Aju Press - Asia News Hub

Journalist

Ryu Yuna류윤아

ReporterFinancial Supervisory Service (FSS) & finance, capital markets, Southeast Asian affairs

Yuna Ryu covers finance, capital markets and Southeast Asian affairs.
She is drawn to the questions that numbers raise and the stories that data alone cannot answer.
Prior to journalism, she worked at Hyundai Motor Company and the Singapore Chamber of Commerce, focusing on business strategy and international affairs. She has also hosted diplomatic receptions and international conferences as an MC.

Ryu holds a master's degree in Media and Communication from Korea University, where her research focused on neuroscience-based studies of media effects. "Beyond every statistic is a human story waiting to be heard."

Latest by Ryu Yuna

FSS launches hiring drive for entry-level positions SEOUL, August 19 (AJP) - The Financial Supervisory Service (FSS) launched a hiring drive to recruit about 95 new employees for next year, the financial regulator said on Wednesday. It will accept applications for entry-level positions through Sept. 7 to recruit candidates who can better respond to emerging regulatory challenges. Applicants must select one of seven fields including business administration, law, economics, information technology (IT), statistics, financial engineering and consumer studies, aand take written exams in their chosen field, with exams scheduled for mid-September and October. The hiring is open to all applicants regardless of their educational background, age or academic major. But male applicants must have completed or been exempted from mandatory military service, while those currently serving are eligible if they can be discharged by the end of this year. To attract candidates with specialized expertise, the FSS will give preference to applicants with professional qualifications including certified public accountants, lawyers and actuaries. Those who pass the written exams on Sept. 12 and Oct. 17 will move on to two rounds of interviews in November and December, with a personality assessment included in the first round. After medical checkups and background checks, the final successful candidates are expected to be announced between late December and January. The FSS plans to provide detailed information about the hiring process on various social media platforms as well as on its website. AJP Takeaways • The Financial Supervisory Service (FSS) plans to hire 95 entry-level Grade 5 employees for 2027 across seven fields: business administration, law, economics, IT, statistics, financial engineering and consumer studies. • Applications are open from Aug. 19 through noon on Sept. 7, 2026, with no restrictions based on educational background, age or academic major. Each applicant may apply for only one field. • The Financial Supervisory Service expects to announce final results between late December 2026 and January 2027, following interviews, a medical examination and background screening. 2026-08-19 10:43:21
KOSPI wipes out early gains to close below 7,000 after weeklong rally SEOUL, August 18 (AJP) - South Korean stocks surrendered sharp early gains on Tuesday as rising global bond yields and institutional selling erased a semiconductor-led rally, while trading remained subdued. The benchmark KOSPI closed at 6,869.83 points, down 1.55 percent from the previous session, ending a five-session winning streak. The index opened at 7,127.77 and surged more than 3 percent to an intraday high of 7,216.62 before reversing course and falling as low as 6,788.78. Foreign investors remained net buyers for a fifth consecutive session, purchasing a net 91.4 billion won (US$64.7 million) of KOSPI shares, but that marked a sharp pullback from the morning, when their net purchases reached as much as 1.52 trillion won. They also bought a net 52.4 billion won in KOSPI 200 futures. Retail investors bought a net 741.5 billion won of KOSPI shares, while institutions sold a net 795.1 billion won, adding to the downward pressure later in the day. The strong start was driven by gains in U.S. chip shares during the Korean market holiday, which carried over to semiconductor heavyweights in Seoul. But the buying lost steam later in the day, and the index erased its gains to finish lower for the first time in six trading days. The sharp reversal came as trading remained thin. Although the KOSPI has recovered substantially from its late-July rout, market activity has continued to retreat from the elevated levels seen during the first-half rally. Average daily KOSPI turnover stood at 26.47 trillion won so far in August, down from 36.88 trillion won in July and the lowest monthly level this year, according to Korea Exchange data. The drop is particularly stark compared with May and June, when daily turnover averaged 50.22 trillion won and 50.35 trillion won, respectively. Activity this month is down about 47 percent from June. Trading volume has weakened even further. An average 332 million shares changed hands each day this month, also the lowest level this year and the weakest since August 2025, when the daily average stood at about 318 million shares. It is also well below the 2025 daily average of roughly 445 million shares. The divergence has left the KOSPI recovering without the broad participation that characterized its earlier rally. Foreign buying of Samsung Electronics and SK hynix has provided much of the recent support, while retail investors, a major source of liquidity during the first half, have remained cautious after heavy losses from the market plunge. The market initially shrugged off heightened Middle East tensions and a jump in international oil prices before giving up its early gains. Oil had surged