January 9, 2015

KOREA

Company News & Analysis Major Indices Close Chg Chg (%) Modetour Network (080160/Buy/TP: W33,000) Upgrade rating & present TP KOSPI 1,924.70 20.05 1.05 Earnings momentum resumes after two-year slump KOSPI 200 246.05 2.11 0.86 KOSDAQ 572.99 6.56 1.16 (000100/Buy/TP: W232,000) Exports of hepatitis C treatment APIs poised for strong growth in 2015 Turnover ('000 shares, Wbn) Volume Value KOSPI 305,074 4,246 Sector News & Analysis KOSPI 200 63,848 2,812 Airlines (Overweight) KOSDAQ 433,501 2,814 Still more room to run Market Cap (Wbn) Value KOSPI 1,197,322 KOSDAQ 151,205

KOSPI Turnover (Wbn) Buy Sell Net Foreign 1,181 1,049 132 Institutional 846 741 105 Retail 2,153 2,435 -282

KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 154 133 22 Institutional 163 121 43 Retail 2,496 2,548 -52

Program Buy / Sell (Wbn) Buy Sell Net KOSPI 824 760 64 KOSDAQ 26 22 4

Advances & Declines Advances Declines Unchanged KOSPI 530 283 58 KOSDAQ 647 334 69

KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value CHEIL INDUSTRIES 150,000 15,000 423 KODEX LEVERAGE 10,495 230 394 Electronics 1,314,000 0 219 KODEX 200 24,875 275 203 Hynix 49,700 -250 161

KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Webzen 36,800 950 98 Daum Communications 149,500 2,200 97 INICIS 20,350 150 86 Com2us 164,000 5,000 82 Danal 10,150 -50 69 Note: As of January 9, 2015

This document is a summary of a report prepared by Daewoo Securities Co., Ltd. (“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. 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. 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.

Modetour Network (080160 KQ) Earnings momentum resumes after two- year slump

Hotel/Leisure Back on track Modetour Network’s outbound travelers jumped 20.5% YoY in 4Q14, meaningfully Earnings Preview recovering from a two-year slump. Outbound travelers for package tours re turned to January 9, 2015 double-digit growth (+15.7% YoY) for the first time in seven quarters, while the number of airline tickets sold expanded 41.4% YoY, underscoring the independent traveler-

driven growth in tourism demand. We believe another contributor to the robust ticket (Upgrade) Buy sales was the company’s introduction of a global distribution system, which offers more convenience and a much larger ticket inventory (almost tenfold). Target Price (12M, W) 33,000 But the biggest factor behind the overall outbound traffic recover y was likely the low base of comparison in 4Q13, when demand was dealt a huge blow due to natural Share Price (01/08/15, W) 25,900 disasters and political turmoil in the Philippines and Thailand (which together account for almost half of travel demand to Southeast Asia). Expected Return 27% For 4Q14, we project Modetour Network to post non-consolidated revenue of W41.8bn

(+23.5% YoY) and operating profit of W4.4bn (+30% YoY; OP margin of 10.6%). This OP (14F, Wbn) 21 would be the first time the company beat the consensus in two years, driven by the Consensus OP (14F, Wbn) 21 combination of a low base of comparison and the surge in airline ticket sales. EPS Growth (14F, %) 3.1 Resumed growth of LCCs in 2015 points to upside potential Market EPS Growth (14F, %) - P/E (14F, x) 16.6 Travel agencies’ earnings weakness since 2013 has generally coincided with low-cost Market P/E (14F, x) 12.7 carriers’ (LCCs) slowing capacity growth. This is because LCCs’ capacity expansions are KOSDAQ 566.43 directly tied to the ticket supplies offered by travel agencies.

Market Cap (Wbn) 326 In 2015, we believe aircraft capacity could resume growth, led by LCCs. In June 2014, Shares Outstanding (mn) 13 the government unveiled a number of measures to boost the competitiveness of Free Float (%) 76.4 domestic LCCs, including allowing collective fuel purchases (for cost savings) an d Foreign Ownership (%) 22.0 providing aircraft maintenance infrastructure. Such policy support should help to Beta (12M) 0.63 considerably ease the cost burden of new fleet purchases. 52-Week Low 19,050 52-Week High 26,900 Upgrade to Buy and Present TP of W33,000

