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
The author is an analyst of Shinhan Securities. He can be reached at jinmyung.lee93@shinhan.com -- Ed.1Q23 operating profit to fall short at KRW145bnSK Innovation is expected to have recorded operating profit of KRW145bn (positive swing QoQ) in 1Q23, missing the market consensus of KRW341.7bn. The r
The author is an analyst of NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.We raise our TP on LG Chem from W900,000 to W1,000,000, upwardly revising our operating value estimate for LGES now that it reflects earnings for Advanced Material Production Credit (AMPC). Also bodin
Samsung Electronics’ Q1 earnings announcement is scheduled for April 7. Securities firms' operating profit forecast is 720.1 billion won (US$547.3 million), down 94.9 percent year on year. This is the first time in 14 years that the Q1 profit estimate is less than 1 trillion won.SK Hynix posted
The Ministry of Trade, Industry and Energy and the Korea Customs Service announced on April 1 that South Korea’s exports totaled US$55.13 billion (down 13.6 percent year on year) and imports totaled US$59.75 billion (down 6.4 percent year on year) last month, resulting in a trade deficit of US$4.92
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.LG Corp is expected to strengthen its business portfolio, using its net cash holdings of W1.6tn for M&As and CVC establishment. Over the mid/long term, we expect share buybacks to continue. DPS s
PT Lotte Chemical Indonesia, an Indonesian subsidiary of Lotte Chemical, has completed external financing for the construction of a petrochemical complex in Banten Province, Indonesia.PT Lotte Chemical Indonesia announced that it signed a 12-year-long contract to borrow US$2.4 billion (approximately
Samsung Biologics plans to build a fifth plant in Songdo, Incheon, Korea by investing more than 1 trillion won (US$768 million). Previously, the company laid out a plan to build a second campus in October of last year and invest 7.5 trillion won (US$5.8 billion) in the construction of its fifth and
The Korea Chamber of Commerce and Industry announced on March 16 that South Korea’s GDP increased more than 85-fold from US$19.54 billion to US$1.66433 trillion, and GDP per capita increased more than 57-fold from US$563.3 to US$32,236.8 from 1974 to 2022.“In that period, the contribution of corpora
The Korea Customs Service announced that South Korea’s exports for the first 10 days of this month totaled US$15.791 billion, down 16.2 percent from a year ago.In that period, semiconductor exports from South Korea dropped 41.2 percent year on year. Likewise, petrochemical product, wireless communic
Daewoo E&C has won a power generation project worth US$790 million (1 trillion won) in Libya.Daewoo E&C announced on Tuesday that it has signed a contract to carry out the Mellitah/Misurata Fast Track Power Generation Project with the General Electricity Company of Libya (GECOL).The project will bui
As methanol-powered ships are rapidly emerging as next-generation eco-friendly ships, competition is heating up between Korean and Chinese shipbuilders about which is taking more shipbuilding orders. Until now, Korea has been leading the high value-added eco-friendly ship market, but Chinese shipbui
S-OIL announced on March 9 that it held a groundbreaking ceremony for the Shaheen Project which will invest 9.258 trillion won (US$6.985 billion), at its plant in county of Ulju in Ulsan, South Korea. About 300 officials attended the groundbreaking ceremony, including President Yoon Suk-yeol and Sau
Korea’s big-three shipbuilders -- Korea Shipbuilding & Offshore Engineering (KSOE), Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries -- have been landing orders for high-value-added vessels non-stop since the beginning of 2023. Their order intake exceeded 10 trillion won
The Ministry of Trade, Industry and Energy announced on March 1 that South Korea’s exports and imports were US$50.1 billion and US$55.4 billion last month, respectively. The exports fell 7.5 percent year on year whereas the imports increased 3.6 percent from a year ago.Last month, South Korea’s semi
SK ecoplant announced on Feb. 27 that TES-AMM, its affiliate specializing in recycling electric/electronic waste (e-waste), has signed a memorandum of understanding (MOU) with SCG International in Thailand to build an energy storage system (ESS) collaboration model.A signing ceremony was held at SCG
SK Geo Centric (SKGC), SUEZ, and Loop Industries (Loop) announced on Feb. 15 (Montreal, Canada local time) that the Chemesis industrial platform in Saint-Avold, located in the Grand Est region of France, has been selected as the site for the first European Infinite Loop manufacturing facility.SUEZ i
The Korea Customs Service announced on Feb. 13 that South Korea’s semiconductor exports for the first 10 days of this month totaled US$1.958 billion, down 40.7 percent from a year ago.Korea's chip exports are decreasing for seven months in a row. Besides, the rate of decrease was 17.4 percent in
Daewoo E&C announced on Feb. 2 that it has won the Kaduna Refinery quick fix project from Kaduna Refinery and Petrochemical Co. (KRPC), a subsidiary of the Nigerian National Petroleum Corp. (NNPC).This private contract is the same as the Warri Refinery quick fix project contract signed with Warri Re
South Korea’s monthly trade deficit hit an all-time high of US$12.7 billion last month. Its semiconductor exports dropped 44.5 percent from a year ago to US$6 billion, the highest rate of decrease in 14 years or so.Last month, South Korea’s petrochemical, general machinery and steel exports decrease