December 28, 2015

KOREA

No English report summaries today. Major Indices Close Chg Chg (%) KOSPI 1,964.06 -26.59 -1.34 KOSPI 200 241.79 -3.54 -1.44 KOSDAQ 652.05 -4.48 -0.68

Turnover ('000 shares, Wbn) Volume Value KOSPI 389,692 3,754 KOSPI 200 65,327 2,574 KOSDAQ 584,614 2,869

Market Cap (Wbn) Value KOSPI 1,245,508 KOSDAQ 192,556

KOSPI Turnover (Wbn) Buy Sell Net Foreign 690 723 -32 Institutional 809 667 142 Retail 2,152 2,335 -183

KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 152 104 47 Institutional 124 95 29 Retail 2,592 2,673 -80

Program Buy / Sell (Wbn) Buy Sell Net KOSPI 732 636 97 KOSDAQ 85 43 42

Advances & Declines Advances Declines Unchanged KOSPI 278 549 52 KOSDAQ 406 648 83

KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Electronics 1,266,000 -19,000 289 KODEX LEVERAGE 9,790 -280 188 SAMSUNG C&T 138,500 -7,000 116 KODEX 200 24,250 -330 107 Hanmi Pharm 655,000 -11,000 106

KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value 76,700 -2,000 133 KORNIC GLORY 1,460 110 73 Openbase 2,860 -160 71 Komipharm 34,500 900 66 ViroMed 161,300 1,900 59 Note: As of December 28, 2015

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.

Key Universe Valuations December 28, 2015

※All data as of close December 24, 2015, unless otherwise noted.

