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

Goodai Global (Unlisted) - The Most Aggressive M&A Player in the Korean Cosmetics Industry

China Advices Its Citizens to Refrain from Traveling to Japan - Beneficial Impact on Korea Tourism

Ulta Beauty Vs CJ Olive Young (Let the Rumble Begin)!

Updated NAV Valuations of Doosan Corp, Hanwha Corp, CJ Corp, GS Holdings, and Lotte Corp

CJ Olive Young: Well Positioned to Complete IPO in 2H 2022 After Solid Results in 2021

Warren Buffett Invests in Ulta Beauty - Positive Impact on CJ Corp?

Lee Jae-Myung Becomes the New South Korean President - Four Investment Themes That Could Outperform

Biggest One Day Move in Higher Share Performance YTD in 2025 for Major Korean Holdcos Today - Why?

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>Korea surpassed France as the top exporter of cosmetics to the USA in 2024. Korea exported $1.7 billion worth of cosmetics to the USA in 2024, up 54.2% YoY.</li>
<li>CJ Olive Young's online cosmetic sales to overseas markets soared 70% YoY in 1H 2025, fueled largely by the explosive demand from the United States.</li>
<li>We have raised our NAV valuation of CJ Corp to 207,713 won per share (up 28%). We raised the valuation of CJ Olive Young to 7 trillion won. </li>
</ul>


Korea surpassed France as the top exporter of cosmetics to the USA in 2024. Korea exported $1.7 billion worth of cosmetics to the USA in 2024, up 54.2% YoY.
CJ Olive Young's online cosmetic sales to overseas markets soared 70% YoY in 1H 2025, fueled largely by the explosive demand from the United States.
We have raised our NAV valuation of CJ Corp to 207,713 won per share (up 28%). We raised the valuation of CJ Olive Young to 7 trillion won. 


한국, 프랑스 제치고 대미 화장품 수출 1위 [CJ올리브영 - 주요 수혜]