January 28, 2020 Korea Morning Focus

No English report summaries this morning Major Indices Close Chg Chg (%) KOSPI 2,246.13 -21.12 -0.93 KOSPI 200 302.33 -3.75 -1.23 KOSDAQ 685.57 -2.68 -0.39

Turnover ('000 shares, Wbn) Volume Value KOSPI 502,809 6,790 KOSPI 200 85,769 4,585 KOSDAQ 945,900 5,009

Market Cap (Wbn) Value KOSPI 1,512,629 KOSDAQ 247,898

KOSPI Turnover (Wbn) Buy Sell Net Foreign 1,594 1,727 -133 Institutional 1,425 1,904 -480 3,707 3,126 581

KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 470 526 -55 Institutional 178 291 -113 Retail 4,333 4,155 178

Program Buy / Sell (Wbn) Buy Sell Net KOSPI 1,384 1,474 -90 KOSDAQ 422 516 -94

Advances & Declines Advances Declines Unchanged KOSPI 258 567 83 KOSDAQ 474 744 122

KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Electronics 60,800 -1,500 910 Monalisa 6,230 250 316 Hyundai Motor 130,500 3,500 293 Hynix 98,700 -2,300 262 KODEX Leverage 15,190 -380 220

KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value KM 11,650 1,730 252 SK Bioland 24,150 600 113 Nano Chem Tech 3,215 420 112 OKONG Corp. 5,520 -330 112 KMP 4,235 60 101 Note: As of January 23, 2020

This document is a summary of a report prepared by Mirae Asset 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 January 28, 2020

