Updated August 23, 2026 · through Special Situations Digest #29 (Aug 23, 2026) · 31 this week
A running index of Korean special situations covered in the Special Situations Digest. Below: the 100 most recent situations spanning 11 categories — activist campaigns, going-private deals, tender offers, divestitures, restructurings, and more. Earlier coverage includes 347+ additional Korean situations from prior issues. Each item links to the underlying filing or news source.
The full weekly digest covers 500 to 700 situations across 25+ markets every Sunday (608 in Digest #29), with Excel/PDF/JSON exports, Copy-for-LLM and a searchable database of 9,500+ situations. Subscribe for full access.
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Acquisitions 34 situations
KX Innovation Co., Ltd. 122450.KQ (KR) · ₩2,765.00 · MCAP $88M · EV $216M
KX Innovation Co., Ltd. (122450.KQ) is absorbing its wholly-owned subsidiary M&C Net Media Co., Ltd.; KX Innovation is the surviving entity.
Featured in Issue #29 · Aug 23, 2026
Air Busan Co., Ltd. 298690.KS (KR) · ₩1,462.00 · MCAP $171M
Jin Air Co., Ltd. will absorb Air Busan Co., Ltd. and Air Seoul Co., Ltd., with Jin Air as the surviving company.
Featured in Issue #29 · Aug 23, 2026
Aha Co., Ltd. 102950 (KR) · ₩1,655 · MCAP $15.7M
Aha Co., Ltd. (102950) is absorbing Aju Tech Co., Ltd. to enhance management efficiency.
Featured in Issue #29 · Aug 23, 2026
Kakao Corp. 035720.KS (KR) · ₩35,800.00 · MCAP $11.4B · EV $9.2B
Kakao Corp.'s (035720.KS) board resolved a company split on August 21, 2026, with a planned effective date of January 1, 2027.
Featured in Issue #29 · Aug 23, 2026
JIN AIR Co., Ltd. 272450.KS (KR) · ₩5,140.00 · MCAP $193M
Jin Air Co., Ltd. (272450.KS) will absorb Air Busan Co., Ltd. and Air Seoul Co., Ltd. to integrate management resources and enhance business competitiveness.
Featured in Issue #29 · Aug 23, 2026
Nexturn & Roll Korea Co., Ltd. 089140.KQ (KR) · ₩2,130.00 · MCAP $24M · EV $128M
The board resolved on August 20, 2026, to acquire 10,566,637 shares of Lumen Co., Ltd. at KRW 2,650 per share.
Featured in Issue #29 · Aug 23, 2026
SJG Sejong Co., Ltd. 033530.KS (KR) · ₩6,700.00 · MCAP $131M · EV $201M
SJG Sejong (033530.KS) will absorb its 100%-owned subsidiary SJG Central R&D Center Co., Ltd. in a non-capital increase merger.
Featured in Issue #29 · Aug 23, 2026
SSR Inc. 275630.KQ (KR) · ₩4,150.00 · MCAP $15M
SSR Inc. will acquire the VADA Solution Business Division of JiranJigyo S&C Co., Ltd. for KRW 7,000,000,000 (~$5.1M) in cash.
Featured in Issue #29 · Aug 23, 2026
MDS Sphere Co., Ltd. 009810.KS (KR) · ₩1,707.00 · MCAP $19M · EV $90M
MDS Sphere Co., Ltd. (009810.KS) is acquiring the engineering business division of MDS Intelligence for KRW 8,331,000,000 (~$6M).
Featured in Issue #29 · Aug 23, 2026
Hankuk Carbon Co., Ltd. 017960.KS (KR) · ₩22,550.00 · MCAP $842M · EV $724M
Hankuk Carbon (017960.KS) has decided to undergo a company merger.
Featured in Issue #29 · Aug 23, 2026
Tongyang Life Insurance Co., Ltd. 082640.KS (KR) · ₩8,250 · MCAP $932M
Woori Financial Group Inc. reported holding 156,062,581 shares of Dongyang Life Insurance Co., Ltd., representing 100.00% of voting shares, as of August 11, 2026.
Featured in Issue #29 · Aug 23, 2026
iCure Co., Ltd. 175250.KQ (KR) · ₩2,170 · MCAP $59M
iCure's board resolved a third-party allotment capital increase of 24,177,949 common shares at KRW 1,034 per share.
Featured in Issue #29 · Aug 23, 2026
Hankuk Carbon Co., Ltd. 017960.KS (KR) · MCAP $650K
H Carbon Co., Ltd. will absorb its wholly-owned subsidiary HC Networks Co., Ltd. via a small-scale merger.
Featured in Issue #28 · Aug 16, 2026
Hankuk Carbon Co., Ltd. 017960.KS (KR) · MCAP $650K
Hankuk Carbon Co., Ltd. will absorb its wholly owned subsidiary Korea Aerospace Technology KAT Co., Ltd. via a small-scale merger.
Featured in Issue #28 · Aug 16, 2026
Cape 064820.KQ (KR) · KRW 8,620 · MCAP $168M · EV $285M
Cape filed a Major Matters Report (Company Merger Decision) on 2026-07-15.
Featured in Issue #28 · Aug 16, 2026
Nexa Dynamics Co., Ltd. 351320.KQ (KR) · MCAP $17K
Nexa Dynamics Co., Ltd. (351320.KQ) revised its acquisition of The Star Partners Co., Ltd. to a 42.5% minority stake, reducing the purchase price by more than half.
