Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>In this insight, we review our Korean Small Cap Gem insights that we published in 2025. We published 18 Korea Small Cap Gem Series insights in 2025.</li>
<li>The 18 Korean Small Caps have generally performed well this year. They were up on average 17% and 45%, respectively one week and two weeks after the insights were published.</li>
<li>Some of the best performing stocks so far this year include Chunil Express (000650 KS), Aurora World (039830 KS), Makus Inc (093520 KS), and Flitto Inc. (300080 KS). </li>
</ul>


In this insight, we review our Korean Small Cap Gem insights that we published in 2025. We published 18 Korea Small Cap Gem Series insights in 2025.
The 18 Korean Small Caps have generally performed well this year. They were up on average 17% and 45%, respectively one week and two weeks after the insights were published.
Some of the best performing stocks so far this year include Chunil Express (000650 KS), Aurora World (039830 KS), Makus Inc (093520 KS), and Flitto Inc. (300080 KS). 


A Review of Korean Small Cap Gems in 2025

<ul>
<li>Total Soft Bank (045340 KS) is a Korean software company focused on digital solutions (enterprise industrial software, SaaS) for the maritime shipping and port logistics value chain.</li>
<li>The company had best ever results in 2Q25. It had sales of 9.7 billion won (up 140.6% YoY) and operating profit of 5.1 billion won (up 947% YoY) in 2Q25.</li>
<li>Using a P/E ratio of 15x on the estimated net profit of 15.5 billion won (2027E), it would suggest market cap of 233 billion won (207% higher than current levels).</li>
</ul>


Total Soft Bank (045340 KS) is a Korean software company focused on digital solutions (enterprise industrial software, SaaS) for the maritime shipping and port logistics value chain.
The company had best ever results in 2Q25. It had sales of 9.7 billion won (up 140.6% YoY) and operating profit of 5.1 billion won (up 947% YoY) in 2Q25.
Using a P/E ratio of 15x on the estimated net profit of 15.5 billion won (2027E), it would suggest market cap of 233 billion won (207% higher than current levels).


South Korea

Total Soft Bank Ltd. develops, designs, and markets software.  The Company specializes in logistics and marine transportation software such as computer automated terminal operation system, computer automated stowage system, and various ship automation solutions.

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Total Soft Bank (045340 KS)

A Review of Korean Small Cap Gems in 2025

In this insight, we review our Korean Small Cap Gem insights that we published in 2025. We published 18 Korea Small Cap Gem Series insights in 2025.

Douglas Kim

Korea Small Cap Gem #43: Total Soft Bank

Total Soft Bank (045340 KS) had best ever results in 2Q25. It had sales of 9.7 billion won (up 140.6% YoY) and operating profit of 5.1 billion won...

Douglas Kim

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