The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Following on from January, we maintain a Neutral rating for the construction sector. While announcing its proactive real estate market measures, the government made it clear that it does not inte
Last year, car exports from South Korea exceeded US$50 billion, achieving the highest ever export performance. Despite the Russia-Ukraine war and global automotive chip shortage, exports of eco-friendly vehicles such as electric and hybrid cars increased significantly and drove growth.The Ministry o
A luxury hotel that will become a new landmark in Dubai, the United Arab Emirates (UAE), has revealed itself.Ssangyong E&C announced on Jan. 26 that the Royal Atlantis Resort & Residences, which is to open early next month, held a pre-opening event for VIPs for three days from Jan. 20.The event attr
The Korea Securities Depository (KSD) announced on Jan. 25 that paid-in capital increase in South Korea totaled 34.0998 trillion won consisting of 1,187 cases last year, down 32.6 percent and down 11.8 percent from a year ago, respectively. In KOSPI, 100 cases (down 20 percent) constituted 20.7113 t
Global Sae-A Group, the world's largest apparel exporter, appointed Kim Ki-myung, CEO of the group's holding company, Global Sae-A, as the new CEO of the recently acquired Ssangyong E&C.Kim served as the head of Walmart Korea, the CEO of In The F and the head of Sae-A Trading’s U.S. corporat
The Korea Automobile Importers & Distributors Association announced on Jan. 4 that the domestic sales volume of Hyundai Motor Co., Kia, GM Korea, Renault Korea and SsangYong Motor totaled 1,388,476 in 2022, down 3.1 percent from a year ago.Hyundai’s fell 5.2 percent to 688,884 and Kia’s rose 1.1 per
Shareholders of Ssangyong Engineering & Construction Co. approved new directors appointed by Global Sae-A Group, which is the largest shareholder of the construction company, in an extraordinary meeting on Dec. 29.Global Sae-A Group is the world's largest apparel export company. It signed a stoc
SsangYong Motor will be renamed KG Mobility and its new models will be launched under the KG brand, Kwak Jae-sun, chairman of KG Group, which has acquired the ailing automobile company, said.“We have decided to go for a new name to fully utilize the strength of SsangYong Motor,” said Kwak, who doubl
The Korea Automobile Manufacturers Association announced on Dec. 14 that Hyundai Motor Co., Kia, GM Korea, SsangYong Motor and Renault Korea produced 3,394,816 cars in South Korea from January to November this year. The amount increased 8.3 percent year-on-year, and the November output hit a four-ye
The Ministry of Trade, Industry and Energy announced on Dec. 12 that South Korean automakers’ output and exports increased 25.4 percent and 25 percent last month, respectively. Auto exports increased for five months in a row to reach a new high. Electric and hydrogen vehicle exports set new records,
As the shortage of automotive semiconductors gradually eases, the five Korean automakers posted sales growth in November. In domestic sales, they had mixed results, but in overseas markets, they all enjoyed increased sales.Domestic auto sales in November totaled 127,157 units, up 3.2 percent from th
Many large Korean construction companies are moving to get a piece of the action as Saudi Arabia wants to partner with Korean builders in promoting the Neom City project. Yet, DL E&C, the No. 3 player in the Korean construction market, appears to have failed to jump on the bandwagon. DL E&C reduced
Global SAE-A Group has acquired Ssangyong E&C from Investment Corporation of Dubai (ICD), the largest shareholder of the overseas construction company, the group announced on Oct. 17.Global SAE-A signed a stock purchase agreement (SPA) with ICD on Oct. 14. The target of the deal is the ICD’s stake i
A survey has found that three German automakers -- BMW Korea, Mercedes-Benz, and Volkswagen Korea -- had the highest number of recalls over the past five years from 2018 to August 2022.BMW Korea topped the list with 2,702 recalls during this period, according to Rep. Park Sang-hyuk of the Democratic
South Korean automakers sold 638,744 cars last month, up 12.3 percent from a year ago. Domestic and overseas sales fell 1.1 percent to 105,091 and rose 15.4 percent to 533,653, respectively. For the first eight months of this year, they sold 5,025,253 cars at home and abroad, down 0.8 percent year o
Korea’s automobile exports totaled US$5.14 billion in July on the back of rising demand for Korean eco-friendly vehicles. It was the first time that the nation's monthly automobile exports topped US$5 billion.Last month, automobile exports swelled 25.3 percent from the same month last year, acco
Market research firm SNE Research announced on Aug. 1 that CATL’s share in the global EV battery market rose from 28 percent to 34 percent in the first half of this year.“In that period, BYD, the third-largest company in the market, raised its share from 7 percent to 12 percent,” it said, adding, “T
Global Sae-A Group, which is built around Sae-A Trading, the world’s largest apparel manufacturing and sales company, is seeking to take over Ssangyong E&C, a renowned global builder.The group recently submitted a letter of intent (LOI) to the Dubai Investment Authority (ICD), the largest shareholde
South Korean automakers sold a total of 613,562 cars in May this year, down 2.9 percent from a year ago. All of the five companies showed a negative year-on-year growth due to the ongoing global automotive chip shortage, supply chain malfunction attributable to the war in Ukraine, etc. For the first
Korean automakers and foreign carmakers' operations in Korea delivered mixed results in 2021. Hyundai Motor Co. and Kia Corp. achieved record-high sales in 2021 thanks to strong sales of the luxury brand Genesis and increased sales of SUVs, respectively. Renault Korea Motors, SsangYong Motor and