July 10, 2012

KOREA

Company News & Analysis Major Indices Close Chg Chg (%) Hyundai Steel (Buy/TP: W140,000) KOSPI 1,829.45 -6.68 -0.36 Now is the time for patience; Liftoff expected in 2013 KOSPI 200 240.88 -0.85 -0.35 KOSDAQ 492.34 -2.89 -0.58 Hana Financial Group (Buy/TP: W61,000) Solid fundamentals clouded by weak earnings Turnover ('000 shares, Wbn) Volume Value Doosan Corp. (Buy/TP: W210,000) KOSPI 363,939 3,314 Positive momentum to rise in 2H KOSPI 200 56,115 2,660 KOSDAQ 808,068 1,978

Market Cap (Wbn) Value KOSPI 1,053,299 KOSDAQ 107,033

KOSPI Turnover (Wbn) Buy Sell Net Foreign 780 893 -112 Institutional 655 681 -26 Retail 1,658 1,486 172

KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 55 56 -1 Institutional 54 54 0 Retail 1,871 1,869 3

Program Buy / Sell (Wbn) Buy Sell Net KOSPI 632 616 16 KOSDAQ 6 9 -3

Advances & Declines Advances Declines Unchanged KOSPI 289 518 88 KOSDAQ 327 605 65

KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Samsung Electronics 1,127,000 1,000 398 KODEX LEVERAGE 10,980 -75 214 KODEX INVERSE 8,105 35 153 LG Chem 301,000 -6,000 122 OCI 216,500 -13,000 96

KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Agabang 13,900 -1,350 93 Daewoo Solar 530 24 66 EG 63,600 -7,100 62 NEOWIZ Games 25,700 2,850 43 DBSM 8,110 -790 43 Note: As of July 10, 2012

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.

Company July 10, 2012

Steel Hyundai Steel (004020 KS) Daewoo Securities Co., Ltd. Seung-hun Jeon Now is the time for patience; Liftoff expected in 2013 +822-768-2713 [email protected] Maintain Buy call with TP of W140,000 Aiden Lee +822-768-3297 We maintain our Buy call on Hyundai Steel with a target price of W140,000. We [email protected] believe that the company’s potential 2012 earnings deterioration has already been priced in. Excluding the value of Hyundai Mobis shares, the company’s shares are trading at a 2012F P/B of only 0.9x on a ROE of 10.1%. If the present value of Hyundai Steel’s third blast furnace (W15,000/sh) is taken into account, the attractiveness of the company’s shares should further increase. We expect Hyundai Buy (Maintain) Steel’s shares to skyrocket once the steel market turns around. Target Price (12M, W) 140,000 Share Price (07/09/12, W) 86,200 2Q Preview: Solid results likely thanks to limited product price cuts Expected Return (%) 62.4 EPS Growth (12F, %) 6.0 For 2Q, we project Hyundai Steel to post revenues of W3.83tr (up 7.6% QoQ) and Market EPS Growth (12F, %) 18.1 an operating profit of W330.5bn (up 108.1% QoQ) under consolidated K-IFRS. The P/E (12F, x) 9.3 company’s 2Q operating profit is likely to slightly exceed the consensus (W321.5bn), Market P/E (12F, x) 9.4 as: 1) Hyundai Steel’s product price cuts were smaller than input cost declines, and KOSPI 1,836.13 2) the company received compensation for its efforts to conserve energy during Market Cap (Wbn) 7,354 peak hours. For the quarter, we forecast that profits per tonne for hot-rolled coils Shares Outstanding (mn) 85 (HRC) and heavy plates increased on the back of an 8% QoQ decline in blast Avg Trading Volume (60D, '000) 385 Avg Trading Value (60D, Wbn) 35 furnace input costs and limited ASP drops (down 0.5% and 1.4% for HRCs and Dividend Yield (12F, %) 0.6 heavy plates, respectively). And we also forecast that rebar profits per tonne rose Free Float (%) 64.7 3.4% QoQ. Meanwhile, despite a drop in the ASP (down 1.0% QoQ), we estimate 52-Week Low (W) 74,200 that the company achieved revenue growth on the back of a 10.3% QoQ increase in 52-Week High (W) 139,000 overall sales volume (driven by strong seasonality). Beta (12M, Daily Rate of Return) 1.44 Price Return Volatility (12M Daily, %, SD) 2.9 In 3Q, we project Hyundai Steel’s operating profit to deteriorate 13.0% QoQ to Foreign Ownership (%) 18.9 W287.7bn, as: 1) we forecast 3Q sales volume to decrease 7.6% QoQ due to the Major Shareholder(s) arrival of a weak season, 2) high US$/W rates during 2Q should be reflected in 3Q Kia Motors et al.(33.89%) costs, and 3) product prices are likely to drop due to the contractions of overseas NPS (9.13%) Capital Group International lnc. (5.26%) steel markets. Price Performance Three catalysts expected to come after 4Q (%) 1M 6M 12M Absolute 0.2 -9.2 -37.3 We expect Hyundai Steel to see three catalysts after 4Q. Relative 0.2 -9.7 -21.5 Key Business First, if concerns over the global economy linger, the Chinese government will need Hyundai Steel produces flat and long to expand infrastructure investments. Given that the country’s net exports are products. The company has constructed making a negative contribution to GDP growth and consumption is unlikely to surge blast furnaces and is supplier of core materials to the Hyundai-Kia Automotive in the near term, investment expansion (at least in the near term) is likely to be the Group country’s only option for averting a hard landing.

