The auction of two sites in Arizona ended without a bid on April 21. The two sites were expected to house Samsung Electronics’ new semiconductor manufacturing plant in the United States, but Samsung Electronics and other companies did not participate in the tender.One of the sites is located in Good
Following a recent semiconductor meeting at the White House, competition is heating up among U.S. states to attract Samsung Electronics' semiconductor plant worth US$17 billion. So far, Texas is considered the most likely candidate. But Arizona, which recently attracted new investments from glob
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. Despite standout economic indicators, US TB yields are stabilizing downwards, helped in part by strong demand for US TBs by banks (even with an end to SLR regulation relief) and Japanese funds. TB y
Lotte and Shinsegae are expected to try to take over eBay Korea, the third-largest e-commerce company in South Korea. Both Lotte and Shinsegae can become the largest online shopping mall in South Korea once it acquires eBay Korea.eBay Korea, which is running Gmarket and Auction, has remained in the
Korean e-commerce companies are moving to forge new alliances against Coupang.Naver, which started as an Internet search company and expanded its scope to news, content, finance, and shopping, has forged a strong alliance with Shinsegae Group, a Korean distribution and retail giant. The two companie
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. Pricing in fears of Fed tightening, yields on 10yr US TBs recently hit 1.60%. As a cause of yield uptrend, the Fed will tolerate economic improvement but not worries towards tightening. With the key
eBay Korea is expected to be sold to cause a sea change in the domestic e-commerce market. The value of the company is estimated at five trillion won.According to Bloomberg, the eBay HQ is considering various options in South Korea in order to maximize shareholder value and create growth opportuniti
The authors are analysts of Shinhan Investment Corp. They can be reached at ym.ko@shinhan.com and hyungwou@shinhan.com, respectively. -- Ed. Focus on positive changes for telecom equipment in 2021Global telcos have put off investments this year due to the COVID-19 pandemic. We expect capex spend to
NIM:Amid Covid-19, the BOK adjusted down the base rate by 50bp in March, undertaking an additional rate cut of 25bp in May. The resultant downward pressure on NIM is to remain in play through 1Q21.While market yields could change due to external variables, without an uptrend in the base rate, the po
The author is an analyst of NH Investment & Securities. They can be reached at jaemin.ahn@nhqv.com. -- Ed. Frequency allocation to take place in 2021—related costs sized at W500bn (at minimum)~W1.7tn (at maximum) per companyWe note that for the right to use government-allotted frequency bands for a
The author is an analyst of NH Investment & Securities. They can be reached at jaemin.ahn@nhqv.com. -- Ed. Moving forward, we expect domestic telcos to focus on non-telecom businesses. In particular, 2021 should be the year when their non-telecom businesses begin to bloom and push up overall EVs.Tel
The author is an analyst of NH Investment & Securities. She can be reached at jy.lee@nhqv.com. -- Ed. Emart’s shares to perform better going forwardThe large discount store market has been hit hard by growing online penetration, but earnings will likely differ by company, depending on the performanc
The author is an analyst of NH Investment & Securities. She can be reached at jy.lee@nhqv.com. -- Ed. Korean online retail market facing chronic low profitabilityThe Korean online retail market is facing a chronic problem of low profitability amid heated competition among a large number of retailers
Selling fresh produce from an island to the whole nationIn 1995, when then-33-year-old Kim Jeong-yeol started his fruit and vegetable farm on Korea’s Jeju Island, he had a lot to learn. Jeju was his home, so he knew his way around. But his parents had run a factory and he was completely new to farmi
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com, ys.jung@njqv.com and midas.sohn@nhqv.com, respectively. – Ed. Environmental costs increase cost burden for power producers using traditional energy sourcesPower producers using traditional energy sour
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed. Capital to be streamlined with 10:1 capital reduction and preferred share buyback/retirementOn Sep 1, Ssangyong Cement announced a 10:1 capital reduction (common shares) and preferred share buyback/retire
The author is an analyst of NH Investment & Securities. He can be reached at dongkil.noh@nhqv.com. -- Ed. Seegene and Alteogen will likely be added to the MSCI Korea Index. We estimate the probability of SK Biopharm’s inclusion in the MSCI Korea as being less than 50%, as it slightly fails to satisf
The authors are analysts of NH Investment & Securities. They can be reached at jy.lee@nhqv.com. -- Ed. Greater shift towards non-face-to-face commerce could give birth to online retail giantThe Korean New Deal also seeks to foster non-face-to-face businesses, which is to affect retail, platform, and
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. With 5G service effects to start in earnest, the telecom service industry should enter into a full-fledged OP growth cycle from 2H20. Anticipating strong share price rebounds for Korea’s three te
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed.In the wake of the global Covid-19 pandemic, consumption patterns have changed drastically towards non-face-to-face platforms. And, with people having become more familiar with online life using I