December 26, 2014

KOREA

No English report summaries today. Major Indices Close Chg Chg (%) KOSPI 1,948.16 1.55 0.08 KOSPI 200 250.05 -0.02 -0.01 KOSDAQ 535.17 -1.72 -0.32

Turnover ('000 shares, Wbn) Volume Value KOSPI 292,444 3,357 KOSPI 200 48,297 2,057 KOSDAQ 499,651 2,162

Market Cap (Wbn) Value KOSPI 1,212,496 KOSDAQ 141,317

KOSPI Turnover (Wbn) Buy Sell Net Foreign 429 363 66 Institutional 1,038 739 299 Retail 1,845 2,213 -368

KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 76 69 6 Institutional 94 90 4 Retail 1,992 1,984 8

Program Buy / Sell (Wbn) Buy Sell Net KOSPI 652 490 162 KOSDAQ 13 13 0

Advances & Declines Advances Declines Unchanged KOSPI 470 333 73 KOSDAQ 506 449 88

KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Electronics 1,352,000 9,000 309 Ocean Resources 6,200 -800 299 KODEX LEVERAGE 10,620 5 235 135,500 2,500 220 KODEX 200 25,010 30 101

KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Humedix 39,200 -4,400 105 Webzen 29,300 -2,050 78 SNET 8,360 620 63 HISEM 2,220 -390 63 Com2us 126,500 -4,000 50 Note: As of December 26, 2014

