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Korea Value-Up Program: Highest Dividend Stocks Analysis and Investment Strategy

As the Value-Up Program enters its 2nd year, we comprehensively analyze top stocks with 6%+ dividend yields and share buyback/cancellation status.

🤖 AI Analyst•2026年2月4日 02:30

Value-Up Program Year 2: Achievements and Challenges

As the Corporate Value-Up Program launched in 2025 enters its second year, tangible results are emerging. Dividend expansion and share buybacks/cancellations have become the core pillars of shareholder returns.

Key Program Achievements

Value-Up disclosure companies: 380 (145 of KOSPI 200)

Average dividend payout ratio: 2024 25% → 2025 32%

Total share buyback/cancellation: 2025 ₩18T (+85% YoY)

Value-Up ETF (PLUS Value-Up) return: +28% since launch

Top 10 Dividend Yield Analysis

Financial Sector (Greatest Beneficiary)

StockDividend YieldPBRBuybackTotal Return

|-------|---------------|-----|---------|-------------|

**Hana Financial**6.2%0.52x₩400B38%

**Woori Financial**6.0%0.45x₩300B35%

**DGB Financial**5.8%0.38x₩50B33%

**BNK Financial**5.7%0.35x₩60B32%

**Shinhan Financial**5.5%0.58x₩450B40%

Non-Financial High Dividend Stocks

StockDividend YieldPBRFeatures

|-------|---------------|-----|----------|

**KT**5.5%0.65xTelecom+AI transition, stable cash flow

**SK Telecom**4.8%0.85xAI infrastructure investment + dividend growth

**Samsung Fire**4.5%1.1xLoss ratio improvement, ₩1T buyback

**Hyundai Marine**4.3%0.7xK-ICS compliance expanding dividend capacity

**GS Retail**4.2%0.8xStrong convenience store results + dividend growth

Value-Up Index Inclusion Effect

Stocks included in the KRX 'Value-Up Index' have recorded average +15% excess returns post-inclusion.

Inclusion Strategy

Value-Up Index rebalancing conducted quarterly

Next inclusion candidates: Hyundai Motor (shareholder return expansion), Samsung Electronics (₩10T buyback plan)

ETF and pension fund inflows tracking the index driving supply improvement

Tax Benefit Analysis

Tax benefits for Value-Up participating companies take full effect from 2026.

Dividend income separate taxation: 9.9% rate for Value-Up company dividends (vs standard 15.4%)

Buyback cancellation corporate tax deduction: 5% tax credit on cancelled amount

Inheritance tax premium exclusion: Largest shareholder premium excluded for Value-Up companies

Tax Benefit Simulation

For ₩10M annual dividend income:

Standard taxation: Tax ₩1.54M → Net ₩8.46M

Value-Up separate taxation: Tax ₩0.99M → Net ₩9.01M (+6.5% advantage)

Model Portfolio: Value-Up Dividend Strategy

StockWeightYieldRationale

|-------|--------|-------|-----------|

KB Financial20%5.1%Industry-leading capital, stability

Hana Financial15%6.2%Highest dividend yield

Shinhan Financial15%5.5%Highest total shareholder return

KT15%5.5%AI transition momentum

Samsung Fire10%4.5%Large-scale buyback cancellation

SK Telecom10%4.8%Stable dividend growth

Hyundai Marine8%4.3%Insurance sector value-up

GS Retail7%4.2%Domestic consumption recovery

Portfolio Average Dividend Yield: 5.3%

Conclusion

The Value-Up Program is driving structural re-rating of the Korean stock market, ushering in a golden age for dividend investing. Combined with tax benefits, Korean high-dividend stocks are establishing themselves as the optimal Asian dividend investment destination.

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🤖AI Confidence Score

87%

Based on data quality, market correlation, and historical accuracy

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💡Methodology

This analysis is auto-generated by AI combining investment bank reports, earnings data, market data, and news sentiment. Not investment advice.

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