Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>The Supreme Court of Korea plans to make a final ruling on Samsung's Lee Jae-Yong on 17 July.</li>
<li>If the Supreme Court confirms this appellate court's ruling, then Lee Jae-Yong would finally be cleared of all charges related to the Samsung C&amp;T and Cheil Industries merger. </li>
<li>The market is mostly expecting the confirmation of "not guilty" on all 19 charges on Lee Jae-Yong.</li>
</ul>


The Supreme Court of Korea plans to make a final ruling on Samsung's Lee Jae-Yong on 17 July.
If the Supreme Court confirms this appellate court's ruling, then Lee Jae-Yong would finally be cleared of all charges related to the Samsung C&amp;T and Cheil Industries merger. 
The market is mostly expecting the confirmation of "not guilty" on all 19 charges on Lee Jae-Yong.


Supreme Court's Final Ruling on Samsung's Lee Jae-Yong on 17 July: Impact on Samsung Group Companies

<ul>
<li>One of the most important changes in the revisions of the Commercial Act in Korea that was passed in the Parliament last week was the "3% rule." </li>
<li>In this insight, we provide details of this 3% rule and how it is likely to significantly impact the Korean equity markets. </li>
<li>Major impact of the 3% rule is it is likely to shake up the BODs at many Korean companies. Many global activist investors will likely be more active in Korea.</li>
</ul>


One of the most important changes in the revisions of the Commercial Act in Korea that was passed in the Parliament last week was the "3% rule." 
In this insight, we provide details of this 3% rule and how it is likely to significantly impact the Korean equity markets. 
Major impact of the 3% rule is it is likely to shake up the BODs at many Korean companies. Many global activist investors will likely be more active in Korea.


Significance of The "3% Rule" In the Revision of the Commercial Act in Korea

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

<ul>
<li>The bill submitted by the Democratic Party today highlights that separate taxation on dividend income applies only to dividends from companies with a 35% payout ratio or higher.</li>
<li>We might see re-rating on dividend stocks with solid cash flow but below 35%, especially banks over telcos. Holdcos like Samsung C&amp;T, LG, and Hyundai Glovis could attract attention too.</li>
<li>Dark horses like NAVER, with earnings potential, and Samsung Electronics, currently at 25%, could attract attention if they increase payouts to 35%.</li>
</ul>


The bill submitted by the Democratic Party today highlights that separate taxation on dividend income applies only to dividends from companies with a 35% payout ratio or higher.
We might see re-rating on dividend stocks with solid cash flow but below 35%, especially banks over telcos. Holdcos like Samsung C&amp;T, LG, and Hyundai Glovis could attract attention too.
Dark horses like NAVER, with earnings potential, and Samsung Electronics, currently at 25%, could attract attention if they increase payouts to 35%.


Korea Dems' Surprise Proposal: Separate Tax for Dividends Over 35% Payout

<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

<ul>
<li>In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (23 May to 6 June 2025).</li>
<li>Our top 10 picks were up on average 2.4% in the past two weeks (from 9 to 23 May), outperforming KOSPI which was up 0.6% in the same period.</li>
<li>The top 10 picks in this bi-weekly include Samsung Securities, LG Uplus, Amorepacific Holdings, Samsung C&amp;T, JYP Entertainment, Nongshim, Krafton, LS Electric, F&amp;F, and Emart. </li>
</ul>


In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (23 May to 6 June 2025).
Our top 10 picks were up on average 2.4% in the past two weeks (from 9 to 23 May), outperforming KOSPI which was up 0.6% in the same period.
The top 10 picks in this bi-weekly include Samsung Securities, LG Uplus, Amorepacific Holdings, Samsung C&amp;T, JYP Entertainment, Nongshim, Krafton, LS Electric, F&amp;F, and Emart. 


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (23 May to 6 June 2025)

South Korea

Samsung C&T Corporation conducts diversified business support services and resort operation activities. The Company offers a range of services in areas including clothing retail, construction, energy, real estate, food service, and resort accommodations. Samsung C&T also operates a resort with amusement rides, a zoo, water park, golf clubs, and restaurants.

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Samsung C&T (028260 KS)

Supreme Court's Final Ruling on Samsung's Lee Jae-Yong on 17 July: Impact on Samsung Group Companies

The Supreme Court confirmed the original verdict of NOT GUILTY on all 19 charges for Samsung Chairman Lee Jae-Yong. This final decision is likely...

Douglas Kim

Significance of The "3% Rule" In the Revision of the Commercial Act in Korea

One of the most important changes in the revisions of the Commercial Act in Korea that was passed in the Parliament last week was the "3% rule."

Douglas Kim

Korea Dems' Surprise Proposal: Separate Tax for Dividends Over 35% Payout

Dividend momentum is building in Korea post-election. President Lee visited Yeouido today, aggressively signaling strong support for tax incentives...

Sanghyun Park

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

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (23 May to 6 June 2025)

In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (23 May to 6 June 2025).

Douglas Kim

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)