The author is an analyst of KB Securities. He can be reached at wchun@kbfg.com. -- Ed. Initiate coverage with BUY and TP of KRW110,000 We initiate coverage of S-Oil with a BUY rating and target price of KRW110,000 (29.0% potential upside). We have used the P/B-ROE model in deriving TPs for Korea Ref
The author is an analyst of KB Securities. He can be reached at wchun@kbfg.com. -- Ed. Initiate coverage with BUY and TP of KRW200,000 We initiate coverage of Lotte Chemical with a BUY rating and target price of KRW200,000 (24.6% potential upside). We have used the P/B-ROE model in deriving TPs for
The author is an analyst of KB Securities. He can be reached at wchun@kbfg.com. -- Ed. Initiate coverage with BUY and TP of KRW223,000 We initiate coverage of SK innovation with a BUY rating and target price of KRW223,000 (42.0% potential upside). We have used the P/B-ROE model in deriving TPs for K
South Korean enterprises’ foreign currency borrowings are increasing rapidly. Specifically, the foreign currency borrowings of the top 100 non-financial listed companies in terms of assets increased from 10.4019 trillion won to 11.3075 trillion won in the first half of this year. Previously, the amo
Major U.S. semiconductor equipment makers have recently suspended their business activities in China, raising expectations that they might relocate to South Korea.These companies are withdrawing from China because the U.S. Department of Commerce has virtually banned U.S. companies from exporting sem
LG Energy Solution will supply batteries for electric vehicles to Toyota of Japan, the world’s No. 1 player in car sales. The Korean battery maker also signed a battery supply deal with Japan's Honda earlier this year.LG Energy Solution is in talks with Toyota over the supply of batteries produc
Shinhan Financial Group announced on Oct. 14 that MUST. CONNECT SINGAPORE took place at the Singapore Science Park on Oct. 12 and 13.The event is for startup networking promotion between South Korea and Singapore and is organized by the group, the Ministry of Trade, Industry and Energy and the Inche
The World Bank announced on Oct. 16 that South Korea’s nominal GNI per capita was US$34,980 in 2021, when that of Italy was US$37,510. For reference, in 2020, South Korea (US$32,930) topped Italy (US$32,380) to outdo a G7 state for the first time ever.In 2020, Italy’s economic growth rate was negati
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. Despite low seasonality (3Q), we now believe that The Nature Holdings’ 3Q22 earnings will come in above our previous estimates on both brisk domestic sales and a surge in travel luggage sales via h
The unprecedented shutdown of KakaoTalk messenger app that occurred on Oct. 15 clearly exposed the problems of a platform monopoly. The shutdown of the widely used mobile messenger app did not end with the suspension of about 20 related Kakao services. Other companies and government agencies that us
The author is an analyst of NH Investment & Securities. He can be reached at yongjin.seol@nhqv.com. -- Ed. Korean Re is likely to report sluggish earnings due to natural catastrophe losses. However, expectations for structural growth remain valid and the firm’s valuations are also attractive.Continu
Hyosung Advanced Materials announced on Oct. 13 that it has acquired International Sustainability & Carbon Certification (ISCC) PLUS certification, an international certification program for eco-friendly materials, for the first time in the global tire cord industry.ISCC PLUS is a sustainability cer
SK Telecom (SKT) has signed a memorandum of understanding (MOU) with e& (formerly known as Etisalat Group), a global technology and investment conglomerate, to jointly promote the metaverse business in the Middle East. Under the MoU, SKT and e& agreed to jointly promote the metaverse business in cou
The Korea International Trade Association announced on Oct. 13 that China’s share in the U.S. communications equipment market dropped from 49.2 percent in 2018 to 24.5 percent in 2021 and then to 19 percent in the first half of this year.“The share in the global market rose from 40.1 percent in 2012
In the future, all customers who have purchased vehicles from Hyundai, Genesis, and Kia will not have to go to service centers to update their car software. This is because the over-the-air (OTA) software update function will be installed as a standard on all Hyundai Motor Group models to come out b
The US government has allowed Samsung Electronics and SK Hynix to send semiconductor production equipment to their plants in China for one year without applying for a separate permit.The US Department of Commerce recently gave an official notification of this policy to Samsung Electronics and SK Hyn
Hankook & Company Co., Ltd., the holding company of Hankook Tire & Technology Co., Ltd., recently has announced the establishment of a subsidiary company, Hankook & Company ES Deutschland GmbH, under its Energy Solution (ES) Business Headquarters. Located in Frankfurt, Germany, Hankook & Company ES
SK On announced today (Oct. 12) it has signed a lithium supply deal with Australia’s Lake Resources, to further strengthen its key battery materials supply chain in response to robust business growth and geopolitical risks.Under the agreement signed on Oct. 11, the global leading electric vehicle (E
The Korean display industry drove Korea’s exports, making Korea a display powerhouse in the world one exporter just 10 years ago. But it has been put into a position to completely lose its power as Korea’s national strategic industry due to a price war initiated by Chinese display makers and a compl
Samsung Biologics began to solidify its position as the No.1 CDMO company after completing the world’s largest biopharmaceutical plant in Songdo, Incheon.Samsung Biologics announced that it has started a full-fledged operation of a biopharmaceutical production facility with a production capacity of