Journalist

Ryu So-hyun
  • Korea Investment & Securities raises HPSP target price 20% on AI-driven chip spending
    Korea Investment & Securities raises HPSP target price 20% on AI-driven chip spending Korea Investment & Securities on Tuesday raised its target price for HPSP by 20% to 65,000 won from 54,000 won, citing expected benefits from expanding artificial intelligence demand that is driving investment in foundry and memory chips. It maintained its “buy” rating. Researcher Chae Min-sook said TSMC’s shortage of 3-nanometer production capacity is expected to create spillover gains for Intel and Samsung Foundry, and that HPSP should benefit because it supplies equipment to all three leading-edge foundries. She added that rising AI demand is expected to lift utilization not only at 12-inch legacy foundries but also at 8-inch foundries, increasing the likelihood of revenue growth for HPSP, which has a broad base of foundry customers. HPSP has grown mainly with foundries on the back of its high-pressure hydrogen annealing equipment, and the brokerage expects its expansion into memory semiconductors to accelerate. As AI systems increase the share of NAND used, demand is rising to convert related processes, and equipment demand is expected to grow in tandem, it said. Major chipmakers are also speeding up investment as competition intensifies to stack more NAND layers. SK hynix plans to convert about half of its NAND production bits to 321-layer technology in 2026, while Samsung Electronics is accelerating process conversions at its Xi’an and Pyeongtaek plants. Kioxia and YMTC are also pursuing capacity expansion and process upgrades at the same time. The brokerage said this trend is likely to translate directly into growth in HPSP’s NAND-related revenue. Momentum is also expected in DRAM. The report said pilot-line investment in the 1d nanometer process is set to begin from late 2026, and from that stage the use of high-pressure hydrogen annealing is expected to expand. That would allow HPSP to extend growth proven in foundries into memory and strengthen its medium- to long-term earnings base, it said. The brokerage added that the global foundry market remains supportive. With AI inference demand rising, utilization is increasing not only at leading-edge foundries but also at legacy foundries that produce power management ICs, and the possibility of expanded capital spending by major players is being discussed. In a broader investment upcycle, it said, HPSP is expected to benefit given that it counts most foundry companies among its customers. * This article has been translated by AI. 2026-04-29 08:39:10
  • Korea to List 2x Leveraged ETFs Tied to Samsung Electronics, SK Hynix as Hong Kong Demand Grows
    Korea to List 2x Leveraged ETFs Tied to Samsung Electronics, SK Hynix as Hong Kong Demand Grows South Korea is set to list 2x leveraged exchange-traded funds tied to Samsung Electronics and SK Hynix by late May, drawing attention to whether money that flowed into Hong Kong-listed products could shift back to the domestic market. According to the Korea Securities Depository, as of April 24 the Hong Kong holdings of South Korean investors ranked the “CSOP SK Hynix Daily 2X Leveraged ETF (XL2CSOPHYNIX)” seventh and the “CSOP Samsung Electronics Daily 2X Leveraged ETF (XL2CSOPSMSN)” 10th among top stocks by custody value. Their custody amounts were tallied at $104.78 million and $74.11 million, respectively, totaling nearly 264 billion won. Both rank and size rose from the end of March, when the two products stood at 10th ($54.95 million) and 11th ($43.45 million). With upbeat expectations for the semiconductor cycle persisting, domestic demand has continued to move into Hong Kong, where single-stock 2x ETFs have been available while such products were not allowed in South Korea. The underlying shares also climbed sharply from April 1 to 24: Samsung Electronics rose 31.28% and SK Hynix gained 51.43%. Over the same period, South Korean investors’ Hong Kong trading was concentrated in the two ETFs. The SK Hynix 2x ETF saw purchases of $40.27 million and sales of $48.96 million, while the Samsung Electronics 2x ETF recorded $23.75 million in buys and $19.36 million in sells. With the domestic launch of single-stock leveraged ETFs approaching on May 22, the financial investment industry is discussing the possibility that demand headed to Hong Kong could return to South Korea. Domestic listings are seen as more convenient because Hong Kong ETFs require converting won into Hong Kong dollars and factoring in currency gains or losses, while domestic ETFs can be traded without separate currency exchange. Tax treatment also differs: overseas-listed ETFs are subject to capital gains tax on trading profits, while trading gains on domestically listed ETFs are effectively not taxed. “One big reason demand moved to Hong Kong was the lack of single-stock leveraged products in South Korea,” a financial investment industry official said. “After domestic listing, the lack of currency-conversion burden and the tax advantages could lead to a shift of funds into domestic ETFs, especially among retail investors.”* This article has been translated by AI. 2026-04-28 18:24:17
  • Korea to List 2x Leveraged ETFs Tied to Samsung Electronics, SK Hynix; Hong Kong Funds May Return
