The author is an analyst for Shinhan Securities. He can be reached at ldh@sinhan.com -- Ed.2Q23 review: Earnings surpriseDoosan Bobcat reported sales of USD2.03bn (+15% YoY) and operating profit of USD360mn (+44% YoY) for 2Q23, an earnings surprise that exceeds market estimates by 3.2% and 28.3%, re
The author is an analyst for NH Investment & Securities. He can be reached at hwdoh@nhqv.com -- Ed.Demand is looking strong for high-performance memory such as DDR5 and HBM, products for which SK Hynix has ?secured a competitive edge. Industry conditions are anticipated to improve in earnest from 3Q
After two decades since the establishment of diplomatic relations in 1992, China is likely to be knocked out from its role as the largest trading partner of the South Korean economy. The void left by China is quickly being filled by Korea’s ally, the United States.South Korea’s current account surpl
Petroleum product exports by Korea’s four major oil refiners increased for the second consecutive year in the first half of 2023.The Korea Petroleum Association reported that petroleum product exports from the country’s four largest refiners (SK Energy, GS Caltex, S-OIL, and HD Hyundai Oilbank) tota
Hyundai Rotem is accelerating its moves to receive railway vehicle orders with the export of its K2 tank. In the first half of this year, the company received the largest-ever amount (worth 3 trillion won) of orders including an order for railway trains for Australia. In Korea, it will make the firs
LG Display announced that it will hold a conference call to announce its earnings for the second quarter of this year on July 26. The display giant added that it was proceeding with its investment in 6th-generation IT organic light-emitting diode (OLED) displays as scheduled.“We are proceeding with
Hanwha Aerospace has begun technology development for the localization of fighter engine materials.Hanwha Aerospace held an agreement-signing ceremony with the Korea Aerospace Technology Research Association, the Korea Evaluation Institute of Industrial Technology, and Seoul National University to d
As foreign investment in domestic securities saw an increase and the exchange rate between the Korean won and U.S. dollar stabilized, banks experienced a historic surge in their daily average foreign exchange trading volume in the second quarter.According to the Bank of Korea (BOK) on July 26, the d
Continuing their struggle, both Samsung Electronics and SK hynix faced losses in the second quarter, following their challenging performance in the first quarter. The cumulative deficit for both companies in the first half of this year reached a substantial figure, nearly approaching 15 trillion won
Hyundai Motor once again achieved a record-breaking quarterly performance, surpassing 4 trillion won (US$3.14 billion) in operating profit for the second quarter of this year. Despite this remarkable feat, the company’s stock price on the KOSPI market remains stuck in a holding pattern.On July 26, H
According to the Korea Agro-Fisheries & Food Trade Corporation (aT) and the Korea Customs Service on July 26, the annual ramen export value last year increased by 13.5% compared to the previous year, amounting to US$765.43 million (945.3 billion won).When adding the sales from overseas local factori
The export status to Australia of Hanwha Aerospace’s Infantry Fighting Vehicle (IFV), the Redback, is expected to be announced within a few days. When it was tendered in 2018, the project’s scale was 450 armored vehicles (approximately 16 to 24 trillion won), but due to the change of the Australian
Korea National Railway announced on July 26 that it had signed a memorandum of understanding (MOU) with Kyrgyz Railways for cooperation between the two entities, including a signal modernization project at Balykchy Station.Through this MOU, the two organizations will establish and operate a working
KB Kookmin Bank has announced its participation as a title sponsor in co-hosting SMTOWN LIVE 2023 with SM Entertainment in Jakarta, Indonesia.“SMTOWN LIVE 2023 SMCU PALACE @JAKARTA with KB Bank” will be held on Sept. 23 at 6:30 p.m. (local time) at the Gelora Bung Karno Main Stadium in Jakarta, Indo
KEPCO KPS announced that it signed an extension contract for the “Punta del Tigre Combined Cycle Power Plant Operation and Maintenance (O&M) Project” with the Uruguayan Electricity Authority (UTE) on July 26 (Korean Time). The agreement is expected to generate more than 50 billion won in sales over
Elements Europe, a subsidiary of GS E&C, has completed its contract for the UK’s largest modular rental housing project.Elements Europe announced on July 26 that it won the Camp Hill project, which constructs rental housing and commercial facilities using a steel module method in Birmingham, U.K. Th
The market capitalizations of the 10 largest Korean conglomerates have reached 40 trillion won in a month and a half, according to securities information firm FnGuide.According to FnGuide on July 25, market caps swelled by 3.05 percent to 1,341.2603 trillion won (US$1.0533658 trillion) as of the clo
The life expectancy of South Koreans was 83.6 years, the second longest among member nations of the Organization for Economic Cooperation and Development (OECD). Life expectancy is the number of years a child born in a given year is expected to live. On the other hand, the nation had the highest sui
SK Inc. announced that its board of directors (BOD) held a meeting on July 26, in which the board declared to distribute an interim dividend of KRW 1,500 per share, matching last year’s payout. The total interim dividend payout amounts to approximately KRW 83.6 billion. SK Inc. has been distributing
China is in hot pursuit of Korea in the global organic light-emitting diode (OLED) display market. While Korea is still far ahead of China in terms of market share, China has caught up with Korea in terms of production capacity by 10-plus percentage points.China’s OLED display production capacity is