DOCSLIB.ORG

What Makes Korea-Based Carmakers Divided Into Winners Or Losers?

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

FOCUS INDUSTRY MANAGEMENT COLLABORATION FOR ‘APPLE CAR’ GM KOREA TO CUT VEHICLE OUTPUT FOR BRIBING THE OUSTED PRESIDENT Hyundai Motor Group and Apple May CHIP SHORTage FORCES GM KOREA TO HALT Samsung Vice Chairman Lee Sent Collaborate in Self-Driving EVs PRODUCTION LINES Back to Prison FABRUARY 2021 / VOL.38 NO.399 www.businesskorea.co.kr What Makes Korea-based Carmakers Divided into Winners or Losers? 12,000 won 02 ISSN 1016-5304 Contents 2020 / Vol.38 No.399 Export Items 43 South Korean Enterprises Exposed to 24 Foreign Direct Investment in Korea Even More Attacks from NPEs Slides 11% in 2020 44 Ericsson Takes Samsung Electronics to 25 South Korean Exporters Increasingly Court over Patent Infringement Relying on Chinese Market Google, Microsoft and Samsung Most 26 South Korea’s Trade Deficit with Japan Frequently Involved in U.S. Patent Increases in 2020 Litigation Last Year 27 South Korea Accelerating Pursuit of 45 South Korea's ICT Exports Increase Technological Independence from 3.8% in 2020 Japan South Korea’s OLED Exports Continuing to Increase Substantially COVER STORY 46 Samsung Electronics Expected to Invest 35 Tril. Won in Semiconductor 28 What Made Korea-based Carmakers Facilities in 2021 Divided into Winners or Losers? Samsung Electronics in Dilemma over Investment in U.S. Chip Plant MONEY 47 Netflix Still Using Networks for Free Six Big Content Providers Subject to 34 Top Business Groups Active in M&A ‘Netflix Act’ Deals 48 Intel and TSMC Predicted to Big M&A Deals Anticipated in 2021 Collaborate for GPU Production FOCUS 35 KB Kookmin Bank Facing Lawsuit in Samsung Expected to Release Indonesia Next-generation Exynos AP This Year 08 Hyundai Motor Group and Apple May IBK Facing US$5.5 Bil. Lawsuit in the Collaborate in Self-Driving EVs United States Regarding Iranian Assets 36 Korea Discount Disappearing NATIONAL KOSPI Tops 3,000 Points for the First Time in History 10 Incheon Metropolitan City, Gateway to 37 Foreign Stock Settlement Hits All-time the World High Last Year 12 Incheon City in Pursuit of Eco-friendly IT Players Account for 63.3% of Top 30 Transformation Companies’ Market Capitalization in 14 Incheon’s Open Port Street Chosen for Korea Korean Tourism Star Award 38 Short Selling Resumption Causing 16 South Korea Planning to Join CPTPP Controversy South Korea-U.K. FTA About to Take Short Selling Ban Likely to be 12 Effect Extended by Three Months 17 South Korean Vessel Seized by Iran 39 Top Conglomerates’ Market Value Spending of Frozen Iranian Funds Increasing Rapidly Conditionally Approved by U.S. Samsung Electronics Leading South Government Korean Economy Alone 18 United States and European Union 40 Korean Investors’ Foreign Stock Building Carbon Trade Barriers Trading Totals US$198.32 Bil. in 2020 19 South Korea’s FTA Territory Continuing Domestic Securities Firms’ Overseas to Widen Alternative Investment Totals 48 Tril. South Korea to Expand EDCF Won 20 South Korea to Build Water Supply 41 Financial Authorities Tell Insurers to 42 Networks in Indonesia Reduce Dividend Payments South Korea Expected to Build Government to Strengthen Hydroelectric Power Plants in Pakistan Monitoring of Insurers’ Foreign Bond 21 Korea Trade Insurance Corp. to Provide Investment Project Insurance to Saudi Arabia 22 South Korean Economy Expected to ICT Grow 3.4% This S&P Estimates Korea's 2021 Growth 42 South Korea Ranks 14th in AI Research Rate at 3.6% Competitiveness 23 South Korea Improves Real GDP South Korea Still Dependent on Ranking Last Year Industrial Materials and Components South Korea Losing Competitive from Japan 68 04 49 Samsung Electronics behind Intel and Tesla Expected to Lower Car Prices in Offshore Wind Power Business TSMC in Terms of Operating Profit Korea 66 Oil Refining and Petrochemical South Korea’s Semiconductor Capex 57 No Future Car Production Allocated to Companies Expanding NCCs Expected to Hit All-time High in 2021 GM Korea and Renault Samsung 67 LNG Prices More than Quadruple in 50 LG Electronics in Talks with Vingroup 58 Electric Vehicle Exports from South One Year of Vietnam to Sell off Its Smartphone Korea Increasing Rapidly Korean Builders Enjoy 50% Increase in Business Korea’s Presence in Automotive Overseas Construction Order Intake in LG's Rollable Phone May Not Be Able Semiconductor Market Hardly 2020 to See the Light of Day Noticeable 51 LG Display Says OLED TVs Superior to 59 Eco-friendly Cars Take Up 12% of IR & MANAGEMENT Mini-LED TVs Domestic Car Sales in 2020 Mini-LED TVs Expected to Emerge as 60 KDB to Inject New Funds into 68 Samsung Vice Chairman Lee Sent Back Focus of Competition among Global SsangYong on Condition Mahindra to Prison TV Giants in 2021 Hold Its Stake 69 Samsung Electronics Poised to Make Hyundai and Kia Dominate Indian SUV M&A Deals in Earnest INDUSTRY Market in 2020 70 LG Electronics Moving to Withdraw 61 Prices of Domestic Cars Rising Faster from Mobile Phone Business 52 Carbon Emission-related Cost Burden