LS Cable & System announced a plan to build a submarine cable production plant in the United States in a press conference held at LS Cable & System’s Donghae factory on Oct. 19.“We have confirmed the construction of a plant in the United States and are considering building a plant in Europe,” Kim Hy
An ironic situation unfolds as foreign investors are rapidly withdrawing their investments from the domestic stock market, while the foreign ownership percentage of the total market capitalization on the KOSPI hits a 20-month high.According to the Korea Exchange on Oct. 22, the foreign ownership rat
It is expected that domestic petrochemical companies engaged in the oil refining business will achieve an improvement in their performance in the third quarter. After incurring significant losses in the second quarter, the oil refining sector is anticipated to generate profits due to the upward tren
As of the end of the first half of this year, there were approximately 86 domestic corporate venture capital firms (CVC) established and held by companies to invest in alignment with their business strategies. CVC’s share of the total venture investment amount stands at 22%, and the government has a
As Bae Jae-hyun, the head of Kakao’s investment division, who is suspected of manipulating SM Entertainment’s market price, has been arrested, the Financial Supervisory Service’s special law enforcement police plan to transfer Bae to the prosecution for further investigation.On Oct. 19, the FSS stat
On Oct. 19, the Korean Chamber of Commerce and Industry (KCCI) announced the results of a survey titled “2023 Startup Challenges and Policy Issues” conducted among 259 domestic startups, providing insights into their current obstacles and policy recommendations.The survey revealed that four out of 1
McKinsey introduced the content of its report, “Koreas Next S-Curve,” to international media outlets at Shilla Hotel in Seoul on Oct. 19. In the report, the company proposed three pillars of reorganization, transformation, and construction and eight action items for Korea’s economic renaissance.McKi
South Korea’s major government-run banks and commercial banks, including the Korea Development Bank, the Export-Import Bank of Korea, Kookmin Bank, and Woori Bank, are planning to provide multi-million-dollar loans for Hanwha Group’s 24 trillion won (US$17.71 billion) investment in a U.S. liquefied
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.Compared to 1H23, conditions are improving at CJCJ’s major business divisions, and it is expected that the firm’s consolidated OP will strengthen from 4Q23. The decision to sell CJ Selecta following th
The author is an analyst for Shinhan Securities. He can be reached at jk.ahn@shinhan.com -- Ed.BOK likely to keep base rate at 3.50% given inflation and household debtAt the upcoming October meeting, we expect the Monetary Policy Board (MPB) of the Bank of Korea (BOK) to make a unanimous decision to
Regarding recent discoveries of illegal short selling involving global investment banks, Lee Bok-hyun, the head of the Financial Supervisory Service (FSS), stated on Oct. 17, “We will hold them financially responsible for a much larger amount than in the past. Criminal punishment also seems possible
It has been revealed that the amounts of fines and penalties imposed on domestic commercial banks in foreign countries have increased by 180 times in just three years.Based on the data obtained by Kim Jong-min, a member of the opposing Democratic Party, from the Financial Supervisory Service, fines
It has been revealed that the five major domestic banks in South Korea – KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup – have increased their real estate investments in foreign countries by more than two-fold over the past two years.According to data received by Min Byeong-deok, a member of the
South Korean defense industry firms have entered into a second-stage weapons export contract with Poland worth 30 trillion won (US$22.12 billion). This would elevate South Korea to the fourth-largest defense industry exporter worldwide in one go. However, the finalization of the contract, which was
Just last month, a substantial amount of approximately 11 trillion won (US$8.14 billion) in Korean won was withdrawn from the U.S. dollar deposits of the top five domestic commercial banks. It is analyzed that people exchanged dollars for won to capitalize on exchange rate differentials with the won
As financial authorities announced a one-year delay in the mandatory implementation of Environmental, Social, and Governance (ESG) disclosure, originally targeted for 2025, the business sector breathed a sigh of relief, stating that this extra time would allow them to better prepare for the regulati
The author is an analyst for NH Investment & Securities. He can be reached at yd.yoon@nhqv.com -- Ed.We expect Samsung Securities to emerge as a high dividend large-cap stock, foreseeing 2023 DY of 7.2%. Despite difficult industry conditions, stable earnings should continue over 2023~2024 on outstan
The three major South Korean shipbuilders – HD Korea Shipbuilding & Offshore Engineering (KSOE), Hanwha Ocean, and Samsung Heavy Industries – are likely to simultaneously achieve a quarterly profit in the third quarter of this year, marking the first time in 11 years.According to the shipbuilding an
The Financial Supervisory Service (FSS) has uncovered common illegal short selling practices by a global investment bank (IB) for the first time.According to the announcement from the FSS on Oct. 15, a Hong Kong-based global IB, hereinafter referred to as Company A, submitted short selling orders wi
In 2022, the Polish government signed framework agreements to buy a total of US$12.4 billion worth of arms from major Korean defense companies. The weapons included 48 FA-50 light attack aircraft, 1,000 K2 tanks, 648 K9 self-propelled howitzers and 288 Cheonmoo self-propelled multiple launch rocket