The author is an analyst for NH Investment & Securities. She can be reached at hzl.lee@nhqv.com -- Ed.We raise our TP on SM Ent to W143,000. Following an amicable settlement regarding the dispute with three EXO members, pre-order volume for EXO’s new album (released on Jul 10) reached 1.6mn copies.
The author is an analyst for Shinhan Securities. She can be reached at inhae.ji@shinhan.com -- Ed.Record-high quarterly sales driven by IPs and concertsHYBE is expected to have achieved all-time high quarterly sales of KRW599.9bn in 2Q23, sharply exceeding upward adjusted market expectations. Driven
The author is an analyst for KB Securities. He can be reached at jeff.kim@kbfg.com -- Ed.Maintain BUY, TP of KRW170,000We maintain BUY and TP of KRW170,000 for LG Electronics (LGE), as: (1) Home Appliance & Air Solution (H&A) should post all-time high OP for 2023E (KRW2.3tn; +100% YoY) amid decreasi
The author is an analyst for NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.Possessing the heftiest VR content track record and development capabilities in Korea, SKonec is gaining momentum on global IT giants’ foray into the XR market. We expect the firm to enjoy fu
The author is an analyst for NH Investment & Securities. He can be reached at jack.baek@nhqv.com -- Ed.At end-May, we held an NDR for SAMG Ent with domestic institutional investors. Overall, feedback was positive regarding the firm’s steep domestic sales growth. SAMG Ent is also emphasizing the pote
The author is an analyst for NH Investment & Securities. He can be reached at midas.sohn@nhqv.com -- Ed.In 2H23, the domestic economy is expected to ride a sliding path. In times when external environments turn murky, we advise investment in firms boasting individual growth catalysts. In this report
The author is an analyst for NH Investment & Securities. She can be reached at hzl.lee@nhqv.com -- Ed.In 1H23, the entertainment and casino industries are enjoying solid earnings, despite worries over economic slowdown. As these industries are backed by fans and personal preferences, they remain rel
Incheon City's Incheon Free Economic Zone Authority announced on May 17 that it has signed a Memorandum of Understanding for the establishment of Cheongna G-Tech City at the G Tower in Songdo International City.The signing ceremony was attended by Incheon Mayor Yoo Jeong-bok, Incheon Free Econom
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Having overhauled its game business strategy to center on game publishing, Com2uS Holdings is scheduled to release three new games (Zenonia: Chronobreak, Project HoL, and Sangokushi Eternal). Earn
A number of high-profile mergers and acquisition (M&A) deals were made in the entertainment industry recently. Kakao and HYBE's investment in SM Entertainment is a recent good example.Korean showbusiness companies are partnering with blockchain platforms for metaverse platforms or the non-fungib
The author is an analyst for NH Investment & Securities. She can be reached at hzl.lee@nhqv.com -- Ed.We raise our TP on YG Ent to W96,000. With Blackpink’s high global popularity translating into economies of scale, earnings momentum is now picking up in earnest. Contract renewal for Blackpink is e
The author is an analyst for NH Investment & Securities. She can be reached at hzl.lee@nhqv.com -- Ed.SM Ent posted consensus-missing 1Q23 OP of W18.3bn, weighed upon by OP deterioration due to an absence of meaningful new album releases. But, with eagerly-awaited major artist release cycles drawing
The author is an analyst for NH Investment & Securities. He can be reached at jack.baek@nhqv.com -- Ed.SAMG Ent is a top-tier domestic toy maker and children’s animation producer. Its major IPs include Catch Teenieping and Miniforce. We recently met with SAMG Ent’s Chinese partner, Wowdadi, in Shang
The author is an analyst for NH Investment & Securities. She can be reached at hzl.lee@nhqv.com -- Ed.CJ ENM reported an earnings shock, affected by widening losses at new businesses (OTT, US production) and impacts of economic slowdown at the main business, excluding entertainment. A sharp recovery
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Viewing its 1Q23 results as marking the bottom point, we believe that Kakao’s earnings are now seeking a modest rebound. Despite lingering economic uncertainties, we expect earnings and share pric
South Korean President Yoon Suk-yeol and Netflix CEO Ted Sarandos met in Washington D.C. on April 25. The CEO said that his company would invest US$2.5 billion in the South Korean market over the next four years. This is in contrast to the US$1.3 billion or so Netflix previously invested in the mark
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com -- Ed.We raise our TP on SM Ent by 24% to W130,000 on a hike to our earnings estimates in consideration of profitability improvement following both the termination of its contract with Like Planning and to
The market cap of JYP Entertainment topped three trillion won with a new international girl group about to debut in the United States.The KOSDAQ-listed company’s stock price has risen 26.4 percent this year. The price hit an all-time high of 88,300 won (US$66.42) and the market cap topped three tril
Hyundai Mobis, an automotive parts arm of Hyundai Motor Group, announced on April 17 that it has developed the world's first automobile rollable display.The rollable display rolls up and down when entering and exiting the vehicle. When the car is turned off, the screen disappears completely, and
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.While sluggish economic conditions were inescapable in 1Q23, we note that KakaoTalk is to be reorganized in 1H23. This initiative, along with anticipated ad market recovery, should spur sales growt