Joosung주성코퍼레이션

Joosung has returned to a small profit on a trailing basis, but its shares have fallen sharply over the past month and it has a pending merger decision.

Joosung makes telecom repeaters, network equipment and optical components, selling mainly to Japanese and Korean telecom operators, and since 2024 has also run a freight forwarding business. Trailing twelve-month revenue is ₩86.5B with a thin 1% operating margin and 2.8% net margin, while free cash flow is negative at about -₩3.5B. The share price closed at ₩5,770 on 2026-10-26, down 25.5% over one month and 15% over three months.

What stands out

• Revenue has grown from ₩23.9B in 2023 to ₩85.4B in 2025, but 2024 profit was boosted by a large net income figure that exceeded operating income, and 2025 operating margin was 3.7%.
• On trailing figures, operating income is ₩886M and net income is ₩2.4B, so earnings are small relative to the ₩72.4B market value.
• Valuation is high on some measures: P/E is 29.9 and EV/EBITDA is 48.9, compared with a P/B of 2.4 and P/S of 0.8, and the company pays no dividend.
• Filings in late October 2026 include a merger decision, an amended attachment to it, and a notice of a shareholders' meeting, with a record date set.
• Foreign ownership fell from 0.6% to 0% over the past 60 days, and the 20-day flows show net foreign selling with net retail buying.
• The data includes no news headlines, no analyst ratings and no forecasts, so the reasons for the recent share price fall are not explained in the data.

What to watch

• The terms, timing and shareholder vote for the merger, which the filings describe but whose details are not in this data.
• Whether free cash flow turns positive, since trailing free cash flow is negative and borrowings are ₩3.2B against ₩17.6B cash.
• Future filings on the largest shareholder's holdings and any further management or shareholding changes, given the September 2026 filings.