The authors are analysts of Shinhan Securities. They can be reached at sokang@shinhan.com and inhae.ji@shinhan.com, respectively. -- Ed. Positive development toward removal of China's ban on Korean contentAmid rising expectations for the removal of China’s ban on Korean content, we pointed out i
SK On, a battery subsidiary of SK Innovation, announced on Dec. 26 that it will showcase its high-tech batteries, including Super Fast (SF) Battery, the NCM9 Series and S-PACK, at CES 2023, which takes place in Las Vegas of the United States from Jan. 5, 2023.The company's SF Battery is a high-n
The author is an analyst of Shinhan Securities. She can be reached at inhae.ji@shinhan.com. -- Ed. Seasonality and expectationsStrong performance at the year’s endThe share performance of production companies shows seasonality because of the following reasons. First, global OTT platforms unveil the
The number of cancelled IPOs in the South Korean stock market is likely to reach an all-time high this year. This year’s number is currently 13 according to the Korea Exchange.A total of 70 companies went public in the market this year, whereas the number was 91 last year. The scale of the IPOs decr
The authors are analysts of Shinhan Securities. They can be reached at sanghoonpure.cho@shinhan.com and yk.cho@shinhan.com, respectively. -- Ed. Investor focus: Zero sugar products, beer recovery & interest burdenInvestor focus at Lotte Chilsung Beverage's NDR centered on four topics: sales of z
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. According to Maslow’s hierarchy of needs, individuals must satisfy their lower-level needs first before progressing on towards higher-level goals (ie, one must secure food before catering to taste)
The Fair Trade Commission (FTC) has slapped a fine of 240 million won on KyungDong Pharm for providing rebates to doctors through golf entertainment to drive drug sales.The drugmaker provided unfair economic benefits, such as paying golf expenses worth about 1.22 billion won, to doctors at hospitals
Lotte Mart announced on Nov. 6 that it opened the Food Innovation Lab in Indonesia in October this year to develop home meal kits, including Korean meals, for local consumers.The lab is modeled after the Food Innovation Center in Korea, which is led by chef Kang Leo. It is designed to drive a K-food
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY and TP of KRW110,000 We maintain BUY on LG Electronics (LGE) and our TP of KRW110,000 given the following:(1) The Vehicle Component Solutions (VS) unit should remain profitable, thanks to stronger-
With major companies announcing their finalized Q3 results this week, mixed results are expected from Samsung Electronics and LG Electronics in the automotive electronics business.LG Electronics’ Vehicle Component Solutions (VS) Division is expected to post a profit for two consecutive quarters afte
The unprecedented shutdown of KakaoTalk messenger app that occurred on Oct. 15 clearly exposed the problems of a platform monopoly. The shutdown of the widely used mobile messenger app did not end with the suspension of about 20 related Kakao services. Other companies and government agencies that us
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Kakao’s share price correction is being prolonged by a variety of factors, including economic slowdown, stock market volatility, and share price decline at listed subsidiaries. We expect earnings
Samsung Electronics has forged a partnership with leading international original development manufacturing (ODM) companies such as Atmaca, HKC, and Tempo to enable non-Samsung smart TV models to use Tizen OS.New TVs from Bauhn, Linsar, Sunny, Vispera, and other brands will be available in Australia,
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. We lower our TP on HYBE by 19% to W250,000 in reflection of slowed growth at the platform division, despite solid earnings at the entertainment arm. In spite of significant share price decline due
LG CNS has forged a Global Platinum Authorized Channel Partnership with Unity Technologies, the world's top 3D platform company, to cooperate in the metaverse business.The platinum level is a qualification granted only to partners that have many digital transformation (DX) experts, operate speci
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. We initiate coverage on SM Ent with a Buy rating and TP of W105,000. As a K-pop industry powerhouse, SM Ent has differentiated itself by leveraging its accumulated knowhow in the implementing of ne
Bibigo, a global Korean cuisine brand created by Cheiljedang, announced on Aug. 23 that it held various events to promote K-food at KCON 2022 LA, a Korean pop culture festival held in Los Angeles for three days from Aug. 19 to 21.This year, a sample tasting event was held at Bibigo Food Street to pr
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. YG Ent’s 2Q22 OP topped consensus on strong digital content sales from the global success of Big Bang’s new digital track released in April. A full group return schedule for major artist Blackpink
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 author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Maintain BUY and TP of KRW100,000 We maintain BUY and TP of KRW100,000 for SM Entertainment (SM). We expect 2022E-2024E OP CAGR of 22.9% for SM. Our DCF-based TP assumes 9.81% WACC (9.82% COE; 4.49% after-tax