Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Event-Driven

<ul>
<li>We review the major tender offers of Korean companies in 2023. Some of the major M&amp;A tender offers that have closed this year include Osstem Implant and SM Entertainment.</li>
<li>Among the 15 companies targeted for tender offers, there are 5 companies including Osstem Implant, SM Entertainment, Lutronic Corp where the purpose of the tender offers is for M&amp;A. </li>
<li>There were a total of 18 companies that submitted tender offer results announcements in 2023 (as of 11 December), up 157% YoY.</li>
</ul>


We review the major tender offers of Korean companies in 2023. Some of the major M&amp;A tender offers that have closed this year include Osstem Implant and SM Entertainment.
Among the 15 companies targeted for tender offers, there are 5 companies including Osstem Implant, SM Entertainment, Lutronic Corp where the purpose of the tender offers is for M&amp;A. 
There were a total of 18 companies that submitted tender offer results announcements in 2023 (as of 11 December), up 157% YoY.


A Review of Tender Offers of Korean Companies in 2023

Equity Bottom-Up

<ul>
<li>In this insight, we provided the most recent ranking of the top 100 most popular YouTube channels in Korea (according to Socialblade website).</li>
<li>The top 100 YouTube channels in Korea have received 390.7 billion in total views as of June 2023. Of these total views, K-Pop channels views accounted for 46.4% share.</li>
<li>YouTube has been meaningfully taking away market share from Kakao and Naver in the past three years. KakaoTalk's MAU was 41.5 million in May 2023. YouTube was a close second.</li>
</ul>


In this insight, we provided the most recent ranking of the top 100 most popular YouTube channels in Korea (according to Socialblade website).
The top 100 YouTube channels in Korea have received 390.7 billion in total views as of June 2023. Of these total views, K-Pop channels views accounted for 46.4% share.
YouTube has been meaningfully taking away market share from Kakao and Naver in the past three years. KakaoTalk's MAU was 41.5 million in May 2023. YouTube was a close second.


Analysis of Top 100 Korean YouTube Channels + Significant Market Share Gains for YouTube in Korea

Head of ESG Intelligence, Who's Good

Soo Young Kim

Head of ESG Intelligence

ASIA’S FIRST AI-DRIVEN ESG INSIGHT PROVIDER

Who's Good

Using AI technologies and public data, Who’s Good provides objective and up-to-date corporate ESG insights on Asian companies.

WHY WHO'S GOOD

* Time-sensitive: Time is the essence in finance. Artificial Intelligence (AI) can process vast amount of information in a short span of time. Our powerful algorithm offers real-time in-depth corporate ESG analysis with out compromising its quality.
* Objective: We turned to public big data and news big data as source to base our analysis on and to preserve impartiality. We leverage 350 public big data sources and 93 news data sources in Korea to uncover insights.
* Insightful: Who’s Good ESG analysis coverage extends to all listed and non-listed companies in Korea. This allows us to provide a comprehensive insight into the Korean market.
* Global approach to ESG: Our ESG research framework is built on international standards and principles including UN Global Compact, ISO 26000, ICGN and CFA Guidelines on Corporate Governance to meet the global standards.

<ul>
<li>JYP Entertainment (035900), one of the major entertainment companies in Korea, just released its very first ESG report in the industry</li>
<li>As climate change issues grow among fandom, likely to see growing risk for environmental issues. For social issues, anti-competitive practices and consumer issues became material</li>
<li>'Business Ethics' issues at YG Entertainment (122870) has pulled down its stock price in 2019, causing its main artist to disband</li>
</ul>


JYP Entertainment (035900), one of the major entertainment companies in Korea, just released its very first ESG report in the industry
As climate change issues grow among fandom, likely to see growing risk for environmental issues. For social issues, anti-competitive practices and consumer issues became material
'Business Ethics' issues at YG Entertainment (122870) has pulled down its stock price in 2019, causing its main artist to disband