Featured in Issue #28 · Aug 16, 2026
Elivision Co., Ltd. 276240 (KR)
Elivision (276240) will absorb Roboworks in a stock exchange.
Featured in Issue #28 · Aug 16, 2026
Asiana Airlines 020560.KS (KR) · MCAP $741K
Asiana Airlines, Inc. (020560.KS) is being absorbed by Korean Air following shareholder approval of the merger agreement.
Featured in Issue #28 · Aug 16, 2026
HUMAX Co., Ltd. 115160.KQ (KR) · KRW 5,530 · MCAP $17M · EV $81M
Humax Co., Ltd. (115160.KQ) is absorbing HUMAX Holdings Co., Ltd. in a stock-for-stock merger that revises the surviving company's post-merger share count to 5,113,573 shares.
Featured in Issue #28 · Aug 16, 2026
Atlas Link Inc. 297570.KQ (KR) · KRW 925.00 · MCAP $23M · EV $24M
Atlas Link Inc. (297570.KQ) is acquiring a 95.21% stake in its subsidiary Hankook File Co., Ltd. to strengthen control and management efficiency.
Featured in Issue #28 · Aug 16, 2026
Graphy Inc. 318060.KQ (KR) · KRW 20,400 · MCAP $161M · EV $164M
Graphy Inc. is acquiring a 26.14% stake in Ray Inc. (318060.KQ) for KRW 49,151,093,976 (~$35M) to secure management control.
Featured in Issue #28 · Aug 16, 2026
HLB Global 003580.KS (KR) · MCAP $42K
HLB GLOBAL Co., Ltd. (003580.KS) has entered a board-approved merger process.
Featured in Issue #28 · Aug 16, 2026
Kumho Petrochemical Co., Ltd. 011780.KS (KR) · MCAP $2M
Kumho Petrochemical will absorb its 100%-owned subsidiary K&H Special Gas Co., Ltd. via a small-scale merger under Article 527-3 of the Korean Commercial Act.
Featured in Issue #28 · Aug 16, 2026
Samsung SDI 006400.KS (KR) · MCAP $28.4B
Samsung SDI (006400.KS) is acquiring General Motors' 49.99% stake in their Indiana battery joint venture to consolidate full ownership.
Featured in Issue #28 · Aug 16, 2026
HLB Global Co., Ltd. 003580.KS (KR) · ₩1,467.00 · MCAP $52M · EV $62M
LTM EV/Sales: 0.9x · LTM EV/GP: 1.6x
HLB GLOBAL Co., Ltd. focuses on the extraction and supply of marine sand and minerals. The company collects, transforms, and supplies aggregates for ready-mixed concrete companies.
HLB Global Co., Ltd. (003580.KS) will absorb its 100%-owned subsidiary PURPLISH Co., Ltd. via a no-new-share merger. The merger is structured as a small-scale merger under Article 527-3 of the Korean Commercial Act, requiring no shareholder meeting unless 20%+ shareholders object in writing. No appraisal rights are granted to HLB Global shareholders; the merger ratio is 1.0000000: 0.0000000 with no new shares issued.
Featured in Issue #27 · Aug 9, 2026
Finger Co., Ltd. 163730.KQ (KR) · ₩9,270.00 · MCAP $78M · EV $65M
Fwd P/E: 12.7x · Fwd EV/EBITDA: 7.4x · Fwd EV/Sales: 0.9x · LTM EV/Sales: 1.0x · LTM EV/GP: 9.3x
Finger Co., Ltd. is a South Korean fintech platform company.
Finger Co., Ltd. (163730.KQ) resolved to acquire 487,505 shares of Mikelorobotics Co., Ltd. for KRW 15,972,863,092 (~$11M). Sellers include founder Park Jang-jun and several Korean venture capital and private investment associations.
Featured in Issue #27 · Aug 9, 2026
Humax Co., Ltd. 115160.KQ (KR) · ₩5,420.00 · MCAP $17M · EV $81M
Fwd EV/EBITDA: 2.1x · Fwd EV/Sales: 0.1x · LTM EV/Sales: 0.3x · LTM EV/GP: 2.0x
Humax Co., Ltd. engages in the gateway, automotive electronics, and digital solution businesses in South Korea and internationally. The company offers set-top box, broadband gateway, and video gateway products; integrated shark antennas for vehicles.
Humax Co., Ltd. (surviving) to absorb Humax Holdings Co., Ltd. (extinguished) via merger. Merger ratio: 1 Humax share for 0.9646707 Humax Holdings shares, based on reference prices of KRW 5,659 and KRW 5,459. Shareholder meeting to approve the merger is scheduled for August 28, 2026. Appraisal rights exercise period runs August 28 to September 17, 2026, with suggested purchase prices of KRW 6,591 (Humax) and KRW 6,839 (Humax Holdings).
Featured in Issue #27 · Aug 9, 2026
APS Innovation Co., Ltd. 079810.KQ (KR) · ₩3,360.00 · MCAP $51M
Fwd P/E: 7.3x
APS Innovation Co., Ltd. develops, produces, and sells back-end process equipment of the semiconductor and flat panel display industries worldwide.
APS Innovation to acquire 100% of Irae Co., Ltd. for KRW 23.5 billion (~$17M) in cash. Transaction is a package deal including 100% of Gloco Co., Ltd. and the entire business of Ire Engineering. Closing is contingent on the merger of Irae (surviving) and Gloco (dissolving); post-merger, APS acquires 100% of the surviving Irae.
