External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Samsung Life Insurance / Equity Bottom-Up

<ul><li>We lift our target price for Samsung Life to W166,000 (from W131,000), which we derived by applying a P/B of 0.8x to our 2026F BPS.</li><li>We kept our target multiple unchanged because, while the company has set a medium/long-term dividend payout target of 50%, it has yet to announce a corporate value enhancement plan.</li><li>With our target price implying slight downside (-1.4%), we retain our Hold rating.</li></ul><p><em>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.</em></p>

We lift our target price for Samsung Life to W166,000 (from W131,000), which we derived by applying a P/B of 0.8x to our 2026F BPS.We kept our target multiple unchanged because, while the company has set a medium/long-term dividend payout target of 50%, it has yet to announce a corporate value enhancement plan.With our target price implying slight downside (-1.4%), we retain our Hold rating.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.

Samsung Life (032830 KS/Hold)Dividend Yield to Remain in the 3% Range

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<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)

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>Today’s FSS IFRS17 ruling is an accounting fix (equity vs. liability), not the Samsung Life Law, which is a regulatory cap on affiliate stakes based on market value.</li>
<li>The FSS ruling signals Samsung Life doesn’t need to treat its Samsung Electronics stake as a forced-sale liability, lowering near-term sale risk.</li>
<li>This eases the overhang, delays potential stake moves, and reinforces the relative underperformance setup on Samsung C&amp;T highlighted in earlier posts.</li>
</ul>


Today’s FSS IFRS17 ruling is an accounting fix (equity vs. liability), not the Samsung Life Law, which is a regulatory cap on affiliate stakes based on market value.
The FSS ruling signals Samsung Life doesn’t need to treat its Samsung Electronics stake as a forced-sale liability, lowering near-term sale risk.
This eases the overhang, delays potential stake moves, and reinforces the relative underperformance setup on Samsung C&amp;T highlighted in earlier posts.


Clearing up the FSS’s Sudden Call on Samsung Life’s Samsung Elec Stake Accounting Shift

<ul>
<li>Both accounting issues are complex, but intense regulator scrutiny fuels the Samsung Life Act case, sparking governance reshuffle bets and driving today’s Samsung Life stock pop.</li>
<li>Accounting rechecks could spark divestment fears or governance-driven rerating, creating a classic headline-driven, bidirectional trading setup.</li>
<li>Near-Term, this is a headline-driven momentum setup: Samsung Life longs/shorts, ready to pivot, with relative-value plays vs financial peers or Samsung's governance-linked names.</li>
</ul>


Both accounting issues are complex, but intense regulator scrutiny fuels the Samsung Life Act case, sparking governance reshuffle bets and driving today’s Samsung Life stock pop.
Accounting rechecks could spark divestment fears or governance-driven rerating, creating a classic headline-driven, bidirectional trading setup.
Near-Term, this is a headline-driven momentum setup: Samsung Life longs/shorts, ready to pivot, with relative-value plays vs financial peers or Samsung's governance-linked names.


True Aspect (Trade-Wise) Of the Samsung Life Accounting Issue: Today’s Biggest Market Narrative

<ul>
<li>Samsung Life Insurance (032830 KS) and Samsung Fire &amp; Marine Insurance (000810 KS) plan to sell about 278 billion won of Samsung Electronics (005930 KS) in block deal sales.</li>
<li>A total of 5 million shares of Samsung Electronics shares that are expected to be sold in this block deal sale represents 0.1% of Samsung Electronics' outstanding shares.</li>
<li>If Samsung Life Insurance is able to sell 4.256 million shares of Samsung Electronics for 236.4 billion won, this would represent 1.3% of Samsung Life Insurance's market cap. </li>
</ul>


Samsung Life Insurance (032830 KS) and Samsung Fire &amp; Marine Insurance (000810 KS) plan to sell about 278 billion won of Samsung Electronics (005930 KS) in block deal sales.
A total of 5 million shares of Samsung Electronics shares that are expected to be sold in this block deal sale represents 0.1% of Samsung Electronics' outstanding shares.
If Samsung Life Insurance is able to sell 4.256 million shares of Samsung Electronics for 236.4 billion won, this would represent 1.3% of Samsung Life Insurance's market cap. 


Block Deal Sale of About 278 Billion Won of Samsung Electronics by Samsung Life and Samsung F&M

South Korea

Samsung Life Insurance Co., Ltd. provides insurance services. The Company offers life and health insurance services. Samsung Life Insurance serves customers in South Korea.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Samsung Life Insurance (032830 KS)

Samsung Life (032830 KS/Hold)Dividend Yield to Remain in the 3% Range

We lift our target price for Samsung Life to W166,000 (from W131,000), which we derived by applying a P/B of 0.8x to our 2026F BPS.

Mirae Asset Securities

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

Clearing up the FSS’s Sudden Call on Samsung Life’s Samsung Elec Stake Accounting Shift

This post clarifies FSS's sudden call today and clears up misunderstandings about Samsung Life’s Samsung Electronics stake accounting change.

Sanghyun Park

True Aspect (Trade-Wise) Of the Samsung Life Accounting Issue: Today’s Biggest Market Narrative

This post explores the true aspect of the Samsung Life accounting issue from a trading perspective, today’s hottest market narrative in Korea.

Sanghyun Park

Block Deal Sale of About 278 Billion Won of Samsung Electronics by Samsung Life and Samsung F&M

Samsung Life Insurance (032830 KS) and Samsung Fire & Marine Insurance (000810 KS) plan to sell about 278 billion won of Samsung Electronics...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)