    Korea to List 2x Leveraged ETFs Tied to Samsung Electronics, SK Hynix; Hong Kong Funds May Return South Korea is set to list 2x leveraged exchange-traded funds next month tied to Samsung Electronics and SK Hynix, raising expectations that some retail money that moved to Hong Kong for similar products could shift back to the domestic market. According to the Korea Securities Depository, as of April 24 the “CSOP SK Hynix Daily 2X Leveraged ETF (XL2CSOPHYNIX)” ranked seventh and the “CSOP Samsung Electronics Daily 2X Leveraged ETF (XL2CSOPSMSN)” ranked 10th among Hong Kong stocks held by South Korean investors. The custody amounts were $104.78 million and $74.11 million, respectively — nearly 264 billion won in total. Both ranking and holdings rose from the end of March, when the two products stood at 10th ($54.95 million) and 11th ($43.45 million). With upbeat expectations for the semiconductor cycle, demand from South Korean investors had continued to flow into Hong Kong, where single-stock 2x leveraged ETFs have been available. The underlying shares also climbed sharply from April 1 to 24: Samsung Electronics rose 31.28% and SK Hynix gained 51.43%. Over the same period, South Korean investors’ Hong Kong trading was concentrated in the two ETFs. For the SK Hynix 2x ETF, investors bought $40.27 million and sold $48.96 million. For the Samsung Electronics 2x ETF, they bought $23.75 million and sold $19.36 million. With the domestic launch of single-stock leveraged ETFs approaching on May 22, the financial investment industry is increasingly discussing whether demand that headed to Hong Kong could return. Industry officials point to convenience and taxes. Hong Kong-listed ETFs require converting won into Hong Kong dollars and factoring in foreign-exchange gains or losses, while domestic ETFs can be traded without currency conversion. Tax treatment also differs: capital gains on overseas-listed ETFs are subject to capital gains tax, while trading gains on domestically listed ETFs are effectively not taxed. Another factor is the so-called domestic market return account (RIA). Investors who bought the Hong Kong-listed Samsung Electronics or SK Hynix 2x ETFs before Dec. 23 last year can sell them by the end of May and reinvest in domestic ETFs to receive a 100% deduction benefit. At the time, South Korean investors’ custody amount in those products was about $49.61 million, or roughly 73.2 billion won. “Because there were no single-stock leveraged products in Korea, a large share of demand moved to the Hong Kong market,” a financial investment industry official said. “After domestic listing, the lack of currency-conversion burden and the tax advantages could lead to a shift of funds into domestic ETFs, especially among individual investors.”* This article has been translated by AI. 2026-04-28 16:22:53
  • Korea Financial Investment Association Launches Mandatory Online Course for Single-Stock Leveraged, Inverse Products
    Korea Financial Investment Association Launches Mandatory Online Course for Single-Stock Leveraged, Inverse Products The Korea Financial Investment Association has created a mandatory pre-trade education course for investors seeking to trade single-stock leveraged and inverse exchange-listed products, strengthening investor protections for high-risk instruments. The association’s Financial Investment Education Institute said on the 28th that it opened an online course titled “Pre-Trade Education for Single-Stock Leveraged and Inverse Exchange-Listed Product Trading.” The requirement was introduced ahead of the May 22 launch of single-stock leveraged (±2x) products based on leading South Korean shares. Completion is required for anyone who wants to invest in single-stock leveraged or inverse products. Investors must register the completion number issued after finishing the course in their brokerage system before they can place trades. The curriculum focuses on how leveraged products work and the risks involved, including concepts such as negative compounding effects and leverage. It also includes quizzes and a pre-investment checklist to test understanding. Investors must choose the appropriate course depending on what they plan to trade. A combined program covering single-stock leveraged and inverse products totals two hours (one hour basic plus one hour advanced). Those investing only in single-stock products can take a separate one-hour advanced course. Existing investors in leveraged ETFs and ETNs are also subject to the same pre-trade education requirement. The association said the training will help investors better understand the products and improve their ability to make rational investment decisions. The course has been available since 10 a.m. that day and can be accessed by applying through the Financial Investment Education Institute’s website. * This article has been translated by AI. 2026-04-28 15:05:17
  • Songwon Industrial Shares Jump to 52-Week High After Q1 Preliminary Results