Featured in Issue #27 · Aug 9, 2026
RYUK-IL C&S.,Ltd. 191410.KQ (KR) · ₩1,523.00 · MCAP $12M · EV $23M
Fwd P/E: 1.2x · Fwd EV/EBITDA: 7.6x · Fwd EV/Sales: 0.2x · LTM EV/Sales: 0.9x · LTM EV/GP: 3.6x
RYUK-IL C&S.,Ltd. engages in the manufacturing and sale of toughened glass for displays in South Korea. The company provides 2D cover glass products for mobile phones, tablet PCs, laptops, and wearable IT devices.
Amended August 5, 2026 terms: 6,500,320,000 KRW for same 1,976,000 shares at 3,290 KRW/share, all-cash, following settlement of civil lawsuit over acquired company's inventory shortfall. Seller Lee Don-won held 75.24% (1,600,000 shares); seller Lee Jeong-gyun held 17.68% (376,000 shares); both are special related parties. Post-closing dispute: Yukil CNS sued for purchase price return due to inventory asset shortage; resolved via mutual agreement transferring all convertible bond rights (principal and interest) to Yukil CNS.
Featured in Issue #27 · Aug 9, 2026
Metalabs Co., Ltd. 090370.KS (KR) · ₩1,089.00 · MCAP $21M
Metalabs Co., Ltd. primarily provides clothing, miscellaneous goods, and accessories in South Korea. The company sell goods, such as cosmetics; operates hospital management support, block chain and virtual currency development services, etc.; and social dating services.
Meta Labs (090370.KS) is pursuing a board-approved consolidation following a merger decision disclosed in a major-item report filed on 2026-08-03. The company filed an amended merger contract plan on 2026-08-04. Supporting documentation includes board minutes, board opinion, and confirmation from the CEO and directors. This Korean DART major-item report signals a board-approved consolidation event with an amended contract plan suggesting terms are being finalized.
Featured in Issue #27 · Aug 9, 2026
Huons Co., Ltd. 243070.KQ (KR) · ₩26,600.00 · MCAP $220M · EV $321M
Fwd P/E: 5.7x · Fwd EV/EBITDA: 5.1x · Fwd EV/Sales: 0.7x · LTM EV/Sales: 0.7x · LTM EV/GP: 1.6x
Huons Co., Ltd. provides medical solutions for human health in Korea and internationally.
Huons Co., Ltd. (243070.KQ) has removed all scheduled dates for its absorption merger of unlisted affiliate HuonsLab Co., Ltd. to comply with dual-listing guideline procedures. The transaction remains a stock-for-stock merger with a ratio of 1 Huons share for 0.4256943 HuonsLab shares, based on valuations of KRW 34,062 (~$24) and KRW 14,500 (~$10) per share respectively. The removal of the August 21 shareholder meeting and September 11 buyback deadline resets the event clock and leaves no actionable dates for arb positioning until a new timetable is filed.
Featured in Issue #27 · Aug 9, 2026
RFTech Co., Ltd. 061040.KQ (KR) · ₩6,380.00 · MCAP $40M · EV $77M
Fwd P/E: 7.0x · Fwd EV/EBITDA: 2.5x · Fwd EV/Sales: 0.3x · LTM EV/Sales: 0.4x · LTM EV/GP: 5.3x
RFTech Co., Ltd. engages in the IT and bio business in South Korea and internationally. The company offers fast charging travel adapters, data link cables, and wireless charging Tx pad; and 5G ANT, SMPS, and OBD products.
Post-merger, the largest shareholder Ohsung Advanced Materials' stake shifts from 30.46% to 30.29%, with no change in control. The merger combines RF Tech's IT mobile components/telecom equipment business with EcoVolt's automotive lighting modules and parts manufacturing.
Featured in Issue #27 · Aug 9, 2026
Eco Volt Co.,Ltd. 097780.KQ (KR) · ₩1,193.00 · MCAP $17M · EV -$61M
Fwd P/E: 0.7x · Fwd EV/EBITDA: -2.6x · Fwd EV/Sales: -0.3x · LTM EV/Sales: -0.4x · LTM EV/GP: -4.8x
Eco Volt Co., Ltd. manufactures and sells automotive light bulbs, electronic devices and electronic parts, and communication equipmentin South Korea. Its products are used in mobiles, touch modules, and tablets, as well as in automotive LD lighting modules.
ECOVOLT is the dissolving company merging into surviving company ALFTEC Co., Ltd., with both controlled by OSUNG ADVANCED MATERIALS Co., Ltd. Post-merger, OSUNG ADVANCED MATERIALS' stake in the surviving company is expected to be 30.29%, with combined related-party holdings at 36.82%.
Featured in Issue #27 · Aug 9, 2026
Bonne 226340.KQ (KR) · ₩6,200.00 · MCAP $37M · EV $44M
Fwd P/E: 3.3x · Fwd EV/EBITDA: 3.8x · Fwd EV/Sales: 0.6x · LTM EV/Sales: 1.5x · LTM EV/GP: 3.6x
Bonne Co., Ltd. manufactures and sells cosmetics in South Korea and internationally. The company offers baby and infant shampoos, rinses, lotions, creams, oils, personal care products, and bath products; bath oils/tablets/capsules, bath salts, bubble baths, and other bath products.
Former OURHOME Chair Ku Mihyeon signed a contract, to acquire management control of KOSDAQ-listed Bonne (226340) from largest shareholder Lim Sung-gi and related parties. Ku Mihyeon will also invest an additional 10 billion won in convertible bonds with a conversion price of approximately 1,300 won, potentially securing additional equity equivalent to 46% of currently issued shares.