(%)(%)(%) 1M1M1M 6M6M6M 12M12M12M We upgrade our rating on Modetour Network from Hold to Buy, and present a target Absolute 6.4 3.8 2.6 price of W33,000. Many of the key reasons behind our previous, bearish call on the Relative 3.5 1.7 -7.7 company—stagnant LCC capacity, geopolitical risks, and weak outbound traveler growth—appear to have either dissipated or been discounted. We based our target

120 Modetour Network KOSDAQ price on a 2015F P/E of 18.9x, a 10% discount to our Hana Tour target multiple (21x), in 110 order to account for the differences in market position and leadership. 100

90

80 70 1.14 5.14 9.14 1.15

Daewoo Securities CCo.,o., Ltd. FY (Dec.) 12/11 12/12 12/13 12/14F 12/15F 12/16F Revenue (Wbn) 121 133 143 160 202 212 [Cosmetics, Hotel/Leisure, Fashion] OP (Wbn) 17 21 20 21 27 28

Regina Hahm OP margin (%) 14.0 15.8 14.0 13.1 13.4 13.2 +822-768-4172 NP (Wbn) 13 17 18 18 22 23 [email protected] EPS (W) 1,052 1,370 1,414 1,458 1,722 1,842 ROE (%) 19.4 22.6 20.7 19.1 19.7 18.3

P/E (x) 15.3 22.0 16.2 16.6 15.0 14.1 P/B (x) 2.6 4.1 2.8 2.6 2.5 2.2 Notes: All figures are based on non-consolidated K-IFRS Source: Company data, KDB Daewoo Securities Research estimates

Analysts who prepared this report are registered as research analysts in Korea but not in any other jurisdiction, including t he U.S. PLEASE SEE ANALYST CERTIFICATIONS AND IMPORTANT DISCLOSURES & DISCLAIMERS IN APPENDIX 1 AT THE END OF REPORT.

Yuhan (000100 KS) Exports of hepatitis C treatment APIs poised for strong growth in 2015

Healthcare 4Q14 to mark strongest quarter of 2014 We forecast Yuhan’s 4Q14 revenue and operating profit to come in at W274.7bn Earnings Preview (+6.4% YoY) and W21.1bn (+5.8% YoY), respectively. We believe overall top-line growth January 9, 2015 was driven by ethical (ETC) drug sales, which likely climbed 11.4% YoY. Despite a bonus payout, operating profit likely improved thanks to cost-control efforts and reduced

marketing spending. We believe overall earnings performance was solid cons idering the (Maintain) Buy high base in 4Q13 (which was the firm’s best performing quarter of 2013). At subsidiary Yuhan-Kimberly, we estimate 2014 revenue and net profit were W1.38tr Target Price (12M, W) 232,000 (+1% YoY) and W149.3bn (+10.1% YoY), respectively. We believe Yuhan-Kimberly paid an interim dividend of W12.5bn (+4.1% YoY) to Yuhan in 4Q14. Share Price (01/08/15, W) 164,000 2015F OP to climb 20% YoY Expected Return 41% For 2015, we see Yuhan’s revenue growing 9.6% YoY to W1.11tr and operating pr ofit increasing 20% YoY to W77.6bn. ETC drug sales and active pharmaceutical ingredient OP (14F, Wbn) 65 (API) exports should expand 11.3% and 12.2 % YoY, respectively, driving overall revenue Consensus OP (14F, Wbn) 65 growth. Margins should also improve on 1) a more favorable product mix following the expected launches of Duowell (an in-house developed, incrementally modified drug for EPS Growth (14F, %) 23.7 hypertension and hyperlipidemia) and an Albis generic (gastric ulcer treatment), and 2) Market EPS Growth (14F, %) - increasing revenue from APIs, which are more profitable. P/E (14F, x) 21.7 Market P/E (14F, x) 12.7 Two new hepatitis C treatments for which Yuhan is believed to supply APIs—Gilead’s KOSPI 1,904.65 Harvoni and AbbVie’s Viekira Pak—received US FDA approval in 2014. A s such, we expect Yuhan’s exports of hepatitis C treatment APIs to markedly grow in 2015. Market Cap (Wbn) 1,829 Shares Outstanding (mn) 11 For 2015, we forecast Yuhan-Kimberly’s revenue to inch up 3% YoY to W1.42tr and net Free Float (%) 75.1 profit to climb 10.6% YoY to W165.1bn. Tissue exports should begin in 1Q15, Foreign Ownership (%) 25.4 supporting revenue growth, while profit margins should rise on better cost efficiency. Beta (12M) 0.21 Backed by increased profits at Yuhan-Kimberly, we project Yuhan’s 2015 equity-method 52-Week Low 164,000 gains to expand 13.8% YoY to W62.4bn. 52-Week High 203,000 Our second-favorite pharmaceutical pick (%)(%)(%) 1M1M1M 6M6M6M 12M12M12M Absolute -4.7 -7.3 -18.0 We reiterate Buy on Yuhan with a target price of W232,000 and maintain the stock as Relative -0.9 -2.4 -15.7 our second-favorite pick in pharmaceuticals. We expect profits to improve, helped by 1) lower marketing spend, 2) increasing API exports, and 3) improved margins at Yuhan-

