South Korean President Yoon Suk-yeol visited Kia’s EV plant in Hwaseong on April 11. The next day, the government announced that a tax credit of 35 percent would be provided for EV-only plants as well as semiconductor manufacturing facilities in South Korea.“We are revising the Act on Restriction of
The Nikkei reported on April 12 that Russia’s semiconductor imports totaled more than US$1.07 billion after the outbreak of the war in Ukraine, approximately 290 percent of its pre-war semiconductor imports. Imports from the United States accounted for about 70 percent of the imports and the imports
Bizmodeline is claiming that Apple Pay infringed upon its patent. It is an intellectual property company that owned more than 1,500 patents at the end of last year.According to the company, the payment method of Apple Pay infringes upon its patent applied for in 2005. According to the patent, a user
Renault Korea announced on April 12 that its operating profit was 184.8 billion won (US$140 million) last year after losing 8.1 billion won (US$6.2 million) in 2021. The company’s sales increased 25.96 percent to 4.862 trillion won (US$2.706 billion) in 2022.Likewise, GM Korea turned black last year
Korea Chamber of Commerce and Industry Chairman Chey Tae-won stressed the importance of economic cooperation with Portugal at the Korean-Portuguese Business Forum in Seoul on April 12.“Portugal is highly business-friendly, very important geographically, and home to the largest lithium reserves in Eu
Amidst the ongoing slump in the semiconductor industry, Samsung Electronics and LG Electronics are expanding their overseas automotive electronics markets by selecting the automotive electronics business as their new growth driver.According to foreign media outlets and industry sources on April 12,
Samsung Electronics supplied a large number of smart signage devices and hotel TVs to Atlantis the Royal, a luxurious hotel and resort in Dubai, the United Arab Emirates.Atlantis the Royal, located on Palm Jumeirah, an artificial island just off the coast of Dubai, has a unique appearance like a set
POSCO Group and Japanese automaker Honda will join hands in the electric vehicle (EV) business. Their cooperation will range from procurement of anode and cathode materials for batteries to battery recycling.POSCO Group Chairman Choi Jung-woo and Honda President Toshihiro Mibe signed a comprehensive
Mirae Asset Global Investments announced on April 12 that it has appointed Rohit Mehta as new Chief Executive Officer (CEO) of its Canadian ETF management subsidiary, Horizons ETFs.Mehta is a financial professional with more than 20 years of experience in the Canadian asset management industry inclu
National Assemblyman Seo Il-joon of the People Power Party called for an immediate investigation into an alleged KDDX defense mafia case during the Moon Jae-in administration, citing the recent confirmation of the conviction of nine HD Hyundai employees who secretly stole military and trade secrets
The author is an analyst of Shinhan Securities. She can be reached at hpark@shinhan.com -- Ed.1Q OP results to fall short but China earnings on a recovery pathWe now expect Cosmax to post consolidated operating profit of KRW 11bn (- 20% YoY) on sales of KRW401.7bn (+1% YoY) for 1Q23, missing the con
The author is an analyst of Shinhan Securities. She can be reached at inhae.ji@shinhan.com -- Ed.Paid subscribers growing at a fast rateDearU Bubble, the global fan community platform operated by Dear U, is seeing rapid growth in the number of paid subscribers. The figure increased 26% QoQ from 1.7m
The author is an analyst of Shinhan Securities. He can be reached at sanghoonpure.cho@shinhan.com -- Ed.1Q23 OP likely to miss consensus at KRW298.3bn (-31.5% YoY)We now expect CJ CheilJedang to post operating profit of KRW298.3bn (- 31.5% YoY) on sales of KRW7.18tr (+2.8% YoY) for 1Q23, missing the
On April 10th, George Mason University Korea (Mason Korea) held an opening ceremony for the spring 2023 semester of the Global Campus program for the Incheon Citizen Life College.The opening ceremony took place at the Global Lounge of Mason Korea and was graced by the presence of 14 internal and ext
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com -- Ed.We lower our TP on ContentreeJoongAng to W33,000 in light of repeated delivery gaps and a slow recovery in cinema demand. The firm’s 1Q23 release will likely show another quarterly earnings disappoin
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com -- Ed.Moving ahead, SKC is set to benefit production mix improvement (following the operation of its Malaysian plant), new customer acquisition, and concrete plans for capacity expansion in North America.
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.While the recovery in China-bound commodity demand is weak, rising second-hand ship prices provide a clear indication that supply/demand will improve in the mid/long term, amid strengthening environme
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.Despite the recession, Youngone is forecast to report solid 1Q23 earnings, as it retains a number of trend-matching brands. With the shares trading at a 2023E P/E of only 4.8x, we recommend buying th
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.SK Inc is expected to maintain solid fundamentals as a ‘professional value investor’ by reinforcing new growth portfolios centered upon four major businesses and by strengthening shareholder valu
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.We lower our TP for HiteJinro on a reduction to our earnings estimates to reflect both a rise in malt prices and cost increase stemming from the launch of a new product. However, a share price rebound i