Featured in Issue #27 · Aug 9, 2026
Activist Campaigns 17 situations
Intromedic Co., Ltd. 150840.KQ (KR)
Dream On No.2 New Technology Partnership has become the largest shareholder of Intromedic (150840).
Featured in Issue #29 · Aug 23, 2026
Kolon TissueGene Inc. 950160.KQ (KR) · ₩20,750.00 · MCAP $1.3B · EV $1.2B
Kolon TissueGene Inc. (950160.KQ) faces 147.5 billion won ($100 million) in convertible bond redemption risk next year following a share price collapse.
Featured in Issue #29 · Aug 23, 2026
Korea Zinc 010130.KS (KR) · ₩1,237,000.00 · MCAP $18.2B · EV $22.8B
Young Poong and MBK Partners are contesting a separately elected audit committee seat at Korea Zinc (010130.KS) to challenge existing board control.
Featured in Issue #29 · Aug 23, 2026
DaelimPaper 017650.KQ (KR) · ₩10,400.00 · MCAP $61M · EV $14M
Shareholder Han Byeong-woo filed a proxy solicitation for Daerim Paper's extraordinary general meeting on September 4, 2026.
Featured in Issue #29 · Aug 23, 2026
Sungwon Enertech Co., Ltd. 340930.KQ (KR) · MCAP $28K
Unique Enertech Minority Shareholders' Alliance increased its stake in Sungwon Ener Tech Co., Ltd. (340930.KQ) to 7.57% to influence management rights.
Featured in Issue #28 · Aug 16, 2026
Seoul Food Industry Co., Ltd. 004410.KS (KR) · MCAP $33M
Jung Phil Moon increased a stake in Seoul Food Industrial.Co., Ltd. (004410.KS) to 9.52%.
Featured in Issue #28 · Aug 16, 2026
Korea Zinc Co., Ltd. 010130.KS (KR) · MCAP $12M
Young Poong Corporation is contesting board composition at Korea Zinc Company, Ltd. (010130.KS) via a proxy solicitation for an extraordinary general meeting on September 9, 2026.
Featured in Issue #28 · Aug 16, 2026
Daeho AL Co., Ltd. 069460.KS (KR) · MCAP $23K
Shareholder Lee Sang-in is attempting to replace the board and auditor of Daeho Al Co., Ltd. (069460.KS) to normalize corporate governance and enhance shareholder value.
Featured in Issue #28 · Aug 16, 2026
Seohan Co., Ltd. 011370.KQ (KR) · ₩783.00 · MCAP $54M · EV $260M
SH Investment and special related party Kim Byung-jun hold 10,735,871 shares of Seohan, a 10.64% stake, up from 10.07%.
Featured in Issue #28 · Aug 16, 2026
Koramco Life Infra Reit Co., Ltd. 357120.KS (KR) · MCAP $212K
Koramco Life Infrastructure REIT filed proxy voting reference materials.
Featured in Issue #28 · Aug 16, 2026
Hanwool & Jeju Co., Ltd. 276730.KQ (KR) · MCAP $13K
Abacus Investment Partnership No. 01 increased its stake in HanWool & Jeju, Inc. (276730.KQ) to 8.46% to influence management rights.
Featured in Issue #28 · Aug 16, 2026
GeneBioTech Co. ,Ltd 086060.KQ (KR) · KRW 4,700 · MCAP $29M · EV $21M
Kim Sung-ho and Renew Medical Co., Ltd. increased their combined stake in GeneBioTech Co., Ltd (086060.KQ) to 19.4% to seek management control.
Featured in Issue #28 · Aug 16, 2026
JB Financial Group 175330.KS (KR)
Align Partners Capital Management is urging JB Financial Group (175330.KQ) and BNK Financial Group to explore a merger to create a more competitive combined entity.
Featured in Issue #28 · Aug 16, 2026
Artist Studio Co., Ltd. 200350.KQ (KR) · ₩2,440.00 · MCAP $17M
Artist Studio Inc. engages in the planning, producing, and selling drama contents and promotional materials.
Studio Jidam Co., Ltd. acquired 816,690 common shares (8.17% of total issued shares) of Artist Studio Co., Ltd. via an OTC stock purchase agreement dated August 3, 2026. The filing is made under Article 147 of the Capital Markets Act with a stated purpose of 'influencing management rights' (경영권 영향), the Korean equivalent of a US 13D activist filing. The seller is Artist Company Co., Ltd. and one other party; the acquisition was funded entirely from Studio Jidam's retained funds. Studio Jidam is a broadcast program production company controlled by Ahn Hyeong-jo (98% owner). Artist Studio is a KOSDAQ-listed entity with 9,996,025 voting shares outstanding.
Featured in Issue #27 · Aug 9, 2026
Fantagio Co., Ltd. 032800.KQ (KR) · ₩1,584.00 · MCAP $14M
Fantagio Corp. operates as a comprehensive entertainment company in Korea.
X Co., Ltd. is already Fantagio's largest shareholder; the filing states no detailed current plans but reserves the right to act in the future.
Featured in Issue #27 · Aug 9, 2026
Samsung Electronics Co., Ltd. 005930.KS (KR) · ₩231,000.00
Fwd P/E: 3.6x
Samsung Electronics Co., Ltd. engages in the consumer electronics, information technology and mobile communications, and device solutions businesses worldwide. The company operates through four divisions: Device eXperience (DX), Device Solutions (DS), SDC, and Harman.
