DOCSLIB.ORG

Morning Focus

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

January 3, 2018 KOREA Morning Focus Company News & Analysis Major Indices Close Chg Chg (%) POSCO (005490/Buy/TP: W450,000) KOSPI 2,479.65 12.16 0.49 Earnings to continue to climb higher KOSPI 200 326.00 1.26 0.39 KOSDAQ 812.45 14.03 1.76 Sector News & Analysis Turnover ('000 shares, Wbn) Volume Value Auto (Overweight) KOSPI 230,256 4,601 Auto sales end 2017 on a disappointing note KOSPI 200 70,198 3,653 KOSDAQ 977,967 6,567 Market Cap (Wbn) Value KOSPI 1,613,508 KOSDAQ 287,930 KOSPI Turnover (Wbn) Buy Sell Net Foreign 1,149 1,019 130 Institutional 937 1,080 -143 Retail 2,448 2,475 -27 KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 448 361 87 Institutional 262 355 -93 Retail 5,861 5,840 21 Program Buy / Sell (Wbn) Buy Sell Net KOSPI 1,051 956 96 KOSDAQ 198 203 -5 Advances & Declines Advances Declines Unchanged KOSPI 498 305 76 KOSDAQ 834 337 80 KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Samsung Electronics 2,551,000 3,000 432 KODEX KOSDAQ150 20,440 640 264 LEVERAGE Daum Communications 146,500 9,500 193 SAMSUNG BIOLOGICS 389,500 18,500 156 Hynix 76,600 100 154 KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value SillaJen 102,500 9,000 670 Diostech 29,250 6,750 356 Celltrion Healthcare 106,700 -1,900 295 Sky Newpharm 7,580 1,340 269 Celltrion 225,900 4,800 261 Note: As of January 2, 2018 Mirae Asset Daewoo Research POSCO (005490 KS) Earnings to continue to climb higher Steel 4Q17 preview: Earnings improvement to continue Earnings Preview For 4Q17, we see POSCO’s non-consolidated operating profit coming in at W853bn January 3, 2018 (+18.1% QoQ, +74.7% YoY). We believe the main driver of earnings growth was higher steel prices. In 4Q17, China’s spot price for hot-rolled coil (HRC), a key benchmark of steel prices, gained 4.5% QoQ and 24.6% YoY to an average of RMB4,153/tonne, while the domestic spot HRC price also rose 5.5% QoQ and 20.5% YoY to W777,000/tonne. (Maintain) Buy Steel price uptrend to continue; 1Q18 to be even better than 4Q17 We expect the uptrend in steel prices to extend into 2018, driven by the continued Target Price(12M, W) 450,000 improvement in China’s supply/demand dynamics (see our November 17th report “Structural changes underway”). Chinese steelmakers’ profit margins have improved Share Price (01/02/18, W) 339,000 for the past couple of years thanks to the government’s supply-side restructuring (closures of outdated and illegal facilities) and demand-boosting policies, but are still Expected Return 33% below the manufacturing sector average. The steel sector’s debt ratio also remains 1.7 times higher than the manufacturing sector average. As such, we think it is likely that the Chinese government will maintain its current policy stance. OP (17F, Wbn) 4,703 Consensus OP (17F, Wbn) 4,694 In particular, we could see a steeper-than-expected price rise in 1Q18 as Chinese traders build up inventory amid the government’s winter production restrictions (from EPS Growth (17F, %) 121.6 November 2017 to March 2018). We expect the winter production cuts to affect around Market EPS Growth (17F, %) 46.7 40mn tonnes of steel, equivalent to 12% of China’s total output during the season (see P/E (17F, x) 9.6 our November 21st report “China’s winter production cuts to support robust roll Market P/E (17F, x) 10.0 margins”). KOSPI 2,479.65 Reaffirm Buy and TP of W450,000 Market Cap (Wbn) 29,556 We reaffirm our Buy call and target price of W450,000 on POSCO. We expect the Shares Outstanding (mn) 87 continued uptrend in steel prices to support higher product pricing at the parent level Free Float (%) 78.8 and earnings growth at steel subsidiaries. Non-steel earnings should also improve now Foreign Ownership (%) 56.1 that group restructuring is complete. POSCO’s stock is currently trading at a 12-month Beta (12M) 0.43 forward P/E of 9.1x and P/B of 0.6x, a discount to major competitors such as China’s 52-Week Low 244,000 Baoshan I&S (P/E of 11x and P/B of 1.2x) and Japan’s NSSMC (P/E of 11x and P/B of 52-Week High 347,000 0.8x). (%) 1M 6M 12M Absolute 3.2 18.1 30.1 Relative 3.0 13.9 6.3 140 POSCO KOSPI 130 120 110 100 90 80 12.16 4.17 8.17 12.17 Mirae Asset Daewoo Co., Ltd. [ Metals & Mining] FY (Dec.) 12/14 12/15 12/16 12/17F 12/18F 12/19F Revenue (Wbn) 65,098 58,192 53,084 59,571 62,479 64,954 Jaekwang Rhee +822-3774-6022 OP (Wbn) 3,214 2,410 2,844 4,703 5,096 5,226 [email protected] OP margin (%) 4.9 4.1 5.4 7.9 8.2 8.0 NP (Wbn) 626 181 1,363 3,021 3,265 3,356 EPS (W) 7,181 2,072 15,637 34,650 37,449 38,495 ROE (%) 1.5 0.4 3.3 7.0 7.1 6.9 P/E (x) 38.4 80.4 16.5 9.6 9.1 8.8 P/B (x) 0.6 0.3 0.5 0.6 0.6 0.6 Dividend yield (%) 2.9 4.8 3.1 3.1 3.0 3.0 Note: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, Mirae Asset Daewoo Research estimates Analysts who prepared this report are registered as research analysts in Korea but not in any other jurisdiction, including the U.S. PLEASE SEE ANALYST CERTIFICATIONS AND IMPORTANT DISCLOSURES & DISCLAIMERS IN APPENDIX 1 AT THE END OF REPORT. January 3, 2018 POSCO Table 1. Quarterly and annual earnings (Wbn, %) 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17F 2016 2017F 2018F Sales 12,461 12,857 12,748 15,017 15,077 14,944 15,036 14,514 53,084 59,682 61,477 POSCO (parent) 5,767 6,010 6,107 6,442 7,067 7,134 7,255 7,603 24,325 29,127 30,680 Subsidiaries 6,694 6,848 6,641 8,576 8,010 7,810 7,781 6,911 28,759 30,555 30,797 Operating profit 660 679 1,034 472 1,365 979 1,126 1,233 2,844 4,772 5,194 POSCO (parent) 582 713 852 488 795 585 722 853 2,635 3,022 3,680 Subsidiaries 78 (34) 182 (16) 570 394 404 381 209 1,750 1,514 Pretax profit 545 268 663 (44) 1,325 773 1,231 1,126 1,433 4,455 4,664 Net profit 360 292 546 166 851 513 869 788 1,363 3,021 3,265 Profitability (%) OP margin 5.3 5.3 8.1 3.1 9.1 6.6 7.5 8.5 5.4 8.0 8.4 POSCO (parent) 10.1 11.9 14.0 7.6 11.3 8.2 9.9 11.2 10.8 10.4 12.0 Subsidiaries 1.2 (0.5) 2.7 (0.2) 7.1 5.0 5.2 5.5 0.7 5.7 4.9 Pretax margin 4.4 2.1 5.2 (0.3) 8.8 5.2 8.2 7.8 2.7 7.5 7.6 Net margin 2.9 2.3 4.3 1.1 5.6 3.4 5.8 5.4 2.6 5.1 5.3 Source: Mirae Asset Daewoo Research estimates Table 2. Key assumptions (Wbn, ‘000 tonnes, W’000/tonne) (Parent) 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17F 2016 2017F 2018F Sales (Wbn) 5,767 6,010 6,107 6,442 7,067 7,134 7,255 7,603 24,325 29,127 30,680 Carbon steel 4,561 4,732 4,808 5,074 5,525 5,606 5,796 6,078 19,176 23,047 24,480 STS 816 907 916 933 1,078 1,088 1,057 1,075 3,573 4,323 4,400 Other 389 371 383 434 464 441 402 450 1,577 1,757 1,800 Shipments ('000 tonnes) 8,740 9,005 8,945 9,185 8,722 8,463 8,962 9,000 35,875 35,146 36,000 Carbon steel 8,277 8,492 8,440 8,702 8,239 7,953 8,440 8,500 33,911 33,133 34,000 STS 463 513 505 483 483 509 521 500 1,964 2,013 2,000 ASP (W'000/tonne) 660 667 683 701 810 843 810 845 678 829 852 Carbon steel 551 557 570 583 671 705 687 715 565 696 720 STS 1,764 1,767 1,814 1,931 2,235 2,137 2,028 2,150 1,819 2,148 2,200 Cost per tonne (W'000/tonne) 593 588 587 648 719 774 729 750 605 743 750 OP per tonne (W'000/tonne) 67 79 95 53 91 69 81 95 73 86 102 Source: Mirae Asset Daewoo Research estimates Mirae Asset Daewoo Research 2 Auto Overweight (Maintain) Auto sales end 2017 on a disappointing note December domestic sales hit by HMC’s production disruptions HMC’s and Kia’s 2017 global wholesales fall 6.5% and 7.8% YoY, respectively Issue Comment Additional headwinds to weigh on 4Q17 earnings January 3, 2018 1.
Recommended publications
  • FTSE Korea 30/18 Capped

    FTSE Korea 30/18 Capped

    2 FTSE Russell Publications 19 August 2021 FTSE Korea 30/18 Capped Indicative Index Weight Data as at Closing on 30 June 2021 Index weight Index weight Index weight Constituent Country Constituent Country Constituent Country (%) (%) (%) Alteogen 0.19 KOREA Hyundai Engineering & Construction 0.35 KOREA NH Investment & Securities 0.14 KOREA AmoreG 0.15 KOREA Hyundai Glovis 0.32 KOREA NHN 0.07 KOREA Amorepacific Corp 0.65 KOREA Hyundai Heavy Industries 0.29 KOREA Nong Shim 0.08 KOREA Amorepacific Pfd. 0.08 KOREA Hyundai Marine & Fire Insurance 0.13 KOREA OCI 0.17 KOREA BGF Retail 0.09 KOREA Hyundai Merchant Marine 1.02 KOREA Orion 0.21 KOREA BNK Financial Group 0.18 KOREA Hyundai Mipo Dockyard 0.15 KOREA Ottogi 0.06 KOREA Celltrion Healthcare 0.68 KOREA Hyundai Mobis 1.53 KOREA Paradise 0.07 KOREA Celltrion Inc 2.29 KOREA Hyundai Motor 2.74 KOREA Posco 1.85 KOREA Celltrion Pharm 0.24 KOREA Hyundai Motor 2nd Pfd. 0.33 KOREA Posco Chemical 0.32 KOREA Cheil Worldwide 0.14 KOREA Hyundai Motor Pfd. 0.21 KOREA Posco International 0.09 KOREA CJ Cheiljedang 0.3 KOREA Hyundai Steel 0.33 KOREA S1 Corporation 0.13 KOREA CJ CheilJedang Pfd. 0.02 KOREA Hyundai Wia 0.13 KOREA Samsung Biologics 0.92 KOREA CJ Corp 0.11 KOREA Industrial Bank of Korea 0.22 KOREA Samsung C&T 0.94 KOREA CJ ENM 0.15 KOREA Kakao 3.65 KOREA Samsung Card 0.08 KOREA CJ Logistics 0.12 KOREA Kangwon Land 0.23 KOREA Samsung Electro-Mechanics 0.81 KOREA Coway 0.36 KOREA KB Financial Group 1.78 KOREA Samsung Electronics 25.36 KOREA Daewoo Engineering & Construction 0.12 KOREA KCC Corp 0.12 KOREA Samsung Electronics Pfd.
  • Holdings-Report.Pdf

