The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Maintain BUY and target price of KRW47,000 We maintain BUY on HiteJinro and our TP of KRW47,000. Although 2Q21 results should be relatively poor because of the stricter Level 2 social-distancing measures put
The authors are analysts of Shinhan Investment Corp. They can be reached at jwsung79@shinhan.com and hanny.lee@shinhan.com, respectively. -- Ed. MoM uptrend in domestic duty-free sales continues in MayCombined sales of domestic duty-free operators came in at USD1.4bn (+0.3% MoM) for May, marking a n
The Korea Semiconductor Industry Association held a seminar on June 24 and said that the DRAM industry of South Korea needs to play a role as its silicon security shield.“DRAM chips are indispensable in artificial intelligence, fighter jets, missiles, and so on and the DRAM industry of South Korea c
Mirae Asset Management announced that Global X Japan, a joint venture formed by Mirae Asset Global Investments Co. and Japan’s Daiwa Securities Group, will newly list four innovative growth-themed ETFs on the Tokyo Exchange on June 23.The new ETFs focus on globally competitive Japanese industrial co
People Power Party lawmaker Yu Eui-dong remarked on June 21 that cryptocurrency transaction-related illegal acts uncovered from January 2018 to May this year amount to 2,024.6 billion won divided into 74 cases.According to the lawmaker, those include 1,331 billion won and 21 cases of illegal foreign
Daewoo Shipbuilding & Marine Engineering (DSME) announced on June 22 that it has formed a global research and development network to develop hydrodynamic technology for eco-friendly smart vessels.The network consists of 15 organizations from at home and abroad, including four universities, five vess
Global consulting firm Mercer announced on June 22 that Ashgabat, the capital of Turkmenistan, is currently the world’s most expensive city to live in for overseas workers, and it is followed by Hong Kong and Beirut. Seoul ranked 11th out of 209 for two years in a row.This year, Tokyo and Zurich wen
Export-Import Bank of Korea (KEXIM Bank) announced on June 21 that it has signed a US$5 billion loan agreement with Abu Dhabi National Oil Co. (ADNOC) of the United Arab Emirates (UAE).ADNOC is a state-run energy company wholly owned by the Abu Dhabi government of the UAE. The company discovers, ref
Hyundai Engineering announced on June 16 that it has signed an MOU on the development of green hydrogen production technologies with six partners, including POSCO, the North Gyeongsang Province government, the Uljin County Office, the Research Institute of Industrial Science & Technology (RIST) in P
Samsung SDS has launched “Brightics Supporters,” which is a team of college students recruited to carry out data analytics tasks by using Brightics AI over the following five months.Brightics AI is an AI-based data analytics platform of Samsung SDS that enables users to quickly collect and analyze m
Hana Bank said on June 10 that it has successfully issued US$600 million worth of ESG bonds.The bank’s ESG bonds are a combination of green bonds and social bonds. They are the first US dollar-denominated public offering bonds that the bank issue since it issued US$600 million worth of public offeri
POSCO Chemical will develop a high-nickel cathode material platform that allows it to quickly mass-produce materials for each model of electric vehicle batteries. High-nickel means a cathode material with a nickel content of more than 80 percent. Nickel is a major cathode material that plays an impo
SK Innovation will be able to supply fireproof battery packs to electric vehicle producers from 2023, a high-ranking company official said on June 9."It is possible to prevent thermal propagation (TP) even in high-density nickel batteries," said Lee Jon-ha, head of SK Innovation's Battery Develo
Samsung SDI is seeking to enter the U.S. battery market by establishing a joint venture battery plant with a global automaker."We are considering entering the U.S. market," the company’s president Jeon Young-hyun said at the battery industry exhibition “Interbattery 2021” held at COEX in Samseong-do
As Edtech startups continue to rake in investment with the newfound demand for remote learning, Ringle, the South Korea-based provider of one-on-one English tutoring lessons and a member of Born2Global Centre, has raised US$18 million Series A funding led by Must Asset Management. The company starte
A plural number of financial firms have submitted letters of intent to acquire the consumer finance unit of Citibank Korea. However, some analysts say that the acquisition process has many hurdles to clear as the potential buyers are negative about vowing not to lay off any of the Citibank Korea emp
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Over Jan~May, domestic apartment pre-sale volume amounted to 130,000 units, a 50,000 unit y-y rise. Based on the 12-month moving total as of May 2021, apartment pre-sale volume stood at 410,000 u
A top official of Moderna said on June 7 that the U.S. pharmaceutical company is considering producing the stock solution for its COVID-19 vaccine in Korea."We are considering producing the mRNA vaccine stock solution in Korea," said Corinne Le Goff, chief commercial officer (CCO) of Moderna, in an
Foreign investors in the South Korean stock market posted a net selling of 10,167 billion won last month. The volume is the largest since March last year.The Financial Supervisory Service announced on June 7 that they recorded a net selling of 9,728 billion won in KOSPI and 440 billion won in KOSDAQ
CS Wind, the world's No. 1 wind turbine tower manufacturer, announced on June 3 that it has acquired a 100 percent stake in a U.S. plant of Danish wind turbine manufacturer Vestas for US$150 million.CS Wind chairman Kim Sung-kwon inked an M&A contract with Vestas chairman Henrik Anderson at the