research.html

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<h3>Projects</h3>
<ul>
    <li><b>Gauging the fairness of Korean ELS product construction</b></li>
    <p>Advised by Prof. <a href="https://junkyung.yonsei.ac.kr/">Jun Kyung Auh</a>, Prof. <a href="https://biz.kw.ac.kr/introduce/member_view.php?no=108">Wonho Cho</a></p>
    <p style="color:#ec6a00"><i>Research Assistant, Yonsei School of Business, Ongoing</i></p>
    <p>
        I am assisting in research that aims to determine whether ELS products in Korea are inherently unfair towards investors in their design.
        Events such as the recent Hong Kong ELS incident highlight the relevance of this topic.
        During the project, I gathered and preprocessed financial data from over 300,000 ELS products, utilizing open API from the Korea Securities Depository.
        I am currently extracting relevant data from all ELS prospectuses (shelf registrations) available on DART (Korean equivalent of EDGAR).
    </p>
</ul>

<br>

<h3>Coursework</h3>
<ul>
    <li><b>Semibeta asset pricing model in the Korean market: An extension study</b> [<a href="/documents/semibeta.pdf">Paper</a>] [<a href="https://github.com/heewonh/semibeta">Code</a>] [<a href="/documents/semibeta_slides.pdf">Slides</a>]</li>
    <p>Advised by Prof. <a href="https://ysb.yonsei.ac.kr/faculty.asp?mid=n02&sOpt=&uid=59">Jaehoon Hahn</a></p>
    <p style="color:#ec6a00"><i>Honors Program in Business, Yonsei School of Business, June 2024</i></p>
    <p>
        Abstract: This study extends the four-semibeta asset pricing model to the Korean stock
        market, including KOSPI, KOSDAQ and the overall market. Using updated data,
        it evaluates the model's robustness for more recent market movements,
        including the analysis of financial crises, such as COVID-19 and the 2022
        market decline. Findings show two semibetas consistently significant across all
        market variants, but the model's performance during recent crises is less clear,
        indicating potential limitations and area for further research.
    </p>
</ul>