The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Samsung Engineering is expanding the areas of its construction business from petrochemical plant projects to LNG and hydrogen projects. Particularly positive for the firm’s mid/long-term growth p
Shinhan Card announced on Oct. 19 that it has signed a memorandum of understanding with Stripe, a U.S. company that operates a global financial infrastructure platform, to promote global Payments as a Service (PaaS).The two companies held a partnership signing ceremony at Shinhan Card's main off
Lotte Chemical signed an agreement on the scheduled acquisition of Iljin Materials, a copper foil maker. By securing a copper foil business, the company is now able to build a solid core material value chain. Copper foil is one of the core materials for secondary batteries. Iljin Materials is the No
Leading mobile payment providers across Asia announced on Sept. 26 an integration of Alipay+ cross-border digital payment solutions in South Korea in an effort to jointly promote cashless travel in the country.Users of e-wallets including AlipayHK, GCash (the Philippines), Touch ‘n Go (Malaysia), an
The authors are analysts of Shinhan Investment Corp. They can be reached at idh@shinhan.com and jiunmyoung@shinhan.com, respectively. -- Ed. Initiate coverage with BUY for a target price of KRW74,000We initiate coverage of Korea Aerospace Industries with BUY for a target price of KRW74,000. Our targ
South Korean enterprises are expanding cooperation with Southeast Asia with the United States increasingly internalizing supply chains in various industries.In Indonesia, POSCO Group is working with multiple local enterprises in the sectors including steel, construction and EV battery material devel
Natural gas-related uncertainties are mounting with Russia increasingly weaponizing its energy resources and Australia, the largest gas supplier for South Korea, considering restricting its export.The Japan-Korea Marker futures, a Northeast Asian LNG price indicator, reached US$53.95 per million BTU
Lotte Chemical, Samsung Engineering and POSCO Holdings of Korea and Sarawak Economic Development Corporation Energy (SEDC Energy) of Malaysia have signed a memorandum of understanding with Sarawak Energy Berhad of Malaysia to jointly explore ways to supply at least 900 megawatts of hydro-based renew
The author is an analyst of KB Securities. She can be reached at shinay.park@kbfg.com. -- Ed. Cut target price 10% to KRW90,000; stock undervalued We maintain BUY on Coway but cut our TP by 10% to KRW90,000 to accommodate an increase in WACC (7.55%→8.29%) amid negligible revisions to earnings estima
SK Group is partnering with Gentari Sdn Bhd (Gentari), a clean energy solutions entity founded by Malaysian energy company PETRONAS, for clean energy business opportunities.The group is stepping up its efforts to make inroads into the green industries in Southeast Asia, following its recent equity i
Korea Ginseng Corp. (KGC). said on Aug. 23 that cumulative sales of Red Ginseng Tablet Everytime, a product of its CheongKwanJang brand, have crossed the milestone of 1 trillion won. While other red ginseng products are suffering a drop in sales, this product is enjoying an increase in sales and exp
The authors are analysts of Shinhan Investment Corp. They can be reached at sanghoonpure.cho@shinhan.com and yk.cho@shinhan.com, respectively. -- Ed. 2Q22 earnings in line with consensusCoway posted operating profit of KRW176bn (+5.7% YoY) on sales of KRW978.2bn (+8.0% YoY) for 2Q22, meeting consens
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com. -- Ed. Although copper prices are dropping, the impact on Iljin Materials’ profitability should prove minimal.Expect additional investment plans to materialize after decision on acquirerAlthough adhering
Coway Co. announced on Aug. 10 that it posted an operating profit of 176.0 billion won on sales of 978.2 billion won in the second quarter of 2022.The company's operating profit and sales increased 5.7 percent and 8.0 percent, respectively, compared with a year ago. Its net profit amounted to 13
The authors are analysts of Shinhan Investment Corp. They can be reached at jinmyung.lee93@shinhan.com and cgh815@shinhan.com, respectively. -- Ed. 2Q22 OP falls short of consensus at KRW109.4bn (-18% QoQ)SKC posted operating profit of KRW109.4bn (-18% QoQ) for 2Q22, missing market consensus of KRW1
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. Weighed upon by sluggish orders in the near term, CS Wind recorded disappointing 2Q22 sales. However, the firm’s mid/long-term earnings growth visibility is rising as government policy support ramps
The global investment in carbon capture, utilization and storage (CCUS) is increasing in an attempt to reach carbon neutrality by 2050. Under the circumstances, South Korea with few carbon storage spaces and Southeast Asia, which is highly dependent on fossil fuels, are expanding their cooperation b
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed. 2Q22 review: OP in line with consensus on robust revenue despite extra costs of KRW60.0bn — Samsung Engineering posted 2Q22P consolidated revenue of KRW2.5tn (+47.0% YoY, +15.3% QoQ), OP of KRW153.5bn (+2
Samsung SDI broke ground for a second battery production facility in Seremban, Malaysia on July 21. The company will invest a total of 1.7 trillion won phase-by-phase until 2025 to build the plant, which will start mass-production of PRiMX 21700 cylindrical batteries (21 mm X 70 mm) in 2024.Samsung
Hyundai Rotem, Korea Aerospace Industries and Hanwha Defense are expected to sign large-scale contracts with the Ministry of National Defense of Poland late this month. At present, they are discussing a long-term supply of the K9 howitzer, FA-50 light attacker, K2 tank, etc.Specifically, Hyundai Rot