DB Securities Raises GS Target Price Amid Abu Dhabi Oil Field Expectations DB Securities announced on May 14 that it has raised the target price for GS to 95,000 won, reflecting improved performance expectations for the Abu Dhabi oil field due to increased drilling investments in the United Arab Emirates (UAE). The firm maintained its investment rating of 'buy.' Han Seung-jae, a researcher at DB Securities, stated in a report that GS's market capitalization is still only 43% of Caltex's projected net assets of 15.5 trillion won for this year. He noted, "While the inventory gains from the war are temporary, the lack of refining capacity is expected to persist in the long term, which indicates an increase in refining margins." Han also highlighted that GS's operating profit for the first quarter of this year reached 1.26 trillion won, a 57% increase compared to the same period last year, surpassing market expectations. He attributed this strong performance to Caltex's operating profit of 1.6 trillion won. He added that although refining margins have slowed down after a surge in March and April, they remain exceptionally strong. Considering the demand slowdown due to high oil prices and the operational disruptions in the Middle East (2-3 million barrels per day), the supply of refined products is expected to remain extremely tight. Looking ahead, he projected that Caltex's operating profit for the second quarter would be 1.1 trillion won, continuing the positive trend. He also noted that due to rising oil prices and the UAE's exit from OPEC, production and net profits from the Abu Dhabi oil field are expected to increase, necessitating a reflection of this value in the market.* This article has been translated by AI. 2026-05-14 08:54:48

Baek Ji-young Sheds Tears While Singing at Shin Ji's Wedding Baek Ji-young became emotional while performing a wedding song at the wedding of Shin Ji from the group Koyote. A video titled "The Day Lee Ji-sun, Not Shin Ji, Got Married" was posted on the YouTube channel 'Eotteohsinji' on May 13. Before singing, Baek Ji-young shared, "Since my debut, I have had a very special relationship with Ji-sun. Looking back at that time and seeing Ji-sun with her husband now feels like a big sister moment for me." She continued, "We have gone through many difficult times. I have been married for 13 years, and I still remember the lyrics of the song I heard at my wedding. I hope everyone can listen and sing along to celebrate the couple." However, as she began the first verse, Baek Ji-young was overcome with tears. After wiping her eyes, she said, "I will try again. In the past, Ji-sun and I wondered if we would ever get married. But I believe she will be a wise and loving wife and mother more than anyone else," before continuing her performance. Moon Won, who debuted in 2012 with "Live with Me," met Shin Ji as a guest on her radio show, "Single Bungle Show." The two reportedly developed a serious relationship after dating. Shin Ji debuted in 1998 with Koyote and has released numerous hits, including "Pure Love," "Heartbreak," "Blue," and "Disco King." 2026-05-14 08:50:34

Samsung Electronics Signs EU CoC for Energy-Efficient Appliances Samsung Electronics announced on May 14 that it has become the first domestic company to sign the European Union's Smart Appliances Energy Charter (CoC). The EU CoC is a voluntary agreement program led by the Joint Research Centre (JRC) of the European Commission. It aims to promote the development and distribution of energy-efficient smart appliances by manufacturers. While existing energy regulations have focused on reducing overall power consumption, the EU CoC encourages the use of appliances during efficient time slots based on power supply conditions. This approach aims to distribute electricity usage more evenly and respond flexibly to energy demand. Although the EU CoC is a voluntary agreement, global appliance and energy companies are actively creating an ecosystem to enhance their influence in the European market. By signing this agreement, Samsung Electronics has laid the groundwork for expanding energy cooperation with power companies across Europe. The company plans to partner with major European energy firms, including British Gas and Coolblue in the Netherlands, to provide benefits for reducing electricity costs while enhancing energy collaboration. Samsung's integrated washer-dryer and dishwasher meet the EU CoC standards and have been registered as 'Energy Smart Appliances' in the EU Energy Label Registration System (EPREL). These devices feature a 'customized scheduling' function that suggests usage during off-peak hours when the load on the power grid is lower. Some European countries are already implementing policies that offer subsidies or tax benefits for high-efficiency, energy-saving smart appliances registered with EPREL. Looking ahead, Samsung plans to expand its EPREL 'Energy Smart Appliances' lineup to include EHS heat pumps and air conditioners. Yang Hye-soon, Vice President of Samsung Electronics' DA Division, stated, "This signing demonstrates Samsung's competitive edge in high-efficiency technology and our efforts to expand the energy-saving ecosystem. Based on this, we will further enhance energy cooperation with various power companies in Europe."* This article has been translated by AI. 2026-05-14 08:44:01

