Sandwiched between luxury German brands and budget local brands, Beijing Hyundai is gradually losing ground in the Chinese automobile market.Beijing Hyundai did not make it to the top 15 in monthly retail sales in May, said the Chinese Passenger Car Association (CPCA) on June 21. The CPCA announces
A boycott of Chinese goods and services has erupted in India, following an armed clash between Indian and Chinese troops in the northern Indian region of Ladakh on June 15. This may benefit Korean companies operating in India.China is India's largest source of imports. According to data from Ind
Taiwan's TSMC will continue on its uptrend in 2021 despite its severance of business ties with China's Huawei under pressure from the U.S. government, a recent report predicted.Credit Suisse predicted in a recent report that TSMC's sales will increase 6 percent from 2020 to reach US$37,7
Daewoong Pharmaceutical Co. announced on June 19 that clinical results on gallstone prevention effects of its liver drug "Ursa" have been published in the SCI-level international journal JAMA Surgery.Published since 1920, JAMA Surgery is the official journal of the Association of VA Surgeons, the Pa
The Federation of Korean Trade Unions and the Korean Confederation of Trade Unions held a press conference on Jan. 9 against the government’s plan to change the minimum wage determination mechanism.The South Korean government’s plan to revise the minimum wage determination mechanism announced in Jan
The Ministry of Economy and Finance announced on June 19 that South Korea’s foreign direct investment totaled US$12.62 billion in the first quarter of this year, down 15.3 percent from a year ago. The investment fell little in January and February but dropped 45.6 percent year on year in March.Korea
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY and raise our TP to KRW145,000We maintain BUY and raise our 12m TP by 11.5% to KRW145,000 (12m fwd BVPS x 1.9x target P/B). Our projections for 2020/21 NP (attributable to controlling interests) we
The author is an analyst of Shinhan Investment Corp. He can be reached at jinmyung.lee93@shinhan.com. -- Ed. 2Q20OP likely in line with consensus at KRW33.8bn (+27% QoQ)We expect Kolon Industries to report operating profit of KRW33.8bn (+27% QoQ) for 2Q20, in line with market consensus of KRW34.8bn.
Korea Exchange announced revised KOSPI listing rules on June 19. The new rules will be approved by the Financial Services Commission and become effective on July 27.According to the new rules, an exchange-traded note (ETN) with a disparity of 100 percent or more can be delisted from the end of next
The South Korean government decided to provide five trillion won for subcontractors in key industries and at least two trillion won for auto parts manufacturers. The measure is an addition to the government’s financial assistance programs worth a total of more than 175 trillion won and released afte
HMM is seeking to attract a new investor in Total Terminal International Algeciras (TTIA), a container terminal in Algeciras, Spain.HMM owns 50 percent minus one share of TTIA with the remaining 50 percent plus 1 share held by HPA, a special purpose company under the control of HMM. The company has
While the United States has partially eased sanctions on Huawei, European mobile carriers such as those in Germany and Sweden are introducing Huawei's telecommunication equipment.Deutsche Telekom, a German telecommunication company, announced that it will continue to use products from Huawei and
A secondary partner of Hyundai Motor has declared a withdrawal from business because of the COVID-19 crisis, raising concerns about production disruptions at first-tier partners and Hyundai Motor itself.Myungbo Industrial, a supplier of crash pads and fuse boxes, sent an official letter to Hyundai M
Korea East-West Power announced on June 18 that it has developed a new catalyst to mass-produce hydrogen using carbon dioxides (CO2).The state-run power company has been working with a research team led by professor Kim Gun-tae of the UNIST since June 2019 to develop a 10 kW hydrogen production syst
The author is an analyst of NH Investment & Securities. He can be reached at will.byun@nhqv.com. -- Ed. We advise focusing on companies with strong business potential rather than those with valuation merit. Amid the spread of Covid-19, the main factors to consider regarding investment in a particula
The author is an analyst of NH Investment & Securities. He can be reached at will.byun@nhqv.com. -- Ed. We hold a Neutral stance towards the steel industry. While China’s steel prices have rebounded on an unleashing of pent-up demand, annual sessions of the NPC and CPPCC in May, and expectations for
The Korea Fair Trade Commission announced on June 18 that it decided to initiate consent resolution in relation to Apple and its suspicion that it abused its market position in doing business with three local mobile carriers.The initiation means that the case can be closed, without any legal complia
The Ministry of Food and Drug Safety announced on June 18 that its approval of Meditoxin Inj., Meditoxin Inj. 50U, and Meditoxin Inj. 150U would be canceled on June 25.According to the ministry, Medytox produced those products by using unauthorized source liquids and tampering with documents from 20
The author is an analyst of NH Investment & Securities. He can be reached at ys.hwang@nhqv.com. -- Ed. With the price of oil remaining below the US$40/bbl-level in 1H20, the industry landscape for the refinery and petrochemical sectors has been transformed. We mainly attribute the steep oil price de
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. While earnings at Samsung C&T’s leisure, food service, fashion, and trading businesses will inevitably be hit by Covid-19 effects, the construction division should display stable earnings thank