WHAT’S THE STORY?2H policy includes plan to stabilize presales market: Korea’s Ministry of Strategy and Finance yesterday released its 2H economic policy, with a KRW20t financial improvement plan (including a KRW10t supplementary budget), while policies related to housing and construction comprise measures to: 1) stabilize the nation’s overheated presales market; 2) stimulate rentals via REITs; 3) expand the infrastructure for publicprivate partnerships [PPPs]; and 4) support overseas orders. We

Korean refineries and chemicals are trading sharply lower on unexpected events such as the Brexit issue and the resulting increase in global macroeconomic uncertainties. However, we believe risks of a possible down-adjustment of earnings consensus are fully priced in at current share valuations. Relative valuation attractiveness could dip on a global view, but further downsides in share prices remain limited with key factors determining earnings, such as the spreads and refining margins of major

[THE INVESTOR] Jeju Air, Korea’s largest low-cost carrier, will see faster growth in earnings from the third quarter of the year, Korea Investment & Securities said. In the second quarter, Jeju Air is expected to post 162.4 billion won (US$138.7 million) in revenue, up 14.1 percent from a year earlier and 44.6 percent drop in operating income to log 5 billion won, said Yoon Hee-do, an analyst at Korea Investment & Securities said. The parliamentary election, which was held in April, slowed air t