The global wireless earphone market, which has been dominated by Apple, is going through big changes. Although Apple is still maintaining its No. 1 position, its market share has plummeted as latecomers such as Xiaomi, Samsung Electronics, and JBL have been faring well over the past two quarters and
The Samsung Group founder family’s stake in the group considerably increased after the death of chairman Lee Kun-hee in October last year. Specifically, Samsung Electronics vice chairman Lee Jae-yong’s stake in Samsung Electronics more than doubled from 0.62 percent to 1.44 percent until May this ye
The Bank of Korea announced on Aug. 31 that South Korean institutional investors’ foreign currency securities investment balance increased US$18.5 billion to an all-time high of US$381.1 billion in the second quarter of this year.According to the central bank, the increase is because the prices of t
KOSPI rose 0.33 percent to close at 3,144.19 points on Aug. 30. The index broke the 3,160 point mark during the trading session, and then foreign and individual investors sold their stocks.That day, foreign and individual investors recorded a net selling of 239.9 billion won and 57.6 billion won, re
The Korea Economic Research Institute announced on Aug. 29 that 68.5 percent of South Korean companies adopted telecommuting after the outbreak of COVID-19. “The survey questionnaire was sent to the top 600 non-financial companies in terms of sales and a total of 130 companies answered to the survey
The authors are analysts of NH Investment & Securities. They can be reached at minjae.lee@nhqv.com and ys.jung@nhqv.com, respectively. -- Ed. We expect the SMP to rise to W96/kWh (+63% y-y) in 2H21. Considering that the SMP is: 1) the purchasing price for KEPCO, and at the same time 2) the sales pri
GM Korea has cleared one of the major hurdles for 2021 by wrapping up wage negotiations.The GM Korea labor union endorsed the second provisional wage agreement with a 65.7 percent approval rate in a vote held for two days from Aug. 23.GM Korea's labor and management had a tug-of-war for about th
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Grain prices to ride gradual downcycle; agflation concerns to weakenGlobal asset markets have witnessed a sizable shift since 2H20 due to global agflation concerns stemming from a sustained grain pric
Samsung Electronics has showcased its latest advancements with processing-in-memory (PIM) technology at Hot Chips 33—a leading semiconductor conference where the most notable microprocessor and IC innovations are unveiled each year.Samsung’s revelations include the first successful integration of it
South Korean individual investors are diversifying their overseas investment portfolios. According to Mirae Asset Securities, they invested in 5,638 foreign stocks in 2018 but the current number is 13,420.“Our customers are currently investing in 8,474 U.S. stocks, followed by 1,342 Hong Kong, 1,028
The author is an analyst of Shinhan Investment Corp. He can be reached at doyeon@shinhan.com. -- Ed. COVID-19 expected to create three mini up-cyclesCurrent cycle extended by COVID-19, likely to see 2 corrections and 3 mini up-cyclesThere are concerns that the memory market may be peaking out. The c
BMW Korea, Honda Korea and Jeep Korea considerably increased their sales volumes last month, when South Korean automakers stepped backwards with the only exception of Kia.Last month, Honda sold 327 cars in the South Korean market, up 153.5 percent from a year ago. Jeep Korea’s sales volume increased
The Ministry of Trade, Industry and Energy announced on Aug. 18 that South Korean automakers’ production volume was 297,585 units last month, down 13.9 percent from a year ago.The volume of Hyundai Motor Co., which accounts for almost half of the production, fell 16 percent. That of GM Korea, which
The author is an analyst of NH Investment & Securities. He can be reached at midas.sohn@nhqv.com. -- Ed. Dreamtech saw sluggish smartphone parts earnings in 2Q21 due to reduced new smartphone launch effects at a main client and disrupted handset production due to semiconductor shortages. Earnings sh
The author is an analyst of NH Investment & Securities. He can be reached at ryan.ra@nhqv.com. – Ed. Following up on 1Q21, Pharma Research has delivered another earnings surprise, with its 2Q21 results surpassing consensus. Sales at the medical device division (centering on Rejuran and Conjuran) hav
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. We lower our TP on KEPCO KPS in light of below-consensus earnings and sustained labor cost burden. But, sales growth should kick in from 2H21 on both increased planned preventive maintenance for
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Nongshim’s 2Q21 OP fell 58% y-y, missing consensus. However, a quarterly earnings recovery is expected from 2H21 thanks to an easing of y-y high-base effect, overseas growth recovery, and ASP mark-ups
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. DRAM prices are expected to decline from 1Q22. Memory makers’ investment should turn conservative after price declines, and semiconductor equipment makers are likely to perform sluggishly in 2022.3Q21
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. HiteJinro’s OP fell 21% y-y in 2Q21. As negative impacts from stricter (y-y) social distancing rules and price competition are to continue for now, it is time to take a long-term investment perspectiv
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. In 2Q21, KAL booked an earnings surprise thanks to its strong cargo business. We raise 2021E OP on an upward revision to cargo yield. Despite Covid-19 effects, KAL improved its financial structure by