※All data as of close January 22, 2020, 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 362,963 60,800 2.3 -53.2 41.0 -46.6 37.2 18.9 13.8 1.6 1.5 8.7 11.1 000660 SK Hynix 71,854 98,700 1.5 -64.8 -3.0 -61.6 -3.2 12.0 12.4 1.3 1.2 12.1 10.6 035420 NAVER 30,161 183,000 0.2 -17.8 77.0 -47.3 132.4 88.3 38.0 4.4 4.0 6.3 13.4 005380 Hyundai Motor 27,884 130,500 3.1 52.1 39.6 103.3 59.0 12.0 7.5 0.5 0.5 4.3 6.6 051910 LG Chem 24,601 348,500 1.1 -55.7 70.9 -72.5 164.0 67.3 25.5 1.6 1.5 2.4 6.1 012330 23,970 251,500 2.0 17.9 16.4 24.3 17.1 10.4 8.9 0.7 0.7 7.3 7.9 068270 Celltrion 22,523 175,500 - - - - 0.0 0.0 028260 Samsung C&T 22,194 117,000 1.7 -21.5 23.4 -38.7 11.0 21.3 19.2 0.9 0.9 4.9 5.1 051900 LG H&H 21,069 1,349,000 0.8 11.7 13.9 15.2 15.2 26.8 23.3 5.8 4.9 20.1 19.6 005490 POSCO 20,968 240,500 4.2 -27.4 6.4 31.6 22.7 9.4 7.7 0.5 0.4 5.1 6.0 055550 19,537 41,200 12.2 4.1 9.9 0.0 5.6 5.6 0.5 0.5 9.1 8.4 006400 Samsung SDI 19,495 283,500 0.4 -33.6 89.7 -37.7 75.8 45.6 26.0 1.5 1.5 3.6 5.9 105560 KB Financial Group 19,418 46,700 6.3 4.4 9.2 3.4 5.8 5.6 0.5 0.5 9.0 8.5 017670 SK Telecom 19,137 237,000 4.2 7.3 -3.5 -60.6 68.2 15.5 9.2 0.8 0.7 5.4 8.8 000270 Motors 17,593 43,400 2.1 73.6 26.7 58.0 32.0 9.6 7.3 0.6 0.6 6.5 8.0 034730 SK Holdings 16,957 241,000 2.1 -2.8 21.5 -36.6 11.0 12.0 10.8 0.9 0.8 8.2 8.3 015760 KEPCO 16,948 26,400 - - - - - 138.3 0.2 0.2 - 0.2 018260 Samsung SDS 15,862 205,000 1.2 10.4 12.3 10.3 11.8 22.9 20.4 2.4 2.2 11.1 11.3 032830 Samsung Life 14,660 73,300 - - - - 0.0 0.0 035720 14,270 165,500 0.1 179.1 115.5 220.9 96.5 84.1 42.8 2.7 2.5 3.2 6.1 036570 NCsoft 14,182 646,000 0.9 -14.6 117.7 10.5 99.6 30.7 15.4 4.5 3.6 18.2 29.7 003550 LG Corp. 12,683 73,500 3.4 -28.0 45.0 -18.4 16.8 8.5 7.3 0.7 0.6 8.1 8.9 090430 AmorePacific 12,422 212,500 0.6 -8.4 18.7 -0.9 19.1 37.7 31.7 3.1 2.9 7.2 8.1 096770 SK Innovation 12,021 130,000 4.9 -42.8 18.2 -68.7 92.4 23.6 12.3 0.6 0.6 2.8 5.4 066570 LG Electronics 11,292 69,000 1.1 -6.4 13.9 -42.2 106.7 17.4 8.4 0.8 0.8 4.9 9.4 000810 Samsung F&M 10,659 225,000 - - - - 0.0 0.0 086790 10,538 35,100 -0.8 7.4 8.7 0.6 4.3 4.3 0.4 0.3 8.8 8.3 009150 Samsung Electro-Mechanics 10,046 134,500 0.8 -30.5 18.6 -39.3 60.9 26.2 16.3 1.8 1.6 7.6 10.7 010950 S-Oil 9,108 80,900 0.4 -13.3 197.8 -54.2 948.9 79.9 7.6 1.4 1.2 1.8 17.3 009540 KSOE 8,847 125,000 - 88.1 - -39.1 36.0 59.2 0.8 0.8 2.1 1.3 251270 8,266 96,400 1.8 57.7 14.5 36.9 37.8 27.6 1.7 1.6 4.9 6.3 091990 Celltrion Healthcare 7,945 55,200 - 144.5 435.7 165.0 129.6 48.9 4.4 4.2 3.7 9.3 010130 Korea Zinc 7,680 407,000 2.7 9.2 6.9 23.3 3.5 11.8 11.4 1.1 1.1 10.0 9.6 011170 Lotte Chemical 7,164 209,000 5.0 -46.0 12.7 -54.7 32.3 10.0 7.6 0.5 0.5 5.5 6.9 030200 KT 6,815 26,100 4.2 -2.4 -1.1 -7.8 21.0 10.7 8.9 0.5 0.5 4.7 5.5 024110 6,406 11,100 -3.5 -2.7 -4.5 -5.3 4.4 4.6 0.3 0.3 7.7 6.9 032640 LG Uplus 5,982 13,700 4.7 -11.8 10.9 -16.7 15.0 14.9 13.0 0.8 0.8 5.8 6.4 018880 Hanon Systems 5,952 11,150 - - - - 0.0 0.0 086280 5,850 156,000 2.2 23.4 -0.1 14.9 15.2 11.6 10.1 1.2 1.1 11.1 11.6 034220 LG Display 5,314 14,850 ------0.4 0.4 - - 267250 4,935 303,000 6.1 -1.6 92.1 74.3 199.2 10.5 3.5 0.6 0.5 6.0 16.5 Holdings 000720 Hyundai E&C 4,527 40,650 1.2 12.4 10.9 42.6 -6.7 8.3 8.9 0.7 0.6 8.3 7.3 010140 4,511 7,160 - - - - - 45.7 0.7 0.7 - 1.7 029780 Samsung Card 4,443 38,350 14.1 -10.7 1.0 8.2 12.7 11.8 0.6 0.6 1.5 1.6 071050 Korea Investment Holdings 4,135 74,200 - - - - 0.0 0.0 004990 4,081 38,900 2.1 91.0 11.9 198.2 20.3 7.5 6.2 0.4 0.4 7.5 8.3 004020 3,943 29,550 2.5 -53.6 23.0 -97.9 2611.5 472.2 17.4 0.2 0.2 0.0 1.3 008770 Shilla 3,807 97,000 0.4 22.5 20.6 33.9 28.6 26.3 20.4 3.9 3.3 17.7 19.2 003670 POSCO Chemical 3,702 60,700 0.7 -13.7 61.4 -21.1 10.1 34.4 31.2 3.7 3.4 12.2 11.3 023530 Lotte Shopping 3,678 130,000 4.0 -2.6 14.7 - 16.9 15.7 13.4 0.3 0.3 2.0 2.3 Source: Mirae Asset Daewoo Research

Mirae Asset Daewoo Research Market Data January 28, 2020

※All data as of close January 23, 2020, unless otherwise noted.