Retail investor platform Act launched an electronic signature campaign on Aug. 4 to call an EGM at Samsung Electronics. The campaign demands 45.5 trillion won ($33 billion) in share buybacks and submission of bonus allocation criteria for shareholder approval. Samsung stated during its Q2 earnings call that the board and management are actively discussing execution plans, including a special dividend this year. Samsung posted an H1 operating profit of 14.6 trillion won; analysts estimate additional return capacity of up to 131.8 trillion won if 50% of FCF is used.
Featured in Issue #27 · Aug 9, 2026
Mobile Appliance Co., Ltd. 087260.KQ (KR) · ₩247.00 · MCAP $6M · EV -$3M
Fwd P/E: 1.1x · Fwd EV/EBITDA: -0.4x · Fwd EV/Sales: -0.0x · LTM EV/Sales: -0.1x · LTM EV/GP: -0.5x
Mobile Appliance, Inc. develops, manufactures, and exports car safety devices in South Korea and internationally. The company also provides connected, internet of things, driver monitoring systems, vehicle to load, interior camera, personal navigation devices solutions.
Shareholder Kong Seok-yeol, representing the Mobile Appliance Shareholders' Alliance, filed a proxy solicitation urging 'unanimous opposition' to all 8 director/auditor nominees at the August 18 EGM. The solicitor holds 152,253 common shares (0.47%) and is campaigning to block what it calls an attempt by current management and Daekwang to monopolize the board. The company is under a trading suspension with 31 accumulated penalty points and is subject to a KOSDAQ listing eligibility review. The solicitor cites a KRW 15 billion (~$11M) account pledge by Daekwang, a short-selling incident, and unresolved pledge release as evidence of management failure.
Featured in Issue #27 · Aug 9, 2026
Capital Returns 12 situations
KCC Corporation 002380.KS (KR) · ₩484,000.00 · MCAP $2.5B · EV $5.4B
KCC holds approximately 17 million shares of Samsung C&T, a stake of about 10.49%.
Featured in Issue #29 · Aug 23, 2026
Samsung Electronics 005930.KS (KR) · ₩281,500 · MCAP $1.29T
Samsung Electronics (005930.KS) plans to return between 90 trillion won ($65.2 billion) and 110 trillion won to shareholders this year, representing a record capital return.
Featured in Issue #29 · Aug 23, 2026
Samchuly Bicycle Co., Ltd. 024950.KQ (KR) · KRW 4,290 · MCAP $31M · EV $35M
Samchuly Bicycle Co., Ltd (024950.KQ) launched a self-tender offer to acquire and cancel 2,408,000 common shares for KRW 12,040,000,000 (~$8.5M) in cash.
Featured in Issue #28 · Aug 16, 2026
NBT Co., Ltd. 236810.KQ (KR) · KRW 1,462 · MCAP $17M · EV $10M
NBT Inc. (236810.KQ) is seeking shareholder approval to reduce its capital reserve by KRW 15,000,000,000 (~$11M) and transfer the funds to retained earnings.
Featured in Issue #28 · Aug 16, 2026
Shinhwa Dynamics Co., Ltd. 001770.KS (KR) · MCAP $6K
Board approved acquisition of 285,307 common shares for up to KRW 2,000,000,000 (~$1.4M).
Featured in Issue #28 · Aug 16, 2026
Samsung Pharmaceutical Co., Ltd. 001360.KS (KR) · MCAP $61K
Samsung Pharmaceutical board resolved on 2026-08-12 to acquire KRW 20,225,000,000 (~$14M) face value of its Series 32 private convertible bonds before maturity.
Featured in Issue #28 · Aug 16, 2026
Humax Co., Ltd. 115160.KQ (KR) · KRW 5,530 · MCAP $17M · EV $81M
Humax will acquire KRW 10,000,000,000 (~$7.1M) face value of its Series 24 privately placed convertible bonds before maturity.
Featured in Issue #28 · Aug 16, 2026
MoaData Inc. 288980.KQ (KR) · KRW 823.00 · MCAP $21M · EV $54M
MoaData Inc. decided on July 10, 2026 to acquire KRW 3,250,000,000 (~$2.3M) face value of its 11th series privately placed convertible bonds before maturity.
Featured in Issue #28 · Aug 16, 2026
Bitmax Co., Ltd. 377030.KQ (KR) · KRW 1,739 · MCAP $13M · EV $65M
Bitmax Co., Ltd (377030.KQ) is reducing potential dilution by buying back KRW 2.0 billion (~$1.4M) of its Series 2 private convertible bonds before maturity.
Featured in Issue #28 · Aug 16, 2026
Agent AI Co., Ltd. 060900.KQ (KR) · KRW 3,955 · MCAP $14M · EV $11M
Agent AI Co., Ltd. (060900.KQ) acquired KRW 4.0 billion (~$2.8M) face value of its 34th-series convertible bonds before maturity to reduce potential dilution.
Featured in Issue #28 · Aug 16, 2026
KT Corporation 030200.KS (KR) · MCAP $6M
Plan targets consolidated ROE of 9%-10% by 2028 and operating margin of 9%+ by 2028.
Featured in Issue #28 · Aug 16, 2026
SK Hynix 000660.KS (KR) · MCAP $847B
SK hynix Inc. (000660.KS) is reviewing additional shareholder value measures to be finalized in Q3.
Featured in Issue #28 · Aug 16, 2026
Divestitures 10 situations
Mercury Co., Ltd. 100590.KQ (KR) · ₩3,550.00 · MCAP $44M · EV $43M
Mercury Co., Ltd. approved disposition of land and buildings in Gajwa-dong, Incheon for KRW 56,000,000,000 (~$40M).
