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
Incheon Port Authority (IPA) announced on July 17 that global shipping giant MSC launched its Pertiwi service at Incheon Port on July 15.According to the IPA, the new service is the sixth regular container route opened at Incheon Port this year. It increased the number of regular container services
Samsung Engineering has landed an order for a large gas plant worth 890 billion won from Malaysia.The company announced on July 13 that it signed a contract on the Onshore Gas Plant for Rosmari Marjoram project with Sarawak Shell, a subsidiary of global energy company Shell, on July 12. The company
Korean convenience stores are speeding up their overseas expansion based on the popularity of K-pop and Korean TV shows. They are rapidly expanding their businesses in three countries -- Vietnam, Malaysia, and Mongolia. In particular, the three major Korean convenience stores are focusing on Malaysi
SKC announced on July 10 that SK Nexilis, a wholly owned subsidiary, held a groundbreaking ceremony for a copper foil plant at the E-Mobility Industrial Complex in Stalowa Wola of Poland on July 7 (local time).SK Nexilis will invest a total of 900 billion won to complete the plant with an annual pro
GC Labs and the three subsidiaries of GC Pharma (GC Pharma MS, GC Cell and GC Genome) announced on July 8 that the 24th International Congress of Clinical Chemistry and Laboratory Medicine was successfully wrapped up in Seoul.The three subsidiaries and the medical foundation participated in the cong
Korea Agro-Fisheries Trade Corp. (aT) announced on July 7 that it has opened a branch in Kuala Lumpur, Malaysia.The Kuala Lumpur branch is aT’s fifth branch in Southeast Asia after those in Jakarta, Bangkok, Hanoi and Ho Chi Minh City.In particular, Malaysia is a country aT is focusing on as it inte
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed. Maintain BUY; lower target price to KRW28,000 We maintain BUY on Samsung Engineering but lower our TP 9.7% to KRW28,000 (2.0x 12m fwd P/B) to reflect a COE increase (7.9%→9.0%). Given current macro condit
More and more experts are calling for the government to conclude currency swap agreements with the United States and Japan, as the won-dollar exchange rate is soaring and South Korea’s foreign exchange reserves are decreasing fast. At present, South Korea is in currency swap agreement with Canada, C
The Huawei ICT Competition 2021-2022 Global Final in Shenzhen drew to a close on June 25. This year marks the sixth Huawei ICT Competition, which included three competitions – Practice, Innovation and Industry – attracted 150,000 students from more than 2,000 universities in 85 countries and regions
The U.S. and South Korean governments are expected to initiate IPEF-related negotiations in August. The anti-China economic framework is equivalent to 32.3 percent of the total population of the world and 40.9 percent of the global total GDP.The framework was proposed by U.S. President Joe Biden in
Major Korean companies are ramping up their investments in Indonesia, which they regard as a base for advancing into Southeast Asia. Korean companies' investments are made in diverse sectors, including electric vehicles, batteries, petrochemicals, and biotechnology. The Indonesian government is
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com. -- Ed. Asian investors are keenly focused on the degree of smartphone shipment slowdown, the timing of industry recovery, and the future direction of the XR market. In addition to offering our opinions o
The author is an analyst of KB Securities. He can be reached at yc.baek@kbfg.com. -- Ed. Maintain BUY, raise target price 10% to KRW165,000 We maintain BUY on OCI and raise our TP by 10% to KRW165,000 on OCI. We revise up 2022E-23E NP (attributable to controlling interests) by 18.7%/8.0% to reflect
SPC Group's bakery brand Paris Baguette announced on June 20 that it will enter the Malaysian market, eyeing the halal market in the Southeast Asian country.The group broke ground for a halal-certified bakery factory in Johor Bahru, Malaysia's second-largest city, and at the same time, estab
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. The near-term rise in fossil fuel prices and the mid/long-term shift towards hydrogen are both positive for Samsung Engineering, as the firm is capable of performing both grey EPC and green EPC p
The author is an analyst of NH Securities and Investment. He can be reached at yk.choi@nhqv.com. -- Ed. Solar energy market growth should continue to accelerate on both a rise in conventional energy prices and the emergence of policies to support solar energy. An uptick in demand in downstream indus
The number of overseas affiliates set up by Korean conglomerates soared in the United States, but fell in China last year.As of the end of May this year, the 76 Korean business groups with assets exceeding 5 trillion won were practically controlling 5,287 subsidiaries in 123 overseas countries, the
Hanwha Solutions is expected to benefit from the U.S. government's latest initiatives to promote the solar energy industry.The U.S. Department of Commerce recently announced a temporary exemption of up to two years from the application of any new tariffs on solar cells and modules from four Sout
Samsung SDI is expediting the development of next-generation cylindrical batteries, with standardization work in its final stage. The company has fixed the diameter of the new battery at 46 mm, but the height still remains to be set. It is currently in talks with several corporate customers over the