The Fair Trade Commission (FTC) is expected to conditionally approve the business combination between Korean Air and Asiana Airlines. Some of the two airlines’ exclusive routes are likely to be distributed to foreign airlines, not Korean low-cost carriers.Industry watchers say that it is difficult t
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. Reflecting higher mid/long term passenger yield forecasts, we upwardly adjust 2023F OP by 8%, in turn raising our TP from W3,200 to W3,800. However, we adhere to a Hold rating for now in consideratio
Korea Gas Corp. (KOGAS) is aspiring to transform itself from a natural gas supplier to a hydrogen platform operator. The state-run corporation disclosed its new vision in a ceremony in Daegu on Sept. 27. KOGAS president Chae Hee-bong said the company will attain three trillion won in operating profi
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. With Covid-19 continuing to spread, domestic passenger demand is slowing and yields are falling. In contrast, air cargo demand remained solid in July. In 3Q21, LCCs are expected to continue raising c
The author is an analyst of Shinhan Investment Corp. He can be reached at jwsung79@shinhan.com. -- Ed. 2Q21consolidated OP beats consensus at KRW46.4bn (TB YoY)Hotel Shilla posted consolidated operating profit of KRW46.4bn for 2Q21, exceeding our estimate (KRW45.1bn) and the consensus (KRW37.2bn). D
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. Jeju Air has announced plans for a capital reduction involving a par value decrease, as well as plans for a paid-in capital increase. But, these measures have already been widely expected as Jeju Air
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. Due to the recent resurgence in Covid-19, expectations towards a passenger demand recovery are being somewhat dampened. But, the mid/long-term direction for the recovery remains intact. Passenger dem
The authors are analysts of Shinhan Investment Corp. They can be reached at jwsung79@shinhan.com and hanny.lee@shinhan.com, respectively. -- Ed. MoM uptrend in domestic duty-free sales continues in MayCombined sales of domestic duty-free operators came in at USD1.4bn (+0.3% MoM) for May, marking a n
Korean Air will supply two of its new hybrid unmanned vehicles for a firefighting drone project on Jeju Island, one of Korea’s most popular vacation spots, the company announced on June 15.The airline has signed an agreement with Jeju Fire Safety Headquarters to provide drones to monitor accident an
The Moodie Davitt Report reported on June 2 that Louis Vuitton is likely to withdraw from downtown duty-free shops in multiple countries, including South Korea.“This is because Chinese peddlers are continuing to make bulk purchases at the shops while Louis Vuitton is beefing up its upmarket marketin
The authors are analysts of Shinhan Investment Corp. They can be reached at jwsung79@shinhan.com and hanny.lee@shinhan.com, respectively. -- Ed. April domestic duty-free sales up 9.6% MoMCombined sales of domestic duty-free operators came in at USD1.39bn (+9.6% MoM; KRW1.56tr) for April. Duty-free s
Doosan Heavy Industries & Construction (DHIC) has signed a memorandum of understanding (MOU) with Libotech, which specializes in the continuous pyrolysis of plastic waste, to develop hydrogen production technology using plastic and vinyl waste.Libotech will produce gas through continuous pyrolysis o
Doosan Heavy Industries & Construction (DHIC) is accelerating production of clean hydrogen such as blue hydrogen and green hydrogen.The company announced on May 3 that it will produce blue hydrogen at its hydrogen liquefaction plant, which is now under construction on the premise of its Changwon pla
The authors are analysts of Shinhan Investment Corp. They can be reached at jwsung79@shinhan.com and hanny.lee@shinhan.com, respectively. -- Ed. 1Q21 consolidated OP beats consensus at KRW26.6bn (TB YoY)Hotel Shilla posted consolidated operating profit of KRW26.6bn (positive swing YoY) on sales of K
The author is an analyst of NH Investment & Securities. She can be reached at jy.lee@nhqv.com. -- Ed. In 1Q21, Hotel Shilla enjoyed sharp profitability improvement, thanks to: 1) increased high-margin sales to small and medium-sized resellers; and 2) the closing of an IIA T1 DFS location. As of 2Q21
Doosan Group is exploring ways to expand its hydrogen business. It recently established a hydrogen task force consisting of experts from its affiliates including Doosan Heavy Industries & Construction (DHIC) and Doosan Fuel Cell (DFC). External consulting firms are also participating in the task for
The authors are analysts of NH Investment & Securities. They can be reached at ys.jung@nhqv.com. -- Ed. 1. Governments announcing policies to achieve carbon neutrality in line with implementation of Paris Agreement in 2021Execution of Paris Agreement ratchets up from Jan 2021With implementation of t
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. While passenger demand is expected to recover from 2H21, the level of annual demand recovery is likely to prove moderate in 2021. Accordingly, Jeju Air will need to make moves to secure additional li
A green sea turtle released in Jeju five months ago recently settled in the eastern coastal area of Vietnam.The National Marine Biodiversity Institute of Korea released multiple green sea turtles in Jeju in September last year. An identification tag was attached to each and satellite-based trackers
Korea Midland Power announced on Feb. 24 that renewable energy-based power generation would account for 30 percent of its total power generation in 2030, and it would lead energy source transformation by leading the development of the hydrogen economy.The state-run power company is taking part in va