The authors are analysts of Shinhan Investment Corp. They can be reached at yjjung86@shinhan.com and ik.jung@shinhan.com, respectively. -- Ed. 4Q20 operating profit forecast at KRW24bn (+3.3% YoY)POSCO Chemical is expected to have recorded operating profit of KRW24bn (+3.3% YoY) on sales of KRW477bn
KB Kookmin Bank is facing a 1.6 trillion won lawsuit in Indonesia. The plaintiff is Bosowa Group, and it was the largest shareholder in Bank Bukopin, which was acquired by KB last year. The defendants in the damage suit are KB and the Financial Services Authority of Indonesia.Bank Bukopin is running
Shinhan Financial Group said on Jan. 26 that it was included among the 2021 Global 100 Most Sustainable Corporations, becoming the only Korean company to earn a spot on the list for the ninth consecutive year.The Global 100 is an annual sustainable management index announced by Corporate Knights, a
The Financial Services Commission said on Jan. 25 that the BIS capital adequacy ratio of South Korean banks would drop to 4.7 percent in 2029 without South Korea’s well-organized efforts to reduce carbon emissions.The commission recently analyzed how climate change and a decline in asset value on th
Mirae Asset Global Investments announced on Jan. 22 that the net assets of the Mirae Asset Global BBIG ETFs topped 10 trillion won. The exchange-traded funds provided by Mirae Asset Financial Group are available in South Korea, the United States and Hong Kong.The funds are to invest in the battery,
A total of 323 persons filed a suit against Industrial Bank of Korea (IBK) on Jan. 14. Those are bereaved families of the victims of the 1998 U.S. embassy bombings in Kenya and Tanzania and the purpose of the suit is to transfer Iranian assets from the bank. The size of the suit is US$5.5 billion, e
The South Korean government’s temporary short selling ban is predicted to be partially lifted in March. This is because of the pressure from the political community.The ruling Democratic Party of Korea is planning to tell the Financial Services Commission to submit a detailed plan on how to improve
Financial data provider FnGuide said on Jan. 21 that the combined market capitalization of the 59 listed subsidiaries of Samsung, SK, LG and Hyundai Motor Groups reached 1,238.13 trillion won on Jan. 20, it increased by no less than 59 percent from Jan. 1, 2020 to Jan. 20, 2021, and the top four Sou
The authors are analysts of KB Securities. They can be reached at cygun101@kbfg.com and scyoo@kbfg.com, respectively. -- Ed. Upgrade to BUY; raise target price to KRW12,000 We upgrade our rating on Mirae Asset Daewoo to BUY and raise our TP by 9.1% to KRW12,000. Our rating upgrade is based on: (1) R
Financial Services Commission Chairman Eun Sung-soo remarked on Jan. 18 that the expiration of the temporary short selling ban scheduled for March 15 is yet to be finally determined.“The decision is to be made at the commission’s nine-member committee meeting and no one in the commission can conclus
The Overseas M&A Investment Support Council consisting of Korea Development Bank, the Export-Import Bank of Korea, and NH Nonghyup Bank, has decided to give US$3 billion in loans to SK Hynix for the chipmaker’s global investment by 2025.The Financial Services Commission (FSC) announced on Jan. 19 th
Short selling is causing controversy again with the South Korean government’s temporary short selling ban scheduled to expire on March 16. The financial authorities are advocating the expiration whereas individual investors and some politicians are calling for a permanent ban.According to the author
JW Bioscience, a subsidiary of JW Life Science, announced on Jan. 18 that it has signed a strategic investment contract with One BioMed, a Singapore-based molecular diagnostic company.Through this contract, JW Bioscience has acquired a 3.4 percent stake in Won BioMed and secured domestic sales right
Hanyang University professor Jun Sang-gyung recently analyzed daily data for the period of June 30, 2016 to June 28, 2019 and said on Jan. 17 that the margin trading and short selling volumes in the South Korean stock market totaled 547.92 trillion won and 309.81 trillion won in that period, respect
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. In addition to its in-house defense business, Hanwha Corp is strengthening its growth potential by expanding its business portfolios, including its renewable energy (solar power and hydrogen) a
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Trading at a 2021F P/E of 6x, HDC Hyundai Development Company’s shares appear undervalued compared to the industry average of 7.5x. More than 90% of the firm’s consolidated sales are represented
The author is an analyst of NH Investment & Securities. She can be reached at michelle.cho@nhqv.com. -- Ed. Average 4Q20 NP at the banks under our coverage likely fell q-q. Though loan growth weakened in 4Q20 due to household loan regulations, we believe that interest income remained stable thanks t
The Ministry of Economy and Finance is planning to announce foreign exchange risk management measures within this month for a closer monitoring of overseas investment by non-bank financial institutions such as insurance companies.Since the global financial crisis of 2008, the South Korean government
The Financial Services Commission announced on Jan. 14 that a mandatory ESG disclosure will be applied to every KOSPI-listed company from 2030 onwards. In addition, the commission and the Ministry of Environment will prepare a green finance taxonomy by June this year so that investors can clearly kn
SK Hynix will issue US$2.5 billion worth of global bonds, the largest bond sale for a Korean company. Global bonds refer to bonds that are issued simultaneously in major global financial markets such as the United States, Europe, and Asia.Analysts say that SK Hynix garnered attention from foreign in