March 3, 2017

KOREA Daily Focus

Sector News & Analysis Major Indices Close Chg Chg (%) (Overweight) KOSPI 2,078.75 -23.90 -1.14 Buyer’s market KOSPI 200 269.77 -2.88 -1.06 KOSDAQ 600.73 -8.20 -1.35 Auto (Neutral) February shipments: Weal seasonality and sluggishness continu Turnover ('000 shares, Wbn) Volume Value KOSPI 407,598 4,968 Economy & Strategy Update KOSPI 200 76,412 3,931 KOSDAQ 875,891 2,705 Macro Trend Steep export growth eases strong won impact Market Cap (Wbn) Value KOSPI 1,344,319 KOSDAQ 194,059

KOSPI Turnover (Wbn) Buy Sell Net Foreign 1,704 1,736 -32 Institutional 1,036 1,161 -125 Retail 2,157 2,050 107

KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 186 176 9 Institutional 96 117 -21 Retail 2,420 2,410 9

Program Buy / Sell (Wbn) Buy Sell Net KOSPI 1,110 1,089 21 KOSDAQ 79 67 12

Advances & Declines Advances Declines Unchanged KOSPI 184 633 59 KOSDAQ 223 908 71

KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Electronics 1,981,000 -5,000 500 Amore Pacific 251,500 -36,500 269 KODEX LEVERAGE 12,235 -240 221 Hynix 47,100 -600 186 KODEX 200 27,355 -265 170

KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value KNN 1,400 165 123 HENG SHENG GROUP 3,390 780 116 Interm 5,440 90 73 SillaJen 11,350 700 65 Golden Century 5,240 615 62 Note: As of March 3, 2017

Mirae Asset Daewoo Research

Shipbuilding Buyer ’s market

Too early to expect market recovery The shipbuilding industry is headed for a prolonged slump. Despite improving market conditions (e.g., rebounds in oil prices, heavy plate prices, and the Overweight (Maintain) shipbuilding index), newbuilding orders remain lackluster. We believe that prices and orders are unlikely to recover in the near term: given: 1) high uncertainties over Industry Report the global economic recovery; 2) shipowners’ efforts to secure bargain-basement prices from order-hungry shipbuilders; and 3) a lack of speculative demand, due to March 3, 2017 delays to the announcement of government-led restructuring plans. All in all, visibility on the recovery of the newbuilding market is low in the short term.

Mirae Asset Daewoo Co., Ltd. Near-term recovery unlikely: Shipowners remain on sidelines

[Shipbuilding/Machinery ] Following the OPEC output cut agreement, o il prices surged to US$55/bbl and

Ki -jong Sung stabilized thereafter, which should be positive for the merchant vessel and offshore +822 -3774 -1733 platform markets. However, as global economic uncertainties continue to prevent [email protected] shipowners from placing new orders, shipbuilders faced with thinning order books are forced to accept low-margin orders amid a lack of negotiating power. Against this backdrop, a recovery in order volume is unlikely to lead to a rebound in prices.

Highly concentrated order placements amid market slump

We expect the prolonged slump to prompt a broader restructuring of the shipbuilding industry. Seeking extremely favorable prices and terms, shipowners have been selective in their order placements. Over the past year, orders have become increasingly concentrated among a handful of shipbuilders with relatively sound financials and s trong competitiveness. Should the shipbuilding industry undergo further restructuring, we expect to see a rise in speculative orders in 2H17.

Overweight: Slump presents opportunities We maintain our Overweight rating on the shipbuilding sector. Over t he past two months, shipbuilding shares have responded well to even small increases in new orders and freight rates. While it is too early to call for a market recovery , we are seeing improved sentiment on market players that are likely to emerge from industry restructuring stronger.

Our top picks are (Buy/TP raised to W200,000) and (Buy/TP: W94,000), both of which are likely to enjoy share price momentum on the back of their market-leading competitiveness. I n addition, Hyundai Heavy Industries is likely to benefit from its business spin-offs. Meanwhile, we maintain our Trading Buy calls for (TP: W12,700) and Heavy Industries (TP: W4,500); we are confident that both shipbuilders will be able to overcome market uncertainties and post new order increases in 2017.

