Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Korea's 25% Dividend Tax Basically Locked In, Market Now Trading the 30% Payout Angle

Direction of Samsung Elec 1P Discount Next Week, Watch the Reversion Trade

Final Samsung Electronics Stake Sale: Overhang Risk, Control Optics, & Clean Pref Reversion Trade

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

Samsung Electronics Pref Shares / Event-Driven

Samsung Electronics Pref Shares (005935 KS)

<ul>
<li>Market eyed 25% top rate, but 30% is still punchy; &lt;100 people hit it, lower than before, giving big shareholders incentive to rotate back into dividends.</li>
<li>The new regime hits only companies with 25% payout last year and +10% YoY dividend: lower than the original draft, and the 10% bump is a solid positive.</li>
<li>Companies &gt;5tn KRW with ≥25% payout last year must boost dividends +10% YoY to get the tax cut; Samsung could add ~1tn KRW, potentially easing its pref discount.</li>
</ul>


Market eyed 25% top rate, but 30% is still punchy; &lt;100 people hit it, lower than before, giving big shareholders incentive to rotate back into dividends.
The new regime hits only companies with 25% payout last year and +10% YoY dividend: lower than the original draft, and the 10% bump is a solid positive.
Companies &gt;5tn KRW with ≥25% payout last year must boost dividends +10% YoY to get the tax cut; Samsung could add ~1tn KRW, potentially easing its pref discount.


Korea Dividend Tax Cut: Eligibility Criteria & Market Impact on Large Caps, Including Samsung Prefs