120 Yuhan KOSPI Kimberly. 110

100

90

80 1.14 5.14 9.14 1.15

Daewoo Securities CCo.,o., Ltd. FY (Dec.) 12/11 12/12 12/13 12/14F 12/15F 12/16F Revenue (Wbn) 668 763 932 1,014 1,111 1,202 [Healthcare] OP (Wbn) 53 30 56 65 78 88

Hyun-tae Kim OP margin (%) 7.9 3.9 6.0 6.4 7.0 7.3 +822-768-3251 NP (Wbn) 83 70 72 89 102 113 [email protected] EPS (W) 7,297 6,109 6,312 7,805 8,965 9,959

ROE (%) 7.7 6.2 6.2 7.3 7.9 8.2 P/E (x) 17.5 28.3 29.6 21.7 18.3 16.5 P/B (x) 1.2 1.6 1.6 1.4 1.3 1.2 Notes: All figures are based on non-consolidated K-IFRS Source: Company data, KDB Daewoo Securities Research estimates

Analysts who prepared this report are registered as research analysts in Korea but not in any other jurisdiction, including t he U.S. PLEASE SEE ANALYST CERTIFICATIONS AND IMPORTANT DISCLOSURESDISCLOSURES & DISCLAIMERS IN APPENDIX 1 AATT THE END OF REPORT.

Airlines Still more room to run

December IIA data point to rise in load factor Overweight (Maintain) Passenger demand growth continues : According to Incheon International Airport (IIA) data, international passenger traffic increased 13.7% YoY in December (vs. +12.6% YoY Sector Update in November), while the number of passenger flights increased 10.5% YoY (vs. +11.1% January 9, 2015 YoY in November). As such, the passenger load factor indicator rose to a six-month high of 3.5%p. The improvement in load factor appears broad-based. Traffic on China, Germany, and US routes drove overall growth, showing respective increases of 27.2%, Daewoo Securities CCCo.,Co., Ltd. 14%, and 9.4% YoY (vs. +28.6%, +18.8%, and +5.5% YoY in November). Traffic on Japan routes picked up visibly, rising 10% YoY (vs. +8.7% in November), and traffic on Thailand [Transportation/Energy] routes inched up 0.8% YoY (vs. -10.7% YoY in November), the first positive growth in 17

Jay JH Ryu months. +822-768-4175 Cargo demand up 2.7% YoY (vs. +4.3% YoY in November): I nternational cargo traffic [email protected] growth was driven by US and Germany routes, which saw respective increases of 14%

Choong-hyun Kim and 2% YoY in December (vs. +17.2% and +1.7% YoY in November). Meanwhile, traffic +822-768-4126 on Japan routes fell 1.8% YoY, marking a slowdown in the pace of decline (vs. -5.2% YoY [email protected] in November). We believe the deceleration in overall growth was primarily d ue to capacity cuts. The number of cargo flights fell 1.6% YoY in December (vs. +2.1% YoY in November), pushing the cargo load factor indicator up to 4.2%p, the highest level in three years.

LCC market share expands further In December, low-cost carriers (LCC) continued to expand their market share, with traffic jumping 24.8% YoY. For short-haul international routes, LCCs accounted for 20.5% of overall traffic. In particular, the share of domestic LCCs neared the historic high, climbing to 15%. Meanwhile, foreign LCCs made slight gains, with market share reaching 5.4%. For domestic routes, LCCs represented a record-high 54.1% of overall traffic. In the short-haul international segment, Jeju Air held the largest share among LCCs at 4.7% (+18.2% YoY in traffic), followed by Jin Air, which took the second spot at 3.6% (+43% YoY in traffic). T’way Air’s share remained at 1.6% (+49.8% YoY in traffic).

