Journalist

Kim Yeon-jae
  • Asian markets retreat as regional winners KOSPI and Nikkei give way to profit-taking
    Asian markets retreat as regional winners KOSPI and Nikkei give way to profit-taking SEOUL, November 04 (AJP) - Asian stocks fell across the board Tuesday as profit-taking swept through the region, with South Korea’s KOSPI posting the steepest loss among major Asian benchmarks and Japan’s Nikkei 225 also tumbling sharply. South Korea’s KOSPI slid 2.37 percent to close at 4,121.74, wiping out the previous day’s gains. Foreign investors dumped 2.2 trillion won ($1.5 billion) worth of shares, joined by institutional investors who offloaded 498.6 billion won. Individual investors, however, stepped in aggressively, net buying 2.6 trillion won as they searched for bargains in a market that recently enjoyed historic momentum. Chip heavyweights that had powered recent rallies on strong earnings and the so-called “Jensen Huang effect” reversed sharply. Samsung Electronics sank 5.58 percent to 104,900 won, while SK hynix fell 5 percent to 589,000 won. Both had surged in recent weeks on record quarterly results and NVIDIA CEO Jensen Huang’s high-profile visit to Seoul, but succumbed to heavy profit-taking. SK hynix’s pullback was further intensified after the Korea Exchange designated the stock as an “investment alert,” citing excessive use of margin accounts following its more than 10 percent jump the previous session. Defense stocks that had soared on blockbuster earnings also retreated. Hanwha Aerospace slipped 3.07 percent to 1,010,000 won, while Hyundai Rotem fell 5.93 percent to 230,000 won. By contrast, copper and cable shares rallied after Microsoft CEO Satya Nadella warned in a podcast that “the AI industry will face bottlenecks if power supply issues are not resolved.” Taihan Cable surged 7.75 percent to 27,100 won, and LS, the parent of LS Cable, gained 2.3 percent to 222,500 won. The tech-heavy KOSDAQ bucked the broader decline, rising 1.31 percent to 926.57, led by a strong rebound in biotech. HLB, the fifth-largest company on the index, jumped 13.68 percent to 53,600 won after announcing plans to issue 201 billion won ($140 million) in exchangeable bonds to U.K.-based hedge fund LMR Partners. In Japan, the Nikkei 225 dropped 1.74 percent to 51,497.20, as investors locked in profits following the index’s run of record highs. AI-linked names led the pullback, with Advantest tumbling 5.86 percent to 21,780 yen ($141.8) and SoftBank Group sliding 7 percent to 25,160 yen. Cable-related stocks in Tokyo mirrored Seoul’s strength, with Sumitomo Cable jumping 7.3 percent to 412 yen, lifted by Nadella’s comments on looming power-supply constraints. Elsewhere in the region, China’s Shanghai Composite Index dipped 0.41 percent to 3,960.19 on persistent unease over U.S.–China trade tensions. Taiwan’s TAIEX lost 0.77 percent to 28,116.56, while Hong Kong’s Hang Seng Index fell 0.79 percent to 25,952.40. 2025-11-04 17:34:29
  • South Koreas inflation gains fastest in 15 months, markets price in rate freeze
    South Korea's inflation gains fastest in 15 months, markets price in rate freeze SEOUL, November 04 (AJP) - South Korea’s consumer inflation accelerated at the fastest pace in 15 months in October, reinforcing market expectations for another rate freeze this month as authorities attributed much of the pickup to increased spending during the extended Chuseok holiday, government data showed Tuesday. According to the October consumer price index (CPI) released by the Ministry of Data and Statistics, headline inflation rose 2.4 percent from a year earlier, the quickest pace since the 2.6 percent gain logged in July last year. Personal service charges — a category covering overseas travel and hospitality — climbed 3.6 percent, adding 0.7 percentage point to the overall price increase. Prices of agricultural, livestock and fishery products rose 3.1 percent, the second-largest contributor, largely reflecting Chuseok demand as families prepared traditional holiday meals. Ingredients for typical holiday offerings posted some of the sharpest increases: rice up 21.3 percent, apples up 21.6 percent, pork up 6.9 percent, mackerel up 11 percent, and eggs up 6.9 percent. Dining-out prices remained firm, rising 3.0 percent, though overall fresh food prices fell 0.8 percent. Housing costs continued to edge up on persistent market instability, with monthly rents rising 