IB Kimyoung (KOSDAQ: 339950): A 150% Return on Capital, a 15% Yield, and a Catch

The Korean microcap the screeners miss. A dominant little business, a mountain of idle cash, and a controlling parent. I read the filings so you can decide whether the discount is a trap or a gift.

Pull up IB Kimyoung (KOSDAQ: 339950, 아이비김영) on any screener and you see a dull, cheap Korean education stock: a mid-single-digit multiple, a 1.5% yield, revenue creeping up. You move on.

You would be wrong to. That 1.5% is a year stale; the real dividend is worth over 15% at ₩2,650 in July 2026. A third of the market value sits in cash. The core business earns more than 150% on the capital it uses. And still the stock is ignored, uncovered and cheap, because everyone who glances at it sees the same three things: a company controlled by its parent, a top line that looks like it is shrinking, and profits flattered by accounting. Trap, or gift? The answer is in the filings, so I read them.