Featured in Issue #29 · Aug 23, 2026
Posco Holdings 005490.KS (KR) · MCAP $13M
POSCO Holdings Inc. (PKX) will divest $1.76 billion in shares of affiliates Posco International and POSCO DX to secure investment funds and boost corporate value.
Featured in Issue #28 · Aug 16, 2026
SK hynix 000660.KS (KR) · MCAP $847B
SK hynix Inc. (000660.KS) is considering a NASDAQ listing for a portion of its subsidiary Solidigm to raise capital while retaining control.
Featured in Issue #28 · Aug 16, 2026
TL Engineering 413300 (KR)
TL Engineering Co., Ltd. (413300.KS) is selling land and buildings to Korea Land & Housing Corporation and Gyeonggi Housing & Urban Development Corporation for KRW 3,724,350,400 (~$2.6M).
Featured in Issue #28 · Aug 16, 2026
Lotte Rental 089860.KS (KR)
Lotte Group signed a definitive agreement on August 11 to sell its 61.2% controlling stake in Lotte Rental to TPG.
Featured in Issue #28 · Aug 16, 2026
HRS Co., Ltd. 036640.KQ (KR) · KRW 4,920 · MCAP $57M · EV $33M
HRS Co., Ltd (036640.KQ) is disposing of land and buildings in Pyeongtaek-si to Gyeonggi Silup Co., Ltd. to settle outstanding debts.
Featured in Issue #28 · Aug 16, 2026
POSCO Holdings 005490.KS (KR) · ₩331,000.00 · MCAP $17.7B · EV $33.8B
Fwd P/E: 12.5x · Fwd EV/EBITDA: 5.9x · Fwd EV/Sales: 1.3x · LTM EV/Sales: 0.7x · LTM EV/GP: 8.5x
POSCO Holdings Inc., together with its subsidiaries, operates as an integrated steel producer in Korea and internationally.
POSCO Holdings is selling stakes in POSCO International and POSCO DX to secure strategic investment resources. The company is divesting 36,434,963 shares of POSCO International for 2.01849695 trillion won and 23,385,917 shares of POSCO DX for 481.74989 billion won. Following the transactions, POSCO Holdings' stake in POSCO International will decrease to 50% and its stake in POSCO DX will decrease to about 50%. These sales are intended to address the holding company discount and enhance corporate value.
Featured in Issue #27 · Aug 9, 2026
Shinyoungwacoal,Inc. 005800.KS (KR) · ₩13,390.00 · MCAP $85M · EV $25M
LTM EV/Sales: 0.2x · LTM EV/GP: 0.3x
Shinyoungwacoal,Inc. engages in the production and sale of foundation and lingerie products in South Korea. The company offers its products under the VENUS, PINK VENUS, VENUS MEN, ORLFA, SOLB, WACOAL, SALUTE, MC, RIECHE, MOTHERPIA, REMAMMA, ART-BEAU, VENUS CHOU, JASMIN.
Shinyoung Wacoal board resolved on Aug 7, 2026 to sell idle land and building in Sadang-dong, Seoul. The sale price represents 18.73% of total assets based on the 2025 consolidated financial statements. Counterparty is the Sadang 2-dong Local Housing Association Promotion Committee, a construction and development entity. Full payment of KRW 80B (~$57M) was received on Aug 7, 2026, split into deposit (KRW 8B (~$5.7M)), interim (KRW 16B (~$11M)), and balance (KRW 56B (~$40M)).
Featured in Issue #27 · Aug 9, 2026
Estraffic Co., Ltd. 234300.KQ (KR) · ₩3,065.00 · MCAP $58M · EV $56M
Fwd P/E: 8.4x · Fwd EV/EBITDA: 3.9x · Fwd EV/Sales: 0.4x · LTM EV/Sales: 0.5x · LTM EV/GP: 2.8x
EStraffic board resolved on August 6, 2026 to acquire LS Electric's railway signaling business division. Shareholder meeting to approve the transfer is scheduled for September 16, 2026; record date is August 21, 2026. Dissenters' statutory appraisal price is set at KRW 2,759 per share, based on a volume-weighted average formula under the Capital Markets Act.
Featured in Issue #27 · Aug 9, 2026
Synergy Innovation Co., Ltd. 048870.KQ (KR) · ₩1,675.00 · MCAP $105M · EV $115M
Fwd P/E: NM · Fwd EV/EBITDA: NM · Fwd EV/Sales: 3.9x · LTM EV/Sales: 1.4x · LTM EV/GP: 3.3x
Synergy Innovation Co., Ltd. engages in the research and development, and investment of generic and new drugs, medical devices, and health functional foods in South Korea. The company also provides pharmaceutical formulations; and develops non-vascular stents.
The August 4, 2026 amendment reduces the additional down payment due that day from KRW 5B (~$3.6M) to KRW 4B (~$2.8M), with the final balance of KRW 34.78B (~$25M) now due September 9, 2026. Closing is further contingent on KFDA approval of a botulinum toxin product license by Protok. Repeated delays and revised down payments signal buyer financing stress, creating a binary outcome regarding the KRW 34.78B (~$25M) balance due September 9.
Featured in Issue #27 · Aug 9, 2026
Rights Offerings 10 situations
Hyulim A-Tech Co., Ltd. 078590.KQ (KR) · ₩3,070.00 · MCAP $22M
Hyulim A-Tech Co., Ltd. (078590.KQ) is launching a shareholder-allotment rights offering of 6,000,000 common shares to fund debt repayment, operating funds, and facility investment.
