The Chinese government has decided to virtually fully permit overseas group travel for its citizens for the first time in over three years since the onset of the COVID-19 pandemic. Consequently, Chinese group tourism to South Korea will resume after more than six years, unlocking the travel restrict
The four major Korean business groups -- Samsung, S.K., Hyundai, and LG -- have begun to return to the Federation of Korean Industries (FKI).Ahead of the FKI’s extraordinary general assembly on Aug. 22, Samsung will hold a compliance committee meeting to discuss rejoining the organization. Other gro
Global brand Chevrolet starts full-fledged sales today with the official launch of ‘THE NEW TRAILBLAZER’ in Korea.Debuted in the global market in 2020, the Chevrolet Trailblazer is a model that sets the standard for a premium compact SUV with unique designs that can be selected according to consumer
Elliott Management, a U.S.-based private equity fund, criticized the South Korean government’s decision to file an appeal lawsuit against an international investment dispute decision, saying that “the rejection of the decision sends the wrong message that South Korea is tolerant of corruption.” The
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.Hanmi Pharm’s 2Q23 OP is to miss consensus due to R&D cost reflection in the quarter. Our annual R&D cost projection remains intact. Believing that concerns towards Saemaul Geumgo (bank) regarding th
The following article was written by James Tosdevin, a teacher and the Senior School Global Citizenship and Sustainability Lead at Dulwich College Seoul.From one extreme weather event to another, we are constantly reminded that the climate crisis is real and that we need to act immediately. One of h
For the third year in a row, the Korea Fair Trade Commission (KFTC) has failed to reach a conclusion on whether foreigners can be designated as head of a business group (the “same person” under the Fair Trade Act). The “foreign head of a Korean business group” controversy has been continuing for thr
Samsung Electronics, Korea’s largest company with 120,000 full-time employees, will implement a four-day workweek once a month. As more and more companies are already implementing it or pushing for its introduction, it remains to be seen if this partial four-day workweek system will spread across th
The author is an analyst for Shinhan Securities. She can be reached at hpark@shinhan.com -- Ed.Large-caps see weak demand during China’s 618 event, rising cost issuesLarge-cap Korean cosmetics companies appear to be seeing a limited upturn in earnings in 2Q23. Cosmetics exports to China and Hong Kon
It was revealed that Hong Ra-hee, the former director of the Leeum Museum, President Lee Boo-jin of Hotel Shilla, and Chairman Lee Seo-hyun of the Samsung Welfare Foundation borrowed a total of 4 trillion won (US$3.1 billion) in stock-secured loans to pay the inheritance tax of the late Chairman Lee
The author is an analyst for Shinhan Securities. He can be reached at jk.ahn@shinhan.com -- Ed.KTB yields on a steep uptrend since end-May on issues at home and abroadThe 3Y KTB yield has now rebounded near 3.6% after remaining below the base rate of 3.5% since mid-March, putting an end to the negat
The author is an analyst for Shinhan Securities. He can be reached at kw.eun@shinhan.com -- Ed.Reasons behind weak share performance of SKShare performance has remained sluggish with SK's major listed and unlisted subsidiaries posting weaker earnings amid a shift in investor sentiment toward the
The author is an analyst for Shinhan Securities. He can be reached at bh.lee@shinhan.com -- Ed.1Q23 review: Decent top-line growth vs. disappointing marginsGolfzon reported consolidated operating profit of KRW41.5bn (-18.1% YoY) on sales of KRW187bn (+21.5% YoY) in 1Q23. Sales beat market expectatio
The author is an analyst for Shinhan Securities. He can be reached at snowKH@shinhan.com -- Ed.Earnings to improve gradually from a sluggish 1Q23TSE registered an operating loss of KRW6.6bn in 1Q23. The company saw a dip in overall top line with sales from probe cards falling to KRW4.5bn (-74% YoY),
The author is an analyst for Shinhan Securities. He can be reached at bh.lee@shinhan.com -- Ed.1Q23 review: Sales and operating profit worse than expectedIncross posted consolidated sales of KRW10.3bn (+10.2% YoY) and operating profit of KRW2.2bn (+21.1% YoY, operating margin of 21.2%) in 1Q23, miss
The author is an analyst for Shinhan Securities. He can be reached at yk.cho@shinhan.com -- Ed.1Q23 review: Growth led by China demandCosmax NBT posted operating profit of KRW1.5bn (+101.1% YoY) on sales of KRW80.4bn (+2.3% YoY) for 1Q23, missing our estimate of KRW2.2bn. The parent recorded a 6.8%
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
South Korea's inheritance and gift tax burden, in relation to its Gross Domestic Product (GDP), ranks highest among member countries of the Organization for Economic Co-operation and Development (OECD), triggering calls for a comprehensive reform of the country's inheritance tax system. Advo
Park Hyatt Busan, the epitome of a luxury hotel in Busan, has selected Roman Kardashov as its new general manager.A Russian, Mr. Roman Kardashov, spent his school days in Hong Kong and gained valuable front-line experience as an F&B intern at Lindner Golf & Ski Hotel Rhodania in Crans Montana, Switz
The author is an analyst for Shinhan Securities. He can be reached at sanghoonpure.cho@shinhan.com -- Ed.1Q23 review: OP exceeds market expectations by 12%GS Retail posted operating profit of KRW46.6bn (+109.7% YoY) on sales of KRW2.7tr (+4.9% YoY) for 1Q23, beating the consensus estimate by 12%. Ea