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>Hynix could announce KRW 100tn shareholder returns this week, with a 60:40 dividend buyback mix. Yeouido is increasingly positioning for this outcome.</li>
<li>KRW 40tn buyback matches the ADR proceeds, with Hynix repurchasing below the issuance price. The broader package also creates a timely window to upstream excess cash to SK.</li>
<li>Square looks set to outperform Hynix near term as the return mix reinforces the cash upstreaming narrative. A long Square, short Hynix or market setup looks compelling into the announcement.</li>
</ul>


Hynix could announce KRW 100tn shareholder returns this week, with a 60:40 dividend buyback mix. Yeouido is increasingly positioning for this outcome.
KRW 40tn buyback matches the ADR proceeds, with Hynix repurchasing below the issuance price. The broader package also creates a timely window to upstream excess cash to SK.
Square looks set to outperform Hynix near term as the return mix reinforces the cash upstreaming narrative. A long Square, short Hynix or market setup looks compelling into the announcement.


Hynix Dividend Heavy Return Likely Friday: Square Outperformance Setup in Focus

SK Square

Hynix Dividend Heavy Return Likely Friday: Square Outperformance Setup in Focus