January 6, 2020 Korea Morning Focus

No English report summaries this morning.

Major Indices Close Chg Chg (%) KOSPI 2,176.46 1.29 0.06 KOSPI 200 290.74 0.39 0.13 KOSDAQ 669.93 -4.09 -0.61

Turnover ('000 shares, Wbn) Volume Value KOSPI 622,527 5,764 KOSPI 200 78,457 3,719 KOSDAQ 893,874 5,540

Market Cap (Wbn) Value KOSPI 1,462,299 KOSDAQ 241,358

KOSPI Turnover (Wbn) Buy Sell Net Foreign 1,428 1,166 262 Institutional 1,403 1,927 -524 Retail 2,891 2,617 274

KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 540 672 -132 Institutional 232 379 -146 Retail 4,731 4,451 280

Program Buy / Sell (Wbn) Buy Sell Net KOSPI 1,366 1,145 222 KOSDAQ 507 648 -141

Advances & Declines Advances Declines Unchanged KOSPI 390 421 98 KOSDAQ 541 707 101

KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Electronics 55,500 300 854 Sunny Electronics 5,660 660 393 KODEX Leverage 14,070 10 314 Hynix 94,500 -200 289 KODEX Kosdaq150 8,605 -255 275 Leverage

KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value HLB 108,500 -5,800 191 Ahn Lab 76,000 -5,000 178 Heungu 7,250 1,670 155 Soulbrain 84,800 600 116 KMW 56,400 -900 105 Note: As of January 03, 2020

