Founder/CEO of ROK Advisory, ROK Advisory LLC

Ken S. Kim

Founder/CEO of ROK Advisory

ROK Advisory LLC

ROK is an independent research advisory firm. We guide you to minimize the information gap between foreign and local investors in Northeast Asia with a focus in Korea, Taiwan and Japan.

Independent Research Advisory Firm

Equity Bottom-Up

<p>The inheritance tax due for the late KH Lee is set at W11.4 trillion.  The market is interested in how this $10 billion bill will be paid by the Lee family and ensconced a general take on how to pay for this without a big cash outlay</p>

The inheritance tax due for the late KH Lee is set at W11.4 trillion.  The market is interested in how this $10 billion bill will be paid by the Lee family and ensconced a general take on how to pay for this without a big cash outlay

Samsung Inheritance Tax Set Is Good News for Samsung Dividends

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Event-Driven

<p>Everything seems to be clicking for Samsung Heavy lately.</p><p>The price is nearing a new 52W high as 1M gain amounts to 36%. It is currently 40% above the 20D EMA.</p><p>Even today, the shares are super actively trading at a 7x 30D DTV (nearly US$300M). </p><table class="table table-striped">
<colgroup>
<col width="70">
<col width="70">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Item"}'>Item</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Value"}'>Value</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Name"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>Name</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Samsung Heavy Industries Co.,Ltd"}' data-sheets-numberformat='{"1":4,"2":"[$₩]#,##0"}' data-sheets-formula='=googlefinance(R[1]C[0], "name")'>Samsung Heavy Industries Co., Ltd</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Ticker"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>Ticker</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"010140"}' data-sheets-numberformat='{"1":4,"2":"[$₩]#,##0"}' data-sheets-formula='="010140"'>010140</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"MC (₩B)"}'>MC (₩B)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":4437.814898}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula='=googlefinance(R[-1]C[0], "marketcap")/1000000000'>4,437.8</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"TV/DTV (x)"}'>TV/DTV (x)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":7.081586919405633}' data-sheets-numberformat='{"1":2,"2":"#,##0.00","3":1}' data-sheets-formula='=googlefinance(R[-7]C[0], "volume")/googlefinance(R[-7]C[0], "volumeavg")'>7.08</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"- DTV (₩B)"}'>- DTV (₩B)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":32.792907414285715}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula='=googlefinance(R[-8]C[0], "volumeavg")*average(index(googlefinance(R[-8]C[0], "price", today()-30, today()), 0,2))/1000000000'>32.8</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"TV (₩B)"}'>TV (₩B)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":288.64293488}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula='=googlefinance(R3C[0], "volume")*R[-6]C[1]/1000000000'>288.6</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - % of SO"}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}'>- % of SO</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.06563945396825396}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='=googlefinance(R[-10]C[0], "volume")/googlefinance(R[-10]C[0], "shares")'>6.56%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"RSI (14)"}'>RSI (14)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":76.17947249921087}' data-sheets-numberformat='{"1":2,"2":"#,##0.00","3":1}' data-sheets-formula="=R[480]C[7]">76.18</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"%K"}'>%K</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":81.30434782608695}' data-sheets-numberformat='{"1":2,"2":"#,##0.00","3":1}' data-sheets-formula="=R[479]C[10]">81.30</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"%D"}'>%D</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":75.39881573448905}' data-sheets-numberformat='{"1":2,"2":"#,##0.00","3":1}' data-sheets-formula="=R[478]C[11]">75.40</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"52WH"}'>52WH</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":-0.06809078771695594}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R6C[1]-R[0]C[1])/R[0]C[1]">-6.81%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Date"}'>- Date</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":43845.64583333333}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}' data-sheets-formula='=index(googlefinance(R[-23]C[0], "price", today()-365, today()), (match(max(index(googlefinance(R[-23]C[0], "price", today()-365, today()), 0, 2)), index(googlefinance(R[-23]C[0], "price", today()-365, today()), 0, 2), 0)), 1)'>1/15/20</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"52WL"}'>52WL</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1.2407704654895666}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R6C[1]-R[0]C[1])/R[0]C[1]">124.08%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Date"}'>- Date</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":43913.64583333333}' data-sheets-numberformat='{"1":5,"2":"m\"/\"d\"/\"yy"}' data-sheets-formula='=index(googlefinance(R[-25]C[0], "price", today()-365, today()), (match(min(index(googlefinance(R[-25]C[0], "price", today()-365, today()), 0, 2)), index(googlefinance(R[-25]C[0], "price", today()-365, today()), 0, 2), 0)), 1)'>3/23/20</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"20D SMA"}'>20D SMA</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.48890784982935154}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R6C3-R178C[15])/R178C[15]">48.89%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"20D EMA"}'>20D EMA</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.3958087194948088}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=(R6C3-R178C[16])/R178C[16]">39.58%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"1M Δ"}'>1M Δ</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.3553398058252427}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='=(googlefinance(R[-28]C2, "price")-index(googlefinance(R[-28]C2, "price", today()-30), 2,2))/index(googlefinance(R[-28]C2, "price", today()-30), 2,2)'>35.53%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"1M SD"}'>1M SD</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.09740796096387769}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='=stdev.s(index((googlefinance(R3C[0], "price", today()-30, today())), 0, 2))/average(index((googlefinance(R3C[0], "price", today()-30, today())), 0, 2))'>9.74%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"3M Δ"}'>3M Δ</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.3371647509578544}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='=(googlefinance(R[-30]C2, "price")-index(googlefinance(R[-30]C2, "price", today()-90), 2,2))/index(googlefinance(R[-30]C2, "price", today()-90), 2,2)'>33.72%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"3M SD"}'>3M SD</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.06832492657050346}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='=stdev.s(index((googlefinance(R3C[0], "price", today()-90, today())), 0, 2))/average(index((googlefinance(R3C[0], "price", today()-90, today())), 0, 2))'>6.83%</td>
</tr>
<tr><td colspan="2" data-sheets-value='{"1":2,"2":"Source: Google Finance"}'>Source: Google Finance</td></tr>
</tbody>
</table><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/173/552/original/chart.png?1606188554" class="editor-image img-responsive" data-smartkarma-image-id="173552"></figure></section><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/173/553/original/chart%20%281%29.png?1606188563" class="editor-image img-responsive" data-smartkarma-image-id="173553"></figure></section><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/173/554/original/chart%20%282%29.png?1606188572" class="editor-image img-responsive" data-smartkarma-image-id="173554"></figure></section>

Everything seems to be clicking for Samsung Heavy lately.The price is nearing a new 52W high as 1M gain amounts to 36%. It is currently 40% above the 20D EMA.Even today, the shares are super actively trading at a 7x 30D DTV (nearly US$300M). 






Item
Value


Name
Samsung Heavy Industries Co., Ltd


Ticker
010140


MC (₩B)
4,437.8


TV/DTV (x)
7.08


- DTV (₩B)
32.8


TV (₩B)
288.6


- % of SO
6.56%


RSI (14)
76.18


%K
81.30


%D
75.40


52WH
-6.81%


- Date
1/15/20


52WL
124.08%


- Date
3/23/20


20D SMA
48.89%


20D EMA
39.58%


1M Δ
35.53%


1M SD
9.74%


3M Δ
33.72%


3M SD
6.83%

Source: Google Finance



Samsung C&T Holdco Conversion Ratio Calculations: Why Samsung Heavy in the Picture?

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Cross Asset Strategy

<p>October continued to see sector rotation in Korea with growth-oriented stocks under performing value-oriented stocks. The following were the top 10 issues related to Korean stock market, economy, and politics in October 2020.</p><p><strong>1) DEATH OF SAMSUNG GROUP CHAIRMAN LEE KUN HEE</strong></p><p><strong>2) BIG HIT ENTERTAINMENT IPO</strong></p><p><strong>3) REGULATORS GOING AFTER THE OPTIMUS FUNDS </strong></p><p><strong>4) MAJOR POTENTIAL CHANGE IN TAX LAWS THAT COULD RESULT IN BIG SELLING BY RETAIL IN DECEMBER </strong></p><p><strong>5) LG CHEM APPROVES TO SEPARATE THE BATTERY BUSINESS </strong></p><p><strong>6) STRATEGIC PARTNERSHIP BETWEEN NAVER &amp; THE CJ GROUP</strong></p><p><strong>7) SK TELECOM SPINS OFF MOBILITY BUSINESS &amp; PARTNERS WITH UBER </strong></p><p><strong>8) PAYPAL ALLOWS TRANSACTIONS IN CRYPTOS </strong></p><p><strong>9) INCREASED NEWS FLOW ABOUT THE NEED TO RECOUNT VOTES OF 4.15 (15 April 2020) PARLIAMENTARY ELECTION </strong></p><p><strong>10) SOCAR BECOMES THE NEXT UNICORN </strong></p>

October continued to see sector rotation in Korea with growth-oriented stocks under performing value-oriented stocks. The following were the top 10 issues related to Korean stock market, economy, and politics in October 2020.1) DEATH OF SAMSUNG GROUP CHAIRMAN LEE KUN HEE2) BIG HIT ENTERTAINMENT IPO3) REGULATORS GOING AFTER THE OPTIMUS FUNDS 4) MAJOR POTENTIAL CHANGE IN TAX LAWS THAT COULD RESULT IN BIG SELLING BY RETAIL IN DECEMBER 5) LG CHEM APPROVES TO SEPARATE THE BATTERY BUSINESS 6) STRATEGIC PARTNERSHIP BETWEEN NAVER &amp; THE CJ GROUP7) SK TELECOM SPINS OFF MOBILITY BUSINESS &amp; PARTNERS WITH UBER 8) PAYPAL ALLOWS TRANSACTIONS IN CRYPTOS 9) INCREASED NEWS FLOW ABOUT THE NEED TO RECOUNT VOTES OF 4.15 (15 April 2020) PARLIAMENTARY ELECTION 10) SOCAR BECOMES THE NEXT UNICORN 

Korea Stock Market Monthly Recap #53 (October 2020)

<p>Lee Kun-Hee's value of Samsung related shares is estimated to be <a href="https://newsis.com/view/?id=NISX20201025_0001209736&amp;cID=13001&amp;pID=13000" target="_blank" rel="noopener">18.2 trillion won</a> (US$16.2 billion) as of 23 October 2020. It is estimated that there will be about 10.6 trillion won in inheritance taxes associated with Lee Kun-Hee's holdings in public equities. This would represent 58.2% in the inheritance tax rate. </p><p>Samsung C&amp;T had a really good day today (up 13.5%). Our SoTP analysis of Samsung C&amp;T suggests that it remains highly undervalued right now. <strong>Our SoTP analysis suggests an implied price per share of 186,00 won, which is 57% higher than the current price of 118,000 won.</strong> Samsung C&amp;T's investment stakes in affiliates are worth 43 trillion won.</p>

Lee Kun-Hee's value of Samsung related shares is estimated to be 18.2 trillion won (US$16.2 billion) as of 23 October 2020. It is estimated that there will be about 10.6 trillion won in inheritance taxes associated with Lee Kun-Hee's holdings in public equities. This would represent 58.2% in the inheritance tax rate. Samsung C&amp;T had a really good day today (up 13.5%). Our SoTP analysis of Samsung C&amp;T suggests that it remains highly undervalued right now. Our SoTP analysis suggests an implied price per share of 186,00 won, which is 57% higher than the current price of 118,000 won. Samsung C&amp;T's investment stakes in affiliates are worth 43 trillion won.

Details on Inheritance Taxes & Impact on the Samsung Group Post Death of Chairman Lee

