Hyosung Group vice chairman Lee Sang-woon announced on Aug. 19 the group’s plan to foster the hydrogen industry as one of Hyosung's new growth drivers.Hyundai Motor Group has been in the vanguard of the hydrogen business among the nation's large conglomerates, and GS, Doosan and Hyosung have
Minister of Trade, Industry and Energy Sung Yun-mo had video meetings with Czech Industry and Trade Minister Karel Havlíček and the republic’s envoy for nuclear energy Jaroslav Mil on Aug. 19 and 20. Their discussions covered bilateral cooperation in various fields such as industry, technology and e
POSCO announced on Aug. 20 that it has succeeded in developing and mass-producing eco-friendly graphite free cutting steel named PosGRAM (GRAphitic steel for Machinability) for the first time in the world.POSCO’s PosGRAM is expected to enhance the national industrial competitiveness, as it is to rep
Vice Minister of Trade, Industry and Energy Chung Seung-il attended the 2020 Energy Strategy Forum on Aug. 19 and remarked that the South Korean government would invest a total of 586.6 billion won next year in order to assist in hydrogen vehicle R&D and popularization, hydrogen production and suppl
Korean automobile exports fell by a double-digit figure in July as the COVID-19 impact continued. Production decline slowed down as domestic demand for vehicles grew for the fifth straight month in July. Of note is that exports of electric vehicles doubled.According to the Ministry of Trade, Industr
Samsung Display's position is weakening due to Chinese companies' LCD price war and increased investment in small and medium-sized OLEDs. Although Samsung Display announced that it will invest 13.1 trillion won to develop quantum dot (QD) displays by 2025 and widen its gap with followers, it
The author is an analyst of NH Investment & Securities. He can be reached at will.byun@nhqv.com. -- Ed. China’s Baosteel has raised the September domestic ex-factory price for HR products by RMB200/ton, citing iron ore price hikes and expectations for demand recovery from downstream industries as ju
The authors are analysts of Shinhan Investment Corp. They can be reached at doyeon@shinhan.com and sungjun.na@shinhan.com, respectively. -- Ed. 2Q20 operating profit better than expected at KRW77.1bn (+56.4% YoY)DB HiTek posted record-high earnings for 2Q20. Operating profit came in at KRW77.1bn (+5
The authors are analysts of Shinhan Investment Corp. They can be reached at yjjung86@shinhan.com and ik.jung@shinhan.com, respectively. -- Ed. 2Q20 OP of KRW14.5bn (-16.6%YoY) slightly above consensusIljin Materials posted operating profit of KRW14.5bn (-16.6% YoY) on sales of KRW135.2bn (-11.2% YoY
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Pulmuone’s 2Q20 OP rose 37% y-y in 2Q20, meeting consensus. Operating income at overseas subsidiaries turned to the black, boosting expectations towards future overseas performance. With the firm’s bu
LG Chem's battery business accounted for 37.2 percent of the company’s total sales of 13.664 trillion won in the first half of 2020, LG Chem said on Aug. 17.The battery division’s share in the company’s sales stood at 30.8 percent in 2019, surpassing the 30 percent mark for the first time. This
Samsung Electronics will produce IBM’s CPUs for next-generation servers using its cutting-edge EUV-based 7-nanometer process.IBM took the wraps off the CPU Power 10 for next-generation servers on Aug. 17 (local time). The new CPU combines IBM's advanced design technology with Samsung Electronics
Korea’s exports of electric vehicles (EVs) in the first half of 2020 nearly doubled compared to 2019. During the same period, hybrid EVs (HEVs) exports sank. Although sales of finished cars plunged due to the worldwide spread of COVID-19, EV sales rose on the back of support for eco-friendly vehicle
The authors are analysts of Shinhan Investment Corp. They can be reached at johnsoh@shinhan.com and chank@shinhan.com, respectively. -- Ed. 2Q20 review: Earnings surprise at OP of KRW7.8bn (+13.4% QoQ)Duk San Neolux delivered an earnings surprise for 2Q20. Operating profit came in at KRW7.8bn (+13.4
The author is an analyst of NH Investment & Securities. He can be reached at hyundong.lee@nhqv.com. -- Ed. Backed by the start of delivery of second-gen OLED FMM cleaning equipment to Chinese customers, Device ENG showed its strongest-ever earnings in 2Q20. We expect that increased new orders stemmi
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Cosmax posted a 2Q20 earnings surprise, with OP surging 99% y-y and surpassing consensus by 34%. The growth should sustain in 2H20 on product and client diversification.Growth to continue via product
About 200 employees of Samsung Display will be transferred to Samsung Electronics' semiconductor business division (DS Division)."We are currently moving employees who want to be transferred, taking into account demand for human resources at the two companies," a Samsung Display official said on
SK Bioscience announced on Aug. 13 that it signed a contract development manufacturing organization (CDMO) contract with Novavax. According to the contract, Novavax will transfer its antigen production technology for its COVID-19 vaccine candidate NVX-CoV2373 to SK Bioscience, which will develop add
The author is an analyst of NH Investment & Securities. He can be reached at hyundong.lee@nhqv.com. -- Ed. Backed by the government’s increased budget for fine dust reduction, E&D’s environmental business earnings are picking up. With funds raised via public offering likely to be directed towards fa
The international division of labor in the electronics and information and communications technology (ICT) sectors is cracking as U.S.-China disputes are becoming more and more intense. With the two superpowers raising their barriers by making astronomical investments, South Korean companies are bei