after a 60-day negotiating period between the United States and Iran expired without a final agreement, while tensions intensified after U.S. President Donald Trump warned Oman, a mediator in the talks, of possible strikes. Pressure intensified as bond yields rose across major markets. Japanese long-term government bond yields climbed to their highest levels in about three decades, raising concerns that Japanese institutional investors could shift funds from U.S. Treasurys into higher-yielding domestic debt. Only two of the KOSPI's 10 largest stocks by market capitalization finished higher. Samsung Life Insurance gained 3.16 percent to 310,500 won, while SK hynix edged up 1.03 percent to 1,662,000 won. Samsung Electronics and SK hynix had risen to around 280,000 won and 1.79 million won, respectively, in early trading. Samsung Electronics reversed course to finish 2.19 percent lower at 268,500 won. Samsung Electro-Mechanics plunged 7.57 percent to 1,440,000 won, LG Energy Solution fell 5.01 percent to 351,000 won and Hyundai Motor lost 3.97 percent to 435,000 won. Samsung Electronics preferred shares dropped 3.73 percent to 188,300 won, SK Square declined 1.65 percent to 1,135,000 won and Samsung Biologics slipped 1.10 percent to 1,531,000 won. Analysts said the decline in trading partly reflects a normalization from unusually heated conditions earlier this year, though weaker participation by retail investors has also contributed to the slowdown. The junior KOSDAQ fared even worse, snapping its own five-session winning streak. The junior index closed at 834.20, down 3.52 percent. Retail investors bought a net 389.2 billion won and foreigners purchased 36.6 billion won, while institutions sold a net 416.4 billion won. Among major KOSDAQ stocks, semiconductor laser equipment maker EO Technics gained 2.48 percent to 414,000 won, while chip equipment maker Jusung Engineering rose 0.84 percent to 179,300 won. Losses, however, were widespread across battery, biotechnology and growth stocks. Battery materials holding company EcoPro plunged 6.94 percent to 87,100 won, while cathode materials maker EcoPro BM fell 6.51 percent to 109,100 won. Robot maker Rainbow Robotics dropped 6.19 percent to 470,000 won. Biotech firms ABL Bio and Alteogen lost 5.11 percent to 79,800 won and 5.10 percent to 298,000 won, respectively. Semiconductor component maker Leeno Industrial declined 4.24 percent to 67,800 won, while chip equipment maker Wonik IPS shed 3.60 percent to 112,400 won. The Korean won strengthened slightly against the U.S. dollar, trading at 1,412.30 won, compared with 1,418.30 won at the previous session's close on Aug. 14. Across Asia, Japan's Nikkei 225 fell 2.54 percent to 67,460.73, while China's Shanghai Composite edged up 0.19 percent to 3,990.30. Hong Kong's Hang Seng Index was little changed, rising 0.07 percent to 25,471.15. AJP Takeaways • South Korea's benchmark KOSPI closed at 6,869.83 on Aug. 18, 2026, down 1.55 percent, after surging above 7,200 earlier in the session as an initial semiconductor-led rally reversed. • Foreign investors remained net buyers of KOSPI shares for a fifth consecutive session, purchasing 91.4 billion won, but their net buying fell sharply from as much as 1.52 trillion won during morning trading. • KOSPI trading activity remained thin despite the recent market rebound, with average daily turnover at 26.47 trillion won in August through Aug. 18, about 47 percent below the 50.35 trillion won average recorded in June 2026. • Rising global bond yields weighed on sentiment, while heightened tensions between the United States and Iran and higher international oil prices added to market uncertainty. 2026-08-18 17:39:45
Vascular disease biotech firm makes strong KOSDAQ debut SEOUL, August 18 (AJP) - South Korean biotech firm Ingenia Therapeutics made its KOSDAQ debut on Tuesday. Its shares closed at 17,990 won (US$12.70) on their first day of trading, up 49.92 percent from the offering price of 12,000 won. The strong debut may have been supported by the firm's plans to develop more drugs and pursue additional global licensing deals. It develops treatments aimed at restoring damaged small blood vessels by modifying signals in the cells that form their inner walls, using technologies developed by the Korea Advanced Institute of Science and Technology (KAIST) and the Institute for Basic Science (IBS). One of its key technologies is TIE-body, an antibody platform that activates TIE2, a receptor that helps keep blood vessels stable. Ingenia Therapeutics is also developing LCIDEC, which combines this technology with a system designed to remove proteins that cause disease. Research and development continued after U.S. pharmaceutical giant Merck & Co., known as MSD outside the United States and Canada, acquired EyeBio for up to $3 billion. The drug, now called MK-8748, is in Phase 3 trial, the final stage of clinical trials before a drug can seek approval, for wet age-related macular degeneration, an eye disease that can cause vision loss in older adults. Another study is planned for diabetic macular edema, a condition that can cause retinal swelling in people with diabetes. The firm is also developing other drug candidates. IGT-303, a potential treatment for chronic kidney disease, is currently in a Phase 2a clinical trial in Australia, New Zealand and South Korea. It plans to seek a global licensing deal for the drug next year. It is also working to begin clinical trials of IGT-532, a potential treatment for cancers that form solid masses in organs or tissues. "The KOSDAQ listing marks a major turning point for us," CEO Han Sang-yeol said. "We will focus on developing more drug candidates and proving our technology in the global market." AJP Takeaways • Ingenia Therapeutics listed on South Korea's KOSDAQ market on Aug. 18, 2026, with its shares closing 49.92 percent above the 12,000 won offering price at 17,990 won. • The South Korean biotech company develops treatments aimed at restoring damaged small blood vessels, based on technologies from the Korea Advanced Institute of Science and Technology (KAIST) and the Institute for Basic Science (IBS). • Its retinal disease drug IGT-427, licensed to EyeBio in 2022 in a deal worth more than 1 trillion won, is now being developed by Merck & Co. as MK-8748 and is in Phase 3 testing for wet age-related macular degeneration. 2026-08-18 16:35:51
Global regulators to share climate policies at Seoul conference next month SEOUL, August 18 (AJP) - Industry experts and regulators from global financial institutions will gather for a conference in Seoul hosted by the Financial Supervisory Service (FSS) next month, the South Korea's financial watchdog said on Tuesday. Under the theme "Future Climate Finance in the Era of Green Transition," the conference will be held at Ewha Womans University in western Seoul on Sept. 2. to discuss how the financial sector can support efforts to cut carbon emissions and address climate change risks. Financial authorities from overseas will share policies from their markets, while regulators and financial companies will present examples of how they manage climate risks. The FSS will also outline plans to assess how different climate scenarios could affect the financial sector. The FSS said the conference is intended to help financial companies better prepare for those risks while supporting the broader economy's move toward lower emissions. Speakers will include officials from Japan's Financial Services Agency, the Hong Kong Monetary Authority and Britain's Financial Conduct Authority, who will present their respective approaches to helping companies reduce emissions and financing the transition. An executive from Australian bank ANZ will discuss how banks can help finance efforts to reduce carbon emissions. After the conference, an "A.I. Challenge" competition and a recruitment session will be held to help young people explore new career opportunities in the financial sector including green finance. It will invite participants to present ideas for new financial services using artificial intelligence, with financial companies providing feedback on whether the proposals could work in practice. The best-performing teams will receive scholarships as well as benefits when applying for jobs. About 15 major financial companies will also take part in the session, explaining what they look for in applicants and offering practical advice on entering the industry. AJP Takeaways • The Financial Supervisory Service (FSS) and Ewha Womans University will hold an international conference in Seoul on Sept. 2, 2026, focusing on how the financial sector can address climate risks and support efforts to reduce carbon emissions. • Officials from the Japan Financial Services Agency, Hong Kong Monetary Authority and Financial Conduct Authority in Britain will share policies and approaches to managing climate risks and helping companies lower emissions. • The Financial Supervisory Service will outline plans to examine how different climate scenarios could affect South Korea's financial sector. 2026-08-18 15:49:10
South Koreans turn to bank savings amid stock market swings SEOUL, August 18 (AJP) - South Koreans are moving more of their money into bank deposits as stocks tumble and higher interest rates make saving more attractive, prompting major banks to compete for customers with promotional offers. Major banks are competing for customers with promotional offers, with Shinhan, NH NongHyup, Hana and Woori offering higher interest rates on savings accounts. Woori Bank recently drew customers with a limited-time deposit offer capped at 1 trillion won (US$700 million), which sold out in just 10 days, attracting an average of roughly 100 billion won a day before hitting its sales limit on Aug. 12. The bank then raised the cap by another 1 trillion won and made it available through the end of this month. Launched on Aug. 3 to mark Liberation Day and the 150th anniversary of independence fighter Kim Koo's birth, the offer allowed customers to park up to 100 million won per person for six or 12 months at initial annual interest rates ranging from 3.1 percent to 3.4 percent. Shinhan Bank has also rolled out similar promotions, while NH NongHyup Bank is offering interest rates of up to 8.15 percent a year on an account limited to 10,000 customers. Hana Bank is providing rates of up to 7 percent available to 50,000 customers. These promotions reflect a broader influx of cash into the country's banks. The amount customers have put into savings accounts at the country's five major lenders stood at 999.23 trillion won as of last week, up 14.29 trillion won since the start of this month. By contrast, money held in brokerage accounts that is available for investment stood at 100.07 trillion won ($70 billion) as of Aug. 13, according to the latest data from the Korea Financial Investment Association. That was down 39.62 trillion won, or 28.4 percent, from a record 139.69 trillion won on June 4. Rising interest rates are also driving this shift. The Bank of Korea recently raised its benchmark rate for the first time in three and a half years, giving banks more room to offer higher returns. At the same time, a recent stock market selloff has made investors more cautious, reducing their appetite for risk in search of higher returns. AJP Takeaways: • Woori Bank's 1 trillion won ($700 million) limited-time offer reached its sales cap on Aug. 12, 2026, just 10 days after its Aug. 3 launch, prompting the bank to add another 1 trillion won. • Money placed in fixed-period savings accounts at South Korea's five major lenders reached 999.23 trillion won as of Aug. 13, 2026, up 14.29 trillion won from the start of the month. • Shinhan Bank, NH NongHyup Bank and Hana Bank are offering promotional savings rates as high as 8.15 percent as competition for customers' cash intensifies. 2026-08-18 15:03:52