    Holdings-Report.Pdf

    The Fund is a closed-end exchange traded management Investment company. This material is presented only to provide information and is not intended for trading purposes. Closed-end funds, unlike open-end funds are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. Changes to investment policies, current management fees, and other matters of interest to investors may be found in each closed-end fund's most recent report to shareholders. Holdings are subject to change daily. PORTFOLIO HOLDINGS FOR THE KOREA FUND as of July 31, 2021 *Note: Cash (including for these purposes cash equivalents) is not included. Security Description Shares/Par Value Base Market Value (USD) Percent of Base Market Value SAMSUNG ELECTRONICS CO 793,950 54,183,938.27 20.99 SK HYNIX INC COMMON 197,500 19,316,452.95 7.48 NAVER CORP COMMON STOCK 37,800 14,245,859.60 5.52 LG CHEM LTD COMMON STOCK 15,450 11,309,628.34 4.38 HANA FINANCIAL GROUP INC 225,900 8,533,236.25 3.31 SK INNOVATION CO LTD 38,200 8,402,173.44 3.26 KIA CORP COMMON STOCK 107,000 7,776,744.19 3.01 HYUNDAI MOBIS CO LTD 26,450 6,128,167.79 2.37 HYUNDAI MOTOR CO 66,700 6,030,688.98 2.34 NCSOFT CORP COMMON STOCK 8,100 5,802,564.66 2.25 SAMSUNG BIOLOGICS CO LTD 7,230 5,594,175.18 2.17 KB FINANCIAL GROUP INC 123,000 5,485,677.03 2.13 KAKAO CORP COMMON STOCK 42,700 5,456,987.61 2.11 HUGEL INC COMMON STOCK 24,900 5,169,415.34 2.00 SAMSUNG 29,900 4,990,915.02 1.93 SK TELECOM CO LTD COMMON 17,500 4,579,439.25 1.77 KOREA INVESTMENT 53,100 4,427,115.84
  • Samsung Electronics Co., Ltd. and Its Subsidiaries NOTES to INTERIM

    Samsung Electronics Co., Ltd. and Its Subsidiaries NOTES to INTERIM

    Samsung Electronics Co., Ltd. and its Subsidiaries NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS 1. General Information 1.1 Company Overview Samsung Electronics Co., Ltd. (“SEC”) was incorporated under the laws of the Republic of Korea in 1969 and listed its shares on the Korea Stock Exchange in 1975. SEC and its subsidiaries (collectively referred to as the “Company”) operate four business divisions: Consumer Electronics (“CE”), Information technology & Mobile communications (“IM”), Device Solutions (“DS”) and Harman. The CE division includes digital TVs, monitors, air conditioners and refrigerators and the IM division includes mobile phones, communication systems, and computers. The DS division includes products such as Memory, Foundry and System LSI in the semiconductor business (“Semiconductor”), and LCD and OLED panels in the display business (“DP”). The Harman division includes connected car systems, audio and visual products, enterprise automation solutions and connected services. The Company is domiciled in the Republic of Korea and the address of its registered office is Suwon, the Republic of Korea. These interim consolidated financial statements have been prepared in accordance with Korean International Financial Reporting Standards (“Korean IFRS”) 1110, Consolidated Financial Statements. SEC, as the controlling company, consolidates its 256 subsidiaries including Samsung Display and Samsung Electronics America. The Company also applies the equity method of accounting for its 41 associates, including Samsung Electro-Mechanics.
  • Samsung Electronics Co., Ltd. and Its Subsidiaries NOTES