    Songwon Industrial Shares Jump to 52-Week High After Q1 Preliminary Results Songwon Industrial shares surged after the company released preliminary first-quarter results, hitting a new 52-week high. As of 2:40 p.m., the stock was trading at 14,270 won, up 3,070 won (27.41%) from the previous session, according to the Korea Exchange. Shares jumped after the results were disclosed at 12:55 p.m., and rose as high as 14,560 won during the session, marking a 52-week high. On a consolidated basis, Songwon Industrial posted preliminary net profit of 18.091 billion won for the first quarter, up 272.5% from a year earlier. It swung to profit from a net loss of 2.736 billion won in the fourth quarter of last year. Operating profit came to 26.558 billion won, up 142.8% from a year earlier. Songwon Industrial supplies additives and raw materials to manufacturers in petrochemicals and PVC processing, synthetic leather and coatings. About 85% of its revenue comes from overseas markets, including Europe and North and South America. The company previously attributed last year’s weak performance to worsening market conditions, saying “continued demand slowdown, ongoing margin pressure in key regions, and exchange-rate fluctuations negatively affected results across business divisions.” It added that in the fourth quarter, “oversupply in the market, weakened consumer sentiment, and intensified price competition compounded the difficulties.”* This article has been translated by AI. 2026-04-28 14:58:04
  • LG Electronics Shares Jump 7% on Expectations of Nvidia Physical AI Partnership
    LG Electronics Shares Jump 7% on Expectations of Nvidia Physical AI Partnership LG Electronics shares rose more than 7% on expectations of cooperation with Nvidia on physical AI. According to the Korea Exchange, as of 11:04 a.m. on the 28th, LG Electronics was trading at 139,600 won, up 9,600 won (7.38%) from the previous session. A Seoul Economic Daily report published the previous day said Ryu Jae-cheol, LG Electronics’ CEO, and Madison Huang, Nvidia’s senior director of Omniverse and robotics product marketing and the eldest daughter of Nvidia CEO Jensen Huang, were set to meet at LG’s headquarters in Seoul’s Yeouido district to discuss cooperation between the companies. The report said the talks are expected to include a review of ways to integrate LG’s home robot, “LG Cloiide,” unveiled at “CES 2026,” with Nvidia’s robotics platform, “Isaac.” Isaac is a platform that trains robots in a physics-based simulation environment. The simulation approach allows companies to test a range of scenarios in advance, reducing trial and error in real-world settings. LG Electronics is pursuing a strategy of first training Cloiide in a simulated environment and then applying it in the field to improve both development speed and overall performance. * This article has been translated by AI. 2026-04-28 11:19:05
  • Hyundai Motor Securities Raises LG Innotek Target Price 82% on Substrates, Optics Outlook
    Hyundai Motor Securities Raises LG Innotek Target Price 82% on Substrates, Optics Outlook Hyundai Motor Securities on 28 raised its target price for LG Innotek to 710,000 won from 390,000 won, an 82% increase, citing expectations for growth in its package-substrate business and improving conditions for its optical solutions unit. It maintained a “buy” rating. Analyst Kim Jong-bae said the stock’s recent surge reflected rising optimism about the package-substrate market, LG Innotek’s fast execution and near-term results. He added that a recovery in optical solutions “is a key basis” supporting earnings growth, and said growth potential should be higher than in 2021-2022, when the company’s expansion was centered on optics. LG Innotek reported first-quarter consolidated revenue of 5.5348 trillion won and operating profit of 295.3 billion won, well above market expectations. Revenue rose 11% from a year earlier and operating profit jumped 136%. The firm attributed the performance to favorable exchange rates, stable camera-module pricing and premium-led demand for North American smartphones. Hyundai Motor Securities expects strength to continue in the second quarter, estimating revenue of 4.9034 trillion won and operating profit of 137.9 billion won, up 25% and 1,063% year over year, respectively. It cited strong North American smartphone sales, a sustained weak won and improved conditions for camera pricing negotiations. The package-substrate business was highlighted as a key growth engine. The brokerage expects market-share gains in RF-SiP on the back of technical capabilities, and said a shift toward 6G and higher specifications could support a high-margin structure. Entry into FC-CSP for memory and FC-BGA for servers was also cited as a medium- to long-term growth driver. Despite the sharp rise in the share price, Kim said the stock still looks reasonable, trading at a 2026 price-to-earnings ratio of 12.4 and a price-to-book ratio of 1.9. He said the company has entered an upcycle in which both earnings and momentum are strengthening. * This article has been translated by AI. 2026-04-28 08:58:17
  • Delisting Tender Offers Rise in South Korea, but First-Round Successes Hit Zero This Year
