Saudi Arabian Crown Prince Mohammed Bin Salman Al Saud is scheduled to visit South Korea on Nov. 17 and 18. The purpose of his visit is to seek investors and companies to join the Neom City project.The project is to build a low-carbon smart city in desert and mountain areas near the Red Sea. The tot
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Maintain BUY, target price of KRW250,000 We maintain BUY and TP of KRW250,000 on Naver. In 3Q22, focus defending OPM via cost efficiency despite difficult operating conditions. Also, Naver has been aggressive
ArkData has registered Ark for CDC, a real-time heterogeneous data replication solution, and Ark for FR, a file replication solution, on Kakao i Cloud Marketplace.The Marketplace registration allows customers who need data replication on Kakao i Cloud to get the service efficiently in a monthly subs
Naver, which once climbed to the third place by market capitalization in the Kospi market, has been pushed out of the top ten.On Oct. 27, Naver came in 11th with a market cap of 26,411.9 billion won. On the previous day, it stood at 10th place.As Naver fell out of the top 10, all internet companies
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Maintain BUY but cut target price 28.6% to KRW250,000 We cut our TP by 28.6% (KRW350,000→KRW250,000) on Naver. We revise down 2022E/2023E OP by 7.7%/13.3% to reflect M&A-driven changes in structural mix (i.e.
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Fire at SK C&C’s Pangyo data center shuts down KakaoTalk, other key platforms— On Oct 15, a fire broke out at 3:33 p.m. at SK C&C’s Pangyo data center (building A’s electrical room, sublevel three).— The data
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 combined market capitalization of the top 30 Korean business groups has plunged by about 300 trillion won since the end of last year. Samsung Electronics’ market cap fell by 28 percent, while Naver and Kakao, leading growth stocks, saw their market value cut in half.The aggregate market value of
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 Korea Exchange announced on Sept. 25 that the aggregate market value of KOSPI and KOSDAQ dropped approximately 620 trillion won in just one year.The indices closed at 2,290 and 729.36 points on Sept. 23, respectively. KOSPI dropped 30.7 percent compared to its all-time high, 3,305.21, recorded o
Corporate tracker Leaders Index announced on Sept. 12 that BlackRock is the foreign PEF with the largest shareholding in the top 500 South Korean enterprises in terms of sales.According to the announcement, the 500 enterprises include 73 with a PEF shareholding of at least 5 percent and the 73 consi
The Korea Fair Trade Commission has disclosed the shareholding data on 76 major business groups, each with a total asset of at least five trillion won, and their 2,886 subsidiaries.According to the data released on Sept. 7, the groups include 10 ownerless groups, which have 180 subsidiaries. In the
The Korean won-U.S. dollar exchange rate surged last month, led by the Fed’s hawkish stance. The rate topped 1,350 won in about 13.5 years on Aug. 29 before closing at 1,362.6 won on Sept. 2.Still, foreign investors recorded a net buying of 3.9837 trillion won in the South Korean stock market last m
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Initiating coverage with BUY and TP of KRW350,000 We initiate coverage of Naver with a BUY rating and target price of KRW350,000 (49.6% upside). We forecast 2022E-2024E OP CAGR of 20.7%. Derived using the DCF
U.S. virtual asset exchange FTX is reportedly in talks to acquire Bithumb, the second-largest virtual asset exchange in Korea. Yet, sources informed in the matter say that the deal may be hampered by legal risks involving Lee Jung-hoon, the former chairman of Bithumb Holdings who is on trial for fra
Korea CXO Institute announced on July 13 that the combined market cap of 2,441 companies listed in South Korea dropped from 2,575 trillion won to 2,095 trillion won in the first half of this year and more than 80 percent of the companies showed a decrease in market cap in that period.“With the stock
The Federation of Korean Industries announced on July 12 that the global top 100 ICT companies in terms of market capitalization include only two South Korean companies and they are Samsung Electronics and SK Hynix in the ninth and 56th places, respectively.“The 100 companies include 56 U.S., nine C
Foreign investors are continuing to sell South Korean stocks. Their net selling in KOSPI amounted to more than 15.24 trillion won from Jan. 3 to July 6, when KOSPI dipped below 2,300 points for the first time in 20 months. For reference, the amount was 24.5652 trillion won in 2021 as a whole.From Ja
The number of overseas affiliates set up by Korean conglomerates soared in the United States, but fell in China last year.As of the end of May this year, the 76 Korean business groups with assets exceeding 5 trillion won were practically controlling 5,287 subsidiaries in 123 overseas countries, the
The author is an analyst of Shinhan Investment Corp. He can be reached at ym.ko@shinhan.com. -- Ed. 2022 likely to be different from 2021Companies saw a meaningful rebound in both earnings and share prices in 1H21 on the start of shipments to Samsung Electronics for equipment bound for Verizon. Howe