Contracts of major shipbuilders (2016 annual & 2017 February accumulated)

Shanghai Waigaoqiao Hyundai HI Hyundai HI Dalian Shipbuilding JMU Samsung HI Jiangsu Huangpu Wenchong DSME Hyundai Mipo Beihai Shipyard Wuchang SB Group Samsung HI Daehan Shipbuilding AVIC Krasnoye Sormovo CSC Namura Shipbuilding Zhejiang SB Shin Kurushima Fujian '16 contracts '17 Jan.-Feb. Sredne-Nevsky SY CMHI accumulated contracts Ulstein Ulsteinvik COSCO accumulated Jinhai Heavy Ind Hyundai Mipo Amur Shipyard Jinhai Heavy Ind Minami Nippon Huangpu Wenchong Shanghai Zhenhua Wuchang SB Group VARD Brevik Jinglu Shipyard AVIC MHI ('000 PaxOcean Naikai CGT) Fujian - 200 400 600 800 400 300 200 100 -

Notes: Top 20 shipbuilders that received more than 1% of total contracts in 2016 are selected Source: Mirae Asset Daewoo Research

Auto (Neutral /Maintain )

February shipments: Weak seasonality and sluggishness continue ¢ Domestic sales rose YoY due to increase in business days and demand for new Sector Update models March 3, 2017 ¢ Weak seasonality and sluggish shipments continue to weigh on HMC and ¢ Still upbeat on 1H earnings momentum

Mirae Asset Daewoo Co., Ltd. 1. Domestic sales rose YoY due to increase in business days and [Auto/Tire ] demand for new models

Young -ho Park In February 2017, the domestic sales volume of Korea's five major automakers rose 8.1% +822 -3774 -1743 YoY. As this year’s Lunar New Year holiday fell in January (vs. February in 2016), February [email protected] 2017 had three more business days YoY. In addition, demand for new models, including Hyundai Motor's (HMC) Grandeur, Renault Samsung's SM6 and QM6, and SsangYong

Motor's Tivoli, also helped to drive up sales.

By company, HMC reported 8.7% YoY improvement in domestic sales volume for February, while Renault Samsung and SsangYong Motor posted growth of 87.8% and

16.1% YoY, respectively. In the near term, HMC’s monthly sales of the new Grandeur model should remain at roughly 10,000 units, with the order backlog standing at around 20,000. Meanwhile, major automakers reported double-digit growth in domestic sales volume on a MoM basis, with the number of business days returning to normal in February. 2. Weak seasonality and sluggish shipments continue to weigh on HMC and Kia Korea's five major automakers reported export growth of just 4.8% YoY in February, with the increase in the number of business days having a limited impact. Exports at HMC continued to be dragged down by the temporary suspension (January to end-February) of the no. 1 plant for adjustments ahead of the addition of a new small-sized SUV model. We estimate that this issue dragged down production by an average of 22,000 units per month. Unlike HMC, Kia increased exports to emerging markets in February, backed by growing expectations for a recovery in demand amid a visible reduction in inventory levels. In February, shipments from overseas plants remained sluggish, edging up just 1.6% YoY at HMC and falling 5.4% YoY at Kia. Excluding Chinese facilities, major overseas plants saw a YoY decline in the number of business days. In China, we believe the reduction of tax benefits (vs. 2016 levels) led to sluggish market demand and weak shipments. In the US, fleet sales (low-margin, high-volume sales to rental car companies) were scaled back to improve profitability, pulling down ex-factory shipments as a result. All in all, global shipments at HMC and Kia remained sluggish during January-February due to weak seasonality, a decline in exports at HMC, and a dip in Chinese/US ex-factory shipments at both HMC and Kia. As such, we find that global shipments are lagging our initial forecasts for 1Q.