16F Earnings growth Mkt Cap Price P/E (x) P/B (x) ROE (%) Ticker Company Div Yield OP EPS (Wbn) (W) (%) 16F 17F 16F 17F 16F 17F 16F 17F 16F 17F 005930 186,481 1,266,000 2.2 2.2 5.1 5.3 7.6 9.8 9.1 1.0 1.0 11.7 11.4 005380 Hyundai Motor 33,262 151,000 3.3 15.6 -1.2 12.6 1.1 5.7 5.7 0.6 0.6 11.4 10.5 015760 KEPCO 31,713 49,400 3.0 8.3 0.5 -46.9 -1.5 4.7 4.8 0.4 0.4 9.8 8.9 012330 24,287 249,500 1.4 15.0 7.2 22.5 5.8 6.5 6.1 0.8 0.7 13.4 12.6 090430 AmorePacific 23,968 410,000 0.3 33.4 31.0 25.2 31.7 36.5 27.7 6.9 5.6 20.6 22.3 000660 SK Hynix 22,495 30,900 1.3 -21.9 10.7 -22.9 11.3 6.7 6.0 0.9 0.8 14.1 13.8 051910 LG Chem 22,101 333,500 1.2 10.2 23.4 28.4 24.2 15.5 12.5 1.7 1.5 11.5 12.9 032830 Samsung Life 21,900 109,500 - - - - 0.0 0.0 000270 Motors 21,201 52,300 2.6 27.7 14.0 25.8 10.9 5.7 5.1 0.8 0.7 14.2 13.9 035420 NAVER 21,129 641,000 0.2 33.3 22.4 35.7 21.6 28.5 23.5 5.4 4.4 27.7 26.0 055550 19,110 40,300 - - - - 0.0 0.0 018260 Samsung SDS 18,958 245,000 0.2 12.2 1381.5 8.3 1338.7 39.5 2.7 3.8 1.6 10.1 82.3 017670 SK Telecom 18,572 230,000 4.3 4.8 1.4 0.4 1.8 11.2 11.0 1.0 0.9 10.1 9.7 034730 SK Holdings 17,907 254,500 0.8 9.0 13.4 4.3 -49.4 21.0 41.5 3.2 3.0 19.8 8.9 051900 LG Household & Health Care 16,102 1,031,000 0.5 21.6 16.8 22.7 18.6 30.9 26.1 7.0 5.6 25.7 24.4 005490 POSCO 15,345 176,000 3.4 0.7 26.7 516.9 72.9 13.9 8.0 0.4 0.3 2.7 4.5 033780 KT&G 15,102 110,000 3.3 -4.9 0.7 -9.4 2.0 15.8 15.5 2.1 2.0 14.7 13.9 000810 Samsung F&M 14,923 315,000 - - - - 0.0 0.0 105560 KB Financial Group 13,097 33,900 - - - - 0.0 0.0 003550 LG Corp. 12,407 71,900 1.4 8.3 0.0 5.2 2.1 11.4 11.1 0.9 0.8 8.2 7.8 096770 SK Innovation 12,159 131,500 2.4 4.2 9.9 18.9 13.9 11.0 9.7 0.7 0.7 6.8 7.3 010950 S-Oil 8,928 79,300 3.2 15.6 6.3 28.1 6.3 10.4 9.8 1.5 1.3 15.3 14.5 010130 Korea Zinc 8,822 467,500 1.4 22.0 16.2 23.5 17.4 13.2 11.3 1.5 1.4 12.4 13.0 034220 LG Display 8,802 24,600 2.0 -40.9 85.2 -43.9 110.7 14.2 6.8 0.7 0.6 4.9 9.7 066570 LG Electronics 8,542 52,200 1.5 58.8 19.7 146.9 21.0 9.8 8.1 0.7 0.7 7.6 8.6 035250 8,386 39,200 3.3 11.5 5.2 14.7 9.5 16.3 14.9 2.4 2.2 16.4 16.4 011170 Lotte Chemical 8,106 236,500 0.4 -1.5 13.7 21.2 17.6 6.5 5.5 0.9 0.8 15.2 15.4 047810 Korea Aerospace Industries 7,759 79,600 0.3 27.7 23.5 42.2 26.2 25.7 20.4 5.2 4.2 22.1 22.7 006400 Samsung SDI 7,633 111,000 0.9 468.2 5.0 385.4 -81.4 5.0 26.9 0.6 0.6 12.3 2.2 023530 Lotte Shopping 7,542 239,500 0.8 12.1 12.9 57.4 14.1 15.4 13.5 0.4 0.4 2.8 3.2 030200 KT 7,481 28,650 2.8 1.1 0.3 -13.4 4.2 10.0 9.6 0.6 0.6 6.5 6.4 024110 7,400 13,300 - - - - 0.0 0.0 086280 7,219 192,500 1.0 9.5 8.4 57.8 2.4 12.4 12.1 2.0 1.8 17.6 15.6 086790 7,193 24,300 - - - - 0.0 0.0 001800 Orion 7,028 1,176,000 0.6 14.8 8.2 23.0 13.5 33.5 29.5 4.4 3.9 14.1 14.2 004020 6,993 52,400 1.4 6.8 9.9 7.6 31.6 8.0 6.1 0.4 0.4 5.6 6.9 009540 6,901 90,800 - 123.3 - 724.4 127.0 15.4 0.4 0.4 0.4 3.1 088350 Hanwha Life 6,775 7,800 - - - - 0.0 0.0 128940 6,701 655,000 158.4 12.8 816.5 7.9 89.9 83.3 11.0 9.7 13.0 12.4 021240 Coway 6,671 86,500 4.2 11.8 21.2 9.6 21.3 18.2 15.0 4.4 4.0 28.1 30.2 035720 6,647 110,600 0.2 92.2 38.3 76.3 40.8 42.2 30.0 2.5 2.3 6.0 7.9 161390 5,841 47,150 1.0 7.1 14.0 7.7 14.9 8.2 7.1 1.0 0.9 12.8 13.0 139480 Emart 5,464 196,000 0.8 21.2 13.5 -24.0 12.3 12.5 11.1 0.7 0.7 6.0 6.3 009240 Hanssem 5,248 223,000 0.4 44.2 27.9 41.7 32.7 31.9 24.1 8.2 6.2 32.1 31.7 005830 Dongbu Insurance 4,991 70,500 - - - - 0.0 0.0 097950 CJ CheilJedang 4,928 374,500 0.6 8.6 9.5 28.5 33.2 18.5 13.9 1.5 1.4 8.9 10.8 078930 GS Holdings 4,767 51,300 2.6 -9.7 26.9 25.9 40.2 8.7 6.2 0.5 0.5 5.8 7.7 009150 Samsung Electro-Mechanics 4,706 63,000 1.0 25.4 29.0 240.2 32.7 18.0 13.6 1.0 1.0 6.0 7.5 032640 LG Uplus 4,650 10,650 2.7 2.0 1.8 5.4 4.8 10.8 10.3 1.0 0.9 9.2 9.0 036570 NCSOFT 4,572 208,500 1.8 29.6 21.8 34.4 24.9 17.6 14.1 2.6 2.3 16.5 18.1 Source: KDB Daewoo Securities Research

Market Data December 28, 2015

※All data as of close December 28, 2015, unless otherwise noted.

