Seoul’s living expenses were the 12th-highest among major cities in the world. Seoul eclipsed Tokyo (13th), Finland’s Helsinki, and Britain’s London (17th) in living expenses.Tel Aviv, the capital of Israel, is the most expensive city to live in, according to the World Cost of Living (WCOL) Rankings
POSCO Group is pushing for a shift to a holding company system. It intends to establish an investment-type holding company to strengthen its eco-friendly new businesses and thereby increase its corporate value. The group announced on Dec. 1 that it will put governance reform on the agenda of a board
The author is an analyst of KB Securities. He can be reached at newday@kbfg.com. -- Ed. Drillship from inventory sold for USD245mn— On Dec 1, SHI announced that it had signed a deal with a European drilling company to sell one of its drillships in inventory for USD245mn.— The drillship was originall
The authors are analysts of Shinhan Investment Corp. They can be reached at eoyeon.hwang@shinhan.com and younghoon.song@shinhan.com, respectively. – Ed. 4Q21 OP to meet consensus at KRW29.1bn (+39.0% YoY)Nex1 will likely post sales of KRW576.4bn (+18.4% YoY) and operating profit of KRW29.1bn (+39.0%
The Bank of Korea announced on Nov. 30 that South Korea’s current account surplus has continued since 2000 and shown a substantial increase since 2012. “The current account surplus-to-GDP ratio was 1.5 percent on average from 2000 to 2011 and 5.1 percent on average from 2012 to this year,” it said,
LG Energy Solution has received preliminary approval for listing on the Korean stock market, the Korea Exchange said on Nov. 30.LG Energy Solution is a secondary battery manufacturer established in December 2020. LG Chem holds a 100 percent stake in the company. LG Energy Solution’s consolidated fin
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. In Mar 2021, Lotte REIT incorporated new assets, including a Lotte logistics center. Moving ahead, it will likely incorporate further assets owned by the Lotte Group. We see 2022F DY of 6%, excee
The author is an analyst of KB Securities. He can be reached at drlee@kbfg.com. -- Ed. Maintain HOLD, cut target price 5.5% to KRW138,000 We maintain HOLD on Netmarble but cut our TP by 5.5% to KRW138,000 to accommodate a 7.8% downward revision to 2022E OP that reflects the disappointing performance
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed. Maintain BUY; raise target price 5.3% to KRW40,000 We maintain BUY on Korean Air and raise our TP by 5.3% to KRW40,000. Upward revisions to oil price projections should undermine earnings in the long run,
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com. -- Ed. We raise our TP on LGI in reflection of upward adjustments to our earnings estimates, following a North American client’s shipment growth and market share expansion. Over the mid/long term, the fi
LCD panel prices are on the decline these days after a steep rise since last year. The strong rebound in LCD panel prices led Samsung Display and LG Display to shelve their plans to withdraw from the LCD market. Yet, they are now considering terminating their LCD business again as LCD panel prices h
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com. -- Ed. Retail sector share prices have fallen sharply due to the re-emergence of concerns related to Covid-19. However, considering that contrary to concerns, sales flows are better than expected and valuati
The authors are analysts of Shinhan Investment Corp. They can be reached at mj1224@shinhan.com and kimaram@shinhan.com, respectively. – Ed. Expectations for new titles arriving in 2022 and P2E NFT gamesNeowiz is set to release a number of new games from the end of this year through 2022. Its subsidi
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. The macroeconomic environment for the securities sector is likely to be somewhat unfavorable next year, given the slowdown in stock trading value and interest rate hikes. However, we believe that cur
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. Having undergone a tantrum in October, the KTB market stabilized rapidly in November. Concerns over punitive rate hikes will likely ease in that the BOK’s focus has shifted from accumulated financia
Hankook Tire & Technology and its union have ended their 59 years of strike-free settlement of wage negotiations.The union went on strike beginning from 6 a.m. on Nov. 24 following the breakdown of their wage and collective bargaining negotiations with the management. As a result, tire production (7
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. For the first time in six months, DRAM spot prices are rebounding. Non-face-to-face demand for PCs and servers is increasing again due to the re-spreading of Covid-19. Sales of the iPhone 13 series re
The National Defense Committee of the National Assembly deferred the adoption of three Military Service Act amendments at its meeting on Nov. 25. The amendments are to allow an alternative military service for well-known popular artists.This means the seven BTS members will be enlisted. They submitt
The author is an analyst of Shinhan Investment Corp. He can be reached at mingu.jeong@shinhan.com. -- Ed. Initiate coverage with BUY for a target price of KRW81,000We initiate coverage of CreaS F&C with BUY for a target price of KRW81,000, based on 2022F EPS and a target PER of 11.6x. Our target PER
The author is an analyst of KB Securities. He can be reached at joonsop.analyst@kbfg.com. -- Ed. Post-spinoff relisting scheduled for Nov 29 based on 5:1 stock split— Shares of SKT (existing entity) and SK Square (new entity) will relist/list on Nov 29.— SKT has consolidated subsidiaries such as tel