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

K Bank IPO Preview (Third Try Is a Charm?)

K Bank IPO Valuation Analysis (Key Beneficiary of Stablecoin Expansion in Korea)

SK Telecom's Investment in Anthropic - A Huge Homerun

KT Corp: Excellent 2Q 2025 Earnings Driven by Market Share Gain and Improving AI/Cloud Businesses

Initial Thoughts on the HD Hyundai Robotics IPO

HD Hyundai Robotics Raises 200 Billion Won and NAV Analysis of HD Hyundai

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>Although KT Corp has been underperforming KOSPI in the past six months, we now expect KT to outperform mainly due to its  minority stakes in HD Hyundai Robotics and K-Bank. </li>
<li>HD Hyundai Robotics and K-Bank which are two of the largest IPOs that are expected to be completed in Korea in 2026.</li>
<li>The IPOs of HD Hyundai Robotics and K-Bank are likely to have a positive impact on KT whose stakes in these companies could be worth nearly 1.9 trillion won.</li>
</ul>


Although KT Corp has been underperforming KOSPI in the past six months, we now expect KT to outperform mainly due to its  minority stakes in HD Hyundai Robotics and K-Bank. 
HD Hyundai Robotics and K-Bank which are two of the largest IPOs that are expected to be completed in Korea in 2026.
The IPOs of HD Hyundai Robotics and K-Bank are likely to have a positive impact on KT whose stakes in these companies could be worth nearly 1.9 trillion won.


KT Corp: 2026年のHD Hyundai RoboticsとK-BankのIPOにより、業績が好調となる見込み