than Those of Imported Vehicles 71 LG Electronics’ Automotive Electronics Weighing on Korean Companies Japanese Cars Losing South Korean Business Shifting into High Gear Major Korean Enterprises Joining Market LG Electronics to Strengthen Hydrogen Industry 62 3 Korean Battery Makers Gaining Automotive Electronics Business to 53 Korean Tire Makers Concerned about Growth Momentum Drive Future Growth U.S. Anti-dumping Tariffs South Korean Battery Manufacturers 72 Hyosung Makes Investment in Use of Disposable Plastic Products Doing Well Globally Expanding Spandex Plants in Turkey, Banned in Chinese Cities 63 U.S. PTAB Spurns SK Innovation's Brazil 54 Chip Shortage Forces GM Korea to Challenge to the Validity of LG Energy Hyosung Advanced Materials Makes Halt Production Lines Solutions' Patents This Year’s Climate Change ‘A List’ 55 15th Fire of Kona Electric Spells 64 Trading of Fuel Cell-based Electric 73 Hanwha Group Concentrating on New Trouble for Hyundai Motor, LG Energy Power Increases Substantially Businesses Solution Rechargeable Battery Exports 74 Lotte Group Facing Crisis Kia Motors to Recall Electric Vehicles in Expected to Exceed US$7 Bil. This Year 75 SK Group to Invest US$1.5 Bil. in U.S. China Following Hyundai Motor 65 Korean Shipbuilders Account for 43% Hydrogen Company Plug Power 56 Expensive Electric Vehicles No Longer of Global Orders in 2020 SK Hynix Secures US$3 Bil. Loans from Eligible for Government Subsidy Korean Shipbuilders Jumping into Korean Banks VENTURE 76 Over 610 Startups Post 100 Bil. Won or Looking for More in Sales in 2019 a house, apartment or office? SMEs’ Exports Show Little Decline Last Real Estate & Relocation Co, LTD. Year We look forward to helping you to find your next dream property anywhere in Seoul. SCIENCE & 1. Residential or Commercial Property Searching 3. After Service TECHNOLOGY - Ability to explore and reserve a variety of properties - Moving arrangements and furniture set-up - Recommendations of suitable properties - Interior decoration and design 77 ETRI to Showcase Innovative - Enrollment in fire, theft and other types of insurance Technologies at CES 2021 2. Contract 4. Support Nanocomposite Developed for - Careful review of all related documents - Registration of residence at the local district office, etc Irradiation-based Dementia Treatment - Negotiation of drafting terms and other conditions - School enrollment for children, etc - Closing lease agreement in contract - Assistance for opening a bank account, etc LIFESTYLE 78 New K-pop Idols Attracting Much Attention 79 Disputes over Origin of Kimchi Still Ongoing Head Office 02) www.rentcorea.com email. [email protected] 730-0001 Those in Their 30s Buy One Out of Corporate Headquarters : RentCorea B/D 1F~2F, #36-1, Seongbuk-dong, Seongbuk-ku, Seoul, Korea. Every Three Imported Cars Sold in Registration No.209-06-83139. Permit No.9230000-1709. The President/Realtor. Kiwan, Sung. Korea in 2020 05 Korea’s Most Influential Business Monthly Since 1983 TO OUR READERS S. Korea Needs To Be in Step Publisher: Park Jung-hwan Chief-in-Editor: Yu Kun-ha with Global De-Sinicization Based General Editor: Lee Kwang-soo Supplementary Editor: Lee Song-hoon Managing Editor: Huh Sung-Soo Culture/Tourism Editor: Choi Mun-hee on S. Korea-U.S. Alliance Reporter: Cho Jin-young, Marie Kim, Jung Suk-yee, Jung Min-hee, Michael Hurh, Sara Rai Contributing Writers: Seok Joon, Suh Bo-yun, Gho Chang-soo Designer: Jang Seung-eun With China-led global value chains col- International Liaison: Sara Rai lapsing in the wake of COVID-19, the global Advertising Manager: Jung eui-jung Administration Manager: Jung Min-hee enterprises’ rush out of China is predicted to Circulation Manager: Lim Moon-joo accelerate under the Joe Biden administra- PUBLISHED BY : BusinessKorea Co., Ltd. : 301 Samdo Building, 12-1 Yeoido-dong, Yeongdeungpo-gu, Seoul, Korea 150-010 tion. Google, Microsoft, Foxconn and so on Mailing Add.: 301 Samdo Building, 12-1 Yeoido-dong, Yeongdeungpo-gu, Seoul, Korea 150-010 already initiated the relocation Tel: (02)578-3220 Fax: (02)578-3224 Government Registration Number: RA-2743 Dated March 18, 1983. The new U.S. president mentioned the Printed by Hwashin Printing Tel: (02)2277-0624 restoration of alliances and unity before any- thing else. He is planning to dump the former Overseas Representatives Australia president’s America First policy, which led to McLean Media Representations Pty., Ltd. P.O.Box 544, Newtown NSW 2042, Australia international isolation, and counter China’s Tel: (612) 519-6455, Fax: (612) 577-1614 Belgium economic, military and diplomatic hegemonism. Staf Wuyts, AD International Bld. Lambermont 140 B-1030 Brussels, Belgium For this, the Joe Biden administration will share its hard-line stance Tel: (02) 216-0730, Fax: (02) 216-4632 Canada against China and North Korea with its allies, implying some friction with Globe Media International 444 Front Street West, Toronto, Ontario, Canada M5V 2S9 South Korea which is favorable to both.
Recommended publications
  • Hyundai Motor Company and Its Subsidiaries

