In today’s briefing:
- SK Hynix ADR Inclusions in the SMH ETF, VanEck Semi UCITS ETF, and KODEX US Semi ETF Rebalances
- Hugel (145020 KS): South Korea’s Low-Cost Botox Leader Now Expanding to the US
- SK Hynix (000660 KS) Tactical UPDATE Ahead of Sep 22’s MTD Opposition Deadline
- Korea Small Cap Gem #71: Won Tech
SK Hynix ADR Inclusions in the SMH ETF, VanEck Semi UCITS ETF, and KODEX US Semi ETF Rebalances
- There are several notable ETFs (SMH ETF, VanEck Semiconductor UCITS ETF, and KODEX US Semiconductor ETF) that will include SK Hynix (SKHY US) ADRs in their upcoming rebalances.
- The expected capital inflow from the passive funds is expected to be significant at about $3.8 billion (5.2 trillion won).
- A $3.8 billion inflow represents 11.3% of the total ADR market cap. ADTV is $4.3 billion. Flow/ADTV (no of days) is 0.88.
Hugel (145020 KS): South Korea’s Low-Cost Botox Leader Now Expanding to the US
- On Tuesday, Meera Kapoor wrote about how GLP-1 drugs cause people’s skin to become saggy – the effect that’s now popularly known as “Ozempic face”.
- Two solutions are botulinum neurotoxin (“Botox”) and dermal fillers.
- Botox is injected into the skin to reduce wrinkles. Such wrinkles include frown lines, forehead lines and so-called “crow’s feet.
SK Hynix (000660 KS) Tactical UPDATE Ahead of Sep 22’s MTD Opposition Deadline
- Sanghyun Park has explained in detail what happens on Sep 22 (Plaintiffs’ MTD Opposition Filing Deadline) for SK Hynix (000660 KS) . Effects could be visible from Sep 23.
- Our previous insight updated the stock’s profit targets for this rally (“the rally could reach 2,000,000 on the third week”). This is the third week and it’s still below target.
- SK Hynix rallied less than expected and seems to be at an inflection point: has cleared P50 resistance but P75/1,996,000 is far. Sep 22 could be a turning point.
Korea Small Cap Gem #71: Won Tech
- Won Tech’s exports increased by 59.8% YoY in 2025 and by 21.5% YoY in 1H 2026. The company’s export sales to the U.S. increased sharply in 1H 2026.
- Won Tech is currently trading at P/E of 9.8x and P/B of 2.2x based on 2026 consensus earnings estimates (50% to 60% discount to its historical valuation multiples).
- Won Tech provides medical aesthetics and surgical devices. The company’s products specializes in the laser and energy based medical solutions used for skin rejuvenation and face lifting procedures.
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