May 27, 2019 Korea Morning Focus

No English report summaries this morning.

Major Indices Close Chg Chg (%) KOSPI 2,045.31 -14.28 -0.69 KOSPI 200 264.42 -1.96 -0.74 KOSDAQ 690.03 -6.86 -0.98

Turnover ('000 shares, Wbn) Volume Value KOSPI 471,975 4,581 KOSPI 200 65,647 2,869 KOSDAQ 838,308 4,387

Market Cap (Wbn) Value KOSPI 1,356,100 KOSDAQ 237,064

KOSPI Turnover (Wbn) Buy Sell Net Foreign 1,287 1,597 -310 Institutional 1,231 924 307 Retail 2,040 2,041 -1

KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 418 460 -43 Institutional 247 269 -21 Retail 3,667 3,631 35

Program Buy / Sell (Wbn) Buy Sell Net KOSPI 1,006 1,166 -160 KOSDAQ 384 402 -18

Advances & Declines Advances Declines Unchanged KOSPI 257 579 60 KOSDAQ 328 902 53

KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Electronics 42,700 -1,150 572 KODEX Leverage 11,525 -160 276 KODEX 200 Futures 7,995 120 250 Inverse 2X Hynix 67,600 -400 223 KODEX KOSDAQ150 7,785 75 176 INVERSE

KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value LB Semicon 10,650 890 164 Incon 3,200 80 155 COMPANY K PARTNERS 11,450 800 133 Nexon GT 16,350 850 104 Telcon RF Pharm. 7,310 610 100 Note: As of May 24, 2019