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 January 6, 2020

※All data as of close January 02, 2020, 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 331,323 55,500 2.6 -53.2 41.0 -46.6 37.2 17.2 12.6 1.4 1.3 8.7 11.1 000660 SK Hynix 68,796 94,500 1.6 -85.8 150.5 -85.5 140.0 30.5 12.7 1.4 1.2 4.7 10.7 035420 NAVER 29,914 181,500 0.2 -17.8 77.0 -47.3 132.4 87.6 37.7 4.4 3.9 6.3 13.4 005380 Hyundai Motor 24,786 116,000 3.4 49.6 41.9 118.5 48.0 9.9 6.7 0.4 0.4 4.7 6.6 012330 Hyundai Mobis 23,827 250,000 2.0 17.9 16.4 24.3 17.1 10.4 8.8 0.7 0.7 7.3 7.9 068270 22,780 177,500 - - - - 0.0 0.0 051910 LG Chem 21,954 311,000 1.3 -55.7 70.9 -72.5 164.0 60.1 22.8 1.4 1.3 2.4 6.1 005490 POSCO 20,663 237,000 4.6 -23.9 -9.2 37.8 -0.3 8.9 8.9 0.4 0.4 5.3 5.1 028260 Samsung C&T 20,392 107,500 1.9 -27.7 39.8 -42.8 17.9 21.0 17.8 0.7 0.6 4.0 3.9 055550 20,272 42,750 12.3 3.9 10.0 -0.2 5.8 5.8 0.5 0.5 9.1 8.4 051900 LG H&H 19,726 1,263,000 0.9 12.8 9.7 16.5 10.7 24.8 22.4 5.4 4.6 20.3 19.1 105560 KB Financial Group 19,605 47,150 9.3 2.3 12.6 0.9 5.7 5.7 0.5 0.5 9.2 8.5 017670 SK Telecom 18,894 234,000 4.3 7.3 -3.5 -60.6 68.2 15.3 9.1 0.8 0.7 5.4 8.8 015760 KEPCO 18,135 28,250 - - - - - 147.9 0.3 0.3 - 0.2 034730 SK Holdings 18,047 256,500 1.9 -2.8 21.5 -36.6 11.0 12.7 11.5 0.9 0.9 8.2 8.3 000270 Motors 17,025 42,000 2.1 70.4 29.1 79.8 24.5 8.2 6.6 0.6 0.5 7.4 8.5 006400 Samsung SDI 15,747 229,000 0.4 -33.6 89.7 -37.7 75.8 36.9 21.0 1.2 1.2 3.6 5.9 018260 Samsung SDS 14,895 192,500 1.3 10.4 12.3 10.3 11.8 21.5 19.2 2.3 2.1 11.1 11.3 032830 Samsung Life 14,660 73,300 - - - - 0.0 0.0 096770 SK Innovation 13,824 149,500 4.3 -42.8 18.2 -68.7 92.4 27.1 14.1 0.7 0.7 2.8 5.4 035720 13,148 152,500 0.1 184.6 138.3 226.0 114.7 76.3 35.5 2.5 2.3 3.2 6.7 033780 KT&G 12,700 92,500 4.5 12.8 5.6 17.5 5.1 12.0 11.4 1.4 1.3 12.7 12.6 036570 NCsoft 12,404 565,000 1.1 6.0 76.9 33.5 52.9 22.2 14.5 3.8 3.1 21.6 27.0 003550 LG Corp. 12,355 71,600 3.5 -28.0 45.0 -18.4 16.8 8.3 7.1 0.6 0.6 8.1 8.9 090430 AmorePacific 12,072 206,500 0.5 -15.7 30.9 -9.8 31.4 40.3 30.6 3.1 2.9 6.6 8.1 066570 LG Electronics 11,635 71,100 1.1 -6.4 13.9 -42.2 106.7 17.9 8.7 0.8 0.8 4.9 9.4 000810 Samsung F&M 11,228 237,000 - - - - 0.0 0.0 086790 10,869 36,200 4.6 2.7 14.8 -6.2 4.2 4.5 0.4 0.3 9.2 8.1 010950 S-Oil 10,526 93,500 0.3 -13.3 197.8 -54.2 948.9 92.3 8.8 1.7 1.4 1.8 17.3 009150 Samsung Electro-Mechanics 9,523 127,500 0.9 -30.5 18.6 -39.3 60.9 24.8 15.4 1.7 1.5 7.6 10.7 009540 KSOE 9,165 129,500 - 88.1 - -39.1 37.3 61.3 0.8 0.8 2.1 1.3 010130 Korea Zinc 8,029 425,500 2.6 12.2 15.7 25.4 9.3 12.1 11.1 1.2 1.1 10.2 10.3 251270 7,768 90,600 1.8 57.7 14.5 36.9 35.5 26.0 1.6 1.5 4.9 6.3 011170 Lotte Chemical 7,403 216,000 4.9 -46.0 12.7 -54.7 32.3 10.3 7.8 0.6 0.5 5.5 6.9 091990 Celltrion Healthcare 7,398 51,400 - 144.5 435.7 165.0 120.7 45.5 4.1 3.9 3.7 9.3 030200 KT 6,946 26,600 4.1 -2.4 -1.1 -7.8 21.0 10.9 9.0 0.5 0.5 4.7 5.5 024110 6,695 11,600 0.6 -0.8 -1.0 -2.3 4.4 4.5 0.3 0.3 8.0 7.3 032640 LG Uplus 6,025 13,800 4.7 -11.8 10.9 -16.7 15.0 15.0 13.1 0.9 0.8 5.8 6.4 034220 LG Display 5,815 16,250 ------0.5 0.5 - - 018880 Hanon Systems 5,685 10,650 - - - - 0.0 0.0 267250 5,391 331,000 5.6 -1.6 92.1 74.3 199.2 11.5 3.8 0.6 0.6 6.0 16.5 Holdings 086280 5,175 138,000 2.4 22.7 2.0 3.3 34.0 11.5 8.5 1.1 1.0 10.1 12.2 000720 Hyundai E&C 4,566 41,000 1.2 12.4 10.9 42.6 -6.7 8.4 9.0 0.7 0.6 8.3 7.3 010140 4,561 7,240 - - - - - 46.2 0.7 0.7 - 1.7 029780 Samsung Card 4,356 37,600 11.7 -28.6 1.7 6.8 12.4 11.6 0.6 0.6 1.5 1.6 271560 Orion 4,112 104,000 0.6 14.2 7.7 56.5 9.1 18.8 17.2 2.5 2.2 14.4 13.7 004020 4,110 30,800 2.4 -45.2 39.1 -75.8 289.4 42.7 11.0 0.2 0.2 0.6 2.1 071050 Korea Investment Holdings 3,990 71,600 - - - - 0.0 0.0 004990 3,918 37,350 2.1 91.0 11.9 198.2 20.3 7.2 6.0 0.4 0.4 7.5 8.3 028050 3,773 19,250 102.6 8.0 373.7 -1.2 11.6 11.7 2.7 2.2 26.7 20.9 Source: Mirae Asset Daewoo Research

Mirae Asset Daewoo Research Market Data January 6, 2020

※All data as of close January 03, 2020, unless otherwise noted.

