The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. In 2023, we expect to see notable differentiations in terms of growth potential and valuations among domestic apparel/textile players. In 2022, the domestic textile/apparel sector has been resettin
The Ministry of Economy and Finance announced on Nov. 22 that South Korea’s maximum corporate tax rate, 25 percent, is the seventh-highest in the OECD along with those of Spain, the Netherlands and Belgium and the OECD average is 21.2 percent.“When local taxes are included, South Korea’s maximum is
Trade, Industry and Energy Minister Lee Chang-yang had a meeting with Airbus Defence and Space CEO Michael Schoellhorn in Seoul on Nov. 16.At the meeting, the CEO said that the company is considering building its fifth Asian R&D center in South Korea. Its R&D centers in Asia are currently located in
The Nikkei recently sent inquiries to 50 U.S. and Japanese enterprises operating in Taiwan, and 19 answered that they are working on measures regarding the possibility of China’s invasion of Taiwan. “Four already prepared their measures and 21 are considering following suit,” it said.According to th
Singapore-based Keppel Infrastructure Trust entered the Korean M&A market by acquiring waste disposal company Eco Management Korea on Oct. 21. The asset management firm with an AUM of US$5 billion spent approximately 770 billion won in this deal, about 20 times the company’s EBITDA.According to expe
The Bank of Korea announced on Nov. 1 that the average daily won trading value in the global foreign exchange trading market was US$67.74 billion in April this year, up 22.5 percent compared to April 2019.In this period, the average daily trading value of the market increased from US$6.6 trillion to
South Korean enterprises’ debts are increasing rapidly with their corporate bond market shrinking fast. Their repayment capabilities are deteriorating amid high interest rates, inflation and economic slowdown. The number of companies with an interest coverage ratio of less than 1 is likely to increa
Global luxury resort brand Capella Hotels & Resorts broke ground for Capella Yang Yang, its first luxury beach resort in Korea, at Songjeon Beach in Yangyang County, Gangwon Province, on Oct. 27.Some 500 people attended the groundbreaking ceremony, including Kim Jin-ha Kim, governor of Yangyang, Kim
Petroleum product exports by Korea’s four major oil refineries -- SK Energy, GS Caltex, S-Oil, and Hyundai Oilbank –- hit an all-time high of US$16.3 billion (about 22 trillion won) in the third quarter. They recouped 60 percent of their money spent on purchasing crude oil by exporting petroleum pro
EOFlow Co. announced on Oct. 25 that it has received certification from the Ministry of Health of Indonesia to commercialize its wearable insulin pump ‘EOPatch’ and its controller ‘ADM’. Its smartphone app ‘Narsha’ does not require an approval from the ministry.On December 2021, EOFlow announced tha
Shinhan Card announced on Oct. 19 that it has signed a memorandum of understanding with Stripe, a U.S. company that operates a global financial infrastructure platform, to promote global Payments as a Service (PaaS).The two companies held a partnership signing ceremony at Shinhan Card's main off
Shinhan Financial Group announced on Oct. 14 that MUST. CONNECT SINGAPORE took place at the Singapore Science Park on Oct. 12 and 13.The event is for startup networking promotion between South Korea and Singapore and is organized by the group, the Ministry of Trade, Industry and Energy and the Inche
SPC Group announced on Oct. 14 that it has opened the ninth Shake Shack store in Singapore at Junction 8, a popular shopping mall located in the centre of Bishan.Shake Shack Junction 8 is located on the first floor of Junction 8, the largest shopping mall in Bishan, which is a large residential area
Korea National Oil Corporation (KNOC) announced on Oct. 12 that it has finished unloading 362,000 barrels of crude oil produced in the United Arab Emirates (UAE) in Ulsan, Korea in September.The crude oil shipped this time is Murban crude produced in the UAE’s Haliba Block in which its subsidiary KA
The author is an analyst of NH Securities and Investment. He can be reached at yk.choi@nhqv.com. -- Ed. Refining margins have plummeted as of late on concerns over China’s expansions of export quotas, but we view the degree of refining margin adjustment as being excessive. The fact that lube base oi
Google will open a data center in Japan next year. It is the first time since 2013 that Google builds a new data center in Asia.Google CEO Sundar Pichai announced his visit to Japan on his blog on Oct. 6 (local time), saying that the company will open its first data center in Japan in Chiba Prefectu
The Ministry of Trade, Industry and Energy announced on Oct. 5 that reported foreign direct investment (FDI) in South Korea was US$21.52 billion for the first three quarters of this year. The amount increased 18.2 percent year on year and topped US$20 billion for the first time.The FDI increased des
Micron Technology announced on Oct. 4 that it would invest up to US$100 billion for 20 years to come in order to build in Clay, New York the largest semiconductor plant in the history of the United States.This reshoring from Asia is to benefit from the CHIPS and Science Act and better compete in the
The National Tax Service announced on Sept. 26 that this year’s reported overseas financial accounts total 64 trillion won, up 8.5 percent from a year ago. “It is the largest since 2018 and the second-largest in history,” it said, adding, “The number of account holders increased 25.4 percent to 3,92
The authors are analysts of Shinhan Investment Corp. They can be reached at wonyong.sim@shinhan.com and bh.lee@shinhan.com, respectively. -- Ed. A small giant with proven competitivenessKencoa Aerospace is a small giant in the aerospace industry whose clients include Lockheed Martin, Boeing, and Air