In March 2021, Seo Jung-jin, the honorary chairman of Celltrion, declared his retirement, stating, “If there are any deficiencies in management, I will be prepared to play a firefighter’s role.” However, just two years later, in March of this year, he made a surprising announcement of his return to
Hanwha Ocean has turned a profit. This marks the first time it has emerged from a deficit in 12 quarters since the fourth quarter of 2020.On Oct. 25, Hanwha Ocean announced that it recorded 1.92 trillion won (US$1.42 billion) in revenue, 74.1 billion won in operating profit, and 231.6 billion won in
A U.S. appeals court has rejected a claim by U.S. steelmaker Nucor that cheap electric power in Korea is a subsidy provided by the Korean government to POSCO.According to industry sources on Oct. 24, the U.S. Court of Appeals for the Federal Circuit (CAFC) ruled in favor of POSCO in its appeal of a
Financial Supervisory Service (FSS) Chairman Lee Bok-hyun has announced that the agency will actively consider punishing Kakao Corp. for alleged Kakao Corp. stock price manipulation by its founder Kim Bum-soo and employees. If Kakao Corp. is fined for violating the Capital Markets Act, it may lose i
SK hynix has achieved a significantly higher stock price growth this year after successfully pioneering the development of high-performance semiconductors in the Artificial Intelligence (AI) sector, thereby overshadowing its competitor, Samsung Electronics, Bloomberg reported on Oct. 23.According to
Financial authorities, including the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS), have uncovered allegations of stock manipulation related to a Chinese company, hereinafter referred to as Company A, which is listed on the KOSDAQ in South Korea. These allegations s
Former Kakao Chairman Kim Beom-soo appeared before the Financial Supervisory Service (FSS) in connection with allegations of market manipulation involving SM Entertainment stock prices.The FSS’ Capital Market Special Judicial Police have notified former Chairman Kim to attend the FSS as a suspect by
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
The author is an analyst for NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.We downgrade our rating on the petrochemical industry to Neutral. Significant demand improvement is unlikely in 2024, and both oversupply and burdensome oil price levels are likely to persist. In our
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
The author is an analyst for NH Investment & Securities. He can be reached at hzl.lee@nhqv.com -- Ed.We lower our TP on ContentreeJoongAng to W16,000, reflecting both declines in broadcasting peer multiples and the continued sluggish performance of theaters. However, we adhere to a Buy rating. With
The author is an analyst for NH Investment & Securities. She can be reached at eunsang.lee@nhqv.com -- Ed.We expect LX Hausys’s 3Q23 results to come in sound, matching the figures posted in 2Q23. Meanwhile, the valuation gap with Hanssem has widened. The slowdown in construction starts from 2022 is
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 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
Challenges loom ahead for domestic companies that sell cathodes, made from materials like lithium and nickel, to battery manufacturers.Companies that held a strong foothold with nickel, cobalt, and manganese, essential for ternary batteries, are now under threat as the competition for low-priced ele
Samsung Electronics, which had faced the threat of 400 billion won (US$295 million) in compensation due to a patent dispute with American semiconductor firm Netlist, can now breathe a sigh of relief.According to industry sources on Oct. 18, the U.S. Federal Ninth Circuit Court of Appeals recently re
The European Union (EU) has shown interest in incorporating nuclear power generation into the scope of the “Net-Zero Industry Act (NZIA),” which supports environmentally friendly industrial investments. This development could provide impetus to South Korea's efforts to promote the international expa
The U.S. Department of Commerce has intensified the ongoing “chip war” between the United States and China by effectively blocking all semiconductor deals with China, including prohibiting exports of low-end artificial intelligence (AI) chips, on Oct. 17 (local time).The Ministry of Trade, Industry,
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.Lonza presents disappointing earnings guidance at Capital Markets Day eventAt its Capital Markets Day event on Oct 17 (local time), Samsung Biologics’ peer Lonza presented its mid/long-term growth pr
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.KT has unveiled its dividend policy for the next three years. The announcement should put to rest recent fears of dividend reduction. The firm’s commitment to keeping DPS at the 2022 level evidenc