Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Top Seven Korean Stocks for Corporate Activists in 2019

Korea National Pension Fund & Voting Rights of Outsourced Korean Equity Investments

Why Is HanjinKal Raising 160 Billion Won Worth of Debt? To Buy Back Its Shares?

Thematic (Sector/Industry)

On March 12th, the Korea National Pension Fund Service (NPS) provided a list of 23 companies where it plan to exercise its voting rights in their AGMs in the next two weeks. Of these 23 companies, the NPS is opposing 11 companies on at least one of their agenda items of their upcoming AGMs, including opposing re-appointment of specific members in the BOD/senior management of these companies.In the past, NPS' opposing to certain agendas of the listed companies in Korea in their AGMs were typically announced about a couple of weeks AFTER the AGMs were completed. However, starting in 2019, NPS has changed its policy of announcing which companies they will exercise their voting rights (including the ones they oppose) to prior to the AGM dates. Interesting, the 11 companies where NPS has opposed various agendas of the AGMs have strongly outperformed the market this year. These 11 companies' share prices are up on average 8.6% YTD versus KOSPI which is up only 4.7% during the same period.

On March 12th, the Korea National Pension Fund Service (NPS) provided a list of 23 companies where it plan to exercise its voting rights in their AGMs in the next two weeks. Of these 23 companies, the NPS is opposing 11 companies on at least one of their agenda items of their upcoming AGMs, including opposing re-appointment of specific members in the BOD/senior management of these companies.In the past, NPS' opposing to certain agendas of the listed companies in Korea in their AGMs were typically announced about a couple of weeks AFTER the AGMs were completed. However, starting in 2019, NPS has changed its policy of announcing which companies they will exercise their voting rights (including the ones they oppose) to prior to the AGM dates. Interesting, the 11 companies where NPS has opposed various agendas of the AGMs have strongly outperformed the market this year. These 11 companies' share prices are up on average 8.6% YTD versus KOSPI which is up only 4.7% during the same period. 

Hyundai Home Shopping Network (057050 KS)

Hyundai Engineering & Construction (000720 KS)

Korea National Pension Fund Announces a List of 11 Companies They Oppose in Upcoming AGMs