Daily Brief South Korea: Isupetasys, OliX Pharmaceuticals, Hyundai Autoever , TMC, LG CNS, Jaeyoung Solutec and more

• There will be 7 additions and 8 deletions for the Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX) at the next rebalance to be implemented at the close on 11 December.
• As expected, there are no adhoc inclusions as Samsung Epis Holdings is added to the index to offset the gap created by the Hyundai Heavy/ Hyundai Mipo merger.
• The adds have outperformed the deletes very handily while also outperforming the Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX) but by a much narrower margin.

• There will be 16 changes for the KOSDAQ 150 Index (KOSDQ150 INDEX) at the next rebalance to be implemented at the close on 11 December.
• Making use of their discretionary powers, the index committee has not added Wonik Holdings Co., Ltd (030530 KS), Samhyun (437730 KS) and Fadu (440110 KS) to the index.
• The adds have outperformed the deletes and the KOSDAQ 150 Index over the last 6 months and there has been a short-term move higher too. Watch out for short covering.

• IT trio got in as 1st/2nd screens didn’t fill 200; KRX used 3rd‑stage, pulling in the three names with biggest average daily mkt cap.
• Old buffer rule recycled constituents, but since two years ago Step 3 applies to the whole universe—first shortfall let big IT names like Hyundai Autoever slide in.
• Dec 12 rebalance: ~₩60tn passive flow expected; IT trio volumes high, but joining KOSPI 200 IT index could still trigger noticeable price impact near effective date.

• TMC is getting ready to complete its IPO in Korea in December 2025. The IPO price range is from 8,000 won to 9,300 won per share. 
• TMC is one of the largest Korean producers of specialty industrial cables used for shipbuilding, marine, optical cables, and nuclear power.
• At the IPO price range, the expected market cap of the company is from 193 billion won to 224 billion won. 

• KRX announced changes to KOSPI200 and KOSDAQ150 indices. These changes will be effective from 12 December 2025. 
• In KOSPI200, there are 8 new additions and 8 deletions. Among the new additions include LG CNS, Sanil Electric, Asia Holdings, and Paradise.
• There could be a buying opportunity for LG CNS due to its inclusion in KOSPI200 combined with its attractive valuations and accelerating sales and operating profit growth in 2026. 

• Jaeyoung Solutec is a South Korean manufacturer of high-precision components, primarily serving the mobile, semiconductor, and automotive industries. Its core products include plastic injection molds, semiconductor test sockets, and camera lens modules for smartphones.
• The company has demonstrated a significant financial turnaround, recovering from a substantial net loss in 2022 to achieve profitability in 2023 and 2024. This recovery is reflected in its strong ‘Growth’ and ‘Momentum’ scores, although historical performance has been volatile.
• Future growth is closely tied to the smartphone market, particularly the increasing adoption of high-performance, multi-lens cameras in mid-range models. A recent strategic investment in hybrid Optical Image Stabilization (OIS) equipment aims to capitalize on this trend, specifically targeting Samsung’s Galaxy A series.

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