SK magic topped annual sales of one trillion won last year, when the number of its rental accounts exceeded two million on a cumulative basis. Korea Investors Service raised the credit rating of the company from A0 to A+ on Feb. 17.Despite the record performance and credit rating improvement, its IP
The author is a strategist of NH Investment & Securities. He can be reached at lawrence.kim@nhqv.com. -- Ed.As posited by some literary analysts, The Wonderful Wizard of Oz is a not-so-subtle argument for the benefits of inflation to workers and farmers in terms of reducing the real value of borrowi
Korean securities firms are scrambling to attract individual Korean investors who prefer to invest in foreign stocks.The amount of payments for foreign currency shares stood at US$198.32 billion in 2020, up 383.9 percent from the previous year, said the Korea Securities Depository on Feb. 22.As over
Daewoo Engineering & Construction (Daewoo E&C) has developed 4D smart modeling program "SM.ile" based on big data.The program makes it easy to implement 4D modeling of earth work and frame construction by utilizing big data the company has accumulated through 47 years of experiences at home and abro
Daewoong Pharmaceutical announced on Feb. 16 that a U.S. court has allowed it to continue to sell its botulinum toxin (Botox) product Jeuveau (Nabota in Korea) in the United States.The court’s decision came one day after U.S. President Joe Biden endorsed the U.S. International Trade Commission’s det
Daewoo Shipbuilding & Marine Engineering announced on Feb. 16 that it signed a contract with a European shipowner to supply four container ships.The total value of the contract is 486.3 billion won and the ships will be delivered by September 2023.This year, Daewoo Shipbuilding & Marine Engineering
The Ministry of Land, Infrastructure, Transport and Tourism of Japan has urged the Japanese government to call the South Korean government’s shipbuilding industry support policy into question in the framework of the WTO and the OECD.The demand is to object to the merger between Hyundai Heavy Industr
Democratic Party of Korea lawmaker Park Yong-jin said on Feb. 15 that 56 domestic and foreign securities companies took a fee of 354.1 billion won as short selling brokers from 2014 to 2020.The amount includes more than 250 billion won taken by Merrill Lynch, Morgan Stanley, UBS and Credit Suisse. T
The Korea Fair Trade Commission announced that South Korea was home to 64 business groups and SK was the one with the largest number of subsidiaries, 144, as of Jan. 31. The commission also said that the group had no subsidiary in the financial and insurance sectors.The runner-up is Kakao, which had
The number of individual investors with at least one billion won in Mirae Asset Daewoo, NH Investment & Securities, Korea Investment & Securities, Samsung Securities and KB Securities totaled 50,623 at the end of last year.The number increased by no less than 17,593 in one year and exceeded 50,000 f
Hyundai Heavy Industries Group, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries set their order intake target for this year at US$30.4 billion, 44.1 percent higher than their performance for last year. The target of Korea Shipbuilding & Offshore Engineering, which is the inter
The author is an analyst of Shinhan Investment Corp. He can be reached at eoyeon.hwang@shinhan.com. -- Ed. 2021outlook: Operating profit of KRW59.4bn (-58.5% YoY)Korea Shipbuilding & Offshore Engineering (KSOE) is expected to post sales of KRW16tr (+7.7% YoY) and operating profit of KRW59.4bn (-58.4
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Noting differing apartment pre-sale targets among individual construction players, we can predict their earnings flows over the next three years. We draw attention to Daewoo E&C (2020 sales volum
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Although Mirae’s 4Q20 results came in below consensus, we attach no significance, noting the booking of several one-off items. The firm should enjoy solid 2021 earnings on accelerated money movement
South Korean companies in Myanmar are paying close attention to the military coup in the country.According to the Export-Import Bank of Korea, they set up 107 local subsidiaries and branches and invested US$668 million in Myanmar from 2018 to 2020. Most of the companies are clothing and sewing compa
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Despite a share price increase of 100% since the release of our 2021 outlook report, Daewoo E&C’s shares are still trading at a 2021E P/E of only 6.0x, indicating ongoing undervaluation versus th
Whether to extend the ban on short selling will be decided in February. The ban is slated to come to an end on March 15. Controversy is heating up over the resumption of short selling amid opposition from politicians and individual investors who assert that short selling only gives advantages to for
The author is an analyst of KB Securities. He can be reached at newday@kbfg.com. -- Ed. KSOE to carry out IPO of HHI this year— Korea Shipbuilding & Offshore Engineering (KSOE) announced after market close that it will move forward with the domestic IPO of its subsidiary Hyundai Heavy Industries (HH
Hyundai Heavy Industries Group has decided to push for an initial public offering of its unlisted affiliate Hyundai Heavy Industries Co. within 2021. The business group is planning to raise 1 trillion won through the IPO and invest the funds in future projects such as eco-friendly and self-sailing s
Daewoong Pharmaceutical said on Jan. 25 that it has won approval from the Korean Ministry of Food and Drug Safety on Phase 3 clinical trial of Foistar Tab (component name: camostat mesilate), which was originally released as a treatment for reflux esophagitis, as a COVID-19 drug.The clinical trial i