Added to YB: 2026-08-26
Pitch date: 2026-08-24
039310.KQ [neutral]
Sejoong Co., Ltd.
+2.33%
current return
Author Info
Sung Capital is an alternative asset management firm run by Oliver Sung. We invest capital for families, registered investment advisors, and accredited investors through a private investment fund. We pick underpriced stocks, usually in pockets of the market where large pools of capital (funds and institutions) can’t or won’t invest, but we flip every stone. We pick stocks only, use no leverage, and require a significant margin of safety in every investment. Sign up for the newsletter.
Company Info
Sejoong Co., Ltd. operates as a travel services and information technology company. It offers corporate travel process, expense management, support policy compliance, seat T/L management, TL ticketing, hotel/car rental, visa issuance, convenience, photo printing, pocket wifi, and roaming SIM chip services.
Market Cap
KRW 26.0B
Pitch Price
KRW 1.4K
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
9.97
EV/Sales
N/A
Sector
Software
Category
value
All Korean net nets #1: how much hair is too much? - Sejoong Co., Ltd.
039310.KQ (quick overview): Deep-value Korean net-net: KRW26bn cap at 0.6x reported NCAV, but adding face-value financial assets/investment property (incl. KRW15.4bn land at cost) lifts all-in NCAV to ~KRW79bn, putting it at 0.36x P/NCAV, ~180% upside; liquidation ~3x share price. Three moatless but asset-light segments (travel, printing/BPO, Siemens software) that break even on average. Catalyst: sub-threshold KRX market cap may force a Value-up plan to stay listed; founder died March, estate unsettled. Key risks: no dividend since 2017, no capital-return path absent activist pressure, prior delisting scare (2020), and possible family control fight among heirs.
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