The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.According to their monetary principles, central banks respond to fundamentals with base rate policy and to financial instability with temporary liquidity provision. Expectations for a rate hike or cut
Samsung Electronics is expected to spend approximately 10 trillion won more on the construction of a foundry plant in Taylor, Texas, in the U.S. than initially expected, drawing attention to the Korean semiconductor giant’s investment strategy on facilities over a sluggish period in the world semico
Hanwha Aerospace announced on Feb. 22 that it has invested a total of US$17.8 million in Fortem Technologies together with Lockheed Martin of the United States through a simple agreement for future equity (SAFE).A SAFE is an agreement between an investor and a company where the investor provides a c
Samil PwC said in its report on Feb. 13 that the domestic shipping industry can realize economies of scale through mergers and acquisitions (M&As) and discover new growth engines through business diversification.According to the report, a total of 12 M&A deals worth 19.73 trillion won in total were
Pernod Ricard Korea donated 100 million won in scholarships to 54 Gugak talented students at the National Gugak School to foster performers who will lead the next generation of Korean traditional arts and music culture.Frantz Hotton, CEO of Pernod Ricard Korea, congratulated scholarship recipients a
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Change in management strategy includes lowered shareholder return target— Woori FG reported 2022 consolidated NP (attributable to controlling interests) of KRW3.17tn (+22.2% YoY). — Although KRW-based loans inc
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Suggested mid-term shareholder return of 30-40%; 4Q22 earnings miss on large-scale costsㅡ 2022 consolidated NP (attributable to controlling interests) came in at KRW4.64tn (+15.5% YoY). — NII rose 17.9% YoY wit
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. SM Entertainment to issue new shares, convertible bonds to Kakao ᅳ SM Entertainment recently decided to issue 1.23mn shares worth KRW111.9bn (KRW91,000/ share) to be allotted to Kakao. The payment date is sch
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Maintain HOLD, target price of KRW7,000 We maintain HOLD on MAS given the following:(1) Although 3Q22 valuation losses of ~KRW52.7bn in IB-related stocks were partially reversed, a recovery in trading & financi
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Maintain BUY, target price of KRW15,500 We maintain BUY and TP of KRW15,500 on Woori FG given the following:(1) The firm has less earnings uncertainty than its peers given that it has relatively few non-banking
The author is an analyst of KB Securities. He can be reached at wchun@kbfg.com. -- Ed.Order intake slowdown considered positiveㅡ On Jan 18, SK innovation stock retreated 9.4% MoM, underperforming the KOSPI, which gained 0.2% MoM. The bearish performance seems to be attributable to SK on’s withdrawal
DL E&C announced on Jan. 18 that he has decided to make a strategic investment in X-Energy, a U.S. company developing small modular reactor (SMR) technology.DL E&C will invest US$2 million to take over the convertible bonds issued by X-Energy. Doosan Enerbility, a domestic nuclear power equipment co
The Korean Defense Acquisition Program Administration (DAPA) announced on Jan. 17 that the KF-21 Boramae, a Korean-made fighter jet, has successfully completed its first supersonic flight.According to DAPA, the first KF-21 prototype broke Mach 1.0 for the first time at an altitude of about 40,000 fe
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed. National Assembly rejects revisions to KEPCO Act— On Dec 8, the National Assembly rejected revisions to the KEPCO Act that would raise the ceiling for bond issuances. The KEPCO ceiling is currently set at
Major Korean battery and battery material producers are announcing large-scale investments in the U.S. state of Tennessee. On Nov. 28 (local time), Tennessee’s Funding Board decided to provide subsidies of US$40 million to LG Chem for its establishment of a cathode material plant. The state subsidie
The author is a strategist of NH Investment & Securities. He can be reached at lawrence.kim@nhqv.com. -- Ed. With the Covid-19 pandemic retreating, people are finally returning to the streets and resuming their normal daily lives. However, through the pandemic, the economy is now experiencing brisk
The authors are analysts of Shinhan Securities. They can be reached at sehunjang@shinhan.com and shawn1225@shinhan.com, respectively. -- Ed. Time to price in the value of next-generation FcRn inhibitorHanall Biopharma’s recent share price trend suggests that the removal of uncertainty in the clinica
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. In 2022, there has been a mix of expectations and concerns for the insurance sector, as interest rates (the biggest variable for fundamentals) have jumped faster than expected and IFRS17 is set to be
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. In 2022, healthcare stocks have been performing sluggishly in the NY stock market, affected by drastic absorption of market liquidity since early-2022. Given that 10-yr discounted cash flow is the mo
Lotte Chemical plans to hold a board of directors meeting this week at the earliest to finalize a plan to increase capital. While a paid-in capital increase of at least one trillion won is likely, the company is expected to review other funding methods such as bond issuance and borrowing from financ