Korean preferred shares: 111 on the KOSPI, a median price of 75% of the common, and 36 that trade above it
Korean preferred shares usually trade at a discount to the common. We measured all 111 on the KOSPI: the median sells at 0.748 times its common. None of the 29 worth 100 billion won or more trades above it; 36 small ones do.
AI-assisted, human-reviewed sourcing. Figures are pulled programmatically from the official sources listed at the end of this article and checked by an editor before publication.
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A Korean company can list two kinds of share. The common carries a vote. The preferred (its Korean name ends in the character for “pref”; of the 111 on the KOSPI, 88 have a code ending in 5, 7 or 9 and 23 end in a letter) normally carries no vote and a dividend preference. Ask how much cheaper the preferred is and most answers give one example, usually Samsung Electronics.
We measured all of them. On 23 October 2026 the KOSPI had 111 preferred listings worth 157.9 trillion won, 3.45% of the market.
The spread of discounts
We divided each preferred’s closing price by its common’s.
| Preferred ÷ common | Listings |
|---|---|
| below 0.5 | 27 |
| 0.5 – 0.6 | 10 |
| 0.6 – 0.7 | 14 |
| 0.7 – 0.8 | 9 |
| 0.8 – 0.9 | 10 |
| 0.9 – 1.0 | 5 |
| above 1.0 | 36 |
The median is 0.748: the typical KOSPI preferred sells for about three quarters of its common. But there is no typical shape. A quarter of them are below 0.531, and a quarter are above 1.158.
Big preferreds sit at a discount; the premiums are small and quiet
| Group | Listings | Median ratio | Above the common |
|---|---|---|---|
| Worth 100 billion won or more | 29 | 0.535 | 0 |
| Worth less | 82 | 0.870 | 36 |
Every preferred that trades above its common is small. The median one of the 36 was worth 4.6 billion won and traded 6 million won on 23 October. The highest ratios, 6.49 for Namsun Aluminum’s preferred and 6.44 for Tongyang’s, came on 8 million and 17 million won of trading. A price that barely trades is a weak signal of value.
Some large ones, on 23 October:
| Preferred | Ratio to common | Market value (trillion won) |
|---|---|---|
| Samsung Electronics | 0.779 | 134.7 |
| Hyundai Motor (2nd pref B) | 0.540 | 5.46 |
| Hyundai Motor | 0.535 | 3.61 |
| LG Electronics | 0.371 | 1.00 |
| Samsung Electro-Mechanics | 0.348 | 1.14 |
| Amorepacific | 0.294 | 0.40 |
The deepest discount was Doosan Fuel Cell’s first preferred, at 0.167.
Samsung Electronics’ preferred alone is 85.3% of the value of all 111, which is why “the preferred discount” in Korea often just means Samsung’s (Samsung’s preferred-common gap in October).
How to read it
A ratio below 1 is the usual price of giving up a vote. A ratio far above 1 on a few million won of trading is mostly a statement about how few shares changed hands. Neither is a signal to act on. This is the distribution, not a recommendation.
Statistics, not advice.
Related: KOSPI market-value share by company · How many companies are listed in Korea · The 28 companies reporting this week are 62.8% of KOSPI. More from the same data: Korea’s largest listed companies · When Korean companies must report quarterly results.
Data & Verification Notes
- Data as of
- Sources
- Korea Exchange (KRX OPEN API) — KOSPI daily stock trading for 23 October 2026, collected by SeoulMarkets: closing price, trading volume, trading value and market capitalisation for all 940 KOSPI listings. Preferred listings identified by their names and matched to the common share with the same first five code digits; all 111 matched.
- Cross-checks
- 111 preferred listings, total market value 157.9 trillion won, 3.45% of KOSPI; 2.62% of KOSPI trading value that day; 3 had no trades.
- Preferred / common price ratio: minimum 0.167, 25th percentile 0.531, median 0.748, 75th percentile 1.158, maximum 6.485.
- Distribution: below 0.5: 27; 0.5–0.6: 10; 0.6–0.7: 14; 0.7–0.8: 9; 0.8–0.9: 10; 0.9–1.0: 5; above 1.0: 36.
- Preferreds worth 100 billion won or more: 29, median ratio 0.535, none above 1. Below 100 billion: 82, median 0.870, 36 above 1.
- The 36 above 1: median market value 4.6 billion won and median trading value 6 million won on 23 October. The other 75: 55.9 billion and 110 million won.
- Excluded figures
- Dividend, voting and conversion terms of each preferred. We compared prices only.
- One day. Ratios move daily, and a thinly traded preferred can jump on a few trades.
- KOSDAQ and KONEX preferreds.
- This is not investment advice.
- Instruments
- 005935, 005385, 005387, 066575, 009155, 090435
The full dataset behind these figures — every listed company, every row — is available to license. SeoulMarkets data for licence →
Not investment advice. SMarkets publishes data journalism for general information only. Nothing here is investment advice, a recommendation, or an offer to buy or sell any security — any investment you make is at your own risk and responsibility. Figures are derived from official public data sources and may be revised by the issuing agency. Verify independently before acting.
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