Dongkook Pharmaceutical surpassed 500 billion won in sales for the first time in 2020. Both sales and operating profit enjoyed double-digit growth thanks to an increase in exports and the growth of its healthcare business.Dongkook Pharmaceutical announced on Feb. 23 that it racked up 559.1 billion w
Daesang announced on Feb. 17 that it will increase sales in Indonesia by 1 trillion won within the next 10 years.Daesang’s sales in Indonesia reached 369.7 billion won in 2020, up 7 percent from 346.4 billion won in 2020. Daesang presented a blueprint for each of its business sectors to attain 1.4 t
The author is an analyst of KB Securities. She can be reached at shinay.park@kbfg.com. -- Ed. Department store/duty-free earnings to improve; maintain BUY and lift target price to KRW350,000 We maintain BUY on Shinsegae and lift our TP by 6% to KRW350,000. We slightly lowered 2021E/2022E OP by 2%/4%
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. CJCJ has been focusing on environment friendly management, especially securing a new growth engine via PHA-based biodegradable plastics. A positive external environment—including stricter rules on pla
The author is an analyst of NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com. -- Ed. Solu-M’s ESL business is to become a mid/long-term growth driver as the associated market begins to blossom in earnest. At the power division (its main business), solid earnings growth is ev
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
Samsung Electronics is embroiled in a series of lawsuits for alleged infringement of patents for smart home IoT technologies in the United States.Stingray IP Solutions based in Texas filed two patent infringement suits against Samsung Electronics with the Eastern District Court of Texas on Jan. 29 (
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY; raise target price to KRW200,000 We maintain BUY on LGE and raise our 12m TP to KRW200,000 to reflect an increase in 3y avg. ROE (11.6% → 14.0%) triggered by upward revisions to 2021E/2022E/2023E
Incheon City, the third-largest in South Korea, is emerging as a global city. The following is Business Korea’s recent interview with Incheon Mayor Park Nam-chun, who became the seventh mayor in July 2018 in the city where he was born. – Ed. COVID-19 is still ongoing. How is the city dealing with th
Deputy Prime Minister Hong Nam-ki announced on Jan. 26 that the supply of 20 key industrial materials, components and equipment would be completely stabilized this year with regard to Japan’s export restrictions against South Korea.“The government achieved the stable supply for three items last year
The author is an analyst of Shinhan Investment Corp. He can be reached at sh.kim@shinhan.com. -- Ed. Further changes in governance structure neededIn the past, SK Group was controlled by Chairman Chey Tae-won through his ownership in SK C&C, which in turn held the controlling stake in SK Holdings, t
SK Holdings, the holding company of SK Group, is pushing for joint investment in eco-friendly automobile infrastructure with Geely Auto Group, China's largest automaker.The exact size of the planned joint investment is under wraps, but it is said to be around hundreds of billions of won. Global
Mirae Asset Global Investments announced on Jan. 22 that the net assets of the Mirae Asset Global BBIG ETFs topped 10 trillion won. The exchange-traded funds provided by Mirae Asset Financial Group are available in South Korea, the United States and Hong Kong.The funds are to invest in the battery,
Samsung Group’s new projects have come to a halt with Samsung Electronics vice chairman Lee Jae-yong sentenced to imprisonment. Investment and M&A decisions are unlikely to be made in the absence of the head.Business activity reports are currently impossible, too. This is because he is in solitary c
SK Holdings is currently seeking to acquire a promising biotech contract manufacturing organization (CMO) company in France.SK Holdings’ biotech and pharmaceutical business has been led by two companies –- SK Biopharm, a subsidiary in charge of developing new drugs, and SK Pharmteco in charge of the
The aggregate value of KOSPI increased approximately 600 trillion won year on year as of Jan. 19 this year. The ratio of the value to South Korea’s nominal GDP rose from 79 percent to 111 percent in that period. The 32 percentage point increase is more than 10 times South Korea’s nominal GDP growth
Lotte Group, the fifth-largest conglomerate in South Korea, is in a crisis. It is yet to find a breakthrough although chairman Shin Dong-bin is focusing on innovation. Meanwhile, the larger four, that is, Samsung, Hyundai Motor, SK and LG are turning opportunities into reality despite COVID-19.The c
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. Along with its 4Q20 results, TSMC’s 2021 investment plan significantly exceeded market expectations. We expect the global non-memory semiconductor equipment industry to benefit.TSMC forecasts 2021 cap
The author is an analyst of NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com. -- Ed. Rising 3-in-1 board adoption by Solu-M’s main client should drive earnings growth at the power division. The firm has secured mid/long-term growth engines in the expanding global ESL market
The Korea Biotechnology Industry Organization said on Jan. 12 that Korea’s exports of biotech and health products surged by over 50 percent on year in 2020 despite COVID-19.Korea's exports in the bio-health sector amounted to 15.25 trillion won (US$14.1 billion) in 2020, according to the 2020 Ex