1.1 percent and long-term rental deposits (jeonse) up 0.5 percent. Fuel prices jumped 4.8 percent, the biggest rise in eight months, due to a weaker won and a base effect from last October’s 10.9-percent plunge. Diesel rose 8.2 percent, while gasoline prices increased 4.5 percent, reflecting the combined impact of U.S. sanctions on Russian oil companies and OPEC+’s production halt. Core inflation — excluding volatile food and energy — also strengthened, rising 2.5 percent on year. Whether the firmer inflation will sway the Bank of Korea’s final rate-setting meeting of the year on Nov. 27 remains unclear, as policymakers view the latest uptick as largely temporary. The bond market, meanwhile, continues to discount the likelihood of a rate cut this year. As of Monday, benchmark government bond yields stood at 2.741 percent for 3-year notes, 2.883 percent for 5-year notes, and 3.086 percent for 10-year notes, up 2.5 to 2.8 basis points. The Bank of Korea kept its policy rate at 2.50 percent for a third straight meeting last month, with Governor Rhee Chang-yong signaling that the current easing cycle may be nearing its end. 2025-11-04 11:22:02
  • Asian markets recover, KOSPI and Nikkei continue to test new highs
    Asian markets recover, KOSPI and Nikkei continue to test new highs SEOUL, November 03 (AJP) - Asian stocks rebounded on Monday, with South Korea and Japan extending their record-setting rallies on expectations of stronger chip-sector earnings and upbeat corporate results. The benchmark KOSPI jumped 2.78 percent to a new closing high of 4,221.87. Retail investors drove the rally, purchasing 651.2 billion won ($456 million) worth of shares, followed by institutions with 443.2 billion won. Foreign investors sold about 795 billion won, taking profits after the recent surge. Chip stocks again led the charge. SK hynix soared 10.9 percent to 620,000 won ($434.2), marking another all-time high as brokerages including Nomura Securities and Goldman Sachs raised profit estimates. Nomura projected the memory maker’s operating profit to reach 99 trillion won in 2026 and top 100 trillion won in 2027. Samsung Electronics also advanced, adding momentum to the sector’s upward trend. Defense stocks strengthened after reporting strong quarterly results. Hanwha Aerospace climbed 6.44 percent to 1,042,000 won, while Hyundai Rotem gained 6.07 percent to 244,500 won. Both companies said their defense divisions accounted for the bulk of third-quarter earnings, with operating profit rising 79 percent at Hanwha and 102 percent at Rotem. Japan’s Nikkei 225 advanced 2.12 percent to an all-time high of 52,411.34. Konami surged 16.81 percent to 25,740 yen ($167.19) after posting a 48 percent increase in second-quarter operating profit. Japan Tobacco rose 8.93 percent to 5,365 yen on a 27.2 percent profit gain, while Hitachi added 7.15 percent to 5,318 yen, supported by solid third-quarter results and news of a new high-speed rail project in Italy. China’s Shanghai Composite Index edged up 0.55 percent to 3,976.52, trimming last week’s losses. Analysts said gains were limited as the outcome of the Trump–Xi summit largely matched market expectations. Hong Kong’s Hang Seng Index was up 1 percent at 26,160 as of 4:15 p.m., helped by its relative insulation from mainland market pressures. Taiwan’s TAIEX added 0.36 percent to close at 28,334.59, rounding out a broadly positive session for Asian equities. 2025-11-03 17:46:27
  • Korean Economy/Business Calendar
    Korean Economy/Business Calendar SEOUL, November 03 (AJP) - Nov. 4, Tue Consumer Price Index, October 2025 (Ministry of Data and Statistics) Q3 Results (EcoPro BM) Q3 Results (Krafton) Q3 Results (GS E&C) Nov. 5, Wed Economically Active Population Survey, August 2025 (Ministry of Data and Statistics) Q3 Results (Naver) Q3 Results (EcoPro and its subsidiaries) Q3 Results (Kakao Bank) Q3 Results (Doosan Enerbility) Q3 Results (Hanwha Solutions) Nov. 6, Thu Multicultural Population Dynamics Statistics, 2024 (Ministry of Data and Statistics) Balance of Payments in September 2025 - preliminary (Bank of Korea) Q3 Results (CJ ENM) Q3 Results (StudioDragon) Nov. 7, Fri Q3 Results (Kakao) Q3 Results (KT) Q3 Results (Doosan) Q3 Results (YG Entertainment) Nov. 10, Mon Trade Statistics by Business Characteristics, Q3 2025 - Preliminary (Ministry of Data and Statistics) Q3 Results (NHN) Q3 Results (HYBE) Nov. 11, Tue Social Survey Results 2025 (Ministry of Data and Statistics) Q3 Results (CJ Cheiljedang) Q3 Results (NCSOFT) Nov. 12, Wed Employment Trends, October 2025 (Ministry of Data and Statistics) Monetary and Liquidity Aggregates, September 2025 (Bank of Korea) Q3 Results (Pearl Abyss) Q3 Results (JYP Entertainment) Nov. 14, Fri Export/Import Price + Trade Indexes, October 2025 - preliminary (Bank of Korea) Nov. 18, Tue Household Credit, Q3 2025 - preliminary (Bank of Korea) Nov. 19, Wed International Investment Position, Q3 2025 - preliminary (Bank of Korea) Nov. 21, Fri PPI, October 2025 - preliminary (Bank of Korea) Nov. 25, Tue CSI, November 2025 (Bank of Korea) Nov. 26, Wed Population Trends, September 2025 (Ministry of Data and Statistics) BSI and ESI, November 2025 (Bank of Korea) Nov. 27, Thu Household Income and Expenditure Survey Results, Q3 2025 (Ministry of Data and Statistics) Nov. 28, Fri Industrial Activity Trends, October 2025 (Ministry of Data and Statistics) 2025-11-03 15:32:24
  • UPDATE: Hanwha Aero and Hyundai Rotem show off K-defense muscles in Q3
    UPDATE: Hanwha Aero and Hyundai Rotem show off K-defense muscles in Q3 SEOUL, November 03 (AJP) - South Korean weapons makers kept up their record-setting earnings streak in the third quarter, powered by solid demand for Korean defense systems known for proven technology and rapid delivery. Hanwha Aerospace posted its strongest third-quarter performance on record, lifted by robust exports and solid contributions from subsidiary Hanwha Ocean — underscoring the group’s growing dominance across Korea’s expanding defense-industrial value chain. The company said Monday its Q3 revenue surged 156.5 percent on-year to 6.5 trillion won ($4.55 billion), while operating profit jumped 79.5 percent to 856.4 billion won ($600 million) — the highest level ever for a third quarter. A key driver was the full consolidation of Hanwha Ocean, which contributed 3 trillion won in sales, representing the single largest chunk of group revenue. The land systems division, responsible for the K9 self-propelled howitzer and multiple-launch rocket systems, followed with 2.1 trillion won, trailed by Hanwha Systems — owner of Philly Shipyard — at 807 billion won and the aerospace arm at 604 billion won. Most of the profit, however, came from land systems, which generated 573 billion won in operating profit, or roughly 27 percent of the companywide total. Hanwha Ocean logged 290 billion won. Hanwha Systems saw a temporary earnings dip due to costs tied to its Philly Shipyard acquisition, while the aerospace segment swung back to profit after its Risk and Revenue Sharing Program (RSP) — a joint development mechanism where partners share profit and losses by equity ratio — turned profitable. RSP projects are known to incur front-loaded costs, so the turnaround is viewed as evidence the aerospace unit is entering a more stable earnings phase. “The land-systems backlog now stands at 31 trillion won, or around 69 percent of total orders,” a Hanwha Aero official said, adding that earnings momentum is expected to extend through 2029 as defense expansion remains the primary growth engine. Hanwha Aero is also accelerating its European push. The company plans to begin construction on a new production base in southern Romania by year-end, with local manufacturing to start in 2027. Hanwha entered the Romanian market last July by signing a 1.38 trillion-won deal to supply 54 K9 howitzers and 36 K10 armored ammunition resupply vehicles. It plans to partner with Romanian defense company PRO OPTICA and Italy’s Iveco for the new plant, ultimately targeting Romania’s infantry fighting vehicle (IFV) market. Hanwha Aerospace rose 6.44 percent to close at 1,042,000 won. Hyundai Rotem delivers best results since founding Hyundai Rotem also posted its best-ever results since its establishment, buoyed by soaring global demand for armored vehicles and main battle tanks. From January to September, the company recorded cumulative revenue of 4.2 trillion won and operating profit of 738 billion won — up 44 percent and 150 percent, respectively, from a year earlier. Even on a Q3-only basis, revenue rose 48 percent year-on-year, while operating profit more than doubled, up 102 percent. Like Hanwha Aero, Rotem’s standout performance came from its defense division. Cumulative new defense orders soared from 438 billion won in the first three quarters of last year to 9.14 trillion won