Shinhan Securities Raises SK Innovation Target Price by 31% Amid Recovery Expectations Shinhan Investment Corp. announced on May 14 that it has raised its target price for SK Innovation from 130,000 won to 170,000 won, an increase of 30.8%, citing strong refinery market conditions and a recovery in the battery business. The firm maintained its "buy" rating on the stock. Lee Jin-myung, an analyst at Shinhan Investment, stated, "Despite concerns over global demand slowing, the current impact of supply disruptions is more significant, suggesting that tight supply and demand conditions will persist for the time being." He added that the battery business is expected to recover, driven by robust electric vehicle (EV) sales in Europe and growing order expectations in the North American energy storage system (ESS) sector. According to Shinhan Investment, SK Innovation's operating profit for the first quarter of this year reached 2.2 trillion won, a 190% increase from the previous quarter, aligning with market consensus of 2 trillion won. The refinery segment is estimated to have recorded an operating profit of 1.7 trillion won, benefiting from significant inventory valuation gains due to rising international oil prices and strong refining margins. The chemical segment also turned profitable, posting an operating profit of 332.6 billion won, aided by inventory valuation gains from soaring raw material prices. In the battery business, revenue increased by 23% from the previous quarter to 1.8 trillion won, driven by higher shipments from European factories. Despite a reduction in production tax credits (AMPC), the company managed to narrow its losses thanks to sales recovery in certain regions and efforts to improve profitability. Lee noted that while international oil prices and refining margins, which surged due to the blockade of the Strait of Hormuz, may face downward risks, supply disruptions are currently a more significant variable, suggesting that refining margins are likely to remain strong. He further stated, "The battery sector is securing a growth foundation for ESS through line transitions in the U.S. and is expected to see a seasonal pattern of stronger sales in the second half of the year, recovering market share in Europe. Despite various concerns surrounding the industry, the positive factors outweigh the negatives."* This article has been translated by AI. 2026-05-14 08:40:45

Hanwha Investment Upgrades Samyang Foods Target Price Amid Growth Expectations Hanwha Investment & Securities announced on May 14 that it has raised its target price for Samyang Foods from 1.9 million won to 2 million won, citing continued global demand for its spicy chicken brand and anticipated growth from expanded production capacity. The firm maintained its "buy" rating on the stock. Han Yu-jung, an analyst at Hanwha Investment & Securities, noted that the company’s consolidated operating profit for the first quarter rose 32.2% year-on-year to 177.1 billion won, exceeding market expectations. She stated that all of its subsidiaries in the U.S., China, and Europe recorded significant growth, contributing to the highest quarterly performance to date. She added that the U.S. subsidiary achieved record quarterly sales, while the Chinese operation demonstrated stronger-than-expected growth due to rapid inventory turnover. Europe also returned to a high-growth trajectory, benefiting from the establishment of its UK subsidiary and improved client management. Han emphasized that despite the challenges of maintaining high margins in the food and beverage sector, the company has sustained an operating profit margin exceeding 20%, indicating robust global demand for the spicy chicken brand. She further projected that with the expansion of operations at the Miryang Plant 2 and ongoing improvements in production efficiency, the company is likely to continue breaking sales records each quarter. The new factory in China, scheduled for completion in January 2027, is progressing smoothly, and there remains a strong potential for further expansion to alleviate supply bottlenecks.* This article has been translated by AI. 2026-05-14 08:39:58

Senate Confirms Kevin Warsh as Fed Chair; First Test is Interest Rate Cut The U.S. Senate has confirmed Kevin Warsh as the new chair of the Federal Reserve. On May 13, local time, the Senate approved Warsh's nomination with a vote of 54 in favor and 45 against. All Republican senators supported the nomination, while only Senator Jon Tester from the Democratic Party voted in favor. Warsh is set to succeed Jerome Powell, whose term ends on May 15. The term for the Fed chair is four years. Warsh's first major challenge will be the Federal Open Market Committee (FOMC) meeting scheduled for June 16-17. Market observers are keen to see if he will signal a potential interest rate cut during his inaugural meeting. President Donald Trump has publicly criticized Powell and pressured for interest rate cuts, which has shaped expectations around Warsh's nomination. However, recent inflation data has weakened the case for an early rate cut. The Consumer Price Index (CPI) for April rose by 3.8% compared to the same month last year, while the Producer Price Index (PPI) increased by 6.0% year-over-year. Rising energy prices due to the conflict between the U.S. and Iran are also contributing to inflationary pressures. If rising oil prices simultaneously affect consumer and producer prices, it could complicate the Fed's policy decisions. Warsh has recently argued for the possibility of interest rate cuts based on improvements in productivity due to artificial intelligence, a reduction in long-term bond holdings, and alternative price indices. However, this rationale will need to undergo internal scrutiny and persuasion within the Fed. Market participants are closely watching how Warsh will navigate the demands for rate cuts from the White House against the backdrop of inflationary pressures. The first FOMC meeting will likely provide insights into the new chair's policy direction and the Fed's independence.* This article has been translated by AI. 2026-05-14 08:36:15

