[Special Stock] Expectation of 'Corporate Value-Up' Benefits... Hanwha Life Insurance Rises Over 10%

Implementation of 'Corporate Value-Up Program' from February
Aim to Resolve 'Korea Discount'
Most Major Insurance Stocks with Low PBR on the Rise

Hanwha Life is showing strong performance. This appears to be due to expectations of benefits for insurance stocks following the government's policy to enhance the corporate value of listed companies.

As of 1:50 PM on the 30th, Hanwha Life is trading at 3,080 KRW, up 10.99% (305 KRW) from the previous day. This marks a rise for two consecutive trading days following a 4.52% increase the day before. It is the first time since October 20 of last year (closing price 2,960 KRW) that Hanwha Life's stock price has surpassed 3,000 KRW. The 52-week high (3,150 KRW) is also within reach.

The financial authorities plan to introduce and operate a "Corporate Value-Up Program" starting in February, focusing on comparative disclosure of price-to-book ratios (PBR) to resolve the "Korea Discount" (the undervaluation of the Korean stock market). This is a measure to strengthen the corporate value of listed companies. Since most insurance companies have a PBR below 1, expectations for a rise in insurance stock prices are increasing. There are also many listed companies with a PBR below 0.5.

Most other insurance stocks are also on the rise. Stocks such as Mirae Asset Life (14.88%), Heungkuk Fire & Marine Insurance (5.48%), Hanwha General Insurance (6.67%), Hyundai Marine & Fire Insurance (3.63%), Samsung Fire & Marine Insurance (3.03%), Lotte Insurance (1.90%), Tongyang Life (4.75%), and Samsung Life Insurance (0.61%) are all increasing.