Other Major Indices Economic Indicators Close Net Chg 1D (%) YTD (%) Close 1D ago 1M ago 1Y ago MSCI Korea* 493.61 7.40 1.52 4.25 USD/KRW 1,165.10 1,164.70 1,162.60 1,130.20 KOSPI 2,246.13 -21.12 -0.93 3.26 JPY100/KRW 1,060.87 1,059.97 1,061.98 1,033.66 KOSDAQ 685.57 -2.68 -0.39 1.71 EUR/KRW 1,292.74 1,291.01 1,288.04 1,284.30 Dow Jones* 29,186.27 -9.77 -0.03 2.27 3Y Treasury 1.42 1.44 1.38 1.80 S&P 500* 3,321.75 0.96 0.03 1.96 3Y Corporate 2.01 2.02 1.95 2.26 NASDAQ* 9,383.77 12.96 0.14 3.21 DDR4 8Gb* 3.38 3.37 3.03 5.95 Philadelphia Semicon* 1,930.23 15.23 0.80 2.24 NAND MLC 64G* 2.49 2.49 2.34 2.60 FTSE 100* 7,571.92 -38.78 -0.51 -0.43 Oil (Dubai)* 64.26 64.27 66.87 61.43 Nikkei 225 23,795.44 -235.91 -0.98 2.55 Gold* 1,556.70 1,557.90 1,474.70 1,283.40 Hang Seng* 28,341.04 355.71 1.27 -0.71 Customer deposits (Wbn)* 27,762 27,679 26,019 23,883 Taiwan (Weighted) 12,118.71 0.15 Equity type BC (Wbn)(Jan. 21) 88,208 88,720 85,893 87,001 Note: * as of January 22, 2020 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 KODEX 200 TR 103.79 Samsung Electronics 136.02 Hyundai Motor 28.39 Samsung Electronics 116.50 57.85 Hynix 59.69 Samsung C&T 23.58 KODEX 200 TR 104.11 Hyundai Motor 20.22 Amore Pacific 18.69 Hyundai Mobis 13.28 Hynix 45.32 POSCO 15.20 Samsung SDI 11.94 KODEX 200 Futures Inverse 2X 11.16 Amore Pacific 16.37 Mando 10.35 Samsung Electronics (P) 11.76 LG Innotek 8.02 SEMCO 16.30 NC Soft 10.14 LG Electronics 11.27 KODEX Inverse 7.67 POSCO 16.23 SK Telecom 9.55 SK Energy 10.85 Hyundai Glovis 6.35 KODEX Leverage 14.96 KT&G 7.90 9.95 Mando 6.05 Samsung Electronics (P) 14.19 KB Financial Group 5.50 Dongbu Hannong Chemical 9.90 Posco Chemtech 5.81 SK Energy 14.08 Hana Financial Group 5.46 Hyundai Mobis 6.46 Lotte Confectionary 4.74 Hotel Shilla 13.55 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 PearlAbyss 4.88 KH Vatec 4.49 Chunbo 5.66 KH Vatec 7.85 OE Solutions 3.46 HLB 4.05 ITM Semiconductor 4.65 SK Materials 5.73 BH,LTD. 3.37 SK Bioland 3.67 BH,LTD. 3.77 Paradise 5.56 D&C MEDIA 3.19 AfteecaTV 3.61 2.43 CJ ENM 4.85 SKC Kolon PI 2.99 Nepes 3.54 PearlAbyss 2.39 Soulbrain 4.84 MC Nex 2.85 ViroMed 3.46 Techwing 2.20 Tes 4.79 Ray 2.25 S&STECH 3.25 Wemade 2.13 HLB 4.13 Leeno 2.02 Chemtronics 3.12 UniTest 1.40 Dongjin Semichem 3.12 Kornic Systems 2.01 Komipharm 2.61 YMC 1.27 Medy-tox 3.03 Dongwoon Anatech 1.83 Mezzion Pharma 2.50 Celltrion Healthcare 1.15 Jenexine 2.93 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 60,800 -1,500 362,963 Celltrion Healthcare 55,200 0 7,945 Hynix 98,700 -2,300 71,854 HLB 102,600 -2,200 4,385 Samsung Electronics (P) 50,300 -800 41,391 CJ ENM 151,000 -2,800 3,311 Samsung Biologics 483,000 31,000 31,958 PearlAbyss 193,300 10,000 2,517 NAVER 183,000 -3,000 30,161 Studio Dragon 86,500 100 2,430 Hyundai Motor 130,500 3,500 27,884 KMW 60,100 -400 2,393 LG Chem 348,500 -3,000 24,601 Hugel 451,000 -4,000 1,948 Hyundai Mobis 251,500 6,000 23,970 Medy-tox 331,800 -15,000 1,929 Celltrion 175,500 -1,000 22,523 Wonik IPS 37,300 -850 1,831 Samsung C&T 117,000 5,000 22,194 Paradise 20,000 -350 1,819 Source: