Every company and theme post on this site follows the rules below.
1. Source priority
Primary sources come first, in this order:
- DART electronic disclosures (Financial Supervisory Service)
- Company annual and quarterly reports
- Company IR presentations and earnings releases
- Korea Exchange (KRX) data and official statistics
- Brokerage and industry research
- News reports
For US-listed companies, SEC filings (10-K, 10-Q, 20-F, 6-K) and the company’s own earnings materials take the place of DART.
2. Facts and calculations are kept apart
Numbers taken directly from filings or IR materials are kept apart from numbers the author calculated. Operating margin, EPS, valuation multiples and scenario estimates depend on the assumptions used, and those assumptions are stated in the post.
3. Each thesis is tested
Posts separate what has already changed, what still has to be confirmed, and the dates when it will be confirmed. Fair values come from stated earnings estimates and multiples, not from price momentum.
4. Sources are listed
Each post ends with the filings, IR materials, statistics and main reports it relied on, with links where available.
5. Data date and data used
- Prices, volumes and indices (KOSPI, KOSDAQ): KRX daily data and Naver Finance
- Net buying by investor type (retail, foreign, institutions, pension funds, private equity funds and others): KRX daily data. Korea publishes this every day, and the posts use it to show who bought and who sold
- Analyst consensus and broker target prices: WiseReport company data and broker reports on Naver Finance
- Exchange rates and overseas stocks: Yahoo Finance
Each post states its data date and the closing price used at the top.
6. Units
- Korean amounts are shown in won: KRW bn (billion) and KRW tn (trillion). Korean sources count in units of 100 million won (eok); KRW 100 eok = KRW 10bn.
- Where a dollar figure helps, it is converted at the exchange rate on the post’s data date, and the rate is stated.
- Tickers use the Korean six-digit code with the exchange: .KS for KOSPI, .KQ for KOSDAQ (for example 005930.KS).
7. Not investment advice
The analysis and calculations here are personal research. They are not a solicitation to buy or sell any financial product.
8. Corrections
When an error is found, the post is corrected and the date and content of the correction are noted at the bottom of the post. To report an error, use the Contact page.