Share price FY Revenues OP OP Margin NP EPS EBITDA FCF ROE P/E P/B EV/EBITDA 120 KOSPI (Wbn) (Wbn) (%) (Wbn) (Won) (Wbn) (Wbn) (%) (X) (X) (X) 100 12/10 10,236 1,059 10.4 922 10,812 1,459 -3,014 12.3 11.5 1.3 12.4

80 12/11 15,260 1,304 8.6 747 8,758 1,977 -835 8.5 10.9 0.9 8.6 12/12F 14,598 1,102 7.6 792 9,281 1,811 -2 8.4 9.3 0.8 9.0 60 12/13F 15,869 1,542 9.7 1,060 12,426 2,237 197 10.2 6.9 0.7 7.4 40 12/14F 17,301 1,894 11.0 1,264 14,817 2,731 1,287 11.0 5.8 0.6 5.7 7/11 11/11 3/12 7/12 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates

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. Company July 10, 2012

Second, we believe that Hyundai Steel’s low self-production of iron ore (which has been considered a major weakness) should emerge as a strength after 2013. As iron ore production expansion is likely to outpace steel production growth, steelmakers’ pricing power is highly likely to recover.

Third, if steelmakers’ earnings improve thanks to the aforementioned catalysts, the value of Hyundai Steel’s third blast furnace (scheduled to be launched in 2H13) should re-emerge. The company’s current share price does not reflect the value of the third blast furnace.

Table 1. Quarterly earnings forecasts for Hyundai Steel 2011 2012F 2Q12 change %

1Q 2Q 3Q 4Q Annual 1Q 2QF 3QF 4QF Annual QoQ YoY Revenue (Wbn) 3,564 4,056 3,749 3,890 15,260 3,558 3,829 3,499 3,711 14,598 7.6 -5.6 Operating profit (Wbn) 309 416 286 294 1,304 159 330 288 325 1,102 108.1 -20.5 Pretax profit (Wbn) 341 429 -192 331 909 181 232 263 302 978 28.3 -45.8 Net profit (Wbn) 267 344 -137 273 747 154 186 211 241 792 20.7 -46.0 OP margin (%) 8.7 10.3 7.6 7.5 8.5 4.5 8.6 8.2 8.8 7.6 - Pretax margin (%) 9.6 10.6 -5.1 8.5 6.0 5.1 6.1 7.5 8.1 6.7 - - Net profit margin (%) 7.5 8.5 -3.7 7.0 4.9 4.3 4.9 6.0 6.5 5.4 - - US$/W 1,120 1,083 1,086 1,144 1,108 1,131 1,152 1,135 1,120 1,135 1.8 6.3 Source: Company data, KDB Daewoo Securities Research

