September 11, 2019 Korea Morning Focus

No English report summaries this morning Major Indices Close Chg Chg (%) KOSPI 2,032.08 12.53 0.62 KOSPI 200 268.76 1.36 0.51 KOSDAQ 623.25 -2.52 -0.40

Turnover ('000 shares, Wbn) Volume Value KOSPI 496,303 4,459 KOSPI 200 64,705 2,904 KOSDAQ 818,353 3,762

Market Cap (Wbn) Value KOSPI 1,356,957 KOSDAQ 218,172

KOSPI Turnover (Wbn) Buy Sell Net Foreign 1,233 1,219 15 Institutional 1,139 968 171 Retail 2,054 2,246 -192

KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 372 394 -22 Institutional 129 207 -78 Retail 3,244 3,137 107

Program Buy / Sell (Wbn) Buy Sell Net KOSPI 1,053 1,049 4 KOSDAQ 329 360 -31

Advances & Declines Advances Declines Unchanged KOSPI 554 256 80 KOSDAQ 599 625 82

KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Electronics 47,000 100 430 KODEX KOSDAQ150 8,860 80 196 INVERSE KODEX Leverage 11,805 120 180 Sunny Electronics 3,985 0 177 Ilshin Stone 3,340 480 157

KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value KNN 1,530 215 154 Daea TI 6,140 1,060 145 DAEMO 9,240 1,620 124 Kukil Paper 5,450 -370 119 Puloon Technology 20,000 4,400 92 Note: As of September 10, 2019

This document is a summary of a report prepared by Mirae Asset Daewoo Co., Ltd. (“Mirae Asset Daewoo”) and published on our website. Please review the compliance notices contained in the original report. Information and opinions contained herein have been compiled in good faith from sources deemed to be reliable. However, the information has not been independently verified. Mirae Asset Daewoo makes no guarantee, representation or warranty, express or implied, as to the fairness, accuracy or completeness of the information and opinions contained in this document. Mirae Asset Daewoo accepts no responsibility or liability whatsoever for any loss arising from the use of this document or its contents or otherwise arising in connection therewith. Information and opinions contained herein are subject to change without notice. This document is for informational purposes only. It is not and should not be construed as an offer or solicitation of an offer to purchase or sell any securities or other financial instruments. This document may not be reproduced, further distributed or published in whole or in part for any purpose.

Mirae Asset Daewoo Research Key Universe Valuations September 11, 2019

※All data as of close September 09, 2019, unless otherwise noted.

