The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.International passenger traffic fell 11% m-m in September amid the ending of peak season effects. Cargo volume rose 4% m-m on higher demand for air freight. Intensifying fare competition (especially
Incheon Free Economic Zone (IFEZ) celebrates its 20th anniversary on Oct. 15, marking two decades of steering South Korea’s economic growth.Incheon Free Economic Zone (IFEZ), composed of Songdo, Cheongna, and Yeongjong International Cities, was designated as South Korea’s first free economic zone on
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.Although high-base burden remains a factor, overall sector earnings for 3Q23 should show improvement versus 1H23. We see many positives to look forward to as end-year approaches, including the resumpti
On Oct. 11, Hyundai Rotem announced that it had received a pamphlet from the local government of Ukraine, expressing gratitude for the pivotal role their railway vehicles played in safely evacuating war refugees.The top right of the pamphlet reads, “Hyundai trains became one of the lifelines for Ukr
On Oct. 11, HD Korea Shipbuilding & Offshore Engineering announced at Seoul Square a concluded investment agreement with the pioneering fuel cell company Elcogen AS. The agreement sees the shipbuilding giant investing a total of 45 million euros (US$48 million).The event was graced by the presence o
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Following on from a narrowed operating loss in 3Q23, we expect Netmarble to turn to profit in both 4Q23 and 2024. Earnings should recover on the launch of a number of new global titles and Chinese
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Although initial results for Lies of P were disappointing, sales volume seems steady. Attention should also be paid to new titles coming out in 2024. Recently, the share price has fallen excessive
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.Excluding the impact of exchange rates, Orion is continuing to enjoy a top-line growth trend in all four of its major market countries. Alongside manufacturing cost-to-sales ratio improvement, OP expan
The author is an analyst for NH Investment & Securities. She can be reached at yd.yoon@nhqv.com -- Ed.We draw attention to NHN KCP’s ongoing top-line growth in defiance of difficult conditions. Despite slow growth in online payment volume, the firm’s ability to secure merchants stands out. The final
Pulmuone announced on Oct. 5 that it has signed a strategic partnership agreement with BlueNalu, an innovative food company that cultivates fish cells to produce seafood.To drive a sustainable future food business, Pulmuone had previously inked a business agreement concerning cell-cultured seafood w
Korea’s battery industry is rapidly advancing its technological development towards the commercialization of solid-state batteries, the next generation of cells. By replacing the liquid electrolytes traditionally used between the cathode and anode with solid materials, these batteries promise unpara
The Cultural Heritage Administration (Administrator Choi Eung-Chon) held a meeting with the ASEAN Committee in Seoul (ACS) at 3 p.m. on Wednesday, 27 September, at Gajeongdang, Changdeok Palace, and shared the achievements of the ‘ASEAN-ROK Working Committee on Cultural Heritage Cooperation (hereina
We believe that Shinsegae International’s 3Q23 earnings will miss consensus, citing the combination of slowed consumption, liquidation of inefficient businesses, and withdrawal of a luxury brand (Celine). In 4Q23, the firm is expected to focus on improving its profit/loss picture by adding new brand
The author is an analyst for NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.While China’s petrochemical demand set new records in Aug 2023, product spreads remained weak, owing to both strong oil prices and lofty supply. While capacity ramp-up should decrease in 2024, alread
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.The bio industry has failed to rebound after the slowdown in antibody drug market growth in 2022. However, large CMOs are expected to start a turnaround, led by Alzheimer's antibody treatments, ADCs,
The author is an analyst for NH Investment & Securities. He can be reached at seungyeon.han@nhqv.com -- Ed.On Sep 26, the share price of HanAll Biopharma partner Immunovant jumped by over 97% on surprise interim data from the IMVT-1402 phase I trial. Encouraging results were reported in terms of bot
An event commemorating the 50th anniversary of diplomatic relations between Korea and Finland was held at KOTE in Insa-dong on Thursday, September 21, and Finnish health tech company Naava Korea (CEO Nam-kyu Lee) also participated as a main partner in this event.On August 24, 1973, the presidents of
The author is an analyst for NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.We view the tight supply situation in the refining industry as being structural. Although refining margins should stabilize after peaking out in 2Q23, they are exceeding historical averages, suggesti
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.Mainstay auto parts business to deliver decent resultsIn 3Q23, concerns over slowing client demand intensified with high interest rates weighing on overall auto demand, pent-up demand losing steam, and w
LG Display announced on Sept. 24 that it has entered mass production of its 17-inch foldable OLED designed for laptops. This product is set to be incorporated into HP’s recently showcased foldable laptop.The panel leverages LG Display’s distinctive technology, the tandem OLED structure, previously a