Key Universe Valuations December 26, 2014

※All data as of close December 24, 2014, 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 38,438 174,500 1.3 1.9 6.2 3.7 7.1 6.1 5.7 0.7 0.7 13.0 12.4 015760 KEPCO 27,572 42,950 2.1 5.9 10.2 215.0 -57.9 3.4 8.2 0.5 0.4 14.2 5.5 005490 POSCO 25,023 287,000 2.8 26.2 14.5 98.6 20.4 10.1 8.4 0.5 0.5 5.7 6.6 035420 NAVER 24,261 736,000 0.1 38.9 30.3 61.7 34.6 31.7 23.6 7.3 5.6 33.3 32.5 032830 Samsung Life 23,700 118,500 - - - - 0.0 0.0 012330 23,314 239,500 0.9 11.4 8.8 11.8 6.6 5.9 5.5 0.9 0.7 15.8 14.6 017670 SK Telecom 22,609 280,000 3.6 15.8 7.5 13.9 8.0 10.8 10.0 1.3 1.2 13.8 13.6 055550 22,572 47,600 - - - - 0.0 0.0 018260 Samsung SDS 21,937 283,500 0.1 39.5 8.9 29.9 10.0 40.2 36.5 4.7 4.2 11.7 11.5 000270 Motors 21,890 54,000 1.7 19.5 10.2 12.9 7.7 5.5 5.1 0.8 0.7 15.9 14.8 105560 KB Financial Group 14,990 38,800 - - - - 0.0 0.0 000810 Samsung F&M 14,070 297,000 - - - - 0.0 0.0 090430 Amorepacific 13,124 2,245,000 0.3 16.0 22.1 16.7 23.0 32.1 26.1 4.6 4.0 15.5 16.4 051910 LG Chem 12,293 185,500 2.2 19.7 35.2 29.2 36.2 10.7 7.9 1.0 0.9 10.1 12.5 034220 LG Display 12,112 33,850 -7.6 23.2 -17.5 32.3 14.0 10.6 1.0 0.9 7.2 8.8 003550 LG Corp. 11,095 64,300 1.6 18.0 4.2 18.5 5.9 9.0 8.5 0.8 0.8 9.4 9.2 033780 KT&G 10,997 80,100 4.1 1.0 2.4 3.3 -1.5 13.0 13.2 1.7 1.6 14.4 13.2 086280 Hyundai Glovis 10,725 286,000 0.5 12.2 12.2 1.7 10.3 17.9 16.2 3.2 2.7 19.3 17.9 034730 SK C&C 10,375 207,500 0.6 9.9 19.7 15.8 -56.6 19.6 45.1 2.8 2.7 17.6 6.9 066570 LG Electronics 9,753 59,600 0.7 16.2 25.9 67.5 26.8 8.8 6.9 0.8 0.7 9.7 11.1 086790 9,624 33,200 - - - - 0.0 0.0 051900 LG Household & Health Care 9,621 616,000 0.6 18.8 12.2 20.0 14.6 26.3 22.9 5.2 4.3 22.3 21.2 000830 Samsung C&T 9,561 61,200 1.0 26.7 6.4 41.7 6.8 15.2 14.3 0.8 0.8 5.7 5.8 009540 9,044 119,000 1.7 - 103.3 - 118.1 21.7 9.9 0.5 0.5 2.7 5.6 023530 Lotte Shopping 8,770 278,500 0.5 8.3 6.0 15.3 7.3 9.8 9.1 0.5 0.5 5.2 5.3 024110 8,426 15,250 - - - - 0.0 0.0 006400 Samsung SDI 8,321 121,000 1.3 - 71.5 143.2 52.1 30.8 20.3 1.1 1.0 3.5 5.1 030200 KT 8,303 31,800 3.1 - 7.2 - 33.0 15.3 11.5 0.7 0.7 4.9 6.3 096770 SK Innovation 8,248 89,200 3.6 198.4 35.4 - 35.5 11.2 8.2 0.5 0.5 4.8 6.2 003600 SK Holdings 8,171 174,000 1.4 29.8 6.2 34.0 -3.9 5.8 6.0 0.6 0.5 10.9 9.5 010130 Korea Zinc 7,699 408,000 1.2 15.6 5.5 21.5 6.2 12.7 12.0 1.5 1.3 12.5 11.9 004020 7,622 65,400 0.8 -0.5 8.0 1.0 17.7 9.6 8.2 0.5 0.5 5.6 6.2 088350 Hanwha Life 7,270 8,370 - - - - 0.0 0.0 035720 Daum Communications 7,039 122,000 0.9 226.9 35.3 144.0 39.4 28.3 20.3 8.9 6.6 37.2 38.4 035250 6,996 32,700 3.4 7.2 5.3 12.1 7.1 15.9 14.8 2.2 2.0 15.3 15.1 021240 Coway 6,748 87,500 2.3 14.4 13.6 14.3 17.3 22.9 19.5 5.1 4.4 26.0 26.3 161390 6,615 53,400 0.9 7.0 9.0 13.2 10.1 8.0 7.2 1.3 1.1 17.1 16.1 001800 Orion 6,023 1,008,000 0.3 3.6 17.5 12.4 18.5 33.9 28.6 4.3 3.8 13.6 14.2 139480 Emart 5,840 209,500 0.7 12.4 9.7 18.1 13.8 11.3 9.9 0.8 0.7 7.0 7.3 010950 S-Oil 5,708 50,700 2.7 - 62.4 - 62.4 16.9 10.4 1.1 1.0 6.6 10.0 011170 Lotte Chemical 5,621 164,000 0.6 74.8 26.5 87.6 30.4 10.2 7.9 0.8 0.7 8.1 9.7 002380 KCC 5,565 529,000 1.5 7.9 11.4 10.2 12.3 19.7 17.6 1.0 1.0 5.4 5.8 032640 LG Uplus 5,174 11,850 1.9 16.6 3.6 35.9 9.5 16.0 14.6 1.2 1.1 7.5 7.8 010140 4,802 20,800 2.4 152.4 4.2 128.4 6.0 8.1 7.6 0.7 0.6 9.5 9.3 011210 4,773 175,500 0.3 20.6 10.4 11.8 10.5 8.9 8.0 1.5 1.3 18.3 17.0 000720 Hyundai E&C 4,660 41,850 1.4 19.8 5.1 38.8 9.6 7.0 6.4 0.8 0.7 11.6 11.4 036460 Korea Gas 4,634 50,200 2.0 19.1 8.4 0.1 21.8 9.4 7.7 0.5 0.4 5.0 5.8 009150 Samsung Electro-Mechanics 4,325 57,900 0.9 - 68.4 -65.7 60.2 25.5 15.9 1.0 0.9 3.9 6.0 000120 CJ Korea Express 4,323 189,500 51.5 14.5 157.1 9.7 27.4 25.0 1.5 1.4 6.7 6.9 097950 CJ CheilJedang 4,165 317,000 0.6 22.3 7.9 118.2 14.7 15.3 13.3 1.4 1.3 9.7 10.2 Source: KDB Daewoo Securities Research

Market Data December 26, 2014

※All data as of close December 26, 2014, unless otherwise noted.