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 May 27, 2019

※All data as of close May 23, 2019, 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 254,910 42,700 3.3 -54.2 38.9 -46.7 34.7 13.3 9.9 1.1 1.1 8.8 11.1 000660 SK Hynix 49,213 67,600 2.2 -78.7 60.6 -78.6 55.5 14.8 9.5 1.0 0.9 6.9 10.1 005380 Hyundai Motor 27,884 130,500 3.1 40.1 30.5 139.2 15.0 10.2 8.9 0.5 0.5 5.1 5.7 068270 23,228 181,000 - - - - 0.0 0.0 051910 LG Chem 22,978 325,500 1.8 -13.1 52.7 -15.4 63.6 20.5 12.5 1.4 1.3 7.1 10.9 055550 22,216 46,850 12.5 3.1 10.5 0.7 6.4 6.3 0.6 0.6 9.4 8.8 017670 SK Telecom 20,429 253,000 4.0 5.8 9.8 -34.9 53.0 10.0 6.6 0.8 0.7 8.8 12.5 012330 Hyundai Mobis 20,396 214,000 1.6 9.1 10.2 27.0 7.4 8.7 8.1 0.6 0.6 7.5 7.6 005490 POSCO 19,966 229,000 4.8 -16.7 1.8 69.3 2.3 7.0 6.8 0.4 0.4 6.5 6.3 051900 LG H&H 19,648 1,258,000 0.9 12.5 9.5 15.3 10.4 24.9 22.6 5.4 4.6 19.9 18.8 105560 KB Financial Group 19,317 46,200 9.7 3.8 10.8 4.0 5.7 5.5 0.5 0.5 9.3 9.0 035420 NAVER 18,706 113,500 0.3 -15.1 26.3 -31.4 68.6 42.0 24.9 2.7 2.4 8.2 12.5 028260 Samsung C&T 17,736 93,500 2.1 5.4 20.1 -4.2 20.7 14.0 11.6 0.6 0.6 5.2 5.9 034730 SK Holdings 16,746 238,000 2.0 13.3 12.9 -32.3 20.1 11.1 9.2 0.9 0.8 8.9 9.8 000270 Motors 16,660 41,100 1.9 20.5 19.7 54.5 16.7 9.3 8.0 0.6 0.5 6.3 7.0 015760 KEPCO 16,370 25,500 ------0.2 0.2 - - 032830 Samsung Life 16,320 81,600 - - - - 0.0 0.0 018260 Samsung SDS 15,708 203,000 1.4 11.6 16.5 12.7 15.4 22.1 19.2 2.4 2.2 11.3 12.0 096770 SK Innovation 15,257 165,000 4.8 -29.5 18.8 -40.7 27.9 15.8 12.3 0.8 0.8 5.3 6.7 006400 Samsung SDI 14,819 215,500 0.5 16.8 45.7 -1.0 42.4 21.9 15.3 1.2 1.1 5.6 7.5 033780 KT&G 13,935 101,500 4.1 12.8 5.6 17.5 5.1 13.1 12.5 1.6 1.5 12.7 12.6 000810 Samsung F&M 13,218 279,000 - - - - 0.0 0.0 066570 LG Electronics 12,486 76,300 1.0 7.1 20.0 23.7 39.9 9.0 6.4 0.9 0.8 10.3 12.9 003550 LG Corp. 12,200 70,700 3.3 17.2 15.4 5.5 15.6 6.3 5.5 0.6 0.6 10.5 11.1 086790 11,304 37,650 8.6 8.1 9.5 8.2 4.6 4.2 0.4 0.4 9.0 9.1 090430 AmorePacific 10,464 179,000 0.7 6.0 20.7 6.9 22.4 29.5 24.1 2.6 2.4 7.8 8.9 036570 NCsoft 10,421 475,000 1.3 32.4 26.4 49.5 17.4 16.7 14.2 3.2 2.7 23.9 23.1 035720 10,342 124,000 0.1 167.0 116.1 127.8 160.4 88.8 34.1 2.0 1.9 2.2 5.6 251270 9,699 113,500 44.5 59.7 57.2 39.0 32.4 23.3 2.0 1.8 6.6 8.5 010950 S-Oil 9,119 81,000 3.1 60.1 77.0 99.7 139.4 18.3 7.7 1.4 1.2 7.7 16.5 011170 Lotte Chemical 8,946 261,000 4.0 -34.3 31.9 -35.0 35.1 8.7 6.5 0.7 0.6 7.8 9.9 010130 Korea Zinc 8,274 438,500 2.5 8.9 6.0 19.1 2.4 13.2 12.9 1.2 1.2 9.7 9.3 091990 Celltrion Healthcare 8,111 56,400 - 192.4 1119.2 156.4 58.2 22.7 4.3 3.8 8.2 18.6 024110 7,992 13,900 7.5 4.5 5.4 3.6 4.9 4.8 0.4 0.4 8.6 8.3 009540 HHI 7,856 111,000 - 594.6 - - - 66.0 0.7 0.7 - 1.0 009150 Samsung Electro-Mechanics 7,163 95,900 1.1 -19.1 28.9 -17.5 31.2 13.8 10.5 1.4 1.2 10.7 12.6 030200 KT 7,154 27,400 4.0 2.0 3.0 28.2 5.6 8.1 7.7 0.5 0.5 6.5 6.6 032640 LG Uplus 6,156 14,100 4.6 -2.9 11.7 2.0 18.2 12.5 10.6 0.9 0.8 7.0 7.9 018880 Hanon Systems 6,059 11,350 - - - - 0.0 0.0 034220 LG Display 5,850 16,350 - - - - - 18.4 0.4 0.4 - 2.3 086280 5,756 153,500 2.1 8.8 2.2 20.2 8.7 11.0 10.1 1.2 1.1 11.8 11.7 000720 Hyundai E&C 5,501 49,400 1.0 24.6 6.1 20.7 0.6 12.0 11.9 0.8 0.8 7.2 6.8 004020 5,378 40,300 1.9 2.5 16.1 42.1 23.3 9.5 7.7 0.3 0.3 3.3 3.8 267250 5,016 308,000 6.0 78.7 2.1 154.0 4.5 7.4 7.0 0.6 0.6 8.6 8.5 Holdings 010140 SamsungHvyInd 4,788 7,600 - - - - - 61.9 0.6 0.6 - 1.2 128940 4,709 405,500 0.1 37.5 -0.2 141.7 -12.3 78.3 89.2 6.0 5.7 8.2 6.8 023530 Lotte Shopping 4,441 157,000 3.3 6.5 3.9 - 10.5 11.0 10.0 0.4 0.4 3.4 3.7 005830 DB Insurance 4,368 61,700 - - - - 0.0 0.0 029780 Samsung Card 4,264 36,800 -16.3 3.1 2.8 4.1 12.0 11.5 0.6 0.6 1.5 1.5 097950 CJ CheilJedang 4,208 279,500 1.3 15.4 12.7 -64.8 23.7 14.6 11.8 0.9 0.8 6.3 7.3 Source: Mirae Asset Daewoo Research

Mirae Asset Daewoo Research Market Data May 27, 2019

※All data as of close May 24, 2019, unless otherwise noted.

