Lee Jae-Myung's Campaign Pledge - Cancellation of Treasury Shares

• Lee Jae-Myung (who is leading in most election polls) has mentioned cancellation of treasury shares as one of the key campaign pledges to improve the corporate governance in Korea.

• If the cancellation of these shares becomes mandatory, the SK Group and Lotte Group will be most affected.

• We provide a list of 21 stocks in KOSPI200 that have the highest ratios for treasury shares/total outstanding shares. These stocks could receive more attention in the next several months.