Table 1. Actual shipments vs. our forecasts (HMC and Kia) (units, %) Jan.-Feb. preliminary (A) 1Q17 forecast (B) (A/B)*100 HMC Domestic 98,213 168,353 58.3 Exports 120,103 237,291 50.6 Korea total 218,316 405,644 53.8 Overseas total 465,677 799,310 58.3 Global shipments 683,993 1,204,954 56.8 Global retail sales (Jan.) 339,400 1,186,200 28.6 Kia Domestic 74,170 119,055 62.3 Exports 159,162 246,160 64.7 Korea total 233,332 365,215 63.9 Overseas total 193,310 351,840 54.9 Global shipments 426,642 717,055 59.5 Global retail sales (Jan.) 199,624 705,355 28.3 Source: Company data, Mirae Asset Daewoo 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.

Macro Trend Steep export growth eases strong won impact

February export surprise on higher prices and more business days In February, Korea’s customs-cleared exports climbed by 20.2% YoY, with non-ship export growth (YoY) reaching 24%, far exceeding market expectations for a second consecutive month. The export surprise was driven by: 1) an estimated 10% YoY rise in export p rices; and 2) an additional two business days in February 2017, compared Strategy Report with 2016 (22 versus 20). March 3, 2017 Korea’s EM-bound exports continued to outperform their DM-bound counterparts. Amid continued strong ASEAN-bound exports, China-bound exports showed acceler ated growth in February (28.7% YoY in February, versus 13.4% in February). Mirae Asset Daewoo Co., Ltd. Latin America-bound exports also reported YoY improvement. With regard to DM-

[Economy/FX ] bound exports, EU-bound exports posted robust growth (YoY), in contrast to flattish growth in US-bound exports. Heechan Park +822 -3774 -1850 Exports to expand around 10% on annual basis [email protected] We expect YoY export growth to be around 10% in March and beyond, as

Yoon Oh February’s export growth of around 20% should be temporary, in light of the +822 -3774 -1849 increased number of operating days. In 1H17, we expect e xports to grow by 12% [email protected] YoY. On an annual basis, exports will likely expand by around 10% YoY, given the high base of comparison in 4Q16. Of note, export growth is likely to be driven mainly by higher prices and, to a lesser extent, by higher volume. Export prices should climb by 8-10% through 3Q, backed by: 1) higher oil prices (stemming from a low base of comparison); 2) rising semiconductor prices (which have recently contributed 40% of the overall export price hike); and 3) the easing of export competition arising from Chinese makers’ supply reduction.

Won appreciation not especially strong The won appears to be appreciating sharply this year. However, we should also consider the fact that the Korean currency weakened rapidly at the end of last year, following the US presidential election. While the MSCI Emerging Market (EM) Currency Index has already broken above the previous year’s high this year, the won has not yet reached last year’s peak against the US dollar. Accordingly, the won does not appear to be particularly strong, compared with other EM currencies.

In addition, won-denominated export prices remain on the rise, as the uptrend in US dollar-denominated export prices is outpacing the won’s appreciation against the dollar. Thus, export-oriented f irms should see a steady improvement in earnings, despite the recent strengthening of the won. Given that the average USD-KRW rate stood at 1,140 from March through October (before the US presidential election) last year, won-translated exports should remain robust, even if the USD-KRW rate falls slightly from the current levels

February export growth (excluding ships) shows greater rise Growth in KRW -denominated export s, despite drop in

than export price increase USD/KRW rate

(% YoY) (% YoY) 30 USD-denominated exports 25 Exports ex. ships Export prices 25 KRW-denominated exports 20 20 15 15 10 10 5 5 0 0 -5 -5 -10 -10 -15 -15 -20 -20 14.1 14.7 15.1 15.7 16.1 16.7 17.1 2013 2014 2015 2016 2017

Source: Mirae Asset Daewoo Research Source: Mirae Asset Daewoo Research

Mirae Asset Daewoo Research Key Universe Valuations March 3, 2017

※All data as of close March 2, 2017, unless otherwise noted.

