PaperCorea페이퍼코리아

PaperCorea is loss-making over the last year, with its share price down about 49% and trading far below book value.

PaperCorea makes industrial paper, newsprint and media products and runs some real estate development. Trailing results to H1 2026 show revenue of ₩281B with a small operating profit of ₩3.3B but a net loss of ₩11.7B, and borrowings of ₩155B well above cash of ₩48B. The share price closed at ₩1,800 on 2026-10-26, with a market cap of about ₩64B.

What stands out

• Revenue has fallen for several years, from ₩436B in 2021 to ₩267B in 2025, though trailing revenue to H1 2026 is ₩281B.
• Operating profit turned slightly positive on a trailing basis (1.2% margin), after an operating loss of ₩5.3B in 2025, but the company still posted a trailing net loss of ₩11.7B.
• Liabilities are 77.6% of equity and borrowings are ₩155B, against ₩48B of cash; trailing free cash flow was ₩26.8B.
• Price-to-book is about 0.2 and the DCF fair value model gives a base value of ₩31, far below the share price; the data does not explain this gap and the model output should not be read as a forecast.
• Recent filings are mostly shareholder meeting notices and results, including an extraordinary meeting on 2026-09-30 and a half-year report on 2026-08-14; the data contains no news headlines.

What to watch

• The next half-year or annual results, to see whether operating profit holds and the net loss narrows.
• Outcomes of the shareholder meetings and the share consolidation decision mentioned in the filings, which the data does not explain in detail.
• Debt levels relative to cash, given borrowings of ₩155B and a trailing net loss.