this year — an explosive 1,988 percent jump — driven by skyrocketing demand for K2 main battle tanks across NATO states such as Poland and Romania, along with new export contracts for wheeled armored vehicles (WAVs) with Peru. Made-in-Korea armored assets have long been recognized for strong fundamentals, backed by Korea’s advanced manufacturing capabilities and its operational credibility as a nation effectively still at war. Sales gained renewed momentum after Russia’s invasion of Ukraine. Bordering NATO states, particularly Poland and Romania, began rushing to place large-scale tank orders amid mounting security concerns. Korean producers gained an edge with faster delivery timelines and high-performance systems, rivaling established European defense giants Rheinmetall and Krauss-Maffei Wegmann (KMW). Riding on its strengthened global position, Hyundai Rotem plans to continue research into hypersonic vehicles and dual-mode ramjet propulsion systems, aiming to develop maneuverable hypersonic missiles — a technology critical for penetrating missile defense systems and striking high-value targets. The company is also working to integrate robotics and drone technologies from Hyundai Motor Group to expand into next-generation autonomous and unmanned defense platforms. Hyundai Rotem shares surged 6.07 percent to 244,500 won. Eugene Investment & Securities analyst Yang Seung-yoon remains bullish on Korea’s broader defense sector, which also includes Korea Aerospace Industries and LIG Nex1, known for missile and radar capabilities. “NATO’s upward revision of defense spending targets and the EU’s exemption of defense-related debt limits could create meaningful opportunities,” Yang said. 2025-11-03 11:43:25
  • KOSPI and Nikkei duo end historic week on upbeat note, other Asian markets low-key
    KOSPI and Nikkei duo end historic week on upbeat note, other Asian markets low-key SEOUL, October 31 (AJP) - South Korean and Japanese equities extended their record-setting momentum on Friday, moving in lockstep toward new highs while most other Asian markets ended lower amid mixed regional sentiment. Japan’s Nikkei 225 led the advance, soaring 2.25 percent to 52,478, the first time the benchmark has ever topped the 52,000 threshold. The rally accelerated after Bank of Japan Governor Ueda Kazuo signaled a pause in rate hikes, reinforcing expectations for renewed stimulus. Tech shares also strengthened after Apple posted an 8 percent on-year increase in quarterly revenue, lifting suppliers across the region. Murata Manufacturing, a top MLCC component producer, jumped 12 percent to 3,395 yen ($22). In Seoul, the KOSPI gained 0.5 percent to 4,107.5, closing out a historic week on a firm note. Samsung Electronics climbed 3.27 percent to 107,500 won ($75.42), while Hyundai Motor surged 9.43 percent to 290,000 won on optimism stemming from the recently concluded Korea–U.S. tariff negotiations and the “Huang halo” following Nvidia CEO Jensen Huang’s high-profile visit. On Thursday, Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Group Chairman Chung Eui-sun met the visiting Nvidia chief for a late-night “chimaek” (chicken-and-beer) gathering in Seoul — a scene that underscored the deepening alignment between Korea’s top tech and mobility leaders. NAVER — another core player in the emerging “AI alliance” orbiting Nvidia — rose 4.7 percent to 267,500 won. NAVER Chairman Lee Hae-jin, who joined President Lee Jae Myung and Huang during their meeting, said the company plans to co-develop a “Physical AI” platform aimed at supporting national industries including defense and shipbuilding. Robotics stocks also surged on the Huang effect after the CEO hinted at future collaboration with Korean robotics firms during Thursday’s Nvidia GeForce Gaming Festival. Hyundai Autoever, specializing in automotive and robotics software, spiked 26.08 percent to 203,500 won, while Rainbow Robotics jumped 24 percent to 436,500 won. The KOSDAQ climbed 1.07 percent, reclaiming the 900 level, driven by similar enthusiasm for robotics names. Neuromeka, known for its medical robotic arms, surged 20.15 percent to 31,900 won. Elsewhere in Asia, sentiment was subdued. China’s Shanghai Composite Index fell 0.81 percent to 3,954.79, slipping below the 4,000 mark as manufacturing activity contracted for the seventh straight month and PMI data disappointed. Taiwan’s TAIEX slipped 0.19 percent to 28,233.35 amid weakness in export-oriented sectors. As of 4:25 p.m., Hong Kong’s Hang Seng Index was down 1.15 percent at 25,985. 2025-10-31 17:04:26
