Journalist

Yang Bo-yeon
  • KOSPI Jumps More Than 3% as Foreign and Institutional Buying Lifts Seoul Stocks
    KOSPI Jumps More Than 3% as Foreign and Institutional Buying Lifts Seoul Stocks South Korean stocks surged in intraday trading Monday, led by semiconductor shares, with the benchmark KOSPI rising more than 3% and setting a fresh record high.  As of 11:02 a.m., the KOSPI was up 242.98 points, or 3.68%, at 6,841.85, according to the Korea Exchange. The index opened up 184.06 points, or 2.79%, at 6,782.93 and extended gains on foreign buying. In the main market, foreigners and institutions were net buyers of 2.3264 trillion won and 1.2675 trillion won, respectively, while individuals were net sellers of 3.4957 trillion won. Among top market-cap stocks, Samsung Electronics rose 3.63%, SK hynix gained 8.94% and SK Square jumped 12.72%. Hyundai Motor added 1.51%, LG Energy Solution rose 2.28%, Hanwha Aerospace gained 3.11% and HD Hyundai Heavy Industries advanced 1.75%. Doosan Enerbility slipped 0.31% and Samsung Biologics fell 0.34%. The tech-heavy KOSDAQ was up 24.57 points, or 2.06%, at 1,216.92 at the same time. It opened up 19.93 points, or 1.67%, at 1,212.28. In the KOSDAQ market, foreigners and institutions were net buyers of 602.7 billion won and 10.3 billion won, respectively, while individuals were net sellers of 605.9 billion won. Among leading KOSDAQ shares, EcoPro rose 2.22%, EcoPro BM gained 4.37%, Alteogen added 3.80%, Rainbow Robotics rose 3.46%, Kolon TissueGene gained 2.45% and HLB advanced 2.14%. Samchundang Pharm fell 2.41%, Lino Industrial slipped 1.34% and ABL Bio lost 0.59%.* This article has been translated by AI. 2026-05-04 11:12:06
  • Krafton shares jump nearly 14% on plan to form autonomous driving venture with Socar
    Krafton shares jump nearly 14% on plan to form autonomous driving venture with Socar Krafton shares rose more than 13% in early trading on news it will work with Socar to commercialize autonomous driving services. According to the Korea Exchange, Krafton was trading at 302,000 won as of 10:01 a.m. on the 4th, up 37,000 won, or 13.96%, from the previous session. Krafton said on April 30 that it will participate in Socar’s plan to establish a 150 billion won autonomous driving company, Apex Mobility. The new entity is expected to be set up this month. Krafton will first invest 65 billion won by joining Socar’s paid-in capital increase. Once the offering is completed, Krafton will become a major shareholder of Socar. Krafton also plans a separate investment in the new company. Socar is accumulating vehicle-related data through a fleet management system, or FMS, installed in its shared cars, and is described as holding the largest volume of driving data in South Korea. Separately, Krafton’s first-quarter results, previously announced by the company, were tallied as showing a sharp improvement. On the 4th, Korea Investment & Securities, NH Investment & Securities, Hanwha Investment & Securities and Eugene Investment & Securities raised their target price for Krafton to 400,000 won, while Hana Securities set its target at 460,000 won.* This article has been translated by AI. 2026-05-04 10:12:15
  • SK Hynix Hits Record High as Chip Stocks Rally; Samsung Electronics Gains
    SK Hynix Hits Record High as Chip Stocks Rally; Samsung Electronics Gains SK Hynix shares hit a record high on the 4th, as buying interest grew on strong results from global big tech companies including Apple and expanded investment in AI production facilities. According to the Korea Exchange, SK Hynix was trading at 1,353,000 won as of 9:47 a.m., up 67,000 won (5.21%) from the previous session. The stock rose as high as 1,364,000 won during the session, setting an all-time high. Samsung Electronics was up 4,000 won (1.81%) at 224,500 won at the same time. The gains appeared to reflect, all at once, a tech-led rally in New York that continued while South Korea’s market was closed for the Labor Day holiday. The Philadelphia Semiconductor Index rose 2.26% on the 30th of last month and 0.87% on the 1st of this month. Apple posted net profit on the 30th (local time) that beat market expectations. Five of the so-called Magnificent Seven companies reported earnings, and all topped forecasts. Big tech companies also raised their annual AI production-facility investment plans. That helped lift expectations for a memory upcycle, spreading optimism across the sector.* This article has been translated by AI. 2026-05-04 09:58:59
  • South Korea’s Kospi Jumps Past 6,700 at Open; Kosdaq Up More Than 2%