Maintain Overweight; Still more room to run We maintain our Overweight call on the airline sector. 1) With load factor showing signs of improvement, we do not yet believe the current cycle has run its course. Yields should continue to see upside momentum, as supply lags behind demand. 2) While a sharp reversal in the slide in oil prices would be negative, we expect any such rebound to only be gradual. If jet fuel prices hold at the current level, Korean Air and Asiana Airlines could theoretically see 50% upside to our 2015 operating profit forecasts.

International cargo L/F indicator: Korean Air vs. Asiana Airlines (%p) 35 Korean Air Asiana Airlines

25

15

5

-5

-15

-25 10 11 12 13 14

Source: IIA, KDB Daewoo Securities Research

Analysts who prepared this report are registered as research analysts in Korea but not in any other jurisdiction, including t he U.S. PLEASE SEE ANALYST CERTIFICATIONS AND IMPORTANT DISCLOSURES & DISCLAIMERS IN APPENDIX 1 AT THE END OF REPORT.

Key Universe Valuations January 9, 2015

※All data as of close January 8, 2015, unless otherwise noted.

15F Earnings growth Mkt Cap Price P/E (x) P/B (x) ROE (%) Ticker Company Div Yield OP EPS (Wbn) (W) (%) 15F 16F 15F 16F 15F 16F 15F 16F 15F 16F 005380 Hyundai Motor 39,650 180,000 1.3 1.9 6.2 3.7 7.1 6.3 5.9 0.8 0.7 13.0 12.4 015760 KEPCO 26,802 41,750 2.2 5.9 10.2 215.0 -57.9 3.3 7.9 0.4 0.4 14.2 5.5 005490 POSCO 25,328 290,500 2.8 26.2 14.5 98.6 20.4 10.2 8.5 0.6 0.5 5.7 6.6 035420 NAVER 24,788 752,000 0.1 38.9 30.3 61.7 34.6 32.4 24.1 7.5 5.7 33.3 32.5 032830 Samsung Life 24,100 120,500 - - - - 0.0 0.0 018260 Samsung SDS 23,252 300,500 0.1 39.5 8.9 29.9 10.0 42.6 38.7 5.0 4.5 11.7 11.5 012330 23,168 238,000 0.9 11.4 8.8 11.8 6.6 5.8 5.5 0.9 0.7 15.8 14.6 000270 Motors 21,646 53,400 1.7 19.5 10.2 12.9 7.7 5.5 5.1 0.8 0.7 15.9 14.8 017670 SK Telecom 21,478 266,000 3.8 15.8 7.5 13.9 8.0 10.2 9.5 1.2 1.1 13.8 13.6 055550 21,363 45,050 - - - - 0.0 0.0 105560 KB Financial Group 14,237 36,850 - - - - 0.0 0.0 000810 Samsung F&M 14,070 297,000 - - - - 0.0 0.0 090430 Amorepacific 12,662 2,166,000 0.3 16.0 22.1 16.7 23.0 31.0 25.2 4.5 3.9 15.5 16.4 034220 LG Display 12,577 35,150 -7.6 23.2 -17.5 32.3 14.6 11.0 1.0 0.9 7.2 8.8 051910 LG Chem 11,829 178,500 2.2 19.7 35.2 29.2 36.2 10.3 7.6 1.0 0.9 10.1 12.5 086280 11,456 305,500 0.5 12.2 12.2 1.7 10.3 19.1 17.3 3.4 2.9 19.3 17.9 034730 SK C&C 11,450 229,000 0.5 9.9 19.7 15.8 -56.6 21.6 49.8 3.1 3.0 17.6 6.9 033780 KT&G 11,354 82,700 3.6 -28.8 10.7 -28.1 8.7 18.6 17.1 1.8 1.7 10.5 11.0 