Korea’s real gross domestic product (GDP) is expected to rise by 2.0 percent next year from this year, according to the state-run Korea Institute for Industrial Economics and Trade (KIET) in its 2024 Economic and Industrial Outlook report released on Nov. 20. The relatively conservative forecast is
The value of the Japanese yen is nearing its lowest point in 33 years, emerging as a hidden challenge for South Korea’s industrial sector. Key industries such as steel, automotive, and electronic components, which directly compete with Japanese counterparts, are facing weakened price competitiveness
Samsung Electronics has set a goal to increase the sales proportion of artificial intelligence (AI) chips in its foundry (semiconductor contract manufacturing) business to 50% by 2028.According to sources in the semiconductor industry on Nov. 20, the current revenue breakdown by application for Sams
Following LG Electronics’ entry into a 29 percent discount promotion to commemorate the LG Twins’ victory in the 2023 Korean Series, Samsung Electronics has also launched a discount campaign. As the year end approaches, two major players in the domestic home appliance industry, LG Electronics and Sa
Prosecutors have embarked on a search and seizure operation targeting the CEO of Hyundai AutoEver and others.The Fair Trade Investigation Division of the Seoul Central District Prosecutors’ Office announced that they have been conducting search and seizure operations at a total of four locations, in
The author is an analyst for Shinhan Securities. He can be reached at bh.lee@shinhan.com -- Ed.3Q23 review: Profits hit by weak GDR sales and high overseas SG&AGolfzon posted consolidated sales of KRW170bn (-3.4% YoY) and operating profit of KRW27.5bn (-38.7% YoY) for 3Q23, missing our estimates by
South Korean conglomerates, including Samsung and LG, are set to unveil new home appliances, mobile technologies, and mobility (automotive) solutions at CES 2024, the world’s largest electronics trade show held in the United States, embarking on extensive promotional activities.According to industry
The International Monetary Fund (IMF) has warned the Korean economy that it will fall in a low-growth slump for the next five years if it does not take proper steps to reform its structure now.According to an analysis of the IMF’s recently released annual report on Korea, the country’s gross domesti
As Korea, China, and Japan continue to compete in the world shipbuilding market, China took the lion’s share of large oceangoing vessel orders in 2022, according to a report.According to an annual report on the shipping and shipbuilding markets by ship brokerage firm Barry Rogriano Salis (BRS) Group
Despite recent economic downturns and reduced subsidies globally leading to a slowdown in electric vehicle demand, the accumulated investments from South Korea’s three major battery companies -- LG Energy Solution, SK On, and Samsung SDI -- for this year have been confirmed to be double last year’s
Prosecutors have demanded a five-year prison sentence and a 500 million won (US$386,581) fine for Lee Jae-yong, chairman of Samsung Electronics, indicted on charges of unfairly intervening in the merger of Samsung C&T and Cheil Industries to facilitate a succession of managerial power.At the final h
The National Pension Service (NPS) has purchased a large stake in Coinbase, the largest U.S. cryptocurrency exchange, for the first time, paving the way for future direct investment in cryptocurrencies.According to a stock holdings report filed by the NPS to the U.S. Securities and Exchange Commissi
The author is an analyst for NH Investment & Securities. He can be reached at youngryu@nhqv.com -- Ed.Memory companies entered 2023 with lowered expectations for the industry. However, the weakness in memory demand was more severe than expected, and the rate of memory inventory decline was also slow
The Financial Supervisory Service (FSS) has taken a proactive stance in a full-scale confrontation with short-selling forces, revealing that it has detected 33 cases of naked short selling this year and imposed fines and penalties amounting to 10.5 billion won (US$8.11 million). FSS Governor Lee Bok
The author is an analyst for Shinhan Securities. He can be reached at hyon@shinhan.com -- Ed.3Q23 operating profit of KRW15.8bn misses consensusHana Micron reported operating profit of KRW15.8bn (-14% QoQ) on sales of KRW239.4bn (-4% QoQ) in 3Q23, missing the consensus estimate (KRW22bn). Amid the s
FILA Holdings announced its third-quarter results and a special dividend through public disclosure on Nov. 14.The company’s consolidated revenue reached 990.19 billion won and its operating profit stood at 92.56 billion won, supported by subsidiary Acushnet’s robust sales. The FILA brand’s group-wid
The author is an analyst for NH Investment & Securities. He can be reached at jiyoony@nhqv.com -- Ed.In 3Q23, Youngone’s OEM division sales slowed down first time in 10 quarters. Given the industry-outpacing OEM sales clip over the past 2 years, short-term negative effects are inevitable. But, given
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.In 2023, the consumer goods portion of Korea’s exports surpassed that of capital goods for the first time in 25 years. While domestic consumption should weaken on higher interest expense burden in 2
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Over 2021~2023, Korean shipbuilders have landed target-beating new orders. With sufficient order backlogs under their belt, they have raised newbuilding prices to reflect higher costs, and accordingl
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.The transportation industry enjoyed a market boom during the pandemic era, but with trade volume growth slowing and supply growth accelerating, supply burden has increased, bringing down tariffs. The