Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<ul>
<li>Ecopro’s PRS: KRW 700bn, 2-year, BM shares underlying, 5.85% coupon; SK’s July PRS was bigger (KRW 1.4tn, 3-year, 4.3%), same payoff mechanics.</li>
<li>Watch for hedge-flow side trades: Ecopro’s KRW 700bn PRS on BM shares should mirror SKI’s setup, likely triggering a noticeable pop when the primary buyer hedges.</li>
<li>PRS likely hits Sept 24–25; Mirae Asset leads. Be ready to catch flow-driven whipsaws from local institutions around execution.</li>
</ul>


Ecopro’s PRS: KRW 700bn, 2-year, BM shares underlying, 5.85% coupon; SK’s July PRS was bigger (KRW 1.4tn, 3-year, 4.3%), same payoff mechanics.
Watch for hedge-flow side trades: Ecopro’s KRW 700bn PRS on BM shares should mirror SKI’s setup, likely triggering a noticeable pop when the primary buyer hedges.
PRS likely hits Sept 24–25; Mirae Asset leads. Be ready to catch flow-driven whipsaws from local institutions around execution.


Side Flow Trade Opportunity from the PRS Deal: Timing the Ecopro BM Buy Flow