The POSCO branch of the Korean Metal Workers’ Union under the Korean Confederation of Trade Unions (KCTU) has withdrawn from its parent organization and become the Independent POSCO Labor Union.“We received a notification certificate on our new labor union from the Ministry of Employment and Labor,”
The labor union of LOTTE Chemical's Daesan Plant, one of the main business units of Korea's second-largest petrochemical company, has dramatically announced its withdrawal from the Korean Confederation of Trade Unions (KCTU). This is the first case of a company union seeking to leave since t
As the electric vehicle market surges, the electric vehicle (EV) charging market is also expanding. Major corporations are entering the EV charging market, emerging as core new businesses.It is difficult to find a large domestic company that is not involved in the EV charging business nowadays. Apar
Fairtrade Korea proudly participated in the highly anticipated 41st edition of Seoul Food, held at KINTEX in Goyang, Gyeonggi-do, from May 30 to June 2, 2023. The event, hosted by the Korea Trade-Investment Promotion Agency (KOTRA), witnessed a significant increase in awareness among domestic compan
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.Reflecting concerns toward intensifying competition in the domestic liquor market, we lower our TP on Lotte Chilsung. But, considering both an anticipated earnings uptrend following consolidation of ea
Korean industry is experiencing the phenomenon of an exit from China and sluggish exports. While it is positive for corporate Korea to diversify export destinations, it is negative for it to post a drop in exports. Even amid a U.S.-China conflict, voices are being raised to call for attempts to prom
LOTTE WORLD TOWER has claimed the 7th spot among the world's tallest buildings.According to industry sources and Spanish media outlet El Mundo on June 2, LOTTE WORLD TOWER, spanning 123 stories and 555 meters, has risen to seventh in the list of the world's tallest skyscrapers. LOTTE WORLD T
The petrochemical industry is struggling to recover, scrambling to secure growth drivers in specialty areas. In response to China’s expansion of its self-sufficiency rate, they are trying to secure market competitiveness by focusing on high-value-added products. In particular, they are actively fost
Pharmaceutical and biotech companies from Korea will be attending the “2023 Bio International Convention” held in Boston, Massachusetts, the U.S., from June 5 to 8. The convention is the largest biotech and pharmaceutical exhibition in the world and is organized by the Biotechnology Innovative Organ
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.In 2H23, the F&B sector is projected to enjoy robust earnings growth, backed by margin spread expansion. In response to steeply rising prices of raw materials in 2022, major F&B firms have hiked ASPs.
Lotte Construction and Hyundai Engineering have shown interest in Ukraine's post-war reconstruction and petrochemical projects.On May 16, the Ukrainian Ministry of Economic Development announced during the Korea-Ukraine Future Cooperation Meeting held at the Chamber Lounge of the Korea Chamber o
SK ecoplant announced on May 17 that it has signed an investment agreement with World Energy GH₂ of Canada at Lotte Hotel Seoul to participate in the US$4.5 billion Nujio’qonik Green Hydrogen Project. World Energy GH₂ is developing a large-scale green hydrogen project based in the area of Newfoundla
The brakes were suddenly put on the construction of Lotte Chemical’s new Hecellose plant in Yeosu, South Jeolla Province. Hecellose is a nonionic water-soluble polymer derived from cellulose.The Yeosu City Government ordered Lotte Chemical to stop the project on May 4. This is because Lotte did not
With the restoration of shuttle diplomacy, Korea and Japan will jointly respond to trade issues such as the U.S. Inflation Reduction Act (IRA) and the European Union’s Carbon Border Adjustment Mechanism (CBAM).Following a visit to Korea by Japanese Prime Minister Fumio Kishida, the two nations’ disc
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.Affected by Chumchurum Saero marketing expenses, Lotte Chilsung’s 1Q23 results slightly missed consensus. However, the steady increase in sales volume is positive. We maintain a Buy rating, viewing the
The author is an analyst for Shinhan Securities. He can be reached at sanghoonpure.cho@shinhan.com -- Ed.1Q23 earnings surpriseHotel Shilla posted operating profit of KRW34.5bn (+128% YoY) on sales of KRW752.1bn (-31.3% YoY) in 1Q23, beating the market consensus by a wide margin. The earnings surpri
Samsung Electronics has begun pressuring credit card companies with a strategy of charging fees in preparation for Apple Pay’s arrival in Korea. As Hyundai Card, which launched the Apple Pay service, is known to pay a fee to Apple, Samsung Electronics will offer the same condition to credit card com
President Yoon Suk-yeol attended a U.S.-South Korea business conference in Washington D.C. on April 25. He was accompanied by Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo and Lotte Group chairman
The author is an analyst of NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.The impacts of China’s economic reopening are unfolding slower than expected. But, with the direction of a gradual strengthening in demand remaining intact, we foresee a modest earnings recovery for L
Lotteria, a Korean hamburger franchise that opened in Korea in 1979, is focusing on expanding to overseas markets. The company is considering entering neighboring Singapore and Malaysia to capitalize on its success in the Vietnamese market where the Korean hamburger giant has enjoyed significant gro