    Hyundai Motor Company and Its Subsidiaries

    HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2017 AND 2016 ATTACHMENT: INDEPENDENT ACCOUNTANTS’ REVIEW REPORT HYUNDAI MOTOR COMPANY WorldReginfo - 91c5474f-85a7-4929-8628-024c7a780b17 Contents INDEPENDENT ACCOUNTANTS’ REVIEW REPORT ---------------------------------------------------- 1 CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF FINANCIAL POSITION ----------------------------------- 4 CONSOLIDATED STATEMENTS OF INCOME ------------------------------------------------------- 6 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME ---------------------------- 7 CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY ------------------------------------ 8 CONSOLIDATED STATEMENTS OF CASH FLOWS ----------------------------------------------- 10 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ---------------------------------------- 12 WorldReginfo - 91c5474f-85a7-4929-8628-024c7a780b17 Deloitte Anjin LLC 9F., One IFC, 10, Gukjegeumyung-ro, Youngdeungpo-gu, Seoul 07326, Korea Tel: +82 (2) 6676 1000 Fax: +82 (2) 6674 2114 www.deloitteanjin.co.kr INDEPENDENT ACCOUNTANTS’ REVIEW REPORT English Translation of Independent Accountants’ Review Report Originally Issued in Korean on August 14, 2017 To the Shareholders and the Board of Directors of Hyundai Motor Company: We have reviewed the accompanying condensed consolidated financial statements of Hyundai Motor Company (the “Company”) and its subsidiaries. The condensed consolidated financial statements consist of the condensed
  • Fenomén K-Pop a Jeho Sociokulturní Kontexty Phenomenon K-Pop and Its

