Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Samsung Union Noise Trade: WACC Freeze Vs Incremental Capital Return Package Setup

Samsung Labor Deal: Detailed Structure and Stock Impact Breakdown

Court Injunction Outlook on Samsung Union Strike Risk and Key Factors Driving the Decision

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<ul>
<li>OPI capped at 50 percent, DS only pool up to 12 percent of operating profit, conditional on top rank in revenue and EBIT, non guaranteed funding pool structure.</li>
<li>Even if injunction fails, government likely triggers emergency arbitration to block strike. Samsung rejects fixed OP based bonus; focuses on time buying and maintaining flexible cyclical compensation structure.</li>
<li>Expect drawn out process with incremental engagement, union fragmentation pressure, and no clean positive catalyst for stock. Overhang remains sticky. Base case is 21st strike avoided, supporting downside.</li>
</ul>


OPI capped at 50 percent, DS only pool up to 12 percent of operating profit, conditional on top rank in revenue and EBIT, non guaranteed funding pool structure.
Even if injunction fails, government likely triggers emergency arbitration to block strike. Samsung rejects fixed OP based bonus; focuses on time buying and maintaining flexible cyclical compensation structure.
Expect drawn out process with incremental engagement, union fragmentation pressure, and no clean positive catalyst for stock. Overhang remains sticky. Base case is 21st strike avoided, supporting downside.


Samsung Electronics Pref Shares (005935 KS)

Scenario Development for the Samsung Union Situation