The author is an analyst for Shinhan Securities. He can be reached at sanghoonpure.cho@shinhan.com -- Ed.3Q23 OP of KRW126.8bn (+44.6% YoY) beats consensus by 12%GS Retail posted operating profit of KRW126.8bn (+44.6% YoY) on sales of KRW3.09tr (+4.5% YoY) in 3Q23, beating the market consensus by 12
The Korea Electric Vehicle Charging Service (KEVCS), operator of the domestic electric vehicle charging service Happecharger, has recently announced a complete ban on charging Tesla vehicles at its charging stations.In September, KEVCS posted a notice on the Happecharger website under the title “Not
Korea Water Resources Corporation (K-water) signed a business agreement with three companies – Plug Power, SK E&S and SK Plug Hyverse – in Albany, New York in the United States on Nov. 3 (local time) to expand the use of green hydrogen and rev up the industry.The agreement was signed to accelerate t
The author is an analyst for NH Investment & Securities. He can be reached at sokang@shinhan.com -- Ed.3Q23 review: Earnings meet consensus on improved cost efficiencyNAVER posted operating profit of KRW380.2bn (+15.1% YoY, +2% QoQ, operating margin of 15.5%) on sales of KRW2.45tr (+18.9% YoY, 1.6%
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.With the US unemployment rate rising for a second straight month, we are nearing the threshold for the Sahm Rule recession indicator (which has a 100% historical accuracy rate). Given the effects of
In the third quarter of this year, OB’s steady-seller beer, Cass, successfully retained its position as the leading brand in the South Korean home beer market.According to the food industry statistics information from the Korea Agro-Fisheries & Food Trade Corporation (aT) on Nov. 5, the retail store
ULTRA Korea will return in 2024 to celebrate its 10th anniversary, taking place at Paradise City in Incheon, South Korea on Friday, June 7 - Sunday, June 9, 2024.The announcement comes on the heels of news of the festival’s new 3-year home at Paradise City - the expansive entertainment concept venue
For more than 60 years, Korea had not made it to U.S. Billboard charts, but starting with Psy’s Gangnam Style in 2012, K-pop’s presence on the charts has been growing with BTS, BlackPink, and Nujins making their splashes.As K-pop’s status has changed, so has the number of foreigners visiting Korea.
Industrial production, consumption, and investment increased altogether in Korea in October. It was the first time in four months since May that all three indicators of industrial activities were positive. A strong recovery in the semiconductor industry drove the growth of Korea’s overall industrial
Samsung Electronics announced in its third-quarter online earnings call on Oct. 31 that it will expand its supply of cutting-edge memory, including 10-nm 4th-generation (1a) and 5th-generation (1b) DRAM and 7th- and 8th-generation V-NAND flash memory, without making any downward adjustments.“Demand
Korea East-West Power Corp. (EWP) announced on Oct. 30 that it has confirmed its participation in the construction of solar power generation facilities and an energy storage system (ESS) project for the environmentally friendly tourism city AMAALA currently being built off the Red Sea coast in Saudi
Following the pandemic, South Korea remained in the middle to lower range in terms of growth rates among advanced economies. However, it ranked higher in terms of price stability indicators. This suggests a ‘trade-off’ between investment-led growth expansion and tight fiscal policy.According to the
A survey found that LG Electronics was the most popular company among Korean consumers in home appliances such as refrigerators and washing machines. In the TV category, one of the three major home appliances, Samsung Electronics snagged the top spot.CEO Score, a company data research center, said o
The controversy surrounding the “Asiana Airlines Cargo Business Separation Sale,” which has emerged as a key issue in the merger of Korean Air and Asiana Airlines, is intensifying. As the Asiana Airlines board is set to decide on the separation sale of the cargo business on Oct. 30, both current and
Financial authorities, including the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS), have uncovered allegations of stock manipulation related to a Chinese company, hereinafter referred to as Company A, which is listed on the KOSDAQ in South Korea. These allegations s
The author is an analyst for NH Investment & Securities. She can be reached at eunsang.lee@nhqv.com -- Ed.We expect LX Hausys’s 3Q23 results to come in sound, matching the figures posted in 2Q23. Meanwhile, the valuation gap with Hanssem has widened. The slowdown in construction starts from 2022 is
The ongoing takeover battle for HMM, which had been a three-way competition between Harim Group, LX Group, and Dongwon Group, could face another twist. There’s speculation that POSCO might enter the acquisition fray, intensifying the competition among potential acquirers. Amid this, the prospective
The author is an analyst for Shinhan Securities. He can be reached at jk.ahn@shinhan.com -- Ed.BOK likely to keep base rate at 3.50% given inflation and household debtAt the upcoming October meeting, we expect the Monetary Policy Board (MPB) of the Bank of Korea (BOK) to make a unanimous decision to
The share of Chinese-made drones in Korea’s rural areas has ballooned, following the trend of Chinese-made solar power facilities across Korea.According to data that the Ministry of Agriculture, Food and Rural Affairs submitted to the Office of Ahn Byung-gil, a member of the National Assembly on Oct
The United States has refrozen Korea’s payment for Iran’s crude oil exports that South Korea transferred to a Qatari bank as part of a prisoner swap deal between the United States and Iran.On Oct. 12 (local time), the U.S. government said that Iran will not be able to get its hands on US$6 billion t