    South Korea’s Kospi Jumps Past 6,700 at Open; Kosdaq Up More Than 2% South Korean stocks opened sharply higher on the 4th, with the Kospi breaking above 6,700 and the Kosdaq rising more than 2%. According to the Korea Exchange, the Kospi was at 6,765.11 as of 9:08 a.m., up 166.24 points, or 2.52%, from the previous session. The index opened at 6,782.93, up 184.06 points, or 2.79%. Han Ji-young, a researcher at Kiwoom Securities, said upside drivers remain, including the possibility of upward revisions to the Kospi earnings consensus and the chance of a deal in U.S.-Iran negotiations. “It is appropriate to set a base scenario in which the Kospi continues to push to higher highs this week as well,” Han said. In the main board market, retail investors were net sellers of 888.4 billion won, while foreign investors and institutions were net buyers of 549.2 billion won and 363.1 billion won, respectively. Among top market-cap stocks, Samsung Electronics rose 2.72%, SK hynix gained 4.28%, SK Square jumped 8.44%, Hyundai Motor added 1.22%, LG Energy Solution rose 0.98%, Hanwha Aerospace gained 3.32% and HD Hyundai Heavy Industries rose 0.88%. Doosan Enerbility fell 0.24% and Samsung Biologics slipped 0.14%. SK hynix hit a fresh record high, trading at 1,348,000 won as of 9:12 a.m., up 62,000 won, or 4.82%, from the previous session. At the same time, the Kosdaq was at 1,216.91, up 24.56 points, or 2.06%. It opened at 1,212.28, up 19.93 points, or 1.67%, and extended gains. In the Kosdaq market, retail investors and institutions were net sellers of 74.5 billion won and 33.0 billion won, while foreign investors were net buyers of 109.3 billion won. Among top Kosdaq stocks, EcoPro rose 2.81%, EcoPro BM gained 4.13%, Alteogen added 2.44%, Rainbow Robotics rose 2.86%, Samchundang Pharm gained 0.96%, Kolon TissueGene rose 1.76% and HLB added 1.81%. Lino Industrial fell 1.59%.* This article has been translated by AI. 2026-05-04 09:15:15
  • Shinhan Investment Raises DL E&C Target Price to 130,000 Won, Keeps Buy Rating
    Shinhan Investment Raises DL E&C Target Price to 130,000 Won, Keeps Buy Rating Shinhan Investment said May 4 it raised its target price for DL E&C to 130,000 won from 120,000 won, citing profitability that outpaces peers and higher earnings estimates. It maintained its “buy” rating. Kim Seon-mi, an analyst at Shinhan Investment, said DL E&C’s first-quarter operating profit “far exceeded” the market consensus as profitability improved in its housing and plant businesses, despite a selective order-taking strategy. “A shift toward profitability over scale has been proven in results,” she said. Kim said the company posted strong margins without one-off gains, including a 20% gross profit margin in housing and 9.8% in the plant business, above the industry average. She added that earnings capacity is strengthening as DL Construction stabilizes. She said that despite an uncertain external environment, the company’s order backlog is high quality, improving visibility for future results, and that Shinhan raised its operating profit forecasts for 2026 and 2027. Kim said expanded orders centered on power infrastructure could support results in the near term, while new growth drivers such as small modular reactors, or SMRs, could add momentum over the medium to long term. She said upgraded earnings estimates should ease valuation pressure and help support the stock’s downside.* This article has been translated by AI. 2026-05-04 08:40:56
  • Korea Market Focus: Semiconductor Leveraged ETFs Surge, Up as Much as 14-Fold in a Year
    Korea Market Focus: Semiconductor Leveraged ETFs Surge, Up as Much as 14-Fold in a Year ◆Aju Economy Top Stories ▷Semiconductor leveraged ETFs surge; up as much as 14-fold in a year -Korea’s exchange-traded fund market has been led over the past year by semiconductor leveraged products, with some posting returns of more than 1,000%. -Major products, including TIGER 200IT Leverage, track twice the daily move of their underlying indexes and have jumped on expectations for improving semiconductor conditions. -The gains have been supported by rising semiconductor-related indexes as expectations grew for stronger earnings, driven by expanding global AI investment and higher data-center demand. -Leveraged ETFs are designed to deliver 2x daily returns. In rising markets, compounding can amplify gains, but in volatile trading, losses can also widen quickly. -Securities firms have kept a positive view on the semiconductor cycle but said investors should be cautious, citing signs the cycle may be entering a later phase and volatility could increase. ◆Key Reports ▷Korea IPO Market - April IPO review and outlook from May -In April 2026, the IPO market was weak as SPAC listings increased while only two operating companies went public, reflecting a seasonal slowdown. -There were seven listings, slightly above average, but most were on KOSDAQ or SPACs, with