17F Earnings growth Mkt Cap Price P/E (x) P/B (x) ROE (%) Ticker Company Div Yield OP EPS (Wbn) (W) (%) 17F 18F 17F 18F 17F 18F 17F 18F 17F 18F 005930 278,686 1,981,000 1.8 29.9 -1.0 31.6 0.9 11.0 10.9 1.5 1.3 15.1 13.5 000660 SK Hynix 34,289 47,100 1.3 113.1 -30.4 81.2 -30.8 6.4 9.3 1.2 1.1 20.5 12.2 005380 Hyundai Motor 31,279 142,000 2.9 7.3 15.2 0.2 13.7 7.5 6.6 0.6 0.5 7.9 8.5 015760 KEPCO 27,572 42,950 3.5 -17.7 2.1 -20.6 5.2 4.8 4.6 0.4 0.3 7.8 7.8 005490 POSCO 25,066 287,500 2.8 21.5 2.7 71.8 3.2 12.1 11.7 0.6 0.5 4.9 4.9 012330 23,509 241,500 1.7 5.6 4.8 5.5 3.5 7.3 7.1 0.7 0.7 10.8 10.1 055550 22,359 47,150 13.0 8.6 -0.8 8.4 8.2 7.6 0.7 0.6 8.4 8.6 032830 Samsung Life 21,600 108,000 - - - - 0.0 0.0 051910 LG Chem 19,907 282,000 1.8 19.2 4.5 34.5 4.7 12.1 11.6 1.4 1.3 12.5 11.8 105560 KB Financial Group 19,818 47,400 77.4 5.8 8.9 4.1 7.9 7.6 0.6 0.6 7.7 7.7 017670 SK Telecom 18,814 233,000 4.3 4.4 2.0 -14.0 1.3 13.1 13.0 1.0 1.0 8.8 8.6 034730 SK Holdings 15,268 217,000 1.6 9.2 1533.5 41.8 1866.3 9.2 0.5 1.0 0.3 11.8 105.3 000270 Kia Motors 14,796 36,500 3.3 -1.0 6.7 3.0 5.2 5.2 5.0 0.5 0.5 10.3 10.1 090430 AmorePacific 14,702 251,500 0.8 20.5 17.7 17.9 16.2 23.1 19.9 3.8 3.3 17.9 17.8 096770 SK Innovation 14,378 155,500 3.1 -12.4 5.3 21.9 5.9 7.2 6.8 0.8 0.7 11.5 11.2 033780 KT&G 14,004 102,000 3.7 -0.5 3.8 -11.8 3.5 12.9 12.5 1.7 1.6 14.7 14.0 009540 Hyundai Heavy Industries 12,730 167,500 -19.9 -2.0 34.9 -2.6 16.5 17.0 0.8 0.8 5.2 4.9 011170 Lotte Chemical 12,528 365,500 1.0 29.1 -2.1 41.2 -1.0 4.9 5.0 1.1 0.9 24.7 19.8 051900 LG Household & Health Care 12,385 793,000 0.9 10.9 11.4 18.9 4.0 20.7 19.9 4.4 3.7 24.0 20.8 000810 Samsung F&M 12,246 258,500 - - - - 0.0 0.0 003550 LG Corp. 10,871 63,000 2.1 22.3 0.0 22.9 3.5 8.4 8.1 0.8 0.7 9.3 8.9 086790 10,745 36,300 23.3 10.3 12.9 10.5 7.1 6.4 0.4 0.4 6.5 6.8 066570 LG Electronics 10,179 62,200 0.6 61.9 20.2 904.0 28.3 14.6 11.3 1.0 0.9 6.8 8.2 034220 LG Display 10,037 28,050 1.8 75.8 - 109.9 - 7.0 0.7 11.0 0.0 018260 