Figure 1. Domestic HRC prices Figure 2. Domestic rebar prices

(W'000/tonne) Domestic HRC spot price (L) (x) (US$/tonne) (x) 1,150 Imported HRC price/domestic spot price (R) 1.3 1,300 Domestic rebar spot price (L) 1.4 Imported rebar price (L) 1,150 Imported rebar price/domestic spot price (R) 1.3 1,000 1.2

1,000 1.2 850 1.1 850 1.1 700 1.0 700 1

550 0.9 550 0.9

400 0.8 400 0.8 05 06 07 08 09 10 11 12 05 06 07 08 09 10 11 12

Source: Steeldaily, KDB Daewoo Securities Research Source: Steeldaily, KDB Daewoo Securities Research

2 Company July 10, 2012

Banks Hana Financial Group (086790 KS) Daewoo Securities Co., Ltd. Taye Shim Solid fundamentals clouded by weak earnings +822-768-4178 [email protected] 2Q Earnings to miss expectations Yong-uk Ku +822-768-4494 We expect Hana Financial Group (HFG) to deliver a 2Q net profit of W232.8bn [email protected] (down 82% QoQ; down 53% YoY) which is 25% lower than the market consensus

(W310.2bn) and 42% lower than our previous estimate. We believe that extraordinary items were mostly responsible for HFGÊs weaker-than-previously- expected 2Q performance. Although sluggish 2Q earnings are likely to add volatility to HFGÊs share price trend, we believe that the companyÊs underlying operations Buy (Maintain) remain solid. Target Price (12M, W) 61,000 Share Price (07/09/12,W) 35,850 Fundamentals remain intact Expected Return (%) 70.2 EPS Growth (12F, %) 103.1 Stripping away extraordinary items, we believe that HFGÊs 2Q net profit would come Market EPS Growth (12F, %) 12.3 in around W400bn, which we consider to be the companyÊs recurring quarterly P/E(12F, x) 3.5 earnings level. Moreover, we anticipate HFGÊs core fundamentals to be in better Market P/E(12F, x) 8.5 shape than those of its large-cap peers. We expect the companyÊs robust lending KOSPI 1,836.13 growth (on a consolidated level) to keep interest revenues and net interest margin Market Cap (Wbn) 8,713 stronger than its peersÊ. For 2Q, SG&A expenses are likely to be distorted due to a Shares Outstanding (mn) 243 one-off bonus payout; however, cumulative cost-to-income ratio is expected to Avg Trading Volume (60D, '000) 935 Avg Trading Value (60D, Wbn) 36 remain below 40%. We also expect HFGÊs recurring provisioning expenses to be Dividend Yield (12F, %) 4.1 well tamed and anticipate sound credit quality. Free Float (%) 89.8 52-Week Low 29,000 Focus on structural ROE accretion 52-Week High 44,900 Despite the fact that HFGÊs 2Q earnings are likely to be weak, we retain our positive Beta (12M, Daily Rate of Return) 1.1 Price Return Volatility (12M Daily, %,SD) 2.6 view on the company. We believe that investors have yet to fully appreciate the Foreign Ownership (%) 63.9 ROE accretion that HFG is enjoying following its takeover of Korea Exchange Bank Major Shareholder(s) (KEB). Since acquiring KEB on February 9th, HFG has increased its stake in the bank NPS (9.35%) from 57.3% to 60.0% (as of June 29th). Given that KEB is trading at a 2012F P/B of 0.59x, we believe that any purchases of KEB shares by HFG should be ROE- accretive. Moreover, we expect KEBÊs management (and employees) to focus on Price Performance strengthening the bankÊs operations. Enhanced operating results from KEB should (%) 1M 6M 12M Absolute -4.1 5.1 -7.6 lead to incremental earnings improvement for HFG. Relative -4.2 4.6 8.2 Earnings miss largely priced in; HFG remains one of our top picks Key Business Hana Financial Group, one of South KoreaÊs HFG remains one of our top picks among KDB Daewoo Universe banks. We believe leading financial-services companies, has various business units, including personal that recent chatter about HFGÊs likely 2Q earnings miss has been largely reflected in and commercial banking, corporate and the current share price (2012F P/B of 0.55x). We expect investors to award HFG investment banking, and asset with fair valuations going forward on the strength of the companyÊs core management. fundamentals.

