Seoul Guarantee Insurance서울보증보험

Seoul Guarantee Insurance trades near book value with a high dividend yield, but its profits have been falling and the share price is down over the past year.

Seoul Guarantee Insurance is South Korea's only comprehensive guarantee insurer, writing surety and credit guarantee products. For the trailing twelve months to H1 2026 it reported operating income of ₩444B and net income of ₩307B, with ROE of 6.1%. At ₩42,700 the shares are about 0.6 times book value and 9.7 times earnings, with the stock down 15.1% over one year.

What stands out

• Trailing net income of ₩307B is above 2025 net income of ₩268B, so earnings have recovered in the latest period.
• Valuation looks low: P/E of 9.7, P/B of 0.6, and a dividend yield of 6.7% at the current price.
• The company's own fair value model gives a base value of ₩30,321, below the current price, with a bear case of ₩10,044 and a bull case of ₩56,767.
• Liabilities are 85.3% of equity, and the trailing free cash flow is ₩318B, though revenue and margin figures are not in the data.
• Foreign ownership edged up to 6.8% from 6.6% sixty days ago, while institutions were net buyers and foreign and retail investors were net sellers over the last 20 days.

What to watch

• The corporate value-up plan and cash dividend decision filed on 11 August 2026, including the record date for the dividend.
• Largest shareholder holding changes and insider share reports, both filed on 25 August 2026.
• The share price is about 34% above its 52-week low of ₩39,650 and well below its 52-week high of ₩64,800, so further swings are possible.