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>Today, Lee Seo-hyun returned as the top executive at Samsung C&amp;T, which officially announced her as the head of its Strategic Planning Division.</li>
<li>Her return to Samsung C&amp;T might not just be a simple comeback – it could be seen as a setup for some big changes within the company.</li>
<li>Considering Samsung C&amp;T's Value-up Momentum, aligning with Lee Seo-hyun's return, we must position for potential price impact, focusing on portfolio streamlining.</li>
</ul>


Today, Lee Seo-hyun returned as the top executive at Samsung C&amp;T, which officially announced her as the head of its Strategic Planning Division.
Her return to Samsung C&amp;T might not just be a simple comeback – it could be seen as a setup for some big changes within the company.
Considering Samsung C&amp;T's Value-up Momentum, aligning with Lee Seo-hyun's return, we must position for potential price impact, focusing on portfolio streamlining.


Lee Seo-Hyun's Unexpected Return: Implications for Samsung's Conglomerate Dynamics

<ul>
<li>From July, Korea's listed firms will disclose value enhancement plans. Korea's NPS may exclude non-compliant firms, pending official response, though internal review suggests likely implementation.</li>
<li>It's crucial to know portfolio stocks for proactive positioning. A setup targeting potential exclusion from NPS's ESG funds due to post-July compliance must be designed.</li>
<li>Managers often use KRX ESG Leaders 150, aligning portfolios with it. Thus, it's crucial to use this list for post-July compliance monitoring and to adapt setups for NPS's flow impacts.</li>
</ul>


From July, Korea's listed firms will disclose value enhancement plans. Korea's NPS may exclude non-compliant firms, pending official response, though internal review suggests likely implementation.
It's crucial to know portfolio stocks for proactive positioning. A setup targeting potential exclusion from NPS's ESG funds due to post-July compliance must be designed.
Managers often use KRX ESG Leaders 150, aligning portfolios with it. Thus, it's crucial to use this list for post-July compliance monitoring and to adapt setups for NPS's flow impacts.


Exploring Trading Setups Utilizing NPS's ESG Fund Flows After July

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<ul>
<li>Samsung C&amp;T announced that it plans to cancel treasury shares including 7,807,563 shares of common stock (4.2% of outstanding shares) and 159,835 shares of preferred stock (9.8% of outstanding shares). </li>
<li>This would represent share cancellation amount of 1.1 trillion won and 17 billion won for Samsung C&amp;T (028260 KS) (common) and Samsung C&amp;T (02826K KS) (preferred).</li>
<li>For the remaining treasury shares, the company will cancel 7.8 million shares in 2025 and 7.8 million shares in 2026. </li>
</ul>


Samsung C&amp;T announced that it plans to cancel treasury shares including 7,807,563 shares of common stock (4.2% of outstanding shares) and 159,835 shares of preferred stock (9.8% of outstanding shares). 
This would represent share cancellation amount of 1.1 trillion won and 17 billion won for Samsung C&amp;T (028260 KS) (common) and Samsung C&amp;T (02826K KS) (preferred).
For the remaining treasury shares, the company will cancel 7.8 million shares in 2025 and 7.8 million shares in 2026. 


Samsung C&T: Share Cancellation of Nearly 1.1 Trillion Won Worth of Treasury Shares in 2024

<ul>
<li>Samsung Asset Management announced today that it will be launching the first Corporate Value Up ETF on 27 February. It will focus on low PBR and positive cash flow generators.</li>
<li>This ETF which will be called KoAct Dividend Growth Active ETF. There are about 45 stocks that are expected to be included in this ETF. </li>
<li>Among the 92 companies in KOSPI 200 that are trading at less than 1x PBR, those that generate positive free cash flow are outperforming significantly. </li>
</ul>


Samsung Asset Management announced today that it will be launching the first Corporate Value Up ETF on 27 February. It will focus on low PBR and positive cash flow generators.
This ETF which will be called KoAct Dividend Growth Active ETF. There are about 45 stocks that are expected to be included in this ETF. 
Among the 92 companies in KOSPI 200 that are trading at less than 1x PBR, those that generate positive free cash flow are outperforming significantly. 


The Launch of 1st Corporate Value Up ETF on 27 February - Focus on Low PBR and Cash Flow

<ul>
<li>We discuss the surging share cancellations in Korea in 2024. As of 8 February 2024, Korean companies have announced 3.3 trillion won worth of shares to be completed this year. </li>
<li>At current blistering pace, it is likely that the share cancellations in Korea could jump at least 100% YoY to jump more than 10 trillion won in 2024. </li>
<li>Some of the leading Korean companies including Samsung C&amp;T and KT&amp;G that have announced share cancellations this year continue to outperform the market on average. </li>
</ul>


We discuss the surging share cancellations in Korea in 2024. As of 8 February 2024, Korean companies have announced 3.3 trillion won worth of shares to be completed this year. 
At current blistering pace, it is likely that the share cancellations in Korea could jump at least 100% YoY to jump more than 10 trillion won in 2024. 
Some of the leading Korean companies including Samsung C&amp;T and KT&amp;G that have announced share cancellations this year continue to outperform the market on average. 


Korea: Surging Share Cancellations in 2024

South Korea

Samsung C&T Corporation conducts diversified business support services and resort operation activities. The Company offers a range of services in areas including clothing retail, construction, energy, real estate, food service, and resort accommodations. Samsung C&T also operates a resort with amusement rides, a zoo, water park, golf clubs, and restaurants.

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Samsung C&T (028260 KS)

Lee Seo-Hyun's Unexpected Return: Implications for Samsung's Conglomerate Dynamics

The sudden comeback of Lee Seo-hyun to the forefront of Samsung's management implies potential changes in the dynamics of separating Samsung's...

Sanghyun Park

Exploring Trading Setups Utilizing NPS's ESG Fund Flows After July

This post delves into NPS's ESG fund flows post-July, aligned with the Value-up schedule, and explores proactive trading setups leveraging these...

Sanghyun Park

The Launch of 1st Corporate Value Up ETF on 27 February - Focus on Low PBR and Cash Flow

Samsung Asset Management announced today that it will be launching the first Corporate Value Up ETF on 27 February. This ETF which will be called...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Lee Seo-Hyun's Unexpected Return: Implications for Samsung's Conglomerate Dynamics

The sudden comeback of Lee Seo-hyun to the forefront of Samsung's management implies potential changes in the dynamics of separating Samsung's...

Sanghyun Park

Exploring Trading Setups Utilizing NPS's ESG Fund Flows After July

This post delves into NPS's ESG fund flows post-July, aligned with the Value-up schedule, and explores proactive trading setups leveraging these...

Sanghyun Park

Samsung C&T: Share Cancellation of Nearly 1.1 Trillion Won Worth of Treasury Shares in 2024

Samsung C&T will hold an AGM on 15 March, at which there will be a showdown with several overseas activist investors. One of the interesting twist...

Douglas Kim

The Launch of 1st Corporate Value Up ETF on 27 February - Focus on Low PBR and Cash Flow

Samsung Asset Management announced today that it will be launching the first Corporate Value Up ETF on 27 February. This ETF which will be called...

Douglas Kim

Korea: Surging Share Cancellations in 2024

We discuss the surging share cancellations in Korea in 2024. As of 8 February 2024, Korean companies have announced 3.3 trillion won worth of...

Douglas Kim