In today’s briefing:
- Samsung Jay Lee Cleared by Supreme Court — Market Reaction Could Flip From Consensus
- A Merger Between Hanil Cement and Hanil Hyundai Cement to Become the #1 Cement Player in Korea
- Insiders Selling at Silicon2: Negative Impact on Share Price
Samsung Jay Lee Cleared by Supreme Court — Market Reaction Could Flip From Consensus
- Jay Lee’s clean Supreme Court win may cool Samsung’s governance trade near term. With legal risks gone, there’s less urgency to push structural changes or shuffle shares now.
- Samsung C&T, a hotspot for governance spec flows, may see bids fade as urgency for structural shifts drops; longs on revamp bets might consider fading or shorting amid lingering risks.
- Samsung Life gets relief as forced Elec share sales drop, supporting its stock. Samsung Elec stays neutral. Trade idea: Samsung Life long, Samsung C&T short on cooled governance hopes.
A Merger Between Hanil Cement and Hanil Hyundai Cement to Become the #1 Cement Player in Korea
- After the market close today (17 July), Hanil Cement Co Ltd/New (300720 KS) and Hanil Hyundai Cement (006390 KS) announced that they will merge.
- Through this merger, Hanil Cement (on a combined basis with pro-forma sales of 1.74 trillion won in 2024) will become the largest cement company in Korea after Ssangyong Cement Industrial.
- We expect this merger to have a positive impact on both companies and they are likely to outperform the market and other local cement producers this year.
Insiders Selling at Silicon2: Negative Impact on Share Price
- Insiders have been selling at Silicon2 (257720 KS). The company’s CEO Kim Seong-Woon and other related parties sold 0.37 million shares (0.6% stake) in June 2025.
- Overall, we are concerned about this recent insider selling at Silicon2. We are lowering our rating on Silicon2 to Negative over the next 6-12 months.
- Silicon2 needs to introduce new cosmetic brands such as Joseon Beauty, Round Lab, and Anua that could become very popular on a regular basis. However, that could be a challenge.
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