The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Revenue rises in 1Q23; profit improvement startsHHI booked 1Q23 sales of W2,632.9bn (+31.5% y-y) and OP of W36.1bn (TTP y-y; OPM 1.4%), slightly below market consensus. NP (excluding minority interest
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.LG H&H’s consolidated 1Q23 OP fell 17% y-y. In particular, 2Q23 earnings expectations need to be tempered towards the cosmetics division, as both the Chinese and DFS channels are performing sluggishl
The authur is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.Daewoo E&C’s 1Q23 earnings beat consensus on cost-to-sales ratio improvement at the plant division. Ongoing cost-to-sales ratio improvement is anticipated at the plant division on the full-fledged
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com -- Ed.We boost our 2026 capacity estimate for Samsung SDI by 15% to reflect a 33GWh (46pi 16GWh + prismatic 17GWh) JV with GM. We expect annual OP to hit W6tn (AMPC W1.8tn) in 2026.Outward expansion unfol
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.LS ELECTRIC’s 1Q23 results far exceeded consensus, thanks to improved profitability at domestic and overseas subsidiaries. Sound earnings should continue through 1H23 on the back of a robust order
The author is an analyst of NH Investment & Securities. He can be reached at esshim@nhqv.com -- Ed.As a B2B SaaS company, BusinessOn started by offering electronic tax invoice solutions and now covers almost all business activities. Backed by the client network for its Smartbill service, the firm is
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.Samsung Engineering’s 1Q23 earnings far exceeded consensus, thanks to an improved COGS-to-sales ratio at the non-hydrocarbon division. Although the lack of new orders for overseas projects is somew
LG Chem said that it will consider acquiring all of its Chinese partner’s shares in its joint venture if the joint venture is included in the list of foreign entities of concern (FEOCs) under the U.S. Inflation Reduction Act (IRA). This marked the first time a battery maker with joint ventures with
Coway, the "Best Life Solution Company," announced today that it has won 3 awards in the Product category at the International Forum (iF) Design Award, marking the company's 16th consecutive year of winning this prestigious award.The iF Design Award, founded in 1953 as Die Gute Industrieform e.V
Samsung Electronics’ decision to ramp up its investment this year despite a four trillion won deficit in the semiconductor sector is a sign that the Korean semiconductor giant is proactively preparing for an upturn in the market as the semiconductor industry will bottom out.Samsung Electronics’ firs
Hyundai Motor outperformed the other three major Korean companies -- Samsung Electronics, SK Hynix and LG Electronics -- in the United States in 2022.The Korea CXO Institute, which specializes in analyzing companies, released the results of a survey on the performances of the U.S. subsidiaries of th
Doosan Enerbility has solidified its position as a global SMR foundry in the United States, a leading market for small modular reactors (SMRs).On April 25 (local time), Doosan Enerbility’s executives met with the CEOs of NuScale Power and X-energy in Washington, D.C., to discuss future business coop
The world has a plastic problem. This was the clear realization that drove Konrad Becker and his three co-founders in 2021 to establish Would You Love (WYL), a Seoul-based startup with a mission to make the world more sustainable. Motivated by reports that Korea was responsible for some of the world
President Yoon Suk-yeol, who is on a state visit to the United States, worked to convince Tesla CEO Elon Musk to build a factory in South Korea on April 26 (local time).The Korean government clarified its position that it will consider giving Tesla cash support of up to 50 percent of its investment
South Korean President Yoon Suk-yeol and U.S. President Joe Biden said they will continue consultations to ease concerns about discrimination against South Korean companies in subsidies and trade secret leaks under the U.S. Inflation Reduction Act (IRA) and the CHIPS Act. However, they only confirme
Korea Hydro & Nuclear Power (KHNP) will seek to stabilize the supply chain of uranium, a key fuel for nuclear power plants (NPPs), with the United States. In particular, it will build a supply chain for high-assay low-enriched uranium (HALEU) which holds the key to the commercialization of small mod
Korea Trade Insurance Corporation (K-SURE) announced today (Nov. 26) that it signed a memorandum of understanding with the World Bank’s Multilateral Investment Guarantee Agency (MIGA) in Washington, D.C., for financial support cooperation.The agreement is part of the Korea-US High-Tech Industry Clea
We raise our TP on Hanmi Pharm to W430,000. In 1Q23, both consolidated and non-consolidated earnings surpassed consensus, hitting record quarterly figures. Moving ahead, COGS-to-sales ratio should continue to improve thanks to increased sales of Rolontis and other products. We also draw attention to
Hanwha Group has cleared the final hurdle to take over Daewoo Shipbuilding & Marine Engineering (DSME). It has been 15 years since Hanwha first attempted to acquire the Korean shipbuilder in 2008.The Korea Fair Trade Commission (KFTC) announced on April 27 that it has approved the merger in which fi
The author is an analyst of Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP reported at KRW2.9tr (+79% YoY, +9% QoQ), OPM at 12%Kia posted operating profit of KRW2.9tr (+79% YoY, +9% QoQ) on sales of KRW23.7tr (+29% YoY, +2% QoQ) for 1Q23, beating the consensus estimate o