Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>Hanwha Asset Management has launched the process of listing the PLUS Korea Manufacturing Core Alliance (KMCA) Index ETF on the NYSE in 1H 2026.</li>
<li>KMCA ETF will includes companies in six core sectors: 1) AI semiconductors, 2) batteries, 3) shipbuilding, 4), defense, 5) power grids and nuclear energy, and 6) robots and humanoids.</li>
<li>This is likely to attract additional foreign capital into Korean stocks in the coming months. </li>
</ul>


Hanwha Asset Management has launched the process of listing the PLUS Korea Manufacturing Core Alliance (KMCA) Index ETF on the NYSE in 1H 2026.
KMCA ETF will includes companies in six core sectors: 1) AI semiconductors, 2) batteries, 3) shipbuilding, 4), defense, 5) power grids and nuclear energy, and 6) robots and humanoids.
This is likely to attract additional foreign capital into Korean stocks in the coming months. 


Hanwha Asset Mgmt Launching the PLUS Korea Manufacturing Core Alliance Index ETF (KMCA) On NYSE

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

Thematic (Sector/Industry)

<ul><li>The power equipment industry is entering a supercycle.</li><li>Driven by surging power demand from data centers, new capacity additions are accelerating across large-scale nuclear power plants, SMRs, and gas turbines.</li><li>The US Department of Energy is pushing for an emergency power auction that could pave the way for the construction of new power plants worth around US$15bn. </li></ul>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.

The power equipment industry is entering a supercycle.Driven by surging power demand from data centers, new capacity additions are accelerating across large-scale nuclear power plants, SMRs, and gas turbines.The US Department of Energy is pushing for an emergency power auction that could pave the way for the construction of new power plants worth around US$15bn. 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.

Mirae Asset Minutes [2026: Volume 2]Biweekly Strategy Meeting Recap

<ul><li>Momentum from robotics and autonomous driving remains intact.</li><li>Hyundai Motor Group (HMG) is set to announce its AI robotics strategy on Jan. 6 and is expected to appoint an advanced vehicle platform division head in 1Q26.</li><li>In addition, a software-defined vehicle (SDV) prototype is set to be showcased in 3Q26. </li></ul>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.

Momentum from robotics and autonomous driving remains intact.Hyundai Motor Group (HMG) is set to announce its AI robotics strategy on Jan. 6 and is expected to appoint an advanced vehicle platform division head in 1Q26.In addition, a software-defined vehicle (SDV) prototype is set to be showcased in 3Q26. 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.

Mirae Asset Minutes [2026: Volume 1]Biweekly strategy meeting recap

Equity Bottom-Up

<ul>
<li>In this insight, I highlight the recent pricing gap divergences of the major Korean holdcos and opcos which could provide trading opportunities in 4Q 2026.</li>
<li>I provide five holdco/opco pairs that have experienced noticeable divergence in the past three months and closing of their gaps could occur in the next several weeks.</li>
<li>Of the 38 pairs, six of them are near or more than 2 standard deviations (in terms of their changing share price movements in the past three months).</li>
</ul>


In this insight, I highlight the recent pricing gap divergences of the major Korean holdcos and opcos which could provide trading opportunities in 4Q 2026.
I provide five holdco/opco pairs that have experienced noticeable divergence in the past three months and closing of their gaps could occur in the next several weeks.
Of the 38 pairs, six of them are near or more than 2 standard deviations (in terms of their changing share price movements in the past three months).


Korean Holdcos Vs Opcos Gap Trading Opportunities in 4Q 2026

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 short interest of KRX stocks as of Sep 25th. The aggregated short interest was USD18.7bn.</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 SIMMTECH, HANWHA SYSTEMS, LG Electronics, Doosan Enerbility, HyundaiEng&amp;Const.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Sep 25th. The aggregated short interest was USD18.7bn.
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 SIMMTECH, HANWHA SYSTEMS, LG Electronics, Doosan Enerbility, HyundaiEng&amp;Const.


KRX Short Interest Weekly (Sep 25th): SIMMTECH, HANWHA SYSTEMS, LG Electronics, Doosan Enerbility

South Korea

LG Energy Solution produces and sells batteries. The Company manufactures and sells automobile batteries, small batteries, energy storage system batteries, and other products. LG Energy Solution markets its products worldwide.

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LG Energy Solution (373220 KS)

Hanwha Asset Mgmt Launching the PLUS Korea Manufacturing Core Alliance Index ETF (KMCA) On NYSE

Hanwha Asset Management has launched the process of listing the PLUS Korea Manufacturing Core Alliance (KMCA) Index ETF on the NYSE in 1H 2026.

Douglas Kim

Mirae Asset Minutes [2026: Volume 2]Biweekly Strategy Meeting Recap

Driven by surging power demand from data centers, new capacity additions are accelerating across large-scale nuclear power plants, SMRs, and gas...

Mirae Asset Securities

Mirae Asset Minutes [2026: Volume 1]Biweekly strategy meeting recap

Hyundai Motor Group (HMG) is set to announce its AI robotics strategy on Jan. 6 and is expected to appoint an advanced vehicle platform division...

Mirae Asset Securities

Korean Holdcos Vs Opcos Gap Trading Opportunities in 4Q 2026

In this insight, I highlight the recent pricing gap divergences of the major Korean holdcos and opcos which could provide trading opportunities in...

Douglas Kim

KRX Short Interest Weekly (Sep 25th): SIMMTECH, HANWHA SYSTEMS, LG Electronics, Doosan Enerbility

We analyzed KRX short interest report for the past week and highlighted short interest changes in SIMMTECH, HANWHA SYSTEMS, LG Electronics, Doosan...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

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