Korea’s automobile exports totaled US$5.14 billion in July on the back of rising demand for Korean eco-friendly vehicles. It was the first time that the nation's monthly automobile exports topped US$5 billion.Last month, automobile exports swelled 25.3 percent from the same month last year, acco
The author is an analyst of Shinhan Investment Corp. She can be reached at hpark@shinhan.com. -- Ed. 2Q22 review: Even growth reported across the boardShinsegae International registered consolidated sales of KRW383.9bn (+12.7% YoY) and operating profit of KRW38.7bn (+46.1% YoY) for 2Q22, exceeding b
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. Shinsegae International’s 2Q22 OPM arrived strong thanks to brisk sales growth for imported brands, rapid sales expansion for its own fashion brands (VoV, G-Cut, and Tomboy), and a turn to profit a
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. Handsome’s 2Q22 OP came in slightly below expectations. While online and offline sales grew 14% y-y, OP fell short of consensus due to greater operating expenses for the new Liquides Perfume Bar bu
South Korea is expected to join the U.S.-led Chip 4 semiconductor alliance. A preparatory meeting for the alliance is scheduled for early next month and the South Korean government recently said that it would participate in the meeting with the United States, Japan and Taiwan, stressing that the all
BMW overtook Mercedes-Benz in the Korean imported car market in July, taking the top spot for the second month in a row.BMW sold 5,490 units in July to beat Mercedes-Benz, which posted 5,456 units, the Korea Automobile Importers & Distributors Association said on Aug. 3. BMW rose to the top spot in
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Favorable investment points remaining intact for KEPCO include both the likely adjustment of Korea’s electricity rate likely to an appropriate level and the firm’s competitive advantage in nuclea
The South Korean government announced on July 21 that it would increase tax incentives related to R&D and facility investment in the semiconductor industry so that companies in the sector can invest at least 340 trillion won by 2026.In addition, it is planning to open a semiconductor engineer traini
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. We believe that sound earnings momentum sustained at Shinsegae International in 2Q22, backed by both solid demand for imported brands and brisk growth for in-house fashion brands (Vov, G-cut, and T
Tesla’s market share in Korea plummeted in the first half of this year. Its share in the United States is also expected to fall to the 10 percent range.Sales of imported electric vehicles in Korea reached 12,959 units in the January-June period of this year, up 13 percent from 11,431 units in the sa
The Korea Institute for Industrial Economics and Trade announced on July 5 that South Korea is showing a trade deficit with the world and dependent on China by at least 50 percent when it comes to 1,088 import items and the items include lithium, magnesium, urea and manganese.Earlier, the Federation
The authors are analysts of Shinhan Investment Corp. They can be reached at yjjung86@shinhan.com and dongho2852.shin@shinhan.com, respectively. -- Ed. Domestic: Focus on product mix rather than sales volumeDomestic auto sales (excluding imported cars) came in at 121,000 units (-10.1% YoY, +1.1% MoM)
The Ministry of Trade, Industry and Energy announced on July 3 that South Korea’s trade deficit was US$10.3 billion in the first half of this year. It is even larger than US$9.16 billion recorded in the first half of 1997, when Asia faced a serious financial crisis. Besides, in the first half of thi
The Bank of Korea pointed out in a report that the South Korean economy is still heavily reliant on imported raw materials and capital goods and a small number of exporting countries, including China, still account for most of the imports.“South Korea’s dependence on China’s raw materials and certai
South Korean enterprises’ concerns are mounting over the soaring won-dollar exchange rate.According to industry sources, Korean Air’s profit decreases by 41 billion won each time the rate rises 10 won per U.S. dollar. “In April and May, the average exchange rate was 1,251.11 won, up 11.6 percent fro
GM Korea declared 2022 as the year of change. It laid out a plan to bring back its financial structure to normal by crossing the break-even point (BEP) by the end of the year. The carmaker has failed to turn a profit for eight consecutive years since 2014.GM Korea's new president Roberto Rempel,
The embassy of the United Arab Emirates (UAE) in Seoul announced on June 23 that it is participating in Imported Goods Fair 2022 (IGF 2022), which opened on the day at the COEX Convention Center for a three-day run, to promote various products from the Middle East country.UAE Ambassador to Korea Abd
The author is an analyst of NH Securities and Investment. He can be reached at yk.choi@nhqv.com. -- Ed. Solar energy market growth should continue to accelerate on both a rise in conventional energy prices and the emergence of policies to support solar energy. An uptick in demand in downstream indus
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com, ys.jung@nhqv.com, and yk.choi@nhqv.com, respectively. -- Ed. New Cold War era is obstacle to global climate responseThe recent Russia’s invasion of Ukraine has further deepened ‘New Cold War’ conflict
Goldman Sachs has revised up its forecast for Bank of Korea’s terminal policy rate to 2.75 percent from 2.5 percent previously and brought forward the peak timing to November from May 2023, on accelerated Fed tightening, higher oil prices and a recent weakening of the Korean won against the U.S. dol