    Fenomén K-Pop a Jeho Sociokulturní Kontexty Phenomenon K-Pop and Its

    UNIVERZITA PALACKÉHO V OLOMOUCI PEDAGOGICKÁ FAKULTA Katedra hudební výchovy Fenomén k-pop a jeho sociokulturní kontexty Phenomenon k-pop and its socio-cultural contexts Diplomová práce Autorka práce: Bc. Eliška Hlubinková Vedoucí práce: Mgr. Filip Krejčí, Ph.D. Olomouc 2020 Poděkování Upřímně děkuji vedoucímu práce Mgr. Filipu Krejčímu, Ph.D., za jeho odborné vedení při vypracovávání této diplomové práce. Dále si cením pomoci studentů Katedry asijských studií univerzity Palackého a členů české k-pop komunity, kteří mi pomohli se zpracováním tohoto tématu. Děkuji jim za jejich profesionální přístup, rady a celkovou pomoc s tímto tématem. Prohlášení Prohlašuji, že jsem diplomovou práci vypracovala samostatně s použitím uvedené literatury a dalších informačních zdrojů. V Olomouci dne Podpis Anotace Práce se zabývá hudebním žánrem k-pop, historií jeho vzniku, umělci, jejich rozvojem, a celkovým vlivem žánru na společnost. Snaží se přiblížit tento styl, který obsahuje řadu hudebních, tanečních a kulturních směrů, široké veřejnosti. Mimo samotnou podobu a historii k-popu se práce věnuje i temným stránkám tohoto fenoménu. V závislosti na dostupnosti literárních a internetových zdrojů zpracovává historii žánru od jeho vzniku až do roku 2020, spolu s tvorbou a úspěchy jihokorejských umělců. Součástí práce je i zpracování dvou dotazníků. Jeden zpracovává názor české veřejnosti na k-pop, druhý byl mířený na českou k-pop komunitu a její myšlenky ohledně tohoto žánru. Abstract This master´s thesis is describing music genre k-pop, its history, artists and their own evolution, and impact of the genre on society. It is also trying to introduce this genre, full of diverse music, dance and culture movements, to the public.
  • Qatar Pavilion at Hannover Fair Attracts Huge Turnout of Visitors

    Qatar Pavilion at Hannover Fair Attracts Huge Turnout of Visitors

    Friday, April 5, 2019 Rajab 29, 1440 AH MERGER PLANS: Page 10 GULF TIMES Commerzbank is said to enter key weekend BUSINESS in Deutsche Bank talks Qatar pavilion at Hannover Fair attracts huge turnout of visitors atar’s pavilion at the Hanno- identifying the potential of other par- ver Fair 2019 has seen a large ticipants, drawing on their expertise Qturnout of businessmen, offi- and identifying opportunities that cials, representatives of the industri- benefi t Qatari companies. al and trade sectors and international “We are also seeking to introduce media. participants and visitors to Qatar The 1000-square metre pavilion the Rail’s projects, which consist in fi rst Ministry of Commerce and Industry phase of 37 stations, including 31 un- hosted for the second consecutive year derground stations and six ground brought together representatives of the stations as well as rail lines that will Qatar Chamber, the Qatar Financial serve the regions of Doha, Al Wakrah Centre, Manateq, the Qatar Free Zones and Lusail, to be completed in 2020. Authority, the Supreme Committee The second phase will be implement- for Delivery & Legacy, Qatar Railways ed to promote sustainable develop- Company (Qatar Rail), the Qatar De- ment in line with the Qatar National velopment Bank and the Qatar Science Vision 2030.” and Technology Park. Nasser al-Nuaimi, representative of Participating private companies in- the Supreme Committee for Delivery cluded Qatar Industrial Manufactur- & Legacy, said the committee seeks to ing Company (QIMC), Ebn Sina Medi- showcase stadiums including Al Thu- cal, Qatar Aluminium (Qatalum), Doha mama, Khalifa International, Educa- Cables, Bin Aman Plastic Industries Qatar’s pavilion at the Hannover Fair 2019 has seen a large turnout of visitors, including businessmen, offi cials, representatives of the industrial tional City, Ras Abu Aboud, Al Rayyan, and Qatar Steel.
  • HHI Group Integrated Report

