External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

Equity Bottom-Up

<ul><li>We raise our target price for Korean Re to W14,000 (W12,600), which corresponds to a 2026F target dividend yield of 5% (unchanged) based on our DPS estimate of W700 (vs. W630 previously).</li><li>In its previous “value-up” disclosure, the company stated that it planned to increase dividends with the aim of meeting the requirements for separate taxation of dividend income.</li><li>We believe this goal is achievable, as we see no constraints on dividend capacity arising from surrender value reserves. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We raise our target price for Korean Re to W14,000 (W12,600), which corresponds to a 2026F target dividend yield of 5% (unchanged) based on our DPS estimate of W700 (vs. W630 previously).In its previous “value-up” disclosure, the company stated that it planned to increase dividends with the aim of meeting the requirements for separate taxation of dividend income.We believe this goal is achievable, as we see no constraints on dividend capacity arising from surrender value reserves. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Korean Re (003690 KS/Hold)Strong Earnings Raise Dividend Expectations

South Korea

Korean Reinsurance Company is a reinsurer which underwrites life and non-life insurance.  The Company's products include life, fire, marine, auto, casualty, guarantee, pension, long-term, and foreign reinsurance.

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Korean Reinsurance Co (003690 KS)

Korean Re (003690 KS/Hold)Strong Earnings Raise Dividend Expectations

We raise our target price for Korean Re to W14,000 (W12,600), which corresponds to a 2026F target dividend yield of 5% (unchanged) based on our DPS...

Mirae Asset Securities

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