Share price FY Total OP PPOP Net OP Pretax NP NP EPS BPS P/E P/B ROE ROA 140 KOSPI (Wbn) (Wbn) (Wbn) (Wbn) (Wbn) (W) (W) (x) (x) (%) (%) 120 12/10 3,885 2,093 1,281 1,371 1,012 4,777 50,389 9.1 0.9 9.5 0.7 100 12/11 4,386 2,278 1,740 1,723 1,228 5,053 57,958 7.0 0.6 9.5 0.7 80 12/12F 9,547 5,428 3,760 3,856 2,494 10,262 65,345 3.5 0.5 16.6 0.8 60 12/13F 9,290 4,942 3,170 3,268 1,642 6,755 70,209 5.3 0.5 10.0 0.4 40 12/14F 9,878 5,346 3,565 3,664 1,942 7,990 75,962 4.5 0.5 10.9 0.4 7/11 9/11 11/11 1/12 3/12 5/12 7/12 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates

Holding Companies Doosan Corp. (000150 KS) Daewoo Securities Co., Ltd. Dae-ro Jeong Positive momentum to rise in 2H +822-768-4160 [email protected] Maintain Buy call with TP of W210,000 We maintain our Buy call on Doosan Corp. with a target price of W210,000. We strongly believe that the companyÊs in-house operations will show profit growth via

overseas production expansion. In addition, Doosan Corp. is buying back additional shares to boost shareholder value and could cancel its treasury shares. Furthermore, affiliate-related risks appear limited in light of Doosan Infracore InternationalÊs (DII)

