KOSPI fell 1.93 percent to 2,236.4 points on Dec. 29, this year’s final session. This year, the index fell 24.89 percent from 2,977.65. This year’s lowest point, 2,155.49, was recorded in September.The aggregate value of the stock market was 1,767 trillion won at the end of last year but decreased 1
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. Due to the advancement of an evaluation model that fully reflects the revised ESG code of best practices, the overall KCGS ESG ratings for 2022 showed decline. In addition, we see distortion in
On Dec. 7, the stock price of LG Electronics plummeted on the news that the launch of Apple’s self-driving electric vehicles will be delayed. LG Electronics was expected to participate in Apple's car project.LG Electronics closed at 93,000 won, down 7.10 percent from the previous trading day. It
The author is an analyst of KB Securities. He can be reached at newday@kbfg.com. -- Ed. Maintain BUY; raise target price to KRW42,000 We raise our 12m TP for Doosan Bobcat by 12.0%, from KRW37,500 to KRW42,000 (12m fwd BVPS x 0.83x target), to accommodate upward revisions to earnings estimates due t
The KOSPI plunged nearly 2% on Dec. 2, as top large-cap stocks, led by Samsung Electronics, which fell more than 3% in market capitalization, showed weakness one after another. The excitement over the possibility of the U.S. Federal Reserve's rate adjustment the previous day was short-lived, and
The Qatar Investment Authority (QIA) is betting big on SK On, which has recently announced a successful attraction of 1.3 trillion won in investment from domestic and foreign investors through a pre-IPO. QIA has US$450 billion worth of assets under management. Its investment capability has sharply i
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. The year 2022 has been tough for Korean Internet and game companies. However, we forecast that these stocks will attempt a rebound going forward. Expecting a return of more reasonable consumption
MBK Partners, the largest private equity fund (PEF) in Northeast Asia with an asset under management (AUM) of more than 30 trillion won, held a conference with institutional investors on Nov. 15. At the conference in Seoul, the PEF that it would increase investment next year. It focuses on investmen
The South Korean government decided to ask 12 public institutional investors, including the National Pension Service, to raise their foreign exchange hedge ratios for their overseas assets. This is expected to result in an additional supply of US$40 billion in the foreign exchange market, which mean
SK Chemicals plans to rack up 2.6 trillion won in sales in the green materials business in 2030, the company's president said in the third-quarter earnings conference call on Nov. 7.“Over 1 trillion won will be invested to expand the production capacity of copolyester, build global infrastructur
Singapore-based Keppel Infrastructure Trust entered the Korean M&A market by acquiring waste disposal company Eco Management Korea on Oct. 21. The asset management firm with an AUM of US$5 billion spent approximately 770 billion won in this deal, about 20 times the company’s EBITDA.According to expe
Hyundai Motor Co. and Kia Corp. announced on Oct. 18 that they will set aside a combined total of 2,904.4 billion won in provisions in the third quarter to prepare for recalls related to Theta GDI engines.The figure breaks down into 1,360.2 billion won for Hyundai Motor and 1,544.2 billion won for K
Model Solution, a subsidiary of Hankook & Company Group (formerly Hankook Tire Group), has become the first Korean prototype company to be listed on the KOSDAQ.Founded in 1993, Model Solution is a total solution provider that serves the entire product development stage from design to prototypes, pre
Democratic Party of Korea lawmaker Han Byung-do remarked on Oct. 5 that domestic residents’ overseas remittances totaled US$744.51 billion in the first half of this year, up 16 percent year on year. The domestic residents consist of individuals, enterprises and the government and the remittances do
The Financial Services Commission announced on Sept. 29 that the Regulations on Financial Investment Business would be revised next month so that details on stock lending and borrowing for the purpose of covered short selling must be reported to the Financial Supervisory Service on the 90th day of t
The Fed’s interest rate policy jolted South Korean financial markets again. On Sept. 22, the won-dollar exchange rate surged from 1,394.2 won to 1,409.7 won to top 1,400 won for the first time since March 20, 2009. This is the third time in history that the rate topped that level.The exchange rate m
POSCO Holdings' sales are growing, but its profits are on the decline due to cost and expense burdens. Its cash flow from operating activities appears to be deteriorating due to a spike in inventories and trade receivables. Experts say that its overall business deterioration is accelerating with
Samsung Electronics will soon announce an environmental management strategy that aims to attain carbon neutrality by 2050.The company is expected to commit to carbon neutrality by 2050 and declare its membership in RE100 through an announcement of its environmental management strategy this week.RE10
The author is an analyst of KB Securities. He can be reached at jk.lim@kbfg.com. -- Ed. Lower weight in 3y KTBs, raise weight in long-term KTBs (10y or longer)KTB yields, which had been stabilizing, have rebounded, edging near their previous peaks. During the Jackson Hole Economic Symposium, Fed Cha
Attention is focusing on Hyundai Motor Group’s reorganization plan. Hyundai Motor Co. and Kia developers are scheduled to be relocated to recently acquired autonomous driving startup 42dot, and Hyundai Mobis, a core subsidiary of the group, is planning to set up module and component production subsi