  • South Koreas factory output slips in September, but investment surge signals upbeat outlook
    South Korea's factory output slips in September, but investment surge signals upbeat outlook SEOUL, October 31 (AJP) - South Korea’s industrial production dipped in September as auto exports faltered under the weight of higher U.S. tariffs, but a sharp rebound in capital investment suggested that the manufacturing sector may be regaining its footing amid a global semiconductor boom and signs of easing trade frictions. According to data released Friday by the Ministry of Data and Statistics, manufacturing output fell 1.2 percent from the previous month — the first decline since May. The drop was driven largely by an 18.3 percent plunge in automobile shipments, which more than offset a nearly 20 percent surge in semiconductor production. Manufacturing inventories rose 2.2 percent on month, while the average factory operating rate slipped 1.2 percent, leading to a modest decline in the inventory circulation index. The weakness in manufacturing contrasted with strength elsewhere in the economy. Service-sector output rose 1.8 percent from August, buoyed by a new round of government stimulus vouchers that spurred consumer spending. Overall industrial activity increased 1 percent on the month. Output grew across most categories, led by a 5.8 percent increase in wholesale and retail trade, boosted by strong demand for machinery and household goods. The financial and insurance segment expanded 2.3 percent, supported by higher margin lending tied to active stock trading. By contrast, arts, sports and leisure services fell 8.4 percent, reflecting weaker consumer sentiment as households and firms shifted toward defensive, investment-oriented spending. Retail sales slipped 0.1 percent from the previous month in September, marking the second consecutive decline. Although the pace of contraction slowed from August’s 2.5 percent drop, the figures still pointed to weakening consumer demand. By category, sales of durable goods — including smartphones, computers, and home appliances — rose 3.9 percent, though a decline in automobile sales offset the gains. Meanwhile, semi-durable goods such as clothing, shoes, and bags fell 5.7 percent. Nondurable goods, including gasoline and diesel, edged down 0.1 percent, extending the overall downward trend in consumption. The outlook, however, appears more upbeat. Capital investment jumped 12.7 percent in September, reversing a 1.3 percent decline in August, as companies ramped up spending on shipbuilding and semiconductor fabrication facilities. Machinery investment climbed 9.9 percent, while transport-equipment investment jumped 19.5 percent. A more optimistic market outlook across the manufacturing sector stimulated by a series of strong earnings reports by major South Korean companies - including Samsung Electronics and SK hynix - encouraged companies to expand capital spending. Momentum indicators also hinted at a potential turning point. The cyclical coincident index, which measures current economic conditions, rose 0.2 points, while the leading index — a gauge of future trends — added 0.1 point, supported by firmer export and import prices and a buoyant stock market. Experts say the combination of robust investment and resilient service activity could cushion the economy from near-term trade headwinds, particularly if semiconductor demand continues to strengthen through year’s end. “Despite weaker investment sentiment stemming from growing domestic and global policy uncertainty, demand for high value-added memory semiconductors is expected to remain solid, supporting continued strength in the semiconductor industry through the latter half of the year," the Korea Institute for Industrial Economics and Trade noted in a report. 2025-10-31 09:24:37
  • Hyundai Motors Q3 profit dips 29% on U.S. tariff shock; shares hold firm on trade deal
