The author is an analyst for NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.LG Corp is expected to strengthen its business portfolio, using its net cash holdings of W1.5tn for M&As and CVC establishment. Over the mid/long term, we expect share buybacks to continue. DPS
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Uncertainties surrounding the telecom industry are now easing gradually. Even if a fourth major mobile carrier announcement is made, the number of companies that can actually participate is likely
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.NAVER’s generative AI service HyperCLOVA X, which is set to be unveiled this summer, should prove more competitive than the offerings of global rivals, at least in Korea. With its long-term invest
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com -- Ed.Capital strength, a long re-pricing cycle, and IFRS17 effects were all highlighted in KBFG’s 1Q23 results.Maintain as top pick despite cut to TPWe believe that three of KBFG’s key strengths were clearl
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.Earnings at Samsung C&T have leveled up thanks to stable earnings at the construction division, brisk growth at the bio division, and the fading of Covid-19 effects. Based on this, Samsung C&T ha
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com -- Ed.While recognizing macro uncertainties, we draw attention to positive fundamental changes at HMC stemming from improved product competitiveness. We foresee a virtuous cycle of strengthening shareho
The author is an analyst of Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP comes in at KRW3.6tr (+86% YoY, +7% QoQ)Hyundai Motor posted operating profit of KRW3.6tr (+86% YoY, +7% QoQ) on sales of KRW37.8tr (+25% YoY, -2% QoQ) in 1Q23, beating the consensus estimate by 2
Samsung SDI will team up with General Motors (GM) to establish an electric vehicle battery joint venture in the United States. With a capacity of 30 GWh, the total investment of the two companies will amount to US$3 billion (approximately 4 trillion won).Samsung SDI announced on April 25 that it wil
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.Policy to expand the number of NPPs is appearing rapidly in Europe and the US. Backed by the introduction of SMRs, this movement is on track for further acceleration.EU energy market for first week
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.SK Inc is expected to maintain solid fundamentals as a ‘professional value investor’ by reinforcing new growth portfolios centered upon four major businesses and by strengthening shareholder valu
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.We lower our TP on KT&G to W110,000 to reflect adjustments to our earnings estimates. However, considering the chances of expanded shareholder return policy, we view KT&G as an attractive defensive play
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.Earnings at Samsung C&T have leveled up thanks to stable earnings at the construction division, brisk growth at the bio division, and the resolution of Covid-19 effects. Based on this, Samsung C&
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com -- Ed.SFG is facing the double whammy of a shrinking market and weak 1Q23E earnings. We believe that it is time to expand shareholder return via a share buyback/retirement program.Lower TP, but maintain as t
SK hynix has decided to issue exchangeable bonds (EBs) worth 2 trillion won abroad. The purpose of the issuance is to raise operating funds while a deficit is expected in the first quarter of this year following the fourth quarter of last year due to a prolonged slump in the semiconductor industry.S
The stock price of SK IE Technology (SKIET) has soared. As the details of the US Inflation Reduction Act (IRA) came out, investor sentiment is responding positively to separator manufacturers that have became able to compete for market shares.On April 4th, SKIET’s stock price in the KOSPI market clo
The U.S. Treasury Department announced detailed guidelines for subsidies for electric vehicles under the Inflation Reduction Act (IRA) on March 31 (local time). Many Korean analysts say that the detailed guidelines are not much different from what they expected. However, they are also devoid of spec
Korean battery companies breathed a sigh of relief after examining the detailed guidelines of the IRA released by the U.S. Treasury Department on March 31 (local time). This is because according to the guidelines, they will be able to continue their current processes and still receive subsidies unde
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.LG Corp is expected to strengthen its business portfolio, using its net cash holdings of W1.6tn for M&As and CVC establishment. Over the mid/long term, we expect share buybacks to continue. DPS s
SK On, a battery arm of the SK Group, will go ahead with having an IPO in 2025 at the earliest. In order to protect the shareholder value of SK Innovation, its parent company, SK On, has also come up with a plan to minimize opposition from existing shareholders by studying the possibility of an exch
LG Energy Solution is considering receiving subsidies set by the U.S. Inflation Reduction Act (IRA) in cash. This is because if the subsidies are received in cash rather than tax credits, they will be included in operating profit, resulting in a significant performance improvement in the future.Acco