In today’s briefing:
- Divorce Between SK Group Chairman Chey Tae-Won and Roh So-Young Coming to an End: Impact on SK Inc
- Tips for Using FnGuide to Run Top-Down Screens in Korea’s Policy-Driven Market
- KOSPI 200 Tactical Call: Positioning for September Pullback
- Nongshim Holdings: NAV Valuation Analysis
Divorce Between SK Group Chairman Chey Tae-Won and Roh So-Young Coming to an End: Impact on SK Inc
- More than eight years have passed since Chairman Chey first filed for a divorce from this wife Roh So-young in July 2017.
- This divorce case has finally reached the Supreme Court of Korea. Although the final outcome still remains unknown, it appears that this divorce case is finally coming to an end.
- We also provide an NAV analysis of SK Inc. Our NAV valuation of SK Inc suggests implied market cap of 24.1 trillion won which is 42% higher than current levels.
Tips for Using FnGuide to Run Top-Down Screens in Korea’s Policy-Driven Market
- KRX provides broad official market data, but no consensus estimates. FnGuide aggregates broker reports, standardizes them, and delivers actionable consensus numbers for practical trading use.
- FnGuide’s consensus data is solid and well-structured for screening, though coverage is limited to ~300–400 stocks, which still aligns with the practical trading universe.
- FnGuide’s paid services require Korean residency or a corporate workaround, making access tough for overseas traders; realistically, we can rely on their free sites for financials, consensus, and basic screening.
KOSPI 200 Tactical Call: Positioning for September Pullback
- The KOSPI 200 INDEX reached a new all time high last Friday, closing at 462.74. Let’s be clear: it’s very overbought according to our model.
- Our forecast is that the index will NOT rally for more than another 1 or 2 weeks (i.e. this week and maybe one more week).
- 449-442 is the price support zone with 50%-75% probability of reversal, if it was hit this week (this data will be updated if the index closes up this week).
Nongshim Holdings: NAV Valuation Analysis
- Nong Shim Holdings Co., Ltd. (072710 KS) is part of our top 10 picks in our latest Korea Top 10 Picks Bi-Weekly.
- Despite the recent share price appreciation, Nongshim Holdings’ price remains undervalued. Our NAV analysis suggests an implied price of 161,564 won per share which is 40% higher than current levels.
- Nongshim Holdings’ 32.7% stake in Nongshim is the largest component of the value (1 trillion won) which is nearly twice as high as Nongshim Holdings’ current market cap.
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