    HHI Group Integrated Report

    2019 HHI GROUP INTEGRATED REPORT 2019 HHI GROUP INTEGRATED REPORT Our Integrated Report 2019 introduces sustainable management outcomes achieved by Hyundai Heavy Industries Group’s listed companies. To provide relevant information to stakeholders, core issues derived from our materiality assessment are reported on the basis of our group’s five management philosophies. Reporting Principles ˙ GRI (Global Reporting Initiative) Standards (Core) ˙ International Integrated Reporting Council’s (IIRC) integrated reporting framework HHI GROUP Reporting Boundary ˙ Sustainability Performance: listed companies only (HHI Holdings, HHI, INTEGRATED REPORT 2019 Hyundai Electric, HCE and HMD) ˙ Business Review & 2018 HIGHLIGHTS: Hyundai Oilbank and Hyundai Global Service also included as subsidiaries of HHI Holdings ˙ Financial Highlights: consolidated basis with all affiliated entities of the Group included Reporting Scope Overall economic (under K-IFRS), social and environmental aspects of our sustainability management Reporting Period For the year ended Dec. 31, 2018 (with exceptions for some of the achievements: Jan 2016 to Mar 2019) Reporting Frequency Annual (last report issued in June 2018) Reporting Assurance Third party’s independent assurance (overall sustainability management, GHG emissions and energy consumption separately verified) HHI Group integrated report 2019 is available on our website (www.hyundai-holdings.com). As an interactive PDF for more convenient user experience. 2018 HIGHLIGHTS 2018 HIGHLIGHTS Hyundai Oilbank Pre-IPO investment agreement with Saudi Aramco Hyundai Oilbank signed a pre-IPO investment agreement with Saudi Arabia’s state-owned oil giant Aramco, worth up to KRW 1.8 trillion. Responsible for 15% of the crude oil being produced globally, Aramco was attracted to the impressive growth potential of Hyundai Oilbank as demonstrated by its notable advancement ratio (40.6%) and profitability, both of which are the highest among Korean oil refiners.
  • GLOBAL SUSTAIN LEADING COMPANY Contents

    GLOBAL SUSTAIN LEADING COMPANY Contents

    BROCHURE 2021 BROCHURE BROCHURE 2021 GLOBAL SUSTAIN LEADING COMPANY contents 04 Group History SHIPPING INDUSTRY 06 Group Vision KOREA LINE CORPORATION 07 Business Portfolio 64 66 KOREA SHIPPING CORPORATION 68 SM LINE CORPORATION MANUFACTURING 70 SM LINE GYEONGIN TERMINAL 72 KLCSM TK CHEMICAL 10 KOLICO 12 BEXEL 14 NAMSUN ALUMINUM 16 NAMSUN ALUMINUM Automotive Parts MEDIA·SERVICE 18 SM INDUSTRY GMB 76 ULSAN BROADCASTING CORPORATION 20 SM INDUSTRY KT CERAMIC 78 SM HIPLUS 22 SM INDUSTRY CHEMICAL The World's Leading Company 80 SM CREDIT INFORMATION 24 SM INDUSTRY MTAT 82 SM ASSET MANAGEMENT CORPORATION 26 SM INDUSTRY AUTOMOTIVE 84 SAMWHAN COSMETICS DEPARTMENT for Innovation and Technology 28 SM INDUSTRY SEOULIM SINCHON STATION 30 SM HIGH TECH BAROKOSA 32 SM STEEL E-KOSA 34 SM HEAVY INDUSTRIES SM GLOBAL DISTRIBUTION 36 HANDUK IRON MINE & CONSTRUCTION 38 E&H 40 SM HWAJIN LEISURE 88 HOTEL TOPS 10 CONSTRUCTION 89 TOPS 10 RESORT DONGGANG CISTAR C.C 90 TOPS 10 VILLA DE AEWOL JEJU 44 KEANGNAM ENTERPRISES 91 TOPS 10 OXFIELD C.C 46 SAMWHAN CORPORATION /TOPS 10 APPLE VALLEY C.C 48 WOOBANG 50 DONGAH CONSTRUCTION INDUSTRIAL 52 WOOBANG INDUSTRIAL 54 SAMRA 56 TAEKIL CONSTRUCTION 58 SM LINE Construction Department 60 TK CHEMICAL Construction Department Since its establishment in 1988, SM Group is growing as one of GROUP HISTORY the world’s best corporations by pursuing challenges and innovations. 1988~ 2005~ 2010~ 2013~ Foundation of Business Business Growth Building Momentum Accelerating Global Business 1988.01 2005 2010 2013 Established Samra Co., Ltd.
  • – 1 – Billing Code: 4410-11 DEPARTMENT OF

