Samsung Electronics has confirmed that it has temporarily postponed the development of an extended reality (XR) product. Industry analysts say that it was an internal decision made in light of the Vision Pro headset unveiled by Apple in June.Samsung Electronics said in a recent notice to its panel p
The author is an analyst for Shinhan Securities. He can be reached at wonyong.sim@shinhan.com -- Ed.2Q23 preview: Sales estimated at KRW31.8bnOnejoon is expected to have generated sales of KRW31.8bn (+672% YoY) and operating profit of KRW2.3bn (positive swing YoY) in 2Q23. The order received in June
Leading global corporations from South Korea including Samsung, SK, Hyundai Motor, and LG have set up local offices around Capitol Hill and are strengthening communications with the U.S. government and Congress by recruiting high-ranking former U.S. bureaucrats and other influential figures.Last yea
The business community has called on the Korean Confederation of Trade Unions (KCTU) to “immediately halt the illegal strike,” and appealed to the government to deal firmly with the groundless strike.The Korea Enterprises Federation, the Korea Chamber of Commerce and Industry, the Federation of Kore
The author is an analyst for NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com -- Ed.Despite sluggish sales to some clients, we expect Samsung SDI to book overall solid earnings for 2Q23 thanks to solid sales of premium models at key customers. We view expectations toward gradual t
The European Union (EU) has decided to postpone the decision on the corporate merger review between Korean Air and Asiana Airlines.According to the aviation industry on June 29, the European Commission (EC) temporarily halted measures related to the merger of the two airlines on June 23 (local time)
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Bumhan Fuel Cell’s profitability has been sapped by delayed orders for domestic submarines and stiffer competition for hydrogen refueling stations. But, having localized fuel cells for submarines, it
The stock price of SK innovation has recovered to the 200,000 won (US$152.89) range in the Korean stock market. Even in a bull market for secondary batteries at the beginning of this year, burdens from its subsidiary SK on impeded the rise of SK innovation’s stock price. However, as parent company S
Domestic and international flights by Asiana Airlines are likely to face a series of delayed departures starting from July 7 as the airline’s pilots labor union has decided to launch a strike to delay aircraft takeoffs in a legal manner.According to sources in the aviation industry on June 6, the As
Hanwha Ocean (formerly known as Daewoo Shipbuilding & Marine Engineering (DSME)) announced on Jan. 31 that three Russian clients have filed an arbitration with the Singapore International Arbitration Center, claiming damages worth 1.1599 trillion won (US$877.36 million).Hanwha Ocean had previously c
The author is an analyst for Shinhan Securities. He can be reached at wonyong.sim@shinhan.com -- Ed.1Q23 review: Brisk earnings across the boardJeio posted sales of KRW22.6bn (+16% QoQ) and operating profit of KRW3.3bn (+198% QoQ) for 1Q23. Plant engineering and secondary battery materials both deli
The author is an analyst for NH Investment & Securities. He can be reached at esshim@nhqv.com -- Ed.Along with continued high sales growth for casino monitors, a full-scale earnings turnaround at Tovis’s automobile display division is set to start from 3Q23. The recent acquisition of GloquadTech, an
The author is an analyst for Shinhan Securities. She can be reached at sunmi.kim@shinhan.com -- Ed.Dividend cut worries already priced in; annualized dividend yields at 5-9%Real estate investment trusts (REITs) listed on the domestic bourse are now trading 6.6% higher from the previous bottom after
The author is an analyst for Shinhan Securities. He can be reached at hyon@shinhan.com -- Ed.1Q23 OP misses market consensus at KRW11.9bn (-52.3% QoQ)Doosan Tesna reported operating profit of KRW11.9bn (-52.3% QoQ) on sales of KRW74.6bn (-20.2% QoQ) for 1Q23, falling short of the market consensus of
The author is an analyst for NH Investment & Securities. He can be reached at midas.sohn@nhqv.com -- Ed.Asflow’s 1Q23 results met our forecasts. From 2Q23, the supply of high-margin large-diameter construction parts should begin. In addition, sales of IT equipment parts that were delayed are beginni
Korea’s ICT exports in April reached US$12.77 billion, down 35.9 percent from April 2022 when Korea posted the highest April exports ever, according to ICT import and export data released by the Ministry of Science and ICT on April 15. The drop in the ICT exports was blamed on a delay in a recovery
Merger talks are accelerating between Kioxia (formerly known as Toshiba Memory), the world's third-largest NAND flash market player, and Western Digital, the fourth-largest. This is because NAND flash prices have been falling since June 2022, and the two companies already made 30 percent product
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.Kolmar Korea’s 1Q23 results proved weaker than expected due to both a rise in the non-consolidated COGS ratio and sluggish earnings at subsidiaries. However, order growth expectations remain valid a
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Webzen’s release of its own self-developed game, which was expected in 2023, has been postponed to 2024. But, game publishing is to fill the gap. Although we do not expect the immediate launch of
SK hynix is suffering from a double whammy -- a slump in the global memory semiconductor market and geopolitical risk stemming from the US-China hegemonic war.Global market research firm TrendForce recently released a report stating that SK hynix was preparing to shift its production line in Wuxi, C