Other Major Indices Economic Indicators Close Net Chg 1D (%) YTD (%) Close 1D ago 1M ago 1Y ago MSCI Korea* 413.05 1.11 0.27 -3.70 USD/KRW 1,191.20 1,194.60 1,141.10 1,078.80 KOSPI 2,045.31 -14.28 -0.69 1.76 JPY100/KRW 1,087.41 1,083.29 1,020.07 980.59 KOSDAQ 690.03 -6.86 -0.98 3.09 EUR/KRW 1,332.12 1,332.76 1,280.60 1,262.95 Dow Jones* 25,490.47 -286.14 -1.11 9.27 3Y Treasury 1.64 1.65 1.75 2.19 S&P 500* 2,822.24 -34.03 -1.19 12.44 3Y Corporate 2.13 2.13 2.22 2.82 NASDAQ* 7,628.28 -122.56 -1.58 14.44 DDR2 1Gb* 1.05 1.05 1.06 1.35 Philadelphia Semicon* 1,322.84 -22.20 -1.65 13.52 NAND MLC 64G* 2.35 2.36 2.53 3.67 FTSE 100* 7,231.04 -103.15 -1.41 7.38 Oil (Dubai)* 69.22 71.23 73.77 76.65 Nikkei 225 21,117.22 -33.92 -0.16 7.95 Gold* 1,285.40 1,274.20 1,269.30 1,289.60 Hang Seng* 27,267.13 -438.81 -1.58 8.50 Customer deposits (Wbn)* 24,875 24,502 27,172 28,139 Taiwan (Weighted) 10,328.28 19.91 0.19 8.10 Equity type BC (Wbn)(May. 22) 80,912 80,904 84,042 80,461 Note: * as of May 23, 2019 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 LG Electronics 23.84 Samsung Electronics 172.28 Samsung Electronics 102.68 KODEX Leverage 33.75 Hyundai Motor 18.01 Hynix 41.67 Hynix 31.50 KODEX Kosdaq150 Leverage 16.13 Hana Financial Group 7.27 POSCO 13.20 KODEX 200 Futures Inverse 2X 24.52 Hyundai Motor 12.91 Kakao 7.01 Celltrion 12.08 Celltrion 16.23 SK Energy 6.64 6.17 LG Chem 10.69 Shinhan Financial Group 15.13 KODEX 200 5.65 LG Uplus 4.32 KEPCO 10.49 KODEX Inverse 13.59 LG Electronics 4.99 4.12 KB Financial Group 9.59 KB Financial Group 11.10 Amore Pacific 4.62 Daelim Industrial 3.74 Hyundai Mobis 8.87 Korean Air Lines 10.49 F&F 4.60 F&F 3.53 Shinhan Financial Group 8.45 Hyundai Mobis 9.44 NC Soft 3.66 International 3.23 Samsung F&M Insurance 6.87 LG Chem 8.61 3.38 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 LB Semicon 7.06 Celltrion Healthcare 20.68 Jokwang ILI 7.50 Wemade 9.77 Seojin System 2.95 HLB 8.98 Power Logics 2.76 Solid Technologies 8.37 CJ ENM 2.93 RFHIC 4.99 SFA Engineering 2.42 CJ ENM 7.40 PearlAbyss 2.73 MC Nex 3.78 HFR 2.25 SNK 5.56 Emerson Pacific 2.73 Komipharm 2.78 Oscotec 2.09 J contentree 3.33 OSSTEM IMPLANT 2.00 SFA Engineering 2.67 Ace Technology 2.07 Paradise 3.28 Nepes 1.82 RoboRobo 2.56 ViroMed 1.94 RFHIC 2.30 Dasan Networks 1.44 Medy-tox 2.11 LB Semicon 1.92 KMW 2.18 Winix 1.29 KMW 1.86 AMOGREENTECH 1.89 Sam Chun Dang Pharm. 2.13 Maeil Dairies 1.28 Dongjin Semichem 1.75 GTG Wellness 1.78 Winix 1.81 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 42,700 -1,150 254,910 Celltrion Healthcare 56,400 -100 8,111 Hynix 67,600 -400 49,213 CJ ENM 181,100 -5,200 3,971 Samsung Electronics (P) 34,250 -1,050 28,184 SillaJen 56,000 300 3,947 Hyundai Motor 130,500 3,000 27,884 ViroMed 211,500 8,000 3,375 Celltrion 181,000 500 23,228 Posco Chemtech 53,600 1,300 3,269 LG Chem 325,500 -1,500 22,978 HLB 70,700 -2,600 2,774 Shinhan Financial Group 46,850 550 22,216 Medy-tox 440,700 -8,600 2,563 SK Telecom 253,000 2,000 20,429 PearlAbyss 194,500 -200 2,532 Hyundai Mobis 214,000 2,000 20,396 71,100 -1,100 1,994 POSCO 229,000 -2,000 19,966 Celltrion 50,000 -100 1,704 Source: