Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

KRW 150T Korea Policy Fund: Watch the Flow Play from the KRW 5T Retail/ETF-Heavy Slice

A Clear Understanding of the Narrative Around Easing Bank–Industry Separation in Korea

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

Mirae Asset TIGER Fn Semiconductor Top 10 ETF / Event-Driven

Mirae Asset TIGER Fn Semiconductor Top 10 ETF (396500 KS)

Mirae Asset TIGER Fn Semiconductor Top 10 ETF

<ul>
<li>From a trading view, no confirmed new ETFs under the National Growth Fund yet; market expects existing ETFs to be the main liquidity and sector play tools instead.</li>
<li>Out of the KRW 150tn, ETF flows likely come from the 100tn private pool—conservative case: ~3% (KRW 4.5tn), base case: 5–7%, aggressive: up to 10% (KRW 15tn).</li>
<li>Even conservatively, about KRW 3 trillion could flow into sector ETFs, a signficant AUM boost, mainly concentrated in AI, defense, aerospace, and biotech—driving notable inflow impact.</li>
</ul>


From a trading view, no confirmed new ETFs under the National Growth Fund yet; market expects existing ETFs to be the main liquidity and sector play tools instead.
Out of the KRW 150tn, ETF flows likely come from the 100tn private pool—conservative case: ~3% (KRW 4.5tn), base case: 5–7%, aggressive: up to 10% (KRW 15tn).
Even conservatively, about KRW 3 trillion could flow into sector ETFs, a signficant AUM boost, mainly concentrated in AI, defense, aerospace, and biotech—driving notable inflow impact.


Mirae Asset Tiger Health Care ETF (143860 KS)

Hanwha PLUS K-Defense Industry ETF (449450 KS)

Korea’s Next Policy Momentum Play: Rapid Unfolding of the National Growth Fund