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
POSCO International announced that it has signed a production distribution contract with the Indonesian government and its state-run oil firm Pertamina Hulu Energi (PHE) in a move to secure the share of oil produced from the Bunga Gas Block. The signing event was held at Tangerang, Indonesia, on Jul
One Team Korea will dispatch a reconstruction cooperation delegation to Ukraine by the end of August.According to the Korean Ministry of Land, Infrastructure, and Transport (MOLIT) on July 24, the Korean government recently assembled a reconstruction cooperation team with government officials and th
HK inno.N Corp. announced on July 24 that its new drug for gastroesophageal reflux disease, K-CAB (active ingredient: Tegoprazan), has been granted product approval by Peru's National Medicines Authority (DIGEMID) on July 21.In 2018, the company inked a contract with “Laboratorios Carnot,” a lea
Kwangdong Pharmaceutical announced on July 24 that it has signed an exclusive domestic sales and distribution contract with Italy’s rare disease drug specialist Chiesi.As a result, Kwangdong Pharmaceutical now holds the exclusive domestic sales and distribution rights for three of Chiesi’s rare dise
The era of methanol ships has officially begun with the voyage of the world’s first methanol propulsion ship, built by a Korean shipbuilder. Following HD Korea Shipbuilding & Offshore Engineering, which leads in technology having secured the most methanol ship orders globally, Samsung Heavy Industri