003550 LG Corp. 10,733 62,200 1.6 18.0 4.2 18.5 5.9 8.7 8.2 0.8 0.7 9.4 9.2 066570 LG Electronics 10,097 61,700 0.6 23.2 26.0 85.8 27.0 9.2 7.2 0.8 0.8 9.6 11.1 051900 LG Household & Health Care 9,480 607,000 0.7 18.8 12.2 20.0 14.6 25.9 22.6 5.1 4.3 22.3 21.2 000830 Samsung C&T 9,436 60,400 1.0 26.7 6.4 41.7 6.8 15.0 14.1 0.8 0.8 5.7 5.8 086790 9,364 32,300 - - - - 0.0 0.0 035720 Daum Communications 8,692 149,500 0.8 226.9 35.3 144.0 39.4 34.6 24.8 10.9 8.0 37.2 38.4 023530 Lotte Shopping 8,109 257,500 0.6 8.3 6.0 15.3 7.3 9.0 8.4 0.5 0.4 5.2 5.3 006400 Samsung SDI 7,942 115,500 1.3 - 71.5 143.2 52.1 29.4 19.3 1.0 1.0 3.5 5.1 010130 Korea Zinc 7,925 420,000 1.2 15.6 5.5 21.5 6.2 13.1 12.4 1.5 1.4 12.5 11.9 004020 7,890 67,700 0.7 -0.5 8.0 1.0 17.7 10.0 8.5 0.5 0.5 5.6 6.2 096770 SK Innovation 7,850 84,900 3.8 198.4 35.4 - 35.5 10.6 7.8 0.5 0.5 4.8 6.2 030200 KT 7,807 29,900 3.3 - 7.2 - 33.0 14.4 10.8 0.6 0.6 4.9 6.3 024110 7,717 13,950 - - - - 0.0 0.0 003600 SK Holdings 7,655 163,000 1.5 29.8 6.2 34.0 -3.9 5.4 5.6 0.5 0.5 10.9 9.5 009540 7,638 100,500 2.0 - 103.3 - 118.1 18.3 8.4 0.4 0.4 2.7 5.6 088350 Hanwha Life 6,948 8,000 - - - - 0.0 0.0 035250 6,750 31,550 3.5 7.2 5.3 12.1 7.1 15.3 14.3 2.1 2.0 15.3 15.1 021240 Coway 6,201 80,400 2.5 14.4 13.6 14.3 17.3 21.0 17.9 4.6 4.0 26.0 26.3 161390 6,181 49,900 1.0 7.0 9.0 13.2 10.1 7.4 6.8 1.2 1.0 17.1 16.1 001800 Orion 5,826 975,000 0.3 3.6 17.5 12.4 18.5 32.8 27.7 4.2 3.7 13.6 14.2 139480 Emart 5,742 206,000 0.7 12.4 9.7 18.1 13.8 11.1 9.7 0.7 0.7 7.0 7.3 010950 S-Oil 5,472 48,600 2.8 - 62.4 - 62.4 16.2 9.9 1.0 1.0 6.6 10.0 002380 KCC 5,249 499,000 1.6 15.4 2.8 12.3 4.3 21.4 20.5 1.0 1.0 4.8 4.8 011210 Hyundai Wia 5,235 192,500 0.3 20.6 10.4 11.8 10.5 9.7 8.8 1.6 1.4 18.3 17.0 032640 LG Uplus 5,196 11,900 1.9 16.6 3.6 35.9 9.5 16.0 14.6 1.2 1.1 7.5 7.8 011170 Lotte Chemical 5,090 148,500 0.7 107.6 40.6 136.5 44.4 10.4 7.2 0.7 0.7 7.4 9.8 009150 Samsung Electro-Mechanics 4,624 61,900 0.7 2550.4 56.7 -63.4 50.7 25.3 16.8 1.0 1.0 4.1 6.0 000720 Hyundai E&C 4,421 39,700 1.5 19.8 5.1 38.8 9.6 6.7 6.1 0.7 0.7 11.6 11.4 010140 4,398 19,050 2.6 152.4 4.2 128.4 6.0 7.4 7.0 0.6 0.6 9.5 9.3 036460 Korea Gas 4,394 47,600 2.1 19.1 8.4 0.1 21.8 8.9 7.3 0.4 0.4 5.0 5.8 097950 CJ CheilJedang 4,355 331,500 0.6 1.4 12.1 31.3 53.1 38.1 24.9 1.5 1.4 4.2 6.2 000120 CJ Korea Express 4,289 188,000 51.5 14.5 157.1 9.7 27.2 24.8 1.5 1.4 6.7 6.9 Source: KDB Daewoo Securities Research

Market Data January 9, 2015

※All data as of close January 9, 2015, unless otherwise noted.

