KB Securities Begins Analysis of Unlisted Companies... First Subject is 'Musinsa'

Active Analysis of Unlisted Companies in New Growth Sectors Based on Audit Reports

[Asia Economy Reporter Minwoo Lee] KB Securities Research Center has released its first analysis report on unlisted growth companies. Starting with the fashion platform 'Musinsa,' it plans to analyze various prospective 'unicorns' (unlisted companies valued at over 1 trillion KRW).

KB Securities announced on the 8th that it has published this type of unlisted company analysis report for the first time.

The report is nicknamed 'Caviar.' It stands for ‘Ke’bi (KB) ‘Bi’sangjang (unlisted) ‘Eo’benjeoseu (Avengers), symbolizing the commitment to provide a premium report, like the luxury ingredient caviar, on unlisted companies that lack information and analysis compared to listed companies.

Based on audit reports, the unlisted company analysis report includes in-depth information and analysis such as company overview, business model and industry status, investment points, corporate value, and risks. The first company analyzed is the fashion platform 'Musinsa,' which has secured overwhelming market dominance. KB Securities analyzed that Musinsa holds a strong market position as the largest online fashion platform in Korea and is expanding its scale and strengthening its profit structure through private brand (PB) product expansion and business portfolio diversification.

Earlier, KB Securities established the New Growth Company Solutions Team within the Research Center last month to analyze promising unlisted companies. The New Growth Company Solutions Team is responsible for providing proactive analysis of promising companies in various growth industries such as e-commerce, mobility, fintech (finance + technology), bio, and eco-friendly energy, especially high-quality unlisted companies.

In addition to publishing analysis materials, KB Securities plans to support sales activities and investment opportunity creation in asset management (WM) and investment banking (IB) sectors by hosting related seminars and conferences, as well as providing opportunities for mutual exchange between related departments and clients.

Yoo Seung-chang, head of KB Securities Research Center, stated, "We will leverage the solid capabilities built through listed company analysis to discover high-growth, high-quality unlisted companies and consistently provide insightful analysis on growth companies and growth industries."

This content was produced with the assistance of AI translation services.