In today’s briefing:
- Korean Banks; Presidential Election Drives Positive View on Hana (086790 KS) And Woori (316140 KS)
Korean Banks; Presidential Election Drives Positive View on Hana (086790 KS) And Woori (316140 KS)
- The “Value Up” initiative which kicked off in February 2024 has been intended to bring about corporate governance and market reforms which minority and especially foreign investors have long sought
- So far, these voluntary reforms have brought positive albeit limited benefits to South Korean equities; presidential elections, with potential legislative change, should act as a positive valuation driver
- We reiterate our positive views on Woori and Hana Financial which are the top banks based on our scorecard; these attributes are due to attractive valuations and balance sheet credentials
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