Other Major Indices Economic Indicators Close Net Chg 1D (%) YTD (%) Close 1D ago 1M ago 1Y ago MSCI Korea* 387.79 7.38 1.94 0.28 USD/KRW 1,098.50 1,099.70 1,118.30 1,066.00 KOSPI 1,924.70 20.05 1.05 -0.09 JPY100/KRW 917.10 921.83 927.66 1,016.69 KOSDAQ 572.99 6.56 1.16 3.48 EUR/KRW 1,294.91 1,301.28 1,377.41 1,447.41 Dow Jones* 17,907.87 323.35 1.84 0.42 3Y Treasury 2.06 2.07 2.18 2.90 S&P 500* 2,062.14 36.24 1.79 0.19 3Y Corporate 2.39 2.40 2.48 3.32 NASDAQ* 4,736.19 85.72 1.84 0.20 DDR2 1Gb* 1.33 1.34 1.37 1.70 Philadelphia Semicon* 684.65 19.38 2.91 -0.30 NAND 16Gb* 2.17 2.17 2.27 3.42 FTSE 100* 6,569.96 150.13 2.34 0.34 Oil (Dubai)* 47.56 47.23 64.62 104.04 Nikkei 225 17,197.73 30.63 0.18 -1.21 Gold* 1,208.50 1,210.70 1,194.70 1,225.50 Hang Seng* 23,835.53 154.27 0.65 -0.09 Customer deposits (Wbn)* 16,336 16,128 16,102 13,722 Taiwan (Weighted) 9,215.58 -22.45 -0.24 -0.63 Equity type BC (Wbn)(Jan. 7) 79,224 79,124 78,675 85,220 Note: * as of January 8, 2015 Source: KSDA, Wisefn, 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 Hynix 39.97 18.46 KODEX LEVERAGE 168.81 KT 22.16 Hyundai Motor 30.82 DSME 10.30 CHEIL INDUSTRIES 26.11 SK Telecom 11.36 LG Display 22.41 HANKOOK TIRE 7.34 SEMCO 20.27 KCC 9.41 NHN 21.51 KT&G 6.94 GKL 14.40 Kolong Industries 8.30 NHN Entertainment 9.26 GKL 5.79 CJ Cheiljedang 13.45 KODEX INVERSE 7.72 POSCO 9.03 Hyundai Mobis 5.40 Samsung Electronics 12.80 SK Chemical 7.34 SK Telecom 8.39 SK C&C 4.94 DSME 12.56 KEPCO 6.87 Hyundai Steel 8.18 CJ Cheiljedang 4.61 Hyundai Mobis 11.37 Hynix 6.74 Glovis 6.23 Hyundai Heavy Industries 4.56 LG Chem 10.81 KIWOOM 6.48 Korea Plant Service & Hanssem 5.84 4.20 NCsoft 10.69 Glovis 6.45 Engineering Source: KSDA, Wisefn

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 Daum Communications 8.85 Paradise 7.10 Daum Communications 12.31 INICIS 3.65 INICIS 3.11 Partrion 3.05 YG Entertainment 6.61 Romanson 2.00 NaturalendoTech 2.88 Com2us 2.30 CJ E&M 6.61 EO Technics 1.91 OCI Materials 2.10 Interflex 1.96 NEW 6.44 Seoul Semiconductor 1.69 Medy-tox 1.87 Bio Space 1.31 KCP 4.48 SBS Contents Hub 1.53 Techno Semichem 1.64 Wemade 1.21 Gamevil 2.99 Nowcom 1.48 Media Flex 1.26 NEOWIZ Games 1.21 Media Flex 2.81 PATI Games 1.31 SEEGENE 1.22 Interpark INT 1.08 Huons 2.60 OCI Materials 1.25 Winix 1.01 HANA Micron 1.02 SM 2.05 Danal 1.24 Yoo Won Com-tech 0.96 ViroMed 0.95 Amotech 1.67 CJ O Shopping 1.05 Source: KSDA, Wisefn

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 1,314,000 0 193,551 Daum Communications 149,500 2,200 8,692 Hyundai Motor 180,000 2,000 39,650 Celltrion 38,400 300 3,977 Hynix 49,700 -250 36,182 Dongsuh 21,350 -350 2,129 KEPCO 41,750 -50 26,802 Paradise 23,200 450 2,110 POSCO 290,500 4,500 25,328 Medy-tox 331,800 4,800 1,877 NHN 752,000 8,000 24,788 EO Technics 136,500 -300 1,675 120,500 500 24,100 Com2us 164,000 5,000 1,654 Samsung Electronics (P) 1,023,000 1,000 23,359 CJ E&M 41,800 150 1,619 SAMSUNG SDS 300,500 6,500 23,252 CJ O Shopping 236,300 -1,600 1,467 Hyundai Mobis 238,000 7,500 23,168 GS Home Shopping 208,600 -1,900 1,369 Source: