Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Samsung Just Dropped Its Value-Up Filing: Key Highlights and This Year’s DPS Estimate

Parsing the Underlying Implications of Samsung’s Shareholder Return Comments at Today’s AGM

Samsung’s Pref-Skewed Burn in Latest Filing & Impact on Discount Dynamics

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>The local market wants Samsung to clarify FCF deployment and capital allocation, as the March 19 filing just rehashed the 50 percent payout and 2026 capex and R&amp;D guidance.</li>
<li>With Hong Ra-hee’s final block deal done, Samsung is shifting from defensive buybacks to a structured capital allocation, prioritizing pref-first cancellations to boost ROE ahead of June value-up index rebalancing.</li>
<li>Samsung’s three year plan stays on the 50 percent FCF framework, but a preferred first buyback roadmap before June could shrink the P/C gap above 75 percent.</li>
</ul>


The local market wants Samsung to clarify FCF deployment and capital allocation, as the March 19 filing just rehashed the 50 percent payout and 2026 capex and R&amp;D guidance.
With Hong Ra-hee’s final block deal done, Samsung is shifting from defensive buybacks to a structured capital allocation, prioritizing pref-first cancellations to boost ROE ahead of June value-up index rebalancing.
Samsung’s three year plan stays on the 50 percent FCF framework, but a preferred first buyback roadmap before June could shrink the P/C gap above 75 percent.


Samsung Likely to Drop Second Value-Up Disclosure Before June with Pref-First Cancel to Boost ROE