Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

Nong Shim Holdings Co., Ltd. / Equity Bottom-Up

<ul>
<li>Nong Shim Holdings Co., Ltd. (072710 KS) is part of our top 10 picks in our latest Korea Top 10 Picks Bi-Weekly.</li>
<li>Despite the recent share price appreciation, Nongshim Holdings' price remains undervalued. Our NAV analysis suggests an implied price of 161,564 won per share which is 40% higher than current levels.</li>
<li>Nongshim Holdings' 32.7% stake in Nongshim is the largest component of the value (1 trillion won) which is nearly twice as high as Nongshim Holdings' current market cap.</li>
</ul>


Nong Shim Holdings Co., Ltd. (072710 KS) is part of our top 10 picks in our latest Korea Top 10 Picks Bi-Weekly.
Despite the recent share price appreciation, Nongshim Holdings' price remains undervalued. Our NAV analysis suggests an implied price of 161,564 won per share which is 40% higher than current levels.
Nongshim Holdings' 32.7% stake in Nongshim is the largest component of the value (1 trillion won) which is nearly twice as high as Nongshim Holdings' current market cap.


Nongshim Holdings: NAV Valuation Analysis

Samsung Life Insurance / Equity Bottom-Up

<ul>
<li>In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (12 to 26 September 2025).</li>
<li>Our top 10 picks were up on average 7.4% from 29 August to 12 September, outperforming KOSPI which was up 6.6% in the same period.</li>
<li>Top 10 picks in this bi-weekly include KCC Corp, Nongshim Holdings, KT&amp;G, Paradise, Samsung Life Insurance, Hana Financial, SK Inc, CJ Corp, Lg Chem, and Lotte Tour Development.</li>
</ul>


In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (12 to 26 September 2025).
Our top 10 picks were up on average 7.4% from 29 August to 12 September, outperforming KOSPI which was up 6.6% in the same period.
Top 10 picks in this bi-weekly include KCC Corp, Nongshim Holdings, KT&amp;G, Paradise, Samsung Life Insurance, Hana Financial, SK Inc, CJ Corp, Lg Chem, and Lotte Tour Development.


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (12 to 26 September 2025)

<ul>
<li>K-Pop Demon Hunters (KDH) started streaming on Netflix on 20 June 2025. KDH has become the most watched film on Netflix history, achieving 291.5 million views as of 11 September. </li>
<li>Nongshim has a collaboration with Netflix, releasing ramyun and snacks featuring characters from K-Pop Demon Hunters. The sale of these products (especially overseas) are likely to result in higher sales.</li>
<li>Nongshim has hit a big home run in this collaboration with Netflix and the K-Pop Demon Hunters film. Additional series related to KDH are highly likely. </li>
</ul>


K-Pop Demon Hunters (KDH) started streaming on Netflix on 20 June 2025. KDH has become the most watched film on Netflix history, achieving 291.5 million views as of 11 September. 
Nongshim has a collaboration with Netflix, releasing ramyun and snacks featuring characters from K-Pop Demon Hunters. The sale of these products (especially overseas) are likely to result in higher sales.
Nongshim has hit a big home run in this collaboration with Netflix and the K-Pop Demon Hunters film. Additional series related to KDH are highly likely. 


Nongshim's Thriving Collaboration with K-Pop Demon Hunters

<ul>
<li>In this insight, we provide 3 major fundamental criteria for screening major Korean F&amp;B companies. </li>
<li>Three major criteria include 3 years CAGR revenue growth of 5% or more, increase in net margin in 2024, and overseas sales more than 10% of total sales.</li>
<li>Of the 30 Korean F&amp;B companies mentioned in this insight, only six companies meet these criteria including Samyang Foods, Orion Corp, Hitejinro, Lotte Wellfood, Daesang Corporation, and Pulmuone.</li>
</ul>


In this insight, we provide 3 major fundamental criteria for screening major Korean F&amp;B companies. 
Three major criteria include 3 years CAGR revenue growth of 5% or more, increase in net margin in 2024, and overseas sales more than 10% of total sales.
Of the 30 Korean F&amp;B companies mentioned in this insight, only six companies meet these criteria including Samyang Foods, Orion Corp, Hitejinro, Lotte Wellfood, Daesang Corporation, and Pulmuone.


Korean F&B: Focus on Companies With Strongest Export Growth

<ul>
<li>In this insight, we discuss 20 Korean stocks that could outperform the market in the next two months amid global tariff war and local political turmoil.</li>
<li>Going forward, we believe these 20 Korean stocks could continue to outperform the market in the next couple of months. </li>
<li>As the market tries to digest further the uncertainties due to tariff war and the local Presidential election, these 20 stocks could provide sound defensive outperformance. </li>
</ul>


In this insight, we discuss 20 Korean stocks that could outperform the market in the next two months amid global tariff war and local political turmoil.
Going forward, we believe these 20 Korean stocks could continue to outperform the market in the next couple of months. 
As the market tries to digest further the uncertainties due to tariff war and the local Presidential election, these 20 stocks could provide sound defensive outperformance. 


20 Korean Stocks That Could Outperform Next 2 Months Amid Tariff War and Local Political Turmoil

South Korea

Nongshim Co., Ltd. manufactures, and markets instant noodles, snacks, and beverages.  The Company also produces refined palm oil and food ingredients.

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Nongshim Co Ltd (004370 KS)

Nongshim Holdings: NAV Valuation Analysis

Despite the recent share price appreciation, Nongshim Holdings' price remains undervalued. Our NAV analysis suggests an implied price of 161,564...

Douglas Kim

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (12 to 26 September 2025)

Top 10 picks in this bi-weekly include KCC Corp, Nongshim Holdings, KT&G, Paradise, Samsung Life Insurance, Hana Financial, SK Inc, CJ Corp, Lg...

Douglas Kim

Nongshim's Thriving Collaboration with K-Pop Demon Hunters

Nongshim has hit a big home run in this collaboration with Netflix and the K-Pop Demon Hunters film, which has now become the most watched film in...

Douglas Kim

Korean F&B: Focus on Companies With Strongest Export Growth

We provide 3 fundamental criteria for screening Korean F&B companies including 3-years CAGR revenue growth of 5% or more, higher net margin in...

Douglas Kim

20 Korean Stocks That Could Outperform Next 2 Months Amid Tariff War and Local Political Turmoil

In this insight, we discuss 20 Korean stocks that could outperform the market in the next two months amid global tariff war and local political...

Douglas Kim

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