Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>One of the big thematic events on the Korean stock market has been the expectation that China could lift ban on Korean popular culture (Hallyu) as early as May 2025. </li>
<li>China's President Xi recently stated "Cultural exchanges are a valuable part of our bilateral relations [between China and Korea]. We should avoid any problems occurring in handling such matters.” 
</li>
<li>We provide a list of 40 stocks in Korea that could most benefit from the end of lifting ban of Korean popular culture. </li>
</ul>


One of the big thematic events on the Korean stock market has been the expectation that China could lift ban on Korean popular culture (Hallyu) as early as May 2025. 
China's President Xi recently stated "Cultural exchanges are a valuable part of our bilateral relations [between China and Korea]. We should avoid any problems occurring in handling such matters.” 

We provide a list of 40 stocks in Korea that could most benefit from the end of lifting ban of Korean popular culture. 


China Could Lift Ban on Korean Popular Culture (Hallyu) As Early As May 2025

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 20th which has an aggregated short interest worth USD5.0bn.</li>
<li>We tabulate league table 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 Samsung Electronics, KB Financial, Shinhan Group, Posco.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Sep 20th which has an aggregated short interest worth USD5.0bn.
We tabulate league table 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 Samsung Electronics, KB Financial, Shinhan Group, Posco.


KRX Short Interest Weekly (Sep 20th): Samsung Electronics, KB Financial, Shinhan Group, Posco

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Aug 2nd which has an aggregated short interest worth USD5.4bn.</li>
<li>We tabulate league table 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 Sk Hynix, Korea Aerospace, Posco.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 2nd which has an aggregated short interest worth USD5.4bn.
We tabulate league table 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 Sk Hynix, Korea Aerospace, Posco.


KRX Short Interest Weekly (Aug 2nd): Sk Hynix, Korea Aerospace, Posco

<ul>
<li>We analyzed the changes in short interest of KRX Stocks as of Apr 19th which has an aggregated short interest worth USD6.6bn.</li>
<li>We tabulate league table 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 estimate the short interests to be USD 6.6bn and highlight short interest changes in Samsung Electronics.</li>
</ul>


We analyzed the changes in short interest of KRX Stocks as of Apr 19th which has an aggregated short interest worth USD6.6bn.
We tabulate league table 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 estimate the short interests to be USD 6.6bn and highlight short interest changes in Samsung Electronics.


KRX Short Interest Weekly (Apr 19th): Samsung Electronics

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Hyundai Home Shopping Network / Event-Driven

<ul>
<li>Yesterday, the 3rd April, <a href="https://www.smartkarma.com/entities/hyundai-g-f-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:19560:1" rel="noopener">Hyundai G.F. Holdings (005440 KS)</a> <a href="https://n.news.naver.com/mnews/article/030/0003194952" target="_blank" rel="noopener">announced</a> it would conduct a Tender Offer for 3mn shares, or 25% of <a href="https://www.smartkarma.com/entities/hyundai-home-shopping-network-corp" target="_blank" data-smartkarma-citation="entities:2357:1" rel="noopener">Hyundai Home Shopping Network (057050 KS)</a> (HHSN).</li>
<li>A successful Tender would lift Holdings stake to 50% from 25% currently, satisfying the <a href="https://www.businesskorea.co.kr/news/articleView.html?idxno=55003" target="_blank" rel="noopener">30% holding company threshold</a> introduced in 2022.</li>
<li>Minimum proration is 33%. Shares popped 13.8% on the news. That looks a bit too aggressive. </li>
</ul>


Yesterday, the 3rd April, Hyundai G.F. Holdings (005440 KS) announced it would conduct a Tender Offer for 3mn shares, or 25% of Hyundai Home Shopping Network (057050 KS) (HHSN).
A successful Tender would lift Holdings stake to 50% from 25% currently, satisfying the 30% holding company threshold introduced in 2022.
Minimum proration is 33%. Shares popped 13.8% on the news. That looks a bit too aggressive. 


Hyundai Home Shopping (057050 KS)'s Partial Offer

South Korea

Hyundai Department Store Co., Ltd. operates department stores under the name of Hyundai Department over nationwide.  The Company also produces home shopping programs for cable channels and sells merchandise through home shopping programs.

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Hyundai Dept Store Co (069960 KS)

China Could Lift Ban on Korean Popular Culture (Hallyu) As Early As May 2025

One of the big thematic events that have impacted the Korean stock market this week has been the expectation that China could lift ban on Korean...

Douglas Kim

KRX Short Interest Weekly (Sep 20th): Samsung Electronics, KB Financial, Shinhan Group, Posco

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Electronics, KB Financial, Shinhan Group,...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Aug 2nd): Sk Hynix, Korea Aerospace, Posco

We analyzed KRX short interest report for the past week and highlighted short interest changes in Sk Hynix, Korea Aerospace, Posco.

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Apr 19th): Samsung Electronics

We analyzed KRX short interest report for the past week. We estimate the short interests to be USD 6.6bn and highlighted short interest changes in...

Ke Yan, CFA, FRM

Hyundai Home Shopping (057050 KS)'s Partial Offer

HHSN is not particularly liquid, trading ~US$1mn/day. Unless you believe pro-ration to be materially higher than 65%, I'd be disinclined to enter...

David Blennerhassett

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52-week Range

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