Mirae Asset Securities' Korean Stock Picks (November-December 2023)
Mirae Asset Securities' Korean Stock Picks (November-December 2023)
SK Hynix, Krafton, Wemade, Fila Holdings, KEPCO, HMM, InBody, Pan Ocean, CS Wind Corp, SK Telecom, KT Corp, CJ Logistics, Hanwha Systems, NAVER, Hanwha Aerospace, Korean Air, Doosan Fuel Cell, etc.
Mirae Asset Securities (KRX: 006800 / 520003 / 00680K) is the largest investment banking and stock brokerage company by market capitalization in South Korea. They come out with (and post on their website) a steady stream of free research pieces - namely about Korean stock picks.
Stocks covered by their research during the months of November and December and (in the order they covered them from the most recent to the earliest in the month) in this post include:
SK Hynix; Creative & Innovative System Corp; DE&T Co Ltd; Krafton; Wemade; OCI Holdings; LIG Nex1 Co; HD Hyundai Electric Co Ltd; Chong Kun Dang Holdings; Nexon Games; PearlAbyss Corp; Neowiz; NCSoft Corp; Netmarble Corp; CS Bearing Co; SK Oceanplant Co Ltd; Ray Co Ltd; SOCAR; Fila Holdings Corp; Dio Corp; KEPCO; HMM; InBody; Pan Ocean; SK Biopharmaceuticals; People & Technology; Hanon Systems; Lotte Chemical; Vatech; Dentium; Korea Investment Holdings; Kakao; CS Wind Corp; SK Telecom; Kakao Games; KakaoBank; Classys; Korea Aerospace Industries; LX International; KT Corp; LG Uplus; i-SENS; CJ Logistics; Kiwoom Securities; Hankook Tire & Technology; Hanwha Systems Co Ltd; Joy City Corp; NAVER; Kumho Petrochemical; SK Innovation; Hanwha Aerospace; Korean Air; Vieworks; Samsung Securities; Doosan Fuel Cell; Hanmi Pharma; ST Pharm; Hanwha Solutions; Yuhan Corp; Dong-A ST Co Ltd; BNK Financial Group; Amorepacific Corp; Samsung SDI; SKC; Samsung Electronics; & S-Oil Corp
The Korea Composite Stock Price Index or KOSPI, the index of all common stocks traded on the Korean Exchange, would be off its post COVID highs:
However and starting this year under the first phase of the “Gradual Expansion of English Disclosures” plan, KOSPI-listed companies with assets exceeding 10 trillion won (US$7.6 billion) will need to submit disclosures in English on DART.
From 2026 onward, large-cap listed companies will progressively be obligated to disclose information in English. This should help the Korean market to attract more foreign investors and fund managers.
Mirae Asset Securities publishes their Korean stock pick research in English. Note that when I click on their website, I receive NO pop-up asking what sort of investor I am or my location; but there is this disclaimer at the end of each of the research report PDF files:
This post will NOT be quoting directly from the website or research documents themselves (beyond giving the title of the report - please keep the above disclosures in mind).
Keeping their disclaimers in mind, you might want to open the Research Report section of their website and select Company Analysis on your phone or in another tab or browser to look over the short titles of their research pieces (summarizing their thoughts and linked to a couple paragraph summaries on their website) and their advice about the stock picks.
However, their summaries and the more detailed research contained in the PDF files do NOT include good long term technical charts, descriptions of what the company does or links to the stock pick’s IR page, current quote, or most recent statistics - all pet peeves of mine when not made available.
To make your life easier, this post includes:
A heading with the stock name.
A quick description of the stock pick with links to the IR page and stock quote(s) on Yahoo! Finance.
A link to any Wikipedia page (for what it might be worth…)
The title of the report linked to the short summary brief on the Mirae Asset Securities website.
The link to the Mirae Asset Securities research report PDF file about the stock pick.
Forward or trailing P/E and dividend yields linked back to the Yahoo! Finance statistics page.
The latest long term technical chart linked back to Yahoo! Finance.
And as always, this post is provided for informational purposes only (and again, to make your life easier…). It does not constitute investment advice and/or a recommendation…
Keep in mind that Mirae Asset Securities would more or less be doing sell side research (with all the usual conflicts of interest that can arise from doing that) and you probably will never or rarely see a sell recommendation from them - just like you almost never see a sell recommendation coming from Wall Street…
But their equity research comes with good stock financials and it’s in English (as again, many Korean stocks still do not have IR pages or financial reports in English) - meaning its a good starting point for anyone interested in investing directly in Korean stocks.
SK Hynix
SK Hynix (KRX: 000660) manufactures, distributes, and sells semiconductor products in Korea, China, rest of Asia, the United States, and Europe. The company offers DRAM, NAND storage products, SSD, MCP, and CMOS image sensors for server, networking, mobile, personal computer, consumer, and automotive applications.
Forward P/E: 20.66 / Forward Annual Dividend Yield: 0.90% (Yahoo! Finance)
Creative & Innovative System Corp
Creative & Innovative System Corp (KOSDAQ: 222080) manufactures and sells equipment for lithium-ion batteries powering IT instruments, EV lithium-ion batteries, fuel and solar cells, displays, etc. It offers electrode manufacturing equipment, such as coater, roll press, slitter, and tape laminators.
Trailing P/E: 104.39 (no forward P/E) / Forward Annual Dividend Yield: N/A (Yahoo! Finance)
DE&T Co Ltd
DE&T Co Ltd (KOSDAQ: 079810) concentrates on developing inspection equipments and solutions which are needed to manufacture FPD(Flat Panel Display) and semiconductor which are high-end industries. In addition to this, DE&T develops and provides back-end process equipments of FPD and Semiconductor, and PCB process equipments which is basis of IT industry. Furthermore, DE&T develops and produces automobile electronics in accordance with enhancement of automobile amenities.
Trailing P/E: 75.14 (no forward P/E) / Forward Annual Dividend Yield: N/A (Yahoo! Finance)
