The Korean automobile industry saw a new high in export volume after just two months. Exports of eco-friendly cars crossed US$2 billion for the first time. Its total car and parts exports topped US$7.6 billion, rising to the No. 1 spot among Korea’s export items.According to the automobile industry
Samsung Electronics and SK hynix, two major players in the Korean semiconductor industry, are expected to post operating losses of more than 3 trillion won each in the first quarter of this year, indicating that the semiconductor industry’s slump is deeper than expected.According to industry sources
Samsung Electronics has reportedly offered a one percent basic salary raise to its labor union this year. Due to an economic downturn, Samsung Electronics is also tightening its belt by minimizing wage increases.According to industry sources on March 13, the management of Samsung Electronics present
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed.Maintain BUY, target price of KRW80,000 We maintain BUY and TP of KRW80,000 on SEC. We still hold a positive view given that:(1) although key clients are focusing on depleting inventories amid low-demand seasona
The Korea International Trade Association announced on Feb. 15 that South Korea’s global export market share fell from 3.05 percent to 2.85 percent in 2019 and has never topped 3 percent since then. Specifically, it was 2.9 percent in 2020, 2.89 percent in 2021, and 2.83 percent in 2022.In the fourt
POSCO Holdings is pushing for a plan to directly extract lithium, a key material for electric vehicle (EV) batteries, in the United States. The move is a response to the implementation of the Inflation Reduction Act (IRA) in the U.S. The act regulates the country of origin for minerals to lower depe
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. Also, its dividend income should rise, leading to a steady increa
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. While sales are falling ahead of the release of new titles, momentum related to TL (to launch in 2Q23) is rising. We recommend using share price dips as buying opportunities. Four new titles sche
KT Cloud signed a memorandum of understanding (MOU) with Hewlett-Packard Enterprise for cooperation in the IDC integrated infrastructure business.With this agreement, the two companies will introduce services that combine infrastructure/networks, solutions, and marketing/sales capabilities to implem
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed.We expect ContentreeJoongAng’s 4Q22 results to carry an earnings shock on further operating losses at its broadcasting division due to an insufficient number of airings. With all of its major works
Hyundai Motor Co. posted the best performance of all time in 2022 even after setting aside trillions of won in provisioning for quality costs. The company expanded its presence in Korea and overseas markets, with the sales focus put on high value-added models.Hyundai Motor announced in a business pe
Korea Corporate Governance Improvement (KCGI) announced on Jan. 18 that it had sent a letter to shareholders of Osstem Implant proposing corporate value enhancement through a governance reform.KCGI purchased a stake in Osstem Implant through Apricot Holdings at the end of 2022 and announced a shareh
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Although concerns linger toward Kakao’s ad and commerce domains amid an ongoing economic slowdown, we expect an earnings recovery from 2Q23 in line with a strengthening in its business model for
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. GS E&C’s 4Q22 OP likely fell short of consensus due to one-off labor costs and materials price hikes. Full year OP in 2023 is projected to slide 15% y-y to W472.5bn due to deteriorating real esta
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Memory chip supply-demand dynamics to improve in 2H23 We maintain BUY and TP of KRW80,000 on SEC. Our outlook remains positive, as the 4Q22 earnings disappointment should make the company more inclined to reduc
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY, target price of KRW110,000 We maintain BUY and TP of KRW110,000 on LGE. For 2023, our outlook remains positive, as the burden of logistics/feedstock costs should decrease. For H&A, earnings should
Samsung Electronics delivered an earnings shock in the fourth quarter of 2022, with its operating profit plummeting 69 percent. In the aftermath of a global economic slowdown, the company's semiconductor, smartphone, home appliance, and display sales suffered a sharp drop. Experts predict that t
The Ministry of Justice announced on Jan. 5 that the annual E-7-4 visa quota has been adjusted from 2,000 to 5,000 so that shipbuilders can employ more foreign workers. In addition, it changed rules so that a shipbuilder can apply for a visa for foreign welder invitation starting from its second yea
SK On, a battery subsidiary of SK Innovation, announced on Dec. 26 that it will showcase its high-tech batteries, including Super Fast (SF) Battery, the NCM9 Series and S-PACK, at CES 2023, which takes place in Las Vegas of the United States from Jan. 5, 2023.The company's SF Battery is a high-n
Redemption of 48 billion won worth of funds sold by KB Securities and Shinhan Securities was suspended. Investors are claiming that the two companies failed to inform them of the risks of the fund products.The funds, dubbed Fortkorea Green Energy Nos. 1-4, were created by Fortkorea Asset Management,