Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

Korea Aerospace Industries / Event-Driven

<ul>
<li><em><strong>In the past several months, Hanwha Group companies purchased additional shares in Korea Aerospace Industries (KAI) so their combined stake is now 15.89%. </strong></em></li>
<li>Hanwha Aerospace owns 9.9% stake in KAI, followed by Hanwha Systems (4.98%), and Hanwha Aerospace USA (1.01%). </li>
<li>I provide four main scenarios of the potential next moves by the Hanwha Group companies regarding Korea Aerospace Industries. </li>
</ul>


In the past several months, Hanwha Group companies purchased additional shares in Korea Aerospace Industries (KAI) so their combined stake is now 15.89%. 
Hanwha Aerospace owns 9.9% stake in KAI, followed by Hanwha Systems (4.98%), and Hanwha Aerospace USA (1.01%). 
I provide four main scenarios of the potential next moves by the Hanwha Group companies regarding Korea Aerospace Industries. 


Hanwha Aerospace and Other Hanwha Affiliates Now Own 15.9% of KAI - Next Move?

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Sep 25th. The aggregated holding was USD1,755.4bn.</li>
<li>We estimate that foreign flows to be inflows of USD1,304mln. 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 changes of foreign holdings in Samsung Electronics, SK Hynix, SamsungElecMech, SKSQUARE, LG Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Sep 25th. The aggregated holding was USD1,755.4bn.
We estimate that foreign flows to be inflows of USD1,304mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Samsung Electronics, SK Hynix, SamsungElecMech, SKSQUARE, LG Electronics.


KRX Foreign Holding Weekly (Sep 25th): Samsung Electronics, SK Hynix, SamsungElecMech, SKSQUARE

Cross Asset Strategy

<ul>
<li>We provide the details of the 11 most recent companies in KOSPI that have announced their Corporate Value Up plans (June and July 2025), including their shareholder returns. </li>
<li>These 11 companies experienced a sharp underperformance (from one day prior to their corporate value up announcement to current) versus KOSPI in the past two months.</li>
<li>Among the 11 companies include Doosan Bobcat, Hana Financial, KCC Corp, Orion Corp, Hanmi Semiconductor, Hanwha Aerospace, Hanwha Systems, Kolmar Holdings, Mirae Asset Securities, and KDHC. </li>
</ul>


We provide the details of the 11 most recent companies in KOSPI that have announced their Corporate Value Up plans (June and July 2025), including their shareholder returns. 
These 11 companies experienced a sharp underperformance (from one day prior to their corporate value up announcement to current) versus KOSPI in the past two months.
Among the 11 companies include Doosan Bobcat, Hana Financial, KCC Corp, Orion Corp, Hanmi Semiconductor, Hanwha Aerospace, Hanwha Systems, Kolmar Holdings, Mirae Asset Securities, and KDHC. 


Korea Value Up Plans Announcements by Companies in KOSPI in June and July 2025

<ul>
<li>In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (20 June to 4 July 2025).</li>
<li>Kakaopay was the best performing stock in KOSPI in the past two weeks. It could be a key potential beneficiary of the increased use of stablecoin based system in Korea.</li>
<li>The top 10 picks in this bi-weekly include S&amp;T Holdings, Samsung Life Insurance, Samsung SDS, Samsung Securities, Hyundai Elevator, SK Hynix, Paradise, Hanwha System, Hanwha Aerospace, and Korea Kolmar. </li>
</ul>


In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (20 June to 4 July 2025).
Kakaopay was the best performing stock in KOSPI in the past two weeks. It could be a key potential beneficiary of the increased use of stablecoin based system in Korea.
The top 10 picks in this bi-weekly include S&amp;T Holdings, Samsung Life Insurance, Samsung SDS, Samsung Securities, Hyundai Elevator, SK Hynix, Paradise, Hanwha System, Hanwha Aerospace, and Korea Kolmar. 


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (20 June to 4 July 2025)

Thematic (Sector/Industry)

<ul>
<li>The heightened political conflict between Russia and Ukraine which could lead to a more deadly military conflict has been impacting many defense related stocks in Korea this year.</li>
<li>A big concern is that this conflict could result in greater political outbursts around the world including between Taiwan &amp; China and South Korea &amp; North Korea.</li>
<li>The continued political conflict between Russia and Ukraine which could lead to further military conflict could lead to further outperformance of Korean defense stocks in the coming weeks. </li>
</ul>


The heightened political conflict between Russia and Ukraine which could lead to a more deadly military conflict has been impacting many defense related stocks in Korea this year.
A big concern is that this conflict could result in greater political outbursts around the world including between Taiwan &amp; China and South Korea &amp; North Korea.
The continued political conflict between Russia and Ukraine which could lead to further military conflict could lead to further outperformance of Korean defense stocks in the coming weeks. 


Korean Defense Plays Outperforming the Market in Light of Russia-Ukraine Conflict

South Korea

Hanwha Systems Co., Ltd. designs, develops, and distributes high-tech systems for the defense industry. The Company manufactures tactical communication systems, radar systems, naval combat systems, electro-optics, and fire control systems. Hanwha Systems markets its products throughout South Korea.

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Hanwha Systems Co Ltd (272210 KS)

Hanwha Aerospace and Other Hanwha Affiliates Now Own 15.9% of KAI - Next Move?

In the past several months, Hanwha Group companies purchased additional shares in Korea Aerospace Industries (KAI) so their combined stake is now...

Douglas Kim

KRX Foreign Holding Weekly (Sep 25th): Samsung Electronics, SK Hynix, SamsungElecMech, SKSQUARE

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsung Electronics, SK Hynix, SamsungElecMech,...

Ke Yan, CFA, FRM

Korea Value Up Plans Announcements by Companies in KOSPI in June and July 2025

We provide the details of the 11 most recent companies in KOSPI that have announced their Corporate Value Up plans (June and July 2025), including...

Douglas Kim

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (20 June to 4 July 2025)

Top 10 picks in this bi-weekly include S&T Holdings, Samsung Life Insurance, Samsung SDS, Samsung Securities, Hyundai Elevator, SK Hynix, Paradise,...

Douglas Kim

Korean Defense Plays Outperforming the Market in Light of Russia-Ukraine Conflict

Amid the outbreak of a new war in Israel, there is likely to be increased capital inflow into global military/aerospace stocks. This insight...

Douglas Kim

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