Hyundai Launches 'The New Grandeur' as a Milestone in SDV Transition Hyundai Motor Company has positioned its flagship sedan, 'The New Grandeur,' as a pivotal step in its transition to Software-Defined Vehicles (SDV). This model features the company's first self-developed next-generation infotainment platform. With the addition of innovative technologies such as a next-generation hybrid system and electric air vents, Hyundai aims to lead the premium sedan market. On May 13, Hyundai unveiled the internal combustion and hybrid versions of 'The New Grandeur' during a media day at the Grand Walkerhill Seoul in Gwangjin-gu, Seoul. Since its launch in 1986, the Grandeur has been a flagship model for Hyundai, often referred to as the 'people's sedan.' The model presented is a facelift of the seventh generation, which debuted in November 2022. A key feature of 'The New Grandeur' is the next-generation infotainment platform, 'Pleos Connect.' This is the first time Pleos Connect has been integrated into an actual vehicle, following its announcement by the Hyundai Motor Group last month. The group plans to implement Pleos Connect in approximately 20 million vehicles by 2030. Yoon Hyo-jun, head of Hyundai's domestic business division, stated, "The automotive market is expanding beyond hardware to software, and electrification and digital transformation are redefining the overall customer experience. 'The New Grandeur' marks an important starting point for Hyundai's SDV transition." He emphasized that the Grandeur will provide a new experience that seamlessly connects with customers, going beyond a mere mode of transportation. Specifically, 'The New Grandeur' enhances infotainment services through Pleos Connect. The 17-inch central display allows users to control navigation, media, and vehicle settings from a single screen, enabling simultaneous access to multiple information sources while driving. Notably, the vehicle offers a customized driving experience powered by the generative AI agent 'Gleo AI.' Park Young-woo, head of Hyundai's infotainment development division, explained, "While traditional voice recognition handled fixed commands, Gleo AI understands user intent and considers driving conditions and vehicle status to perform necessary tasks." For instance, if an owner asks, 'Is there parking available where I'm going?' Gleo AI will respond based on the current route and situation, providing navigation assistance. If the owner comments, 'The seat temperature is hot,' Gleo AI can identify the seat position and differentiate between the driver and passengers to automatically adjust the heated seats. Additionally, 'The New Grandeur' incorporates numerous innovative technologies. It is the first Hyundai vehicle to feature electric air vents, which work in conjunction with Pleos Connect to offer four different airflow control modes. The 'Smart Vision Roof' is also introduced for the first time, allowing users to adjust the roof's transparency in six stages. The hybrid (HEV) model is equipped with a next-generation hybrid system, making it the first sedan to do so. The system combines a drive motor responsible for propulsion and regenerative braking with a starter motor that assists with starting, generating power, and providing driving support, improving overall output and fuel efficiency. However, 'The New Grandeur' is not yet a fully realized SDV. As the vehicle control domain is still in the process of being integrated and advanced through software, Hyundai is expected to accelerate its SDV transition starting with 'The New Grandeur.' * This article has been translated by AI. 2026-05-14 08:34:14

