Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>In this analysis, we provide a back testing analysis of the end of mandatory lock-up periods monthly data in Korea in the past six months.</li>
<li>All in all, this end of mandatory lock-up period monthly data continues to provide some alpha generating results.</li>
<li>In the past six months, they have tended to work better in periods when KOSPI declines rather than in periods when KOSPI rises. </li>
</ul>


In this analysis, we provide a back testing analysis of the end of mandatory lock-up periods monthly data in Korea in the past six months.
All in all, this end of mandatory lock-up period monthly data continues to provide some alpha generating results.
In the past six months, they have tended to work better in periods when KOSPI declines rather than in periods when KOSPI rises. 


Back Testing the End of Mandatory Lock-Up Periods Monthly Data in Korea

<ul>
<li>We discuss the end of the mandatory lock-up periods for 53 stocks in Korea in December 2023, among which 6 are in KOSPI and 47 are in KOSDAQ.</li>
<li>These 53 stocks on average could be subject to further selling pressures in December and could underperform relative to the market.</li>
<li>Among these 53 stocks, top five market cap stocks include Doosan Robotics, Studio Dragon, Asicland, Manyo Factory, and Curocell. </li>
</ul>


We discuss the end of the mandatory lock-up periods for 53 stocks in Korea in December 2023, among which 6 are in KOSPI and 47 are in KOSDAQ.
These 53 stocks on average could be subject to further selling pressures in December and could underperform relative to the market.
Among these 53 stocks, top five market cap stocks include Doosan Robotics, Studio Dragon, Asicland, Manyo Factory, and Curocell. 


End of Mandatory Lock-Up Periods for 53 Companies in Korea in December 2023

Equity Bottom-Up

<ul>
<li>Sephora recently announced that 19 OLIVE YOUNG curated Korean cosmetic brands will become available at 500+ Sephora stores in the U.S. and at Sephora.com.</li>
<li>Unlike the semiconductor sector where the industry cyclicality is highly volatile, the global consumers' preference for Korean cosmetics could well last much longer for the next 3-5 years. </li>
<li>Korean cosmetics exports reached a record high of $7.0 billion in 1H 2026, up 27.3% YoY. The primary export destinations were the US at $1.45 billion (up 41.5% YoY).</li>
</ul>


Sephora recently announced that 19 OLIVE YOUNG curated Korean cosmetic brands will become available at 500+ Sephora stores in the U.S. and at Sephora.com.
Unlike the semiconductor sector where the industry cyclicality is highly volatile, the global consumers' preference for Korean cosmetics could well last much longer for the next 3-5 years. 
Korean cosmetics exports reached a record high of $7.0 billion in 1H 2026, up 27.3% YoY. The primary export destinations were the US at $1.45 billion (up 41.5% YoY).


Olive Young Partners With Sephora to Target 500+ Stores With 19 Curated Korean Cosmetic Brands

<ul>
<li><em><strong>The launch of the first CJ Olive Young cosmetics stores in Pasadena, California, could serve as a positive catalyst for the Korean cosmetics industry/CJ Corp for two key reasons. </strong></em></li>
<li>First, nearly 80%+ of the cosmetic brands that are sold at the Olive Young stores will be Korean cosmetic brands (especially from SMEs).</li>
<li>Second, CJ Corp owns a 51.2% of CJ Olive Young. A successful expansion of Olive Young stores in the U.S. will have a major positive impact on CJ Corp. </li>
</ul>


The launch of the first CJ Olive Young cosmetics stores in Pasadena, California, could serve as a positive catalyst for the Korean cosmetics industry/CJ Corp for two key reasons. 
First, nearly 80%+ of the cosmetic brands that are sold at the Olive Young stores will be Korean cosmetic brands (especially from SMEs).
Second, CJ Corp owns a 51.2% of CJ Olive Young. A successful expansion of Olive Young stores in the U.S. will have a major positive impact on CJ Corp. 


Launch of the First CJ Olive Young Cosmetics Store in Pasadena, CA - Why Is This A Key Catalyst?

Event-Driven

<ul>
<li>In this insight, we discuss the potential KOSDAQ150 rebalance candidates in June 2024.</li>
<li>The following companies are likely candidates to be included in KOSDAQ150 rebalance in June 2024, including LS Materials, Gigavis, and Cafe24 Corp. </li>
<li>We also provide a list of 10 companies that are potential exclusion candidates from KOSDAQ150 rebalance in June 2024.</li>
</ul>


In this insight, we discuss the potential KOSDAQ150 rebalance candidates in June 2024.
The following companies are likely candidates to be included in KOSDAQ150 rebalance in June 2024, including LS Materials, Gigavis, and Cafe24 Corp. 
We also provide a list of 10 companies that are potential exclusion candidates from KOSDAQ150 rebalance in June 2024.


An Early Look at the Potential KOSDAQ150 Rebalance Candidates in June 2024

South Korea

Manyo Co., Ltd. manufactures and distributes naturalism and functional skin care products. The Company produces cleansing, ampoule, essence, and other vegan cosmetics. Manyo markets its products throughout South Korea.

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Manyo (439090 KS)

Back Testing the End of Mandatory Lock-Up Periods Monthly Data in Korea

In this analysis, we provide a back testing analysis of the end of mandatory lock-up periods monthly data in Korea in the past six months....

Douglas Kim

End of Mandatory Lock-Up Periods for 53 Companies in Korea in December 2023

We discuss the end of the mandatory lock-up periods for 53 stocks in Korea in December 2023, among which 6 are in KOSPI and 47 are in KOSDAQ.

Douglas Kim

Olive Young Partners With Sephora to Target 500+ Stores With 19 Curated Korean Cosmetic Brands

Recent major partnership between Sephora and CJ Olive Young, the strong export growth of Korean cosmetics in 1H26, and the recent outperformance of...

Douglas Kim

Launch of the First CJ Olive Young Cosmetics Store in Pasadena, CA - Why Is This A Key Catalyst?

The launch of the first CJ Olive Young cosmetics stores in Pasadena, California, could serve as a positive catalyst for the Korean cosmetics...

Douglas Kim

An Early Look at the Potential KOSDAQ150 Rebalance Candidates in June 2024

In this insight, we discuss the potential KOSDAQ150 rebalance candidates in June 2024. Potential inclusion candidates include LS Materials,...

Douglas Kim

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