Articles by Ahn Sung-mi
Ahn Sung-mi
sahn@heraldcorp.com-
[EQUITIES] Hyundai Motor to post Q3 earnings below consensus: analyst
[THE INVESTOR] HMC Investment Securities on Oct. 11 projected Hyundai Motor’s third quarter earnings will be far below the market consensus. The brokerage, an affiliate of Hyundai Motor Group, forecast South Korea’s largest automaker will post 22.17 trillion won (US$19.80 billion) in sales and 1.12 trillion won in operating profit, down 6.0 percent and 25.3 percent on-year, respectively. HMC’s estimate is far lower than a previous market consensus of 1.47 trillion won in operating profit. “Hyun
Oct. 11, 2016
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Hyundai Motor to buy GE stake in Hyundai Capital
[THE INVESTOR] Hyundai Motor Group will purchase the remaining 20 percent stake in Hyundai Capital Services held by GE Capital, taking sole control of its financial services arm. “Hyundai Motor is in the process of purchasing the shares,” a Hyundai Motor spokesperson said. According to industry sources, Hyundai Motor and GE Capital plan to sign the buyout deal on Oct. 17. The transaction is valued at approximately 600 billion won (US$536.92 million). The auto conglomerate plans to establish a sp
Oct. 11, 2016
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Only 30% of Hyundai cars produced in Korea
[THE INVESTOR] Hyundai Motor's domestic production has declined rapidly in recent years, falling to around 30 percent of all cars produced by the automaker. According to data released by the carmaker's labor union last week, production at its domestic plants which once peaked at 65 percent in 2007, has been falling since, with its overseas plants taking a bigger share. An assembly line at Hyundai Motor's Alabama plant.In 2010, 1.74 million units, or 48.1 percent of its entire car production of
Oct. 10, 2016
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Hyundai Motor's market cap slides on strike, weak earnings forecast
[THE INVESTOR] The market value of Hyundai Motor has slid two notches to the fifth spot among all listed firms here, amid ongoing labor strike that incurred billions of dollars in lost production and a weak earnings forecast. South Korea’s largest automaker posted a market cap of 30.67 trillion won (US$27.56 billion) based on closing value on Oct. 7, dropping from the previous third rank. Tech giant Samsung Electronics took the unmatched top spot with 241.68 trillion won, followed by a distant r
Oct. 10, 2016
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Hyundai faces long journey toward hydrogen: analysts
[THE INVESTOR] It will be a long journey for Hyundai Motor to take a lead in hydrogen-powered vehicles due to a lack of infrastructure and progress by Japanese competitors, industry watchers said. Hyundai Motor appears to be betting on hydrogen fuel cell vehicles for its next-generation of cars, believing it will ultimately replace electric cars. In 2013, Hyundai, for the first time in the world, mass-produced the Tucson ix FCEV, which runs up to 415 kilometers on a single charge, and plans to u
Oct. 9, 2016
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Number of automobiles made in Korea hits 11-year low
[THE INVESTOR] The number of automobiles manufactured in South Korea last month dropped to the lowest in 11 years due to increased overseas production, declining domestic demand, and a series of strikes at local automakers, a government report showed on Oct. 9. In September, a total of 258,026 automobiles were made in Korea, which is a 22.7 percent drop on-year, and the lowest output posted for the month of September since 2005, according to the Ministry of Trade, Industry and Energy. During t
Oct. 9, 2016
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‘More room’ to cut interest rate for S. Korea: minister
[THE INVESTOR] South Korea’s Finance Minister Yoo Il-ho said over the weekend there is “more room” to use monetary policy at the central bank and partly admitted that lower interest rates led to a rise in household debt. His comments came as the Bank of Korea is to decide its key rate on Thursday this week amid weak exports, slow manufacturing production and growing household debt. Although Yoo said he was “not in a position” to say if a lower rate is necessary, “theoretically there is room to u
Oct. 9, 2016
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Nokia betting on Korea’s 5G leadership
