The Ministry of Trade, Industry and Energy announced on Nov. 14 that POSCO is expected to completely recover itself from typhoon damage in the first quarter of next year.According to its damage investigation results, Hinnamnor caused a flood near its plants, the water flowed in to affect power recei
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Maintain BUY, target price of KRW79,000; top Insurance pick We maintain BUY and TP of KRW79,000 on Samsung Life. 3Q22 earnings fell way below our estimate and the market consensus, yet we maintain BUY because a
LG Uplus announced on Nov. 13 that it will provide connected car services to new cars to be launched by Hyundai Motor Group, including the Genesis brand, Hyundai Motor Co. and Kia Corp., for the Korean market beginning from January 2023.In the case of Hyundai Motor Co., the company's partner for
LG Energy Solution has recently signed a contract with Compass Minerals of the United States for a long-term supply of lithium carbonate. The two companies already signed an MOU on lithium supply in June of this year.Through the latest contract, LG Energy Solution will receive 40 percent of the Comp
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com. -- Ed. Given discussions on mid/long-term supply contracts with three domestic cell makers, we expect that SKC’s capacity expansion drive will further accelerate, centering on North America.Capacity expa
Doosan Enerbility announced on Nov. 10 that it has signed a 1.6-trillion-won contract with Korea Hydro & Nuclear Power (KHNP) to build turbine islands for the El-Dabba Nuclear Power Plant in Egypt. This is the first time Doosan Enerbility has won an overseas nuclear power plant construction project
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed. KEPCO stock surged 8.77% DoD on expectations of rate hike— On Nov 9, KEPCO stock surged 8.77% DoD to close at KRW18,600. We attribute the jump to expectations of a marked increase in electricity rates next
Dong-A ST announced on Nov. 9 that it has attracted US$32.3 million in investment from NeuroBo Pharmaceuticals under a technology licensing-out and equity investment deal with the U.S. company.In September, Dong-A ST transferred to NeuroBo its exclusive worldwide development and sales rights for DA-
The Ministry of Trade, Industry and Energy and Korea Hydro & Nuclear Power (KHNP) had a meeting on Nov. 9 and decided to form a consortium and formulate detailed plans so that their nuclear power plant construction project in Patnow, Poland can proceed well.KHNP signed a letter of intent on Oct. 31
Chinese shipbuilders are winning a growing number of orders in the liquefied natural gas (LNG) carrier market, the stronghold of Korean shipbuilders. Some say this is a temporary phenomenon resulting from the full booking of Korean dockyards. But this may cause an oversupply of LNG carriers around t
Samsung Electronics' share of the global DRAM market has fallen to an eight-year low.According to a report released by Eugene Investment & Securities on Nov. 8, the global DRAM market posted US$17.973 billion in sales in the third quarter, down 29.3 percent from US$25.427 billion in the second q
The Federation of Korean Industries said at a recent seminar that every main industry of South Korea will have to struggle next year, with the only exception of shipbuilding.According to the federation, South Korean shipbuilders’ order backlogs are already large, with the global LNG carrier demand c
Daesang announced on Nov. 7 that it would establish a joint venture with a Polish company to set up a kimchi plant in Poland and enter the kimchi market in Europe. The Korean food giant plans to make Poland a production base in Europe. It built a kimchi plant in Los Angeles in March this year to pen
As a global energy crisis deepens, demand for LNG floating storage and re-gasification units (LNG-FSRUs) is also on the uptick. They are emerging as a new cash cow for Korean shipbuilders, who boasts unrivaled leadership in this field.According to Clarkson Research, a British shipbuilding and shippi
SK On, a global leading electric vehicle (EV) battery manufacturer, announced on Nov. 6 that it signed a lithium hydroxide supply deal with Chile’s SQM.The move follows the company's recent deals with Australian lithium developers and will further strengthen its supply chain for critical battery
The international lithium carbonate price more than tripled in one year to reach 557.5 yuan per kilogram on Nov. 2. In contrast, the prices of other battery minerals, including nickel, cobalt and manganese, fell more than 20 percent this year for recession concerns.This is because lithium is being u
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed. We maintain BUY but slash target price 35.8% to KRW43,000 We slash our TP on Hyundai Steel by 35.8% (KRW67,000→KRW43,000) to reflect (1) a decline in short-term ROE, as sluggish steel market conditions are
Hyundai Motor Group and Lotte Group are forging an alliance to strengthen their electric vehicle (EV) charging infrastructure business.The two groups plan to sign a contract within this month at the earliest to establish a special purpose corporation (SPC) to jointly carry out the superfast EV charg
POSCO is stepping up efforts to bring Pohang Works, which was shut down due to Typhoon Hinnamnor, back to life. But a prolonged production suspension is causing growing damage to partner companies in the backend process.A company in Pohang engaged in a business related to steel by-products generated
The market share gap between Korea and China in the global display market is expected to widen to more than 10 percentage points this year.China’s display market share is expected to rise to 43 percent this year from 41.5 percent in 2021. Korean companies logged a market share of 33.2 percent in 202