Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>The long-standing divorce case between SK Group Chairman Chey Tae-won and his estranged wife Roh So-young refuses to end.</li>
<li>Rather, the Supreme Court of Korea overturned a lower court ruling that ordered Chey Tae-won to pay 1.38 trillion won ($973 million) to Ro So-young.</li>
<li>Our NAV valuation of SK Inc suggests implied market cap of 25.8 trillion won or target price of 355,918 won per share, which is 63% higher than current levels.</li>
</ul>


The long-standing divorce case between SK Group Chairman Chey Tae-won and his estranged wife Roh So-young refuses to end.
Rather, the Supreme Court of Korea overturned a lower court ruling that ordered Chey Tae-won to pay 1.38 trillion won ($973 million) to Ro So-young.
Our NAV valuation of SK Inc suggests implied market cap of 25.8 trillion won or target price of 355,918 won per share, which is 63% higher than current levels.


Supreme Court Overturns a Lower Court Ruling for the Divorce Case Chey Tae-Won and Roh So-Young

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>Supreme Court divorce ruling for Chairman Chey (17.9% owner) hits tomorrow 10 a.m., likely driving intraday swings.</li>
<li>Chey’s wealth is mainly SK Inc (17.8%) and SK Siltron (29.6%). With half SK Inc shares tied, only SK Siltron offers liquidity, but it still falls short of his needs.</li>
<li>If the Supreme Court surprises, Chey may act on SK Inc shares, fueling a management/control narrative. Payments are due immediately, so SK Inc could see bigger intraday swings than expected.</li>
</ul>


Supreme Court divorce ruling for Chairman Chey (17.9% owner) hits tomorrow 10 a.m., likely driving intraday swings.
Chey’s wealth is mainly SK Inc (17.8%) and SK Siltron (29.6%). With half SK Inc shares tied, only SK Siltron offers liquidity, but it still falls short of his needs.
If the Supreme Court surprises, Chey may act on SK Inc shares, fueling a management/control narrative. Payments are due immediately, so SK Inc could see bigger intraday swings than expected.


Chey Divorce Verdict Tomorrow at 10 AM: SK Inc Poised for Larger-Than-Expected Intraday Moves

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

<ul>
<li>We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology</li>
<li>Portfolio changes: Three stocks remain, 11 new join the fray</li>
<li>Since its inception, it has generated a before-fee total return of 326% versus the MSCI Asia ex Japan of 227%</li>
</ul>


We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology
Portfolio changes: Three stocks remain, 11 new join the fray
Since its inception, it has generated a before-fee total return of 326% versus the MSCI Asia ex Japan of 227%


Cross Asset Strategy

<ul>
<li>Amid record rallies in the Korean stock market and the major semiconductor stocks in particular, there has been a massive net selling of Korean stocks by foreign investors this year.</li>
<li>In this insight, I discuss the following three major items including net selling/buying of Korean stocks by foreign investors, domestic institutions, and domestic retail in the past 10 years.</li>
<li>I also discuss percentage change in foreign ownership among the top 20 stocks in Korea and impact of the net selling of Korean stocks by foreigners on the KRW/USD rates.</li>
</ul>


Amid record rallies in the Korean stock market and the major semiconductor stocks in particular, there has been a massive net selling of Korean stocks by foreign investors this year.
In this insight, I discuss the following three major items including net selling/buying of Korean stocks by foreign investors, domestic institutions, and domestic retail in the past 10 years.
I also discuss percentage change in foreign ownership among the top 20 stocks in Korea and impact of the net selling of Korean stocks by foreigners on the KRW/USD rates.


Massive Net Selling of Korean Stocks by Foreign Investors in 2026: Having Significant Impact on FX

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of KOSPI 200 in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Samsung Electronics, SK Innovation, KEPCO, S-Oil, KCC, LG Chem, SKCHEM.</li>
</ul>


We analysed the earning revision of component stocks of KOSPI 200 in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Samsung Electronics, SK Innovation, KEPCO, S-Oil, KCC, LG Chem, SKCHEM.


KOSPI 200 Index Earning Revision (Sep): Samsung Electronics, SK Innovation, KEPCO, S-Oil, KCC

South Korea

SK Holdings Co., Ltd. is a holdings company that is engaged in various industries including energy, chemicals, information technology, semiconductors, marketing, and services businesses in South Korea and internationally.

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

SK Inc (034730 KS)

Supreme Court Overturns a Lower Court Ruling for the Divorce Case Chey Tae-Won and Roh So-Young

Divorce case between Chey Tae-won and his estranged wife Roh So-young refuses to end. Supreme Court overturned a lower court ruling that ordered...

Douglas Kim

Chey Divorce Verdict Tomorrow at 10 AM: SK Inc Poised for Larger-Than-Expected Intraday Moves

This post takes a closer look at tomorrow’s Chey divorce verdict 10 AM: SK Inc could see bigger-than-expected intraday moves.

Sanghyun Park

The Stocks to Own in Asia – Vol. 53

We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology. Portfolio changes: Three stocks remain, 11 new join the...

A. Stotz Investment Research

Massive Net Selling of Korean Stocks by Foreign Investors in 2026: Having Significant Impact on FX

In this insight, I discuss the following three major items including net selling/buying of Korean stocks by foreign investors, domestic...

Douglas Kim

KOSPI 200 Index Earning Revision (Sep): Samsung Electronics, SK Innovation, KEPCO, S-Oil, KCC

We analyzed KOSPI 200's consensus for Sep 2026 and highlighted changes of EPS in Samsung Electronics, SK Innovation, KEPCO, S-Oil, KCC, LG Chem,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)