Founder/CEO of ROK Advisory, ROK Advisory LLC

Ken S. Kim

Founder/CEO of ROK Advisory

ROK Advisory LLC

ROK is an independent research advisory firm. We guide you to minimize the information gap between foreign and local investors in Northeast Asia with a focus in Korea, Taiwan and Japan.

Independent Research Advisory Firm

Event-Driven

The result of the guilty verdict was expected by the local media but what does this mean for the future of the Samsung Group? 5 key takeaways on what to expect and impact on the Samsung Group and its affiliates.

The result of the guilty verdict was expected by the local media but what does this mean for the future of the Samsung Group? 5 key takeaways on what to expect and impact on the Samsung Group and its affiliates. 

JY Lee & The Ides of March.....and What It Means for You

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Here is the latest list of high div yield stocks (near 5%) in KOSPI at the last close.The yields are based on the FnGuide consensus DPS.









Name
Ticker
DPS
Price
Div yield


Hana Financial Group Inc
086790
₩2,099
₩35,800
5.86%


Hyundai Heavy Industries Holdings Co Ltd
267250
₩18,083
₩313,500
5.77%


Industrial Bank of Korea
024110
₩532
₩9,450
5.63%


BNK Financial Group Inc
138930
₩334
₩5,940
5.62%


JB Financial Group Co Ltd
175330
₩328
₩5,870
5.59%


DGB Financial Group Co Ltd
139130
₩391
₩7,290
5.36%


Kumho Industrial Co Ltd
002990
₩500
₩9,370
5.34%


Woori Financial Group Inc
316140
₩541
₩10,150
5.33%


Shinhan Financial Group Co., Ltd.
055550
₩1,736
₩33,300
5.21%


KT&amp;G Corp
033780
₩4,563
₩88,400
5.16%


Samsung Securities Co Ltd
016360
₩2,171
₩42,950
5.05%


Lotte Foods Co Ltd
002270
₩17,000
₩342,500
4.96%


Samsung Card Co Ltd
029780
₩1,744
₩35,250
4.95%


Hyundai Marine &amp; Fire Insurance Co., Ltd
001450
₩1,150
₩23,450
4.90%


MERITZ SECURITIES CO LTD
008560
₩190
₩3,885
4.89%


GS Home Shopping Inc.
028150
₩7,000
₩143,500
4.88%

Source: KRX &amp; FnGuide











Name
Ticker
DTV/SO
DTV (₩B)
MC (₩B)


Hana Financial Group Inc
086790
0.57%
61.8
10,748.7


Hyundai Heavy Industries Holdings Co Ltd
267250
0.42%
21.0
4,952.9


Industrial Bank of Korea
024110
0.34%
23.7
6,980.4


BNK Financial Group Inc
138930
1.04%
20.2
1,936.1


JB Financial Group Co Ltd
175330
0.34%
3.9
1,156.3


DGB Financial Group Co Ltd
139130
0.47%
5.8
1,233.1


Kumho Industrial Co Ltd
002990
3.71%
12.7
343.3


Woori Financial Group Inc
316140
0.27%
19.4
7,331.0


Shinhan Financial Group Co., Ltd.
055550
0.58%
99.4
17,200.3


KT&amp;G Corp
033780
0.45%
54.2
12,136.7


Samsung Securities Co Ltd
016360
0.70%
27.0
3,835.4


Lotte Foods Co Ltd
002270
0.46%
1.8
387.7


Samsung Card Co Ltd
029780
0.14%
5.8
4,084.0


Hyundai Marine &amp; Fire Insurance Co., Ltd
001450
0.57%
12.0
2,096.4


MERITZ SECURITIES CO LTD
008560
0.40%
10.5
2,626.1


GS Home Shopping Inc.
028150
0.40%
3.8
941.7

Source: KRX



This post is about my subjective assessment of the current situation surrounding Samsung Group restructuring. Of course, I tried to gather as many local reports and street sayings as possible, which I presumed to be objective enough for me to write a post. Yet, I have to tell you that most parts of these findings aren't sufficiently substantiated. So, if you don't want to bother yourself with an unsubstantiated possibility, please stay away from this post.

This post is about my subjective assessment of the current situation surrounding Samsung Group restructuring. Of course, I tried to gather as many local reports and street sayings as possible, which I presumed to be objective enough for me to write a post. Yet, I have to tell you that most parts of these findings aren't sufficiently substantiated. So, if you don't want to bother yourself with an unsubstantiated possibility, please stay away from this post.

Subjective Assessment of Current Situation Surrounding Samsung Restructuring

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Private Capital Markets

Samsung Securities / Private Capital Markets

<div class="content-highlight">This report provides basics of investing in the <a href="https://n.news.naver.com/article/030/0002850417" target="_blank" rel="noopener">Korean OTC (K-OTC)</a> and unlisted stocks. There has been an increase in interests among many investors in investing in the Korean OTC and unlisted stocks and finding more information about them. The growing investors' interest in these stocks is also a reflection of the preparation of the implementation of the BDC (Business Development Company) starting 2020, which will make it easier for growth stage, innovative companies in Korea to raise capital. </div>In October 2019, Samsung Securities launched the a new trading platform called 'Securities Plus Unlisted' (증권플러스 비상장) where investors can trade unlisted stocks. Samsung Securities has partnered with a blockchain specialist company Dunamu and big data startup Deep Search in developing and launching this new platform.In October 2019, the Financial Services Commission (FSC) announced detailed introduction plan for the (<a href="http://www.inews24.com/view/1213382" target="_blank" rel="noopener">BDC· Business Development Company</a>) in 2020.The current timeline is to launch the full implementation of the BDC program in 2H 2020.

