Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>The dividend separate-tax regime is now clear: cash dividends only, with loss-making firms (e.g., Lotte 004990) qualifying if divs rise 10%+ YoY and D/E ≤200%.</li>
<li>The decree covers all dividend types (interim, quarterly, special, year-end), with payout ratios calculated on a consolidated basis as cash dividends divided by parent-shareholder net income.</li>
<li>Near-Term target basket based on FY25 FnGuide consensus and today’s decree, screening top KOSPI caps (≥KRW 2tn) yields ~13 names.</li>
</ul>


The dividend separate-tax regime is now clear: cash dividends only, with loss-making firms (e.g., Lotte 004990) qualifying if divs rise 10%+ YoY and D/E ≤200%.
The decree covers all dividend types (interim, quarterly, special, year-end), with payout ratios calculated on a consolidated basis as cash dividends divided by parent-shareholder net income.
Near-Term target basket based on FY25 FnGuide consensus and today’s decree, screening top KOSPI caps (≥KRW 2tn) yields ~13 names.


Detailed Screening Rules (Decree) For Div Separate Taxation Released: Near-Term Targets Screened

POSCO Holdings

Detailed Screening Rules (Decree) For Div Separate Taxation Released: Near-Term Targets Screened