A U.S.-South Korea summit is scheduled for April 26 and the heads of 122 South Korean enterprises and organizations are expected to join as economic delegation members.According to the Federation of Korean Industries, the members include Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman C
Lotte Biologics announced on April 18 that it was planning to hire about 70 additional workers and invest US$48 million (about 63 billion won) in facilities to run a plant in Syracuse, New York. It acquired the plant in 2022.Lotte Biologics held a signboard-hanging ceremony at the Syracuse plant in
Lotte E&C announced that its landscaping brand “Green by Groove” won the main prize at the 2023 iF Design Award held in Germany on April 14th.The iF Design Award is regarded as one of the world's top three design awards along with the Red Dot Design Awards in Germany and the International Design
KEPCO announced that its CEO Cheong Seung-il met with Vice President Raquel Peña and Energy Minister Antonio Almonte of the Dominican Republic to discuss cooperation in the power industry between the two countries at Lotte Hotel’s Conference Room in Seoul on April 7.Since 2011, KEPCO has won four di
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.Lotte Chilsung’s domestic soju market share recovery is continuing, led by Chumchurum Saero. Share price momentum is high thanks to the possible consolidation of the firm’s Philippine subsidiary within
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 author is an analyst of NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.Global Tax Free is the domestic leader in the domestic refund agency market. It improved its P/L structure during the Covid-19 crisis by slimming workforce. An earnings turnaround is expected
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
Shilla Duty Free and Shinsegae Duty Free won the DF1 and DF2 licenses for perfume, cosmetics, liquor and cigarette sales at Incheon International Airport.The two companies won the DF3 and DF4 (fashion and boutique) licenses as well. The DF5 (boutique) license also went to the two and Hyundai Departm
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed.In February, pre-sales performance differed widely by construction project. While competition heated up for projects sitting in preferred locations with attractive prices, other projects were sign
Lotte Chemical held a meeting on March 9 with Louisiana Governor John Bel Edwards; Vice Chairman Kim Kyo-hyun of LOTTE Chemicals; and Hwang Jin-koo, head of the Basic Materials Business Division at Lotte Chemical at Lotte World Tower to strengthen the partnership between the company and the U.S. sta
Lotte Chemical will cooperate in the clean ammonia business in the United States by teaming up with CF Industries Holdings Inc., the world’s largest ammonia producer.The two companies announced on Feb. 27 that they signed a business agreement (MOU) at Jamsil Lotte World Tower in the presence of Hwan
Iljin Materials, which was acquired by Lotte Chemical, will change its name to Lotte Energy Materials.The company announced on Feb. 27 that the name change has been included in the agenda of an extraordinary general meeting of shareholders scheduled for March 14.Iljin Materials has decided to appoin
Lotte Property & Development (P&D) announced on Feb. 20 that it has invited 10 officials of Lotte P&D Vietnam, the company's subsidiary in Vietnam, to Lotte World Tower in Seoul for a five-day training from Feb. 20-24.This program is designed to share Lotte World Tower Mall’s expertise and opera
Korean companies are working hard to help Turkey and Syria, which were hit hard by massive earthquakes. They are continuing to donate money and deliver relief goods for earthquake recovery and rescue work in Turkey.On Feb. 10, Samsung Electronics decided to provide a total of US$3 million in cash an
Lotte Chemical will set up a global consultative body on clean ammonia with RWE, a German energy company, and Mitsubishi Corp. of Japan. It plans to cooperate with its partners to develop a large-scale clean ammonia production system and supply chain in Asia, Europe and the United States.As the firs
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com. -- Ed.We lower our TP on Lotte Rental to W44,000 in light of a likely rental car industry slowdown amid higher interest rates. But, even after reflecting such, the firm’s shares still look undervalued (versu
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com. -- Ed.Lotte Chilsung’s competitiveness is on the rise in the zero-calorie carbonated drinks and soju markets. Further recapturing soju market share is to be crucial—the firm is aiming to achieve a 20% market
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. SM Entertainment to issue new shares, convertible bonds to Kakao ᅳ SM Entertainment recently decided to issue 1.23mn shares worth KRW111.9bn (KRW91,000/ share) to be allotted to Kakao. The payment date is sch
LVMH chairman Bernard Arnault criticized resellers in China and South Korean duty-free shops that have increased their profits by resorting to those resellers.Those shops have paid them a lot in order to increase their market shares. COVID-19 led to a drop in the number of Chinese tourists in South