Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>They’re making it easier to spot stocks benefiting from policy shifts. Lee Jae-myung’s camp is giving more detail upfront, with a focus on FuriosaAI and related listed stocks.</li>
<li>If cumulative voting passes, expect a pop in stocks with governance issues, activist interest, or large NPS stakes, like Hyosung affiliates, Doosan, HL Mando, and POSCO Holdings.</li>
<li>They also aim to give parent shareholders first crack at spun-off subsidiaries going public and require buyback cancellations, likely benefiting SK and LS Group affiliates, Samsung Electronics, and POSCO Holdings.</li>
</ul>


They’re making it easier to spot stocks benefiting from policy shifts. Lee Jae-myung’s camp is giving more detail upfront, with a focus on FuriosaAI and related listed stocks.
If cumulative voting passes, expect a pop in stocks with governance issues, activist interest, or large NPS stakes, like Hyosung affiliates, Doosan, HL Mando, and POSCO Holdings.
They also aim to give parent shareholders first crack at spun-off subsidiaries going public and require buyback cancellations, likely benefiting SK and LS Group affiliates, Samsung Electronics, and POSCO Holdings.


Lee Jae-Myung’s Camp Just Dropped Their Latest Market Stimulus Play

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Capital Markets

<ul>
<li>Simultaneous to the IPO of Essex Solutions, LS Corp is also pushing to reforms that would allocate IPO shares of Essex Solutions to the existing shareholders of LS Corp.</li>
<li>Although this has not been formally approved by the Korean financial authorities, we believe there is a high probability of being approved. </li>
<li>Overall, we believe this is likely to positively impact LS Corp in the coming weeks. </li>
</ul>


Simultaneous to the IPO of Essex Solutions, LS Corp is also pushing to reforms that would allocate IPO shares of Essex Solutions to the existing shareholders of LS Corp.
Although this has not been formally approved by the Korean financial authorities, we believe there is a high probability of being approved. 
Overall, we believe this is likely to positively impact LS Corp in the coming weeks. 


LS Corp - Pushing to Allocate IPO Shares of Essex Solutions to Existing LS Corp Shareholders

<ul>
<li>It was reported that various members of the LS Group family/relatives sold a 6.3% stake in LS Eco Energy Ltd (229640 KS) for about 70 billion won in after-hours trading.</li>
<li>There is an increasing probability that this could lead to these insiders purchasing more shares of LS Corp to defend their controlling stake of the company from the Hoban Group.</li>
<li>Hoban Group is likely to have acquired more than 3% stake in LS Corp. If so, it can request to inspect LS Corp's books and convene a shareholders' meeting.</li>
</ul>


It was reported that various members of the LS Group family/relatives sold a 6.3% stake in LS Eco Energy Ltd (229640 KS) for about 70 billion won in after-hours trading.
There is an increasing probability that this could lead to these insiders purchasing more shares of LS Corp to defend their controlling stake of the company from the Hoban Group.
Hoban Group is likely to have acquired more than 3% stake in LS Corp. If so, it can request to inspect LS Corp's books and convene a shareholders' meeting.


LS Group Family Members Sold a 6.3% Stake in LS Ecoenergy - To Buy More Shares of LS Corp?

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We remain near-term bullish since 4/22/25, we continue to believe SPX and ACWI-US likely bottomed at 4800-4820 and $101-$102 (May 13, 2025 report), and our intermediate-term outlook remains bullish also.</li>
<li>We'll maintain our bullish view as long as dynamics remain healthy and SPX and ACWI-US are above 5500 and $115, but we do not expect these levels to be tested.</li>
<li>We expect 5700-5785 on SPX and $120-$121 on ACWI-US to hold as support; considering the historic run up, don't be surprised to see another week or two of consolidation.</li>
</ul>


We remain near-term bullish since 4/22/25, we continue to believe SPX and ACWI-US likely bottomed at 4800-4820 and $101-$102 (May 13, 2025 report), and our intermediate-term outlook remains bullish also.
We'll maintain our bullish view as long as dynamics remain healthy and SPX and ACWI-US are above 5500 and $115, but we do not expect these levels to be tested.
We expect 5700-5785 on SPX and $120-$121 on ACWI-US to hold as support; considering the historic run up, don't be surprised to see another week or two of consolidation.


MSCI ACWI Coiling Under All-Time Highs; Buying Korean Financials; Monitoring Europe for Downgrade

Index Rebalance

<ul>
<li>KODEX AI Electric Power Core Facilities ETF (487240 KS) had a market cap of 3.2 trillion won as of 11 September 2026, up 104% in the past one year. </li>
<li>In this insight, I discuss the impact of rebalance of the iSelect AI Power Core Equipment Index in December 2026 which impacts the KODEX AI Electric Power Core Facilities ETF. </li>
<li>Seojin System and GnCEnergy are two potential inclusion candidates. LS Marine Solution, LS Eco Energy, and Cheryong Electric are potential exclusion candidates. </li>
</ul>


KODEX AI Electric Power Core Facilities ETF (487240 KS) had a market cap of 3.2 trillion won as of 11 September 2026, up 104% in the past one year. 
In this insight, I discuss the impact of rebalance of the iSelect AI Power Core Equipment Index in December 2026 which impacts the KODEX AI Electric Power Core Facilities ETF. 
Seojin System and GnCEnergy are two potential inclusion candidates. LS Marine Solution, LS Eco Energy, and Cheryong Electric are potential exclusion candidates. 


KODEX AI Electric Power Core Facilities ETF Rebalance in December 2026

South Korea

LS Corp is a holding company, which operated subsidiaries including LS Industrial Systems, LS Cable, LS-Nikko Copper and LS Mtron.

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LS Corp (006260 KS)

Lee Jae-Myung’s Camp Just Dropped Their Latest Market Stimulus Play

Lee admin just dropped the Commercial Act revamp timeline — full fast-track mode. All key items are in: fiduciary duty shift to shareholders, e...

Sanghyun Park

LS Corp - Pushing to Allocate IPO Shares of Essex Solutions to Existing LS Corp Shareholders

Simultaneous to the IPO of Essex Solutions, LS Corp is also pushing to reforms that would allocate IPO shares of Essex Solutions to the existing...

Douglas Kim

LS Group Family Members Sold a 6.3% Stake in LS Ecoenergy - To Buy More Shares of LS Corp?

It was reported today that various members of the LS Group family/relatives sold a 6.3% stake in LS Eco Energy Ltd (229640 KS) for about 70 billion...

Douglas Kim

MSCI ACWI Coiling Under All-Time Highs; Buying Korean Financials; Monitoring Europe for Downgrade

MSCI $ACWI Coiling Under All-Time Highs; Monitoring Europe for Downgrade; Buying Korean Financials $WF $SHG $KB and Hana. Still Bullish, expecting...

Vermilion Research

KODEX AI Electric Power Core Facilities ETF Rebalance in December 2026

In this insight, I discuss the impact of rebalance of the iSelect AI Power Core Equipment Index in December 2026 which impacts the KODEX AI...

Douglas Kim

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