SK hynix weighs options for California-based subsidiary amid rumors of US listing SEOUL, August 18 (AJP) - SK hynix appears to be considering various options to strengthen its U.S. subsidiary Solidigm amid growing rumors of a potential U.S. listing. According to a corporate disclosure to the Korea Exchange last week, SK hynix said it had been exploring ways to strengthen its California-based semiconductor subsidiary's competitiveness including a possible U.S. listing. However, an SK hynix spokesperson declined to provide additional details, telling AJP that "no specific decision has been made." The possibility has divided the market, with supporters seeing it as a potential way to raise billions of dollars for future investment, while critics warn that bringing in outside investors could reduce existing shareholders' share of Solidigm's future profits. Its shares plunged 10.37 percent last Thursday, a day after the corporate disclosure. The stock has since rebounded, trading 6.81 percent higher at 1,757,000 won as of early Tuesday morning. At the center of the debate is the possibility of pre-IPO fundraising ahead of a U.S. listing. Market speculation has focused on Solidigm raising up to 10 trillion won (US$7 billion) from private investors at a valuation of around 50 trillion won. A pre-IPO involves selling shares to private investors before a company goes public. It remains to be seen whether SK hynix will make any decision before Sept. 4, when it is scheduled to release another corporate disclosure. Who gets the upside? Much of the concern is about the timing. SK hynix shareholders endured years of losses from the NAND business acquired from Intel, but Solidigm has now returned to profitability. Critics argue that a pre-IPO followed by a separate listing could allow new investors to take a stake just as the business enters a stronger period. If outside investors acquire shares through a pre-IPO and later public offering, SK hynix's ownership of Solidigm would decline, leaving existing shareholders with a smaller share of the subsidiary's future gains. There is also concern over how Solidigm's profits and cash would reach SK hynix shareholders after a separate listing. Money generated by Solidigm would first remain with the U.S. subsidiary before flowing back to the South Korean parent and its shareholders. The Korea Corporate Governance Forum, a nonprofit group that works to improve corporate governance and protect shareholder interests has taken a stronger stance, criticizing a potential Solidigm IPO for making SK's ownership structure even more complex by adding another publicly traded company under an already listed parent. The forum has called for discussions on the listing to be halted. Critics also question the need for outside funding. The company posted record second-quarter earnings and recently completed a major fundraising, leaving it with ample cash. That has raised questions over why new investors need to be brought into Solidigm at this point. Others, however, see the potential transaction as a way to raise substantial funds for future investment. Solidigm's main revenue source is high-performance enterprise solid-state drives, or eSSDs, used in servers and data centers. The business still relies heavily on SK hynix's design and production technology, supporting the view that selling part of the subsidiary would have only a limited impact on the value of its parent. The potential amount is significant. Mirae Asset Securities estimates that selling part of the company's stake in Solidigm could give the chipmaker about $15 billion in investment capacity in the U.S. The brokerage said such a deal could help recover some of the money spent on the Intel NAND acquisition while securing funds for further investment. For now, the company has yet to decide how it will move forward. AJP Takeaways: • SK hynix said on Aug. 18, 2026, that no decision had been made on plans involving its U.S. subsidiary Solidigm, following an Aug. 5 disclosure that it was reviewing options to strengthen the company's competitiveness. • Market discussions have centered on Solidigm potentially raising up to 10 trillion won ($7 billion) in a pre-IPO at a valuation of around 50 trillion won before a possible U.S. listing. • Critics warn that bringing outside investors into Solidigm after the business returned to profitability could reduce SK hynix's ownership and leave existing shareholders with a smaller share of its future gains. • Supporters argue that selling part of Solidigm could provide substantial funding for future investment. Mirae Asset Securities estimates the transaction could give SK hynix about $15 billion in investment capacity in the United States. 2026-08-18 11:06:51
