CJ Logistics announced on May 16 that it has signed a Logistics Project Collaboration MOU with Beez Logistics, a local logistics company in Saudi Arabia, in a strategic move to penetrate the Saudi Arabian logistics market.Beez Logistics, headquartered in Riyadh, the capital of Saudi Arabia, has been
Hana Financial Group announced the opening of Hana Financial Group Youth IT Academy to foster global IT talent at the St. Regis Hotel in Indonesia on May 11.Hana Financial Group Youth IT Academy is a comprehensive IT talent development program for IT students at the National University of Indonesia
The author is an analyst for Shinhan Securities. He can be reached at chee@shinhan.com -- Ed.Reasons behind decoupling between USD/KRW rate and US Dollar IndexThe USD/KRW exchange rate has moved higher recently to approach KRW1,350 after remaining range bound in the KRW1,300 levels since March. This
The author is an analyst for NH Investment & Securities. He can be reached at jack.baek@nhqv.com -- Ed.We visited Golfzon’s flagship and franchise stores in Shanghai to check up on the firm’s overseas business. Our conclusion is that although high expectations for the Chinese business remain valid,
The Korean government has ambitiously promoted a project to put Korea into the Morgan Stanley Capital International (MSCI) Developed Markets Indexes for the purpose of resolving the so-called Korea Discount. But the project will hardly produce desired results this year.According to sources in the Ko
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.Dentium posted revised expectations-meeting 1Q23 OP of W21.5bn, proving slow (as expected) on lockdowns in China, lackluster orders for inventory in the run-up to a Chinese healthcare VBP regulation
The author is an analyst for Shinhan Securities. He can be reached at jhwon@shinhan.com -- Ed.1Q23 results miss market expectationsDentium posted consolidated operating profit of KRW21.5bn (+5.5% YoY, operating margin of 31.3%) on sales of KRW68.8bn (-7.7% YoY) in 1Q23. While operating profit came i
The author is an analyst for Shinhan Securities. He can be reached at jinmyung.lee93@shinhan.com -- Ed.1Q OP beats consensus at KRW375bn (positive swing QoQ)SK Innovation swung to black from the previous quarter in 1Q23 with anoperating profit of KRW375bn, beating the market consensus of KRW236bn. T
The author is an analyst for Shinhan Securities. He can be reached at jinmyung.lee93@shinhan.com -- Ed.1Q23 falls short at an operating loss of KRW21.7bn (RR QoQ)SKC posted an operating loss of KRW21.7bn (continued loss QoQ) for 1Q23, faring worse than market expectations for a KRW2.9bn loss. Sales
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.F&F achieved a consolidated basis OPM of 30% in 1Q23. Despite tepid duty-free channel results, tourist area sales were brisk, helping to allay concerns over domestic demand. Given MLB China’s monthl
Hana Financial Group announced on May 2 that it will officially sponsor and operate an exhibition pavilion at the 56th Annual Meeting of the Asian Development Bank (ADB) in Songdo, Incheon, to strengthen cooperation among global financial institutions.Through the ADB meeting, Hana Financial Group pl
“Cooperation between South Korea, China, and Japan can be the engine of a rapid and sustainable recovery of the global economy,” said Chu Kyung-ho, deputy prime minister and minister of strategy and finance of South Korea. He spoke at a meeting of finance ministers and central bank governors from So
Samsung Electronics and SK hynix have been focusing on expanding the DDR5 memory market as a key to rebounding from their massive losses in the first quarter of this year. With most customers hesitant to buy DDR4 memory, a previous-generation product, analysts say that increasing the supply of DDR5
Shinhan Bank announced on May 1 that it will participate in the 56th Annual Meeting of the Asian Development Bank (ADB) in Songdo, Incheon in various ways as a sponsor bank.The ADB Annual Meeting is ADB’s largest event, where member country governors decide on the administrative, financial, and oper
The author is an analys of Shinhan Securities. He can be reached at jinmyung.lee93@shinhan.com -- Ed.1Q23 OP exceeds market expectations at KRW791bn (+314% QoQ)LG Chem posted operating profit of KRW791bn (+314% QoQ) for 1Q23, beating the market consensus of KRW648.1bn. The company reported sharp gro
The world has a plastic problem. This was the clear realization that drove Konrad Becker and his three co-founders in 2021 to establish Would You Love (WYL), a Seoul-based startup with a mission to make the world more sustainable. Motivated by reports that Korea was responsible for some of the world
The Incheon Free Economic Zone (IFEZ) Authority announced that DB Schenker completed the Global Delivery Center (KLC2) at the Airport Logistics Complex in Yeongjong International City near Incheon on April 26, in more than one year and five months since breaking ground in November 2021.The state-of-
The author is an analyst of Shinhan Securities. He can be reached at keonhyeong.ha@shinhan.com -- Ed.Korea’s GDP grows 0.3% QoQ in 1Q23, avoiding technical recessionKorea’s gross domestic product (GDP) for the first three months of 2023 grew 0.3% from the previous quarter, preventing the country fro
The author is an analyst of Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP comes in at KRW3.6tr (+86% YoY, +7% QoQ)Hyundai Motor posted operating profit of KRW3.6tr (+86% YoY, +7% QoQ) on sales of KRW37.8tr (+25% YoY, -2% QoQ) in 1Q23, beating the consensus estimate by 2
A hinge problem involving Samsung Electronics’ premium foldable Galaxy Z phone series has resurfaced. Due to the nature of a foldable phone, it should fully unfold to 180 degrees, but sometimes it does not. If this problem continues to take place, a phenomenon occurs where black lines appear in the