Korean Financial Market New for November 28, 2023

Korean Financial Market New for?

1. CS Wind is expanding production by establishing a third wind power tower factory in Turkye. Through this, the company prepares for future demand growth thanks to policies to expand wind power generation installations in the U.S. and Europe. The third factory will be built in two stages on a 32,500㎡ site. The first stage is expected to cost $130 million. https://www.theguru.co.kr/news/article.html?no=63161
2. According to IT House, Samsung Electronics completed its trademark application for ‘AI Smartphone’ and ‘AI Phone’ to the European Union Intellectual Property Office and the UK Intellectual Property Office on the 24th. The Galaxy S24 series, which will be released in January next year, will have built-in ‘on-device AI’ that can collect and calculate information within the device. It remains to be seen whether this trademark will be recognized. https://www.autodaily.co.kr/news/articleView.html?idxno=511899
3. Ali Express, China's Alibaba Group's online direct purchase platform, is expected to expand its market share by operating a Korean logistics center. AliExpress may threaten the Korean e-commerce market, which is dominated by Coupang. Alibaba Group began targeting the Korean market in earnest while expanding its overseas business. After entering Korea in 2018, Ali Express established a Korea-only customer center in November last year. This year, the direct delivery period, which used to take 1 to 2 weeks, was shortened to 3 to 5 days. https://biz.heraldcorp.com/view.php?ud=20231128000039
4. On the 28th, KB Securities maintained a buy opinion on SK Hynix with a target price of 160,000 won, saying that SK Hynix's fourth quarter performance significantly exceeded market consensus and that next year's highest performance in three years since 2021 is expected. KB Securities predicted that while the supply of ‘HBM3E’ will begin in earnest in the second quarter of next year, early mass production of ‘HBM4’ is also expected in the fourth quarter of next year, and the expansion of HBM market dominance will continue. https://www.mk.co.kr/news/stock/10885210
5. According to Portuguese media outlet Expresso50 on the 24th, Hanwha Solutions' European energy business subsidiary 'Q.Energy' began the licensing process to build a solar power plant in Nisa, Alentejo. The total investment cost is 176 million euros. The specific power generation capacity is unknown, but is expected to be around 200 MW. https://www.autodaily.co.kr/news/articleView.html?idxno=511869#google_vignette
6. According to the announcement on the 8th, Samsung BioLogics signed a total of five CMO contracts worth approximately 760 billion won with pharmaceutical companies in Asia. With the addition of five contracts, Samsung BioLogics' cumulative annual order amount increased to 3.4867 trillion won. It is a double increase compared to last year's KRW 1.7835 trillion, and is the first time since the company was founded that it has surpassed KRW 3 trillion. https://biz.heraldcorp.com/view.php?ud=20231128000085
7. Korea Hydro & Nuclear Power's Polish partner acquired DIP (Decision In Principle) for the Fontenoux nuclear power plant project from the Polish Ministry of Climate and Environment on the 24th. The nuclear power plants to be established will consist of two units, and the goal is to produce 22 TWh of electricity per year and cover approximately 12% of Poland's electricity demand. If all goes according to plan, unit 1 will begin operation in early 2035. https://www.theguru.co.kr/news/article.html?no=63106
8. This year, as the real estate recession prolonged, especially in local areas, and concerns grew about project financing insolvency, the PF debt guarantee performance of Korean securities companies decreased, leading to a sharp drop in investment banking profits. According to the Financial Investment Association's Electronic Disclosure System on the 27th, the cumulative IB sector commission income of 54 securities companies in the third quarter was 2.5158 trillion won, a 38% decrease compared to the same period last year. https://n.news.naver.com/article/123/0002321646?sid=101
9. YG Entertainment’s new girl group Baby Monster’s debut song ‘BATTER UP’ ranked first on the iTunes ‘Top Song Chart’ in 14 countries. Baby Monster is a new girl group released by YG 7 years after Blackpink in 2016, and has garnered attention even before its debut. The ‘Better Up’ music video exceeded 8.69 million views and 3.42 million subscribers in about 10 hours after its release. https://sports.donga.com/article/all/20231127/122374776/1
10. Costco Korea paid 200 billion won in dividends to its U.S. headquarters. Even though operating profit decreased, dividends were significantly increased. This amount is close to three times the dividend (KRW 70.9 billion) for the 25th period (September 2021 to August 2022). https://www.finomy.com/news/articleView.html?idxno=203171

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