Chey divorce returns to court, buying time on record payout SEOUL, August 15 (AJP) —South Korea's biggest divorce settlement is heading back to the Supreme Court, giving SK Group Chairman Chey Tae-won more time to raise the 944 billion won ($669 million) in cash he has been ordered to pay his former wife while deferring immediate pressure on his corporate holdings. Chey filed another appeal Friday against the Seoul High Court's property-division ruling in his divorce from Roh Soh-yeong, director of Art Center Nabi, extending a legal battle that began in 2017 and delaying the point at which the record settlement becomes final. The appeal also holds off the 5 percent annual statutory interest that would begin accruing once the judgment becomes final and remains unpaid — about 47.2 billion won a year, or roughly 129 million won a day on the full award. For Chey and SK, the extra time matters. The court ordered the settlement to be paid in cash, allowing him to retain the SK Inc. shares underpinning his influence over the conglomerate, but leaving him to find nearly 1 trillion won without weakening that control. From presidential family to corporate dynasty Chey and Roh married at the presidential Blue House in September 1988, during the first year in office of Roh's father, Roh Tae-woo. The marriage joined one of South Korea's leading corporate families with its presidential household and lasted through decades of SK Group's expansion, financial crises and changes in the conglomerate's ownership structure. It publicly unraveled in 2015, when Chey disclosed in a three-page letter that he had fathered a daughter with another woman and said he no longer believed the marriage could be saved. Chey sought divorce mediation in 2017. After that failed, the case moved to court, and Roh filed a countersuit in 2019 seeking 300 million won in damages and about 6.48 million SK shares as part of the property division. The first ruling went overwhelmingly in Chey's favor. In December 2022, the Seoul Family Court ordered him to pay Roh 66.5 billion won in property division and 100 million won in damages, concluding that his SK shares were separate property rather than assets jointly accumulated during the marriage. Roh appealed, calling the award "a denial of women's commitment to the household." In May 2024, the Seoul High Court raised the property award to about 1.38 trillion won and damages to 2 billion won, finding that Roh had contributed to the formation, maintenance and growth of the marital estate, including Chey's SK Inc. holdings. At the heart of that decision was 30 billion won linked to former President Roh Tae-woo. Roh's lawyers presented a handwritten note preserved by her mother that included Sunkyong — SK's former name — alongside "30 billion won," arguing that the money had flowed to Chey's family and helped expand the conglomerate. Chey's side denied that SK received such support. The Supreme Court overturned the property-division portion of the ruling last October, finding that even if the money had been transferred, funds derived from illegal activity could not be recognized as Roh's legally protected contribution to the marital estate. The court left the divorce and 2 billion won damages award intact. On remand, the Seoul High Court excluded the disputed 30 billion won but again ruled that Chey's SK Inc. shares were subject to division, rejecting his argument that they constituted separate property acquired through inheritance or gifts. The court awarded Roh one-third of the couple's property and Chey two-thirds, producing the 944 billion won cash award — still more than 14 times the 66.5 billion won awarded at the first trial. The case has unfolded alongside a dramatic rise in the value of Chey's corporate holdings. SK hynix has emerged as one of the biggest beneficiaries of the global artificial-intelligence investment boom through its high-bandwidth memory chips used alongside AI processors, increasing investor attention on Chey's stake in SK Inc., the holding company through which he exercises influence over the group. The remand court kept April 16, 2024 — when arguments in the earlier appellate proceeding ended — as the valuation date for Chey's SK Inc. shares, setting their value at 160,000 won each. It rejected Roh's argument that the shares should instead be valued at the end of the remand proceedings, when the stock was trading above 800,000 won. The court nevertheless took the subsequent rise in share prices into consideration when setting Roh's share of the marital estate at one-third. Chey was allowed to retain his SK shares and satisfy the award in cash, avoiding a direct transfer of stock that could affect his grip on the conglomerate. That still leaves the question of how Chey would finance a payment approaching 1 trillion won if the award survives the second Supreme Court review. His marriage to Roh is legally over. The price of ending it is now back before the Supreme Court. AJP Takeaways: Chey appealed the 944 billion won property-division award, sending the financial portion of his divorce case back to the Supreme Court after nine years of litigation. The divorce itself is already final. Only the division of marital assets remains contested; a separate 2 billion won damages award has also been finalized. Corporate-control concerns remain central: The cash award allows Chey to retain his SK Inc. shares, but financing the payment could still draw scrutiny because those holdings underpin his influence over SK Group. 2026-08-15 09:27:47
