Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

JY Lee & The Ides of March.....and What It Means for You

Buffett's Investments in Japanese Trading Companies - Positive Boost to Korean Trading Companies?

Details on Inheritance Taxes & Impact on the Samsung Group Post Death of Chairman Lee

Equity Bottom-Up

<p>In this insight, we provide an updated valuation analysis of <a href="https://www.smartkarma.com/entities/samsung-c-t-corporation" target="_blank" data-smartkarma-citation="entities:481:1" rel="noopener">Samsung C&amp;T (028260 KS) </a>and key catalysts of the company.  </p><div class="content-highlight"><p><strong>Our base case valuation of Samsung C&amp;T is market cap of 43.2 trillion won and implied price of 231,387 won, which represents a 52% upside from current levels.</strong></p></div><h2><strong>Key Catalysts </strong></h2><ul>
<li><strong>Higher dividends expectation </strong></li>
<li><strong>Turnaround of the housing construction business in Korea</strong></li>
<li><strong>Potential reorganization of Samsung C&amp;T into a Holdco</strong></li>
<li><strong>Recent outperformance of holdcos/semi-holdcos in Korea </strong></li>
</ul>

In this insight, we provide an updated valuation analysis of Samsung C&amp;T (028260 KS) and key catalysts of the company.  Our base case valuation of Samsung C&amp;T is market cap of 43.2 trillion won and implied price of 231,387 won, which represents a 52% upside from current levels.Key Catalysts 
Higher dividends expectation 
Turnaround of the housing construction business in Korea
Potential reorganization of Samsung C&amp;T into a Holdco
Recent outperformance of holdcos/semi-holdcos in Korea 


Samsung C&T: Valuation Sensitivity Analysis & Key Catalysts