On July 27, SK telecom held the “Global Telco AI Alliance CEO Summit” in the Seoul Walkerhill hotel, attended by key executives from leading global telecommunications companies in Europe, the Middle East, and Asia. SK telecom and other global telecommunications companies have come together as one te
Chey Tae-won, chairman of SK Group and the Korea Chamber of Commerce and Industry, clarified the rationale for hosting the 2030 Busan World Exposition (Expo).According to the Korea Chamber of Commerce and Industry, Chairman Chey held a briefing for foreign journalists on July 26 to share his reflect
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
As foreign investment in domestic securities saw an increase and the exchange rate between the Korean won and U.S. dollar stabilized, banks experienced a historic surge in their daily average foreign exchange trading volume in the second quarter.According to the Bank of Korea (BOK) on July 26, the d
KB Kookmin Bank has announced its participation as a title sponsor in co-hosting SMTOWN LIVE 2023 with SM Entertainment in Jakarta, Indonesia.“SMTOWN LIVE 2023 SMCU PALACE @JAKARTA with KB Bank” will be held on Sept. 23 at 6:30 p.m. (local time) at the Gelora Bung Karno Main Stadium in Jakarta, Indo
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
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
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
POSCO FUTURE M is set to expand its high-nickel NCA cathode production capacity by more than 50,000 tons.On July 24, POSCO FUTURE M’s board of directors approved a plan to invest a total of 683.4 billion won (US$535.06 million) by 2025 to construct a high-nickel NCA cathode factory in Yulchon 1st In
The author is an analyst for NH Investment & Securities. He can be reached at jaekwang.rhee@nhqv.com -- Ed.With commercialization of the firm’s lithium business nearing and related details taking shape, we raise our TP on POSCO Holdings to reflect the rising values of its lithium venture and subsidi
The author is an analyst for Shinhan Securities. He can be reached at krpark@shinhan.com -- Ed.2Q23 OP meets market expectations at KRW1.33tr (+88.1% QoQ)POSCO Holdings registered consolidated sales of KRW20.1tr (+3.8% QoQ) and operating profit of KRW1.33tr (+88.1% QoQ) in 2Q23, meeting market expec
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.2Q23 OP falls short at KRW52.1bn (-6% YoY, +157% QoQ)POSCO Future M posted preliminary operating profit of KRW52.1bn (-6% YoY, +157% QoQ) on sales of KRW1.2tr (+49% YoY, +5% QoQ) for 2Q23, missing market
CEO Lisa Su of AMD, a U.S. fabless semiconductor company, has hinted at finding alternatives beyond TSMC, the world’s leading foundry. With TSMC holding a 60% market share, struggling to meet demand due to recent production capacity issues, all eyes are on whether Samsung Electronics, the only compe
Shortly after its recent launch, Kia’s EV9 electric SUV was found to lose power while running. The power loss has been blamed on software, according to industry sources on July 24.Integrated charging control units (ICCUs) are usually blamed for power loss issues in EVs. Kia has been confident of its
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.We expect a 25bp base rate hike at the July FOMC meeting. June inflation data is eroding the option a back-to-back hike to follow in September. The remaining options are: 1) making a July uptick the
According to the SK SUPLEX Council on July 24, Korean Arts Week, sponsored by SK Group and Korea Investment & Securities, concluded successfully at Lincoln Center in New York, the U.S., with the enthusiastic participation of more than 10,000 local residents and rave media reviews.Korean Arts Week, h
Hanwha Ocean announced on July 23 that representatives have signed a memorandum of understanding (MOU) with the Vietnamese Ministry of Industry and Trade on July 22 for the comprehensive cooperation project “for the training and recruitment of Vietnamese manpower.”This MOU was signed to support the
Samsung Electronics and LG Display are expanding their alliance to include 77-inch organic light-emitting diode (OLED) TVs after the 83-inch models. The alliance with LG Display is expected to expand to LCDs due to a patent dispute between Samsung Electronics and BOE of China.According to industry s
In the first six months of this year, the net issuance of Korean Paper denominated in foreign currencies by domestic residents, excluding the government, amounted to US$13.3 billion. This marks a significant increase compared to the previous year’s annual net issuance of US$11.4 billion. Furthermore