Featured in Issue #29 · Aug 23, 2026
SKC Co., Ltd. 011790.KS (KR) · ₩86,300.00 · MCAP $2.1B · EV $4.6B
Absolics, a subsidiary of SKC (011790.KS), approved a ₩401.1 billion ($289.7 million) shareholder-allocated rights offering to fund glass substrate evaluation, customer certification, and facility upgrades.
Featured in Issue #29 · Aug 23, 2026
Exion Group Co., Ltd. 069920.KQ (KR) · ₩891.00 · MCAP $12M
Exion Group Co., Ltd. (069920.KQ) is issuing 3,800,000 common shares to raise KRW 2,789,200,000 (~$2M) for operating funds.
Featured in Issue #29 · Aug 23, 2026
IA Inc. 038880.KQ (KR) · ₩3,240.00 · MCAP $17M · EV $49M
IA Inc. (038880.KQ) is conducting a shareholder rights offering of 3,700,000 common shares to raise KRW 10,267,500,000 (~$7.4M) for operating funds.
Featured in Issue #29 · Aug 23, 2026
Poongwon Precision Co., Ltd. 371950.KQ (KR) · KRW 5,880 · MCAP $94M · EV $128M
Subscription runs from August 19 to August 20, 2026, with payment due August 24 and listing on September 7.
Featured in Issue #28 · Aug 16, 2026
IREM Co., Ltd. 009730.KQ (KR) · MCAP $10K
IREM amended its shareholder-allocation rights offering originally disclosed April 24, 2026.
Featured in Issue #28 · Aug 16, 2026
Clobot Inc. 466100.KQ (KR) · ₩32,700.00 · MCAP $590M · EV $558M
Clobot Inc. is issuing 5,494,500 new common shares at a final price of KRW 20,600 (~$15) per share.
Featured in Issue #28 · Aug 16, 2026
SensorView Co., Ltd. 321370.KQ (KR) · KRW 1,289 · MCAP $47M · EV $56M
SensorView confirms final issuance price of KRW 1,153 per common share, down from the expected KRW 1,339.
Featured in Issue #28 · Aug 16, 2026
EcoPro BM 247540.KS (KR) · MCAP $6M
EcoPro BM (247540.KQ) postponed the effective date of its ₩1.2 trillion (~$850M) rights offering registration statement to August 25 following a second voluntary amendment.
Featured in Issue #28 · Aug 16, 2026
MX Robotics Co., Ltd. 007820.KQ (KR) · KRW 4,450 · MCAP $62M · EV $76M
MX Robotics Inc. (007820.KQ) is raising $7.1M through a third-party allotment to consolidate control with its largest shareholder vehicle, MX On Co., Ltd. The company will issue 3,289,473 common shares at KRW 3,040 per…
Featured in Issue #28 · Aug 16, 2026
Strategic Reviews 6 situations
Kakao 035720.KS (KR) · ₩35,800.00 · MCAP $11.4B · EV $9.2B
Board approved the 2026 Kakao Value Enhancement Plan on 2026-08-21.
Featured in Issue #29 · Aug 23, 2026
HD Hyundai Heavy Industries Co., Ltd. 329180.KS (KR) · ₩475,500.00 · MCAP $35.9B · EV $32.3B
HD Hyundai Heavy Industries (329180.KS) is reviewing potential acquisitions and equity investments in U.S. shipyards to support the Korea-U.S.
Featured in Issue #29 · Aug 23, 2026
Korea Aerospace Industries 047810.KS (KR) · MCAP $7M
Export-Import Bank of Korea, KAI's largest shareholder at 26.41%, issued a public notice for a consulting service regarding KAI on August 12.
Featured in Issue #28 · Aug 16, 2026
SK hynix 000660.KS (KR) · MCAP $847B
SK hynix Inc. (000660.KS) is reviewing options for its packaging business following a Korea Exchange inquiry into reports of a stake sale in its KRW 4 trillion (~$2.8B) Chongqing plant.
Featured in Issue #28 · Aug 16, 2026
SK Hynix 000660.KS (KR) · ₩1,422,000.00 · MCAP $736.4B · EV $687.1B
Fwd P/E: 3.5x · Fwd EV/EBITDA: 2.5x · Fwd EV/Sales: 2.0x · LTM EV/Sales: 5.1x · LTM EV/GP: 7.3x
SK hynix Inc. through its subsidiaries, engages in research, develops, manufactures, distributes, and sells semiconductor devices in Korea, China, rest of Asia, the United States, Europe, and internationally.
SK Hynix (000660.KS) is evaluating strategic alternatives for its Chongqing, China semiconductor packaging facility in response to US export controls. US authorities revoked the company's validated end-user authorization, blocking equipment modernization at Chinese operations effective December 31, 2025. The facility is estimated to be worth approximately $3 billion, and the company is considering a strategic investor, potentially a Chinese financial institution, while retaining a reduced ownership stake. Separately, SK Hynix pledged $13 billion for an advanced packaging plant in Cheongju, South Korea, with groundbreaking scheduled for 2026. The review could result in a reduced ownership position rather than a complete exit.
Featured in Issue #27 · Aug 9, 2026
Sangsangin Securities 001290.KS (KR) · ₩1,203.00 · MCAP $91M
South Korean securities brokerage headquartered in Seoul, providing stock brokerage, investment-banking and project-financing services.
Sangsangin Securities' largest shareholder, Sangsangin Co., Ltd., is in discussions with Sh Suhyup Bank regarding the sale of its shares. The disclosure is a clarification of an August 6, 2026 Yonhap News report that Sh Suhyup Bank is pursuing an acquisition of Sangsangin Securities. No specific details have been confirmed, and the company will re-disclose once terms are finalized or within one month, by September 4, 2026.