<p>What's clear at this point is that the Lee family has to address immense inheritance tax (at least ₩9T).</p><p>Which family member gets how much is a secondary question. What's important now is the amount of the tax that the entire family has to bear.</p><table class="table table-striped">
<colgroup>
<col width="300">
<col width="150">
<col width="150">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Wealth owned by Lee Kun-hee (₩B)"}'>Lee Kun-hee's shareholding (₩B)</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Shareholding"}'>Shareholding</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Value"}'>60D avg. value</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Samsung Electronics Co Ltd"}' data-sheets-formula='=googlefinance(R[0]C[3], "name")'>Samsung Electronics Co Ltd</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.04175582576286636}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=Shareholding!R[7]C[2]">4.18%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":15006.24664}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula='=googlefinance(R[0]C[1], "price")*googlefinance(R[0]C[1], "shares")*R[0]C[-1]/1000000000'>15,006.2</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Samsung Life Insurance co., Ltd"}' data-sheets-formula='=googlefinance(R[0]C[3], "name")'>Samsung Life Insurance co., Ltd</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.2075959}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=Shareholding!R[99]C[2]">20.76%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2619.860258}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula='=googlefinance(R[0]C[1], "price")*googlefinance(R[0]C[1], "shares")*R[0]C[-1]/1000000000'>2,619.9</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Samsung C&amp;T Corp"}' data-sheets-formula='=googlefinance(R[0]C[3], "name")'>Samsung C&amp;T Corp</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.029032145887066426}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula="=Shareholding!R[-19]C[2]">2.90%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":564.276232}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula='=googlefinance(R[0]C[1], "price")*googlefinance(R[0]C[1], "shares")*R[0]C[-1]/1000000000'>564.3</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Total"}'><strong>Total</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"-"}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'><strong>-</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":17626.106898}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=sum(R[-3]C[0]:R[-2]C[0])"><strong>17,626.1</strong></td>
</tr>
<tr><td colspan="3" rowspan="1" data-sheets-value='{"1":2,"2":"Source: KRX FIND"}'>Source: KRX FIND</td></tr>
</tbody>
</table><section class="figure"><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr><td colspan="2" data-sheets-value='{"1":2,"2":"Wealth owned by Lee Kun-hee (₩B)"}'>Inheritance tax (₩B)</td></tr>
<tr>
<td><p>Total shareholding value</p></td>
<td style="text-align: right;">17,626.1</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Taxable after various deductibles (70%)"}'>Taxable after various deductibles (70%)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":12432.1}' data-sheets-numberformat='{"1":2,"2":"#,##0.00","3":1}'>12,432.1</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"20% extra charge (management premium)"}'>20% extra charge (management premium)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":14918.6}' data-sheets-numberformat='{"1":2,"2":"#,##0.00","3":1}'>14,918.6</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Inheritance tax at a 60% tax rate"}'><strong>Inheritance tax at a 60% tax rate</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":8951.1}' data-sheets-numberformat='{"1":2,"2":"#,##0.00","3":1}'><strong>8,951.1</strong></td>
</tr>
<tr><td colspan="2" data-sheets-value='{"1":2,"2":"Source: KRX FIND"}'>Source: KRX FIND</td></tr>
</tbody>
</table></section><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/167/324/original/2.png?1603665274" class="editor-image img-responsive" data-smartkarma-image-id="167324"></figure><div class="content-highlight"><p><strong>The first question that will likely hit the market must be how the family would approach this tax situation.</strong></p></div></section>

What's clear at this point is that the Lee family has to address immense inheritance tax (at least ₩9T).Which family member gets how much is a secondary question. What's important now is the amount of the tax that the entire family has to bear.







Lee Kun-hee's shareholding (₩B)
Shareholding
60D avg. value


Samsung Electronics Co Ltd
4.18%
15,006.2


Samsung Life Insurance co., Ltd
20.76%
2,619.9


Samsung C&amp;T Corp
2.90%
564.3


Total
-
17,626.1

Source: KRX FIND







Inheritance tax (₩B)

Total shareholding value
17,626.1


Taxable after various deductibles (70%)
12,432.1


20% extra charge (management premium)
14,918.6


Inheritance tax at a 60% tax rate
8,951.1

Source: KRX FIND

The first question that will likely hit the market must be how the family would approach this tax situation.

LJY's New Samsung May Begin with Sale of Financial Arm (Life)

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Samsung C&T (028260 KS)

Samsung Inheritance Tax Set Is Good News for Samsung Dividends

Samsung Electronics has to double dividends over next 5-10 years which again goes to prove that in Korea ride with the best interest of the family...

Ken S. Kim

Samsung C&T Holdco Conversion Ratio Calculations: Why Samsung Heavy in the Picture?

This insight looks at Samsung C&T's holding company conversion situation, including the forceful conversion ratio calculations. Then, it examines...

Sanghyun Park

Korea Stock Market Monthly Recap #53 (October 2020)

In this insight, it provides the summary of the top 10 issues related to Korean stock market, economy, and politics in October 2020.

Douglas Kim

Details on Inheritance Taxes & Impact on the Samsung Group Post Death of Chairman Lee

Our SoTP analysis of Samsung C&T suggests that it remains highly undervalued right now with an implied price per share of 186,00 won, which is 57%...

Douglas Kim

LJY's New Samsung May Begin with Sale of Financial Arm (Life)

LJY's new Samsung may begin by selling the financial arm. The family needs to liquidate the Life shareholding for inheritance tax, but also...

Sanghyun Park

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)