Strategy and Economics
4 Economics BoK Slowly Moving Closer to Rate
Hikes
Sharon Lam
Global / Asia Pacific
6 EM Fixed Income Strategy Global Strategy –
Higher Still
Rashique Rahman
Industry Analysis
8 Fin. Services Buy Recovery’s Building Blocks;
Attractive View
Joon Seok, Gil Woo Lee, Anil Agarwal
10 Semiconductors Global DRAM: Sustainable
Upturn Heading into 2010
Keon Han, Young Suk Shin, Frank A Y Wang, Jerry Su,
Kazuo Yoshikawa, Ryotaro Hayashi, Atif Malik, Michael
Chu
12 Auto Batteries HEV/EV Opens New Era for
Battery Makers
Harrison H Hwang, Young Suk Shin
Company Analysis
14 Hyundai Motor Co. New Models + Cost Control
Lead to Better Earnings
Sangkyoo Park, Hyunjae Lee
16 Hyundai Steel Better B/S & HRC Pricing:
Raising PT
Hyunjae Lee, Sangkyoo Park, Charles C Spencer
18 OCI Company Ltd Polysilicon – Impressive Cost
Cuts to Help Weather Further Price Declines
Sung Hee Lim, Sunil Gupta
20 Korea Zinc Shifting Toward Our Bull-Case Price
Assumptions
Sangkyoo Park, Hyunjae Lee, Charles C Spencer
22 Samsung Electro-Mechanics Carrying
Momentum into 2010; Remain OW
Young Suk Shin, Keon Han
24 Samsung Electronics DRAM Leverage Stronger
Keon Han, Young Suk Shin
26 Samsung Techwin Mid Q Update: Improving
Product Mix; Reiterate OW
Young Suk Shin, Keon Han
28 ↑ Shinsegae De-Rating Over, Valuation
Becoming Attractive; Upgrade to Overweight
Kelly H Kim, Jenna Mok, Angela Moh