The labor and management of Hyundai Motor Co. will discuss workforce redeployment and retraining to adapt to the era of future mobility.The company’s Labor-Management Advisory Committee concluded in 2019 that the automaker will have to reduce its workforce by 20 percent as the automobile industry wi
The North Gyeongsang Provincial Government has demanded that the Japanese government immediately remove its inappropriate claim to Dokdo Island in the East Sea from Diplomatic Bluebook 2020, which was published on May 19.“It is absurd and deplorable that the Japanese government claims Dokdo Island b
The National Assembly is planning to amend the Digital Signature Act to discard the public certificate that has been used for 21 years for online banking, housing subscription, electronic bidding, and so on. Although the certificate contributed to e-commerce promotion in its early days, more and mor
The South Korean government announced on May 19 that the Asia Region Funds Passport (ARFP) would be introduced on May 27 so that cross-border fund trading becomes possible.The five current members of the ARFP are South Korea, Australia, New Zealand, Japan and Thailand. ARFP funds registered in one o
The popularity of South Korean companies’ COVID-19 diagnostic kits is on the rise worldwide and South Korean biotech companies’ global business opportunities are expanding at the same time.“Early diagnosis and quarantine is the only way until a COVID-19 cure comes out and, as such, the importance of
The South Korean government will secure hydrogen enough to power 50,000 hydrogen vehicles this year to speed up the establishment of a hydrogen mobility system.The Ministry of Trade, Industry and Energy announced on May 19 that it has provide support to five cities for construction of hydrogen produ
The authors are analysts of Shinhan Investment Corp. They can be reached at sh.kim@shinhan.com and jongseon@shinhan.com. -- Ed. 1Q20 results: LG Corp. beats consensus, CJ Corp. in line, SK Holdings swings negativeLG Corp.’s 1Q20 earnings exceeded market expectations by a wide margin, partly due to o
Samsung Electronics announced on May 19 that it has introduced Samsung ISOCELL GN1, a new 50-megapixel (Mp) image sensor with large 1.2μm-sized pixels. The ISOCELL GN1 is Samsung’s first image sensor to offer both Dual Pixel and Tetracell technologies. Thanks to the relatively larger pixel size, the
The author is an analyst of NH Investment & Securities. She can be reached at jy.lee@nhqv.com. -- Ed. FILA Holdings’ 1Q20 results missed consensus on Covid-19 effects and restructuring costs (Acushnet). Believing that 2Q20 will represent the roughest point, we lower our TP from W49,000 to W41,000.2Q
Four in-house startups of Hyundai Motor Group have been spun off as independent companies.The group announced on May 18 that the four startups -- MYCELL, PM SOL, Wondermove, and ELMCAD – were spun off in May. Since 2000, the group has been operating an in-house startup fostering program. A total of
Korea’s virtual asset exchange Upbit was ranked among the world’s top 10 virtual asset exchanges in terms of the number of visits and liquidity.CoinMarketCap, a global virtual asset data provider, has changed its criteria for assessing virtual asset exchanges from the amount of transactions to inter
Samsung Electronics announced on May 19 that it has launched a new global website dedicated to corporate citizenship.The new website spotlights the inspiring stories of the people who carried out the company’s citizenship activities over the last eight years. The website was created to share their s
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Impacted by ELS hedge-trading losses, KIH posted a 1Q20 net loss of over W100bn. However, the firm’s earnings are expected to recover gradually from 2Q20 onwards.Lower TP to W65,000We revise down our
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Affected by a roughly W120bn loss at the PI business, Kiwoom posted sluggish 1Q20 results. In 2Q20, however, a portion of the PI losses should be recovered, and profits at the retail business should
The author is an analyst of Shinhan Investment Corp. She can be reached at hpark@shinhan.com. -- Ed. 1Q20 review: Earnings surprise at OP of KRW56.1bn (positive swing YoY)Hite Jinro swung into positive territory YoY in 1Q20 with consolidated operating profit of KRW56.1bn. It came as an earnings surp
The author is an analyst of NH Investment & Securities. He can be reached at hyundong.lee@nhqv.com. -- Ed. Spurred by increased sales at the electric train division, Dawonsys’s earnings continued to grow in 1Q20. Having completed a new rolling stock production facility in March, sales should climb f
Korea Gas Corp. (KOGAS) is accelerating the expansion of its overseas natural gas business.The company is currently involved in 25 projects in 13 countries around the world. Its main business areas include natural gas exploration, development and production, LNG liquefaction, overseas city gas pipin
SK E&C has succeeded in landing a front end engineering and design (FEED) order for a large-scale propane dehydrogenation (PDH) plant from Saudi Arabia.SK E&C announced on May 18 that it has signed an FEED contract for a PDH plant and utility and offsite facilities with a joint venture company betwe
Shinhan Financial Group announced on May 18 that it has launched a joint research and development project with Element AI, a Canadian artificial intelligence (AI) software solution company, to advance the AI-based investment advisory platform “NEO” developed by Shinhan AI.Shinhan AI was founded in 2
Huawei held Huawei Global Analyst Summit 2020 in Shenzhen, China on May 18 and released an official statement on additional U.S. sanctions. On May 15, the U.S. Department of Commerce announced that third-country companies using U.S. technologies and components as well as those having manufacturing f