    Samsung Electronics Co., Ltd. and Its Subsidiaries NOTES

    Samsung Electronics Co., Ltd. and its Subsidiaries NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS 1. General Information 1.1 Company Overview Samsung Electronics Co., Ltd. (“SEC”) was incorporated under the laws of the Republic of Korea in 1969 and listed its shares on the Korea Stock Exchange in 1975. SEC and its subsidiaries (collectively referred to as the “Company”) operate four business divisions: Consumer Electronics (“CE”), Information technology & Mobile communications (“IM”), Device Solutions (“DS”) and Harman. The CE division includes digital TVs, monitors, air conditioners and refrigerators and the IM division includes mobile phones, communication systems, and computers. The DS division includes products such as Memory, Foundry and System LSI in the semiconductor business (“Semiconductor”), and LCD and OLED panels in the display business (“DP”). The Harman division includes connected car systems, audio and visual products, enterprise automation solutions and connected services. The Company is domiciled in the Republic of Korea and the address of its registered office is Suwon, the Republic of Korea. These interim consolidated financial statements have been prepared in accordance with Korean International Financial Reporting Standards (“Korean IFRS”) 1110, Consolidated Financial Statements. SEC, as the controlling company, consolidates its 252 subsidiaries including Samsung Display and Samsung Electronics America. The Company also applies the equity method of accounting for its 46 associates and joint ventures, including
  • Victory Fund Holdings Victory Vif Sophus

    Victory Fund Holdings Victory Vif Sophus

    VICTORY FUND HOLDINGS As of June 30, 2021 VICTORY VIF SOPHUS EMERGING MARKETS MATURITY TRADED MARKET TRADED MARKET SECURITY DESCRIPTION DATE VALUE (BASE) VALUE (BASE) % ALIBABA GROUP HOLDING LTD ADR 1,972,532.44 4.25% BAIDU, INC. ADR 501,186.20 1.08% CEMEX DA - ADR 425,787.60 0.92% BANCO DE CREDITO E INVERSIONES 42.24 0.00% BANCO DE CHILE 222,461.14 0.48% CONTROLADORA VUELA CIA-ADR 252,035.20 0.54% VALE SA 519,202.93 1.12% GRUPO FINANCIERO BANORTE SAB DE CV 53,844.63 0.12% ALSEA SAB DE CV 191,300.90 0.41% PETROBRAS DISTRIBUIDORA SA 280,040.22 0.60% HDFC BANK, LTD. ADR 295,770.40 0.64% INFOSYS TECHNOLOGIES ADR 917,463.43 1.98% JD.COM INC 462,259.52 1.00% MYTILINEOS HOLDINGS SA 231,598.89 0.50% ASM PACIFIC TECHNOLOGY LIMITED 289,896.61 0.63% WALSIN TECHNOLOGY CORP 358,898.56 0.77% HINDUSTAN PETROLEUM CORP LTD 420,901.59 0.91% LIC HOUSING FINANCE LTD 347,677.95 0.75% TATA STEEL LTD 279,822.18 0.60% NMDC LTD 371,024.87 0.80% DB INSURANCE CO LTD 248,435.54 0.54% CJ CORP 218,169.43 0.47% CHINA AIRLINES LTD 237,394.11 0.51% NANYA TECHNOLOGY CORP 437,286.77 0.94% LG UPLUS CORP 400,318.87 0.86% INBODY CO LTD 147,250.34 0.32% EVERGREEN MARINE CORP TAIWAN LTD 550,999.17 1.19% FORMOSA PLASTICS CORP 266,092.71 0.57% FOSCHINI GROUP LTD/THE 78,224.61 0.17% SIAM COMMERCIAL BANK P-NVDR 302,348.74 0.65% MEDIATEK INC 586,318.72 1.26% SAMSUNG SECURITIES CO LTD 272,600.80 0.59% DR.
  • Mirae Asset Global Discovery Fund Société D’Investissement À Capital Variable

