The Fair Trade Commission (FTC) is expected to conditionally approve the merger between Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering (DSME).The commission is likely to reach a conclusion to the proposed business combination, which has been reviewed for the past three y
The authors are analysts of Shinhan Investment Corp. They can be reached at eoyeon.hwang@shinhan.com and younghoon.song@shinhan.com, respectively. – Ed. Containership boom driven by COVID-19Containerships have led growth in freight rates and order placements in 2021. For containerships, the average
Hyundai Motor Co. will produce the Genesis GV70 electric vehicle (EV) model at its plant in Alabama of the United States starting from early next year. The GV70 EV will become the first EV model of either Hyundai Motor or Kia to be produced in the United States. Analysts say Hyundai Motor has made t
The author is an analyst of Shinhan Investment Corp. He can be reached at yjjung86@shinhan.com. -- Ed. Domestic: Sales on a clear recovery path in 4Q21Domestic auto sales (excluding imported cars) came in at 106,000 units (-21.5% YoY) for October, with the YoY downtrend continuing for eight consecut
LG Electronics is planning to strengthen its automotive electronics business by forging partnerships with global companies and recruiting professionals.The company's move is based on the forecast that the automotive electronics market will grow rapidly to 800 trillion won, six times the current
Hyundai Motor Group has risen to third place in the global car sales rankings for the first time in its history.Cumulative global sales of Hyundai Motor Co. and Kia Corp. in the first nine months of this year were tentatively tallied at 5,032,045 units, according to the data from the global automobi
Korean automakers posted sluggish sales performances in October due to a prolonged semiconductor shortage.Hyundai Motor Co. announced on Nov. 1 that its global sales fell 20.7 percent year-on-year to 307,039 units in October. The carmaker sold 57,813 units in the domestic market, down 12 percent fro
The United States and the European Union recently ended their trade disputes in the steel and aluminum industries. The United States’ tariffs on steel and aluminum imported from the European Union will be lowered from 25 percent and 10 percent to zero, and the European Union’s 10 percent retaliatory
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Hyundai M&F has fared ill in the stock market owing to weaker profits than peers. But, its gap with peers in terms of profitability and share price should narrow rapidly upon the introduction of IFRS
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. The introduction of IFRS17 is just a year away. In 2022, earnings at both non-life and life insurance players will likely fall y-y. But, we believe that the post-IFRS17 landscape is a more important
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed 3Q21P consolidated OP of KRW826.2bn (+2,375.9% YoY) beats consensus— Hyundai Steel posted 3Q21P consolidated revenue of KRW5.9tn (+31.3% YoY, +4.2% QoQ), OP of KRW826.2bn (+2,375.9% YoY, +51.5% QoQ; 14.1% O
The author is an analyst of Shinhan Investment Corp. He can be reached at yjjung86@shinhan.com. -- Ed. 3Q21 OP misses consensus at KRW53.2bn (-19.0% YoY)Mando posted operating profit of KRW53.2bn (-19.0% YoY) on sales of KRW1.4tr (-4.4% YoY) for 3Q21, missing market expectations of KRW65.4bn by 19%.
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Large Korean construction players’ 3Q21 housing sales mostly met consensus, but GS E&C and Daewoo E&C disappointed expectations on one-off losses at their overseas arms. Although there is no valu
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com. -- Ed. Boasting a sound financial structure, SNT Motiv is expected to deliver a 4Q21 earnings rebound. In our view, securing a leading position as a drive motor vendor for HMG’s mass-produced EVs will
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com. -- Ed. Top-line growth at Hyundai Mobis’s electrification business should begin in earnest from 4Q21, with margins thereafter to improve gradually in the process of securing economies of scale. We expe
Busan, Korea's second-largest city, is now campaigning to host World Expo 2030 in its bid to grow into a world-class city. BusinessKorea had an interview with Park Geun-rok, head of the Expo Promotion Team of the Busan Metropolitan Government, who is spearheading efforts to make World Expo 2030
Hyundai Motor Co. and Kia Corp. have recently decided to make strategic investments in Factorial Energy, a U.S. battery startup, to jointly develop and produce all-solid-state batteries for electric vehicles.Located in Woburn, Massachusetts, Factorial Energy is a startup that developed Factorial Ele
Korea Shipbuilding & Offshore Engineering (KSOE) is set to enter the marine LNG engine market in partnership with Germany's MAN Energy Solutions (MAN-ES), a global ship engine manufacturer.The global LNG engine market is currently dominated by a Chinese company. Yet Hyundai Heavy Industries (HHI
SES of the United States, a global all-solid-state battery developer which received investments from Hyundai Motor and SK Corp. of Korea and General Motors of the United States, has developed a next-generation battery that dramatically improves driving performance and offers improved safety.SES will
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com. -- Ed. Considering HMC’s global wholesale sales guidance, a production volume recovery should become highly visible from 4Q21. Amid earnings growth momentum, both strengthening brand status in advanced