Other Major Indices Economic Indicators Close Net Chg 1D (%) YTD (%) Close 1D ago 1M ago 1Y ago MSCI Korea* 364.65 0.00 0.00 -5.70 USD/KRW 1,171.00 1,171.70 1,145.70 1,104.30 KOSPI 1,964.06 -26.59 -1.34 1.95 JPY100/KRW 974.05 968.95 934.39 918.18 KOSDAQ 652.05 -4.48 -0.68 17.76 EUR/KRW 1,283.65 1,278.15 1,215.19 1,348.85 Dow Jones* 17552.17 -50.44 -0.29 -1.57 3Y Treasury 1.68 1.66 1.80 2.16 S&P 500* 2060.99 -3.30 -0.16 0.14 3Y Corporate 2.12 2.11 2.18 2.48 NASDAQ* 5048.49 2.56 0.05 6.81 DDR2 1Gb* 1.07 1.07 1.11 1.35 Philadelphia Semicon* 674.39 2.61 0.39 -1.80 NAND 16Gb* 1.46 1.46 1.48 2.18 FTSE 100* 6254.64 13.66 0.22 -4.48 Oil (Dubai)* 32.83 32.83 41.40 57.22 Nikkei 225 18,878.43 109.37 0.58 8.44 Gold* 1077.2 1,077.20 1,070.00 1,173.50 Hang Seng* 22138.13 97.54 0.44 -7.21 Customer deposits (Wbn)* 20,577 20,577 21,854 15,594 Taiwan (Weighted) 8,358.49 -4.79 -0.06 -9.87 Equity type BC (Wbn)(Dec. 23) 81,295 81,295 80,448 79,493 Note: * as of December 24, 2015 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 KEPCO 12.37 KODEX 200 28.76 KODEX 200 23.99 KODEX LEVERAGE 30.26 Samsung SDI 9.00 15.49 SAMSUNG C&T 21.69 Samsung Electronics (P) 11.70 Hanwha Chemical 8.10 SK Telecom 13.59 KODEX INVERSE 20.17 KODEX KOSDAQ150 LEVERAGE 8.42 Hynix 6.34 KOREA AEROSPACE 11.47 Samsung Electronics 14.12 6.62 Hyundai Motor 6.27 SAMSUNG C&T 7.98 Woori Investment Securities 11.91 Samsung SDI 6.07 BGF Retail 5.40 Samsung Electronics 7.87 9.73 Daewoo Securities 5.55 LG Chem 3.90 7.44 Kia Motors 9.16 KT 4.95 3.89 Samsung Electronics (P) 6.73 CJ Cheiljedang 8.42 NCsoft 4.48 LG Household & Health Care 3.84 Kia Motors 6.58 Hyundai Mobis 7.67 BNK Financial Group 4.30 LG Display 3.68 Honam Petrochemical 5.59 Samsung F&M Insurance 6.25 S1 Corp. 3.09 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 Medy-tox 9.55 ATTO 1.95 Celltrion 4.26 CJ E&M 5.95 Daum Communications 8.46 GOLFZONYUWONHOLDINGS 1.57 ViroMed 3.37 Caregen 3.00 CJ E&M 2.84 Semiconductor 1.32 Com2us 3.28 SM 2.31 ViroMed 2.42 Com2us 0.89 Daum Communications 2.27 KORYOINFO 1.80 Vieworks 1.87 Hugel 0.82 Vieworks 1.88 LEED 1.76 SM 1.48 China King 0.73 HLB 1.81 JCE 1.46 Komipharm 1.42 DIO 0.73 EO Technics 1.76 YONWOO 1.33 Celltrion 1.39 Paradise 0.67 Kolon Life Science 1.69 Paradise 1.15 Bio Space 1.35 Ubiquoss 0.61 Viatron 1.67 ESV 1.15 Boryung Medience 1.19 Silicon Works 0.55 Tovis 1.46 Maeil Dairy Industry 1.13 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 1,266,000 -19,000 186,481 Celltrion 76,700 -2,000 8,624 Hyundai Motor 151,000 -500 33,262 Daum Communications 110,600 0 6,647 KEPCO 49,400 -900 31,713 Dongsuh 31,400 -50 3,131 SAMSUNG C&T 138,500 -7,000 26,272 CJ E&M 75,600 -3,100 2,928 Samsung Electronics (P) 1,075,000 -20,000 24,546 Medy-tox 476,000 -8,600 2,693 Hyundai Mobis 249,500 -3,000 24,287 ViroMed 161,300 1,900 2,290 Amore Pacific 410,000 -2,000 23,968 LOEN 81,400 700 2,059 Hynix 30,900 -800 22,495 Komipharm 34,500 900 1,874 LG Chem 333,500 -4,500 22,101 Paradise 17,750 -200 1,614 Samsung Life Insurance 109,500 -500 21,900 EO Technics 117,500 2,800 1,442 Source: