Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>In this insight, we discuss the alpha generation through companies that announced share buybacks in Korea in January and February 2024.</li>
<li>We provide a list of 22 stocks in the Korean stock market that have announced share buyback programs in the past two months.</li>
<li>Major companies that have announced share buybacks in Korea in the past two months include Shinhan Financial, Hyundai Mobis, and Samick Musical Instruments. All three have outperformed the market. </li>
</ul>


In this insight, we discuss the alpha generation through companies that announced share buybacks in Korea in January and February 2024.
We provide a list of 22 stocks in the Korean stock market that have announced share buyback programs in the past two months.
Major companies that have announced share buybacks in Korea in the past two months include Shinhan Financial, Hyundai Mobis, and Samick Musical Instruments. All three have outperformed the market. 


Alpha Generation Through Share Buybacks in Korea: Bi-Monthly (Jan and Feb 2024)

Event-Driven

<ul>
<li>Hyundai Motor Group has become the largest shareholder of KT Corp, as the National Pension Service has recently reduced its stake in KT from 8.53% previously to 7.51%. </li>
<li>Despite this recent change in the largest shareholder status of KT Corp, this requires the approval from the Korean Ministry of Science and ICT. </li>
<li>Although the Hyundai Motor Group (HMG) has become the largest owner in KT Corp, the most likely scenario is for HMG to remain a passive investor in KT.</li>
</ul>


Hyundai Motor Group has become the largest shareholder of KT Corp, as the National Pension Service has recently reduced its stake in KT from 8.53% previously to 7.51%. 
Despite this recent change in the largest shareholder status of KT Corp, this requires the approval from the Korean Ministry of Science and ICT. 
Although the Hyundai Motor Group (HMG) has become the largest owner in KT Corp, the most likely scenario is for HMG to remain a passive investor in KT.


Hyundai Motor Group Becomes the Largest Shareholder of KT Corp

<ul>
<li>Hyundai Motor (005380 KS) launched its long-awaited Ioniq 6 on 14 July. This is the first EV sedan by Hyundai Motor.</li>
<li>Ioniq 6 could be a big winner for Hyundai Motor. Among all the features of Ioniq 6, the driving range is the biggest improvement versus Ioniq 5. </li>
<li>The combination of attractive price, sleek design, and higher driving range is likely to result in a strong demand for Ioniq 6.</li>
</ul>


Hyundai Motor (005380 KS) launched its long-awaited Ioniq 6 on 14 July. This is the first EV sedan by Hyundai Motor.
Ioniq 6 could be a big winner for Hyundai Motor. Among all the features of Ioniq 6, the driving range is the biggest improvement versus Ioniq 5. 
The combination of attractive price, sleek design, and higher driving range is likely to result in a strong demand for Ioniq 6.


Hyundai Motor's Ioniq 6 - To Take Away More Market Share From Tesla Model 3 Sedan?

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX Stocks as of May 3rd which has an aggregated holding worth USD529.7bn.</li>
<li>We estimate that foreign flows to be inflows of USD1,168mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in Celltrion (068270 KS), Sk Hynix (000660 KS).</li>
</ul>


We analyzed the changes in foreign holdings of KRX Stocks as of May 3rd which has an aggregated holding worth USD529.7bn.
We estimate that foreign flows to be inflows of USD1,168mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in Celltrion (068270 KS), Sk Hynix (000660 KS).


KRX Foreign Holding Weekly (May 3rd): Celltrion, Sk Hynix

Douglas Research Advisory

<ul>
<li>This insight is a book review of 주주 권리가 없는 나라 (A Country Without Shareholder Rights), which is one of the best books on the corporate governance in Korea.</li>
<li>There are so much wisdom that are included in this book. The author really goes into details about numerous corporate governance problems in Korea and ways to fix them.</li>
<li>This book was published in January 2024 and it was written by a famous Korean retail investor called Park Young-Ok.</li>
</ul>


This insight is a book review of 주주 권리가 없는 나라 (A Country Without Shareholder Rights), which is one of the best books on the corporate governance in Korea.
There are so much wisdom that are included in this book. The author really goes into details about numerous corporate governance problems in Korea and ways to fix them.
This book was published in January 2024 and it was written by a famous Korean retail investor called Park Young-Ok.


A Country Without Shareholder Rights (주주 권리가 없는 나라) - A Book Review

South Korea

Hyundai Mobis Co., Ltd. manufactures and markets automotive parts and equipment, such as  automotive service components, modules, and systems. The Company also contractsenvironmental projects, including sewage treatment plant and industrial waste water treatment plant construction.

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Hyundai Mobis (012330 KS)

Hyundai Motor Group Becomes the Largest Shareholder of KT Corp

On 9 May, KT Corp (030200 KS) announced that it will cancel 5.1 million treasury shares (about 2% of outstanding shares), representing...

Douglas Kim

KRX Foreign Holding Weekly (May 3rd): Celltrion, Sk Hynix

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Celltrion (068270 KS), Sk Hynix (000660 KS).

Ke Yan, CFA, FRM

A Country Without Shareholder Rights (주주 권리가 없는 나라) - A Book Review

This insight is a book review of 주주 권리가 없는 나라 (A Country Without Shareholder Rights), which is one of the best books on the corporate governance in...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

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Alpha Generation Through Share Buybacks in Korea: Bi-Monthly (Jan and Feb 2024)

In this insight, we discuss the alpha generation through companies that announced share buybacks in Korea in January and February 2024.

Douglas Kim

Hyundai Motor Group Becomes the Largest Shareholder of KT Corp

On 9 May, KT Corp (030200 KS) announced that it will cancel 5.1 million treasury shares (about 2% of outstanding shares), representing...

Douglas Kim

Hyundai Motor's Ioniq 6 - To Take Away More Market Share From Tesla Model 3 Sedan?

Hyundai Motor launched its long-awaited Ioniq 6 on 14 July. This is the first EV sedan by Hyundai Moto. Among all the features of Ioniq 6, the...

Douglas Kim

KRX Foreign Holding Weekly (May 3rd): Celltrion, Sk Hynix

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Celltrion (068270 KS), Sk Hynix (000660 KS).

Ke Yan, CFA, FRM

A Country Without Shareholder Rights (주주 권리가 없는 나라) - A Book Review

This insight is a book review of 주주 권리가 없는 나라 (A Country Without Shareholder Rights), which is one of the best books on the corporate governance in...

Douglas Kim