The initial public offering of SK IE Technology (SKIET) attracted 81 trillion won in subscription deposits from ordinary investors. It is the largest-ever subscription deposit amount in Korea’s IPO history. The competition rate was 288.17 to 1. Stock market analysts say that many subscribers will go
The authors are analysts of Shinhan Investment Corp. They can be reached at jwsung79@shinhan.com and hanny.lee@shinhan.com, respectively. -- Ed. 1Q21 consolidated OP comes in at KRW176.2bn (+189.2% YoY)Amorepacific posted consolidated operating profit of KRW176.2bn (+189.2% YoY) on sales of KRW1.25t
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. Prior to the introduction of the HPS, concerns are likely to remain in play over lackluster orders. However, fuel cell market growth forecasts for 2022 remain unchanged thanks to the planned introduc
The Asian Forest Cooperation Organization (AFoCO), which was launched under a Korean government's initiative, become an official development assistance (ODA)-eligible international organization on April 27 with unanimous approval from members of the Development Assistance Committee (DAC) of the
Aramco Asia Korea (Aramco Korea), a fully-owned subsidiary of Aramco, announced on April 28 a partnership with the MIDAM Scholarship Foundation (MIDAM) and the Ulsan National Institute of Science and Technology (UNIST) to continue the Aramco Coding School, a second-year computer programming class th
Hanwha Solutions plans to develop technologies to chemically recycle plastic by 2024. The company announced on April 27 that it has been selected as the main operator of the Waste Plastic Pyrolysis Oil-Based Naphtha Production Technology Project, a national project pushed by the Ministry of Trade, I
The Seoul Main Customs of the Korea Customs Service announced on April 27 that it detected 61 foreigners who illegally purchased apartments in Seoul by investigating 500 persons who bought apartments priced at over 500 million won in Seoul for the past three years with the source of the money unclea
Foreign fund operators’ concerns are mounting with Citibank having decided to withdraw from the South Korean retail finance market.According to the Korea Financial Investment Association, the principal of Fidelity International funds sold via Citibank Korea until the end of February this year is 493
The COVID-19 vaccine task force of the South Korean government met with Novavax CEO Stanley Erck in Seoul and announced on April 27 that it would expedite approval procedures for a quicker Novavax vaccine supply to South Korea. In addition, the government and the company are going to try to extend t
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed. 1Q21 review: Stronger-than-expected OP despite sluggish revenue— HDC reported 1Q21P consolidated revenue of KRW694.6bn (-31.0% YoY/-22.3% QoQ), OP of KRW118.4bn (-13.7% YoY/-29.7% QoQ) and NP (attributabl
The family of the late Samsung Electronics chairman Lee Kun-hee announced on April 28 its plans for the payment of all the taxes related to inheritance and to make philanthropic donations to uphold his legacy and contribute to the creation of a better society.Pledging to continue the late chairman’s
BGF Retail announced on April 27 that it has signed an agreement with UNICEF Korea to support Mongolia's eco-friendly and high-efficiency ger construction project.The signing ceremony was held at the office of UNICEF Korea in Seoul with the attendance of Lee Kun-joon, CEO of BGF Retail, and Lee
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. The real estate market is viewing the recently-announced designation of land transaction regulation zones in Apgujeong-dong, Yeouido-dong, Mok-dong, and Seongsu-dong as a signal to promote recons
A significant change is anticipated in large corporations’ labor-management relations as office workers at LG Electronics, Hyundai Motor Group, Kumho Tire, and so on are forming their own unions to separate themselves from existing unions led by manufacturing workers. This trend was triggered in Jan
White-collar workers of Hyundai Motor Group (HMG) will launch their own union separate from the current blue-collar workers-oriented one on April 26. They mostly belong to the so-called “MZ generation,” which encompasses millennials and Generation Z, or those who were born in the 1980s and early 200
Lotte Property and Development announced on April 22 that it will have a 100 percent stake in Lotte World Tower and Lotte World Mall in Seoul by acquiring a 25 percent stake held by Lotte Shopping and Hotel Lotte for 1.4 trillion won.Previously, Lotte Shopping owned a 15 percent stake and Hotel Lott
Hana Financial Group will supply a total of 60 trillion won for environmental, social and governance (ESG) finance by 2030. By 2050, it will pull out of coal-related project financing (PF) and achieve zero carbon emissions.The group announced its mid- to long-term goals of “2030 & 60” and “Zero & Ze
The Korea Power Exchange has participated in Locked Shields 2021, the world’s largest and most complex international cyber defense exercise involving 24 NATO member states.Exercise Locked Shields was launched following a 2007 blackout in Estonia, which was recorded as the first cyberwar.Locked Shiel
LS Group invited the ASEAN Committee in Seoul, which consists of the 10 ASEAN member countries’ ambassadors to Korea, to LS Yongsan Tower on April 22.The 10 ASEAN members are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.The LS Group was repre
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Since Nov 2020, the market cap of the top seven major construction firms has risen 60%. However, valuation burden remains limited. Considering the outlook for the domestic construction market in