Samsung SDS 9,866 127,500 0.4 6.5 1257.9 5.6 1074.5 20.1 1.7 1.8 0.9 9.5 69.6 010950 S-Oil 9,840 87,400 4.9 0.2 7.1 0.8 7.1 8.0 7.5 1.4 1.2 18.3 17.4 002790 AmoreG 9,029 109,500 0.4 12.9 18.7 11.0 16.4 25.6 22.0 2.9 2.6 12.6 13.1 006400 Samsung SDI 8,596 125,000 0.8 - 3452.2 175.6 9.2 14.6 13.4 0.8 0.7 5.5 5.7 004020 8,300 62,200 1.2 1.7 1.7 7.8 2.2 9.3 9.1 0.5 0.5 5.4 5.3 030200 KT 8,108 31,050 2.6 2.2 0.1 10.3 0.2 10.3 10.3 0.6 0.6 6.7 6.3 010130 Korea Zinc 7,925 420,000 2.0 7.2 1.7 7.0 1.7 12.6 12.3 1.3 1.2 11.0 10.4 161390 7,098 57,300 0.9 0.0 15.6 0.0 12.8 8.4 7.4 1.1 1.0 13.6 13.7 024110 6,916 12,350 15.7 7.4 11.7 7.6 6.3 5.8 0.4 0.4 7.0 7.2 021240 Coway 6,874 90,000 4.0 42.7 7.1 50.1 7.2 18.9 17.7 5.3 5.0 29.2 31.0 023530 Lotte Shopping 6,676 212,000 0.9 13.7 - 16.3 - 12.5 0.4 3.2 0.0 032640 LG Uplus 5,872 13,450 3.0 9.8 6.8 6.2 10.3 11.3 10.2 1.1 1.0 10.3 10.5 086280 5,663 151,000 2.0 7.6 1.8 9.8 7.4 10.2 9.5 1.5 1.3 15.1 14.4 139480 Emart 5,659 203,000 0.7 13.7 11.8 18.1 19.3 12.8 10.7 0.7 0.7 5.7 6.4 088350 Hanwha Life 5,576 6,420 - - - - 0.0 0.0 047810 Korea Aerospace Industries 5,488 56,300 0.7 9.1 10.6 -10.7 16.0 22.9 19.8 3.4 3.0 15.9 16.1 000720 Hyundai E&C 5,317 47,750 1.0 11.9 6.8 13.7 5.5 10.7 10.1 0.8 0.8 7.9 7.7 078930 GS Holdings 5,110 55,000 2.7 -5.3 10.4 -0.8 11.8 6.6 5.9 0.7 0.6 11.0 11.2 027410 BGF Retail 5,029 101,500 1.2 30.9 21.6 24.1 21.9 22.1 18.1 4.5 3.7 22.2 22.5 097950 CJ CheilJedang 4,672 355,000 0.7 10.4 9.8 28.0 14.3 15.0 13.1 1.4 1.3 9.9 10.4 010140 Samsung Heavy Industries 4,427 11,350 - 4.2 - 7.7 62.5 58.0 0.9 0.8 1.7 1.8 005830 Dongbu Insurance 4,390 62,000 - - - - 0.0 0.0 036460 KOGAS 4,385 47,500 0.4 19.0 5.2 - 15.2 12.7 11.0 0.5 0.4 3.7 4.1 009150 Samsung Electro-Mechanics 4,385 58,700 0.9 601.5 47.0 440.2 66.6 57.5 34.5 1.0 1.0 1.9 3.1 009830 Hanwha Chemical 4,071 24,700 0.6 -6.5 18.3 12.5 7.4 4.8 4.5 0.7 0.6 15.0 14.0 001800 Orion 3,966 660,000 0.9 7.1 9.2 3.3 10.1 16.7 15.2 2.2 2.0 14.4 14.0 Source: Mirae Asset Daewoo Research

