Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

Samsung Electronics Pref Shares / Event-Driven

Samsung Electronics Pref Shares (005935 KS)

<ul>
<li>Local chatter now points to Samsung announcing shareholder returns as early as Friday, driven by government pressure and Hynix’s more aggressive buyback.</li>
<li>Samsung is expected to split its 50% FCF return into two tranches: KRW 40-50T from late August, then roughly KRW 50T in early 2027, led by buybacks and special dividends.</li>
<li>Samsung’s special dividend record date should remain September 30, with Q3 regular and special dividends likely approved together at the late October board meeting.</li>
</ul>


Local chatter now points to Samsung announcing shareholder returns as early as Friday, driven by government pressure and Hynix’s more aggressive buyback.
Samsung is expected to split its 50% FCF return into two tranches: KRW 40-50T from late August, then roughly KRW 50T in early 2027, led by buybacks and special dividends.
Samsung’s special dividend record date should remain September 30, with Q3 regular and special dividends likely approved together at the late October board meeting.


Local Intel on Timing and Structure of Samsung’s Return Package

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

Samsung Electronics Pref Shares / Equity Bottom-Up

<ul>
<li>Numerous major news outlets including Reuters have reported that Samsung Electronics is getting ready to announce a major shareholder return plan worth more than 100 trillion won ($72 billion). </li>
<li>The proposed framework would return about 50% of free cash flow to shareholders, with dividends expected to make up most of the payout.</li>
<li>Samsung Electronics (005930 KS) and Samsung Electronics Pref Shares (005935 KS) were up 3.9% and 8.3%, respectively today on the back of this news about the potential major shareholder returns.</li>
</ul>


Numerous major news outlets including Reuters have reported that Samsung Electronics is getting ready to announce a major shareholder return plan worth more than 100 trillion won ($72 billion). 
The proposed framework would return about 50% of free cash flow to shareholders, with dividends expected to make up most of the payout.
Samsung Electronics (005930 KS) and Samsung Electronics Pref Shares (005935 KS) were up 3.9% and 8.3%, respectively today on the back of this news about the potential major shareholder returns.


Samsung Electronics Preparing to Announce Shareholder Returns of 100 Trillion Won+

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>
<a href="https://www.smartkarma.com/profiles/sanghyun-park" target="_blank" data-smartkarma-citation="accounts:354" rel="noopener">Sanghyun Park</a> scooped <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a>'s $72B payout plan on Aug 19—a day prior to mainstream media adoption that triggered Thursday’s Samsung +9.49% surge.</li>
<li>On Aug 2 <a href="https://www.smartkarma.com/insights/samsung-electronics-005930-ks-tactical-outlook-position-for-next-leg-up" target="_blank" rel="noopener">we advised positioning LONG in Samsung Electronics at/below 240 to capture the next leg of upside</a>. The stock bottomed the following week at 227.5. </li>
<li>
Last week <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung</a> became overbought, this was signaled in our <a href="https://www.smartkarma.com/insights/weekly-tactical-recap-tencent-sk-hynix-samsung-ks200-hitachi-advantest-corp-hanwa-solutions" target="_blank" rel="noopener">WEEKLY Tactical Recap</a>. The stock fell this week (as expected) but the payout plan news propped the stock up again.</li>
</ul>



Sanghyun Park scooped Samsung Electronics (005930 KS)'s $72B payout plan on Aug 19—a day prior to mainstream media adoption that triggered Thursday’s Samsung +9.49% surge.
On Aug 2 we advised positioning LONG in Samsung Electronics at/below 240 to capture the next leg of upside. The stock bottomed the following week at 227.5. 

Last week Samsung became overbought, this was signaled in our WEEKLY Tactical Recap. The stock fell this week (as expected) but the payout plan news propped the stock up again.


Samsung Electronics (005930 KS) Tactical Outlook Post-$72B Capital Return Plan

Technology / Semiconductor / Internet Research

Nicolas Baratte

<ul>
<li>TrendForce has revised up its 2026-27 Memory industry value massively. In 2026: US$889 bn, up 278% YoY. In 2027 $1,283bn, up 44% YoY, and that’s probably too low.</li>
<li>Upside from 1) AI capex increasing in particular Agentic / Inference is accelerating 2) higher price increase than expected 3) Inference means more CPU, more server DDR (not HBM).</li>
<li>Based on that, the aggregate of Kioxia, Micron, SK Hynix, Samsung is trading at 6.7x Market-Cap-to-EBIT for 2026, 4.5x for 2027. Memory stocks are still very cheap. Buy a bundle.</li>
</ul>


TrendForce has revised up its 2026-27 Memory industry value massively. In 2026: US$889 bn, up 278% YoY. In 2027 $1,283bn, up 44% YoY, and that’s probably too low.
Upside from 1) AI capex increasing in particular Agentic / Inference is accelerating 2) higher price increase than expected 3) Inference means more CPU, more server DDR (not HBM).
Based on that, the aggregate of Kioxia, Micron, SK Hynix, Samsung is trading at 6.7x Market-Cap-to-EBIT for 2026, 4.5x for 2027. Memory stocks are still very cheap. Buy a bundle.


Memory Is Still Your Best Friend. Memory Revenues Revised up Massively, Margins Expanding Further

Index Rebalance

<ul>
<li>It has been confirmed that the launch of Samsung Electronics (005930 KS) and SK Hynix (000660 KS) 2x single-stock leveraged ETFs will start on 27 May.
</li>
<li>Some investors may actually be buying more of Samsung Electronics and SK Hynix ahead of this actual launch event on 27 May.</li>
<li>For traders that intend to trade these products, it is all about risk management rather than FOMO. </li>
</ul>


It has been confirmed that the launch of Samsung Electronics (005930 KS) and SK Hynix (000660 KS) 2x single-stock leveraged ETFs will start on 27 May.

Some investors may actually be buying more of Samsung Electronics and SK Hynix ahead of this actual launch event on 27 May.
For traders that intend to trade these products, it is all about risk management rather than FOMO. 


Launch of Samsung Electronics and SK Hynix 2x Single-Stock Leveraged ETFs Confirmed for 27 May

South Korea

Samsung Electronics Co., Ltd. manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

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Samsung Electronics (005930 KS)

Local Intel on Timing and Structure of Samsung’s Return Package

Samsung’s shareholder return plan landed within my KRW 90-110tn FCF range, with KRW 110tn likely the ceiling and 4Q CAPEX upside still likely. The...

Sanghyun Park

Samsung Electronics Preparing to Announce Shareholder Returns of 100 Trillion Won+

Numerous major news outlets including Reuters have reported that Samsung Electronics is getting ready to announce a major shareholder return plan...

Douglas Kim