19F Earnings growth Mkt Cap Price P/E (x) P/B (x) ROE (%) Ticker Company Div Yield OP EPS (Wbn) (W) (%) 19F 20F 19F 20F 19F 20F 19F 20F 19F 20F 005930 280,580 47,000 3.0 -53.4 23.9 -46.6 21.4 14.6 12.0 1.2 1.2 8.8 10.0 000660 SK Hynix 60,497 83,100 1.8 -85.3 102.4 -84.1 94.0 24.5 12.6 1.2 1.1 5.2 9.5 005380 Hyundai Motor 27,350 128,000 3.1 67.7 4.7 142.3 10.8 9.9 8.9 0.5 0.5 5.2 5.5 035420 NAVER 24,804 150,500 0.2 -23.3 105.7 -50.8 169.4 77.8 28.9 3.6 3.3 5.9 14.5 012330 23,731 249,000 1.6 10.3 7.8 25.4 8.8 10.2 9.4 0.7 0.7 7.4 7.4 051910 LG Chem 22,731 322,000 1.9 -33.1 66.6 -42.2 97.7 29.6 15.0 1.4 1.3 4.9 9.2 068270 Celltrion 21,175 165,000 - - - - 0.0 0.0 055550 Shinhan Financial Group 20,011 42,200 14.3 5.4 11.3 0.9 5.7 5.6 0.5 0.5 9.3 8.6 051900 LG H&H 19,788 1,267,000 0.9 12.8 9.7 16.5 10.7 24.9 22.5 5.4 4.6 20.3 19.1 005490 POSCO 19,399 222,500 4.5 -21.1 -1.8 55.3 -0.7 7.4 7.4 0.4 0.4 5.9 5.7 017670 SK Telecom 19,379 240,000 4.2 11.4 3.3 -58.6 71.4 15.0 8.7 0.8 0.7 5.7 9.3 105560 KB Financial Group 17,770 42,500 10.3 4.1 12.6 3.2 5.2 5.0 0.5 0.4 9.3 8.9 000270 Motors 17,512 43,200 1.9 20.5 19.7 54.5 16.7 9.8 8.4 0.6 0.6 6.3 7.0 028260 Samsung C&T 16,844 88,800 2.3 -16.8 41.4 -39.5 16.8 16.4 14.0 0.6 0.5 4.2 4.1 015760 KEPCO 16,210 25,250 - 305.3 - - - 26.4 0.2 0.2 - 0.9 006400 Samsung SDI 15,988 232,500 0.4 22.3 40.8 14.1 34.5 20.5 15.2 1.2 1.1 6.4 8.0 096770 SK Innovation 15,396 166,500 4.8 -29.7 10.7 -53.9 53.4 20.5 13.4 0.8 0.8 4.2 6.3 018260 Samsung SDS 15,243 197,000 1.3 13.6 15.8 13.2 15.8 21.4 18.5 2.3 2.1 11.3 12.0 034730 SK Holdings 14,354 204,000 2.5 3.5 23.6 -50.2 14.0 12.9 11.3 0.8 0.7 6.5 6.9 032830 Samsung Life 14,080 70,400 - - - - 0.0 0.0 033780 KT&G 14,004 102,000 4.1 12.8 5.6 17.5 5.1 13.2 12.6 1.6 1.5 12.7 12.6 003550 LG Corp. 12,459 72,200 3.2 17.2 15.4 5.5 15.6 6.5 5.6 0.6 0.6 10.5 11.1 036570 NCsoft 12,097 551,000 1.1 4.9 73.6 31.4 51.5 22.0 14.5 3.8 3.1 21.3 26.5 035720 11,355 135,500 0.1 184.9 132.6 205.6 127.5 72.3 31.8 2.1 2.0 3.0 6.5 000810 Samsung F&M 11,038 233,000 - - - - 0.0 0.0 010950 S-Oil 10,977 97,500 1.6 6.3 157.2 32.1 284.5 33.4 8.7 1.7 1.4 5.1 17.8 066570 LG Electronics 10,621 64,900 1.2 -11.8 30.9 -20.9 81.5 12.0 6.6 0.8 0.7 6.6 11.1 086790 10,508 35,000 11.5 6.2 9.6 8.5 4.3 3.9 0.4 0.3 9.0 8.9 009540 KSOE 8,493 120,000 - 215.7 - 27.2 208.1 163.6 0.7 0.7 0.3 0.4 011170 Lotte Chemical 8,363 244,000 4.3 -35.3 21.0 -39.4 30.8 8.7 6.7 0.6 0.6 7.3 9.0 010130 Korea Zinc 8,274 438,500 2.5 14.1 2.3 26.3 -2.0 12.4 12.7 1.2 1.1 10.2 9.3 251270 8,213 95,800 16.8 50.4 24.2 35.1 34.7 25.6 1.7 1.6 5.3 6.7 090430 AmorePacific 8,155 139,500 0.8 -15.7 30.9 -9.8 31.4 27.2 20.7 2.1 1.9 6.6 8.1 024110 7,474 13,000 6.0 3.0 3.9 2.0 4.7 4.6 0.4 0.4 8.5 8.1 009150 Samsung Electro-Mechanics 7,275 97,400 1.1 -39.9 36.8 -3.0 -7.6 11.9 12.8 1.3 1.2 12.4 10.3 030200 KT 7,115 27,250 4.0 9.5 1.0 18.2 5.3 8.7 8.3 0.5 0.5 6.0 6.0 091990 Celltrion Healthcare 6,527 45,350 - 214.5 745.0 180.7 67.5 24.1 3.6 3.2 5.7 14.8 018880 Hanon Systems 6,139 11,500 - - - - 0.0 0.0 032640 LG Uplus 5,894 13,500 4.8 -13.0 8.7 -18.0 12.3 14.9 13.3 0.8 0.8 5.7 6.2 086280 5,738 153,000 2.2 13.5 4.6 23.2 21.9 10.6 8.7 1.2 1.1 11.9 13.1 267250 5,594 343,500 5.4 78.7 2.1 154.0 4.5 8.2 7.8 0.6 0.6 8.6 8.5 Holdings 004020 5,184 38,850 1.9 6.1 22.5 53.1 31.9 8.5 6.4 0.3 0.3 3.5 4.3 010140 5,103 8,100 - - - - - 32.6 0.7 0.7 - 2.4 034220 LG Display 5,099 14,250 - - - - - 27.4 0.4 0.4 - 1.4 000720 Hyundai E&C 4,955 44,500 1.1 22.4 10.8 49.0 7.3 8.7 8.1 0.8 0.7 8.9 8.9 071050 Korea Investment Holdings 4,029 72,300 - - - - 0.0 0.0 029780 Samsung Card 3,974 34,300 -16.3 3.1 2.8 4.1 11.2 10.8 0.6 0.5 1.5 1.5 023530 Lotte Shopping 3,847 136,000 3.8 16.6 4.2 - 1.1 12.2 12.1 0.3 0.3 2.7 2.6 271560 Orion 3,752 94,900 0.6 1.3 8.9 36.8 11.4 19.6 17.6 2.3 2.1 12.7 12.5 012750 S1 3,716 97,800 2.8 4.9 7.3 52.9 8.6 23.6 21.7 2.5 2.4 12.1 12.4 Source: Mirae Asset Daewoo Research

