New Risk • Apr 04
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Paying a dividend despite being loss-making. Large one-off items impacting financial results. Market cap is less than US$100m (₩68.2b market cap, or US$45.2m). Aankondiging • Mar 10
Union Corporation, Annual General Meeting, Mar 27, 2026 Union Corporation, Annual General Meeting, Mar 27, 2026, at 10:00 Tokyo Standard Time. Location: auditorium, 94, sogong-ro, jung-gu, seoul South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩125 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 16 April 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.9%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (4.6%). Declared Dividend • Nov 08
Dividend of ₩125 announced Dividend of ₩125 is the same as last year. Ex-date: 29th December 2025 Payment date: 16th April 2026 Dividend yield will be 3.0%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (13% cash payout ratio). The dividend has increased by an average of 3.8% per year over the past 6 years and payments have been stable during that time. Aankondiging • Nov 07
Union Corporation announces Annual dividend, payable on April 16, 2026 Union Corporation announced Annual dividend of KRW 125.0000 per share payable on April 16, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Oct 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 48% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (₩92.6b market cap, or US$64.9m). Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: ₩169 (vs ₩66.00 in 2Q 2024) Second quarter 2025 results: EPS: ₩169 (up from ₩66.00 in 2Q 2024). Revenue: ₩54.5b (down 2.8% from 2Q 2024). Net income: ₩2.63b (up 156% from 2Q 2024). Profit margin: 4.8% (up from 1.8% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Aankondiging • Mar 12
Union Corporation, Annual General Meeting, Mar 28, 2025 Union Corporation, Annual General Meeting, Mar 28, 2025, at 10:00 Tokyo Standard Time. Location: auditorium, 94, sogong-ro, jung-gu, seoul South Korea New Risk • Feb 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.4% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (₩100.5b market cap, or US$68.6m). Upcoming Dividend • Dec 20
Upcoming dividend of ₩125 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 17 April 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.5%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (4.3%). New Risk • Nov 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.4% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (₩77.4b market cap, or US$55.5m). New Risk • Nov 23
New major risk - Revenue and earnings growth Earnings have declined by 2.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.4% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (₩74.9b market cap, or US$53.3m). Upcoming Dividend • Dec 20
Upcoming dividend of ₩125 per share at 2.3% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 19 April 2024. Payout ratio is a comfortable 51% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (4.3%). New Risk • Dec 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (0.09% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.6% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩92.1b market cap, or US$69.8m). Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩6,170, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 10x in the Basic Materials industry in South Korea. Negligible returns to shareholders over past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩125 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 13 April 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.7%). Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. CEO, VP & Director Woo Sun Lee was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 17% share price gain to ₩5,970, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 12x in the Basic Materials industry in South Korea. Total returns to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩4,750, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 12x in the Basic Materials industry in South Korea. Total returns to shareholders of 6.1% over the past three years. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. CEO, VP & Director Woo Sun Lee was the last director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Dec 22
Upcoming dividend of ₩125 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 14 April 2022. Payout ratio is a comfortable 3.7% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of South Korean dividend payers (2.4%). In line with average of industry peers (1.7%). Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improved over the past week After last week's 23% share price gain to ₩7,730, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 19x in the Basic Materials industry in South Korea. Total returns to shareholders of 108% over the past three years. Aankondiging • Mar 18
Union Corporation, Annual General Meeting, Mar 31, 2021 Union Corporation, Annual General Meeting, Mar 31, 2021, at 10:00 Korea Standard Time. Is New 90 Day High Low • Feb 19
New 90-day high: ₩8,240 The company is up 30% from its price of ₩6,350 on 20 November 2020. The South Korean market is up 19% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Basic Materials industry, which is up 58% over the same period. Is New 90 Day High Low • Jan 11
New 90-day low: ₩5,610 The company is down 29% from its price of ₩7,930 on 13 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 29% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩100.00 Per Share Will be paid on the 14th of April to those who are registered shareholders by the 29th of December. The trailing yield of 1.7% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (2.4%). Is New 90 Day High Low • Dec 22
New 90-day low: ₩5,950 The company is down 21% from its price of ₩7,550 on 23 September 2020. The South Korean market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 18% over the same period. Is New 90 Day High Low • Nov 11
New 90-day low: ₩6,380 The company is down 37% from its price of ₩10,050 on 13 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is down 9.0% over the same period. Is New 90 Day High Low • Oct 26
New 90-day low: ₩6,800 The company is down 18% from its price of ₩8,310 on 28 July 2020. The South Korean market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 3.0% over the same period.