Is the Seoul stock party over or just cooling down? SEOUL, August 14 (AJP) — South Korea's KOSPI has rebounded after a heavy crash in July. But the crazy roller-coaster ride has shifted to a duller plateau, with the main drivers quietly taking a back seat. The benchmark index flirted with 7,000 Friday, rebounding more than 30 percent from its late-July intraday low of 5,262.77. Yet trading activity and cash on standby remain well below the levels seen during the market frenzy in June. The ebb is evident. Investor deposits — cash held in brokerage accounts but not yet invested — stood just below 100 trillion won this week, after falling to 97.93 trillion won on Aug. 11, the lowest level in about six months and sharply below the nearly 140 trillion won reached in June. KOSPI turnover reached 26.73 trillion won Friday, around 40 percent of the 67.26 trillion won traded at the June 19 peak. The more subdued mood is also visible among retail investors. SK hynix closed 3.26 percent higher at 1,645,000 won Friday, but remained about 45 percent below its June 25 intraday peak of 2,987,000 won. Samsung Electronics also gained 1.87 percent higher at 273,000 won Friday after jumping 4.89 percent the previous day, but the stock remained about 27 percent below its June 19 intraday peak of 374,500 won. The online stock community sounded more skeptical than euphoric. “Is UBS covering its shorts?” one investor asked at 3:04 p.m., referring to trades routed through the Swiss investment bank's brokerage operation. Another pointed to “huge sell orders” appearing even as the stock advanced. The comments offer a glimpse of how sentiment has changed since the earlier surge. The herd is no longer simply chasing prices. Investors are becoming more inquisitive and selective. The bull market this time — although less spectacular than in June — has also become broader. Friday's gains spread across the market, led by wireless telecommunications services, up 8.07 percent, automobiles at 5.94 percent, oil and gas at 5.74 percent and auto parts at 4.85 percent, according to Naver Finance data. Of 155 auto-parts stocks, 96 advanced and 44 declined, while 56 of 92 food stocks gained. IT services rose 3.04 percent, with 64 stocks advancing against 50 decliners. The gains may be broadening, but the speculative fervor that defined the June run-up has yet to return. Less money chasing the rebound The contrast is clearest in turnover. KOSPI's average daily trading value reached 50.35 trillion won in June, when an artificial intelligence-driven rush into Samsung Electronics, SK hynix and leveraged products pushed activity to extraordinary levels. It fell to 36.88 trillion won in July and declined further to 25.90 trillion won between Aug. 3 and 14, according to AJP calculations based on Korea Exchange data. That was down 48.6 percent from the June average and 29.8 percent from July. Trading volume followed the same direction. An average 322.9 million shares changed hands per day between Aug. 3 and 14, compared with roughly 490 million in June. The numbers mark a clear break from June, when rising prices were accompanied by heavy turnover, leverage and a swelling pool of cash available for investment. Yoon Jae-hong, an analyst at Mirae Asset Securities, said the divergence reflects normalization after the extreme trading conditions earlier this summer rather than a wholesale retreat from the market. “Normalization is underway, and volatility is also coming down,” he said. “Money is gradually moving into other ETFs as well.” For now, however, investors appear reluctant to chase the rebound. “It doesn't look like the market is in a phase where investors are actively buying,” Yoon said. “They appear to be staying on the sidelines and watching for now.” He added that a further rise in share prices could eventually draw retail investors back into the market. Money moves to the sidelines Investor deposits offer another measure of how much the market has cooled. They peaked at 139.69 trillion won on June 4, according to the Korea Financial Investment Association, before falling to 97.93 trillion won on Aug. 11 — a decline of nearly 42 trillion won, or about 30 percent. Deposits edged back to 99.98 trillion won on Aug. 12 but remained nearly 40 trillion won below the June peak. The decline does not necessarily mean investors have abandoned Korean equities. Some cash may already have been deployed or shifted elsewhere. Combined with weaker turnover, however, it points to a market where investors remain interested but are less willing to commit fresh money aggressively. Risk appetite has not disappeared. Margin-financing balances climbed back to 30.42 trillion won on Aug. 12 after falling to 27.40 trillion won on Aug. 4, suggesting that speculative appetite survived the July washout even as the broader pool of liquidity shrank. Retail investors buy dips, sell rallies That more cautious approach becomes clearer in the way individuals are trading. Between Aug. 3 and 14, retail investors were net buyers of 2.14 trillion won of KOSPI-listed securities, while foreign investors bought a net 208 billion won and institutions sold 2.53 trillion won, according to KRX data. But retail buying was concentrated heavily on the market's worst days. Individuals bought 4.65 trillion won when the KOSPI plunged 5.12 percent on Aug. 3 and another 3.34 trillion won when it dropped 4.58 percent on Aug. 6. When the market rallied, they sold. Retail investors unloaded 3.19 trillion won as the KOSPI jumped 3.68 percent Wednesday and another 2.73 trillion won Thursday as the index gained 3.56 percent. Foreign investors bought 2.12 trillion won Thursday, while institutions added 681.2 billion won. The pattern continued Friday as the KOSPI rose another 2.41 percent. Retail investors sold about 1.89 trillion won while foreigners bought roughly 3.05 trillion won. Instead of chasing a rising market as they did during the earlier frenzy, individuals have increasingly bought sharp declines and sold into rebounds. They have not left the market. They have become more tactical. Thinner, but calmer The pullback in speculative activity has also brought one potentially stabilizing effect: lower volatility. The VKOSPI, which measures expected volatility in the KOSPI 200, stood at 55.26 Friday, sharply below its recent peak of 96.94, according to the KRX. The decline has coincided with tighter rules on single-stock leveraged exchange-traded funds