Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following sectors:
- Technology (E-commerce, SaaS, Internet)
- Consumer 
- Special Situations/Deep Value Plays
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

ESG Analysis of a Korean E-Commerce Giant: Did Coupang's ESG Performance Really Improve?

An Update to Our Pair Trade Between Emart & Coupang

Coupang(CPNG US) Rating Change: Margin Still Has Upside, Upgrade to BUY

Coupang 1Q 2022 Earnings: Beats Consensus Earnings Estimates (A High Conviction Turnaround Play)

Softbank Sells $1.0 Billion Additional Worth of Coupang: Continued Overhang Concerns

Coupang: Four Major Factors to Drive Higher Profit Margins in 2022

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Bottom-Up

<ul>
<li>In this insight, we discuss a pair trade between E Mart Inc (long) and Coupang (short). At current valuations and business outlook, we like the risk/reward of this pair trade.</li>
<li>The end of the mandatory shut down rules on major hypermarkets is likely to have a major positive impact on Emart and negative impact on Coupang and Kurly.</li>
<li>Although this has not been made into law, we think there is relatively high probability that this will eventually be made into law sometime this year. </li>
</ul>


In this insight, we discuss a pair trade between E Mart Inc (long) and Coupang (short). At current valuations and business outlook, we like the risk/reward of this pair trade.
The end of the mandatory shut down rules on major hypermarkets is likely to have a major positive impact on Emart and negative impact on Coupang and Kurly.
Although this has not been made into law, we think there is relatively high probability that this will eventually be made into law sometime this year. 


A Pair Trade Between Emart & Coupang (Potential End of Mandatory Shut Down Rules for Hypermarkets)