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
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.We lower our TP on KT&G to W110,000 to reflect adjustments to our earnings estimates. However, considering the chances of expanded shareholder return policy, we view KT&G as an attractive defensive play
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com -- Ed.Tongyang Life’s accounting profit is expected to increase after the transition to IFRS17. However, any improvement is likely to be limited compared to that of competitors.Adjust discount rate to reflec
Samsung Display will supply state-of-the-art organic light emitting diode (OLED) panels to supercar brand Ferrari.Samsung Display announced that it signed a memorandum of understanding (MOU) with Ferrari at the Asan Campus on April 11 to develop display solutions to be loaded into Ferrari’s next-gen
“We will increase Korea’s electric vehicle production capacities five times by 2030 to grow Korea into one of the top three global future car powerhouses,” President Yoon Suk-yeol emphasized on April 11. Hyundai Motor Group also announced its strong will to seize the hegemony of the electric vehicle
Korea Hydro & Nuclear Power (KHNP) and the British Embassy in Korea announced on April 11 that they have signed a net zero partnership MOU on carbon neutral cooperation such as to create a clean hydrogen ecosystem.British Secretary of State for Energy Security and Net Zero Grant Shapps, visiting Kor
The author is an analyst of Shinhan Securities. He can be reached at jinmyung.lee93@shinhan.com -- Ed.1Q23 operating profit to fall short at KRW145bnSK Innovation is expected to have recorded operating profit of KRW145bn (positive swing QoQ) in 1Q23, missing the market consensus of KRW341.7bn. The r
The author is an analyst of Shinhan Securities. He can be reached at krpark@shinhan.com -- Ed.1Q OP likely short at consolidated KRW155bn, standalone KRW163bnWe now expect Korea Zinc to report operating profit of KRW154.6bn (+46.6% QoQ) on a consolidated basis and KRW162.8bn (+4.2% QoQ) on a standal