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
The author is an analyst for Shinhan Securities. He can be reached at jhwon@shinhan.com -- Ed.1Q23 results miss market expectationsDentium posted consolidated operating profit of KRW21.5bn (+5.5% YoY, operating margin of 31.3%) on sales of KRW68.8bn (-7.7% YoY) in 1Q23. While operating profit came i
The Korea Fair Trade Commission (KFTC) will punish OCI Group for unfair internal trading. The OCI Group can face a fine of up to 28 billion won if the allegations are proven true at an upcoming plenary session.According to industry sources on May 3, the KFTC sent an investigation report to SGC Solut
Seo Jung-jin, the head of biotech company Celltrion Group and one of South Korea’s richest persons, is reported to have children out of wedlock. He recently registered two additional children after a paternity claim.With the emergence of Seo’s two extramarital children, changes may be made in Celltr
The author is an analys of Shinhan Securities. He can be reached at jinmyung.lee93@shinhan.com -- Ed.1Q23 OP exceeds market expectations at KRW791bn (+314% QoQ)LG Chem posted operating profit of KRW791bn (+314% QoQ) for 1Q23, beating the market consensus of KRW648.1bn. The company reported sharp gro
The author is an analyst of Shinhan Securities. She can be reached at sunmi.kim@shinhan.com -- Ed.OP beats consensus by 30% for a second straight quarterSamsung Engineering posted consolidated sales of KRW2.5tr (+17.1% YoY, - 13.8% QoQ) and operating profit of KRW225.4bn (+29.2% YoY, +5.1% QoQ) for
The author is an analyst of Shinhan Securities. She can be reached at inhae.ji@shinhan.com -- Ed.1Q23 preview: OP to come in at KRW19.4bnParadise is set to post operating profit of KRW19.4bn (positive swing YoY) on sales of KRW188.1bn (+89% YoY) for 1Q23, meeting market expectations.The company saw
The author is an analyst of Shinhan Securities. He can be reached at chank@shinhan.com -- Ed.IT materials and thin-glass processing services providerChemtronics focuses mainly on chemicals and electronics businesses. The chemicals business division, which generated 47% of total sales in 2022, is wid
The author is an analyst of Shinhan Securities. He can be reached at sokang@shinhan.com -- Ed.1Q23 preview: Update effects and cost reductionDevsisters is expected to have recorded operating income of KRW49.6bn(-18.3% YoY, +1.2% QoQ) and operating loss of KRW6.1bn (TR YoY, RR QoQ, operating margin o
The author is an analyst of Shinhan Securities. He can be reached at jk.ahn@shinhan.com -- Ed.2023 tax revenue shortfalls raising expectations for an extra budget in 2HKorea’s tax revenue for the year to February came in lower by more than KRW15tr on a YoY basis, due to weaker contribution from inco
While an inheritance dispute has broken out between members of the owning family of LG Group, LG’s stock prices were shaken as an activist fund made a surprise appearance as a major shareholder.On April 12, LG closed at 93,500 won (US$71.18), posting a 9.48 percent (8,100 won) increase. Institutiona
The author is an analyst of Shinhan Securities. She can be reached at hpark@shinhan.com -- Ed.1Q OP results to fall short but China earnings on a recovery pathWe now expect Cosmax to post consolidated operating profit of KRW 11bn (- 20% YoY) on sales of KRW401.7bn (+1% YoY) for 1Q23, missing the con
The author is an analyst of Shinhan Securities. He can be reached at sanghoonpure.cho@shinhan.com -- Ed.1Q23 OP likely to miss consensus at KRW298.3bn (-31.5% YoY)We now expect CJ CheilJedang to post operating profit of KRW298.3bn (- 31.5% YoY) on sales of KRW7.18tr (+2.8% YoY) for 1Q23, missing the
The author is an analyst of Shinhan Securities. He can be reached at jinmyung.lee93@shinhan.com -- Ed.1Q23 operating profit to fall short at KRW145bnSK Innovation is expected to have recorded operating profit of KRW145bn (positive swing QoQ) in 1Q23, missing the market consensus of KRW341.7bn. The r
The author is an analyst of Shinhan Securities. He can be reached at krpark@shinhan.com -- Ed.1Q OP likely short at consolidated KRW155bn, standalone KRW163bnWe now expect Korea Zinc to report operating profit of KRW154.6bn (+46.6% QoQ) on a consolidated basis and KRW162.8bn (+4.2% QoQ) on a standal
EQT Partners, a private equity fund (PEF), has finalized the acquisition of SK Shieldus, a security business affiliate of SK Group. EQT will sign a stock purchase agreement (SPA) worth three trillion won with SK Shieldus this week. It will take over about 30 percent of the 63.1 percent stake held by
Ongjin County of Incheon Metropolitan City consists of a group of scenic islands in the West Sea (Yellow Sea). But its major islands are difficult to access as they are located far away from the mainland. In particular, five of them, Daeyeonpyeong Island, Soyeonpyeong Island, Baengnyeong Island, Dae
Samsung Electronics announced on Feb. 21 that it will produce Ambarella's newly announced CV3-AD685 automotive AI central domain controller using its 5-nanometer (nm) process technology.Ambarella is a NASDAQ-listed AI semiconductor company. This collaboration will help transform the next generat
Whatever you imagine when you think of a school headmaster, Guðmundur Hegner Jónsson is likely to surprise you. Originally from Iceland and standing close to two meters in height, he has dug up the world’s past as an archaeologist, recorded in the same studio as The Beatles, and speaks four language
Yoon Hong-keun, a former chairman of the fried chicken franchise Genesis BBQ, has been indicted for a breach of trust.The Seongnam Branch of Suwon District Prosecutor’s Office announced on Feb. 1 that it indicted Yoon without detention on Jan. 16 on charges of violating the Act on the Aggravated Pun