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

Mirae Asset Securities

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

Equity Bottom-Up

Samsung Life Insurance / Equity Bottom-Up

<ul><li>We lift our target price for Samsung Life to W193,000 (from W166,000), based on a projected 2026 dividend yield of 3%.</li><li>While our previous target price was derived using a P/B of 0.80x, the reclassification of policyholder equity adjustments from liabilities to equity has reduced the usefulness of a P/B-based valuation.</li><li>Accordingly, we now shift to a dividend yield-based valuation. With our target price implying 8.7% downside, we maintain our Hold rating.</li></ul>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.

We lift our target price for Samsung Life to W193,000 (from W166,000), based on a projected 2026 dividend yield of 3%.While our previous target price was derived using a P/B of 0.80x, the reclassification of policyholder equity adjustments from liabilities to equity has reduced the usefulness of a P/B-based valuation.Accordingly, we now shift to a dividend yield-based valuation. With our target price implying 8.7% downside, we maintain 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)2026 Dividend Yield Forecast at 2.7%

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>After the market close on 19 March, Samsung Life Insurance and Samsung Fire &amp; Marine Insurance announced that they plan to sell 1.5 trillion won worth of Samsung Electronics. </li>
<li>Under the current Financial Holding Company Act, it restricts financial affiliates from holding up to 10% of the shares of non-financial affiliates. </li>
<li>The sale of 1.3 trillion won and 0.2 trillion won in Samsung Electronics by Samsung Life Insurance and Samsung F&amp;M Insurance represents 2.8% and 1% of their market caps, respectively.  </li>
</ul>


After the market close on 19 March, Samsung Life Insurance and Samsung Fire &amp; Marine Insurance announced that they plan to sell 1.5 trillion won worth of Samsung Electronics. 
Under the current Financial Holding Company Act, it restricts financial affiliates from holding up to 10% of the shares of non-financial affiliates. 
The sale of 1.3 trillion won and 0.2 trillion won in Samsung Electronics by Samsung Life Insurance and Samsung F&amp;M Insurance represents 2.8% and 1% of their market caps, respectively.  


Samsung Life Insurance and Samsung F&M Plan to Sell 1.5 Trillion Won Worth of Samsung Electronics

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.

<ul>
<li>Here’s a version under 30 words:Local tape is watching Life re-couple with SamE post KRW 2.5tn buyback, playing a high-beta proxy trade, with catalysts around 1H value-up guidance before May. </li>
<li>Local tape is keyed on Hong Ra-hee’s 0.25% SamE sale, signaling a buyback-heavy value-up, which could force Samsung Life to sell shares, fueling its outperformance vs. SamE.</li>
<li>Ahead of April–May SamE value-up, local tape is positioning Life vs. SamE for a sigma-long, with Hong Ra-hee’s stake sale boosting odds of a buyback-driven proxy trade</li>
</ul>


Here’s a version under 30 words:Local tape is watching Life re-couple with SamE post KRW 2.5tn buyback, playing a high-beta proxy trade, with catalysts around 1H value-up guidance before May. 
Local tape is keyed on Hong Ra-hee’s 0.25% SamE sale, signaling a buyback-heavy value-up, which could force Samsung Life to sell shares, fueling its outperformance vs. SamE.
Ahead of April–May SamE value-up, local tape is positioning Life vs. SamE for a sigma-long, with Hong Ra-hee’s stake sale boosting odds of a buyback-driven proxy trade


Local Tape Eyes Samsung Life as High-Beta SamE Proxy

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Thematic (Sector/Industry)

<ul>
<li>Cbus Property plans to acquire a stake in an Australian shopping mall for $919 million from Lendlease.</li>
<li>Samsung SRA has sold the Gangnam Tower in South Korea to a non-profit organization for $314 million.</li>
<li>IOI Properties has received conditional approval for a substantial $1.9 billion REIT in the latest updates.</li>
</ul>


Cbus Property plans to acquire a stake in an Australian shopping mall for $919 million from Lendlease.
Samsung SRA has sold the Gangnam Tower in South Korea to a non-profit organization for $314 million.
IOI Properties has received conditional approval for a substantial $1.9 billion REIT in the latest updates.


Asia Real Estate Tracker (11-Aug-2026): Cbus Property buys Aussie mall for $919M from Lendlease.

<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>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.

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

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.

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Samsung Life Insurance (032830 KS)

Samsung Life (032830 KS/Hold)2026 Dividend Yield Forecast at 2.7%

Accordingly, we now shift to a dividend yield-based valuation. With our target price implying 8.7% downside, we maintain our Hold rating.

Mirae Asset Securities

Samsung Life Insurance and Samsung F&M Plan to Sell 1.5 Trillion Won Worth of Samsung Electronics

After the market close on 19 March, Samsung Life Insurance and Samsung Fire & Marine Insurance announced that they plan to sell 1.5 trillion won...

Douglas Kim

Local Tape Eyes Samsung Life as High-Beta SamE Proxy

This post Introduces the local market flows targeting Samsung Life Insurance as a high-beta proxy trade on Samsung Electronics.

Sanghyun Park

Asia Real Estate Tracker (11-Aug-2026): Cbus Property buys Aussie mall for $919M from Lendlease.

Cbus Property will buy a stake in an Australian mall for $919M, Samsung SRA sold Gangnam Tower for $314M, and IOI Properties got conditional...

Asia Real Estate Tracker

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

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