The author is an analyst for Shinhan Securities. He can be reached at snowKH@shinhan.com -- Ed.Disappointing 1H, gradual rebound expected in 2HChunbo is expected to have registered operating profit of KRW2bn (-83% YoY) in 2Q23, revised down from our previous estimate of KRW6.8bn. Operating profit ca
The author is an analyst for NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.Hyundai E&C’s 2Q23 results beat both consensus and our estimates on increased sales at its housing business. In addition to likely order growth for overseas petrochemical and infrastructure projec
The author is an analyst for NH Investment & SEcurities. HE can be reached at yk.choi@nhqv.com -- Ed.Key indicators in the refining industry are strong. Refining margins and aromatics product spreads are above the historical averages. In 2H23, solid refining margins should continue amid limited room
According to the investment banking industry on July 24, LG CNS is considering when to apply for preliminary examination for listing on the Korea Exchange (KOSPI).LG CNS has been pushing for a listing by selecting KB Securities, Bank of America (BoA), and Morgan Stanley as IPO underwriters since May
According to the SK SUPLEX Council on July 24, Korean Arts Week, sponsored by SK Group and Korea Investment & Securities, concluded successfully at Lincoln Center in New York, the U.S., with the enthusiastic participation of more than 10,000 local residents and rave media reviews.Korean Arts Week, h
Kwangdong Pharmaceutical announced on July 24 that it has signed an exclusive domestic sales and distribution contract with Italy’s rare disease drug specialist Chiesi.As a result, Kwangdong Pharmaceutical now holds the exclusive domestic sales and distribution rights for three of Chiesi’s rare dise
Hanwha Ocean announced on July 23 that representatives have signed a memorandum of understanding (MOU) with the Vietnamese Ministry of Industry and Trade on July 22 for the comprehensive cooperation project “for the training and recruitment of Vietnamese manpower.”This MOU was signed to support the
Samsung Electronics is pumping up its efforts to diversify its supply chain for large LCD panels for TVs by lowering its dependence on products from BOE, China’s largest panel maker, which is being engaged in a patent lawsuit with the Korean tech giant. The company is expected to seek to strengthen
Samsung Electronics and LG Display are expanding their alliance to include 77-inch organic light-emitting diode (OLED) TVs after the 83-inch models. The alliance with LG Display is expected to expand to LCDs due to a patent dispute between Samsung Electronics and BOE of China.According to industry s
Samsung Electronics, Nvidia, Qualcomm, and TSMC are engaged in a fierce competition to dominate the autonomous driving semiconductor market. Recently, automotive companies such as Hyundai Motor and Tesla have also entered the fray, developing their own autonomous driving chips. The reason for this i
Taiwan’s TSMC, the world’s No. 1 foundry company, has decided to delay the start of its local plant in Arizona, the U.S., which was scheduled for 2024. TSMC’s delay is due to the difficulty of finding skilled labor in the U.S. market.This has come as a big disappointment for the Biden administration
KT Group will invest 15 billion won in Moreh, a Korean artificial intelligence (AI) infrastructure software company. The company plans to make a major change in domestic AI service and solution ecosystems that rely on Nvidia’s software by joining forces with companies with unique technologies in the
Chinese banks that have entered the Korean market have faced a wave of sanctions from the Financial Supervisory Service (FSS) for breaching reporting obligations.The simultaneous sanctions imposed on Chinese banks are considered unusual, demonstrating the financial authorities’ determination to take
The Net International Investment Position (NIIP) as a percentage of Gross Domestic Product (GDP), which indicates Korea’s ability to make international payments, stood at 46.3 percent last year, showing an increase of nearly 10 percentage points in just one year. This growth was driven by the expans
In the first six months of this year, the net issuance of Korean Paper denominated in foreign currencies by domestic residents, excluding the government, amounted to US$13.3 billion. This marks a significant increase compared to the previous year’s annual net issuance of US$11.4 billion. Furthermore
The era of methanol ships has officially begun with the voyage of the world’s first methanol propulsion ship, built by a Korean shipbuilder. Following HD Korea Shipbuilding & Offshore Engineering, which leads in technology having secured the most methanol ship orders globally, Samsung Heavy Industri
Over 650,000 electric vehicles (EVs) were sold in the United States in the first half of this year, representing an increase of over 50% compared to the same period last year. However, the market share of Korean automakers is retreating.The Korea Automobile & Mobility Industry Association (KAMA) ann
Taiwan Semiconductor Manufacturing Company (TSMC), the world’s top semiconductor foundry, has maintained its position as the global semiconductor leader throughout the fourth quarter, ahead of Samsung Electronics. Forecasts suggest TSMC’s dominance will continue, fueled by a recovery in business per
Korea Development Bank (KDB) is set to start the process of selling its controlling stake in HMM, a deal that is anticipated to be one of the largest M&A transactions in the market, possibly worth up to 5 trillion won.KDB Bank announced on July 20 that they have issued a public competitive bid for t
The Ministry of Culture, Sports and Tourism, in conjunction with the Korea Visit Committee, will hold the “Korea Summer Beauty Sale” for a month from July 20 to August 20.The Korea Summer Beauty Sale is a public-private partnership event held with the participation of the K-Tourism Cooperation Team