the domestic market, Korean F&B players have sought to find new mid/long-term drivers overseas. As a result, the portion of overseas sales at Kor
Economics
Cho Mi-jin
2020.06.18 22:09
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The author is an analyst of NH Investment & Securities. She can be reached at michelle.cho@nhqv.com. -- Ed. Non-life insurance firms saw double-digit (y-y) NP decline for the past two years. However, their earnings are set to make a meaningful turnaround from 2Q20, backed by: 1) improving auto and l
Economics
Michelle Cho
2020.06.18 12:46
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The author is an analyst of NH Investment & Securities. She can be reached at michelle.cho@nhqv.com. -- Ed.The securities sector has been hit hard by Covid-19. In 1Q20, in line with global stock market plunges, the sector suffered sizable losses related to ELS hedging, and the majority of securities
Economics
Michelle Cho
2020.06.18 11:47
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The author is an analyst of NH Investment & Securities. She can be reached at michelle.cho@nhqv.com. -- Ed. The Korean economy has been suffering a blow amid the Covid-19 crisis. With both exports and domestic consumption remaining sluggish, the BOK is now forecasting that the Korean economy will sh
Economics
Michelle Cho
2020.06.18 10:15
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The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. Amid the spread of Covid-19, the entertainment/casino industry has suffered a blow. While casinos have partially resumed operations as of late, with travel bans remaining in place, it is difficult
Economics
Hazell Lee
2020.06.18 10:03
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The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. With the Covid-19 pandemic having accelerated global OTT services’ ascent to mainstream media, the ‘new normal’ of the media/ad markets has arrived earlier than expected. We predict that in 2H20: 1
Economics
Hazell Lee
2020.06.17 12:25
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The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. With 5G service effects to start in earnest, the telecom service industry should enter into a full-fledged OP growth cycle from 2H20. Anticipating strong share price rebounds for Korea’s three te
Economics
Ahn Jae-min
2020.06.17 12:03
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The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Since the outbreak of Covid-19, game companies have seen a rise in both gaming hours and sales. However, the content consumption cycle has also been accelerated, and demand for new games is incre
Economics
Ahn Jae-min
2020.06.17 10:10
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The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed.In the wake of the global Covid-19 pandemic, consumption patterns have changed drastically towards non-face-to-face platforms. And, with people having become more familiar with online life using I
Economics
Ahn Jae-min
2020.06.17 10:03
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The authors are analysts of KB Securities. They can be reached at hyejung.jung@kbfg.com and seongjin.kang@kbfg.com, respectively. -- Ed. I. Domestic Market for Nuclear Power Plants to Shrink1. Construction to begin downward trajectory in 2024KEPCO E&C revenue will be largely curtailedThere will be n
Economics
Jung Hye-jung & Kang Seong-jin
2020.06.11 21:47
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The author is an analyst of Shinhan Investment Corp. He can be reached at msbond@shinhan.com. -- Ed. Base rate cut in May meeting and likely to be kept low for long timeThe Monetary Policy Board of the Bank of Korea (BOK) decided at the May meeting to lower the base rate by 25bp to 0.50%. The Board
Economics
Kim Myoung-sil
2020.05.29 10:41
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