The author is an analyst for NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.We downgrade our rating on the petrochemical industry to Neutral. Significant demand improvement is unlikely in 2024, and both oversupply and burdensome oil price levels are likely to persist. In our
An ironic situation unfolds as foreign investors are rapidly withdrawing their investments from the domestic stock market, while the foreign ownership percentage of the total market capitalization on the KOSPI hits a 20-month high.According to the Korea Exchange on Oct. 22, the foreign ownership rat
Hyundai Motor and Kia Motors have successfully settled their wage and collective bargaining agreements (CBA) without labor disputes for the second consecutive year, but the aftermath poses significant challenges. The labor unions of Hyundai and Kia have managed to secure the highest-ever wage increa
According to industry sources on Oct. 22, a board meeting of Asiana Airlines, considered a pivotal aspect of the merger with Korean Air, will take place on Oct. 30.If the proposal to sell Asiana Airlines’ cargo business in response to the European Union’s (EU) regulatory demands is rejected during t
Amid tensions between the U.S. and China, domestic businesses are growing increasingly anxious as China includes graphite, a crucial component for secondary batteries, in its export control list. This move towards controlling not just gallium and germanium but also graphite by China in the second ha
On Oct. 22, KT announced a collaboration with Thailand’s leading ICT company, Jasmine Group, to utilize KT’s “Mi:dm” super-scale AI for the construction of a Thai Large Language Model (LLM) and joint commercialization in Southeast Asia. This marks the first time a domestically produced super-scale A
On Oct. 22, SPC Group announced that Paris Baguette has surpassed 500 outlets worldwide.Paris Baguette has been on a roll, opening stores consecutively in places like Pennsylvania, New York, and New Jersey in the U.S.; Toronto, Canada; and Shanghai, Beijing, and Xi'an in China since last month. This
Samsung Electronics hosted the “Samsung Memory Tech Day 2023” on Oct. 20 (local time) at the McEnery Convention Center located in the Silicon Valley. At the event, Samsung showcased several groundbreaking memory solutions, including: the ultra-high-performance HBM3E DRAM Shinebolt, leading the innov
SK telecom, the South Korean telecommunications giant, has announced a joint venture with global telecoms company Deutsche Telekom to collaboratively develop a Large Language Model (LLM) geared towards AI vision realization.On Oct. 22, SK telecom revealed that they had joined forces with Deutsche Te
SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced on the 20th that the application of the updated Novavax COVID-19 vaccine (NVX-CoV2601), developed by Novavax, a global company advancing protein-based vaccines with its Mat
Kolmar Korea's sun care products are extending their reach worldwide. The equation "Kolmar Korea = Sun Care" is being recognized not just in Korea but globally. The critical reasons for Kolmar Korea's sun care products achieving this world-class status lie in its technical prowess and the trust of c
Cryptocurrency exchange Korbit announced that it will hold a “no-trading-fee” event for all crypto assets traded at Korbit beginning from 9 a.m. on Oct. 20.Customers can participate in the no-trading-fee trading event immediately without going through any additional procedures such as coupon registr
The European Union (EU) will boost global infrastructure projects to counter China’s Belt and Road Initiative.The EU will host the Global Gateway on Sept. 25 and 26. Leaders from more than 20 countries, including Bangladesh, Senegal, Namibia and Moldova, will attend the event, Bloomberg reported on
Over the past seven years, the Korea Fair Trade Commission (KFTC) has fined big Korean companies more than 4 trillion won for violating the Fair Trade Act and other laws.Among them, the KFTC imposed the largest amount of fines (265.5 billion won for nine cases) on Hyundai Motor Company. The amount o
The author is an analyst for NH Investment & Securities. He can be reached at hzl.lee@nhqv.com -- Ed.We lower our TP on ContentreeJoongAng to W16,000, reflecting both declines in broadcasting peer multiples and the continued sluggish performance of theaters. However, we adhere to a Buy rating. With
The author is an analyst for NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.We expect LS ELECTRIC’s 3Q23 OP to miss consensus due to reduced investment in the semicon industry and fewer business days. However, with the business environment set to normalize over the mid/lo
The author is an analyst for NH Investment & Securities. She can be reached at eunsang.lee@nhqv.com -- Ed.We expect LX Hausys’s 3Q23 results to come in sound, matching the figures posted in 2Q23. Meanwhile, the valuation gap with Hanssem has widened. The slowdown in construction starts from 2022 is
Hanwha Aerospace announced on Oct. 19 that it has signed a component contract worth approximately 235.6 billion won (US$174.4 million) with Vertical Aerospace (VA), a global urban air mobility (UAM) company, at Seoul ADEX 2023.Under this agreement, Hanwha Aerospace will supply its Tilting & Blade Pi
On Oct. 19, POSCO announced the completion of an automotive coated steel plate production and sales factory in Hebei Province, China. This is a joint venture with the Hesteel Group with an annual capacity of 900,000 tons.In May 2021, POSCO’s board of directors approved the establishment of a joint v
It is expected that domestic petrochemical companies engaged in the oil refining business will achieve an improvement in their performance in the third quarter. After incurring significant losses in the second quarter, the oil refining sector is anticipated to generate profits due to the upward tren