The authors are analysts of Shinhan Investment Corp. They can be reached at kimkyuri@shinhan.com and changmin.yoon86@shinhan.com, respectively. -- Ed. 4Q20 OP exceeds consensus at KRW13.7bn (+26% YoY)Insun ENT reported sales of KRW62bn (+26% YoY) for4Q20, exceeding the market consensus of KRW54.8bn.
The author is an analyst of NH Investment & Securities. He can be reached at hyundong.lee@nhqv.com. -- Ed. With NEW having turned to profit on a non-consolidated basis in 2020, concerns over the firm’s possible inclusion on the Kosdaq’s official watch list have eased. In 2021, earnings growth is to
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Dongwon F&B’s consolidated OP climbed 17% y-y 4Q20, topping consensus by 19% despite unfavorable business conditions. A planned split-off for the firm’s online business is to provide a boost to sales
South Korea and Cambodia concluded a free trade agreement on Feb. 3 after six months of negotiations.Cambodian Commerce Minister Pan Sorasak and South Korean Trade Minister Yoo Myung-hee declared the conclusion and signed their joint statement on Feb. 3. The two governments initiated their negotiati
Incheon Free Economic Zone (IFEZ) Authority announced on Feb. 2 that it has established a comprehensive plan to attract US$600 million in foreign direct investment (FDI) in 2021.In order to attain its goal, IFEZ Authority has set up three major strategies and 15 tasks. The three major strategies are
The author is an analyst of Shinhan Investment Corp. He can be reached at eoyeon.hwang@shinhan.com. -- Ed. Initiate coverage with BUY for a target price of KRW17,000HMM, founded in 1976, provides comprehensive shipping and logistics services. In 2016, hit by a prolonged downturn of the shipping indu
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. In the domestic cement industry, we expect cost savings from increased demand for cement, price hikes, and investment in alternative fuel-based facilities to appear one by one from 2021. Expectin
The author is an analyst of NH Investment & Securities. She can be reached at michelle.cho@nhqv.com. -- Ed. As a comprehensive electronic payment player offering easy cash payment and virtual account/firm banking services, Settlebank boasts a dominant position in the fintech arena. Accordingly, the
The author is an analyst of NH Investment & Securities. She can be reached at michelle.cho@nhqv.com. -- Ed. NHN KCP is garnering attention amid the payment service paradigm shift induced by Covid-19, as its PG and online VAN businesses are benefiting and its business portfolio is diversifying to inc
Lime, the world’s leading operator of shared electric vehicles, announced on Jan. 28 that it will add electric mopeds to its growing platform of e-bikes and e-scooters. Lime’s e-mopeds will enable riders to make any urban trip under five miles with safe, affordable and sustainable light electric veh
The author is an analyst of KB Securities. He can be reached at hdsung@kbfg.com. -- Ed. Company summary Pan Entertainment, which was listed on the KOSDAQ in 2006, is a comprehensive media company that has produced many popular K-dramas, including Winter Sonata (2002) Moon Embracing the Sun (2012), K
The author is an analyst of KB Securities. He can be reached at goun.whang@kbfg.com. -- Ed. Raise TP 33% to KRW400,000 We maintain BUY on SK materials as we raise our TP 33% to KRW400,000. We made only limited revisions to our earnings forecast and our COE assumption increased from 6.87% to 8.44% af
LG CNS has recently discussed comprehensive cooperation with the People's Committee of Dong Nai Province in Vietnam, including the establishment of smart cities.The committee expressed a big interest in LG CNS's smart city project and requested its investment in Dong Nai, a province in the S
Hyundai Glovis is seeking to establish a complex logistics center in Ho Chi Minh City, Vietnam's largest city.The company said on Jan. 14 that it has signed a memorandum of understanding with Ulsan Port Authority to promote the project.Under the agreement, the two companies will build a complex
The South Korean government has officially declared that it would join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This year, it will adjust domestic systems related to sanitary measures, fisheries subsidies, digital trade and state-run corporations in accordan
At present, South Korea is in a total of 17 free trade agreements (FTAs) with 56 countries, including the South Korea-U.K. FTA that took effect on Jan. 1. In 2019, South Korea’s trade with the 56 states accounted for approximately 70 percent of its total international trade. The ratio is expected to
Technology exports by Korean pharmaceutical and biotech companies reached 11.8 trillion won in 2020, up 39 percent from 8.5 trillion won in 2019.This year, 10 companies concluded 15 technology export deals. Compared to 2019, the number of companies dropped by two, but the number of contracts increas
LG Energy Solutions (previously LG Chem's Battery Business Division) has inked an agreement with Chilean lithium producer SQM for a stable supply of lithium for eight years.The deal followed a comprehensive business agreement on nickel mining projects the company signed with the Indonesian gover
Hyosung Advanced Materials has made this year’s climate change A List announced by Carbon Disclosure Project (CDP), a not-for-profit charity in the United Kingdom that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.CDP mea
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. In 2021, we expect SK Materials’ product portfolio to go beyond semicon materials to include OLED materials. A likely improvement in memory supply-demand conditions from early 2021 and SK Hynix’s acqu