Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>In this insight, we highlight the pricing gap divergences of the major Korean holdcos and opcos in 1Q 2023.</li>
<li>Of the 33 pair trades, 2/3 of them involved holdcos outperforming opcos in the past year and 1/3 of them involved opcos outperforming holdcos in the same period.</li>
<li>We highlight 33 pair trades that involve Korean holdcos and opcos.</li>
</ul>


In this insight, we highlight the pricing gap divergences of the major Korean holdcos and opcos in 1Q 2023.
Of the 33 pair trades, 2/3 of them involved holdcos outperforming opcos in the past year and 1/3 of them involved opcos outperforming holdcos in the same period.
We highlight 33 pair trades that involve Korean holdcos and opcos.


Korean Holdcos Vs Opcos Gap Spreads Opportunities in 1Q 2023

Private Capital Markets

<ul>
<li>ChatGPT is a mind boggling advancement in AI-human communication. I recommend EVERY reader of this insight to try out this service.</li>
<li>This insight on ChatGPT has three parts: First, I discuss the basics of ChatGPT and valuations. Second, I provide 13 examples of questions or requests that I made to ChatGPT.</li>
<li>Third, I discuss some key investment opportunities that could capitalize on all the "buzz" surrounding ChatGPT at this moment. </li>
</ul>


ChatGPT is a mind boggling advancement in AI-human communication. I recommend EVERY reader of this insight to try out this service.
This insight on ChatGPT has three parts: First, I discuss the basics of ChatGPT and valuations. Second, I provide 13 examples of questions or requests that I made to ChatGPT.
Third, I discuss some key investment opportunities that could capitalize on all the "buzz" surrounding ChatGPT at this moment. 


ChatGPT: A Mind Boggling Advancement in AI-Human Communication

<ul>
<li>After a disappointing earnings results in 4Q 2022, we believe LG Electronics (066570 KS) is a SELL candidate.</li>
<li>The decline in housing prices in major countries such as the US and South Korea have negatively impacted consumers' purchases of consumer appliances. </li>
<li>With the consensus that is likely to cut their operating profit estimates significantly in 2023, we think that LG Electronics' shares could fall another 20-25% over the next year. </li>
</ul>


After a disappointing earnings results in 4Q 2022, we believe LG Electronics (066570 KS) is a SELL candidate.
The decline in housing prices in major countries such as the US and South Korea have negatively impacted consumers' purchases of consumer appliances. 
With the consensus that is likely to cut their operating profit estimates significantly in 2023, we think that LG Electronics' shares could fall another 20-25% over the next year. 


LG Electronics: A SELL Candidate Amid Difficult Business Condition for Consumer Electronics in 2023

Cross Asset Strategy

<ul>
<li>On 28 November, the Korean FSC made a public presentation of potential changes to regulations related to dividends, IPOs, and foreign investors registration which could reduce the long-term "Korea Discount." </li>
<li>FSC has announced that it will improve the dividend payment process of listed Korean companies by benchmarking more advanced countries such as the United States.</li>
<li>With regards to IPOs in Korea, the potential expansion of the price limit on the first day of trading post IPO from 90-200% (current) to 60-400% (revised) has been proposed.</li>
</ul>


On 28 November, the Korean FSC made a public presentation of potential changes to regulations related to dividends, IPOs, and foreign investors registration which could reduce the long-term "Korea Discount." 
FSC has announced that it will improve the dividend payment process of listed Korean companies by benchmarking more advanced countries such as the United States.
With regards to IPOs in Korea, the potential expansion of the price limit on the first day of trading post IPO from 90-200% (current) to 60-400% (revised) has been proposed.


Korean Financial Regulators Propose Changes to Dividends, IPOs, & Foreign Investor Registration

<ul>
<li>In this insight, we discuss a pair trade between LG Corp (003550 KS) (go long) and LG Electronics (066570 KS) (go short).</li>
<li>LG Electronics is likely to have continued weakening results, due to rising interest rates on the household disposable income in major countries.</li>
<li>Our base case valuation analysis of LG Corp suggests an implied price of 93,905 won per share, representing 19% upside from current levels.</li>
</ul>


In this insight, we discuss a pair trade between LG Corp (003550 KS) (go long) and LG Electronics (066570 KS) (go short).
LG Electronics is likely to have continued weakening results, due to rising interest rates on the household disposable income in major countries.
Our base case valuation analysis of LG Corp suggests an implied price of 93,905 won per share, representing 19% upside from current levels.


A Pair Trade Between LG Corp & LG Electronics

South Korea

LG Electronics Inc. manufactures and markets digital display equipment and home appliances. The Company produces and markets flat panel televisions, A/V products, washing machines, air conditioners and refrigerators as well as telecommunications equipment such as smart phones and tablets.

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LG Electronics (066570 KS)

Korean Holdcos Vs Opcos Gap Spreads Opportunities in 1Q 2023

In this insight, we highlight the pricing gap divergences of the major Korean holdcos and opcos in 1Q 2023. We highlight 33 pair trades that...

Douglas Kim

ChatGPT: A Mind Boggling Advancement in AI-Human Communication

ChatGPT is a mind boggling advancement in AI-human communication. I recommend EVERY reader of this insight to try out this service.

Douglas Kim

LG Electronics: A SELL Candidate Amid Difficult Business Condition for Consumer Electronics in 2023

After a disappointing earnings results in 4Q 2022, we believe LG Electronics (066570 KS) is a SELL candidate. We believe that LG Electronics'...

Douglas Kim

Korean Financial Regulators Propose Changes to Dividends, IPOs, & Foreign Investor Registration

The Korean FSC made a public presentation of potential changes to regulations related to dividends, IPOs, and foreign investors registration which...

Douglas Kim

A Pair Trade Between LG Corp & LG Electronics

In this insight, we discuss a pair trade between LG Corp (003550 KS) (go long) and LG Electronics (066570 KS) (go short).

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)