Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

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.

Cross Asset Strategy

<ul>
<li>Henry Kissinger's statement that Ukraine must give Russia some territory could be a crucial inflection point in the global markets.</li>
<li>Most of the market rebound in KOSPI in the past 100 days have occurred in the past one week.</li>
<li>The rally in global equity markets in the past week seems to suggest some higher probability that the war in Ukraine could be ended in the next several months. </li>
</ul>


Henry Kissinger's statement that Ukraine must give Russia some territory could be a crucial inflection point in the global markets.
Most of the market rebound in KOSPI in the past 100 days have occurred in the past one week.
The rally in global equity markets in the past week seems to suggest some higher probability that the war in Ukraine could be ended in the next several months. 


Kissinger's Warning that Ukraine Must Give Russia Territory - A Key Inflection Point for KOSPI?

South Korea

OCI Holdings Company Ltd. operates chemical business. The Company manufactures inorganic chemicals, petroleum and coal chemicals, fine chemicals, renewable energy and insulation materials. OCI Holdings markets its products primarily throughout Korea with limited overseas.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

OCI Holdings (010060 KS)

Kissinger's Warning that Ukraine Must Give Russia Territory - A Key Inflection Point for KOSPI?

Henry Kissinger's statement that Ukraine must give Russia some territory could be a crucial inflection point in the global markets. Global equity...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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

Kissinger's Warning that Ukraine Must Give Russia Territory - A Key Inflection Point for KOSPI?

Henry Kissinger's statement that Ukraine must give Russia some territory could be a crucial inflection point in the global markets. Global equity...

Douglas Kim