Featured in Issue #27 · Aug 9, 2026
Tender Offers 4 situations
Golfzon Holdings Co., Ltd. 121440.KQ (KR) · ₩7,730.00 · MCAP $216M · EV $336M
SJ Investment Holdings is tendering for 5,742,701 common shares (13.41% of total issued common shares) at KRW 6,700 per share in cash.
Featured in Issue #29 · Aug 23, 2026
Gabia 079940.KQ (KR) · ₩44,850.00 · MCAP $423M · EV $622M
Align Partners is challenging a take-private tender offer for Gabia (079940.KQ) by demanding an extraordinary general meeting to expand the board and appoint three independent directors.
Featured in Issue #29 · Aug 23, 2026
Refine Co., Ltd. 377450.KQ (KR) · ₩16,200.00 · MCAP $175M
Realty Fine Co., Ltd. is attempting to increase its stake in Refine Co., Ltd. (377450.KQ) from 47.96% to 77.96% via a cash tender offer.
Featured in Issue #29 · Aug 23, 2026
Korea Plasma Technology U Co.,Ltd 054410.KQ (KR) · ₩3,515.00 · MCAP $13M
Korea Plasma Technology U Co., Ltd. engages in the heat treatment, aluminum, extrusion mold, and corbolt business in South Korea. The company offers vacuum heat treatment, oxynitriding, plasma, gas nitriding, PVD coating, vacuum carburization, and aluminum extrusion mold products.
ALUTEC Co., Ltd., the largest shareholder of KPTU, increased the combined holding of Alutec and its special related parties from 3,219,444 to 3,543,539 shares (61.88% of issued shares; Alutec’s own stake reached 61.86%) via a public tender offer. The tender offer settled on August 6, 2026, with ALUTEC acquiring 324,095 shares at KRW 4,000 per share, for a total consideration of KRW 1,296,380,000 (~$915.7K) using retained funds. The filing states the purpose is to influence management rights, listing potential future actions including director appointments, dividend decisions, and M&A, though no specific current plans are disclosed. KPTU is a KOSDAQ-listed company with 5,726,444 total voting shares outstanding.
Featured in Issue #27 · Aug 9, 2026
Going-Private 3 situations
Lotte Rental Co., Ltd. 089860.KS (KR) · ₩45,900.00 · MCAP $1.2B · EV $4.3B
Lexicon Korea Holdco Inc. executed a share purchase agreement on August 11, 2026, to acquire 22,212,063 shares of Lotte Rental, representing 61.17% of voting shares.
Featured in Issue #29 · Aug 23, 2026
Golfzon Holdings Co., Ltd. 121440.KQ (KR) · KRW 7,180 · MCAP $196M · EV $313M
SJ Investment Holdings Co., Ltd. launched a tender offer to take GOLFZON HOLDINGS Co., Ltd. (121440.KQ) private to delist the company from the KOSDAQ.
Featured in Issue #28 · Aug 16, 2026
Golfzon Holdings Co., Ltd. 121440.KQ (KR) · ₩6,590.00 · MCAP $179M · EV $296M
Fwd P/E: 4.3x · Fwd EV/EBITDA: 18.9x · Fwd EV/Sales: 0.9x · LTM EV/Sales: 1.2x · LTM EV/GP: 3.4x
GOLFZON HOLDINGS Co., Ltd., through its subsidiaries, engages in the golf, sports, health, and lifestyle businesses in South Korea and internationally.
SJ Investment Holdings is attempting to take Golfzon Holdings (121440.KQ) private via a cash tender offer at KRW 6,700 per share. The board expressed support for the offer's fairness and purpose on August 3, 2026, though it remained neutral on whether shareholders should tender. The transaction aims to delist the company to simplify a dual-listing structure with its subsidiary Golfzon Co., Ltd. The board states the price was validated by an independent sum-of-the-parts valuation and benchmarked against 19 comparable voluntary delistings. The board has committed to ensuring any subsequent squeeze-out provides consideration no lower than the tender price per February 2026 Ministry of Justice restructuring guidelines.
Featured in Issue #27 · Aug 9, 2026
Restructuring 2 situations
Union Korea Pharm Co., Ltd. 080720.KQ (KR) · MCAP $10K
Seoul Rehabilitation Court approved the rehabilitation plan.
Featured in Issue #28 · Aug 16, 2026
TERA SCIENCE.Co.,LTD 073640.KQ (KR) · MCAP $29K
Shareholders led by Choo OO filed an application to commence rehabilitation proceedings against TERA SCIENCE.Co.,LTD (073640.KQ) on July 6, 2026.
Featured in Issue #28 · Aug 16, 2026
Spin-Offs 1 situation
Kakao Corp. 035720.KS (KR) · ₩35,800.00 · MCAP $11.4B · EV $9.2B
Kakao Corp. (035720.KS) will undergo a vertical spin-off into a newly established KakaoAI and a surviving entity, KakaoX.
Featured in Issue #29 · Aug 23, 2026
Litigation Outcomes 1 situation
DongKoo Bio & Pharma Co., Ltd. 006620.KQ (KR) · ₩3,690.00 · MCAP $72M · EV $124M
Dongkoo Bio Pharmaceutical lost the first-instance ruling in its lawsuit against revocation of GMP compliance certification for solid oral dosage forms.
Featured in Issue #29 · Aug 23, 2026
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