NongHyup Bank enters Indian market

[THE INVESTOR] NongHyup Bank’s overseas expansion has gained momentum with the launch of its representative office in India on June 29, a spokesperson of the agricultural bank said.The office is located in the nation’s capital, New Delhi. It marks the lender’s fourth overseas office, following New York, Beijing and Hanoi. NongHyup has been eyeing the growing Indian market since 2011 when it sent an employee to India to study the market. The spokesperson revealed that the bank plans expand its bu

June 29, 2016

[ANALYST REPORT] Refining/Chemicals: Review of share valuations

Korean refineries and chemicals are trading sharply lower on unexpected events such as the Brexit issue and the resulting increase in global macroeconomic uncertainties. However, we believe risks of a possible down-adjustment of earnings consensus are fully priced in at current share valuations. Relative valuation attractiveness could dip on a global view, but further downsides in share prices remain limited with key factors determining earnings, such as the spreads and refining margins of major

June 29, 2016

Jeju Air’s earnings to improve from Q3

[THE INVESTOR] Jeju Air, Korea’s largest low-cost carrier, will see faster growth in earnings from the third quarter of the year, Korea Investment & Securities said. In the second quarter, Jeju Air is expected to post 162.4 billion won (US$138.7 million) in revenue, up 14.1 percent from a year earlier and 44.6 percent drop in operating income to log 5 billion won, said Yoon Hee-do, an analyst at Korea Investment & Securities said. The parliamentary election, which was held in April, slowed air t

June 29, 2016

Only 17% of KOSDAQ firms held IR events in 2015

[THE INVESTOR] More than 80 percent of companies listed on the tech-heavy KOSDAQ did not hold a single investor relations event last year, Korea Exchange said on June 29. According to Korea Exchange’s analysis, 948 of the 1,151 KOSDAQ companies did not hold any investor relations events in 2015. The figures are based on regulatory filings posted on the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System.Such neglect of communication with investors was displayed regardles

June 29, 2016