    Hyundai Motor's Q3 profit dips 29% on U.S. tariff shock; shares hold firm on trade deal SEOUL, October 30 (AJP) - Hyundai Motor reported a sharp retreat in third-quarter operating profit Thursday as the spike in U.S. auto tariffs wiped more than $1 billion from the automaker’s bottom line, but reiterated that its EV and expansion strategy in the U.S. remains intact regardless of setbacks. South Korea’s largest automaker — and the world’s No. 3 as of March — said operating profit fell 29.6 percent on quarter and 29.2 percent on year to 2.54 trillion won ($1.78 billion). Revenue climbed to 46.72 trillion won, the highest for any third quarter, down 3.2 percent from the previous quarter but up 8.8 percent from a year earlier. The operating margin slumped to a three-year low of 5.4 percent. The company attributed the earnings shock to Washington’s hike of U.S. auto tariffs to 25 percent, a rate that remained in place for Korean exports even as the U.S. lowered duties on Japanese and European cars to 15 percent under separate bilateral agreements. Investors, however, looked past the weak results after Seoul and Washington reached an overnight deal to cut Korean auto tariffs to 15 percent as part of a broader $350 billion investment package from Korean companies. Hyundai Motor shares traded 2.8 percent higher at 265,250 won as of 2:45 p.m. in Seoul. Global shipments stayed resilient, with Hyundai cars selling 1,038,353 units in July-September period, up 2.6 percent from a year earlier but down 28,000 units from the previous quarter. SUVs accounted for the largest share with 659,000 units sold, followed by 327,000 passenger cars and 52,000 commercial vehicles. Eco-friendly models remained a key growth driver. Hyundai sold 252,000 eco-friendly vehicles, including 76,000 electric vehicles (EVs) and 161,000 hybrid electric vehicles (HEVs). While EV demand softened globally, sales in North America surged 90.3 percent as the company moved aggressively to clear remaining inventory after U.S. President Donald Trump scrapped federal EV subsidies. Fuel-cell electric vehicle (FCEV) sales also rose sharply to 4,000 units, driven by the launch of The All-New NEXO, up from 1,000 units in the second quarter. Hyundai also broke ground on Korea’s first hydrogen fuel-cell plant in Ulsan the same day, signaling its intention to accelerate growth in the FCEV segment. Despite the tariff relief, the company predicted sales setback in the U.S. in the fourth quarter due to the end of federal subsidy. To bridge the EV gap, Hyundai is rolling out hybrid version of Palisade SUV in North America. “The Palisade has always been one of our most profitable models,” Hyundai said. “With the tariff agreement lowering reciprocal rates to 15 percent, we expect even higher operating margins.” EV demand remains robust in Europe, supported by strict environmental regulations, generous subsidies, and the region’s planned 2035 ban on internal combustion engines, will likely offset the losses. The auto giant affirmed it will maintain on track in long-term EV pivot strategy, the company said in a conference call. The EV roadmap with battery partners LG Energy Solution and SK on including joint-venture plants also remains intact. 2025-10-30 15:29:49
  • KOSPI positive on U.S. concessions, other Asian markets await Trump–Xi meeting
    KOSPI positive on U.S. concessions, other Asian markets await Trump–Xi meeting SEOUL, October 30 (AJP) - South Korea’s benchmark KOSPI extended gains early Thursday after Seoul and Washington reached a long-awaited tariff agreement, removing a key bilateral sticking point ahead of a high-stakes U.S.–China summit later in the day, while other Asian markets were on hold as investors awaited direction on broader geopolitical tensions. The KOSPI climbed 0.3 percent to 4,090 as of 10:30 a.m., following confirmation that President Lee Jae Myung and U.S. President Donald Trump finalized the tariff terms during the APEC 2025 summit in Gyeongju. Retail investors bought a net 206 billion won ($140 million), joined by foreigners with 57.5 billion won, while institutions and credit-finance firms sold a combined 275 billion won to lock in recent gains. Automakers surged after the two nations agreed to cut U.S. automobile tariffs on Korean cars from 25 percent to 15 percent. Hyundai Motor jumped 6 percent to 272,500 won and had briefly triggered a two-minute volatility interruption the previous day after spiking more than 13 percent. Kia rose 3.7 percent to 120,100 won. Hanwha Group stocks rallied on new momentum. Hanwha Ocean jumped 12 percent to 148,000 won after Trump posted that a Korean nuclear-powered submarine would be built at the company-owned Philly Shipyard in the U.S. Hanwha Systems soared 17 percent to 64,800 won on its plan to enter the unmanned surface vehicle (USV) market through a partnership with U.S. marine-technology firm HavocAI. Samsung Electronics rose 4 percent to 104,500 won after reporting third-quarter operating profit of 12.1 trillion won, up 33 percent on year, with its Device Solutions division delivering a stronger-than-expected 7 trillion won profit. SK hynix was nearly flat, inching up 0.2 percent to 558,500 won as foreign investors such as J.P. Morgan took profits after Wednesday’s record-setting rally. Japan’s Nikkei 225 slipped 0.2 percent to 51,180. Sumitomo Electric gained 5 percent to 5,253 yen, and Advantest added 4 percent to 23,000 yen, while exporters with minimal U.S. manufacturing presence underperformed, with Komatsu plunging 6 percent to 5,220 yen. China’s Shanghai Composite inched down 0.1 percent to 4,010, while Hong Kong’s Hang Seng Index rose 0.7 percent to 26,540. Taiwan’s TAIEX slipped 0.2 percent to 28,280. 2025-10-30 11:01:11
  • HOT STOCK: Power equipment stocks rally on Saudi contract, US nuclear cooperation hopes
    HOT STOCK: Power equipment stocks rally on Saudi contract, US nuclear cooperation hopes SEOUL, October 29 (AJP) - Shares of South Korean electrical-equipment makers, particularly transformer manufacturers, climbed sharply on Wednesday after a consortium led by Korea Electric Power Corporation (KEPCO) was named the preferred bidder for a major wind power project in Saudi Arabia — a decision that investors saw as a boost for Korean exports in the energy-infrastructure sector. Saudi Arabia’s Ministry of Energy announced Tuesday that the KEPCO consortium had been selected to develop the Dawadmi Wind Independent Power Producer (IPP) project in Riyadh Province, about 250 kilometers west of the capital. The project, estimated at 9 billion Saudi riyals ($2.4 billion), will generate up to 1,500 megawatts, or 1.5 gigawatts — roughly equivalent to the output of a nuclear reactor. It marks the first time a South Korean consortium has secured a gigawatt-class power generation contract in Saudi Arabia. The massive scale of the project is expected to drive strong demand for high-voltage transformers, a key component for transmitting and regulating the plant’s electricity output. That expectation sent transformer-related stocks higher across the KOSPI. Hyosung Heavy Industries rose 4.4 percent to close at 1.99 million won ($1,396), extending gains after recent strong earnings. The company, already a major supplier to North America and Europe, has steadily expanded its footprint in the Middle East, where second-quarter 2025 sales accounted for about 6 percent of total revenue. HD Hyundai Electric added 1.6 percent to 852,000 won, while LS Electric jumped 9.2 percent to 420,000 won, leading the rally as investors anticipated potential new orders from the KEPCO-led project. The surge reflects both optimism surrounding Saudi contracts and the sector’s robust fundamentals. HD Hyundai Electric reported 3.32 trillion won in revenue and 669 billion won in operating profit last year — more than double the previous year’s figures. Hyosung Heavy Industries posted 4.9 trillion won in revenue and 363 billion won in operating profit. Analysts expect the trend to continue: Mirae Asset Securities projects HD Hyundai Electric’s 2025 revenue will reach 4.03 trillion won, with profit margins rising to 22.7 percent. Investor sentiment also drew strength from expectations of deepening Korea–U.S. energy cooperation. Seoul and Washington are reportedly discussing a policy initiative known as “Make American Nuclear Cooperation Great Again,” or MANUGA, aimed at revitalizing America’s nuclear industry. Extra-high-voltage transformers — a specialty of South Korean firms — are critical for distributing power from nuclear plants, positioning Korean manufacturers as likely beneficiaries of the proposed collaboration. President Lee Jae Myung and President Donald Trump discussed energy cooperation on Wednesday during the APEC 2025 summit in Gyeongju, further bolstering market enthusiasm. “South Korea will contribute its expertise in nuclear construction, equipment, and operations to new U.S. reactor projects,” said Hwang Sung-hyun, a researcher at Eugene Investment & Securities. “In return, the U.S. aims to rebuild its nuclear infrastructure and enhance energy security — positioning Korea not just as an exporter, but as a strategic partner in America’s nuclear renaissance.” 2025-10-29 17:10:46