The Korea Electric Power Corp. (KEPCO) announced that it has won the 2022 Deal of the Year from the Project Finance International, a global financial magazine, for its successful financing of an UAE submarine transmission network project.An award ceremony was held in London, the United Kingdom, on F
ST Pharm, a subsidiary of Dong-A Socio Group, announced on Feb. 23 that it signed an agreement with Multiverse Pharma in the United States for joint research on new antibody-encoding (AER) platform technology and biobetter mRNA drugs.Under the agreement, ST Pharm and Multiverse Pharma will develop f
Huawei Korea announced that it will support the global service expansion of Epic Seven, a mobile role playing game (RPG) from Smilegate Megaport, a Korean game company.Their collaboration led to the official launch of Epic Seven on Huawei’s application platform Huawei AppGallery on Feb. 22, enabling
The author is an analyst of KB Securities. He can be reached at kimtaehee@kbfg.com. -- Ed.Maintain BUY; trim target price (KRW72,000→KRW70,000) We trim our TP (KRW72,000→KRW70,000) on Yuhan to reflect changes to 2023 ERP (5.41%), RFR (3.32%) and earnings estimates following the 4Q22 earnings release
The author is an analyst of KB Securities. He can be reached at cm.lee@kbfg.com. -- Ed. Maintain BUY, TP of KRW370,000 We maintain BUY and TP of KRW370,000 for L&F. Derived using the DCF model assuming 9.29% WACC (9.67% COE, 5.63% after-tax COD, 1.12 60m adj. beta), our TP implies 39.6x 12m fwd P/E
George Mason University Korea (Mason Korea) announced on Feb. 22 that it held a New Student Convocation ceremony for Spring 2023 freshmen and new students at the Incheon Global Campus Auditorium.The convocation ceremony was held without masks for the first time in three years with the easing of Kore
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. TP raised 23% to KRW160,000 We maintain BUY on LGE and raise our 12m target price by 23% to KRW160,000 (1.2x 12m fwd P/B). LGE, which ranks third in the world in terms of communication technology patents held,
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Raise target price from KRW170,000 to KRW230,000; maintain BUY We raise our TP by 35.3% from KRW170,000 to KRW230,000 and maintain BUY on HYBE. We revise up 2023E/2024E OP by 12.2%/13.7% to reflect the compan
Samsung Electronics is investing aggressively in India. The Korean tech giant has decided to produce its next-generation foldable smartphones in India to make it a key smartphone production base.Samsung Electronics has produced mid- and low-priced smartphones in India. As India emerges as the center
LG Display has begun to upgrade its business structure by focusing on displays for vehicles.According to Hi Investment & Securities on Feb. 22, LG Display's vehicle display sales are expected to more than double from 1.6 trillion won in 2022 to 3.5 trillion won in 2025. Its automotive display or
The Export-Import Bank of Korea (Korea Eximbank) has dismissed the rumor that the state-run bank would sell off Korea Aerospace Industries (KAI) to Hanwha Group."We have no plan to sell off KAI,” said Yoon Hee-sung, chairman and president of Korea Eximbank. “There is no need to sell KAI, either.”Yoo
South Korea’s net external financial assets hit an all-time high of US$746.6 billion last year. This is because external financial liabilities, that is, foreign investment in South Korea decreased more than external financial assets, that is, overseas investment from South Korea.To be specific, the
South Korean automakers and auto parts manufacturers are increasing their facilities in the United States and reducing those in South Korea at the same time. The domestic automotive industry, which is already decreasing in size by going electric, is likely to shrink at an increasing pace.DIC, a Hyun
Joby Aviation, an American air taxi company that ranks first in the global urban air mobility (UAM) industry, will fly its UAM aircraft over Korea to participate in the Korean UAM Demonstration Project, which is promoted by the Ministry of Land, Infrastructure and Transport.Joby Aviation received a
Hanwha Aerospace announced on Feb. 22 that it has invested a total of US$17.8 million in Fortem Technologies together with Lockheed Martin of the United States through a simple agreement for future equity (SAFE).A SAFE is an agreement between an investor and a company where the investor provides a c
Hyundai Rotem is close to winning a multi-trillion-won motor car project in Australia. A consortium led by Hyundai Rotem and Downer, an Australian transportation company, was selected in early February as the preferred bidder for a railway project promoted by the Queensland government in Australia.T
Doosan Enerability announced on Feb. 22 that it will showcase its technologies at PowerGen International (PGI) 2023 to be held in Orlando, the United States.PGI is the world’s largest energy and power generation exhibition, held annually in the United States. This year, it will run at the Orange Cou
Korea Water Resources Corp. (K-water) has nabbed the Best Green Bond Award in the sustainable capital category at The Asset Triple A Awards 2022, which was hosted by The Asset, a global financial magazine based in Hong Kong.The awards program selects financial institutions or financial transactions
The Japanese government implemented export restrictions against South Korea in July 2019 and South Korea has taken measures since then in order to rely less on industrial materials, components and equipment imported from Japan. It has been found that the dependence is still high nonetheless. Besides
Financial Supervisory Service Governor Lee Bok-hyun met with foreign investors in Seoul on Feb. 22 and remarked that the agency is examining various ways to diversify South Korean banks’ business structures and enhance their competitiveness.“Banks are quasi-public institutions and yet it has been po