    Delisting Tender Offers Rise in South Korea, but First-Round Successes Hit Zero This Year Tender offers aimed at delisting are increasing, but the share that closes successfully is falling. After revisions to the Commercial Act strengthened minority shareholder rights, the decision-making process has become more demanding, and second and third tender offers are becoming more common. According to the financial investment industry on the 27th, global private equity firm EQT acquired an additional 1,213,466 common shares through a second tender offer for Douzone Bizon conducted from March 27 to April 22. Excluding treasury shares, EQT secured a 94.0% stake including preferred shares, putting the company on track for delisting. Other companies have also struggled to complete tender offers this year. Roswell carried out two rounds of a delisting tender offer but failed to reach its target stake. Eco Marketing extended its bid to a third round after participation remained insufficient following a second offer. E-Mart secured 66.45% in the first tender offer for Shinsegae Food, but its push for a comprehensive share swap merger was slowed after the Financial Supervisory Service issued two correction orders. Taken together, the industry has seen virtually no cases this year in which a delisting tender offer succeeded in a single round. Data from the Financial Supervisory Service’s electronic disclosure system show the annual number of tender offers, based on tender offer filings, rose from 10 in 2010 to a record 26 in 2024, then 21 in 2025. Of 12 tender offers involving KOSPI- and KOSDAQ-listed companies this year, nine were aimed at delisting. Even as demand for delisting grows, completing these deals is becoming harder. Companies have stronger incentives to delist to reduce disclosure and internal control burdens and to gain greater management flexibility. But after the rule changes, price reviews by special committees and the collection of minority shareholder views have effectively become required steps, adding complexity. Eco Marketing and Douzone Bizon said special committees led by outside directors reviewed the fairness of the tender offer price and minority shareholder protections and issued favorable opinions, reflecting the Justice Ministry’s “Guidelines on Directors’ Codes of Conduct” distributed in February. At the same time, shareholders’ expectations have risen, widening the standoff over delisting bids. With more activist investors and stronger demands for shareholder returns, more investors are refusing to tender when they judge the offer price to be low relative to corporate value. The industry expects the trend to continue. “In the past, tender offers were relatively easy to complete if a certain level of premium was offered, but recently minority shareholders have increasingly judged prices by factoring in corporate value and even a control premium,” a financial investment industry official said. “Tender offers aimed at delisting will likely keep increasing, but the share that actually closes could remain limited.” * This article has been translated by AI. 2026-04-27 17:51:39
  • Aigis Asset Management to Appoint Cho Gap-ju as CEO
    Aigis Asset Management to Appoint Cho Gap-ju as CEO Aigis Asset Management said it will appoint Cho Gap-ju, head of its new business initiative unit, as its new CEO. The company said on the 27th it plans to name Cho CEO at a board meeting scheduled for the 28th. Aigis said the appointment is intended to ensure continuity in managing client assets as changes in corporate governance proceed, while having an experienced executive directly review key issues and strengthen communication with stakeholders. Cho joined the firm in its early days in 2011 and served as CEO from 2015 to 2021. “I will do my best to work closely with key stakeholders, including institutional investors, so that protecting client assets and the company’s stable growth can be achieved together,” Cho said. The company said Cho will leave matters related to the stake sale to the shareholder representative and will personally ensure there is no disruption to major business operations while the sale process is underway. * This article has been translated by AI. 2026-04-27 14:57:14
  • POSCO Steelion Hits Daily Limit After Stock Split, Australia Data Center Supply News
    POSCO Steelion Hits Daily Limit After Stock Split, Australia Data Center Supply News POSCO Steelion shares surged to the daily limit as buying picked up after its stock split and investors reacted to expectations tied to supplies for an Australian data center project. As of 2 p.m. on the 27th, POSCO Steelion was trading at 7,030 won, up 1,620 won, or 29.94%, from the previous session, according to the Korea Exchange. The stock rose to the exchange’s price limit during the session, setting a new 52-week high. The stock has extended gains for three straight sessions since trading resumed after the split, rising 6.04% on the 23rd and 6.29% on the 24th. At its regular shareholders meeting on March 26, the company approved a 10-for-1 stock split. The par value per share was reduced to 500 won from 5,000 won, and the number of common shares outstanding increased to 60 million from 6 million. A stock split does not change a company’s value, but a lower per-share price can sometimes draw additional demand. Investor sentiment also appeared to be supported by news on the 24th that POSCO Steelion’s hot-dip aluminum-coated steel sheet, branded “ALCOSTA,” was selected as a key material for an Australian hyperscale data center construction project being pursued by a global information technology company. Some market participants speculated the project involves Nvidia, but that has not been confirmed. The company said it does not disclose details such as the counterparty, volume or contract value, depending on consultations with customers. * This article has been translated by AI. 2026-04-27 14:15:17