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Kangwon Land: Negative Growth Likely Until 3Q18

Summary

We maintain MARKETPERFORM and our target price of KRW30,000 on Kangwon Land.

The company’s attractive dividend policy (2.9% yield for 2018) will be highlighted as we head into the end of the year.

Expenses related with the Water World theme park have been recognized since 3Q18.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.