This report provides basics of investing in the Korean OTC (K-OTC) and unlisted stocks. There has been an increase in interests among many investors in investing in the Korean OTC and unlisted stocks and finding more information about them. The growing investors' interest in these stocks is also a reflection of the preparation of the implementation of the BDC (Business Development Company) starting 2020, which will make it easier for growth stage, innovative companies in Korea to raise capital. In October 2019, Samsung Securities launched the a new trading platform called 'Securities Plus Unlisted' (증권플러스 비상장) where investors can trade unlisted stocks. Samsung Securities has partnered with a blockchain specialist company Dunamu and big data startup Deep Search in developing and launching this new platform.In October 2019, the Financial Services Commission (FSC) announced detailed introduction plan for the (BDC· Business Development Company) in 2020.The current timeline is to launch the full implementation of the BDC program in 2H 2020. 

Launch of the BDC (Business Development Company) In 2020 & Investing in Korean OTC/Unlisted Stocks

Equity Capital Markets

Woongjin Thinkbig / Equity Capital Markets

<ul class="">
<li>
<a href="https://www.smartkarma.com/entities/8994" target="_blank" data-smartkarma-citation="entities:8994:1">Woongjin Thinkbig (095720 KS)</a> pushed back the entire rights offer schedule. The schedule change was finalized at the board meeting on Oct 17. We will have preliminary pricing on Nov 29, and ex-rights date will be Dec 3. Subscription rights will be traded for 5 trading days starting Dec 21. Final pricing will be Jan 7. Subscription will be Jan 17-18. New shares will be listed on 31st Jan.</li>
<li>Considering all the current situations (such as KB Asset having sold all of its 7% stake last month, more than half the shareholders being local retail and the major shareholders owning only a 30.48% stake), the company must need as many arb traders as possible to act as actively and aggressively as possible.</li>
<li>The company and Woongjin Group made it very clear that they need this rights offer to make a successful takeover bid for <a href="https://www.smartkarma.com/entities/3022" target="_blank" data-smartkarma-citation="entities:3022:1">Coway Co Ltd (021240 KS)</a>. This has a very clear meaning. The company will do whatever it can to make this rights offer successful. There is a very good chance that this will be another HDC tender-like event which has a lot of juice to enjoy.</li>
</ul>



Woongjin Thinkbig (095720 KS) pushed back the entire rights offer schedule. The schedule change was finalized at the board meeting on Oct 17. We will have preliminary pricing on Nov 29, and ex-rights date will be Dec 3. Subscription rights will be traded for 5 trading days starting Dec 21. Final pricing will be Jan 7. Subscription will be Jan 17-18. New shares will be listed on 31st Jan.
Considering all the current situations (such as KB Asset having sold all of its 7% stake last month, more than half the shareholders being local retail and the major shareholders owning only a 30.48% stake), the company must need as many arb traders as possible to act as actively and aggressively as possible.
The company and Woongjin Group made it very clear that they need this rights offer to make a successful takeover bid for Coway Co Ltd (021240 KS). This has a very clear meaning. The company will do whatever it can to make this rights offer successful. There is a very good chance that this will be another HDC tender-like event which has a lot of juice to enjoy.


Woongjin Thinkbig Rights Offer Revised Schedule: Another Juicy Arb Event

South Korea

Samsung Securities Co.,Ltd. provides personalized asset management services. The Company provides brokerage, investment trust, underwriting services, and other services. Samsung Securities also provides cyber trading, mutual funds, asset backed securities issuing, municipal bonds trading services.

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

Samsung Securities (016360 KS)

JY Lee & The Ides of March.....and What It Means for You

The impact of the JY Lee jail sentencing and what it means for Samsung Electronics, Samsung C&T and its affiliates down the line.

Ken S. Kim

Div Play Stocks on T-1 Ex-Div in KOSPI

This insight filters the high div stocks in KOSPI for 1. arb trades using futures for short hedge and 2. unhedged outright trades based on 20D MA...

Sanghyun Park

Subjective Assessment of Current Situation Surrounding Samsung Restructuring

This post is about my subjective assessment of the current situation surrounding Samsung Group restructuring. Of course, I tried to gather as many...

Sanghyun Park

Launch of the BDC (Business Development Company) In 2020 & Investing in Korean OTC/Unlisted Stocks

This report provides basics of investing in the Korean OTC (K-OTC) and unlisted stocks. There has been an increase in interests among many...

Douglas Kim

Woongjin Thinkbig Rights Offer Revised Schedule: Another Juicy Arb Event

Woongjin Thinkbig (095720 KS) pushed back the entire rights offer schedule. The schedule change was finalized at the board meeting on Oct 17. We...

Sanghyun Park

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)