Doosan Enerbility announced on July 7 that it has obtained an ISO 19443 certificate from TUV SUD, demonstrating its ability to provide products and services for nuclear power plant projects in compliance with the international nuclear safety standard.ISO 19443 is an international standard applicable
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed. Maintain BUY, lower target price to KRW44,000 (-17.0%) We cut our TP of KRW44,000 for DFC. Our TP (5.2x 12m fwd P/B; 46.4% upside vs. Jun 30 close) reflects a WACC revision (9.47%→10.75%)—in line with incr
The author is an analyst of KB Securities. He can be reached at newday@kbfg.com. -- Ed. Maintain BUY; cut target price to KRW42,500 We cut our 12m fwd TP by 15% to KRW42,500 (12m fwd BVPS x 0.91x target P/B). Our revisions to 1y monetary stabilization bond (risk-free rate), 30y KTB yield (TGR) and b
Doosan Enerbility announced on June 26 that it signed an MOU with Siemens Gamesa (SGRE), a global leader in offshore wind power, for strategic cooperation in the Korean offshore wind power market.SGRE, a subsidiary of Siemens Energy in Germany, is a wind power company established in 2017 through the
Korea Hydro & Nuclear Power (KHNP) will invite journalists from the Czech Republic and Poland to Korea in an effort to promote the excellence of the Korean nuclear power industry. The Czech Republic and Poland are promoting the construction of new nuclear power plants, and KHNP is seeking to win tho
The authors are analysts of Shinhan Investment Corp. They can be reached at mingu.jeong@shinhan.com and wonyong.sim@shinhan.com, respectively. -- Ed. Nuclear power returns to favorWe initiate our coverage on the nuclear energy sector with an OVERWEIGHT view. We believe nuclear energy is ready to mak
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. New order momentum is expected to improve in 2H22 on the passage of the revised hydrogen act in Korea and additional order-taking from China. Earnings should also rise, as from 2H22: 1) sales of its
Daewoo E&C is stepping up efforts to enter overseas nuclear power plant markets.The company is the only Korean builder that can provide a total solution for the entire process of a nuclear power plant project, from design and construction to decommissioning.Daewoo E&C is pursuing the Czech nuclear p
Doosan Group has decided to invest 1 trillion won in the semiconductor testing sector over the next five years.Doosan Group chairman Park Jung-won visited a Doosan Tesna plant in Seoan-seong, Gyeonggi Province on June 14. At the plant, Park discussed the status of the business and mid- to long-term
Major conglomerates, including the top 10 business groups, have come up with plans to invest more than 1,000 trillion won over the next five years in response to the new administration's business-friendly stance.Unlike the previous administration, which held back corporations through bulky regul
Doosan Group announced on May 25 that it will invest five trillion won in energy fields, including small modular reactors (SMRs), gas turbines, hydrogen turbines and hydrogen fuel cell, over the next five years.The group plans to focus on the development of SMRs, which emerged as one of the main pil
South Korea and the United States officially declared their alliance in the nuclear power industry at the recent summit. Their cooperation is likely to revolve around advanced reactor and small modular reactor (SMR) development and export, based on the United States’ technologies and South Korea’s c
SK Inc. and SK Innovation have partnered with TerraPower of the United States to promote the small modular reactor (SMR) business.The two companies signed a memorandum of understanding with TerraPower, a company set up by Bill Gates in 2008, for comprehensive business cooperation. TerraPower is an i
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. Doosan Corp’s liquidity issues have been successfully addressed. Moving ahead, growth potential should strengthen for the firm on stable in-house business (led by electro-materials), recognitio
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. Doosan’s 1Q22 results fell short of consensus due to sluggish sales. We lower our TP by 10% to W44,000 as we revise down our target valuations and sales estimate. Additional orders in China are posit
Doosan Fuel Cell said on April 28 that it has signed an MOU with Ballard Power Systems of Canada and HyAxiom of the United States for a strategic partnership for land-based hydrogen mobility business in Korea.Ballard is a Canadian company that develops and manufactures polymer electrolyte membrane f
GS Energy, Doosan Enerbility and Samsung C&T have signed a memorandum of understanding (MOU) with NuScale Power of the United States to jointly promote the construction and operation of small modular reactor (SMR)-based power plants around the world.A signing ceremony was held at GS Energy Headquart
Doosan Enerbility, previously called Doosan Heavy Industries & Construction, will start the production of small modular reactors (SMRs) in cooperation with NuScale Power of the United States.The company announced on April 25 that it signed an agreement to start full-scale production of NuScale Power
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. Fuel cell orders are predicted to weaken in 1H22, owing to policy uncertainties stemming from the delayed amendment of the hydrogen act and a change of government. While the mid/long-term growth pote
Korea Hydro & Nuclear Power (KHNP) had a meeting on April 7 with regard to the ongoing nuclear power plant construction project of the Czech Republic. The meeting was attended by the KHNP consortium members, that is, KEPCO E&C, KEPCO Nuclear Fuel, Korea Plant Service & Engineering, Doosan Enerbility