Korea Electric Power Corp. (KEPCO) announced on Aug. 11 that it has signed a contract with Tenaga Nasional Berhad (TNB) of Malaysia to sell electricity generated by the Pulau Indah Gas-Fired Combined Cycle Power Plant to be built by KEPCO. TNB is a Malaysian multinational electricity company and is
Lotte Chemical has taken over a Vietnamese high-tech material company to attain its vision of becoming the seventh-largest chemical industry in the world. The company is diversifying its overseas business portfolio, ranging from basic materials to high-tech materials.Lotte Chemical acquired Vina Pol
The author is an analyst of KB Securities. She can be reached at shinay.park@kbfg.com. -- Ed. Removal of earnings uncertainty will translate into stock rebound We maintain BUY and raise our TP by 9% to KRW93,000 because our 2020 OP forecast was raised by 7% (marginal revisions were made for 2021 and
The author is an analyst of NH Investment & Securities. He can be reached at ryan.ra@nhqv.com. -- Ed. Pharma Research Products’ 2Q20 earnings are expected to meet consensus, backed by strong earnings growth at the medical device division on increased sales of Conjuran and Rejuran, sales normalizatio
Hyundai Motor and Kia Motors are rapidly increasing their market shares in the Southeast Asian market, which is dominated by Japanese automakers. Although the two Korean automakers still lagging behind their Japanese rivals in terms of sales, analysts say that they will be able to take up a 25 perce
Korea Forest Service held a briefing on July 21 for ambassadors of relevant nations to Korea to drum up support for the Asian Forest Cooperation Organization (AFoCO), which was established under the leadership of the Korean government, in expanding its international activities to respond to global f
The authors are analysts of Shinhan Investment Corp. They can be reached at yjjung86@shinhan.com and ik.jung@shinhan.com, respectively. -- Ed. 2Q20 OP to come in slightly above consensus at KRW14bn (-19.6%YoY)Iljin Materials is expected to have recorded 2Q20 operating profit of KRW14bn (-19.6% YoY)
Aramco Korea was recognized by the Hope Bridge Korea Disaster Relief Association (Hope Bridge) for its contribution of 1 billion won (approximately US$0.84 million) to help curb the spread of COVID-19 in the country.The March 2020 donation has been utilized for a range of relief efforts undertaken b
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com. -- Ed. Thanks to renewable-related support policies connected with economic growth packages to weather Covid-19 impacts, CS Wind is likely to enjoy stronger order momentum in 2H20. Also positive, given tha
SK Group is considering investing about 100 billion won in Air Asia, Asia's largest low-cost carrier (LCC).The group said on June 4 that SK Southeast Asia Investment Corp. has received a proposal from Malaysian-flagged LCC Air Asia to invest in it for a 10 percent stake. SK Southeast Asia Invest
KB Kookmin Bank announced on May 12 that it has completed a financial agreement to extend a 240 million Canadian dollar senior loan to finance the construction of natural gas pipelines in Canada.The loan is part of 8 billion Canadian dollar project financing for 667-km Coastal Gaslink Pipeline in Br
The authors are analysts of Shinhan Investment Corp. They can be reached at hyungwou@shinhan.com and ym.ko@shinhan.com, respectively. -- Ed. Sharp rebound expected in 3Q20 after steep nosedive in 2Q20Samsung Electro-Mechanics is expected to post sluggish earnings for 2Q20, with operating profit to c
Korean Air will resume operations on some routes to the Americas, Europe, and Southeast Asia that have been suspended in the wake of the new coronavirus in June.Korean Air announced on its website that it will operate 32 routes (146 times a week) of a total of 110 international routes starting on Ju
Market research firm IHS Markit said on April 4 that South Korea’s manufacturing purchasing managers’ index (PMI) fell from 44.2 to 41.6 last month, the lowest level since January 2009.The PMI is an economic indicator based on corporate purchasing managers’ survey responses. A PMI of less than 50 me
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com. -- Ed. Murata presented solid FY4Q19 earnings and FY2020 guidance. We view it as positive for related domestic companies that Murata’s capacitor sales guidance remains similar y-y (volume up 5~10%, price
The author is an analyst of Shinhan Investment Corp. He can be reached at yjjung86@shinhan.com. -- Ed. Initiate coverage with BUY for a target price of KRW 50,000We initiate our coverage of Iljin Materials with a BUY rating and a target price of KRW50,000. Our target price is derived by applying a 1
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. External environment tough: Oil price plunge + Covid-19 crisisOverseas new orders are mostly being delayed due to the Covid-19 crisis and oil price plunge. A higher valuation level versus the con
Mercedes-Benz Korea paid 138 billion won in dividends to its largest shareholders, including its German parent company, in 2019, which was a record amount in its history.According to audit reports and business reports submitted by Mercedes-Benz Korea and Mercedes-Benz Financial Services Korea on Apr
Until March, Korean companies were concerned about production disruptions due to the spread of the novel coronavirus in China. As the virus has spread around the world, they are now faced with disruptions in global demand and supply. The global value chain has been paralyzed, impacting on major Kore
The new coronavirus outbreak is now taking its toll on Korean steel manufacturers. Overseas factories of Korean companies such as POSCO and Hyundai Steel have suspended their operations. Amid a deepening recession in downstream industries such as shipbuilding and automobiles, their shutdowns are sta