Korea Export Packaging Industrial한국수출포장

Korea Export Packaging is loss-making on a trailing basis after a sharp swing from profit in 2023 to losses in 2025 and the first half of 2026.

The company makes corrugated paper and packaging boxes in Korea, with revenue of about ₩290B over the trailing twelve months to H1 2026 but an operating loss of about ₩23B and a net loss of about ₩9.4B. The share price is ₩2,630, down 9% over one year, and trades at about 0.3 times book value, with a 3% dividend yield shown in the data.

What stands out

• Trailing revenue is about ₩290B, roughly flat against 2025 at ₩290B, but operating margin has moved from 7.3% in 2023 to -8% on a trailing basis.
• The company reports cash of about ₩23B and no borrowings, with liabilities at 30.4% of equity.
• Free cash flow on a trailing basis is negative at about -₩18B, so cash generation is currently weak.
• The share price is ₩2,630, versus a 52-week range of ₩2,150 to ₩3,785, and the base-case fair value model gives ₩4,057 (bear ₩2,108, bull ₩7,666); these are model outputs, not forecasts.
• Recent filings include a voluntary disclosure on resumption of production dated 21 September 2026, but the data does not say why production was halted or how long it lasted.

What to watch

• The next filing with full-year or quarterly results, and whether the operating loss narrows from the trailing -₩23B.
• Details of the production resumption and any effect on output or costs, which the data does not explain.
• Foreign ownership has risen from 1.9% to 3% over 60 days, while foreign flows over the last 20 days are slightly negative; no news headlines were available to explain either.