    Mirae Asset Global Discovery Fund Société D’Investissement À Capital Variable

    Mirae Asset Global Discovery Fund Société d’Investissement à Capital Variable Annual Report and Audited Financial Statements for the Year Ended 31 March 2021 R.C.S Luxembourg B138.578 No subscription may be accepted on the basis of this report. Subscriptions are accepted only on the basis of the current prospectus and key investor information documents accompanied by the latest annual report and the latest semi-annual report if available. Mirae Asset Global Discovery Fund Société d’Investissement à Capital Variable Annual Report and Audited Financial Statements for the year ended 31 March 2021 Table of Content General Information ...........................................................................................................................3 Principal Investment Manager’s Report ............................................................................................... 5 Independent Auditor’s Report .............................................................................................................. 7 Financial Statements ......................................................................................................................... 10 Statement of Net Assets Statement of Operations and Changes in Net Assets Statistical Information Notes to the Financial Statements ................................................................................................... 31 Schedule of Investments ..................................................................................................................
  • Interim Consolidated Financial Statements of Samsung Electronics Co., Ltd. and Its Subsidiaries Index to Financial Statements

    Interim Consolidated Financial Statements of Samsung Electronics Co., Ltd. and Its Subsidiaries Index to Financial Statements

    INTERIM CONSOLIDATED FINANCIAL STATEMENTS OF SAMSUNG ELECTRONICS CO., LTD. AND ITS SUBSIDIARIES INDEX TO FINANCIAL STATEMENTS Page Report on Review of Interim Financial Statements.................................................. 1 - 2 Interim Consolidated Financial Statements Interim Consolidated Statements of Financial Position................................................. 3 - 5 Interim Consolidated Statements of Profit or Loss........................................................ 6 Interim Consolidated Statements of Comprehensive Income........................................ 7 Interim Consolidated Statements of Changes in Equity................................................. 8 - 11 Interim Consolidated Statements of Cash Flows............................................................ 12 - 13 Notes to the Interim Consolidated Financial Statements................................................ 14 - 59 Report on Review of Interim Financial Statements (English Translation of a Report Originally Issued in Korean) To the Shareholders and Board of Directors of Samsung Electronics Co., Ltd. Reviewed Financial Statements We have reviewed the accompanying interim consolidated financial statements of Samsung Electronics Co., Ltd. and its subsidiaries (collectively referred to as the “Company”). These interim consolidated financial statements consist of the interim consolidated statements of financial position of the Company as of June 30, 2019, and the related interim consolidated statements of profit or loss and comprehensive income
  • Korea Morning Focus

    Korea Morning Focus

    November 21, 2019 Korea Morning Focus Major Indices Close Chg Chg (%) No English report Summaries this morning. KOSPI 2,125.32 -27.92 -1.30 KOSPI 200 282.21 -4.02 -1.40 KOSDAQ 649.87 -12.66 -1.91 Turnover ('000 shares, Wbn) Volume Value KOSPI 573,689 5,583 KOSPI 200 71,997 3,237 KOSDAQ 1,274,282 5,929 Market Cap (Wbn) Value KOSPI 1,427,360 KOSDAQ 230,847 KOSPI Turnover (Wbn) Buy Sell Net Foreign 1,424 1,758 -334 Institutional 1,066 1,165 -98 Retail 3,001 2,640 361 KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 532 552 -20 Institutional 168 250 -82 Retail 5,203 5,096 107 Program Buy / Sell (Wbn) Buy Sell Net KOSPI 1,336 1,498 -162 KOSDAQ 494 529 -35 Advances & Declines Advances Declines Unchanged KOSPI 134 717 54 KOSDAQ 212 1,057 58 KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Samsung Electronics 52,000 -1,500 620 Hynix 82,700 -2,600 277 AirBusan 6,920 50 240 Asiana IDT 25,700 3,400 223 KODEX 200 Futures 6,840 165 200 Inverse 2X KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Kukil Paper 6,980 -1,230 387 OSUNG Advanced 3,180 370 295 Materials Lumi MIcro 3,300 585 291 Cellivery 63,800 6,600 248 HLB 136,500 200 180 Note: As of November 20, 2019 This document is a summary of a report prepared by Mirae Asset Daewoo Co., Ltd.
  • 2019 Esg Incident Report

    2019 Esg Incident Report

    T O DAY I S T O M O R R O W 2019ESGINCIDENTREPORT ThisreportisbasedonWho’sGoodESGIncidentAnalysis,poweredbyArtificialIntelligence(AI) algorithmsandnewsdatabasedon90+localandnationalnewsmediaprovidersinKorea. ESGIncidentAnalysis:www.esgincident.com www.whosgood.org Contact:[email protected] Copyright©2020Who'sGood T O D A Y ’ S N E W S , T O M O R R O W ’ S I M P A C T E S G I N C I D E N T A N A L Y S I S . ThisreportisbasedonWho’sGoodESGIncidentAnalysis,poweredbyArtificialIntelligence(AI)algorithmsandnewsdatabasedon 90+localandnationalnewsmediaprovidersinKorea.ThisreportprovidesanoverviewofthecorporateESGincidentsin2019, analyzedbyindustrygroups,ESGissuesandcompanygroups. Asia’sFirstAI-Driven ESGInsightProvider AboutWho’sGood,PBC Usingpublicdata,Who’sGoodprovidesobjective andup-to-datecorporateESGinsights.Ourproductsinclude ESGPerformanceAnalysis,whichevaluatesnon-financial(ESG)management performancebasedonpublicdata;ESGIncidentAnalysis,which analyzescompanies'ESGrisksutilizingnewsdata; andSCB(SustainabilityCreditBureau),whichisasustainability creditratingservice,selectedas‘InnovativeFinancialServices’ bytheFinancialServicesCommissionofKorea. Copyright©2020Who'sGood Contents Ⅰ.Preface Ⅳ.Ris#k#iestCompanieswithinSector ## 1.Hardware&Semiconductors Ⅱ.Methodology -Sam#su#ngElectronicsCo.,Ltd. 2.ConsumerDiscretionaryService Ⅲ.Summaryof2019ESGincidents ## -YGEntertainment,Inc. 1.2019AnalysisOverview 3.ConsumerDiscretionaryManufacture 2.ESGIncidentTrends -HyundaiMotorCo.,Ltd. 3.IssueAnalysis 4.Energy 4.BusinessGroupAnalysis -SKInnovationCo.,Ltd.
  • Samsung Electronics Co., Ltd. and Its Subsidiaries NOTES to THE

    Samsung Electronics Co., Ltd. and Its Subsidiaries NOTES to THE

    Samsung Electronics Co., Ltd. and its subsidiaries NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS 1. General Information 1.1 Company Overview Samsung Electronics Co., Ltd. (“SEC”) was incorporated under the laws of the Republic of Korea in 1969 and listed its shares on the Korea Stock Exchange in 1975. SEC and its subsidiaries (collectively referred to as the “Company”) operate four business divisions: Consumer Electronics (“CE”), Information technology & Mobile communications (“IM”), Device Solutions (“DS”) and Harman. CE division includes digital TVs, monitors, air conditioners and refrigerators and IM division includes mobile phones, communication systems, and computers. DS division includes semiconductor products such as memory, foundry, and system LSI (“Semiconductor”), and display products such as TFT-LCD and OLED panels (“DP”). Harman division includes connected car systems, audio and visual products, enterprise automation solutions and connected services. The Company is domiciled in the Republic of Korea and is located in Suwon, the Republic of Korea. These interim consolidated financial statements have been prepared in accordance with Korean International Financial Reporting Standards (“Korean IFRS”) 1110, Consolidated Financial Statements. SEC, as the controlling Company, consolidates its 244 subsidiaries, including Samsung Display and Samsung Electronics America. The Company also applies the equity method of accounting for its 41 associates and joint ventures, including Samsung Electro-Mechanics Co., Ltd. 1.2 Consolidated Subsidiaries (A) The consolidated subsidiaries as of June 30, 2020 are as follows: Percentage of Area Subsidiaries Industry ownership1 Samsung Electronics America, Inc. (SEA) Sale of electronic devices 100.0 NeuroLogica Corp. Manufacture and sale of medical equipment 100.0 Dacor Holdings, Inc.
  • Morning Focus

    Morning Focus

    July 19, 2018 Korea Morning Focus Sector News & Analysis Major Indices Close Chg Chg (%) Chemicals/Solar PV/Oil Refining (Overweight) KOSPI 2,290.11 -7.81 -0.34 Poised for a near-term pickup KOSPI 200 296.47 -0.41 -0.14 KOSDAQ 810.44 -9.28 -1.13 Turnover ('000 shares, Wbn) Volume Value KOSPI 395,774 4,838 KOSPI 200 76,480 3,414 KOSDAQ 806,892 4,246 Market Cap (Wbn) Value KOSPI 1,531,112 KOSDAQ 267,922 KOSPI Turnover (Wbn) Buy Sell Net Foreign 1,366 1,273 93 Institutional 826 1,090 -264 Retail 2,637 2,474 163 KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 398 413 -15 Institutional 233 238 -5 Retail 3,614 3,571 44 Program Buy / Sell (Wbn) Buy Sell Net KOSPI 1,064 991 73 KOSDAQ 200 158 42 Advances & Declines Advances Declines Unchanged KOSPI 187 649 56 KOSDAQ 305 869 63 KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Samsung Electronics 46,550 700 508 Hynix 89,300 700 171 KODEX KOSDAQ150 17,040 -365 147 LEVERAGE KOREA AEROSPACE 34,450 -3,550 145 KODEX LEVERAGE 14,520 -75 143 KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Woori Technology 4,320 325 228 New Pride 4,095 945 219 OliX 65,600 -6,400 184 HLB 77,000 -4,500 127 JeilSteel 3,900 -260 114 Note: As of July 18, 2018 Mirae Asset Daewoo Research This document is a summary of a report prepared by Mirae Asset Daewoo Co., Ltd.
  • Stoxx® South Korea 200 Index

    Stoxx® South Korea 200 Index

    STOXX® SOUTH KOREA 200 INDEX Components1 Company Supersector Country Weight (%) Samsung Electronics Co Ltd Technology South Korea 28.94 SK HYNIX INC Technology South Korea 4.68 NAVER CORP Technology South Korea 4.12 KAKAO CORP Technology South Korea 3.20 LG Chem Ltd Chemicals South Korea 2.70 Samsung SDI Co Ltd Technology South Korea 2.61 Hyundai Motor Co Automobiles & Parts South Korea 2.57 Celltrion Health Care South Korea 2.08 POSCO Basic Resources South Korea 2.07 KB Financial Group Inc Banks South Korea 1.66 KIA CORPORATION Automobiles & Parts South Korea 1.66 Shinhan Financial Group Co Ltd Banks South Korea 1.41 Hyundai Mobis Automobiles & Parts South Korea 1.34 LG H&H Personal Care, Drug & Grocery Stores South Korea 1.22 LG Electronics Inc Consumer Products & Services South Korea 1.19 SK TELECOM Telecommunications South Korea 1.17 SAMSUNG C&T CORP Construction & Materials South Korea 1.12 SK INNOVATION Energy South Korea 1.00 NCsoft Consumer Products & Services South Korea 0.99 SAMSUNG BIOLOGICS Health Care South Korea 0.97 Hana Financial G Banks South Korea 0.95 LG Corp Industrial Goods & Services South Korea 0.87 KT&G Corp Food, Beverage & Tobacco South Korea 0.82 HMM Industrial Goods & Services South Korea 0.80 Samsung Electro-Mechanics Co L Technology South Korea 0.71 KOREAN AIR LINES Travel & Leisure South Korea 0.68 SK Technology South Korea 0.68 CELLTRION HEALTHCARE Health Care South Korea 0.66 Amorepacific Consumer Products & Services South Korea 0.60 Samsung Fire & Marine Insuranc Insurance South Korea 0.59 Korea Electric