Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>This insight provides an update on the inheritance tax payment requirement by the Samsung Electronics Chairman Lee Jae-Yong and his family members. </li>
<li>Lee Jae-Yong has a final installment of 480 billion won in inheritance taxes to be paid in April 2026.</li>
<li>Once Lee makes the final inheritance tax payment next year, he can start to  reinvest his dividend income in various Samsung Group affiliates including Samsung C&amp;T.</li>
</ul>


This insight provides an update on the inheritance tax payment requirement by the Samsung Electronics Chairman Lee Jae-Yong and his family members. 
Lee Jae-Yong has a final installment of 480 billion won in inheritance taxes to be paid in April 2026.
Once Lee makes the final inheritance tax payment next year, he can start to  reinvest his dividend income in various Samsung Group affiliates including Samsung C&amp;T.


An Update on Samsung Electronics Chairman Lee Jae-Yong and His Family Members' Inheritance Taxes

HD Korea Shipbuilding & Offshore Engineering / Event-Driven

HD Korea Shipbuilding & Offshore Engineering

<ul>
<li>There has been an increasing speculation of HD Hyundai increasing its stake in HD Korea Shipbuilding &amp; Offshore Engineering (HD KSOE) in 2025. </li>
<li>There are two main reasons why HD Hyundai could increase its stake in HD KSOE. </li>
<li>They include HD KSOE contributing higher percentage of dividend income and continued full-fledged recovery of the operating profits of the HD HHI and HD Hyundai Mipo. </li>
</ul>


There has been an increasing speculation of HD Hyundai increasing its stake in HD Korea Shipbuilding &amp; Offshore Engineering (HD KSOE) in 2025. 
There are two main reasons why HD Hyundai could increase its stake in HD KSOE. 
They include HD KSOE contributing higher percentage of dividend income and continued full-fledged recovery of the operating profits of the HD HHI and HD Hyundai Mipo. 


HD Hyundai: Will It Increase Ownership Stake In HD Korea Shipbuilding & Offshore Engineering?

<ul>
<li>On 22 May, Samsung Biologics (207940 KS) announced that that it plans to establish a new holding company called Samsung Bioepis Holdings through a spin-off.</li>
<li>Samsung Bioepis Holdings will fully incorporate Samsung Bioepis as a wholly owned subsidiary. Samsung Bioepis will focus on the biosimilars business. Samsung Biologics will focus on the CDMO business. </li>
<li>There is likely to be mixed reactions to Samsung Biologics' announcement to create a holding company structure to split the CDMO and biosimilar businesses.</li>
</ul>


On 22 May, Samsung Biologics (207940 KS) announced that that it plans to establish a new holding company called Samsung Bioepis Holdings through a spin-off.
Samsung Bioepis Holdings will fully incorporate Samsung Bioepis as a wholly owned subsidiary. Samsung Bioepis will focus on the biosimilars business. Samsung Biologics will focus on the CDMO business. 
There is likely to be mixed reactions to Samsung Biologics' announcement to create a holding company structure to split the CDMO and biosimilar businesses.


Samsung Biologics: Creation of a Holding Company to Split CDMO and Biosimilar Businesses

<ul>
<li>On 29 March, it was reported that Lee Seo-Hyun has been appointed as the President of Samsung C&amp;T (028260 KS), returning to the company after more than five years.</li>
<li>Lee Seo-Hyun is the third child of the late Samsung Chairman Lee Kun-Hee. She will be in charge of the overall strategic planning of Samsung C&amp;T.</li>
<li>Many investors will likely to question this move, since they may question her ability to make strategic decisions that are in the best interests of all the minority investors. </li>
</ul>


On 29 March, it was reported that Lee Seo-Hyun has been appointed as the President of Samsung C&amp;T (028260 KS), returning to the company after more than five years.
Lee Seo-Hyun is the third child of the late Samsung Chairman Lee Kun-Hee. She will be in charge of the overall strategic planning of Samsung C&amp;T.
Many investors will likely to question this move, since they may question her ability to make strategic decisions that are in the best interests of all the minority investors. 


Samsung C&T: Why Is Lee Seo-Hyun Returning as the President?

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Singtel (Singapore Telecommunications) / Event-Driven

<ul>
<li>Even if you were an activist, or a trader with an activism tilt, be long <a href="https://www.smartkarma.com/entities/keisei-electric-railway-co" target="_blank" data-smartkarma-citation="entities:10876:1" rel="noopener">Keisei Electric Railway Co (9009 JP)</a> vs. <a href="https://www.smartkarma.com/entities/oriental-land-co-ltd" target="_blank" data-smartkarma-citation="entities:13517:1" rel="noopener">Oriental Land (4661 JP)</a>.</li>
<li>Reportedly, <a href="https://www.smartkarma.com/entities/singapore-telecommunications" target="_blank" data-smartkarma-citation="entities:20:1" rel="noopener">Singtel (ST SP)</a> is negotiating a sale of Optus. Both Singtel and Optus scotch those rumours. </li>
<li>
<a href="https://www.smartkarma.com/entities/alumina-ltd" target="_blank" data-smartkarma-citation="entities:939:1" rel="noopener">Alumina Ltd (AWC AU)</a> and <a href="https://www.smartkarma.com/entities/alcoa-corp" target="_blank" data-smartkarma-citation="entities:6510:1" rel="noopener">Alcoa (AA US)</a> enter into a Scheme. As expected. The key question: is CITIC, with 18.9% of shares out, supportive?</li>
</ul>


Even if you were an activist, or a trader with an activism tilt, be long Keisei Electric Railway Co (9009 JP) vs. Oriental Land (4661 JP).
Reportedly, Singtel (ST SP) is negotiating a sale of Optus. Both Singtel and Optus scotch those rumours. 

Alumina Ltd (AWC AU) and Alcoa (AA US) enter into a Scheme. As expected. The key question: is CITIC, with 18.9% of shares out, supportive?


Last Week in Event SPACE: Keisei Electric /Oriental Land, SingTel, Alumina/Alcoa, Li Ning

South Korea

KCC Corp, manufactures paint & related product, building materials such as cement corrugated sheet, glass wool mat, and board & pipe cover, PVC window profile, paints, and ceramic fiber for high temperature applications. The Company also produces various glasses such as glass fiber, float glass, patterned glass, safety tempered glass, and long glass fibers.

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Kcc Corp (002380 KS)

An Update on Samsung Electronics Chairman Lee Jae-Yong and His Family Members' Inheritance Taxes

Once Lee Jae-Yong makes the final inheritance tax payment next year (April 2026), he can start to reinvest his dividend income in various Samsung...

Douglas Kim

HD Hyundai: Will It Increase Ownership Stake In HD Korea Shipbuilding & Offshore Engineering?

There has been an increasing speculation of HD Hyundai increasing its stake in HD Korea Shipbuilding & Offshore Engineering (HD KSOE) in 2025.

Douglas Kim

Samsung Biologics: Creation of a Holding Company to Split CDMO and Biosimilar Businesses

On 22 May, Samsung Biologics (207940 KS) announced that that it plans to establish a new holding company called Samsung Bioepis Holdings through a...

Douglas Kim

Samsung C&T: Why Is Lee Seo-Hyun Returning as the President?

On 29 March, it was reported that Lee Seo-Hyun has been appointed as the President of Samsung C&T (028260 KS), returning to the company after more...

Douglas Kim

Last Week in Event SPACE: Keisei Electric /Oriental Land, SingTel, Alumina/Alcoa, Li Ning

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

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