Attention is focusing on Hyundai Motor Group’s reorganization plan. Hyundai Motor Co. and Kia developers are scheduled to be relocated to recently acquired autonomous driving startup 42dot, and Hyundai Mobis, a core subsidiary of the group, is planning to set up module and component production subsi
The author is an analyst of Shinhan Investment Corp. He can be reached at bh.lee@shinhan.com. -- Ed. Health functional foods supplierCosmax NBT specializes in the manufacture of health functional foods with production bases in Korea, US, and China. As of 2Q22, the company generates more than 60% of
As the United States is in a hurry to strengthen its supply chains, Korean companies are accelerating their investments in North America. SK Group has recently announced a large-scale investment plan in North America. In a video interview with U.S. President Joe Biden in July, SK Group chairman Chey
SK Inc. and SK Innovation (collectively, “SK”) invest in a next-generation small modular reactor (SMR) developer in the United States, stepping up their efforts to reduce global carbon emission. The investment is likely to provide a boost to SK Group’s strategy for the early achievement of net-zero
Qualcomm signed a US$4.2 billion contract with GlobalFoundries on Aug. 8 to increase its chip purchase. The size of their contracts increased to US$7.4 billion and the additional contract is for GlobalFoundries to produce in New York chips designed by Qualcomm for 5G transceiver, Wi-Fi, automotive a
Competition is heating up among global memory semiconductor producers to develop compute express link (CXL)-based memory solutions. CXL is an open, industry-supported standard for CPU-to-device and CPU-to-memory connections. The CXL interface is a key technology that enables more innovative ways to
Medytox’s Chinese partner has announced that it would terminate cooperation with the Korean company in the botulinum toxin business, dealing a blow to Medytox’s efforts to expand its business in China. Bloomage BioTechnology announced on Aug. 3 that it notified Medytox on July 29 of its intention to
CJ CheilJedang announced on Aug. 1 that it would invest US$210 million to expand its amino acid plant in Brazil.Completed in August 2004, the plant produces lysine, an amino acid for livestock feed (feed additive).The company is expanding the plant to produce high value-added amino acid items other
The European Union Chamber of Commerce in Korea announced on Aug. 1 that 23 percent of European enterprises canceled or postponed their investment in China in the second quarter of this year. This is because China’s economic growth is slowing down and the United States and the European Union are res
SK Group chairman Chey Tae-won held a video conference with U.S. President Joe Biden on July 26 and said his group would make an additional investment of US$22 billion (28.8 trillion won) in the United States.SK Group has already announced it would invest US$7 billion (9.1 trillion won) in the Unite
The author is an analyst of KB Securities. He can be reached at kimtaehee@kbfg.com. -- Ed. Recommend BUY, target price of KRW380,000 We recommend BUY and TP of KRW380,000 on Hanmi Pharm. We highlight the 2Q22 earnings surprise, steady 2H22 growth forecasts for Korea/China, the release schedule of cl
The authors are analysts of Shinhan Investment Corp. They can be reached at hyungwou@shinhan.com and michlshim94@shinhan.com, respectively. -- Ed. 2Q review and 3Q outlook: Electronics parts sales deferred to 2HKoh Young Technology posted operating profit of KRW9.5bn (-17% YoY) on sales of KRW65bn (
At the Win-Win·Huawei Innovation Week, David Wang, executive director of the board and chairman of the ICT Infrastructure Managing Board of Huawei, delivered a keynote speech titled "Innovation, Lighting up the 5.5G Era". In his speech, Wang spoke about the next evolution of 5G technology, which the
Samsung Biologics is aiming to become the world’s No. 1 contract design and manufacturing organization (CDMO) by establishing a second biotech campus in Songdo International City, Incheon.The company announced on July 18 that it has signed a contract with the Incheon Metropolitan Government to acqui
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. Hanmi Pharm posted consolidated 2Q22 sales of W316.5bn and OP of W29.6bn, with OP coming in slightly below our estimate. Beijing Hanmi led consolidated OP growth, booking OP of W17.1bn. The strength
The U.S. Food and Drug Administration (FDA) will make a decision on awarding marketing approval for Rolontis, the first new biotech drug candidate of Hanmi Pharmaceutical, in September. According to the FDA’s Prescription Drug User Fee Act (PDUFA), Rolontis’ approval deadline is set at Sept. 9.The F
JW Group announced on July 13 that it has signed a business agreement with ARCH Venture Partners, a U.S. venture capital (VC), to promote open innovation with global biotech companies.Under this contract, JW Group will be granted access to the ARCH Technical Service (ATS), which provides technical i
Orion Holdings announced on July 13 that Shandong Lukang Haoliyou Biotechnology Development, its joint venture in China, has signed a contract with the Chinese city of Jining, Shandong Province, to cooperate in a vaccine development project.This contract is about cooperation in the development of a
SK Group chairman Chey Tae-won met with Mexican Foreign Minister Marcelo Ebrard in Seoul on July 7 to discuss cooperation in four strategic business areas -- green business (rechargeable batteries), biotechnology, digital technology, and semiconductors and advanced materials.Chey talked about cooper
The authors are analysts of Shinhan Investment Corp. They can be reached at snowKH@shinhan.com and wonyong.sim@shinhan.com, respectively. -- Ed. 2Q22 sales to come in at KRW569.9bn (+11% YoY)We now expect Hyundai Autoever to report operating profit of KRW25.3bn (-25% YoY, +13% QoQ) on sales of KRW56