    – 1 – Billing Code: 4410-11 DEPARTMENT OF

    This document is scheduled to be published in the Federal Register on 03/27/2019 and available online at https://federalregister.gov/d/2019-05844, and on govinfo.gov Billing Code: 4410-11 DEPARTMENT OF JUSTICE Antitrust Division United States v. Hyundai Oilbank Co., Ltd., et al.; Proposed Final Judgments and Competitive Impact Statement Notice is hereby given pursuant to the Antitrust Procedures and Penalties Act, 15 U.S.C. § 16(b)-(h), that proposed Final Judgments, Stipulations, and a Competitive Impact Statement have been filed with the United States District Court for the Southern District of Ohio in United States v. Hyundai Oilbank Co., Ltd., et al., Case No. 2:19-cv- 1037. On March 20, 2019, the United States filed a Complaint alleging that between 2005 and 2016, Hyundai Oilbank Co., Ltd. (“Hyundai Oilbank”) and S-Oil Corporation (“S-Oil”), along with other co-conspirators, conspired to rig bids for Posts, Camps & Stations (PC&S) and Army and Air Force Exchange Service (AAFES) fuel supply contracts with the U.S. military in South Korea, in violation of Section 1 of the Sherman Act, 15 U.S.C. § 1. A proposed Final Judgment for each Defendant, filed at the same time as the Complaint, requires Hyundai Oilbank and S-Oil to pay the United States, respectively, $39,100,000 and $12,980,000. In addition, each Defendant has agreed to cooperate with further civil investigative and judicial proceedings and to institute an antitrust compliance program. Copies of the Complaint, proposed Final Judgments, and Competitive Impact Statement are available for inspection on the Antitrust Division’s website at http://www.justice.gov/atr and at the Office of the Clerk of the United States District Court for the Southern District of Ohio.
  • Your Partner, Hyundai Engineering 2010~2011 HYUNDAI ENGINEERING SUSTAINABILITY REPORT About This Report

    Your Partner, Hyundai Engineering 2010~2011 HYUNDAI ENGINEERING SUSTAINABILITY REPORT About This Report

    Your Partner, Hyundai Engineering 2010~2011 HYUNDAI ENGINEERING SUSTAINABILITY REPORT About this Report Reporting Information This is the second sustainability report published by Hyundai Engineering, which includes its efforts for sustainable growth and performances in the economic, en- vironmental and social areas. This report will serve as the momentum for the ex- amination of the sustainable management, and Hyundai Engineering hopes this second publication becomes a communication channel for co-development with stakeholders. Reporting Scope and Period This report covers activities and performances of Hyundai Engineering’s sustain- able management for two years from January 1, 2010 to December 31, 2011. Reporting and Assurance Standards This report was prepared in accordance with the GRI (Global Reporting Initiative) G3.1 Guidelines together with the guidance on ISO 26000 and UNGC. The reliability of the contents was verified through the DNV Protocol for Verification of Sustainability Reporting V.3.0 standard by DNV, a third-party assurance institute. For more details about the result, please refer to the third-party verification report. Detailed Information on the Report This report in PDF version is available from the website. For more information or inquiries on this report, please contact: Team CSR Representative, Planning Team, Planning Office E-mail [email protected] Tel 82-2-2166-3824 Fax 82-2-2646-1503 Website www.hec.co.kr Address Hyundai 41 Tower Bldg., 917-9, Mok 1-dong, Yangcheon-gu, Seoul, Korea Philosophy A blueprint connecting the past, present and future of Hyundai Motor Group Since its establishment Hyundai Motor Group has built a history of success based on challenge and passion.
  • One-Asia Morning Focus

    One-Asia Morning Focus

    November 17, 2020 One-Asia Morning Focus Today’s reports JYP Entertainment (035900 KQ/Buy/TP: W47,000) Upgrade rating/Raise TP – New group debut, potential concert return NCsoft (036570 KS/Buy/TP: W1,260,000) – New titles, new platforms, and new markets in 2021 Vatech (043150 KQ/Buy/TP: W33,000) – Riding out the storm while strengthening competitiveness Rayence (228850 KQ/Buy/TP: W17,000) – Another disappointing quarter Global performance monitor: Two-day change (%) Asia xJPN World EM World DM Korea Japan China Taiwan HK India Indonesia Singapore Thailand Index 0.94 0.81 0.07 4.00 0.95 2.17 3.38 -1.14 0.88 0.79 1.49 0.90 Growth 1.66 2.89 0.21 4.01 0.87 5.00 5.16 -0.75 0.84 0.70 1.63 0.70 Value -0.94 -0.88 0.55 3.99 1.04 -1.35 1.06 -1.64 0.92 0.87 1.36 1.09 Semicon. & equip. 1.14 1.14 0.21 11.79 6.25 -1.04 5.25 2.35 N/A N/A N/A N/A Tech hardware & equip. 1.77 1.79 0.40 7.21 0.73 -1.47 1.42 -1.15 1.44 N/A 1.69 N/A Comm. & prof. services 2.40 2.40 -0.24 0.50 1.34 -1.81 0.57 N/A 1.32 1.42 N/A N/A Software & services 0.45 0.42 -0.21 0.69 -1.51 2.28 0.30 5.51 0.77 N/A 6.17 N/A Media & entertainment 6.50 6.18 1.80 0.89 -0.71 0.34 1.63 0.76 2.08 N/A N/A N/A Consumer goods 1.49 1.20 -0.22 0.62 3.29 0.96 1.17 N/A 0.19 0.36 N/A -0.22 Consumer services 1.27 1.85 -0.12 -1.90 0.21 0.50 4.71 -0.86 4.10 -0.68 8.22 2.92 F&B & tobacco 0.35 0.07 0.12 -0.56 0.98 1.01 0.60 1.38 0.55 0.43 1.57 -0.27 Food & staples retailing -0.90 0.47 0.96 -0.56 1.07 -0.25 0.06 -1.86 -1.05 N/A -0.47 -0.28 Retailing 3.36 3.14 0.92 0.54 3.31 -2.92 4.78 0.12 1.39 0.72 2.52 3.02
  • Chapter 5: the 1997-98 Crisis and Its Aftermath

    Chapter 5: the 1997-98 Crisis and Its Aftermath

    5 The 1997-98 Crisis and Its Aftermath The Crisis in Korea Unfolds The 1997 Asian financial crisis, in which Korea figures importantly but not exclusively, has become one of the most written-about subjects in contem- porary economics. Thus, I have no intention here of repeating in any depth what is covered well elsewhere; rather, only a summary of main events follows.1 Views among analysts vary as to exactly why the crisis in Korea occurred. Steven Radelet and Jeffrey Sachs (1998), for example, argue that the crisis in Korea was almost entirely a result of volatility of international financial flows. They claim that the “fundamentals” of the Korean economy were sound and that there was no reason, apart from the withdrawal of funds from Korea by international investors, why the econ- omy should have undergone the crisis that in fact did occur. This interpretation is, of course, somewhat at variance with the story told here. Without question, the classical macroeconomic fundamentals of Korea appeared sound in the middle of 1997; inflation was low, there was a government fiscal surplus, overall growth was positive, and the balance of payments on the current account, while in deficit, was not seriously so 1. For more detailed descriptions and analyses of the crisis, the reader should see, e.g., Goldstein (1998) or Haggard (2000). Also, Nanto and Jones (1997) provide an excellent summary and analysis of the early stages of the crisis as it affected Korea in 1997. Warr (2000) gives an analysis of the macroeconomic aspects of the crisis, and Smith (2000) offers an account of how macroeconomic and structural factors interacted as the crisis developed.
  • 'Pension Fund Socialism' Stewardship Code

    'Pension Fund Socialism' Stewardship Code

    FOCUS MONEY INDUSTRY POST SEMICONDUCTOR TaX PROBES INTO MULTINATIONAL FIRMS A LOCAL ECONOMIC DaILY REPORTS SK Group Accelerating EV Battery S. Korea’s Tax Agency to Strengthen Taxation GM and KDB Made Secret Deal to Business on Multinational Firms Facilitate Former’s Withdrawal from Korea MARCH 2019 / VOL. 32 NO. 390 www.businesskorea.co.kr Concerns on ‘Pension Fund Socialism’ under the Name of Stewardship Code 12,000 won 03 ISSN 1016-5304 Contents 2019 / Vol.32 No.390 FOCUS 08 SK Group Accelerating EV Battery Business NATIONAL 10 North Gyeongsang Province: Changing Manufacturing Paradigmto Meet Challenges of 4th Industrial Revolution 12 Songdo American Town Helps Korean-Americans Move back and Settle in Korea 14 S. Korea’s Income Polarization Deepens, Solidifying Winner-take-all Economy 15 S. Korea’s Budget Likely to Surpass 500 Tril. Won in 2020 16 Korea's Short-Term Foreign Debt Reaches 6-Year High 17 South Korea’s Exports Fall for Third Consecutive Month 18 77 Export Items of South Korea Enjoy World’s Highest Market Shares Korea's Terms of Trade Worsens for 15 Consecutive Months 20 Korea's Rush for LNG Power Generation Only Benefits Foreign Companies 21 Import Fees on LNG for Power Generation to Be Cut 84% Starting on April 1 22 S. Korea Hastily Lifts LPG Car Restrictions Without Considering the Downsides 23 Manufacturers Have Trouble Securing Carbon Credits Due to Sharp Decline in Trading 24 KEF Warns Expansion of Scope of Ordinary Wage Will Lead to Adverse Effects Korea’s Unionization Ratio, Collective Bargaining Coverage Problematically Low 25 SMEs Hiring Foreign Workers Bear Extra Burden Under Revised Minimum Wage Law COVER STORY 26 Concern over ‘Pension Fund Socialism’ Growing in Korean Business Community 28 Spread of Shareholder Activism Puts Listed Korean Companies on Edge MONEY 30 S&P Warns Major S.
  • JYP Entertainment Buy (035900 KQ ) (Maintain)

    JYP Entertainment Buy (035900 KQ ) (Maintain)

    [Korea] Entertainment May 17, 2021 JYP Entertainment Buy (035900 KQ ) (Maintain) Solid earnings despite absence of concerts TP: W47,000 Upside: 30.9% Mirae Asset Securities Co., Ltd. Jeong -yeob Park [email protected] 1Q21 review : Better than Consolidated revenue of W32.3bn ( -4.9% YoY), OP of W13.8bn (+2.5% YoY) expected Although 1Q21 revenue contracted on a void in artist activities, OP margin hit a record high of 42.6%, bolstered by the impact of strong digital content revenue. Gross margin improved 5.6%p YoY to 65.1%, thanks to overseas content-driven growth (higher mix of non-management revenue). 1) Album/digital music (+44.1% YoY): Overseas digital music revenue soared 141% YoY, boosted by a new contract with a Chinese company. Album revenue grew 25% YoY. 2) Management (-28.5% YoY): Performance/appearance revenue declined, though advertising revenue modestly recovered (+17% QoQ). 3) Merchandise/other (-26.0% YoY): Merchandise revenue slumped 67% YoY, but YouTube revenue continued to grow (+112% YoY to W3.4bn). Despite an uptick in SG&A expenses (+7.5% YoY), the shift in the income structure from management to content improved underlying profitability. Robust earnings expected in New artist projects and artist activities to gather steam 2021 Following a lull in 1Q21, JYP’s artist lineup will become active again from 2Q21, with 2PM (full group) and TWICE (individual ads and comebacks every two months) resuming activities, ITZY releasing a new album every quarter, and Stray Kids continuing activities. Given the growing fan bases of the next-generation artist lineup (Stray Kids and ITZY) , expectations on album sales are increasing every year.
  • Hyundai Motor Company and Its Subsidiaries

    Hyundai Motor Company and Its Subsidiaries

    HYUNDAI MOTOR COMPANY AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 2017 AND 2016 ATTACHMENT: INDEPENDENT ACCOUNTANTS’ REVIEW REPORT HYUNDAI MOTOR COMPANY WorldReginfo - e9b7a953-858a-4220-ab2a-34e332aabea7 Contents INDEPENDENT ACCOUNTANTS’ REVIEW REPORT ---------------------------------------------------- 1 CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF FINANCIAL POSITION ----------------------------------- 4 CONSOLIDATED STATEMENTS OF INCOME ------------------------------------------------------- 6 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME ---------------------------- 7 CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY ------------------------------------ 8 CONSOLIDATED STATEMENTS OF CASH FLOWS ----------------------------------------------- 10 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ---------------------------------------- 12 WorldReginfo - e9b7a953-858a-4220-ab2a-34e332aabea7 Deloitte Anjin LLC 9F., One IFC, 10, Gukjegeumyung-ro, Youngdeungpo-gu, Seoul 07326, Korea Tel: +82 (2) 6676 1000 Fax: +82 (2) 6674 2114 www.deloitteanjin.co.kr INDEPENDENT ACCOUNTANTS’ REVIEW REPORT English Translation of Independent Accountants’ Review Report Originally Issued in Korean on November 14, 2017 To the Shareholders and the Board of Directors of Hyundai Motor Company: We have reviewed the accompanying condensed consolidated financial statements of Hyundai Motor Company (the “Company”) and its subsidiaries. The condensed consolidated financial statements consist of