productivity improvement and Doosan InfracoreÊs debt repayment. Considering that Buy (Maintain) Doosan Corp.Ês shares are trading at a 45% discount to the companyÊs net asset Target Price (12M, W) 210,000 value, we believe that they are undervalued. Share Price (07/09/12, W) 134,500 2Q Preview: OP forecast at W113.7bn (up 32.2% QoQ) Expected Return (%) 56.1 EPS Growth (12F, %) 10.9 For 2Q, we project Doosan Corp. to post revenues of W992.1bn (up 5.3% QoQ) and Market EPS Growth (12F, %) 18.1 an operating profit of W113.7bn (up 32.3% QoQ). And we forecast the companyÊs P/E(12F, x) 12.3 in-house operations to post revenues of W468.5bn (down 1.5% YoY) and an Market P/E(12F, x) 9.4 operating profit of W40.7bn (down 0.7% YoY) for the quarter. Among in-house KOSPI 1,836.13 operations, we estimate that the Electro-Materials business groupÊs earnings Market Cap (Wbn) 2,787 Shares Outstanding (mn) 26 remained robust (operating profit of W19.2bn; up 18.6% YoY) thanks to an increase Avg Trading Volume (60D, '000) 90 in high-margin product (e.g., FCCL) sales as well as positive effects from customersÊ Avg Trading Value (60D, Wbn) 12 strong sales of smartphones (e.g., Galaxy S II) and tablet PCs. On the other hand, Dividend Yield (12F, %) 2.2 we think that the Mottrol business group incurred an operating profit decline of Free Float (%) 34.7 61.1% YoY (to W8.7bn), affected by the sluggish Chinese excavator market. 52-Week Low 113,500 52-Week High 175,500 Positive momentum to rise in 2H Beta (12M, Daily Rate of Return) 0.92 Price Return Volatility (12M Daily, %,SD) 2.3 We anticipate Doosan Corp. to see positive momentum from three sources in 2H. Foreign Ownership (%) 10.8 1) Doosan Heavy I&C (DHIC; a key subsidiary) is likely to generate order momentum Major Shareholder(s) in 2H (2012F orders of W11tr). DHIC is likely to show stable earnings growth on the Park Yong Kon et al. (45.11%) back of its sufficient order backlogs, which should lead to a rise in the value of Treasury Fund (15.01%) Doosan Corp.Ês DHIC shares. NPS (6.04%) Price Performance 2) Doosan Corp. is working to sell its stakes in System Restaurant Service and Korea (%) 1M 6M 12M Aerospace Industries, as well as other non-core Doosan Group assets. Once these Absolute 7.6 -6.3 -3.2 sales are completed, gains on such sales should help improve the companyÊs Relative 7.6 -6.8 12.6 financial position (via debt repayment, etc.). Key Business A holding company with in-house 3) Doosan Corp.Ês in-house operations should show earnings growth in 2H. The operations. Electro-Materials group plans to ramp up capacity by adding three more lines (one in Korea and two in China) to meet rising demand. Also, as the Chinese excavator market is likely to pick up (albeit slowly) on the governmentÊs resumption of infrastructure (e.g., railway) investments, Mottrol is also likely to rebound.

FY Revenues OP OP Margin NP EPS EBITDA FCF ROE P/E P/B EV/EBITDA Share price KOSPI 140 (Wbn) (Wbn) (%) (Wbn) (Won) (Wbn) (Wbn) (%) (X) (X) (X) 120 12/10 3,753 900 24.0 768 24,986 981 3,493 30.7 6.2 1.5 5.1 100 12/11 4,033 453 11.2 305 9,893 496 146 9.5 14.5 1.5 10.4 80 12/12F 4,216 516 12.2 303 10,976 596 442 9.2 12.3 1.1 6.7 60 12/13F 4,767 677 14.2 400 14,474 645 264 11.4 9.3 1.0 5.4 40 12/14F 5,338 760 14.2 451 16,335 690 267 11.9 8.2 0.9 4.4 7/11 11/11 3/12 7/12 Notes: All figures are based on consolidated K-IFRS; NP refers to net profit attributable to controlling interests Source: Company data, KDB Daewoo Securities Research estimates

Market Data July 10, 2012

※All data as of close July 10, 2012, unless otherwise noted.

