The author is an analyst for Shinhan Securities. He can be reached at jinmyung.lee93@shinhan.com -- Ed.1Q OP beats consensus at KRW375bn (positive swing QoQ)SK Innovation swung to black from the previous quarter in 1Q23 with anoperating profit of KRW375bn, beating the market consensus of KRW236bn. T
The author is an analyst for NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.Reflecting anticipated AMPC-related gains, we raise our TP on SK Innovation by 13% from W230,000 to W260,000. Specifically, earnings improvement at the battery business stemming from the AMPC should
This year has seen a rush of huge investments by Chinese battery materials makers partnering with Korean companies. In just four months, about five trillion won worth of joint ventures have been announced, led by major companies such as SK On and LG Chem. This is the exact opposite of a previous sit
Global automakers such as Hyundai Motor and Ford have been continuously making contracts with Korean battery makers such as LG Energy Solution, SK On, and Samsung SDI in order to establish joint ventures with them in the United States. On the other hand, concerns are being raised that the battery ma
Individual investors poured tens of billions of won into exchange traded funds (ETFs) on Korean semiconductor companies that are expected to hit lows and rebound in the second quarter while selling off U.S. semiconductor ETFs to realize profits.According to fund evaluator FnGuide on May 7, individua
Samsung Electronics Chairman Lee Jae-yong met with global CEOs of big pharmaceutical companies and bio-venture startup incubation companies in the eastern United States, the world’s largest bio-cluster, to lay the groundwork for the success of Samsung’s biotech business.According to Samsung Electron
The author is an analyst for Shinhan Securities. She can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP reported at KRW107.3bn (+161% YoY, +13% QoQ)Ecopro BM posted operating profit of KRW107.3bn (+161% YoY, 13% QoQ) on sales of KRW2tr (+204% YoY, +3% QoQ) for 1Q23, missing the consensus estimate
Jeonnam Governor Kim Young-rok, who is on a European tour, signed an investment agreement with Linde and Hanyang in Frankfurt, Germany, to create an US$800 million (1 trillion won) blue hydrogen production cluster.Germany’s Linde is the world’s largest industrial gas and engineering company and is a
Shilpan Amin, who oversees General Motors (GM)’s overseas operations, visited Korea to encourage employees at GM Korea. Amin is considered GM’s No. 2. man. South Korea has a production base for the Chevrolet Trax Crossover launched in March. The model has become a hit product in both the Korean and
POSCO International is adding the food business to its portfolio and promoting its transformation into an eco-friendly general business company.As part of its growth strategy announced in April, POSCO International laid out a detailed plan for its food business and presented a plan to grow into one
Samsung Electronics has suffered from an abuse of power at the hands of Broadcom, a U.S.-based semiconductor company, after a similar incident involving Qualcomm. Broadcom had proposed to the Korea Fair Trade Commission (KFTC) to pay 20 billion won (US$15 million) in stimulus funds as a voluntary co
Korea’s dependence on Japan for materials, parts, and equipment has shrunk, but its deficit in the trade of these three items with Japan has been growing, an analysis says.The production and added value amounts of Korea’s materials, parts, and equipment industries grew at an average annual rate of m
The author is an analyst for NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com -- Ed.Formalizes entry into rechargeable battery materials marketVia a recent company briefing, Innox AMC has formalized its entry into the lithium hydroxide (LiOH) market. Related key points include: 1)
The author is an analyst for NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.Samyoung is the only domestic developer and producer of capacitor film. The firm should benefit from the current capacitor film shortage. Also positive, localization of ultra-thin capacitor f
Germany's Merck Life Sciences will set up an Asia-Pacific production facility for biopharmaceutical raw materials and parts in Daejeon, Korea.Merck Life Sciences announced on May 3 that it has signed a memorandum of understanding (MOU) with the Ministry of Trade, Industry and Energy and Daejeon
Taiwan’s TSMC, the No. 1 global foundry company, is reportedly planning to charge up to 30 percent more for semiconductors manufactured in the United States than those made in Taiwan. It remains to be seen if the prices of Samsung Electronics’ chips will be affected by this move.TSMC will reportedly
POSCO Holdings announced on May 3 that it will invest US$441 million (about 590 billion won) to build a new nickel smelting plant in Wedabay Industrial Park on Halmahera Island in Indonesia, ranking first in nickel reserves and production.POSCO Holdings will produce 52,000 tons of nickel mattes at t
SK On has partnered with U.S. mineral company Westwater Resources to develop anode materials for high-performance batteries. This move was made to strengthen a supply chain in the United States in response to the U.S. Inflation Reduction Act (IRA).On March 3, SK innovation announced that it has sign
South Korea has a number of globally competitive weapons besides the KF-21 Fighter Jet according to sources in the defense industry. In particular, the KF-21 is said to outperform the North Korean Air Force’s flagship fighter jet, the MIG 29, and is comparable to Europe’s next-generation fighter, th
The South Korean government won a five-year dispute at the World Trade Organization (WTO) over the unfairness of a U.S. safeguard on washing machines.The WTO Dispute Settlement Body (DSB) adopted a panel report in favor of South Korea in the washer safeguard dispute between the United States and Sou