South Korea is one of those economies that global value investors pay attention to. It is export-driven. It is relatively small. And it sits adjacent to emerging market behemoth China. The entire economy could almost be considered a cross-border special situation. In this, it has a lot of inefficiencies that global value investors hunt for.
This month we spoke with Chan Lee and Albert Yong at Petra Capital Management, an investment advisory and portfolio management firm based in Seoul, South Korea. Petra focuses on undervalued Korean public companies whose market prices are significantly discounted to their intrinsic value. Since inception, Petra’s investment portfolio has returned 27.2% annualized, net of all fees to investors. We spoke with them about CJO Home Shopping and its joint venture with Shanghai Media Group (continued here)