The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. During its 2021 HYBE Corporate Briefing held on Nov 4, HYBE announced its: 1) entry into the NFT market; 2) consolidation of fan community platforms; 3) release of interactive games; and 4) expansi
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. K-pop, which has established itself in the global market based on its unique fandom culture, is set to expand its presence into the metaverse and NFT domains. Global awareness of K-content has leve
The author is an analyst of KB Securities. He can be reached at drlee@kbfg.com. -- Ed. Maintain BUY, raise target price to KRW160,000 We maintain BUY and raise our TP by 3.2% to KRW160,000 on Kakao. Our DCF-based TP represents 65.0x 12m fwd P/E. We revise down 2021E OP by 4.5% given rising marketing
CJ Group chairman Lee Jae-hyun has unveiled a plan to invest 10 trillion won in four major growth engine areas by 2023 to drive innovation and future growth. It is the first time in 11 years that Lee has come to the forefront and presented his vision.Lee appeared in an in-house broadcast program to
Samsung C&T announced on Nov. 2 that it has signed a memorandum of understanding (MOU) on comprehensive business cooperation with the Ministry of Investment of Saudi Arabia (MISA).The Saudi Arabian government and Samsung C&T will first strengthen cooperation in the green energy business sector, whic
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. - On Oct 29, Krafton announced that it had acquired a 100% stake in Unknown Worlds Entertainment for W878.8bn (US$750mn), including a US$250mn earnout payment depending on the achievement of perf
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. We raise our TP on CJ ENM by 9% to W250,000. Backed by the success of its broad range of content (including dramas such as Transit Love, Street Woman Fighter, and Wise Doctor Life), the firm looks
The authors are analysts of Shinhan Investment Corp. They can be reached at snowKH@shinhan.com and wonyong.sim@shinhan.com, respectively. -- Ed. Initiate coverage with BUY for a target price of KRW28,000We initiate coverage of Wysiwyg Studios with BUY for a target price of KRW28,000, based on 2022F
Hanwha Solutions announced in August that it would acquire renewable energy developer RES France for approximately one trillion won. “The French company was expected to be acquired by a European company, but Hanwha Solutions surprised the entire industry,” said an industry source, adding, “The South
Mirae Asset Management's Japanese joint venture Global X Japan listed three new themed ETFs on the Tokyo Exchange on Sept. 28.The new three ETFs are Global X Japan Semiconductor ETF, Global X Japan Leisure & Entertainment ETF and Global X Japan Metal Business ET. It marks the first time that the
The Korea Securities Depository announced on Sept. 22 that South Korean investors’ foreign stock settlement totaled an all-time high of US$277.1 billion from Jan. 1 to Sept. 16 this year. For reference, the amount was US$198.3 billion in 2020 as a whole and more than US$198.5 billion in the first ha
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. Adhering to a Buy rating, we raise our TP on HYBE to W370,000 in consideration of the firm’s leading position in the fandom platform arena, backed by the securing of global artists for its Weverse
The author is a strategist of NH Investment & Securities. He can be reached at lawrence.kim@nhqv.com. -- Ed. Despite the spread of the Delta variant and rising concerns over the Gamma variant, life in DMs is returning to normal thanks to high vaccination rates. While still being cautious, people in
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. Astory delivered a 2Q21 earnings surprise thanks to the recognition of progress made by the tent-pole drama Jirisan. The firm achieved a GPM of 34% through confirmed sales of the drama, which sugge
The author is an analyst of NH Investment & Securities. He can be reached at jack.baek@nhqv.com. -- Ed. D&C Media’s 2Q21 results fell short of expectations due to sluggish growth at its domestic business. Nevertheless, we maintain a Buy rating, believing that the following positives remain valid: 1)
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. YG Ent registered an earnings surprise for 2Q21. Its sales growth stamina is strengthening on both the expansion of the fandom and the start of HYBE album and music sales. We raise our TP to W85,00
Kakao founder Kim Beom-su has recently become the richest South Korean beyond Samsung Electronics vice chairman Lee Jae-yong. Their current assets are US$12.9 billion and US$11.8 billion, respectively.They are followed by Celltrion honorary chairman Seo Jung-jin (US$10.4 billion) and Nexon founder K
The author is an analyst of Shinhan Investment Corp. He can be reached at mj1224@shinhan.com. -- Ed. 2Q21 OP beats consensus at KRW26.9bn (-2.5% QoQ)Wemade posted operating profit of KRW26.9bn (-2.5% QoQ) on sales of KRW68.9bn (-9.4% QoQ) for 2Q21, exceeding the consensus estimate of KRW21.9bn. Dome
LG Electronics announced on Aug. 10 that it will significantly expand the LG Channel Service, a free content platform on its smart TVs powered by webOS.The company has decided to additionally launch the LG Channel Service in 11 European countries, including the Netherlands and Switzerland, within th
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Since listing its subsidiaries is not its end-goal but rather a step towards growth, securing funds through IPOs is to increase the Kakao’s platform value and overall EV.Listing of subsidiaries t