K-Pop Industry Finally Starts to Pay Attention to ESG

Douglas Research Advisory

<ul>
<li>As a result of the arrest of Kim Beom-Su, the near term impact on the Kakao companies (including Kakao Corp, Kakao Bank, Kakao Pay, and Kakao Games) is clearly negative.</li>
<li>Given that this is a highly publicized event, it is likely that this legal case will be PROLONGED and finally decided by the Supreme Court which could take several years.</li>
<li>Some of the scenarios include Kakao Group selling partial stakes in Kakao Bank and SM Entertainment but this is likely to get dragged on, resulting in further uncertainty.</li>
</ul>


As a result of the arrest of Kim Beom-Su, the near term impact on the Kakao companies (including Kakao Corp, Kakao Bank, Kakao Pay, and Kakao Games) is clearly negative.
Given that this is a highly publicized event, it is likely that this legal case will be PROLONGED and finally decided by the Supreme Court which could take several years.
Some of the scenarios include Kakao Group selling partial stakes in Kakao Bank and SM Entertainment but this is likely to get dragged on, resulting in further uncertainty.


Kakao Group Founder Kim Beom-Su Gets Arrested - What's Next?

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.

<ul>
<li>Kakao's Kim Beom-su has been arrested over alleged stock price manipulation in the SM Entertainment buyout, marking a new peak in the company's legal troubles.</li>
<li>Kakao Corp’s stock might drop due to the absence of a key figure. KakaoBank could also struggle from uncertainty about its largest shareholder and weakened business ties.</li>
<li>Kakao’s potential sale of SM Entertainment shares could initially hurt the stock price, but potential bidding interest might boost it.</li>
</ul>


Kakao's Kim Beom-su has been arrested over alleged stock price manipulation in the SM Entertainment buyout, marking a new peak in the company's legal troubles.
Kakao Corp’s stock might drop due to the absence of a key figure. KakaoBank could also struggle from uncertainty about its largest shareholder and weakened business ties.
Kakao’s potential sale of SM Entertainment shares could initially hurt the stock price, but potential bidding interest might boost it.


Kakao's Kim Beom-Su Arrested: Analyzing Its Impact on Related Companies

South Korea

S.M.Entertainment Co. plans, produces, promotes, and markets Korean rock and roll music in several formats, such as compact discs (CD), concert tours, television productions, and music videos.  The Company also operates artist management business as well as licensing and copyright business from the company's music records.

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S.M.Entertainment Co (041510 KS)

A Review of Tender Offers of Korean Companies in 2023

We review the major tender offers of Korean companies in 2023. There were a total of 18 companies that submitted tender offer results announcements...

Douglas Kim

K-Pop Industry Finally Starts to Pay Attention to ESG

This insight explains how K-pop industry behaves from the ESG perspective and defines the types of ESG issues in the industry, based on news text...

Soo Young Kim

Kakao Group Founder Kim Beom-Su Gets Arrested - What's Next?

As a result of the arrest of Kim Beom-Su, the near term impact on the Kakao companies (including Kakao Corp, Kakao Bank, Kakao Pay, and Kakao...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

A Review of Tender Offers of Korean Companies in 2023

We review the major tender offers of Korean companies in 2023. There were a total of 18 companies that submitted tender offer results announcements...

Douglas Kim

Analysis of Top 100 Korean YouTube Channels + Significant Market Share Gains for YouTube in Korea

In this insight, we analyze the most recent ranking of the top 100 most popular YouTube channels in Korea (according to Socialblade website).

Douglas Kim

K-Pop Industry Finally Starts to Pay Attention to ESG

This insight explains how K-pop industry behaves from the ESG perspective and defines the types of ESG issues in the industry, based on news text...

Soo Young Kim

Kakao Group Founder Kim Beom-Su Gets Arrested - What's Next?

As a result of the arrest of Kim Beom-Su, the near term impact on the Kakao companies (including Kakao Corp, Kakao Bank, Kakao Pay, and Kakao...

Douglas Kim

Kakao's Kim Beom-Su Arrested: Analyzing Its Impact on Related Companies

Kakao Chairman Kim Beom-su has been arrested for alleged stock price manipulation in last year’s SM Entertainment buyout. This post examines the...

Sanghyun Park