POSCO Group and Japanese automaker Honda will join hands in the electric vehicle (EV) business. Their cooperation will range from procurement of anode and cathode materials for batteries to battery recycling.POSCO Group Chairman Choi Jung-woo and Honda President Toshihiro Mibe signed a comprehensive
The United States is putting more pressure on companies in the EV battery industry to rely less on China. Most South Korean companies in the industry are regarding the pressure as both a challenge and an opportunity.This is because they have diversified their material supply sources for years. For i
The author is an analyst of Shinhan Securities. He can be reached at ldh@sinhan.com -- Ed.1Q23 preview: Sales recognition of ample order backlogHD Hyundai Electric is expected to have recorded sales of KRW501.9bn (+43% YoY) and operating profit of KRW35.2bn (+110% YoY) in 1Q23, beating the market co
Samsung Electronics’ Q1 earnings announcement is scheduled for April 7. Securities firms' operating profit forecast is 720.1 billion won (US$547.3 million), down 94.9 percent year on year. This is the first time in 14 years that the Q1 profit estimate is less than 1 trillion won.SK Hynix posted
Korean battery companies breathed a sigh of relief after examining the detailed guidelines of the IRA released by the U.S. Treasury Department on March 31 (local time). This is because according to the guidelines, they will be able to continue their current processes and still receive subsidies unde
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.Following the merger with POSCO Energy, synergies are expected at POSCO International on the full-fledged start of investments in its energy business. On the non-energy side, growth potential is
Canada is actively taking steps to build a Korean battery value chain. The nation is trying to get attention from Korean battery makers by promising federal and state incentives for them. The United States and the European Union (EU) which share a customs union with Canada, announced trade policies
SK On, together with Korean and foreign partners, will build a precursor production facility in the Saemangeum Industrial Area in Korea.Precursors are key raw materials, such as nickel, cobalt, and manganese, that account for more than 65-70 percent of the production cost of cathode materials. The n
POSCO International has identified carbon capture and storage (CCS) as a future growth driver and started to seriously develop the business. To this end, in February the company launched a CCS Business Promotion Team under its Energy Business Division to speed up its CCS business.The reason behind P
POSCO Chemical has changed its name to POSCO Future M with the goal of transforming itself into a future materials company.POSCO Chemical confirmed the name change to POSCO Future M at a general shareholders’ meeting held at the Pohang headquarters on March 20. It contains the meaning of leading the
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed.In February, pre-sales performance differed widely by construction project. While competition heated up for projects sitting in preferred locations with attractive prices, other projects were sign
The entire 20 percent stake in Companhia Siderurgica do Pecem (CSP) held by POSCO Holdings will be transferred to ArcelorMittal Brazil, a Dutch steel company.In a business report released on March 9, POSCO Holdings announced the sale of its stake in CSP, saying, “We are trying to boost our asset eff
SK ecoplant and POSCO announced on March 7 that they had obtained a basic design certification on the K-Floater, an offshore wind power floating model developed in Korea, from DNV, a Norwegian classification society. The certificate presentation ceremony was held at the SK ecoplant headquarters in t
The South Korean and Japanese governments are pushing ahead with third-party payment to wrap up their forced wartime labor issue. The plan is to set up a foundation so that South Korean enterprises that benefited from a 1965 agreement can raise financial resources and pay victims via the foundation.
Samsung SDI’s Hungarian battery plant will receive 89.6 million euros in support funds from the European Union (EU). The funds will be given for the Korean battery maker’s completion of a local battery plant which revved up the local economy and locally created decent jobs. Analysts say that Samsung
POSCO Chemical will change its name to POSCO Future M.The company's board of directors approved a plan to change the company name to POSCO Future M at a meeting on Feb. 24. The new name will be confirmed at the regular general shareholders’ meeting on March 20.POSCO Future M has the meaning of l
POSCO International announced on Feb. 22 that it has obtained the right to explore and operate an offshore natural gas field in Indonesia.The company secured the right to develop the Bunga Sector through an international tender organized by the Indonesian government. It formed a consortium with PHE,
The author is an analyst of KB Securities. He can be reached at cm.lee@kbfg.com. -- Ed. Maintain BUY, TP of KRW370,000 We maintain BUY and TP of KRW370,000 for L&F. Derived using the DCF model assuming 9.29% WACC (9.67% COE, 5.63% after-tax COD, 1.12 60m adj. beta), our TP implies 39.6x 12m fwd P/E
POSCO International’s grain terminal in Ukraine is continuing its overseas food business through a partial operation without suffering damage.The volume of grain handled by the grain terminal in 2022 stood at 310,000 tons, down by more than half from 760,000 tons in 2021. The operation of the termin
POSCO International's pharmaceutical business in Sudan is generating profits while at the same time contributing to improving people's health in the African country.General Medicines Co. (GMC) in Sudan, a joint venture between POSCO International and Shinpoong Pharmaceutical, posted operatin