Daily Brief South Korea: Samsung Electronics, Hyosung Heavy Industries Corp, HSD Engine Co., Ltd., Synopex Inc and more

• Samsung Electronics (005930 KS) is looking to raise around US$1.2bn from a secondary placement.
• This represents 0.9 days of the stock’s three month ADV, and  0.3% of total shares outstanding.
• In this note, we will talk about the placement and run the deal through our ECM framework.

• Hyosung Heavy (298040 KS) near 29% weight; 10ppt ceiling cut = ~0.6–0.7x DTV outflow. Unlike other ETF heavies, flows here bite — real tradeable setup.
• Hyosung Heavy ceiling cut hits Dec 12 rebalance unless >30% earlier; iSelect enforces next‑day, as seen with Isupetasys (right today) breach in KODEX AI Semicon ETF clipped to 20%.
• Hyosung Heavy again ripping today; watch 30% breach — triggers next‑day ceiling cut. Play the reversion, hedge with other hot AI power basket names.

• KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX).
• In this insight, we have presented our final expectations for ADDs and DELs for the upcoming semiannual review in December 2025.
• We expect up to 5 ADDs and 6 DELs for the KOSPI 200 index during this index rebal event based on the latest available data.

• It was announced today that Samsung’s Lee family members are selling about 1.8 trillion won worth of Samsung Electronics (005930 KS) through an after-hours block trade. 
• The purpose of the block trade is for the Lee family members to pay for inheritance taxes and repay stock-backed loans.
• The block trade selling level is between 102,200 won and 104,100 won, representing a discount of 0% to 1.8% compared to the closing price of the day.

• Synopex Inc. is a diversified manufacturer with core operations in Flexible Printed Circuit Boards (FPCBs) and high-performance membrane filters, positioning it to capitalize on growth in both the electronics and environmental sectors.
• The company is strategically expanding its presence in high-growth areas, including automotive electronics, medical devices (such as artificial kidneys), and advanced water treatment solutions, leveraging its technological expertise in filtration and electronic components.
• Financial performance indicates strong bottom-line growth, with a 3-year Net Income CAGR of 41.07%, despite modest revenue growth. This suggests successful cost management, a shift towards higher-margin products, or operational efficiencies.

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