[THE INVESTOR] South Korea may be in a leadership position in the global market for 5G broadband, Nokia’s Asia Pacific and Japan head said last week. Korea aims to be the first to unveil the next-generation network 5G -- which can deliver data 1,000 times faster than long-term evolution -- in time for the 2018 PyeongChang Winter Olympics. The successful launch of the technology, being developed by local telecom operators in partnership with Samsung Electronics, Nokia, Ericsson and NEC, is cri
Oct. 9, 2016
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Korean economy is competent to deal with risks: global ratings agencies
[THE INVESTOR] The South Korean economy has a degree of policy space to tackle and contain domestic risks and geopolitical shocks, senior officials from global ratings agencies told Finance Minister Yoo Il-ho. Yoo, who is on a US trip to attend the conferences of the World Bank and the International Monetary Fund, held separate meetings with senior officials from Moody‘s, Standard and Poor’s and Fitch on Oct. 8 in Washington. During the meetings, officials from the ratings agencies told Yoo tha
Oct. 9, 2016
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Weak exports and production hinder economic recovery: KDI
[THE INVESTOR] The South Korean economy has been recovering at a slow pace in recent months, deterred by faltering exports and sluggish industrial output despite a rise in private consumption, a state-run think thank said on Oct. 9. “Korea’s domestic demand sustained moderate growth led by construction investment, but overall recovery has been slow on weak exports and manufacturing production,” the Korea Development Institute said in its monthly report of the country’s economic conditions. Consu
Oct. 9, 2016
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World Bank’s recruitment mission to visit Korea next month
[THE INVESTOR] A delegation of World Bank recruitment officials will visit South Korea next month to seek more Korean professionals to its workforce, according to the bank on Oct. 9. The delegation, led by Sean McGrath, the World Bank’s vice president of human resources, will hold a job fair at a university in Seoul during the five-day visit starting Nov. 14. The World Bank is said to be looking to hire about 7 Korean professionals during the fair. A total of 94 Koreans are working at the Worl
Oct. 9, 2016
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Samsung exhibits quantum dot display tech at Polish museum
[THE INVESTOR]Samsung Electronics is running an educational zone at a museum in Poland where visitors can understand how the company’s quantum dot display technology functions, according to the company on Oct. 9. In partnership with the Copernicus Science Center in Poland, the exhibition “outlines the technical details of how Samsung’s latest SUHD (super ultrahigh-definition) series television sets function, and how the human eye perceives the images they display,” Samsung said in a statement.
Oct. 9, 2016
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Brokerages raise Samsung’s profit forecast for 2016
[THE INVESTOR] Local brokerage firms have raised their forecasts of Samsung Electronics' operating profit to exceed 30 trillion won ($26.88 billion) this year after the tech giant announced a better-than-expected earnings guidance for the third quarter, according to brokerages on Oct. 9. Despite a damaging recall of the Galaxy Note 7 smartphone, Samsung said on Oct. 7 that it expects to report a 5.5 percent rise in its third quarter operating profit to stand at 7.8 trillion won. Revenue, however
Oct. 9, 2016
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SK hynix’s investment into Chinese plant to exceed $10b
[THE INVESTOR] South Korean chipmaker SK hynix's investment in its Chinese plant is expected to exceed US$10 billion this year, local news reported on Oct. 9. The cumulative investment into SK hynix’s plant in the Chinese city of Wuxi, Jiangsu province, is predicted to stand at US$10.5 billion by the end of this year, an industry source was cited as saying in the report. The Wuxi plant, which began production in 2006, accounts for about half of SK hynix’s DRAM production. The plant’s success ha
Oct. 9, 2016
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Hyundai, Kia’s market share hits record low in Sept.
[THE INVESTOR] Hyundai Motor Group’s market share in Korea fell to a 16-year low in September, while its smaller rivals GM Korea, Renault Samsung Motor and Ssangyong Motor increased their competitiveness with new cars, industry data showed on Oct. 7. The combined sales of Hyundai Motor and its smaller affiliate Kia Motors in Sept. stood at 79,848 units, accounting for 62.1 percent of the 128,674 units sold in the country, according to the Korea Automobile Manufacturers Association and the Korea
Oct. 7, 2016
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