Managing Director, Who's Good

Jungmin(Charlotte) Hong

Managing Director

ASIA’S FIRST AI-DRIVEN ESG INSIGHT PROVIDER

Who's Good

Using AI technologies and public data, Who’s Good provides objective and up-to-date corporate ESG insights on Asian companies.

WHY WHO'S GOOD

* Time-sensitive: Time is the essence in finance. Artificial Intelligence (AI) can process vast amount of information in a short span of time. Our powerful algorithm offers real-time in-depth corporate ESG analysis with out compromising its quality.
* Objective: We turned to public big data and news big data as source to base our analysis on and to preserve impartiality. We leverage 350 public big data sources and 93 news data sources in Korea to uncover insights.
* Insightful: Who’s Good ESG analysis coverage extends to all listed and non-listed companies in Korea. This allows us to provide a comprehensive insight into the Korean market.
* Global approach to ESG: Our ESG research framework is built on international standards and principles including UN Global Compact, ISO 26000, ICGN and CFA Guidelines on Corporate Governance to meet the global standards.

<ul>
<li>EXO’s Chen, Baekhyun, and Xiumin filed a complaint to the Fair Trade Commission (FTC) on June 4 against SM Entertainment for “abuse of superior bargaining position.”</li>
<li>SM Entertainment repeatedly faced sanctions by the FTC for disputes, including controversy and conflicts with another boy band 'Dong Bang Shin Ki' (TVXQ) </li>
<li>The risk to their working conditions continues to increase, with SM Entertainment’s corporate risk currently standing at 4.2, reaching an extreme level.</li>
</ul>


EXO’s Chen, Baekhyun, and Xiumin filed a complaint to the Fair Trade Commission (FTC) on June 4 against SM Entertainment for “abuse of superior bargaining position.”
SM Entertainment repeatedly faced sanctions by the FTC for disputes, including controversy and conflicts with another boy band 'Dong Bang Shin Ki' (TVXQ) 
The risk to their working conditions continues to increase, with SM Entertainment’s corporate risk currently standing at 4.2, reaching an extreme level.


SM Entertainment: EXO's Contract Controversy and Repeated Working Condition Issues

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Event-Driven

<ul>
<li>In this insight, we provide details of the Lutronic tender offer M&amp;A by Hahn &amp; Company.</li>
<li>We believe that Hahn &amp; Co is likely to successfully complete this M&amp;A tender offer of Lutronic. </li>
<li>In our view, most of the shareholders of Lutronic are likely to tender their shares, given the sharp share price appreciation and reasonable tender offer premium. </li>
</ul>


In this insight, we provide details of the Lutronic tender offer M&amp;A by Hahn &amp; Company.
We believe that Hahn &amp; Co is likely to successfully complete this M&amp;A tender offer of Lutronic. 
In our view, most of the shareholders of Lutronic are likely to tender their shares, given the sharp share price appreciation and reasonable tender offer premium. 


Details of the Lutronic Tender Offer M&A by Hahn & Company

Equity Bottom-Up

<ul>
<li>Despite the enormous demand for Black Pink concerts and the expected launch of the new girl-group band BabyMonster, we believe shares of Yg Entertainment (122870 KS) have overextended this year.</li>
<li>Black Pink remains a fan-favorite group and their contribution to sales and profits are likely to peak this year. Valuations for YG Entertainment is also unattractive.</li>
<li>Although BabyMonster is likely to become popular, the higher probability scenario is for them to fall below expectations. We do not believe BabyMonster could become the next Black Pink. </li>
</ul>


Despite the enormous demand for Black Pink concerts and the expected launch of the new girl-group band BabyMonster, we believe shares of Yg Entertainment (122870 KS) have overextended this year.
Black Pink remains a fan-favorite group and their contribution to sales and profits are likely to peak this year. Valuations for YG Entertainment is also unattractive.
Although BabyMonster is likely to become popular, the higher probability scenario is for them to fall below expectations. We do not believe BabyMonster could become the next Black Pink. 


YG Entertainment: BabyMonster to Become the Next Black Pink?

<ul>
<li>In this insight, we provide the details of Medtronic's M&amp;A and tender offer for Eoflow. </li>
<li>Currently, Eoflow is trading at 28,050 won which is 6.5% lower than the tender offer price of 30,000 won.</li>
<li>Eoflow's share price is currently comfortably below 30,000 won and we believe this deal has 95-98%+ probability of getting completed within the current M&amp;A framework.</li>
</ul>


In this insight, we provide the details of Medtronic's M&amp;A and tender offer for Eoflow. 
Currently, Eoflow is trading at 28,050 won which is 6.5% lower than the tender offer price of 30,000 won.
Eoflow's share price is currently comfortably below 30,000 won and we believe this deal has 95-98%+ probability of getting completed within the current M&amp;A framework.


Medtronic's M&A, Tender Offer, and Taking Private of Eoflow

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>There are 44 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Three new deal was discussed on Smartkarma this past week: <a href="https://www.smartkarma.com/entities/albemarle-corp" target="_blank" data-smartkarma-citation="entities:7678:1" rel="noopener">Albemarle (ALB US)</a>'s <a href="https://www.smartkarma.com/entities/liontown-resources-ltd" target="_blank" data-smartkarma-citation="entities:20488:1" rel="noopener">Liontown Resources (LTR AU)</a> tilt; Malteries Soufflet's <a href="https://www.smartkarma.com/entities/united-malt-group-ltd" target="_blank" data-smartkarma-citation="entities:29116:1" rel="noopener">United Malt (UMG AU)</a> Offer; Bain Capital's <a href="https://www.smartkarma.com/entities/estia-health-ltd" target="_blank" data-smartkarma-citation="entities:77:1" rel="noopener">Estia (EHE AU)</a> Offer. </li>
<li>Key updates took place for <a href="https://www.smartkarma.com/entities/aag-energy-holdings-ltd" target="_blank" data-smartkarma-citation="entities:501:1" rel="noopener">Aag Energy Holdings (2686 HK)</a>, <a href="https://www.smartkarma.com/entities/toyo-construction-co-ltd" target="_blank" data-smartkarma-citation="entities:1176:1" rel="noopener">Toyo Construction (1890 JP)</a>, <a href="https://www.smartkarma.com/entities/toshiba-corp" target="_blank" data-smartkarma-citation="entities:637:1" rel="noopener">Toshiba Corp (6502 JP)</a>, and<a href="https://www.smartkarma.com/entities/united-fiber-system-ltd" target="_blank" data-smartkarma-citation="entities:20826:1" rel="noopener">Golden Energy &amp; Resources (GER SP)</a>.</li>
</ul>


There are 44 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Three new deal was discussed on Smartkarma this past week: Albemarle (ALB US)'s Liontown Resources (LTR AU) tilt; Malteries Soufflet's United Malt (UMG AU) Offer; Bain Capital's Estia (EHE AU) Offer. 
Key updates took place for Aag Energy Holdings (2686 HK), Toyo Construction (1890 JP), Toshiba Corp (6502 JP), andGolden Energy &amp; Resources (GER SP).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Liontown, United Malt, Estia, Mincor, Origin, Toyo, Toshiba

South Korea

S.M.Entertainment Co. plans, produces, promotes, and markets Korean rock and roll music in several formats, such as compact discs (CD), concert tours, television productions, and music videos.  The Company also operates artist management business as well as licensing and copyright business from the company's music records.

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S.M.Entertainment Co (041510 KS)

SM Entertainment: EXO's Contract Controversy and Repeated Working Condition Issues

Let's take a look at the recent ESG issue surrounding SM Entertainment's contract with boy band EXO and similar cases from the past.

Jungmin(Charlotte) Hong

Details of the Lutronic Tender Offer M&A by Hahn & Company

In this insight, we provide details of the Lutronic tender offer M&A by Hahn & Company. We believe that Hahn & Co is likely to successfully...

Douglas Kim

YG Entertainment: BabyMonster to Become the Next Black Pink?

Despite the enormous demand for Black Pink concerts and the expected launch of the new girl-group band BabyMonster, we believe shares of Yg...

Douglas Kim

Medtronic's M&A, Tender Offer, and Taking Private of Eoflow

Eoflow's share price is currently comfortably below 30,000 won and we believe this deal has 95-98%+ probability of getting completed within the...

Douglas Kim

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Liontown, United Malt, Estia, Mincor, Origin, Toyo, Toshiba

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

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