Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (21 November to 5 December 2025).</li>
<li>Our top 10 picks in the past two weeks (7 to 21 November) were up on average 1.4% this period, outperforming KOSPI which was down 2.5% in the same period.</li>
<li>Our top 10 picks in the next two weeks include LG CNS, Hana Financial, Orion Corp, KT&amp;G, Naver, KEPCO E&amp;C, Hanmi Pharm, Amorepacific Corp, LG Chem (Pref), and SK Inc. </li>
</ul>


In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (21 November to 5 December 2025).
Our top 10 picks in the past two weeks (7 to 21 November) were up on average 1.4% this period, outperforming KOSPI which was down 2.5% in the same period.
Our top 10 picks in the next two weeks include LG CNS, Hana Financial, Orion Corp, KT&amp;G, Naver, KEPCO E&amp;C, Hanmi Pharm, Amorepacific Corp, LG Chem (Pref), and SK Inc. 


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly 21 November to 5 December 2025)

Cross Asset Strategy

<ul>
<li>It was reported that the Chinese government advised its citizens to refrain from traveling to Japan, which is likely to positively benefit the Korea in-bound tourism related stocks.</li>
<li>If the political tensions between China and Japan are not quickly resolved but continues to last, this would have further negative impact on the Japanese consumer/tourism/leisure related companies. </li>
<li>On the flip side, this could have a positive impact on the Korean consumer/tourism/leisure related companies such as Lotte Tour Development, Hotel Shilla, and Paradise. </li>
</ul>


It was reported that the Chinese government advised its citizens to refrain from traveling to Japan, which is likely to positively benefit the Korea in-bound tourism related stocks.
If the political tensions between China and Japan are not quickly resolved but continues to last, this would have further negative impact on the Japanese consumer/tourism/leisure related companies. 
On the flip side, this could have a positive impact on the Korean consumer/tourism/leisure related companies such as Lotte Tour Development, Hotel Shilla, and Paradise. 


China Advices Its Citizens to Refrain from Traveling to Japan - Beneficial Impact on Korea Tourism

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 short interest of KRX stocks as of Sep 19th. The aggregated short interest was USD11.4bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in NAVER, LG Electronics, HMM, LG Display, HYBE.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Sep 19th. The aggregated short interest was USD11.4bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in NAVER, LG Electronics, HMM, LG Display, HYBE.


KRX Short Interest Weekly (Sep 19th): NAVER, LG Electronics, HMM, LG Display, HYBE

<ul>
<li>On 6 August, the Korean government confirmed visa-free entry of group tourists from China to South Korea.</li>
<li>The new policy will allow the group tourists from China to visit South Korea on a visa-free basis from 29 September 2025 to end of June 2026.</li>
<li>We provide a list of top 20 companies in Korea that are key beneficiaries of the no visa policy for group tour visitors from China to South Korea.</li>
</ul>


On 6 August, the Korean government confirmed visa-free entry of group tourists from China to South Korea.
The new policy will allow the group tourists from China to visit South Korea on a visa-free basis from 29 September 2025 to end of June 2026.
We provide a list of top 20 companies in Korea that are key beneficiaries of the no visa policy for group tour visitors from China to South Korea.


Korean Government Confirms Visa-Free Entry of Group Tourists from China to South Korea

<ul>
<li>There are three major reasons why we would take profits on APR (278470 KS) at current levels. </li>
<li>They include lofty valuations, increased competition, and share price decline post large scale dividend payout announcement. </li>
<li>APR could be facing especially tough competition for the beauty device products from Amorepacific, LG H&amp;H, and others especially starting in 4Q 2025. </li>
</ul>


There are three major reasons why we would take profits on APR (278470 KS) at current levels. 
They include lofty valuations, increased competition, and share price decline post large scale dividend payout announcement. 
APR could be facing especially tough competition for the beauty device products from Amorepacific, LG H&amp;H, and others especially starting in 4Q 2025. 


APR: Time To Take Profits (Three Major Reasons)

South Korea

Amorepacific Corp. develops, manufactures, and exports skin care, make-up, and fragrance products. The Company also produces and markets personal care and health-related products, such as shampoos, soaps, toothpastes, and health teas.

Amorepacific Corporation (Preferred) (090435 KS)

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52-week Range	0.00 - 0.00
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Amorepacific Corporation (Preferred) (090435 KS)

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly 21 November to 5 December 2025)

In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (21 November to 5 December...

Douglas Kim

China Advices Its Citizens to Refrain from Traveling to Japan - Beneficial Impact on Korea Tourism

Chinese government advising against travel to Japan could boost Korean tourism stocks, while prolonged tensions could harm Japanese companies.

Douglas Kim

KRX Short Interest Weekly (Sep 19th): NAVER, LG Electronics, HMM, LG Display, HYBE

We analyzed KRX short interest report for the past week and highlighted short interest changes in NAVER, LG Electronics, HMM, LG Display, HYBE.

Ke Yan, CFA, FRM

Korean Government Confirms Visa-Free Entry of Group Tourists from China to South Korea

We provide a list of top 20 companies in Korea that are key beneficiaries of the no visa policy for group tour visitors from China to South Korea.

Douglas Kim

APR: Time To Take Profits (Three Major Reasons)

Three major reasons why we would take profits on APR at current levels including lofty valuations, increased competition, and share price decline...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly 21 November to 5 December 2025)

In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (21 November to 5 December...

Douglas Kim

China Advices Its Citizens to Refrain from Traveling to Japan - Beneficial Impact on Korea Tourism

​Chinese government advising against travel to Japan could boost Korean tourism stocks, while prolonged tensions could harm Japanese companies.

Douglas Kim

KRX Short Interest Weekly (Sep 19th): NAVER, LG Electronics, HMM, LG Display, HYBE

We analyzed KRX short interest report for the past week and highlighted short interest changes in NAVER, LG Electronics, HMM, LG Display, HYBE.

Ke Yan, CFA, FRM

Korean Government Confirms Visa-Free Entry of Group Tourists from China to South Korea

We provide a list of top 20 companies in Korea that are key beneficiaries of the no visa policy for group tour visitors from China to South Korea.

Douglas Kim

APR: Time To Take Profits (Three Major Reasons)

Three major reasons why we would take profits on APR at current levels including lofty valuations, increased competition, and share price decline...

Douglas Kim

Chinese government advising against travel to Japan could boost Korean tourism stocks, while prolonged tensions could harm Japanese companies.