Other Major Indices Economic Indicators Close Net Chg 1D (%) YTD (%) Close 1D ago 1M ago 1Y ago MSCI Korea* 394.33 0.00 0.00 -10.89 USD/KRW 1,104.30 1,100.50 1,112.80 1,060.40 KOSPI 1,948.16 1.55 0.08 -0.97 JPY100/KRW 918.18 911.54 943.65 1,015.27 KOSDAQ 535.17 -1.72 -0.32 7.84 EUR/KRW 1,348.85 1,339.42 1,388.00 1,450.57 Dow Jones* 18,030.21 6.04 0.03 9.66 3Y Treasury 2.16 2.15 2.10 2.88 S&P 500* 2,081.88 -0.29 -0.01 13.64 3Y Corporate 2.48 2.47 2.41 3.31 NASDAQ* 4,773.47 8.05 0.17 15.22 DDR2 1Gb* 1.35 1.35 1.38 1.60 Philadelphia Semicon* 696.35 1.03 0.15 31.95 NAND 16Gb* 2.18 2.18 2.30 3.42 FTSE 100* 6,609.93 11.75 0.18 -1.61 Oil (Dubai)* 57.63 56.48 76.93 108.44 Nikkei 225 17,818.96 10.21 0.06 12.01 Gold* 1,173.50 1,177.90 1,197.10 1,205.10 Hang Seng* 23,349.34 15.65 0.07 0.04 Customer deposits (Wbn)* 15,594 16,279 15,535 13,721 Taiwan (Weighted) 9,214.07 55.37 0.60 6.98 Equity type BC (Wbn)(Dec. 23) 79,409 79,506 79,160 84,775 Note: * as of December 24, 2014 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 Macquarie Korea Infrastructure 54.96 KODEX 200 16.66 Samsung Electronics 81.74 8.77 Fund CHEIL INDUSTRIES 7.59 Hyundai Motor 12.35 KODEX LEVERAGE 72.45 Honam Petrochemical 6.85 Honam Petrochemical 6.96 8.39 CHEIL INDUSTRIES 41.06 Hyundai Heavy Industries 6.29 POSCO 5.01 Samsung Electronics (P) 7.64 SAMSUNG SDS 23.73 6.13 Samsung Corp. 4.79 KT&G 7.26 Samsung Life Insurance 14.78 KT&G 5.47 Amore Pacific 4.47 SK Telecom 6.30 Hynix 10.66 Samsung Corp. 5.30 AmorePacific 3.45 NHN 3.87 KB Financial Group 9.68 KODEX INVERSE 4.60 Hyundai Mipo Dockyard 2.93 KODEX INVERSE 3.56 Woori Bank 7.70 Industrial Bank of Korea 4.55 LG Chem 2.87 KOREA AEROSPACE 2.83 Hyundai Motor 7.30 LG Electronics 4.30 KEPCO 2.81 2.54 Hyundai Mobis 7.11 Woori Investment Securities 4.17 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 EO Technics 2.35 Humedix 1.88 EO Technics 8.11 HISEM 4.18 Daum Communications 1.97 HISEM 1.28 Com2us 5.05 Humedix 2.63 GS Home Shopping 1.55 Interflex 1.08 INICIS 1.76 BCWORLDPHARM 2.29 KH Vatec 1.39 Partrion 0.98 Paradise 1.48 ViroMed 1.96 Mobilians 1.12 SM 0.68 Daum Communications 1.40 KT Music 1.37 NEOWIZ Games 0.84 Bioland 0.65 SM 1.26 ISPLUS 1.32 Tovis 0.78 WANLI 0.63 BLUECOM 1.07 GS Home Shopping 1.29 ATTO 0.64 SNET 0.62 Sammok Precision & Ind 1.04 RSUPPORT 1.13 GAMEHI 0.63 SundayToz 0.55 Bio Space 0.99 ACTOZ SOFT 1.06 Celltrion 0.61 RingNet 0.55 Tovis 0.98 KEBT 0.98 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 1,352,000 9,000 199,149 Daum Communications 122,000 -1,300 7,039 Hyundai Motor 174,500 -500 38,438 Celltrion 39,450 -250 4,086 Hynix 47,000 -800 34,216 Dongsuh 23,400 100 2,333 KEPCO 42,950 -700 27,572 Paradise 24,250 500 2,205 POSCO 287,000 500 25,023 CJ O Shopping 265,600 -2,400 1,649 NHN 736,000 -5,000 24,261 Medy-tox 286,200 -10,300 1,619 Samsung Electronics (P) 1,043,000 2,000 23,815 GS Home Shopping 220,800 -200 1,449 Samsung Life Insurance 118,500 1,500 23,700 EO Technics 112,000 4,100 1,374 Hyundai Mobis 239,500 1,000 23,314 CJ E&M 35,400 -1,650 1,371 SK Telecom 280,000 -500 22,609 SK Broadband 4,350 0 1,287 Source: