The Ministry of Trade, Industry and Energy announced on March 1 that South Korea’s exports and imports were US$50.1 billion and US$55.4 billion last month, respectively. The exports fell 7.5 percent year on year whereas the imports increased 3.6 percent from a year ago.Last month, South Korea’s semi
The Ministry of Justice announced on March 1 that 1,595 visas for foreign shipbuilding workers were issued from January last year to January this year and those include 880 given to Vietnamese shipbuilding workers, followed by Thai (233), Uzbek (200), Indonesian (82) and Indian (56).The 1,595 worker
Korea Aerospace Industries (KAI) will export 18 FA-50 light fighters worth 1.2 trillion won to Malaysia. The Korean defense contractor is rapidly entering the Southeast Asian market as it has already exported the fighters to Indonesia, the Philippines and Thailand.KAI signed a US$920 million contrac
Samsung Electronics is investing aggressively in India. The Korean tech giant has decided to produce its next-generation foldable smartphones in India to make it a key smartphone production base.Samsung Electronics has produced mid- and low-priced smartphones in India. As India emerges as the center
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed.Dental implant exports climbed 6% y-y in January, showing disappointing results towards China but reconfirming a growth trajectory in early-February. We draw attention to the particularly robust growt
HMM announced on Feb. 14 that it has signed newbuilding contracts with Hyundai Samho Heavy Industries (HSHI) and HJ Shipbuilding and Construction (HJSC) for nine 9,000 TEU container ships powered by methanol dual-fuel engines.In last July, HMM unveiled a mid-to-long-term strategy to leap forward to
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed.4Q22 earnings miss expectations on non-recurring factors; China market recovery to be keyㅡ HL Mando saw OP miss the market consensus but come roughly in line when excluding non-recurring factors. The effect
Lee Seok-yong, CEO of NongHyup Bank (NH Bank), held a video conference with overseas branch managers on Feb. 8 to check the current status of business promotion by country and encourage employees.Lee asked overseas branch managers to make efforts to generate profits in global business and clarify bu
HD Hyundai announced on Feb. 8 that it will donate 10 medium-sized excavators for earthquake damage recovery work in Turkey.“We hope that this support will be of some help in speedy restoration of the damage,” an HD Hyundai official said. “HD Hyundai hopes that residents in the earthquake-stricken a
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Europe’s electricity market is stabilizing on the normalization of nuclear and wind power plants. Natural gas prices are also falling, with natural gas stocks freeing up. Coal prices have entered
POSCO will resume normal operation of all 17 rolling mills at its plant in Pohang from Feb. 20. The facilities restart after five months of suspension due to damage by a typhoon last year.POSCO had to replace 11 of the 15 motor drives at the No. 2 Hot Rolling Mill, the core facility of the Pohang pl
South Korea’s monthly trade deficit hit an all-time high of US$12.7 billion last month. Its semiconductor exports dropped 44.5 percent from a year ago to US$6 billion, the highest rate of decrease in 14 years or so.Last month, South Korea’s petrochemical, general machinery and steel exports decrease
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed.4Q22P operating loss of KRW425.0bn (turn to red YoY) misses market consensusㅡ POSCO Holdings reported 4Q22P revenue of KRW19.2tn (-9.8% YoY, -9.0% QoQ), operating loss of KRW425.3bn (turn to red YoY/QoQ) an
The South Korean government announced on Jan. 26 that newly approved Economic Development Cooperation Fund (EDCF) projects would be 3.8 trillion won this year, 3.9 trillion won next year and 4 trillion won in 2025 and EDCF budget execution would be 1.5 trillion won, 1.7 trillion won and 1.8 trillion
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.We lower our TP on CJ Logistics by 5% to W122,000 in light of both a slowdown in parcel delivery volume growth and a decline in forwarding profitability. However, pointing out that delivery players co
Mirae Asset Global Investments India celebrated its 15th anniversary on Jan. 18. At present, the company is the only independent foreign capital management firm in India and the ninth-largest in the local industry.At the end of last year, its total custody was approximately 21 trillion won, which in
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. In 2022, India produced 860mn tons of coal (+13% y-y), making it the second-largest consumer of coal after China. The produced coal is mainly used for domestic demand, with more than 75% used for
The three Korean battery companies are reconsidering their capacity expansion plans.SK On, a battery subsidiary of SK Innovation, temporarily halted a plan to build an electric vehicle (EV) battery plant in Ankara, Turkey by jointly investing 3 trillion won with Ford of the United States and Koç Hol
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Sales of Krafton’s Callisto Protocol have arrived sluggish, missing our forecast. With no new titles scheduled to release until 3Q23, the firm is entering a temporary momentum gap. However, as it
The Indian subsidiary of Mirae Asset Global Investments announced on Dec. 6 that it has acquired a large logistics center in Bhiwandi, which is located on the outskirts of Mumbai, India.Mirae Asset invested about 21 billion won to acquire the warehousing property, which is built on a site of about 2