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
The Korean Ministry of Food and Drug Safety (KMFDS) has authorized South Korea's first homegrown COVID-19 vaccine from SK bioscience.South Korea has become one of the few countries in the world to have both a domestically developed COVID-19 vaccine and a treatment.SKYCovione is a self-assembled
Major Korean companies are ramping up their investments in Indonesia, which they regard as a base for advancing into Southeast Asia. Korean companies' investments are made in diverse sectors, including electric vehicles, batteries, petrochemicals, and biotechnology. The Indonesian government is
The authors are analysts of Shinhan Investment Corp. They can be reached at hyungwou@shinhan.com and michlshim94@shinhan.com, respectively. -- Ed. AMO Group's think tankAmosense, a subsidiary of electronics parts maker Amotech, was listed on the KOSDAQ market in 2021. The company develops and ma
Hyundai Mobis has become the world's first company to develop an integrated controller that analyzes the driver’s vital signs, such as posture, heart rate, and brainwaves, the company announced on June 23. Dubbed the Smart Cabin Controller, the cockpit system consists of four sensors for measuri
KOSDAQ fell 3.6 percent to close at 769.92 points on June 20, which is the lowest since July 8, 2020. The index has dropped 25.54 percent since this year’s first trading session. The aggregate value of the market dropped from 448 trillion won to 341 trillion won in that period.According to the Korea
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com and sehunjang@shinhan.com, respectively. – Ed. Biotech stocks on a losing streak since 2021Biotech stocks have continued on a losing streak in 1H22. Investor appetite for growth stocks has declined in t
Lotte Group chairman Shin Dong-bin will promote Busan's bid to host World Expo 2030 in Ireland.Lotte Group announced on June 15 that it will set up an official booth at the Consumer Goods Forum (CGF) Global Summit to be held in Dublin, Ireland from June 20 to 23.The booth will showcase not only