Dominic Signora, president of Renault Samsung Motors, said on Nov. 11 that amicable labor-management relations must be maintained in order to secure contract production of cars for exports. He emphasized labor-management harmony as the hard-line head of the company’s labor union began his second ter
A partial strike by GM Korea’s labor union during the past five days has caused an export loss of about 10,000 vehicles. As the labor union has announced that it will go on a partial strike by Nov. 13 as scheduled, production and export losses are expected to further shoot up."The number of vehicles
Hyundai Motor's plant in the Deltamas Industrial Complex near Jakarta, the capital of Indonesia, will begin operation in the second half of next year. Currently, construction work is about 60 percent done.The plant will initially produce compact sport utility vehicles and sedans. It is expected
Lee Young-soon (pseudonym), aged 104, lives on basic livelihood security benefits. She lives with a 61-year-old mentally disabled son. Her decrepit traditional Korean-style house is chilly due to shoddy roofing. But since she cannot afford to buy kerosene for heating costing more than 200,000 won pe
The author is an analyst of KB Securities. She can be reached at kahye.hong@kbfg.com. -- Ed. Solid 3Q20 results Celltrion reported 3Q20 consolidated revenue/OP of KRW548.8bn (+28.0% QoQ/+89.9% YoY)/ 245.3bn (+34.9% QoQ/+137.8% YoY). Revenue was above our estimate/the market consensus by 15%/19%, wit
The author is an analyst of NH Investment & Securities. She can be reached at jy.lee@nhqv.com. -- Ed. GS Retail-GSHS merger announcedA merger between GS Retail and GSHS has been announced. While there are no concrete plans yet for pooling the two firms’ resources into creating an integrated mobile b
The author is an analyst of NH Investment & Securities. He can be reached at william.ku@nhqv.com. -- Ed. Having signed a CMO contract with CEPI, GC Pharma should see its earnings make a quantum leap in 1H21 on the start of related supply. Reflecting a value of W2.86tn for the CMO contract, we raise
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Excluding the logistics division, CJCJ’s 3Q20 OP rallied 72% y-y, meeting consensus. Despite this year’s high earnings base, we expect the firm’s growth momentum to sustain next year on the back of im
The global investment banking arm of Shinhan Financial Group announced on Nov. 10 that it has successfully arranged a US$120 million acquisition financing for a deal involving Closure Systems International of the United States.The project was for a corporation established by American private equity
Hyundai Motor Group announced on Nov. 10 that all of its vehicles to be released after 2022 will be loaded with a connected car operating system (ccOS) running on NVIDIA Drive.Nvidia Drive is a self-driving platform. Hyundai Motor Group has decided to use the Nvidia chip but will develop a ccOS on i
The author is an analyst of NH Investment & Securities. He can be reached at will.byun@nhqv.com. -- Ed. From 2021, sales and earnings should start surging at POSCO Chem’s rechargeable battery materials domain. To meet growing EV-related demand, it is investing aggressively in NCMA and artificial gra
The author is an analyst of NH Investment & Securities. He can be reached at ys.hwang@nhqv.com. -- Ed. Via the planned split-off of the battery business, LG Chem should secure sizable capital to boost its investment and growth potential. Aggressive investment should help the company maintain a leadi
The author is an analyst of NH Investment & Securities. He can be reached at j.ko@nhqv.com. -- Ed. Samsung SDI is expected to expand backed by the EV/ESS market growth. The firm has preemptively carried out production capacity ramp-up in the regions where EV demand is rising, and it boasts a high sh
Samsung Electronics announced on Nov. 9 that its Eco Life Lab has been accredited as a microbial laboratory by TUV Rheinland, a global testing and certification agency in Germany.The lab was certified in ISO 22196, which focuses on measurement of antibacterial activity on plastics and other non-poro
Korea Shipbuilding & Offshore Engineering (KSOE), a shipbuilding arm of Hyundai Heavy Industries Group, has won an order for two super-large crude carriers.KSOE announced on Nov. 9 that it recently signed a contract with a European shipping company to build two 300,000-ton very large crude carriers
Competition between Hyundai Motor and Toyota over hydrogen fuel cell technology is spreading from cars to small ships.Hyundai Motor formed a partnership with Vinssen, a Korean startup, in June to develop a vessel powered by hydrogen fuel cells. Toyota introduced a prototype in October by collaborati
Hyundai Motor Co. and LG Chem have stopped promoting the planned establishment of an electric vehicle (EV) battery joint venture in Indonesia due to the recent series of Kona EV fires. The two companies reportedly planned to officially launch the joint venture at the end of 2020.Although the two com
The author is an analyst of NH Investment & Securities. She can be reached at jy.lee@nhqv.com. -- Ed. Affected by negative external conditions (including both a longer-than-usual rainy season and a re-proliferation of Covid-19), F&F recorded an earnings shock for 3Q20. However, the business environm
SK Telecom will establish a 5G technology joint venture in Germany in partnership with Deutsche Telekom, a German mobile carrier. It plans to jointly develop 5G technologies such as indoor repeaters to target the global market.The joint venture (JV) will be held fifty-fifty by the two companies, and
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. In 2021, Kolmar Korea is expected to see earnings growth momentum pick up on low-base effects, greater orders at Chinese subsidiaries, and higher sales to Atomy. Also, the planned IPO of HK Inno.N (fo