Mirae Asset Daewoo Research Market Data September 11, 2019

※All data as of close September 10, 2019, unless otherwise noted.

Other Major Indices Economic Indicators Close Net Chg 1D (%) YTD (%) Close 1D ago 1M ago 1Y ago MSCI Korea* 414.87 4.69 1.14 -3.28 USD/KRW 1,192.40 1,196.90 1,211.30 1,123.10 KOSPI 2,032.08 12.53 0.62 1.10 JPY100/KRW 1,112.00 1,119.49 1,144.73 1,012.03 KOSDAQ 623.25 -2.52 -0.40 -6.89 EUR/KRW 1,317.54 1,319.46 1,355.08 1,297.85 Dow Jones* 26,835.51 38.05 0.14 15.04 3Y Treasury 1.24 1.24 1.19 1.92 S&P 500* 2,978.43 -0.28 -0.01 18.66 3Y Corporate 1.75 1.74 1.71 2.37 NASDAQ* 8,087.44 -15.63 -0.19 21.32 DDR4 8Gb* 3.30 3.31 3.58 7.39 Philadelphia Semicon* 1,576.39 8.05 0.51 35.28 NAND MLC 64G* 2.43 2.43 2.46 3.11 FTSE 100* 7,235.81 -46.53 -0.64 7.45 Oil (Dubai)* 60.12 59.23 56.83 74.73 Nikkei 225 21,392.10 73.68 0.35 9.36 Gold* 1,504.50 1,509.00 1,496.60 1,195.10 Hang Seng* 26,681.40 -9.36 -0.04 6.17 Customer deposits (Wbn)* 24,127 23,760 25,844 25,187 Taiwan (Weighted) 10,753.58 -47.56 -0.44 12.55 Equity type BC (Wbn)(Sep. 6) 79,006 78,941 77,901 81,788 Note: * as of September 09, 2019 Source: KSDA, FnGuide, DRAMeXchange, MSCI

