Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Sam Chun Dang Pharm: Block Deal Sale of Nearly 300 Billion Won by the CEO

Intel on KOSDAQ Premium and Front Running Direction from Local Desks

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<ul>
<li>Start with top market cap names, screen out high PBR and governance overhang. Apply sector relative PBR filter. Using 2.9x cutoff, ~82 KOSDAQ 150 names screen as likely Premium candidates.</li>
<li>Enforced Premium versus Standard structure with promotion and relegation raises outflow risk. Premium replacing KQ150 looks increasingly likely, unlike failed KRX 300 or value up attempts.</li>
<li>Gradual migration from 2H; overweight ~80 quality KQ150 names. Assuming 50–60% AUM shift plus pension inflows, Premium-tracking passive funds could eventually reach KRW 15–18T, with prepositioning flows building.</li>
</ul>


Start with top market cap names, screen out high PBR and governance overhang. Apply sector relative PBR filter. Using 2.9x cutoff, ~82 KOSDAQ 150 names screen as likely Premium candidates.
Enforced Premium versus Standard structure with promotion and relegation raises outflow risk. Premium replacing KQ150 looks increasingly likely, unlike failed KRX 300 or value up attempts.
Gradual migration from 2H; overweight ~80 quality KQ150 names. Assuming 50–60% AUM shift plus pension inflows, Premium-tracking passive funds could eventually reach KRW 15–18T, with prepositioning flows building.


KOSDAQ Two-Tier Official: Alpha Trades Target ~80 Overweight Names Within KQ150 from 2H