Other Major Indices Economic Indicators Close Net Chg 1D (%) YTD (%) Close 1D ago 1M ago 1Y ago MSCI Korea* 467.68 -5.82 -1.23 -1.23 USD/KRW 1,156.90 1,157.80 1,180.40 1,119.00 KOSPI 2,176.46 1.29 0.06 0.06 JPY100/KRW 1,065.53 1,065.67 1,082.69 1,044.87 KOSDAQ 669.93 -4.09 -0.61 -0.61 EUR/KRW 1,292.66 1,299.11 1,307.47 1,270.51 Dow Jones* 28,868.80 330.36 1.16 1.16 3Y Treasury 1.27 1.33 1.46 1.80 S&P 500* 3,257.85 27.07 0.84 0.00 3Y Corporate 1.86 1.91 1.99 2.27 NASDAQ* 9,092.19 119.59 1.33 0.00 DDR4 8Gb* 3.03 3.03 2.75 6.35 Philadelphia Semicon* 1,887.91 38.29 2.07 0.00 NAND MLC 64G* 2.40 2.40 2.35 2.70 FTSE 100* 7,604.30 61.86 0.82 0.00 Oil (Dubai)* 65.69 67.27 60.83 51.86 Nikkei 225 23,656.62 -181.10 -0.76 20.93 Gold* 1,528.10 1,523.10 1,462.30 1,284.10 Hang Seng* 28,543.52 353.77 1.25 0.00 Customer deposits (Wbn)* 29,860 27,338 26,278 26,356 Taiwan (Weighted) 12,110.43 9.95 0.08 0.08 Equity type BC (Wbn)(Dec. 31) 87,709 87,668 81,455 85,183 Note: * as of January 02, 2020 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 TIGER MSCI Korea TR 98.81 Hyundai Motor 27.79 16.74 Samsung Electronics 123.33 Samsung Electronics 61.98 Hynix 15.75 Amore Pacific 8.74 TIGER MSCI Korea TR 98.81 NC Soft 21.03 Samsung SDI 7.83 KODEX KOSDAQ150 INVERSE 7.88 NAVER 30.04 KB Financial Group 19.75 LG Display 6.86 LG Display 7.00 SK Telecom 27.33 18.16 KODEX Leverage 6.16 International 6.53 Hyundai Mobis 23.25 Hyundai Mobis 18.07 Amore Pacific 4.10 KODEX Leverage 6.42 Hyundai Motor 21.21 Shinhan Financial Group 16.31 KODEX Kosdaq150 Leverage 4.08 Hanwha Chemical 4.87 Shinhan Financial Group 20.58 SK Telecom 15.92 Kolmar Korea 3.87 Hyundai Heavy Industries 2.82 Kia Motors 19.16 SEMCO 15.41 Hyundai Steel 3.13 Jeju Air 2.56 Celltrion 17.23 KODEX 200 13.04 Ssang Yong Cement 2.80 S-Oil 2.50 KB Financial Group 15.07 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 CammSys 3.26 HLB 19.87 Nepes 7.24 RFHIC 25.92 LaonPeople 2.78 Soulbrain 14.75 Medy-tox 4.74 Soulbrain 18.22 CJ ENM 2.76 AfteecaTV 11.94 Semiconductor 4.48 HLB 17.48 Seegene 2.49 RFHIC 9.74 Paradise 3.57 Dongjin Semichem 6.55 New Power Plasma 2.13 KMW 9.09 PearlAbyss 3.27 LaonPeople 5.76 Duksan Neolux 1.96 Wonik IPS 5.63 Ahn Lab 2.01 SM 4.99 JYP Entertainment 1.77 SillaJen 5.31 YG Entertainment 1.79 KMW 4.62 Emerson Pacific 1.73 Dongjin Semichem 4.53 Bio Solution Co.,Ltd. 1.65 CJ ENM 4.55 TESNA 1.67 Celltrion Healthcare 4.15 Ace Technology 1.64 Celltrion Healthcare 4.52 Systems Technology 1.66 Kukil Paper 4.09 SKC Kolon PI 1.23 SK Materials 3.79 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 55,500 300 331,323 Celltrion Healthcare 51,400 -1,200 7,398 Hynix 94,500 -200 68,796 HLB 108,500 -5,800 4,637 Samsung Electronics (P) 45,650 50 37,565 CJ ENM 154,700 -900 3,392 NAVER 181,500 -1,000 29,914 PearlAbyss 185,700 3,300 2,418 422,000 -6,500 27,922 80,000 -1,100 2,248 Hyundai Motor 116,000 -2,000 24,786 KMW 56,400 -900 2,245 Hyundai Mobis 250,000 2,500 23,827 ViroMed 91,000 -3,100 1,949 Celltrion 177,500 -2,500 22,780 SK Materials 181,000 0 1,909 LG Chem 311,000 -3,000 21,954 Medy-tox 311,400 10,800 1,811 POSCO 237,000 1,000 20,663 Paradise 19,900 -250 1,810 Source: