SK Group Chairman Chey Tae-won visited China to attend the Boao Forum, which is sometimes called the Asian version of the Davos Forum.According to industry sources on March 28, Chairman Chey will participate in the Boao Forum held in Boao, Hainan Province of China for four days from March 28 to 31.
The Korea Institute for Industrial Economics and Trade said in its report on March 27 that the global defense and arms procurement budgets are estimated to increase by US$2 trillion and US$600 billion from 2023 to 2032, respectively.“Another arms race is ongoing across the world after the outbreak o
POSCO International has identified carbon capture and storage (CCS) as a future growth driver and started to seriously develop the business. To this end, in February the company launched a CCS Business Promotion Team under its Energy Business Division to speed up its CCS business.The reason behind P
SK Inc. announced on March 16 that it signed a contract to sell all of its stake in Turo, a peer-to-peer (P2P) vehicle-sharing platform, for US$67.5 million (approximately 88.1 billion won).SK Inc. aims to wrap up the transaction within the first half of this year by selling its holdings to existing
The author is an analyst of KB Securities. She can be reached at shinay.park@kbfg.com. -- Ed. Shares trading at P/E of 7x, lowest since 2003We maintain BUY on Coway but cut our TP by 11% to KRW80,000. Despite steady earnings and a diverse business portfolio, the stock has been struggling due to the
The weight of overseas orders to Korean construction companies is shifting from the Middle East, a traditional strong source of contracts, to Asia.According to the International Contractors Association of Korea on Feb. 22, Asian orders were the largest at about US$12.2 billion among total overseas o
The following are excerpts from an interview with Myeong Seong, CEO of SK Earthon, about the company’s plans to become a “carbon neutral company” after 40 years of leading the Korean resource development industry.Q: Through an interview at CES 2023, you remarked that this year SK Earthon is going to
The central banks of South Korea and Indonesia extended their 10.7 trillion won (US$8.24 billion) currency swap agreement on March 6. The new contract period is until March 6, 2026.The two countries signed their first currency swap agreement in 2014 and extended it in 2017 and 2020.At present, South
Korea Aerospace Industries (KAI) will export 18 FA-50 light fighters worth 1.2 trillion won to Malaysia. The Korean defense contractor is rapidly entering the Southeast Asian market as it has already exported the fighters to Indonesia, the Philippines and Thailand.KAI signed a US$920 million contrac
POSCO International announced on Feb. 22 that it has obtained the right to explore and operate an offshore natural gas field in Indonesia.The company secured the right to develop the Bunga Sector through an international tender organized by the Indonesian government. It formed a consortium with PHE,
The Korea Customs Service announced on Feb. 21 that South Korea’s trade deficit was US$5.987 billion for the first 20 days of this month, about 330 percent of that recorded in the same period of the previous year. For the first 51 days of this year, the trade deficit amounted to US$18.639 billion, n
The author is an analyst of NH Investment & Securities. He can be reached at jaekwang.rhee@nhqv.com. -- Ed. We view our key investment points for KAI as remaining valid, namely: 1) anticipated additional overseas orders for the FA-50 amid rising global security threats; and 2) a likely rebound in ai
Coway Co. reported its financial results for the fourth quarter and fiscal year 2022 on Feb. 15.In the fourth quarter, the company earned 163.7 billion won (+17.5% YoY) in operating profit and 76.1 billion won (-12.9% YoY) in net profit on sales of 980.2 billion won (+3.6% YoY).For the whole of 2022
The authors are analysts of Shinhan Securities. They can be reached at jinmyung.lee93@shinhan.com and cgh815@shinhan.com, respectively. -- Ed.4Q22 operating loss of KRW24.3bn (TR QoQ) misses consensusSKC swung to an operating loss of KRW24.3bn in 4Q22, missing the consensus estimate of a KRW33.4bn p
The central banks of South Korea and Australia extended their currency swap agreement by five years to Feb. 5, 2028.The scale of the agreement is 12 billion Australian dollars without change, and the other terms also remain the same. The first currency swap agreement between the two central banks wa
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed.4Q22P operating loss of KRW425.0bn (turn to red YoY) misses market consensusㅡ POSCO Holdings reported 4Q22P revenue of KRW19.2tn (-9.8% YoY, -9.0% QoQ), operating loss of KRW425.3bn (turn to red YoY/QoQ) an
SPC Group announced on Jan. 19 that it opened the first branch of Paris Baguette Malaysia in Kuala Lumpur, the capital of Malaysia.The opening of the branch came six months after the establishment of Berjaya Paris Baguette, a joint venture between SPC and its Malaysian partner Berjaya Group, in June
SKC is nearing a decision on the sites for its North American copper foil plants. The company is pushing for a plan to build a factory each in the United States and Canada. In the United States, Georgia is considered a strong candidate.“We compared Georgia with five other states and found that Georg
The authors are analysts of Shinhan Securities. They can be reached at idh@shinhan.com and jiunmyoung@shinhan.com, respectively. -- Ed.4Q preview: Brisk earnings, growing parts demand, falling forexKorea Aerospace Industries is likely to have recorded sales of KRW761.5bn (-4.4% YoY) and operating pr
The authors are analysts of Shinhan Securities. They can be reached at jhwon@shinhan.com and snowKH@shinhan.com, respectively. -- Ed.4Q22 preview: Earnings to come in line with consensusWe now expect PharmaResearch to post consolidated operating profit of KRW18.9bn (+49.5% YoY, operating margin of 3