Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

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?

Equity Bottom-Up

<ul>
<li>“In the next 50 years... we won’t give a thought to selling those [Japanese trading companies].... Japan’s record has been extraordinary.” (Warren Buffett)</li>
<li>In this insight, we provide detailed comparisons of the five major Japanese trading companies and five major Korean holdcos/trading companies. </li>
<li>Japanese trading companies have higher points for market cap, ROE, DPS increase, and shares cancellation. Korean holdcos have higher points for dividend yield, debt/equity ratio, ROIC, and valuations. </li>
</ul>


“In the next 50 years... we won’t give a thought to selling those [Japanese trading companies].... Japan’s record has been extraordinary.” (Warren Buffett)
In this insight, we provide detailed comparisons of the five major Japanese trading companies and five major Korean holdcos/trading companies. 
Japanese trading companies have higher points for market cap, ROE, DPS increase, and shares cancellation. Korean holdcos have higher points for dividend yield, debt/equity ratio, ROIC, and valuations. 


Shareholder Returns of Japanese Trading Companies Invested By Buffett Vs Top Korean Trading/Holdcos

<ul>
<li>In the Korean stock market, one of the biggest positive catalysts of Donald Trump becoming the next United States President has been the shipbuilding sector.</li>
<li>About 20 years, the United States had a dominant naval superiority versus China. That is no longer the case. </li>
<li>There is a likely scenario of the US Navy increasingly outsourcing the construction and after-service of its fleet to Korean companies such as Hanwha Ocean and HD Hyundai Heavy Industries.</li>
</ul>


In the Korean stock market, one of the biggest positive catalysts of Donald Trump becoming the next United States President has been the shipbuilding sector.
About 20 years, the United States had a dominant naval superiority versus China. That is no longer the case. 
There is a likely scenario of the US Navy increasingly outsourcing the construction and after-service of its fleet to Korean companies such as Hanwha Ocean and HD Hyundai Heavy Industries.


Trump Catalyst - Korean Shipbuilding Sector

<ul>
<li><em><strong>Lee Jae-Myung (who is leading in most election polls) has mentioned cancellation of treasury shares as one of the key campaign pledges to improve the corporate governance in Korea.</strong></em></li>
<li>If the cancellation of these shares becomes mandatory, the SK Group and Lotte Group will be most affected. </li>
<li>We provide a list of 21 stocks in KOSPI200 that have the highest ratios for treasury shares/total outstanding shares. These stocks could receive more attention in the next several months. </li>
</ul>


Lee Jae-Myung (who is leading in most election polls) has mentioned cancellation of treasury shares as one of the key campaign pledges to improve the corporate governance in Korea.
If the cancellation of these shares becomes mandatory, the SK Group and Lotte Group will be most affected. 
We provide a list of 21 stocks in KOSPI200 that have the highest ratios for treasury shares/total outstanding shares. These stocks could receive more attention in the next several months. 


Lee Jae-Myung's Campaign Pledge - Cancellation of Treasury Shares

Cross Asset Strategy

<ul>
<li>KOSPI and KOSDAQ are up 10.2% and 14%, respectively YTD, outperforming S&amp;P 500 is up 2.2% in the same period.  so far. </li>
<li>One of the big drivers of higher share prices of Korean stock market this year has been the strong net buying by the NPS.</li>
<li>Some of the major stocks that have been net purchased by the NPS so far this year include Samsung Electronics, SK Hynix, LG Energy Solution, Hyundai E&amp;C, and Samsung Biologics.</li>
</ul>


KOSPI and KOSDAQ are up 10.2% and 14%, respectively YTD, outperforming S&amp;P 500 is up 2.2% in the same period.  so far. 
One of the big drivers of higher share prices of Korean stock market this year has been the strong net buying by the NPS.
Some of the major stocks that have been net purchased by the NPS so far this year include Samsung Electronics, SK Hynix, LG Energy Solution, Hyundai E&amp;C, and Samsung Biologics.


What Is NPS Buying and Selling in the Korean Stock Market in 2025 So Far?

South Korea

HD Hyundai Co.,Ltd. operates as a oil refining company. The Company provides crude oil refining, petroleum refinery, and other related products. HD Hyundai markets its products worldwide.

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HD Hyundai (267250 KS)

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

Shareholder Returns of Japanese Trading Companies Invested By Buffett Vs Top Korean Trading/Holdcos

In this insight, we provide detailed comparisons of the five major Japanese trading companies and five major Korean holdcos/trading companies.

Douglas Kim

Trump Catalyst - Korean Shipbuilding Sector

KDB is pushing for the sale of some of its Hanwha Ocean shares (13 million initially, more later on) through block deal sale which is likely to...

Douglas Kim

Lee Jae-Myung's Campaign Pledge - Cancellation of Treasury Shares

Lee Jae-Myung (who is leading in most election polls) has mentioned cancellation of treasury shares as one of the key campaign pledges to improve...

Douglas Kim

What Is NPS Buying and Selling in the Korean Stock Market in 2025 So Far?

One of the big drivers of higher share prices of Korean stock market this year has been the strong net buying by the NPS. Pension funds in Korea...

Douglas Kim

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