SK bioscience has received an upgrade in its MSCI (Morgan Stanley Capital International) ESG (Environmental, Social, Governance) rating from B to BBB in one year, the company announced on Feb. 3. According to the rating report, SK bioscience was recognized for its human resources development in the
LG Energy Solution (LGES) have signed a multi-year contract with Freudenberg e-Power Systems in Germany for the supply of lithium-ion battery cell modules.With a total capacity of 19 GWh, Freudenberg is expanding its capacities to meet rising demand and ensure the best possible supply for its custom
LG Group has published the "LG Net Zero Special Report," disclosing the step-by-step greenhouse gas emission reduction plans and targets of its seven key subsidiaries that account for 99 percent of the group's emissions.The seven affiliates are LG Electronics, LG Display, LG Innotek, LG Chem, LG
Dongwon Group is moving to take over McDonald's Korea. Dongwon Industries, the group's holding company, was the only bidder in a preliminary tender for McDonald's Korea held on Jan. 17. The first round of due diligence was conducted last week. The two sides started negotiating on the pri
Whatever you imagine when you think of a school headmaster, Guðmundur Hegner Jónsson is likely to surprise you. Originally from Iceland and standing close to two meters in height, he has dug up the world’s past as an archaeologist, recorded in the same studio as The Beatles, and speaks four language
The authors are analysts of Shinhan Securities. They can be reached at hpark@shinhan.com and jieun.ju@shinhan.com. – Ed.4Q earnings exceed market consensus, in line with SHS estimatesAmorepacific delivered an earnings surprise for 4Q22 at a consolidated operating profit of KRW57bn (+122.7% YoY) on s
The authors are analysts of Shinhan Securities. They can be reached at jinmyung.lee93@shinhan.com and cgh815@shinhan.com, respectively. -- Ed.4Q22 OP falls short of consensus at KRW49.8bn (-25% QoQ)Hyosung Advanced Materials posted operating profit of KRW49.8bn (-25% QoQ) for 4Q22, missing the conse
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.KAL’s margins deteriorated q-q in 4Q22 on lower freight rates and higher operating costs. Its OP is to be sapped in 1H23 by decreased freight rates, but we anticipate an earnings recovery from 2H23. W
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. Earnings at Samsung C&T have leveled up thanks to stable earnings at the construction division, brisk growth at the bio division, and the resolution of Covid-19 impacts. Moves to strengthen its
Samsung Electronics is believed to have earned more than 2 trillion won in operating profit in the foundry business last year.Securities companies estimate that Samsung Electronics’ foundry and system LSI divisions posted about 29.93 trillion won in their combined sales and 2.6 trillion won to 3.5 t
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Maintain HOLD, target price of KRW7,000 We maintain HOLD on MAS given the following:(1) Although 3Q22 valuation losses of ~KRW52.7bn in IB-related stocks were partially reversed, a recovery in trading & financi
SK Inc. C&C, an ICT company providing comprehensive digital solutions, has signed a memorandum of understanding (MOU) with Microsoft Korea to promote its digital healthcare solutions in the global market.Under the agreement, SK Inc. C&C's Medical Insight Plus Brain Hemorrhage will become a strat
Korea’s major shipbuilders are landing orders for high-priced ships. They have already secured orders enough to keep them busy for the next three to four years, and their shipbuilding slots have already been fully filled. They are planning to selectively win orders for high-priced and high-value-add
Samsung Electronics' DS Divsion and SK Hynix have decided to pay a generous performance-based bonus to staff, despite a big slump in memory semiconductors. Their decisions are in sharp contrast with the salary cuts and quarterly bonus payment suspension announced by Intel and Micron in the Unite
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed.Downgrade from BUY to HOLD; Maintain TP of KRW28,000 We downgrade our rating for Korean Air from BUY to HOLD, but maintain our TP of KRW28,000. While shares have gained 5.0% over the past three months, narr
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed.Memory inventories at clients to normalize in 1H23 We maintain BUY and TP of KRW110,000 on SK hynix. Despite our forecast of massive losses this year, we still hold a positive stance on the company. The memory c
The U.S. Department of the Treasury recently revised tax law-related rules so that electric vehicle (EV) battery manufacturers in the United States can get tax credits in cash based on the Inflation Reduction Act even in the event of business loss and zero tax payment.“In the early stage of EV batte
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed. 4Q22P consolidated operating loss of KRW275.9bn (turn to red YoY): Far below consensus ㅡ Hyundai Steel reported 4Q22P revenue of KRW6.0tn (-7.1% YoY, -14.6% QoQ), operating loss of KRW275.9bn (TTR YoY, TTR
The ongoing global semiconductor war started in the second half of last year, when the United States enacted the CHIPS and Science Act in July, and further announced a ban on semiconductor equipment exports to China in October.According to the act, companies in the semiconductor industry that receiv
Foreign investors net-sold 3.22 trillion won of won-denominated bonds in January this year, which is the first net selling in the market since January 2019. Their bond holdings in the market totaled approximately 222 trillion won at the end of last month, decreasing more than 6.5 trillion won in one