LS Cable & System announced on Oct. 20 that it will supply about 240 billion won worth of cables for the Boreas wind farm in the North Sea of the United Kingdom. This is the largest ever order from Europe received by a Korean cable company. The Boreas offshore wind farm is being developed by Sweden&
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. We expect Studio Dragon’s consolidated 3Q22 OP to meet consensus. In addition to the sustaining of strong quarterly earnings thanks to the airing of episodes on captive channels, from October, glob
The authors are analysts of Shinhan Investment Corp. They can be reached at sanghoonpure.cho@shinhan.com and yk.cho@shinhan.com, respectively. -- Ed. 3Q22 earnings to miss consensusHiteJinro is expected to post operating profit of KRW54.3bn (+21.1% YoY) on sales of KRW654.9bn (+17.5% YoY) for 3Q22,
The author is an analyst of Shinhan Investment Corp. He can be reached at chank@shinhan.com. -- Ed. New investments to continue despite weak IT demandA slowdown in the global economy has weighed heavily on the overall demand for tech products. The recent downgrade of demand forecasts is seen somewha
China’s BYD, the world’s second-largest electric vehicle (EV) maker and third-largest battery maker, has selected Thailand as its first overseas plant construction site. It aims to preempt the Southeast Asian EV market, which is expected to grow rapidly. A fierce battle is expected between BYD and H
Amorepacific will take over Tata Harper, a luxury clean beauty brand in the United States.Amorepacific announced on Aug. 1 that it would acquire a 100 percent stake in Tata's Natural Alchemy, the operating company of the Tata Harper skin product brand. Amorepacific raised about 168.1 billion won
The author is an analyst of KB Securities. He can be reached at kimtaehee@kbfg.com. -- Ed. Initiating coverage with BUY and TP of KRW100,000 We initiate coverage of Celltrion Healthcare with a BUY rating and target price of KRW100,000. Derived using the DCF model, our TP is based on 10.00% WACC (11.
Hyundai Motor Group has reformulated its strategy for the Chinese market. It is planning to produce electric vehicles (EVs) in China and introduce high-end models and brands such as the Genesis in the Chinese market to expand its presence.In China, Hyundai Motor Group has been caught between high-en
The authors are analysts of Shinhan Investment Corp. They can be reached at sokang@shinhan.com and kimaram@shinhan.com, respectively. -- Ed. 2Q22 review: Earnings meet consensus, one-off lawsuit-related costsDoubleU Games posted operating profit of KRW41.8bn (–14.8% YoY, –2.1% QoQ, operating margin
Korea Ginseng Corp. (KGC) announced on Aug. 9 that it has launched a full-scale marketing campaign to promote Korean red ginseng to the Middle East.The company recently organized the second KGC Conference in the United Arab Emirates (UAE). The event, launched last year, was attended by pharmacists f
The authors are analysts of Shinhan Investment Corp. They can be reached at sanghoonpure.cho@shinhan.com and yk.cho@shinhan.com, respectively. -- Ed. 2Q22 earnings better than expectedCJ CheilJedang posted operating profit of KRW504.3bn (+7.4% YoY) on sales of KRW7.52tr (+19.1% YoY) for 2Q22, beatin
The author is an analyst of KB Securities. He can be reached at yonghyun.choi@kbfg.com. -- Ed. Initiating coverage on Korea Media with POSITIVE ratingWe initiate coverage on Korea Media with a POSITIVE rating. The media industry in Korea is in the midst of undergoing structural changes where OTT (ov
The three major Korean battery cell companies have formed a common front to respond to the EU’s recycling regulations.Representatives of the three companies -- LG Energy Solution, SK On, and Samsung SDI -- and the Korea Battery Industry Association visited the EU Joint Research Center (JRC) in Bruss
The author is an analyst of Shinhan Investment Corp. He can be reached at sanghoonpure.cho@shinhan.com. – Ed. 2Q22 earnings to come in line with consensus estimatesCJ CheilJedang is expected to have generated operating profit of KRW454.5bn (-3.2% YoY) on sales of KRW6.97tr (+10.5% YoY) for 2Q22, com
The authors are analysts of Shinhan Investment Corp. They can be reached at jhwon@shinhan.com and shawn1225@shinhan.com, respectively. -- Ed. 2Q22 preview: Earnings likely in line with market consensusWe now expect Huvitz to post consolidated sales of KRW27.2bn (+16.3% YoY) and operating profit of K
The authors are analysts of Shinhan Investment Corp. They can be reached at jhwon@shinhan.com and shawn1225@shinhan.com, respectively. -- Ed. 2Q22 preview: Earnings likely better than fearedWe now expect Dentium to post consolidated sales of KRW87.4bn (+20.6% YoY) and operating profit of KRW23.1bn (
The author is an analyst of KB Securities. He can be reached at kimtaehee@kbfg.com. -- Ed. Outstanding efficacy and safety data for Remsima SC showcased at EULAR 2022 Celltrion showcased outstanding efficacy and safety data for Remsima SC at EULAR 2022 (Jun 1-4). According to data presented, patient
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. LG U+ typically shows higher subscriber and OP growth than competitors. However, in 1Q22, sales slowed compared to those of competitors. That said, we expect to see a recovery from 2Q22.OP grows
SK Inc. and SK Innovation have partnered with TerraPower of the United States to promote the small modular reactor (SMR) business.The two companies signed a memorandum of understanding with TerraPower, a company set up by Bill Gates in 2008, for comprehensive business cooperation. TerraPower is an i
Kolmar Korea, a cosmetics ODM company in Korea, has acquired the Kolmar brand trademark from the Kolmar Group of the United States.Kolmar Korea Holdings announced on May 17 that it has acquired all Kolmar trademark rights from the Kolmar Group. They agreed to keep the acquisition price under wraps.“