Other Major Indices Economic Indicators Close Net Chg 1D (%) YTD (%) Close 1D ago 1M ago 1Y ago MSCI Korea* 367.45 -7.13 -1.90 2.58 USD/KRW 1,142.40 1,138.40 1,170.70 1,064.30 KOSPI 1,829.45 -6.68 -0.36 0.17 JPY100/KRW 1,435.63 1,429.34 1,469.62 1,309.99 KOSDAQ 492.34 -2.89 -0.58 -2.85 EUR/KRW 1,407.49 1,397.84 1,471.57 1,528.44 Dow Jones* 12,736.29 -36.18 -0.28 4.25 3Y Treasury 3.22 3.21 3.25 3.85 S&P 500* 1,352.46 -2.22 -0.16 5.90 3Y Corporate 3.79 3.78 3.84 4.56 NASDAQ* 2,931.77 -5.56 -0.19 10.69 DDR2 1Gb* 1.24 1.24 1.27 1.10 Philadelphia Semicon* 371.47 -4.57 -1.22 0.78 NAND 16Gb* 1.97 1.96 2.08 2.61 FTSE 100* 5,627.33 -35.30 -0.62 -1.27 Oil (Dubai)* 96.17 96.75 95.97 110.85 Nikkei 225 8,857.73 -39.15 -0.44 3.48 Gold* 1,589.10 1,578.90 1,590.10 1,541.60 Hang Seng* 19,428.09 -372.55 -1.88 2.92 Customer deposits (Wbn)* 17,106 16,856 16,594 16,747 Taiwan (Weighted) 7,251.35 -58.61 -0.80 4.30 Equity type BC (Wbn)(July. 8) 98,992 99,205 98,007 101,334 Note: * as of July 9, 2012 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 KT 21.65 Samsung Electronics 107.20 Samsung Electronics 26.39 KODEX LEVERAGE 24.58 KT&G 13.08 NHN 20.59 POSCO 14.63 LG Chem 17.04 KODEX INVERSE 12.30 KODEX LEVERAGE 17.97 KODEX INVERSE 14.26 Hyundai Eng. & Cosnt. 12.45 Hynix 9.52 LG Electronics 13.76 NHN 13.13 KB Financial Group 8.67 KB Financial Group 6.40 Hyundai Motor 10.98 SK Telecom 9.49 OCI 8.41 Hyundai Heavy Industries 5.92 LG Display 6.54 SK Corp. 7.35 NCsoft 8.41 Samsung F&M Insurance 4.55 Samsung Corp. 6.38 Hyundai Motor 6.57 Shinhan Financial Group 7.93 Kia Motors 4.12 POSCO 5.25 KT 6.14 Daelim Industrial 7.22 SEMCO 3.68 Hana Financial Group 5.06 LG Uplus 5.14 Samsung Engineering 6.69 Woori Finance Group 3.59 SK Corp. 4.57 Glovis 4.42 Hyundai Steel 6.51 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 Seoul Semiconductor 2.48 Neowis Internet 1.61 NEOWIZ Games 6.33 CJ E&M 3.00 SM 1.65 ATTO 0.89 OCI Materials 2.60 SM 2.27 Gamevil 1.07 Medy-tox 0.83 CJ O Shopping 1.08 Seoul Semiconductor 1.88 JCE 0.98 OCI Materials 0.70 TK Corp. 0.99 TERA SEMICON 1.56 Simmtech 0.71 Medipost 0.55 Com2us 0.83 Genic 1.29 EG 0.70 YG Entertainment 0.52 Kolon Life Science 0.79 ICD 1.16 Kolon Life Science 0.64 NEOWIZ Games 0.45 Sung Kwang Bend 0.78 Wemade 1.12 Silicon Works 0.64 CJ O Shopping 0.39 Interflex 0.75 Paradise 1.08 Humax Holdings 0.58 Wemade 0.36 Pyeong Hwa Automotive 0.59 SFA Engineering 1.00 Nexen Tech 0.56 Kornic Systems 0.35 Webzen 0.59 Duk San Hi Metal 0.72 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 1,127,000 1,000 166,006 Celltrion 28,900 0 5,045 Hyundai Motor 228,000 -500 50,223 Seoul Semiconductor 25,500 -100 1,487 POSCO 372,500 -1,500 32,477 Daum Communications 102,000 100 1,376 Kia Motors 73,100 600 29,632 Paradise 14,200 -200 1,291 Hyundai Mobis 269,000 0 26,185 CJ O Shopping 189,000 1,300 1,172 LG Chem 301,000 -6,000 19,948 AHNLAB 108,000 -1,000 1,081 Hyundai Heavy Industries 261,000 -1,000 19,836 SM 50,800 -100 1,038 Samsung Life Insurance 93,600 100 18,720 CJ E&M 25,450 -500 965 Shinhan Financial Group 38,000 -500 18,020 POSCO ICT 6,990 -90 958 Hynix 23,700 0 16,451 SFA Engineering 51,800 100 930 Source: Korea Exchange