none on the main stock market. -Offering size and market capitalization exceeded historical averages, but institutional bookbuilding demand (692:1) and retail subscription competition (1108:1) were below recent averages, signaling cooler sentiment. -Listed companies still posted strong gains: average returns from offering price to opening price were 79.9%, and 174.8% on an annual basis. -The May IPO market is expected to see a sharp drop in both the number of listings and offering size, with a gradual recovery forecast from June. ◆Key filings after the close (30th) ▷Samsung Electronics donated 3.8 billion won to the Ho-Am Foundation last year, up 380 million won from a year earlier ▷Hyundai AutoEver posts 21.2 billion won in Q1 operating profit, down 20.7% from a year earlier ▷Jigu Holdings to raise 1.6 billion won via third-party allotment of new shares ▷Golfzon posts 14.1 billion won in Q1 operating profit, down 47.4% from a year earlier ▷Hyundai AutoEver posts 21.2 billion won in Q1 operating profit, down 20.7% from a year earlier ▷Court holds hearing for JR REITs CEO over rehabilitation filing; assets and claims frozen ◆Fund flows (as of the 29th, excluding ETFs) ▷Domestic equity funds: +25.9 billion won ▷Overseas equity funds: +50.4 billion won ◆Key events today (4th) ▷Eurozone: Sentix investor confidence index (May) ▷United States: Durable goods orders (March) ▷Meeting: Eurozone finance ministers’ meeting ▷Markets closed: China, the United Kingdom, Japan* This article has been translated by AI. 2026-05-04 07:54:20
  • Foreign Investors Return to South Korea Stocks in April as Retail Investors Pull Back
    Foreign Investors Return to South Korea Stocks in April as Retail Investors Pull Back Foreign and retail investors moved in opposite directions in South Korea’s stock market in April, with a sharp shift in who was driving flows. Foreign investors, who had warned of “Sell Korea” amid Middle East risks in March, returned to buying, while retail investors cut exposure to both domestic and overseas stocks led by Samsung Electronics. According to the Korea Exchange, foreign investors were net buyers of 1.2319 trillion won on the KOSPI main board in April, excluding ETFs, ETNs and ELWs. That contrasted with March, when they net sold 43.5050 trillion won as money moved toward safe assets after the Middle East situation escalated. Large-cap stocks, including semiconductors, led the rebound in foreign buying. Top net purchases included Samsung Electronics (1.6117 trillion won), Doosan Enerbility (1.1594 trillion won), SK hynix (916.1 billion won), Hyundai Rotem (609.9 billion won) and Samsung SDI (556.7 billion won). With geopolitical risks easing, investors appeared to rotate back into blue chips expected to post stronger results. Retail investors, meanwhile, sold 15.5228 trillion won over the month in what market watchers described as an unusually sharp pause. After absorbing foreign selling in March, individuals net sold 8.5007 trillion won of Samsung Electronics alone in April. Other heavy net sales included Doosan Enerbility (1.6040 trillion won), Samsung SDI (1.3125 trillion won), Hyundai Rotem (937.2 billion won), POSCO Holdings (650.5 billion won) and Hanmi Semiconductor (564.9 billion won). Individuals had been net sellers of 402.4 billion won in January, then turned aggressive buyers in February (4.0351 trillion won) and March (33.5690 trillion won), purchasing more than 37 trillion won of KOSPI shares over those two months. Han Ji-young, a researcher at Kiwoom Securities, said sentiment was pressured by the burden of higher oil prices tied to Middle East risks and the hawkish April Federal Open Market Committee outcome. Still, she said stronger profit momentum and attractive valuations “remain key points that will keep foreign investors’ incentive to buy Korean stocks intact over the medium term.” Lee Jae-man, a researcher at Hana Securities, said sectors that led gains when the KOSPI broke past prior highs in the past tended to keep leading as new highs were formed. With AI-focused infrastructure investment-related shares now driving the market, he advised increasing exposure to leaders expected to see a large rise in operating profit margins next quarter. U.S.-stock trading by South Korean retail investors also shifted toward caution. The Korea Securities Depository said April settlement amounts for U.S. stocks showed sales of $24.21353 billion exceeding purchases of $23.74460 billion, for net selling of about $468.93 million. The reversal ended a buying-dominant trend from January through March and reflected a broader effort by individuals to reduce stock allocations at home and abroad. Industry officials said retail investors, worn down by volatility linked to Trump-related risks and high oil prices, used rebounds to raise cash. * This article has been translated by AI. 2026-05-03 15:00:00
