Hyundai Engineering & Construction (Hyundai E&C) has secured a contract to construct a high voltage direct current (HVDC) transmission line in Saudi Arabia.According to Hyundai E&C on Aug. 1, the company has signed a contract for the “Saudi Neom-Yanbu 525kV HVDC Transmission Line Construction Projec
The author is an analyst for NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.Backed by an accelerated digital transformation, mid/long-term growth prospects at Hyundai Autoever’s strategic businesses remain valid. The firm is beefing up: 1) its smart mobility capabilitie
Chinese battery companies have been pushing to establish factories in South Korea one after another. It is a strategy to circumvent regulations under the U.S. government’s Inflation Reduction Act (IRA), analysts say. It is expected that the companies will try to enter the U.S. and European markets b
Samsung Chairman Lee Jae-yong ambitiously invested 9 trillion won (approximately US$8 billion at the time) in the company Harman, and after a span of about six years Harman has now firmly established itself as a robust and integral part of Samsung Electronics’ business portfolio.In Samsung Electroni
HD Korea Shipbuilding & Offshore Engineering, the mid-level holding company of Hyundai, has announced that it will acquire STX Heavy Industries.On July 31, HD Korea Shipbuilding & Marine Engineering signed a principal contract with private equity firm PINETREE Partners to acquire STX Heavy Industrie
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Despite increases in parts and finished vehicle volume amid improving downstream industry conditions, Hyundai Glovis has been unable to capitalize upon high freight rates due to its reduced operating
South Korea’s total population stood at 51,692.000 as of July 1 2022, down 46,000, or 0.1 percent, from 2021, according to the results of the 2022 Population and Housing Census released by Statistics Korea on July 27.The total population of the census includes foreigners who have been living in Kore
The Trax Crossover and Trailblazer from Chevrolet were first and second respectively among Korea's vehicle exports in June.According to "Automotive Industry Trends in June 2023" released on July 28 by the Korea Automobile & Mobility Association (KAMA), the Trax Crossover sold 24,359 units overse
The newly appointed CEO, Lee Hak-jae, is set to propel Incheon International Airport’s logistics services into a new era. His leadership promises to infuse fresh vitality into the airport’s logistics operations and fulfill his vision of establishing Incheon as a global logistics hub.Born in 1964, Pr
The Financial Supervisory Service (FSS) has responded to the complex issue surrounding the accounting treatment of Contractual Service Margins (CSM), which is considered a future revenue indicator under the new insurance accounting standard, IFRS 17. Given the initial apprehensions about potential e
Hanwha Aerospace has achieved the remarkable feat of supplying 129 Redback armored vehicles to the Australian Army.Hanwha Aerospace announced on July 27 that its Redback armored vehicle has been selected as the preferred model of Infantry Fighting Vehicle (IFV) in the “Land 400 Phase 3 Project,” whi
Petroleum product exports by Korea’s four major oil refiners increased for the second consecutive year in the first half of 2023.The Korea Petroleum Association reported that petroleum product exports from the country’s four largest refiners (SK Energy, GS Caltex, S-OIL, and HD Hyundai Oilbank) tota
Hyundai Rotem is accelerating its moves to receive railway vehicle orders with the export of its K2 tank. In the first half of this year, the company received the largest-ever amount (worth 3 trillion won) of orders including an order for railway trains for Australia. In Korea, it will make the firs
The export status to Australia of Hanwha Aerospace’s Infantry Fighting Vehicle (IFV), the Redback, is expected to be announced within a few days. When it was tendered in 2018, the project’s scale was 450 armored vehicles (approximately 16 to 24 trillion won), but due to the change of the Australian
Korea National Railway announced on July 26 that it had signed a memorandum of understanding (MOU) with Kyrgyz Railways for cooperation between the two entities, including a signal modernization project at Balykchy Station.Through this MOU, the two organizations will establish and operate a working
KEPCO KPS announced that it signed an extension contract for the “Punta del Tigre Combined Cycle Power Plant Operation and Maintenance (O&M) Project” with the Uruguayan Electricity Authority (UTE) on July 26 (Korean Time). The agreement is expected to generate more than 50 billion won in sales over
Elements Europe, a subsidiary of GS E&C, has completed its contract for the UK’s largest modular rental housing project.Elements Europe announced on July 26 that it won the Camp Hill project, which constructs rental housing and commercial facilities using a steel module method in Birmingham, U.K. Th
SK Inc. announced that its board of directors (BOD) held a meeting on July 26, in which the board declared to distribute an interim dividend of KRW 1,500 per share, matching last year’s payout. The total interim dividend payout amounts to approximately KRW 83.6 billion. SK Inc. has been distributing
Twelve executives, including the CEO of Saudi Arabia’s Neom, visited Seoul on the occasion of the Neom City exhibition, the first of its kind in Asia.Holding a media conference on July 25, the day before the opening of the Neom exhibition at Dongdaemun Design Plaza (DDP) in Seoul, the executives emp
The author is an analyst for NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com -- Ed.While we raise our TP to W560,000 on a change in valuation method, we downgrade our rating to Hold considering restricted upside potential.Valuation method changed to reflect rise in mid/long-term