Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<ul>
<li>They’re making it easier to spot stocks benefiting from policy shifts. Lee Jae-myung’s camp is giving more detail upfront, with a focus on FuriosaAI and related listed stocks.</li>
<li>If cumulative voting passes, expect a pop in stocks with governance issues, activist interest, or large NPS stakes, like Hyosung affiliates, Doosan, HL Mando, and POSCO Holdings.</li>
<li>They also aim to give parent shareholders first crack at spun-off subsidiaries going public and require buyback cancellations, likely benefiting SK and LS Group affiliates, Samsung Electronics, and POSCO Holdings.</li>
</ul>


They’re making it easier to spot stocks benefiting from policy shifts. Lee Jae-myung’s camp is giving more detail upfront, with a focus on FuriosaAI and related listed stocks.
If cumulative voting passes, expect a pop in stocks with governance issues, activist interest, or large NPS stakes, like Hyosung affiliates, Doosan, HL Mando, and POSCO Holdings.
They also aim to give parent shareholders first crack at spun-off subsidiaries going public and require buyback cancellations, likely benefiting SK and LS Group affiliates, Samsung Electronics, and POSCO Holdings.


Lee Jae-Myung’s Camp Just Dropped Their Latest Market Stimulus Play

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>In this insight, we discuss a new catalyst on the share price of LS Corp (006260 KS) which is the purchase of its shares by the Hoban Group. </li>
<li>Hoban Group has recently purchased shares of LS Corp. Although the exact percentage of shares has yet to be made public, it is estimated to be less than 3%. </li>
<li>LS Corp could improve shareholder returns. Plus, the ongoing litigation between Taihan Electric Wire and LS Cable may be the real reason why Hoban decided to invest in LS Corp. </li>
</ul>


In this insight, we discuss a new catalyst on the share price of LS Corp (006260 KS) which is the purchase of its shares by the Hoban Group. 
Hoban Group has recently purchased shares of LS Corp. Although the exact percentage of shares has yet to be made public, it is estimated to be less than 3%. 
LS Corp could improve shareholder returns. Plus, the ongoing litigation between Taihan Electric Wire and LS Cable may be the real reason why Hoban decided to invest in LS Corp. 


Hoban Group Purchases LS Corp Shares - Is This a Hanjin Kal 2.0?

Equity Bottom-Up

<ul>
<li>On 6 March, LS Group Chairman Koo Ja-Eun publicly stated "If you think duplicate listings are a problem, then just don’t buy the stocks after the listing.” 
</li>
<li>Chairman Koo's comment was not in the best interest of the major LS Group companies including LS Electric and LS Corp that are publicly traded.</li>
<li>LS Group is preparing to list at least five unlisted affiliates including LS E-Link, Essex Solutions, LS Cable, LS MnM, and KOC Electric  in the next 1-3 years. </li>
</ul>


On 6 March, LS Group Chairman Koo Ja-Eun publicly stated "If you think duplicate listings are a problem, then just don’t buy the stocks after the listing.” 

Chairman Koo's comment was not in the best interest of the major LS Group companies including LS Electric and LS Corp that are publicly traded.
LS Group is preparing to list at least five unlisted affiliates including LS E-Link, Essex Solutions, LS Cable, LS MnM, and KOC Electric  in the next 1-3 years. 


LS Corp: Chairman's Words Have Big Impact on Share Price

<ul>
<li>On 22 April, LS Cable &amp; System announced that it plans to acquire up to 70 billion won worth of Gaon Cable.</li>
<li>If LS Cable purchases 70 billion won worth of Gaon Cable's shares (7.4% stake at current price), its stake in the company would rise to 89%. </li>
<li>There are numerous options for Gaon Cable going forward including privatization or a merger with LS Cable. </li>
</ul>


On 22 April, LS Cable &amp; System announced that it plans to acquire up to 70 billion won worth of Gaon Cable.
If LS Cable purchases 70 billion won worth of Gaon Cable's shares (7.4% stake at current price), its stake in the company would rise to 89%. 
There are numerous options for Gaon Cable going forward including privatization or a merger with LS Cable. 


LS Cable Plans to Purchase Up To 70 Billion Won of Gaon Cable - Will It Take It Private?

<ul>
<li>Lee Jae-Myung (who is leading in most election polls) has mentioned cancellation of treasury shares as one of the key campaign pledges to improve the corporate governance in Korea.</li>
<li>If the cancellation of these shares becomes mandatory, the SK Group and Lotte Group will be most affected. </li>
<li>We provide a list of 21 stocks in KOSPI200 that have the highest ratios for treasury shares/total outstanding shares. These stocks could receive more attention in the next several months. </li>
</ul>


Lee Jae-Myung (who is leading in most election polls) has mentioned cancellation of treasury shares as one of the key campaign pledges to improve the corporate governance in Korea.
If the cancellation of these shares becomes mandatory, the SK Group and Lotte Group will be most affected. 
We provide a list of 21 stocks in KOSPI200 that have the highest ratios for treasury shares/total outstanding shares. These stocks could receive more attention in the next several months. 


Lee Jae-Myung's Campaign Pledge - Cancellation of Treasury Shares

South Korea

LS Corp is a holding company, which operated subsidiaries including LS Industrial Systems, LS Cable, LS-Nikko Copper and LS Mtron.

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LS Corp (006260 KS)

Lee Jae-Myung’s Camp Just Dropped Their Latest Market Stimulus Play

This post takes a look at the new stock market stimulus policy Lee Jae-myung’s camp just announced, breaking down the main ideas they’re pushing to...

Sanghyun Park

Hoban Group Purchases LS Corp Shares - Is This a Hanjin Kal 2.0?

Hoban Group has recently purchased shares of LS Corp. Although the exact percentage of shares has yet to be made public, it is estimated to be less...

Douglas Kim

LS Cable Plans to Purchase Up To 70 Billion Won of Gaon Cable - Will It Take It Private?

LS Cable & System announced that it plans to acquire up to 70 billion won of Gaon Cable. There are numerous options for Gaon Cable going forward...

Douglas Kim

Lee Jae-Myung's Campaign Pledge - Cancellation of Treasury Shares

Lee Jae-Myung (who is leading in most election polls) has mentioned cancellation of treasury shares as one of the key campaign pledges to improve...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)