Kyobo Securities Upgrades NCSoft's Target Price Amid Strong Game Performance Kyobo Securities maintained its "buy" rating on NCSoft on May 14 and raised its target price from 340,000 won to 375,000 won. Analyst Kim Dong-woo noted that NCSoft's first-quarter revenue reached 557.4 billion won, with an operating profit of 113.3 billion won, exceeding market expectations. He attributed this success to the strong performance of Aion 2 and Lineage Classic. Aion 2 generated 136.8 billion won in revenue, reflecting some carryover from the previous quarter and robust traffic. Lineage Classic, which launched in February, recorded 108.8 billion won in operating revenue, although some sales were deferred to the second quarter, resulting in an accounting revenue of 83.5 billion won. In the mobile MMORPG sector, Lineage M saw a 7.9% increase in revenue compared to the previous quarter, maintaining a solid trend. However, declines in revenue from Lineage W and Lineage 2M led to total mobile MMO revenue of 182.8 billion won. The casual gaming segment, boosted by contributions from Springcoms and Lihuhu, totaled 35.5 billion won. Kim stated, "NC has successfully continued the success of Aion 2 and Lineage Classic within the MMORPG genre, which retains its originality. The global version of Aion 2 is also scheduled for release in the third quarter." He added that NC is diversifying its portfolio through the acquisition of Lihuhu, Springcoms, and JustPlay, moving away from a structure that previously saw significant volatility based on a few major new releases. Notably, JustPlay has established differentiated competitiveness in casual ad tech, leveraging first-party data for user acquisition marketing. Kyobo Securities projects NCSoft's revenue for the year to reach 2.48 trillion won, with an operating profit of 494.8 billion won. The increase in the target price reflects upward revisions in revenue estimates for Lineage Classic and Aion 2, as well as a decrease in payment commission rates, leading to an 11.8% increase in the estimated net profit for the year.* This article has been translated by AI. 2026-05-14 08:30:50

Meritz Securities Maintains 'Buy' Rating on Korea Electric Power Despite Lowered Consensus Meritz Securities reported on May 14 that while the lowered annual performance consensus for Korea Electric Power Corporation (KEPCO) is putting pressure on its stock price, focusing solely on short-term results could overlook structural improvements. The firm maintained its target price at 65,000 won and its investment opinion at 'Buy.' Analyst Moon Kyung-won noted that KEPCO's operating profit for the first quarter reached 3.78 trillion won, falling short of the consensus estimate of 4.24 trillion won. He attributed this shortfall primarily to a nuclear power utilization rate of 71.0%. He added that while the coal utilization rate was 52.4%, it was insufficient to compensate for the decline. Moon highlighted that the PRS (price-to-earnings swap) costs were lower than expected, predicting that the increase in PRS costs would diminish in the second half of the year. However, he expressed optimism about valuation increases due to the nuclear power business and the consolidation of power generation subsidiaries. He explained that the nuclear power business is progressing in phases, with external service results expected to be released in May or June. Following this, a governance integration focused on nuclear power exports led by KEPCO is anticipated. Moon expects that this will lead to concrete plans for nuclear investments in the U.S. in the second half of the year, and he noted that the selection of a contractor for the Ninh Thuan 2 nuclear project in Vietnam is expected by the end of the year. Additionally, he stated that the consolidation of power generation subsidiaries could enhance the company's value. If the government proceeds with the proposed 'Korea Power Generation Corporation Act' to purchase shares from KEPCO's five power generation companies, this process could lead to a reevaluation of the subsidiary's equity value. He also mentioned that the elimination of inefficiencies among power generation subsidiaries, acceleration of energy transition, and strengthening of KEPCO's independence are expected to contribute to valuation increases.* This article has been translated by AI. 2026-05-14 08:27:48

Bitcoin Falls Below $80,000 Amid U.S. Inflation Shock Bitcoin has dropped below $80,000 due to a shock in U.S. inflation data and a surge in international oil prices.As of 8 a.m. on May 14, Bitcoin was trading at $79,395, down 1.53% from the previous day, according to the global cryptocurrency market site CoinMarketCap.The decline in price is attributed to concerns over inflation. The U.S. Bureau of Labor Statistics reported on May 12 that the Consumer Price Index (CPI) for April rose 3.8% compared to the same month last year, with a month-over-month increase of 0.6% on a seasonally adjusted basis.While the monthly increase matched market expectations, the annual rate was 0.1 percentage points higher than Dow Jones forecasts. This annual CPI increase is the highest recorded since May 2023. The higher-than-expected inflation figures have diminished expectations for interest rate cuts by the Federal Reserve, which likely contributed to Bitcoin's slight decline.Other major altcoins also showed declines. Ethereum, the second-largest cryptocurrency by market capitalization, fell 0.94% to $2,259, while XRP, ranked third, dropped 1.21% to $1.42. Solana saw a decrease of 3.77%, trading at $91.Meanwhile, at the same time on the domestic exchange Bithumb, Bitcoin was trading at 118.01 million won (approximately $79,206), down 0.34% from the previous day. The so-called 'Kimchi Premium,' which indicates the difference between domestic and international prices, was recorded at -0.16%.* This article has been translated by AI. 2026-05-14 08:25:19