Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<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

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

DZT Research

DZT 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 Jul 4th. The aggregated holding was USD622.6bn.</li>
<li>We estimate that foreign flows to be outflows of USD704mln. We tabulates 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, Naver, Hyundai Rotem.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jul 4th. The aggregated holding was USD622.6bn.
We estimate that foreign flows to be outflows of USD704mln. We tabulates 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, Naver, Hyundai Rotem.


KRX Foreign Holding Weekly (Jul 4th): Samsung Electronics, SK Hynix, Naver, Hyundai Rotem

<ul>
<li>In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (4 to 18 July 2025).</li>
<li>
<a href="https://www.smartkarma.com/entities/korea-electric-power-corporation-kepco" target="_blank" data-smartkarma-citation="entities:16:1" rel="noopener">Korea Electric Power (KEPCO) (015760 KS)</a> was the best performing stock among the top 100 stocks in KOSPI in the past two weeks. </li>
<li>The top 10 picks in this bi-weekly include LG Uplus, KCC, SK Hynix, Naver, Korea Kolmar, Korea Investment Holdings, Misto Holdings, Lotte Tour Development, LG Chem, and SK Inc.</li>
</ul>


In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (4 to 18 July 2025).

Korea Electric Power (KEPCO) (015760 KS) was the best performing stock among the top 100 stocks in KOSPI in the past two weeks. 
The top 10 picks in this bi-weekly include LG Uplus, KCC, SK Hynix, Naver, Korea Kolmar, Korea Investment Holdings, Misto Holdings, Lotte Tour Development, LG Chem, and SK Inc.


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (4 to 18 July 2025)

<ul>
<li>On 2 July, Cosmecca Korea (241710 KS) announced that it plans to switch its listing from KOSDAQ to KOSPI. Cosmecca Korea is the third largest cosmetics ODM company in Korea.</li>
<li>Cosmecca Korea's ROE is similar to the average ROE of the comps. However, Cosmecca Korea's P/B valuation is 36% discount to that of the comps.</li>
<li>By switching its listing from KOSDAQ to KOSPI, there is an increasing probability of the Cosmecca Korea receiving higher valuations, narrowing the gap with its peers. </li>
</ul>


On 2 July, Cosmecca Korea (241710 KS) announced that it plans to switch its listing from KOSDAQ to KOSPI. Cosmecca Korea is the third largest cosmetics ODM company in Korea.
Cosmecca Korea's ROE is similar to the average ROE of the comps. However, Cosmecca Korea's P/B valuation is 36% discount to that of the comps.
By switching its listing from KOSDAQ to KOSPI, there is an increasing probability of the Cosmecca Korea receiving higher valuations, narrowing the gap with its peers. 


Cosmecca Korea: Switching Listing from KOSDAQ to KOSPI Likely to Be Completed in 2H 2025

<ul>
<li>In the next several weeks, the South Korean government is likely to provide details of a no visa policy for group tour visitors from China to South Korea.</li>
<li>We provide a list of top 15 Korean companies that could benefit from potential no visa policy for group tour visitors from China to South Korea. </li>
<li>These 15 companies' share prices are up on average 49.2% YTD, sharply outperforming KOSPI and KOSDAQ that are up 21.2% and 15.9%, respectively YTD.</li>
</ul>


In the next several weeks, the South Korean government is likely to provide details of a no visa policy for group tour visitors from China to South Korea.
We provide a list of top 15 Korean companies that could benefit from potential no visa policy for group tour visitors from China to South Korea. 
These 15 companies' share prices are up on average 49.2% YTD, sharply outperforming KOSPI and KOSDAQ that are up 21.2% and 15.9%, respectively YTD.


No Visa For Group Tour Visitors from China to South Korea Likely Starting 3Q 2025

South Korea

Kolmar Korea Co., Ltd. manufactures and distributes personal care products. The Company produces cosmetics. Kolmar Korea also produces medicine and healthcare products.

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Kolmar Korea (161890 KS)

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

KRX Foreign Holding Weekly (Jul 4th): Samsung Electronics, SK Hynix, Naver, Hyundai Rotem

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

Ke Yan, CFA, FRM

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (4 to 18 July 2025)

The top 10 picks in this bi-weekly include LG Uplus, KCC, SK Hynix, Naver, Korea Kolmar, Korea Investment Holdings, Misto Holdings, Lotte Tour...

Douglas Kim

Cosmecca Korea: Switching Listing from KOSDAQ to KOSPI Likely to Be Completed in 2H 2025

On 2 July, Cosmecca Korea (241710 KS) announced that it plans to switch its listing from KOSDAQ to KOSPI. Cosmecca Korea is the third largest...

Douglas Kim

No Visa For Group Tour Visitors from China to South Korea Likely Starting 3Q 2025

In the next several weeks, the South Korean government is likely to provide details of a no visa policy for group tour visitors from China to South...

Douglas Kim

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