At an extraordinary general meeting held on the morning of May 23, Daewoo Shipbuilding & Marine Engineering (DSME) passed all agenda items, including the change of the company's name to “Hanwha Ocean Co., Ltd.,” the amendment of the articles of incorporation, and the appointment of nine new dire
Beginning in 2025, a game of battery chicken is anticipated to kick off among South Korean firms like LG Energy Solution, SK on, and Samsung SDI, and Chinese companies such as CATL. This comes as a result of major companies' factory expansions that are projected to manufacture around 50% more ba
The author is an analyst for Shinhan Securities. He can be reached at jaewonjeong@shinhan.com -- Ed.Pharmaceutical/bio sector to rebound in 2H23 on favorable macro conditions and progress in new drug pipelinesPharmaceutical/bio stocks have fallen out of investors’ favor with valuations declining on
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.Debt ceiling negotiations are both an event risk and a fundamental risk. After a deal is reached, market focus should shift to: 1) the reduction of short-term money market liquidity; and 2) governmen
The author is an analyst for NH Investment & Securities. He can be reached at hwdoh@nhqv.com -- Ed.Memory makers are recently being seen reviewing product price hikes. DDR5 spot prices have turned upward, and contract prices are expected to rise from 3Q23.YMTC boosts NAND price tagsLooking at indust
The Korea Ginseng Corporation (KGC) signed a sponsorship agreement with LPGA star Andrea Lee on May 19 (local time).Andrea Lee, a Stanford alumni who turned pro in 2019, is considered one of the most watched golfers in the U.S. after winning the LPGA's Epson Tour and the Cambia Portland Classic
HD Hyundai Energy Solutions, a solar subsidiary of HD Hyundai, announced on May 22 that they have signed a contract with Portugal's MCA to supply 22 MW of solar modules.Under this contract, HD Hyundai Energy Solutions will supply high-output 500 W modules by August of this year and MCA plans to
HD Korea Shipbuilding & Offshore Engineering (KSOE) announced on May 19 that it has signed a contract on the construction of two petrochemical carriers (PCs) with an African shipping company. The order is 117.3 billion won (US$88.51 million). The ships will be built by Hyundai Mipo Shipbuilding and
LG Energy Solution has announced the signing of an investment contract and a lithium concentrate supply agreement with Green Technology Metals, an Australian company that operates lithium mines in North America, thereby securing approximately a 7.89% stake in the company.As part of this contract, LG
Superior Essex (SPSX), a U.S. wire company under the LS Group, has successfully raised approximately 200 billion won (US$150 million) through a pre-IPO via a domestic private equity fund (PEF).SPSX has signed a contract with SK Securities' subsidiary, SKS Credit, an exclusive private equity fund
Korea Western Power (KOWEPO)has officially signed a contract for a solar power project in Manah, Oman.Korea Western Power attended the Oman Manah 500MW Solar Power contract signing ceremony in Oman on the 18th (local time). The event was hosted by the Oman Power and Water Procurement Company (OPWP),
LG Chem announced on May 18 that it signed a contract to supply reverse osmosis membranes for a large-scale seawater desalination project in Israel. The company has been selected as the sole supplier of reverse osmosis membranes for the Ashdod Desalination Project in Israel. Ashdod Seawater Desalina
Korea’s display industry led by Samsung Display and LG Display will invest more than 65 trillion won in order to recapture the No. 1 spot in the market share standings in the global display market from China by 2027. The plan is to increase the global market share to 50 percent in 2027, widen its te
HMM, a South Korean shipping giant, has joined the race to acquire Hyundai LNG Shipping, the country's top liquefied natural gas (LNG) transporter.According to industry insiders on May 18, HMM has expressed its intention to IMM Private Equity to carry out due diligence and participate in the mai
Korean companies have won a bridge construction and road expansion project worth US$430 million (approximately 576 billion won) in El Salvador.The Ministry of Strategy and Finance announced on May 17 that Korean companies have been finalized as consultants and contractors for the Los Chorros Bridge
As the joint venture construction of the electric vehicle battery factory between LG Energy Solution and Stellantis has been suspended due to subsidy issues, concerns are growing over a prolonged deadlock as the Canadian federal government and the Ontario provincial government are blaming each other
The author is an analyst for NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.Nara Cellar is the fourth largest wine importer/distributor in Korea. It has established a balanced portfolio of wine from different regions. Through the establishment of an advanced winery n
CJ Logistics announced on May 16 that it has signed a Logistics Project Collaboration MOU with Beez Logistics, a local logistics company in Saudi Arabia, in a strategic move to penetrate the Saudi Arabian logistics market.Beez Logistics, headquartered in Riyadh, the capital of Saudi Arabia, has been
The author is an analyst for Shinhan Securities. She can be reached at heeyeon.lim@shinhan.com -- Ed.Retain BUY and raise TP to KRW63,000 for sector top pick We retain our BUY rating on Meritz Financial Group. Our target price is revised up by 65.8% from KRW38,000 to KRW63,000, based on a forward RO
Korea’s ICT exports in April reached US$12.77 billion, down 35.9 percent from April 2022 when Korea posted the highest April exports ever, according to ICT import and export data released by the Ministry of Science and ICT on April 15. The drop in the ICT exports was blamed on a delay in a recovery