Kim Jin-yong, commissioner of the Incheon Free Economic Zone Authority (IFEZ), announced on June 13 that the organization has signed a memorandum of understanding (MOU) with Eric Leung, the representative of AISL Harrow International School, the incorporation for the establishment of the Asian branc
Unlike recent high-profile visits of major U.S. CEOs to Beijing and Shanghai such as Elon Musk of Tesla and Jamie Dimon of JP Morgan Chase, those of major Korean companies with strategic production bases in China have been keeping a low profile. Even if they visit China, they seem to be refraining f
The author is an analyst for Shinhan Securities. He can be reached at tyc@shinhan.com -- Ed.Focused on exports of baby skin care products and POE packagingZero to Seven manufactures baby skin care products, including shampoo, body wash, lotion and sunscreen, under the brand name of Goongbe. In addit
The author is an analyst for NH Investment & Securities. He can be reached at jiyoony@nhqv.com -- Ed.The Nature Holdings’ OP for 1Q23 came in sluggish due to both a higher COGS-to-sales ratio and greater labor costs for advertising and new brands. But, the overseas sales portion for NG has been on a
The United States and the European Union (EU) are preparing a joint regulatory proposal to limit Chinese investment in high-tech sectors such as semiconductors. They are stepping up their pressure on Beijing after the leaders of the Group of Seven (G7) announced a joint response to China’s economic
The author is an analyst for NH Investment & Securities. He can be reached at jack.baek@nhqv.com -- Ed.We visited Golfzon’s flagship and franchise stores in Shanghai to check up on the firm’s overseas business. Our conclusion is that although high expectations for the Chinese business remain valid,
We raise our TP on Hanmi Pharm to W430,000. In 1Q23, both consolidated and non-consolidated earnings surpassed consensus, hitting record quarterly figures. Moving ahead, COGS-to-sales ratio should continue to improve thanks to increased sales of Rolontis and other products. We also draw attention to
SK E&S will join hands with China’s state-run energy company. After liquefied natural gas (LNG), SK E&S is expanding its business areas into hydrogen to tap into the Chinese energy market.SK E&S and CEEHE signed a strategic partnership agreement for hydrogen business at SK E&S’ Chinese office in Bei
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.We expect The Nature Holdings’ 1Q23 consolidated results to show a 14% y-y increase in OP, backed by both a surge in carrier sales and narrowing losses for the Barrel. With sound carrier sales, new b
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.China’s consumer discretionary retail sales growth rebounded in March. We draw investor attention to F&F, which is strengthening its brand power in China, noting that the intensity of apparel consump
Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won are expected to visit the United States next month to accompany President Yoon Seok-yul during the KORUS summit scheduled for April 26.This month, Lee visited China after nearly three years to attend the 2023 China Developm
SK Hynix CEO and Vice Chairman Park Jung-ho said that the company was brooding over whether to apply for subsidies under the CHIPS Act as the U.S. government demands that companies submit profitability indicators and yields, which are trade secrets, as Excel files.Speaking to reporters after the com
The Korea Automotive Technology Institute said in its report on March 27 that the South Korean EV industry may be affected if the EV quick charging standards of Japan and China enter emerging markets. At present, the standard in the United States, South Korea, and Europe is the Combined Charging Sys
A possibility is being raised that Hyundai Steel may withdraw its subsidiary from Russia following its exit from Beijing, China. This is because the operation of Hyundai Motor's plant in Russia has been halted due to the prolonged war between Russia and Ukraine.According to industry sources on M
The Korea International Trade Association recently conducted a survey in 10 major Chinese cities and announced on March 5 that South Korean products are losing popularity in China.In the survey, more than 54 percent of 1,000 respondents in total said they are positive about South Korean products, wh
The author is an analyst of KB Securities. He can be reached at kimtaehee@kbfg.com. -- Ed.Maintain BUY; Revising up TP to KRW380,000 We maintain BUY on Hanmi Pharm but raise our TP from KRW350,000 to KRW380,000 upon changes to 2023E equity risk premium (5.41%) and risk-free rate (3.32%) as well as s
Lee Seok-yong, CEO of NongHyup Bank (NH Bank), held a video conference with overseas branch managers on Feb. 8 to check the current status of business promotion by country and encourage employees.Lee asked overseas branch managers to make efforts to generate profits in global business and clarify bu
The Chinese government suspended short-term visa issuance for South Koreans after the South Korean government applied mandatory COVID-19 testing to those entering South Korea from China. The mandatory testing has been applied since Dec. 30 along with limited visa issuance and limited flight expansio
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. Sales in both Korea and China likely fell short of consensus in 4Q22 due to warm weather and lockdown effects, respectively. In 1Q23, driven by pent-up demand in China, investors should focus on F&
Korean Air announced on Dec. 26 that the State Administration for Market Regulation of China has approved its acquisition of Asiana Airlines.The merger must be approved in nine regions (United States, European Union, Japan, Turkey, Taiwan, Vietnam, South Korea, China and Thailand). The competition a