and a sharp contraction in trading of those products. Yoon said the reduction in single-stock leveraged trading could make another bout of extreme volatility less likely. “It will be difficult to see the kind of volatility we saw before,” he said. “Trading in single-stock leveraged products has fallen significantly, making the kind of large-scale rebalancing flows we saw earlier much less likely.” With leveraged flows exerting less influence, the KOSPI may be less vulnerable to the mechanical buying and selling that magnified swings earlier this summer. The calmer environment, however, does not settle the question of what will drive the index higher from here. One view is that the chip-dominated phase of the rally is giving way to a broader advance as money rotates into telecom, autos, energy and other sectors. Another is that the KOSPI's next sustained rise will still depend heavily on Samsung Electronics and SK hynix, whose outsized weight gives them enormous influence over the benchmark. The two chipmakers were central to the KOSPI's extraordinary swings this year, with their combined market-cap weighting exceeding half of the index around the end of May. Yoon said Samsung Electronics may have an edge over SK hynix in the next phase after giving investors a clearer message on shareholder returns at its latest earnings announcement. “Samsung Electronics gave a clearer message on shareholder returns,” he said. “That could give it more room to rise than SK hynix.” The question now is whether broader sector rotation can carry the KOSPI higher without recreating June's semiconductor frenzy, or whether another sustained advance will ultimately require its chip heavyweights to take the lead again. For now, the evidence points less to investors abandoning Korean stocks than to the fading of the indiscriminate risk-taking that powered the first-half surge. The party has not necessarily ended. But this time, fewer people are on the floor — and those who remain are choosing their steps more carefully. 2026-08-14 17:14:11
More Koreans see themselves as better off than Japanese SEOUL, August 14 (AJP) - South Koreans increasingly see themselves having a higher standard of living than people in Japan, a survey released ahead of Liberation Day showed. According to a survey released Thursday by online polling platform Now & Survey, 37.2 percent held that view, compared with 23.3 percent who said people in Japan had a higher standard of living. The poll, conducted by South Korean IT company Elimnet Inc.’s survey platform, questioned 1,007 adults nationwide from Aug. 7 to 10 ahead of the country's 81st Liberation Day on Saturday, which marks Korea's liberation from Japanese colonial rule in 1945. The survey had a margin of error of plus or minus 3.1 percentage points at a 95 percent confidence level. Perceptions of the two countries' overall economic strength were much closer. Some 33.5 percent said Korea had the stronger economy, while 30.0 percent chose Japan. The largest group, 36.5 percent, viewed the two economies as roughly equal. The gap widened sharply when respondents looked a decade ahead. More than half, or 51.9 percent, expected Korea to have a stronger economy than Japan in 10 years, compared with 14.0 percent who expected Japan to be stronger. Views also differed by age. Respondents aged 60 and older were the only age group more likely to see Japan as the stronger economy, pointing to a generational divide in how the two countries are perceived. Confidence in Korea was more pronounced when respondents assessed individual industries. Respondents were asked to compare competitiveness in 13 sectors on a five-point scale, with 1 indicating a strong Japanese advantage and 5 a strong Korean advantage. Korea was rated as more competitive in nine of the 13 sectors. Semiconductors ranked highest at 4.25, followed by cultural content at 4.07 and shipbuilding and marine industries at 4.01. Artificial intelligence and software scored 3.73, followed by rechargeable batteries at 3.72 and electronics and home appliances at 3.71. Defense came in at 3.59, while biotechnology and healthcare scored 3.26 and automobiles and mobility 3.24. The confidence was less clear in industries more dependent on core technologies. Advanced materials, components and manufacturing equipment and precision machinery and robotics both scored 3.17, while aerospace came in at 3.09. With scores only slightly above the neutral midpoint of 3, respondents viewed the two countries as broadly comparable in these fields. Basic science and core technologies ranked last at 2.69 and were the only category in which Japan was seen as having an advantage. The score was 1.56 points below that of semiconductors, the highest-ranked sector, showing a contrast between confidence in the country’s major industries and Japan's perceived strength in the fundamental technologies behind them. Despite differences in how the two economies were perceived, respondents broadly supported closer economic ties. 70 percent agreed that Korea should expand economic cooperation with Japan to sustain its long-term growth, while just 4.2 percent opposed it. The survey also asked respondents about Korea's achievements since liberation. Economic growth ranked first at 49.4 percent, followed by the global rise of K-content at 31.0 percent. Industrialization and export growth came next at 29.7 percent, followed by the development of democracy at 27.0 percent. AJP Takeaways • A Now & Survey poll conducted from Aug. 7 to 10, 2026, found that 37.2 percent of South Korean adults viewed living standards in South Korea as higher than in Japan, compared with 23.3 percent who viewed Japan's as higher. • On overall economic strength, 36.5 percent viewed South Korea and Japan as roughly equal, while 33.5 percent rated South Korea higher and 30.0 percent rated Japan higher. • Looking 10 years ahead, 51.9 percent expected South Korea to have a stronger economy than Japan, compared with 14.0 percent who expected Japan to be stronger. 2026-08-14 14:40:30
