Hyundai Motor Group chairman Chung Eui-sun, SK Group chairman Chey Tae-won, POSCO Group chairman Choi Jung-woo and Hyosung Group chairman Cho Hyun-joon gathered together on June 10 in order to strengthen their partnership in the hydrogen industry.Three months ago, they announced that they would inve
The author is an analyst of NH Investment & Securities. He can be reached at jack.baek@nhqv.com. -- Ed. Insun ENT’s 1Q21 results missed our estimates and consensus. But, landfill ASP for construction waste should rise in 2H21, backed by rising housing start areas and improving construction industry
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Sales growth is difficult for SkyLife to achieve at this juncture as its OTS (Olleh TV SkyLife) subscriber numbers continue to decline, but the firm is seeking to amend this weakness through a bu
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. NCSOFT’s Trickster M has been confirmed for release on May 20, and Blade & Soul 2 is expected to launch in June. Having taken a few hits from a variety of issues, NCSOFT’s share price should soon
The authors are analysts of Shinhan Investment Corp. They can be reached at jwsung79@shinhan.com and hanny.lee@shinhan.com, respectively. -- Ed. 1Q21 consolidated OP beats consensus at KRW26.6bn (TB YoY)Hotel Shilla posted consolidated operating profit of KRW26.6bn (positive swing YoY) on sales of K
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. With its green business (including hydrogen) representing one of the four key pillars of SK Holdings’ business portfolio, around W18.5tn is to be invested in its hydrogen business. Through this
The authors are analysts of NH Investment & Securities. They can be reached at ys.jung@nhqv.com. -- Ed. Large domestic corporations rolling out hydrogen investment plansWith the Korean government having confirmed its strong commitment towards nurturing of the domestic hydrogen industry, private comp
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. Highlights of SK Holdings’ recently announced mid/long-term growth vision include: 1) securing W46tn in funds within five years; 2) reorganizing its business portfolio into four areas (advanced
LS Cable and System Asia announced on March 23 that LS-VINA, its subsidiary in Vietnam, will supply undersea cables for an offshore wind farm project in Tan Phu Dong, southern Vietnam.The client is Power Construction Joint Stock Co. No.1 (PCC1), a plant construction company in Vietnam. The order amo
The author is an analyst of KB Securities. He can be reached at yc.baek@kbfg.com. -- Ed. Target price raised to KRW110,000 We reiterate BUY on S-Oil and raise our TP by 17.7% to KRW110,000 to reflect upward earnings estimate revisions. We revise up 2021E/2022E NP attributable to controlling interest
The author is an analyst of NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com. -- Ed. Amidst greater public and private interest in space development, satellite launch project orders should continue to expand. We believe Genohco is well positioned to benefit from this trend t
The Yomiuri Shimbun reported on March 8 that about 30 battery-related companies in Japan would form a supply chain partnership next month. The companies include GS Yuasa, Prime Planet Energy & Solutions and Sumitomo Metal Mining.A battery is a key component of an electric vehicle accounting for appr
Mercedes-Benz and BMW sold more cars than GM Korea, Renault Samsung Motors and SsangYong Motor in South Korea last month. This is the first time that the former two outperformed the three. The dominance of Hyundai Motor Group, Mercedes-Benz and BMW in the South Korean car market is continuing to inc
Market research firm SNE Research announced on March 2 that the supply of LG Energy Solution batteries for electric vehicles registered worldwide in January this year totaled 2.5 GWh. The company took the top spot in January last year but came in second in January this year.The amount and ranking ar
The author is an analyst of NH Investment & Securities. He can be reached at will.byun@nhqv.com. -- Ed. China’s steel prices have risen sharply since the Chinese Lunar New Year holiday. We attribute the increase to economic recovery, high iron ore prices, inventory re-stocking, and seasonal demand e
The author is an analyst of KB Securities. He can be reached at yc.baek@kbfg.com. -- Ed. Revising up TP to KRW504,000 We reiterate BUY on Lotte Chemical and raise our TP to KRW504,000 (+37.0%) as we reflect upward revisions to our 2021E and 2022E EPS estimates by 34.5% and 14.9%, respectively. Revis
The U.S. Department of Commerce announced on Feb. 14 that South Korea’s goods trade surplus with the United States increased 18.5 percent to US$24,801.8 million in 2020, when South Korea’s goods exports to the United States fell 1.9 percent to US$76,019.8 million and its good imports from the United
The author is an analyst of NH Investment & Securities. He can be reached at midas.sohn@nhqv.com. -- Ed. While expectations were high, sales at Point Engineering’s new semicon coating business have been delayed and the firm’s 2020 sales likely fell short of forecasts. However, as chipmakers plan to
The author is an analyst of NH Investment & Securities. She can be reached at jy.lee@nhqv.com. -- Ed. Hotel Shilla’s 4Q20 earnings missed expectations, affected by one-off expenses stemming from a change in lease accounting standards, asset depreciation, and restructuring costs. As of 1Q21, the firm
Foreign currency deposits hit an all-time high based on an increasing U.S. dollar demand from both enterprises and individual investors.The Bank of Korea announced on Nov. 18 that residents’ foreign currency deposits in foreign exchange banks increased by US$7.87 billion to US$93.32 billion last mon