039490 KR · Kiwoom SecuritiesMW GOBLIN RESEARCH
Kiwoom Securities: A Tug of War Between the Discount to Book Value and Earnings Sustainability
Analysis date
Published
KRW 216,000 offers an attractive discount to net assets at the end of the first half. However, rather than simply annualizing the strong first-half results, investors need to assess whether profitability can be sustained while defending domestic equity market share and absorbing higher investment and funding costs.
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Read the full reportWhat this report covers
- Trading growth offsets the decline in market share
- Payment obligations remain despite the capital increase
- Assess large PRS investments on net returns