KOSPI recovers above 6,800 as foreign buying fuels broader tech rally SEOUL, August 13 (AJP) - South Korean stocks jumped more than 3 percent on Thursday as foreign investors returned to the market, extending the rally for a fourth straight session, with an artificial intelligence (AI)-driven rebound spreading beyond Samsung Electronics and SK hynix to chip equipment makers and other technology shares. The benchmark KOSPI closed at 6,813.34, up 234.30 points or 3.56 percent from the previous session. The index climbed as high as 6,895.63 during the day before paring some gains, but recovered to close above 6,800 for the first time in about three weeks. The rally spread beyond the country's two biggest chipmakers, though most of the gains still came from tech stocks and companies linked to the semiconductor supply chain. Electronic equipment and devices led KOSPI with a 9.28 percent gain, while semiconductors and semiconductor equipment rose 5.15 percent. Venture investment firms gained 5.91 percent, followed by aerospace and defense at 3.30 percent and wireless communications services at 2.55 percent. Among major technology stocks, Samsung Electronics closed 4.89 percent higher at 268,000 won, while SK hynix gained 5.92 percent to 1,593,000 won. SK Square jumped 9.08 percent to 1,117,000 won. Electronic components maker Samsung Electro-Mechanics surged 12.58 percent to 1,503,000 won after global investment bank Morgan Stanley named it its top pick among Korean technology stocks, citing growing demand and tighter supplies of multilayer ceramic capacitors or MLCCs, tiny components that help regulate power in AI servers. The gains across chipmakers, equipment producers and component suppliers showed the rally extending further into the semiconductor and AI hardware supply chain. But the buying remained largely driven by foreign and institutional investors rather than retail investors. Foreign investors bought a net 2.11 trillion won (US$1.49 billion) of KOSPI shares, while institutions added 681.7 billion won. Retail investors sold a net 2.74 trillion won, taking the other side of Thursday's rally. The return of foreign buying came amid improving global market sentiment. AI infrastructure stocks rallied sharply in the U.S. the previous day, with CoreWeave surging 19.28 percent and Super Micro Computer jumping 19.02 percent amid continued optimism over demand for AI computing infrastructure. Micron Technology gained 4.92 percent, helping lift the Philadelphia Semiconductor Index 2.49 percent. U.S. inflation data also helped support risk sentiment. Consumer prices rose 3.4 percent in July from a year earlier, slowing from 3.5 percent in June, while core inflation eased to 2.5 percent from 2.6 percent. The rally was much weaker on the KOSDAQ, where investor flows told a different story. The junior index closed just 0.29 percent higher at 861.37 after swinging between 853.09 and 870.96 during the session. Retail investors led the buying, purchasing a net 257.1 billion won, while foreign and institutional investors sold 136.3 billion won and 115.8 billion won, respectively. The modest gain came as the KOSDAQ faced tighter regulations, with dozens of companies placed under watch for failing to meet stricter minimum market capitalization requirements. But the tepid gain did little to dampen semiconductor-related stocks, which remained among the stronger performers. Chip equipment maker Jusung Engineering climbed 3.05 percent to 179,300 won, while Wonik IPS jumped 7.62 percent to 120,000 won. Robot maker Rainbow Robotics gained 1.43 percent to 497,000 won. The Korean won weakened slightly despite the stock rally, trading at 1,423.50 won against the U.S. dollar, compared with 1,415.70 won in the previous session. Other major Asian markets also made similar moves, with Japan's Nikkei 225 rising 1.16 percent to 68,308.59, supported by chip stocks and a stronger corporate earnings outlook as softer U.S. inflation reduced expectations of a Federal Reserve rate hike in September. China's Shanghai Composite fell 0.50 percent to 3,926.96, while Hong Kong's Hang Seng Index slipped 0.25 percent to 25,377.03. AJP Takeaways: - South Korea's benchmark KOSPI closed 3.56 percent higher at 6,813.34 on Aug. 13, 2026, reclaiming the 6,800 level as foreign investors returned to the market. - Foreign investors bought a net 2.11 trillion won ($1.49 billion) of KOSPI shares, while institutional investors purchased 681.7 billion won and retail investors sold 2.74 trillion won. - The rally spread beyond Samsung Electronics and SK hynix into the broader semiconductor and AI hardware supply chain, with Samsung Electronics rising 4.89 percent, SK hynix 5.92 percent and Samsung Electro-Mechanics 12.58 percent. - Samsung Electro-Mechanics surged after global investment bank Morgan Stanley named it its top pick among Korean technology stocks, citing growing demand and tighter supplies of multilayer ceramic capacitors used in AI servers. - South Korea's KOSDAQ gained a more modest 0.29 percent to 861.37 on Aug. 13, 2026, with retail investors buying a net 257.1 billion won as foreign and institutional investors remained net sellers. - South Korean technology shares were supported by gains in U.S. AI infrastructure stocks and softer U.S. inflation data, with July 2026 consumer prices rising 3.4 percent year on year, down from 3.5 percent in June. 2026-08-13 17:42:15