The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed. Acquisition of 54.9% stake in Jin Air positive— Korean Air has decided to purchase a 54.9% stake in Jin Air from its parent Hanjin KAL. While the lofty price tag (at a premium to recent closing price) and
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. Freight rates are continuing to hold strong, and passenger load factor is now expected to recover in earnest from 2Q22. On the non-operating side, KAL’s situation has improved significantly on a decl
The Financial Services Commission (FSC) announced on April 13 that it has designated MG Non-Life Insurance as an insolvent financial institution.“As of the end of February, MG Non-Life Insurance’s debt exceeded its assets by 113.9 billion won, meeting the criteria for an insolvent financial institut
In its work report to the Presidential Transition Committee on March 29, the Ministry of Justice said it would establish a monitoring system to eradicate illegal naked short selling, introduce stricter punishments on illegal short sellers, and make capital market regulations more practical and effec
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. The earnings outlook for 1Q22 is favorable thanks to strong freight rates. Also, we note that passenger demand is recovering and fares remain high. Starting from 4Q22, profit leverage effects at the
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. Passenger demand in February recovered within a limited range. Cargo volume growth was affected by low seasonality. Concerns are rising that oil price upsurge could lead to fuel cost increase and wea
The Financial Services Commission (FSC) has decided to slap a fine of 155 million won on Samsung Life Insurance for violating the Insurance Business Act.In the past, Samsung Life Insurance refused to pay for cancer hospitalization insurance uniformly, arguing that cancer patients' admission to a
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. Although international passenger traffic showed a solid rebound in November, demand is likely to wane in December. Despite easing worries towards a new Covid-19 variant, a delay in passenger demand r
LG Energy Solution, a battery business subsidiary of LG Chem, has estimated its market capitalization at up to 112 trillion won in a securities report presented to the Financial Services Commission (FSC) on Dec. 7 for the planned initial public offering (IPO). The company compared itself with China’
Financial Services Commission Chairman Koh Seung-beom remarked again that the short selling ban in the South Korean stock market needs to be lifted. “The current partial ban needs to be lifted in the end, and we are seeking the best timing and method,” he said.Koh made the remark as the South Korean
LG Energy Solution has received preliminary approval for listing on the Korean stock market, the Korea Exchange said on Nov. 30.LG Energy Solution is a secondary battery manufacturer established in December 2020. LG Chem holds a 100 percent stake in the company. LG Energy Solution’s consolidated fin
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. In October, international passenger traffic upped 58% y-y, continuing on a recovery track. Cargo traffic volume hit an all-time high. International flights have been gradually resuming since November
A lawmaker of the ruling Democratic Party of Korea has raised suspicions that executives of Samsung affiliates had received 15.8 billion won in illegal credit offering from Samsung Securities in 2017.Rep. Park Yong-jin raised the suspicion in a parliamentary audit of the Financial Services Commissio
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. In September, international passenger traffic climbed 47% y-y, continuing the recovery trend. Cargo traffic recorded an all-time high in terms of average tons per day. We look to a rapid demand recov
Financial Services Commission Chairman Koh Seung-beom remarked on Sept. 30 that the short selling ban remaining in the South Korean stock market needs to be lifted in the end and the commission will formulate measures while closely monitoring market and macroeconomic conditions and COVID-19 situatio
With only 10 days left before the deadline for business registration under the Act on Reporting and Use of Certain Financial Transaction Information, it has become more visible which cryptocurrency exchanges will survive. As expected, not a few exchanges are likely to be closed down.Under the new la
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. - Shares of NAVER and Kakao have fallen sharply in the wake of the Financial Supervisory Service (FSS)’s announcement of its online financial platform service case review results on Sep 7, and a
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. In August, domestic passenger demand decreased. On the other hand, an uptrend in long haul international passenger demand (centering upon US routes) is proving resilient. Backed by strong air cargo y
The Financial Services Commission looked into 25 local cryptocurrency exchanges for one month until July 15 and announced on Aug. 16 that they are incapable of observing the Act on Reporting and Using Specified Financial Transaction Information.“The exchanges have few or no personnel in charge of mo
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. July CPI should prove that recent inflation increase is transitory, resulting in a withdrawal of Fed policy failure bets and bottoming out of US TB yields. Impacts from Koh Seung-beom’s departure sh