Hyosung Corp. and its major affiliates will continue to make large-scale investments this year based on their robust performances.Hyosung Corp., the holding company of Hyosung Group, and its three major listed subsidiaries, Hyosung T&C, Hyosung Advanced Materials and Hyosung Chemical, plan to invest
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Revise up TP by 7.7% to KRW140,000; Maintain BUY We maintain BUY on Korea Investment Holdings (KIH) and raise our TP by 7.7% to KRW140,000. The company’s 1Q21 results exceeded our estimates as well as the marke
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Amid favorable stock market conditions, KIH’s 1Q21 earnings set new quarterly highs. Given: 1) recent share price correction; and 2) increased earnings estimates, KIH’s valuations (2021E P/E of only
The South Korean government’s stance on the possibility of inflation is changing. The Ministry of Economy and Finance remarked on May 17 that the current risk factors include the possibility of a rise in interest rates.The government’s public remarks to this effect are for the first time since 2011
The Financial Supervisory Service announced on May 16 that the size of the contract for difference (CFD) segment of the South Korean stock market increased by more than 22 trillion won last year. Specifically, it soared from 8.4 trillion won in 2019 to 30.9 trillion won in 2020 with Kiwoom and Kyobo
The Bank of Korea announced on May 13 that the volume of broad money (M2) increased 1.2 percent to 3,313.1 trillion won in March this year. It showed a year-on-year increase of 11 percent, the highest rate of increase since March 2009.The volume is continuing to increase rapidly. Specifically, it in
The South Korean government had a meeting with domestic COVID-19 vaccine developers on May 13. There, it said that it would help them as much as possible so that they can initiate Phase 3 clinical trials in the second half of this year. It also said that it would come up with relevant guidelines by
The South Korean government and semiconductor manufacturers released their new industry growth strategy on May 13. The strategy is to enhance South Korea’s competitiveness in the system-on-chip industry and further enrich the industrial ecosystem.According to their plan, the companies including Sams
The Export-Import Bank of Korea announced on May 13 that it has signed a business agreement with the Korea Health Industry Development Institute (KHIDI) to strengthen cooperation in supporting Korean companies’ expansion into overseas markets in the healthcare and medical sector.The state-run bank m
Hanwha Group has decided to receive up to 5 trillion won in financial support from Korea Development Bank (KDB) over the next five years for investment in eco-friendly energy such as solar energy and hydrogen.The group plans to use the funds for merger and acquisition (M&A) deals and research and de
Coway Co., Ltd., a leading environmental home appliances company, has announced its financial results for the first quarter of 2021."Exciting new products and impactful marketing campaigns propelled our performance, both domestically and internationally," said Kim Soon-tae, chief financial officer o
Naver and Kakao have acquired North American web novel content platforms, starting a full-scale web content platform war.Naver announced on May 11 that it has completed the acquisition of the world's largest web novel platform "Wattpad." The company’s board of directors decided to acquire Wattpa
The Korea Exchange announced on May 11 that it signed a memorandum of understanding with the Shanghai Stock Exchange for mutual cooperation in capital markets.According to the MOU, they are going to conduct cross listing of ETFs, joint index development, and so on while working together in the bond
SK Telecom (SKT) announced on May 11 its earnings for the first quarter of 2021 on a K-IFRS consolidated basis: revenue of 4.781 trillion won, operating income of 388.8 billion won, and net income of 572.0 billion won.Compared to the same period last year, SKT’s consolidated revenue and operating in
The author is an analyst of NH Investment & Securities. He can be reached at will.byun@nhqv.com. -- Ed. Iron ore prices have reached an all-time high, with China’s domestic steel product prices also soaring to record highs. Although the summer off-season is ahead, the uptrend in steel prices is like
The Korea Financial Investment Association announced on May 10 that foreign investors’ investment in the domestic OTC bond market hit an all-time high last month. “As of the end of the previous month, their domestic bond holdings added up to 173.9931 trillion won, up 3.1 trillion won from March,” it
The Korea Corporate Reputation Institute analyzed big data to find out the brand reputation of eight rental service companies in Korea in May 2021. Coway came in first, followed by Lotte Rental and SK Magic.The Brand Reputation Index divides consumers' activity big data regarding a brand into pa
Citibank Korea is planning to sell its retail finance arm as a whole in withdrawing from the South Korean consumer banking market. The bank is currently collecting letters of intent via the M&A team of Citigroup and Citigroup Global Market Securities Korea.According to industry sources, the disposal
The Korea Exchange and the Korea Financial Investment Association announced on May 9 that the total net assets of ETFs in South Korea increased more than six trillion won this year and reached 58,129.3 billion won at the end of April. The amount increased by no less than 970 billion won in the first
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Mirae Asset Securities reported 1Q20 NP close to its historic-high level, and the firm’s promissory note issuance proposal has been approved. The company’s valuations are appealing as its shares pric