  • One-Third of KOSPI Firms Beat Q1 Forecasts by 10% or More; Q2 Estimates Rise
    One-Third of KOSPI Firms Beat Q1 Forecasts by 10% or More; Q2 Estimates Rise As first-quarter earnings season passed its midpoint, about one in three companies on South Korea’s main KOSPI board that have reported results posted operating profit at least 10% above market forecasts, data showed. With second-quarter estimates also being revised higher for major firms, expectations are growing that the earnings uptrend will continue. Yonhap News Agency’s review of Yonhap Infomax data on Saturday showed that, among 197 KOSPI-listed companies covered by forecasts from at least three brokerages over the past three months, 90 had released consolidated results as of April 30. More than half of those companies — 49, or 55.5% — reported first-quarter operating profit above the average market estimate, or narrowed their losses. Twenty-nine companies delivered an “earnings surprise,” beating forecasts by at least 10%. By contrast, 41 companies missed estimates, swung to a loss or widened losses. Nineteen of them posted an “earnings shock,” falling short by at least 10%. Aggregate results also exceeded expectations. Total first-quarter consolidated operating profit for the companies tracked came to 122.4245 trillion won, topping the market estimate of 106.2273 trillion won by more than 16 trillion won. Semiconductors led the gains. Samsung Electronics posted operating profit of 57.2328 trillion won, 35% above the consensus estimate, helped by rising memory prices and a shift toward higher value-added products. SK hynix reported 37.6103 trillion won, only 2% above consensus. Construction firms also turned in stronger-than-expected results. Daewoo Engineering & Construction posted operating profit of 255.6 billion won, more than double the market forecast (114%), aided by improved cost ratios and one-off gains. DL E&C reported operating profit of 157.4 billion won, well above the FnGuide consensus, as housing profitability improved. Analysts cited better housing cost ratios and a shift in business mix that pushed gross margin above 20%. IT components held up as well. Samsung Electro-Mechanics reported operating profit of 280.6 billion won, beating expectations despite reflecting costs that weighed on earnings. The company benefited from stronger demand tied to artificial intelligence, with a higher share of value-added products such as multilayer ceramic capacitors and high-density package substrates (FC-BGA). Analysts said the earnings-surprise trend could extend into the second quarter as estimates for major companies continue to rise. Kim Rok-ho, an analyst at Hana Securities, said Samsung Electronics’ second-quarter operating profit could reach about 89 trillion won, citing continued gains in memory prices and steady demand for AI servers and mobile devices. He said most of the profit improvement is expected to come from the memory business. Samsung Electro-Mechanics is forecast to post second-quarter operating profit of 376.5 billion won, up about 76.8% from a year earlier. Yang Seung-su, an analyst at Meritz Securities, said the company should benefit from higher MLCC shipments, rising utilization rates and continued product-mix improvement driven by AI-related demand. In construction, analysts said profits may moderate in the second quarter due to a high base in the first quarter, but the broader profitability improvement is expected to hold. Kim Seung-jun, an analyst at Hana Securities, said DL E&C’s second-quarter operating profit is estimated at about 115.5 billion won, but added that stabilizing cost ratios and expanding orders should support improving full-year results. Refining and chemicals are also drawing attention. Analysts said higher crude prices and product price increases could lift results with a lag, potentially widening the improvement ahead. Noh Woo-ho, an analyst at Meritz Securities, said attempts to raise prices across product lines amid geopolitical risks should not be seen as one-off moves. He said the rebound in product prices is likely to last longer and spread to other items, with refining and petrochemical companies expected to feel the benefit over time.* This article has been translated by AI. 2026-05-03 14:21:32
  • Why Healthy Companies Leave the Market: Suspicions of Deliberate Delisting Persist
