Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

Korean companies are showing increasing willingness to buyback shares. Korea Stock Exchange announced that from beginning of this year to as of 27 July 2016, there were 64 listed companies that announced share buybacks, up 36% YoY.<div class="content-highlight">The alpha generation for share buybacks in Korea can be found in KOSDAQ listed companies. Of the 64 companies that announced share buybacks, 35 of them were listed in KOSDAQ. (The average price performance of these 35 companies were 8.5% from beginning of this year as…</div>

Korean companies are showing increasing willingness to buyback shares. Korea Stock Exchange announced that from beginning of this year to as of 27 July 2016, there were 64 listed companies that announced share buybacks, up 36% YoY.The alpha generation for share buybacks in Korea can be found in KOSDAQ listed companies. Of the 64 companies that announced share buybacks, 35 of them were listed in KOSDAQ. (The average price performance of these 35 companies were 8.5% from beginning of this year as…

Alpha Generation & Share Buybacks in Korea

In this report, we highlight 39 companies that have announced share buybacks in the past three months (Dec 2015 - Feb 2016) in Korea. We provide our top 9 insights and analysis regarding some of the major factors that are influencing the share buybacks in Korea. 1. Samsung Group is spearheading the entire share buybacks movement in Korea. Of the 39 companies we have identified that are conducting share buybacks in Korea, four of them are related to the Samsung Group, including <a href="https://www.smartkarma.com/entities/191" target="_blank" data-smartkarma-citation="entities:191">Samsung Electronics Co Ltd</a> , <a href="https://www.smartkarma.com/entities/511" target="_blank" data-smartkarma-citation="entities:511">Samsung Fire &amp; Marine Ins</a> , <a href="https://www.smartkarma.com/entities/512" target="_blank" data-smartkarma-citation="entities:512">Samsung Securities Co Ltd</a> , and <a href="https://www.smartkarma.com/entities/107" target="_blank" data-smartkarma-citation="entities:107">Hotel Shilla Co Ltd</a> . The total amount of share buybacks that were announced by these four Samsung affiliated companies in the past three months were 3.4 trillion won, representing 84% of the total share buybacks amount of the 39 companies in our list. We believe that the Samsung Group is accelerating its efforts to improve corporate governance (through measures such as share buybacks), faster than some of the other chaebols in Korea. 2. More companies that are buying back shares in Korea are also CANCELLING THEM. of the 39 companies in our list, eight of them (including <a href="https://www.smartkarma.com/entities/191" target="_blank" data-smartkarma-citation="entities:191">Samsung Electronics Co Ltd</a>,) are cancelling their shares. Historically, most Korean companies refused to cancel their shares after completing share buyback. 3. In general, the companies that have been cancelling their shares that they are buying back (eight companies we mentioned in #2) have been outperforming the market.  4. A less well known, medium sized Korean group competing in the specialty chemical sector called Miwon (including <a href="https://www.smartkarma.com/entities/18109" target="_blank" data-smartkarma-citation="entities:18109">Miwon Chemicals Co Ltd</a> , <a href="https://www.smartkarma.com/entities/5404" target="_blank" data-smartkarma-citation="entities:5404">Miwon Specialty Chemical Co</a> , and <a href="https://www.smartkarma.com/entities/13416" target="_blank" data-smartkarma-citation="entities:13416">Miwon Commercial Co Ltd</a> ) have been aggressively buying back shares and cancelling them boosting shareholder value.

In this report, we highlight 39 companies that have announced share buybacks in the past three months (Dec 2015 - Feb 2016) in Korea. We provide our top 9 insights and analysis regarding some of the major factors that are influencing the share buybacks in Korea. 1. Samsung Group is spearheading the entire share buybacks movement in Korea. Of the 39 companies we have identified that are conducting share buybacks in Korea, four of them are related to the Samsung Group, including Samsung Electronics Co Ltd , Samsung Fire &amp; Marine Ins , Samsung Securities Co Ltd , and Hotel Shilla Co Ltd . The total amount of share buybacks that were announced by these four Samsung affiliated companies in the past three months were 3.4 trillion won, representing 84% of the total share buybacks amount of the 39 companies in our list. We believe that the Samsung Group is accelerating its efforts to improve corporate governance (through measures such as share buybacks), faster than some of the other chaebols in Korea. 2. More companies that are buying back shares in Korea are also CANCELLING THEM. of the 39 companies in our list, eight of them (including Samsung Electronics Co Ltd,) are cancelling their shares. Historically, most Korean companies refused to cancel their shares after completing share buyback. 3. In general, the companies that have been cancelling their shares that they are buying back (eight companies we mentioned in #2) have been outperforming the market.  4. A less well known, medium sized Korean group competing in the specialty chemical sector called Miwon (including Miwon Chemicals Co Ltd , Miwon Specialty Chemical Co , and Miwon Commercial Co Ltd ) have been aggressively buying back shares and cancelling them boosting shareholder value.

South Korea

Kumho Petrochemical Co., Ltd. manufactures synthetic rubbers, synthetic resins, and rubber chemicals.  The Company's products include styrene butadiene, acrylonitrile butadiene, polystyrene, expandable polystyrene, and antioxidant.  Kumho Petrochemical provides construction, transportation, and financial services through its subsidiaries.

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Alpha Generation & Share Buybacks in Korea

Korean companies are showing increasing willingness to buyback shares. Korea Stock Exchange announced that from beginning of this year to as of 27...

Douglas Kim

Share Buybacks in Korea - Top 9 Insights

In this report, we highlight 39 companies that have announced share buybacks in the past three months (Dec 2015 - Feb 2016) in Korea. We provide...

Douglas Kim