Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

KOSPI 200 Tactical Outlook As Treasury Share Cancellations Impact Passive Flows

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<ul>
<li>KRX may preemptively adjust KOSPI 200 screening, switching from full market cap to market cap excluding treasury shares for index inclusion.</li>
<li>With treasury-share cancellation likely this quarter, KRX may act before June ’26. For December KOSPI 200, we should run both full-cap and ex-treasury screens; flows could behave unusually.</li>
<li>Focusing on Hanssem (009240 KS) and Taekwang (003240 KS); borderline, high treasury shares, potential KOSPI 200 exclusion, making them key flow-sensitive setups for December reshuffle.</li>
</ul>


KRX may preemptively adjust KOSPI 200 screening, switching from full market cap to market cap excluding treasury shares for index inclusion.
With treasury-share cancellation likely this quarter, KRX may act before June ’26. For December KOSPI 200, we should run both full-cap and ex-treasury screens; flows could behave unusually.
Focusing on Hanssem (009240 KS) and Taekwang (003240 KS); borderline, high treasury shares, potential KOSPI 200 exclusion, making them key flow-sensitive setups for December reshuffle.


Korea’s Mandatory Treasury Share Cancellation Situation Creates New Passive Flow Dynamics

Taekwang Industrial

Korea’s Mandatory Treasury Share Cancellation Situation Creates New Passive Flow Dynamics