    Why Healthy Companies Leave the Market: Suspicions of Deliberate Delisting Persist In 2017, a financially sound company with 100 billion won in net assets and 30 billion won in cash and cash equivalents was told by its external auditor that it would receive a “disclaimer of opinion.” The stock price plunged 95%, and the company was ultimately forced out of the market. The auditor said it could not obtain sufficient, appropriate audit evidence. In reality, the company refused to submit materials out of concern that wrongdoing by executives would be exposed. It was a predictable outcome that minority shareholders raised suspicions of a “deliberate delisting.” A similar case emerged in 2023. A blue-chip company with 200 billion won in net assets and steady profits received a “qualified opinion due to a scope limitation.” The company received the same qualified opinion the following year and again the year after, and it was eventually delisted. It was given a one-year improvement period, but the result was another qualified opinion in 2025. The issue was the failure to submit materials related to impairment of a small asset that was not essential to the company’s continued operations. Had the company provided the materials or revised its financial statements, it might have received an unqualified opinion at least once. Instead, it received qualified opinions for three consecutive years on the same grounds, fueling minority shareholders’ suspicion that the delisting was planned to benefit the controlling shareholder. A structure where delisting can be profitable Suspicions persist because the gains and losses are clear. Even after delisting, the company’s main disadvantage is greater difficulty raising funds through the market. For companies with little need for financing, there may be limited benefit in staying listed. For controlling shareholders, delisting can be an opportunity: during the liquidation trading period, they can buy minority shares at bargain prices. After pushing out remaining shareholders and securing 100% ownership, they can sell the company at a higher price or take dividends for themselves. Minority shareholders, by contrast, face a collapsing share price, difficulty trading and a heavier tax burden. In principle, the straightforward way for a controlling shareholder to remove all minority shareholders is a tender offer at a premium to the market price, but that is costly. Delisting can achieve the same goal without that expense. Delisting triggers such as capital impairment or insufficient revenue generally require a company to deteriorate. Failing to provide audit materials does not. While failure to file a business report can bring immediate criminal punishment, a company can exploit the vague boundary of “justifiable reasons” to withhold audit materials, induce a qualified opinion and still avoid criminal liability. Court rulings and continued losses Minority shareholders need meaningful compensation, but that has been difficult. Once delisting becomes likely, the stock price can collapse before the company suffers any direct economic loss. The mere fact that shares may become untradeable can drive prices down. In the 2017 case, minority shareholders sought damages for losses tied to delisting, but the court dismissed the claim. It classified the loss from the stock’s plunge as “indirect damage” stemming from a decline in the company’s assets. Although shareholders suffered from the price drop before any effect of reduced company assets could occur, the court treated the delisting as the result of executives’ management failure and still deemed it indirect damage. The company and executives effectively received a pass. The harm does not end with delisting. If controlling shareholders delisted and simply left minority shareholders in place, there would be little reason to delist. The next step is to force-buy minority stakes at low prices, often through share consolidation or a cash-out comprehensive stock exchange. Under the current Commercial Act and Supreme Court precedents, share consolidations of 1,000-to-1 or 10,000-to-1 are possible, and can be repeated. If a minority shareholder falls short by even one share after consolidation, that shareholder can be pushed out for a low price. A cash-out comprehensive stock exchange can also remove shareholders at the liquidation trading price. Once the company becomes wholly owned, the controlling shareholder can distribute dividends freely. Assets built with minority shareholders’ contributions can end up entirely with the controlling shareholder, whether through liquidation or dividends. Capital-market reform should go beyond revising the Commercial Act This amounts to taking others’ property, yet the law and courts allow it, underscoring why capital-market reform should not stop at revising the Commercial Act. On April 21, the National Assembly held a forum to discuss remaining tasks for protecting minority shareholders after the Commercial Act revision. Society should focus on building practical safeguards for minority shareholders forced out at bargain prices. One option is to create clear rules on liability for damages related to delisting. Share consolidation should be limited in ratio and frequency so it cannot be used to expel minority shareholders. The grounds for cash-out comprehensive stock exchanges should be restricted. And when market prices fail to reach net asset value, share valuation should reflect net asset value.* This article has been translated by AI. 2026-04-28 18:04:12
  • KOSPI’s W-Shaped Rebound Faces Test as Chip Earnings and Fed Meeting Loom
    KOSPI’s W-Shaped Rebound Faces Test as Chip Earnings and Fed Meeting Loom After setting a record high and completing a so-called W-shaped rebound, South Korea’s stock market is expected to face a key test next week over whether the rally can extend. Semiconductor-driven earnings momentum has supported gains, but heavy foreign selling and a U.S. monetary policy event could increase volatility. According to the Korea Exchange, the KOSPI closed the previous session down 0.18 point, or flat, at 6,475.63. The index rose to the 6,490 level early in the day but gave up gains amid large foreign selling. In the main board market, foreigners net sold 2.1022 trillion won, while individuals and institutions net bought 1.5066 trillion won and 646.1 billion won, respectively. The KOSDAQ ended up 29.53 points, or 2.51%, at 1,203.94. Foreigners and institutions net bought 806.5 billion won and 179.6 billion won, while individuals net sold 963.8 billion won. This week, domestic shares swung between gains and losses as investors weighed post-record-high fatigue and geopolitical risks. Analysts said expectations for semiconductor earnings have collided with Middle East uncertainty. While negotiations between the United States and Iran have continued, tensions tied to the Strait of Hormuz and rising oil prices have not fully eased, they said. Next week, the durability of the semiconductor earnings story is expected to be a central driver. SK hynix posted its best-ever first-quarter results, reinforcing expectations for an industry upturn, and optimism could spread across related sectors. In April export data released recently, semiconductor exports rose more than 180% from a year earlier, maintaining a strong trend. Market watchers also noted that the KOSPI’s rise has been driven more by improving corporate earnings than by liquidity. Upward revisions to profit estimates, led by semiconductors, have helped underpin fundamentals. Still, the sharp run-up over a short period and continued foreign selling are seen as near-term sources of volatility. Foreign flows are viewed as a key swing factor. Foreign investors have remained net sellers in the cash market, and directional buying in the futures market has been limited, analysts said. That could restrain program buying and reduce the index’s upward momentum. Overseas, investors are watching U.S. monetary policy and major economic data. The Federal Open Market Committee meets April 29-30 local time, and while a rate hold is widely expected, markets are focused on how the Fed addresses inflation pressure linked to higher oil prices. U.S. first-quarter gross domestic product, the personal consumption expenditures inflation gauge and earnings from major big tech companies are also seen as potential volatility triggers. Some in the market said that if higher oil prices intensify inflation concerns, expectations for rate cuts could weaken. Others said the KOSPI could keep its uptrend if earnings improvements, led by semiconductors, continue. Na Jeong-hwan, a researcher at NH Investment & Securities, said, "The KOSPI is in a phase where expectations for earnings growth have been reflected in prices, so investors need to focus on sectors where results are being confirmed," adding that "semiconductors, power equipment and defense remain valid leading sectors." Kang Jin-hyeok, a researcher at Shinhan Investment Corp., said, "After a sharp short-term drop, the market has succeeded in a W-shaped rebound, so whether gains continue will depend on earnings and macro variables," and added that investors should keep in mind the possibility of greater volatility driven by geopolitical risks and inflation factors. Some analysts also said the recent pullback has not translated into damage to corporate earnings. With profit estimates continuing to rise, particularly in semiconductors and industrials, they said the current move looks more like a short-term, flow-driven adjustment than a break in the broader trend. As a result, they expect stock-specific performance to dominate over a clear index direction for the time being.* This article has been translated by AI. 2026-04-25 06:03:23