Korean battery material companies, including LG Chem, are accelerating the localization of key precursor materials for cathodes following the implementation of the U.S. Inflation Reduction Act (IRA) this year. As domestic production is expected to increase significantly from next year, attention is
Small and medium-sized Korean cosmetics companies are making a splash in the Japanese market.According to industry sources on May 23, small and medium-sized Korean beauty brands are making great achievements in the Japanese market as they are targeting online and offline simultaneously based on thei
The author is an analyst for Shinhan Securities. He can be reached at yk.cho@shinhan.com -- Ed.1Q23 review: Growth led by China demandCosmax NBT posted operating profit of KRW1.5bn (+101.1% YoY) on sales of KRW80.4bn (+2.3% YoY) for 1Q23, missing our estimate of KRW2.2bn. The parent recorded a 6.8%
Once recognized as a profitable commodity, secondary batteries recorded their first-ever trade deficit this year.The deficit can be attributed to the Korean battery industry’s expanded overseas investment in response to new trade environments like the U.S. Inflation Reduction Act (IRA) and the sharp
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.Shinsegae International’s 1Q23 OP arrived well wide of consensus on both the exit of some imported fashion brands and heftier one-off labor costs. Annual earnings estimate cuts are unavoidable, but
After the outbreak of the U.S.-China trade conflict, in the U.S. imported semiconductor market, the share of Chinese-made semiconductors shrank by one-third while that of Taiwanese-made products has doubled over the past four years. That of Korean-made chips inched up a bit as well.China’s share of
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.Handsome’s 1Q23 results arrived in line with consensus, backed by loyal customers for the firm’s in-house brands (Time and Mine). Underpinned by solid in-house brand performance, a virtuous cycle of
Korea’s shipping industry and a seafarers’ union have called for a halt to the overseas sale of Hyundai LNG Shipping, the country’s largest carrier specializing in liquefied natural gas (LNG) transportation.The Federation of Korea Maritime Industries (FKMI) put out a statement on May 8, taking issue
This year has seen a rush of huge investments by Chinese battery materials makers partnering with Korean companies. In just four months, about five trillion won worth of joint ventures have been announced, led by major companies such as SK On and LG Chem. This is the exact opposite of a previous sit
New registrations of imported cars slowed down amid high interest rates in Korea in April.The Korea Automobile Importers & Distributors Association (KAIDA) said on April 4 that new registrations of imported passenger cars totaled 20,910 units in Korea in April, down 12.3 percent from 23,840 units in
The South Korean government won a five-year dispute at the World Trade Organization (WTO) over the unfairness of a U.S. safeguard on washing machines.The WTO Dispute Settlement Body (DSB) adopted a panel report in favor of South Korea in the washer safeguard dispute between the United States and Sou
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.F&F achieved a consolidated basis OPM of 30% in 1Q23. Despite tepid duty-free channel results, tourist area sales were brisk, helping to allay concerns over domestic demand. Given MLB China’s monthl
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.In order to check on Chinese consumption channels, we visited major shopping malls and brand stores in Shanghai. Given clear consumption polarization, entry of various imported brands and expansion
Korea's terms of trade deteriorated for the 24th consecutive month as both the prices and volume of exported goods dropped in March.According to the dollar-based trade index and trade conditions statistics released by the Bank of Korea on Oct. 26, Corporate Korea’s net barter terms of trade inde
The supercar market of South Korea is continuing to grow fast. For example, Porsche Korea sold 2,966 cars in the first quarter of this year, up 23.3 percent from a year ago.Porsche currently accounts for 4.81 percent of the imported car market of South Korea, the sixth-highest. For reference, Volvo
The Korea International Trade Association announced on April 16 that global total exports were US$24.9045 trillion last year with South Korea accounting for 2.74 percent of the total, the lowest level since 2008.South Korea’s share was 3.02 percent in 2014 and 3.09 percent in 2018. It was 3.23 perce
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.Top-line growth likely continued in 1Q23 at Handsome thanks to imported brands. However, profitability should arrive somewhat flat due to greater new brand launch-related expenses. As the leading dom
In the first quarter of 2023, domestic automobile production exceeded 1 million units for the first time in six years in Korea. This is because a shortage of automotive semiconductors that had continued until last year was largely resolved.According to the Korea Automobile Manufacturers Association
Porsche sold 2,966 cars in South Korea in the first quarter of this year, the largest Q1 sales volume since the launch of Porsche Korea in 2014. In February, the sales volume was 1,123, fifth behind those of BMW, Mercedes-Benz, Audi, and Lexus. Porsche Korea’s sales volume has more than quadrupled i
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.Shinsegae International’s 1Q23 earnings are likely to fall far short of consensus due to the exit of major imported fashion brands. Although a slide in annual earnings at the imported fashion busines