Mirae Asset Daewoo Research Market Data March 3, 2017

※All data as of close March 3, 2017 unless otherwise noted.

Other Major Indices Economic Indicators Close Net Chg 1D (%) YTD (%) Close 1D ago 1M ago 1Y ago MSCI Korea* 423.52 1.08 0.26 11.05 USD/KRW 1,142.00 1,132.30 1,149.20 1,232.70 KOSPI 2,078.75 -23.90 -1.14 2.60 JPY100/KRW 998.21 993.38 1,018.48 1,085.46 KOSDAQ 600.73 -8.20 -1.35 -4.95 EUR/KRW 1,199.84 1,193.73 1,236.71 1,340.01 Dow Jones* 21,002.97 -112.58 -0.53 5.64 3Y Treasury 1.71 1.71 1.69 1.50 S&P 500* 2,381.92 -14.04 -0.59 5.50 3Y Corporate 2.18 2.18 2.15 1.99 NASDAQ* 5,861.22 -42.81 -0.73 7.96 DDR2 1Gb* 1.25 1.25 1.26 1.02 Philadelphia Semicon* 974.33 -10.93 -1.11 7.38 NAND 16Gb* 2.12 2.12 1.86 1.38 FTSE 100* 7,382.35 -0.55 -0.01 2.85 Oil (Dubai)* 54.85 55.13 54.94 31.95 Nikkei 225 19,469.17 -95.63 -0.49 -0.64 Gold* 1,232.90 1,250.00 1,216.70 1,241.80 Hang Seng* 23,728.07 -48.42 -0.20 7.12 Customer deposits (Wbn)* 22,691 21,534 Taiwan (Weighted) 9,648.21 -43.59 -0.45 4.05 Equity type BC (Wbn)(Mar. 1) 71,364 72,347 83,385 Note: * as of March 2, 2017 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 NCsoft 24.21 Amore Pacific 59.33 Hynix 23.41 Hyundai Mobis 41.13 Hyundai Mobis 19.91 38.75 KODEX 200 Futures Inverse 2X 17.51 Samsung Electronics 31.25 Hyundai Motor (2P) 19.59 Hynix 30.77 Hyundai Heavy Industries 17.24 Hyundai Motor 30.17 Kia Motors 15.33 Samsung Electronics (P) 26.46 Samsung F&M Insurance 16.66 Amore Pacific 28.45 LG Electronics 14.03 LG Household & Health Care 14.90 Samsung Electronics (P) 15.20 KODEX LEVERAGE 26.41 Samsung 13.54 KODEX LEVERAGE 14.80 LG Display 13.85 AmorePacific 17.89 Samsung Electronics 9.97 Samsung F&M Insurance 9.23 SK Telecom 10.76 NCsoft 16.45 KODEX INVERSE 8.74 KB Financial Group 8.45 S-Oil 10.16 Hyundai Motor (2P) 15.77 LG Chem 8.19 S-Oil 7.97 KT 9.39 Hotel Shilla 15.51 Lotte Shopping 7.58 Korea Zinc 6.96 Hana Tour 8.85 Kia Motors 13.57 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 CJ E&M 8.96 OSSTEM IMPLANT 6.06 Interflex 2.63 Paradise 11.17 4.04 Daum Communications 3.88 Celltrion 2.09 SM 3.32 WONIK IPS 3.43 Paradise 3.08 Modetour Network 1.31 WONIK IPS 2.68 Modetour Network 1.84 EO Technics 2.03 EO Technics 1.22 CJ E&M 2.39 GS Home Shopping 1.79 Hugel 1.56 ViroMed 0.94 Koh Young 1.82 Medy-tox 1.72 Agabang 1.16 Eugene Corporation 0.84 HENG SHENG GROUP 1.38 Koh Young 1.56 BH,LTD. 1.16 SK Materials 0.72 Posco Chemtech 1.36 Interflex 1.43 GNCO 1.11 Webzen 0.68 GS Home Shopping 1.36 Fine DNC 1.42 iNtRON Bio 1.10 LOEN 0.63 Rothwell 1.12 Semiconductor 1.26 Tes 1.02 HyVISION 0.62 Kolon Life Science 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 1,981,000 -5,000 278,686 Celltrion 101,000 0 11,776 Hynix 47,100 -600 34,289 Daum Communications 85,800 500 5,806 Samsung Electronics (P) 1,545,000 -22,000 31,693 CJ E&M 77,200 2,100 2,990 Hyundai Motor 142,000 -6,500 31,279 Medy-tox 408,100 -4,500 2,308 KEPCO 42,950 -200 27,572 LOEN 81,800 900 2,069 NHN 809,000 -6,000 26,667 SK Materials 168,900 500 1,782 POSCO 287,500 -4,000 25,066 Komipharm 32,000 -50 1,750 Hyundai Mobis 241,500 -9,000 23,509 ViroMed 95,600 -300 1,525 SAMSUNG C&T 121,500 0 23,047 Com2us 111,400 100 1,433 Shinhan Financial Group 47,150 100 22,359 GS Home Shopping 209,000 -1,900 1,372 Source: