The Korea Herald

[EQUITIES] Hyundai Securities forecasts record-breaking Q2 earnings for Hansol Chemical

Jul 14, 2016

[THE INVESTOR] Hyundai Securities has forecast that Hansol Chemical will post record-high earnings in the second quarter of this year.Operating profit was projected to rise 56 percent on-year to 21.4 billion won (US$ 18.66 million), while sales will rise 15 percent to 1.05 billion won. Consequently, the quarterly operating profit rate was estimated to reach 20.1 percent, which was more than double the 9.4 percent average rate over the past five years, according to the brokerage. The biggest driv
[EQUITIES] LIG Investment & Securities forecasts lower earnings for Hyundai Motor

Jul 14, 2016

[THE INVESTOR] LIG Investment & Securities on July 14 said Hyundai Motor’s second-quarter earnings would fall below market estimates. Operating profit for the world’s fifth-largest automaker declined 3.3 percent to 1.7 trillion won (US$ 1.48 billion), while sales rose 5.2 percent to 23.9 trillion won. Hyundai Motor’s global sales rose 4.3 percent in the second quarter, while domestic sales increased 4.9 percent.But the automaker is suffering from falling exports, mainly on the back of declining
[EQUITIES] Hotel Shilla’s operating profit to reach W21.2b in Q2

Jul 14, 2016

[THE INVESTOR] Mirae Asset Daewoo Securities forecast Hotel Shilla will post a 28.2 percent on-year increase in operating profit in the second quarter, and a 13.1 percent climb in sales. On a consolidated basis, the brokerage said operating profit would reach 21.1 billion won (US$18.4 million), while sales stand at 955.4 billion won.Mirae Asset Daewoo said that the Samsung affiliate was likely to continue growing this year despite higher commission expenses and an operating loss from Shilla’s du
SFC fines Yuanta Securities W2b

Jul 14, 2016

[THE INVESTOR] Yuanta Securities Korea has been slapped with a fine of 2 billion won (US$ 1.76 million) for omitting transactions with affiliated entities in its regulatory filings, the securities regulator said July 14.The Securities and Futures Commission noted that the company will also be audited by an external auditor designated by the state for two years. The company omitted real estate transactions with an affiliated person, and monetary transactions between a subsidiary and an affiliated
Seoul shares keep upward trend on foreign buying

Jul 14, 2016

South Korean shares extended a winning streak into a fourth day on Thursday, paring early losses, as foreigners stuck to a buying mode. The South Korean won rose sharply against the U.S. dollar after the nation's central bank froze the key interest rate at the record low of 1.25 percent.The benchmark Korea Composite Stock Price Index added 3.22 points, or 0.16 percent, to 2,008.77.Trade volume recorded 334.3 million shares worth 4.2 trillion won ($3.7 billion), with decliners outnumbering advanc
Hyundai Heavy seeking to sell brokerage unit

Jul 14, 2016

Hyundai Heavy Industries Co., a troubled shipyard, is seeking to sell its brokerage unit as part of its restructuring drive, but its bid may fall through due to lack of potential investors, industry sources said Thursday.According to the sources, Hyundai Heavy plans to sell an 85.3 percent stake in HI Investment & Securities Co. which is held by its affiliate, Hyundai Mipo Dockyard Co., a deal estimated at around 500 billion won ($439 million).Hyundai Heavy plans to complete the sale of the brok
[EQUITIES] Hana Investment forecasts AmorePacific’s Q2 earnings to rise

Jul 14, 2016

[THE INVESTOR] Hana Financial Investment forecast cosmetics maker AmorePacific’s second quarter sales and operating profit to rise 19.5 percent and 23.6 percent on-year, to 1.42 trillion won (US$ 1.23 billion) and 257 billion won, respectively. In the latter half of the year, Hana expects operating profit to climb 50 percent or more from the same period in 2015. However, the brokerage report added that there was a possibility of some uncertainties arising from China in the aftermath of the THAAD
Government seeks to spend W6tr for economic recovery

Jul 14, 2016

Finance Ministry, ruling party to finalize extra budget next week
[EQUITIES] NHN Entertainment’s profits to dip in H2

Jul 14, 2016

[THE INVESTOR] Korean online game and service provider NHN Entertainment is expected to see its profits slowing in the latter half of this year due to increased marketing costs for new services. Korea Investment & Securities predicted on July 14 that the company would post 215.8 billion won (US$189.51 million) in sales and 12 billion won in operating profit in the second quarter. “The company’s key games are generating stable profits,” said Kim Sung-eun, an analyst of the local bourse. “In the s
[EQUITIES] Hanwha Techwin to return to profitability in Q2

Jul 14, 2016

[THE INVESTOR] Hanwha Techwin, the defense unit of Hanwha Group, is expected to swing back to profitability in the second quarter, Korea Investment & Securities said in a report on July 14. The securities firm predicted the company’s second-quarter profit at 32.7 billion won (US$28.70 million) returning to profitability after it posted 79.2 billion won in operating loss in the second quarter. “Due to the company’s efforts to cut costs and personnel reshuffle, it is expected to post an operating
Senior prosecutor summoned over suspicious stock dealings

Jul 14, 2016

Prosecutors on Thursday summoned a senior prosecutor who has come under public scrutiny over suspicious stock transactions.Jin Kyung-joon appeared before the Seoul Central District Prosecutors' Office in southern Seoul to face questioning over the wealth he amassed through shares of Nexon Co., the country's leading online game maker."I admit to my wrongdoings and take it seriously," Jin told reporters before entering the prosecutors' office."I sincerely apologize for hiding the truth to cover my
Korean corporate bonds gain global investor interest

Jul 14, 2016

South Korea's corporate global bonds have become an investment attraction in overseas markets, helped by the country's sturdy credit ratings, finance industry officials said Thursday.Korea Gas Corp. earlier this week sold $900 million in five- and 10-year dollar-denominated bonds. Presale estimated demand was for $4 billion from 240 institutions. The yield for five-year notes settled at 1.920 percent and 10-year notes at 2.325 percent. The yield for the latter was the lowest for a South Korean c
Seoul stocks open lower on profit-taking

Jul 14, 2016

South Korean shares opened slightly lower Thursday, bucking the trend on Wall Street, as investors sought to lock in recent gains.The benchmark Korea Composite Stock Price Index fell 1.34 points, or 0.07 percent, to 2,004.21 in the first 15 minutes of trading.Keen attention is being paid to whether the KOSPI will be able to maintain momentum after reaching a monthly high a day earlier.Traders are waiting for a statement on the results of the Bank of Korea's monthly monetary policy meeting later
Cross border investment between Korea, China jumps on FTA

Jul 13, 2016

Cross-border investment between South Korea and China is on a steep rise, data showed Wednesday, apparently boosted by the countries' bilateral free trade pact.In the first five months of the year, new South Korean investment that arrived in China came to US$2.2 billion, up 12.2 percent from the same period last year, according to the data from the Korea International Trade Association.The amount surpassed Japan's $1.47 billion investment arriving in China over the cited period. South Korean inv
Seoul stocks hit 1-month high on foreign buying

Jul 13, 2016

[THE INVESTOR] South Korean share prices ended higher on the third straight day July 13 to hit a one-month high. The upward momentum was driven mainly by foreign buying, according to analysts. The South Korean won rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index advanced 14.32 points, or 0.72 percent, to 2,005.55.It marks the first time in about three weeks that the KOSPI recovered the 2,000-point level.Trade volume came to 353.3 million shares worth 4.6 trillion won