Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Event-Driven

Very interestingly, SK Group seems to have some important new friends. In the past two years, SK Group has conducted several interesting partnership projects with Hon Hai. Well, Hon Hai even made equity investment in SK Holding Co. Now, SK Group seems to run some other important joint businesses with Alibaba and Softbank.1. SK Holding Co.’s IT solution division (C&amp;C) became a strategic partner of Alibaba’s ambitious cloud business.In April this year, SK C&amp;C announced partnership deal with…

Very interestingly, SK Group seems to have some important new friends. In the past two years, SK Group has conducted several interesting partnership projects with Hon Hai. Well, Hon Hai even made equity investment in SK Holding Co. Now, SK Group seems to run some other important joint businesses with Alibaba and Softbank.1. SK Holding Co.’s IT solution division (C&amp;C) became a strategic partner of Alibaba’s ambitious cloud business.In April this year, SK C&amp;C announced partnership deal with…

SK Group Now Has a Close Tie with Alibaba and Softbank - Important Implications You Should Know

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When we last wrote about the Korean telecom market our concerns were encapsulated in the title: <a href="https://www.smartkarma.com/insights/korean-wireless-more-pain-no-gain" target="_blank" data-smartkarma-citation="insights:2684">Korean Wireless: More Pain, No Gain</a> . Move forward to 1Q16 and in fact there has been some improvement. Reported revenue service growth picked up and is now in positive territory despite the impact of new data-centric tariffs and higher permissible tariff discount plans. Subscriber and ARPU (ex MVNOs) growth remains modest with MVNOs capturing almost all of the market growth since 2012.Service revenue…

When we last wrote about the Korean telecom market our concerns were encapsulated in the title: Korean Wireless: More Pain, No Gain . Move forward to 1Q16 and in fact there has been some improvement. Reported revenue service growth picked up and is now in positive territory despite the impact of new data-centric tariffs and higher permissible tariff discount plans. Subscriber and ARPU (ex MVNOs) growth remains modest with MVNOs capturing almost all of the market growth since 2012.Service revenue…

Korean Wireless: Some Improvement Shown in 1Q16

Is SK Group really interested in the long-term survival of SK Planet (the operator of 11st Street)?Well, SK Planet got KRW500b from IMM Private Equity. Not only that, it is still planning to get another KRW500b from outside investors to boost its logistical capacity. Obviously, Korea’s online marketplace competition is getting amazingly intense. 11st Street is not only competing against its direct competitors such as G Market, but also it is fiercely competing against such social commerce…

Is SK Group really interested in the long-term survival of SK Planet (the operator of 11st Street)?Well, SK Planet got KRW500b from IMM Private Equity. Not only that, it is still planning to get another KRW500b from outside investors to boost its logistical capacity. Obviously, Korea’s online marketplace competition is getting amazingly intense. 11st Street is not only competing against its direct competitors such as G Market, but also it is fiercely competing against such social commerce…

Sell SK Planet (11st St.) And Buy LGE's Mobile Handset Division? Implications for SK Restructuring

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

There have been lots of discussions in Korea's media about Korea's version of Quantitative Easing in the past several weeks, especially after President Park mentioned that quantitative easing should be considered positively.  Her remarks came out on 26 April 2016. Her comments may have helped to weaken the Won, which declined 2% versus USD from 25 April to 13 May. During this period, the US dollar index (DXY) declined only 0.3%. Before we provide our views, first here are the facts:<ul><li>Many members…</li></ul>

There have been lots of discussions in Korea's media about Korea's version of Quantitative Easing in the past several weeks, especially after President Park mentioned that quantitative easing should be considered positively.  Her remarks came out on 26 April 2016. Her comments may have helped to weaken the Won, which declined 2% versus USD from 25 April to 13 May. During this period, the US dollar index (DXY) declined only 0.3%. Before we provide our views, first here are the facts:Many members…

What's All the Fuss About Quantitative Easing in Korea?

Following are the results of the spectrum auction held on April 29 and May 2.Total spectrums to be allocated: 140㎒ (5 blocks):Block A: 700㎒ band (40㎒) - KRW762.0b for 10 years Block B: 1.8㎓ band (20㎒) - KRW451.3b for 10 years Block C: 2.1㎓ band (20㎒) - KRW381.6b for 5 years Block D: 2.6㎓ band (40㎒) - KRW655.3b for 10 years Block E: 2.6㎓ band (20㎒) - KRW327.7b for 10 years<ol><li>
SK Telecom took Block D and Block E: Block D: 2.6㎓ band (40㎒) - KRW950.0b (paid KRW294.7b more) Block E: 2.6㎓ band (20㎒) - KRW327.7b…</li></ol>

Following are the results of the spectrum auction held on April 29 and May 2.Total spectrums to be allocated: 140㎒ (5 blocks):Block A: 700㎒ band (40㎒) - KRW762.0b for 10 years Block B: 1.8㎓ band (20㎒) - KRW451.3b for 10 years Block C: 2.1㎓ band (20㎒) - KRW381.6b for 5 years Block D: 2.6㎓ band (40㎒) - KRW655.3b for 10 years Block E: 2.6㎓ band (20㎒) - KRW327.7b for 10 years
SK Telecom took Block D and Block E: Block D: 2.6㎓ band (40㎒) - KRW950.0b (paid KRW294.7b more) Block E: 2.6㎓ band (20㎒) - KRW327.7b…

Korea's Spectrum Auction Is Completed: Summary and Analysis

South Korea

SK Telecom Co., Ltd. is a Korean mobile and telecommunications operator. The Company provides cellular voice, wireless data, and wireless internet services. SK Telecom also offers fixed line services and platform services.

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SK Telecom (017670 KS)

SK Group Now Has a Close Tie with Alibaba and Softbank - Important Implications You Should Know

Very interestingly, SK Group seems to have some important new friends. In the past two years, SK Group has conducted several interesting...

Sanghyun Park

Korean Wireless: Some Improvement Shown in 1Q16

When we last wrote about the Korean telecom market our concerns were encapsulated in the title: Korean Wireless: More Pain, No Gain . Move forward...

New Street Research

Sell SK Planet (11st St.) And Buy LGE's Mobile Handset Division? Implications for SK Restructuring

Is SK Group really interested in the long-term survival of SK Planet (the operator of 11st Street)?Well, SK Planet got KRW500b from IMM Private...

Sanghyun Park

What's All the Fuss About Quantitative Easing in Korea?

There have been lots of discussions in Korea's media about Korea's version of Quantitative Easing in the past several weeks, especially after...

Douglas Kim

Korea's Spectrum Auction Is Completed: Summary and Analysis

Following are the results of the spectrum auction held on April 29 and May 2.Total spectrums to be allocated: 140㎒ (5 blocks):Block A: 700㎒ band...

Sanghyun Park

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52-week Range

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