KOSPI Top 10 Foreign Net Buy / Net Sell (Wbn) KOSPI Top 10 Institutional Net Buy / Net Sell (Wbn) Net Buy Net Sell Net Buy Net Sell Samsung Electronics 63.45 TIGER MSCI Korea TR 90.13 TIGER MSCI Korea TR 90.13 Samsung SDI 51.23 Kakao 11.24 Samsung SDI 19.74 KODEX Leverage 33.84 KODEX 200 Futures Inverse 2X 23.86 LG Innotek 6.77 Hynix 14.80 LG Electronics 20.53 13.03 Samsung C&T 6.62 Hyundai Motor 11.30 Samsung Electronics 20.31 LG Chem 10.81 TIGER200 6.28 SK Telecom 6.99 Hyundai Eng. & Cosnt. 13.67 KODEX Kosdaq150 Leverage 6.79 KB Financial Group 5.98 International 6.32 SK Telecom 11.90 TIGER200 5.45 Samsung Techwin 5.72 NAVER 5.64 POSCO 11.70 Woongjin Coway 4.94 KODEX Leverage 4.24 5.33 Hyundai Motor 11.69 KODEX Inverse 4.38 Mando 4.23 Celltrion 5.24 Honam Petrochemical 11.07 LG Innotek 3.25 Hyundai Eng. & Cosnt. 4.16 Shinhan Financial Group 5.23 Hana Financial Group 10.78 Samsung Techwin 2.98 Source: KSDA, FnGuide

KOSDAQ Top 10 Foreign Net Buy / Net Sell (Wbn) KOSDAQ Top 10 Institutional Net Buy / Net Sell (Wbn) Net Buy Net Sell Net Buy Net Sell KMW 14.62 ViroMed 11.40 JYP Entertainment 5.14 Nepes 17.60 RFHIC 6.23 Daea TI 4.68 1.24 LB Semicon 8.44 Soulbrain 2.49 JYP Entertainment 4.13 IDIS 1.12 RFHIC 4.74 PearlAbyss 2.35 Ahn Lab 3.24 Neo Pharm. 1.11 KMW 3.66 Paradise 1.88 Deutsch Motors 3.06 CJ ENM 1.04 Hana Must No.6 SPAC 3.27 SillaJen 1.65 Medy-tox 2.75 YG Entertainment 1.00 ViroMed 2.72 Duksan Neolux 1.40 Haatz 2.54 Dasan Networks 0.91 SK Materials 2.63 Power Logics 1.23 CJ ENM 2.48 Deutsch Motors 0.84 BH,LTD. 2.48 Partrion 1.18 ABL Bio 2.44 Ray 0.77 ECOPROBM 2.40 Dongjin Semichem 1.02 Studio Dragon 2.41 Tes 0.77 TESNA 2.18 Source: KSDA, FnGuide

KOSPI Top 10 by Market Cap (Wbn) KOSDAQ Top 10 by Market Cap (Wbn) Close (W) Chg (W) Mkt Cap Close (W) Chg (W) Mkt Cap Samsung Electronics 47,000 100 280,580 Celltrion Healthcare 45,350 -700 6,527 Hynix 83,100 -1,200 60,497 ViroMed 175,100 -5,400 3,733 Samsung Electronics (P) 39,150 50 32,216 CJ ENM 162,800 -2,300 3,570 Hyundai Motor 128,000 1,000 27,350 KMW 68,400 -1,400 2,719 NAVER 150,500 -2,500 24,804 PearlAbyss 196,600 -3,800 2,560 Hyundai Mobis 249,000 -2,000 23,731 Medy-tox 349,900 -6,700 2,035 LG Chem 322,000 -3,000 22,731 Studio Dragon 68,700 -400 1,929 Celltrion 165,000 -1,000 21,175 Hugel 367,500 -3,500 1,918 Shinhan Financial Group 42,200 700 20,011 SK Materials 173,100 -4,400 1,826 LG Household & Health Care 1,267,000 25,000 19,788 HLB 44,750 -2,800 1,756 Source: