Journalist

Choi Song-hee
  • Gold Prices Slide About 20%, Dragging Down Gold ETFs as Safe-Haven Appeal Wavers
    Gold Prices Slide About 20%, Dragging Down Gold ETFs as Safe-Haven Appeal Wavers Gold, long seen as a key safe-haven asset, has fallen sharply in the wake of the war in the Middle East, drawing attention to shifting and potentially volatile money flows into gold-related exchange-traded funds. As gold weakens despite heightened geopolitical risk, analysts say investor sentiment appears to be changing. According to the Korea Exchange on May 3, as of April 30 the domestic gold price on the KRX Gold Market was 217,240 won per gram, the lowest level so far this month. That is about 20% below the record high set on Jan. 29, when the closing price reached 269,810 won. The decline has weighed on gold ETF prices. Based on April 30 closing prices, ACE KRX Physical Gold ended at 30,340 won, TIGER KRX Physical Gold at 14,430 won, and KODEX Gold Futures (H) at 25,935 won, with all showing a broadly weaker trend. The drop is clearer compared with about two weeks earlier. On April 13, ACE KRX Physical Gold closed at 31,605 won, TIGER KRX Physical Gold at 15,115 won, and KODEX Gold Futures (H) at 26,870 won, indicating that ETF prices fell alongside the recent pullback in gold. Even compared with the post-war low on March 23, the rebound has been limited. As of April 30, ACE KRX Physical Gold rose about 3.67% from 29,265 won to 30,340 won, while TIGER KRX Physical Gold gained 8.20% from 13,970 won to 14,430 won. Over the same period, KODEX Gold Futures (H) climbed 7.17% from 24,200 won to 25,935 won. Market participants have pointed to a stronger dollar and shifts in global liquidity as key factors behind the sharp fall in gold. They also say that even as tensions in the Middle East have intensified, demand for safe-haven assets has spread to other areas, weakening gold’s relative appeal. Experts are watching for wider short-term swings in gold and related ETFs. They say the next direction for gold will depend heavily on U.S. interest-rate policy and the dollar’s path, and that investors in gold ETFs should be mindful of near-term volatility while taking a longer-term view. Still, some see a strong chance that prices could resume an upward trend over the medium to long term, supported by safe-haven demand and expectations around monetary policy.* This article has been translated by AI. 2026-05-03 15:45:18
  • Korea Market Cap Tops 6,000 Trillion Won as 405 Firms Join 1 Trillion Won Club
    Korea Market Cap Tops 6,000 Trillion Won as 405 Firms Join 1 Trillion Won Club South Korean stocks have repeatedly set record highs, pushing total market capitalization above 6,000 trillion won and lifting the number of listed companies worth at least 1 trillion won past 400. According to the Korea Exchange on Saturday, total market capitalization across the KOSPI, KOSDAQ and KONEX stood at 6,167 trillion won as of April 29. The number of listed firms with market caps of 1 trillion won or more, including preferred shares, totaled 405: 267 on the KOSPI, 137 on the KOSDAQ and one on KONEX. As of the same date, 79 companies were valued at 10 trillion won or more. The combined market value of listed companies in South Korea’s 10 largest business groups accounted for more than half of the total. As of April 30, their combined market cap was 3,832.6471 trillion won, up 1,517.4573 trillion won from the end of last year, when it stood at 2,315.1898 trillion won. The gains came as the market rally continued, including the KOSPI’s first intraday move above 6,700, the report said. SK Group posted the biggest increase. As of April 30, the combined market cap of its listed companies was 1,139.7587 trillion won, up 89.6% from 601.0122 trillion won at the end of last year. Samsung Group’s combined market cap rose 68%, to 1,684.1052 trillion won in April from 1,002.4979 trillion won at the end of last year. Hanwha Group’s total climbed about 50% to 173.7212 trillion won from 115.6744 trillion won, ranking third by growth rate. Other increases were reported for POSCO Group (46.5%), Hyundai Motor Group (46.0%), HD Hyundai Group (44.6%), Shinsegae Group (42.9%), Lotte Group (42.3%), GS Group (39.3%) and LG Group (26.9%). Kim Jong-min, an analyst at Samsung Securities, said strong earnings led by U.S. big tech and South Korean semiconductor companies have offset macroeconomic headwinds. He added that signs of improving global liquidity and a Korea-specific “money move” have helped support the market’s downside. Lee Kyung-min, an analyst at Daishin Securities, said the KOSPI’s uptrend is “entirely based on earnings,” and he expects the rise to continue until forward earnings per share begin to turn down. Still, Lee said that as first-quarter earnings season highlights gaps between expectations and results, the market is likely to see a short-term cooling period and profit-taking. He said that even if the broader uptrend remains intact, investors should be prepared for near-term swings as sentiment retreats. 2026-05-03 14:19:03
  • Foreign Buying Lifts Korea ETFs as Asset Managers Push Global Expansion
    Foreign Buying Lifts Korea ETFs as Asset Managers Push Global Expansion As the Kospi extends its gains, overseas investors are increasing demand for South Korea-listed exchange-traded funds.  According to the Korea Exchange on April 29, foreign investors bought about 510.1 billion won of the TIGER MSCI KOREA TR from March 27 through that day. They also posted net purchases of 91.2 billion won in the similarly structured KODEX MSCI KOREA TR.  Korean asset managers are moving beyond basic product management and accelerating efforts to tap overseas ETF markets through local listings, equity investments and strategic partnerships. The U.S., the Middle East and India are key targets.  Hanwha Asset Management is seeking to become the first Korean manager to list an ETF in the Middle East, aiming to capture new demand. It is preparing products for local investors, focusing on Gulf markets such as Saudi Arabia and the United Arab Emirates.  Mirae Asset Management operates ETFs in major markets including the United States, Canada, Australia and Japan under its Global X brand. Its overseas ETF net assets account for more than half of its total, reflecting progress in its global business.  Samsung Asset Management has taken a 20% stake in U.S. ETF manager Amplify, seeking to broaden its reach by listing ETF strategies proven in Korea in the local market. KB Asset Management launched what it said was the first Korea-listed ETF focused on India’s digital industry, while NH-Amundi Asset Management is expanding ETF distribution in Europe through cooperation with global manager Amundi. Korea Investment Trust Management has also listed an ETF in Vietnam and has posted strong profitability, the report said.  Industry officials say the rapid growth of Korea’s ETF market has built management capabilities that are now aligning with overseas demand. “As competition in domestic ETFs intensifies, global markets are emerging as a new growth breakthrough,” an asset management industry official said. “Overseas expansion that combines local listings and strategic partnerships will expand further.” Analysts also link the trend to changes in how global money flows into Korea. As overseas investors increasingly access the Korean market through index products rather than individual stocks, ETFs are effectively becoming a gateway for investing in Korea. In response, managers are stepping up strategies to improve access by pursuing local exchange listings and building global brands, rather than relying only on products listed in Korea.* This article has been translated by AI. 2026-04-29 18:24:15
  • S-Oil Jumps Nearly 12% as Crude Prices Surge on Stalled U.S.-Iran Talks
    S-Oil Jumps Nearly 12% as Crude Prices Surge on Stalled U.S.-Iran Talks International oil prices surged, lifting S-Oil shares by nearly 12%. According to the Korea Exchange, as of 2:22 p.m. on the 29th, S-Oil was trading at 132,900 won, up 14,200 won (11.96%) from the previous session. At the same time, SK Innovation was up 11,900 won (8.95%) at 144,900 won. Refining stocks were seen gaining as crude prices rose after U.S.-Iran ceasefire talks remained deadlocked, despite reports that the United Arab Emirates would leave the Organization of the Petroleum Exporting Countries, or OPEC. On April 28 (local time), ICE Futures Europe June Brent crude settled up 2.8% at $111.26 a barrel. On the New York Mercantile Exchange, June West Texas Intermediate rose 3.7% to $99.93. WTI briefly climbed back above $100 a barrel intraday for the first time since the 13th. Meanwhile, CNBC reported that the UAE’s decision to leave OPEC would weaken the group’s influence in the oil market and, over the longer term, could push international oil prices lower. The UAE is set to withdraw from OPEC and OPEC+ — OPEC and a broader alliance that includes Russia and 10 other major producers — effective next month on the 1st, a move expected to reduce OPEC’s pricing power.* This article has been translated by AI. 2026-04-29 14:41:26
  • Loa&Co Holdings to Buy Aloys Stake, Take Control and Expand AI Media Platform Plans
    Loa&Co Holdings to Buy Aloys Stake, Take Control and Expand AI Media Platform Plans Loa&Co Holdings said it has agreed to acquire control of KOSDAQ-listed Aloys, a company focused on media platforms, as the Loa&Co group seeks new growth engines. The company said April 29 that it signed a share purchase agreement to buy a combined 6,994,990 common shares, or 20.20%, held by Aloys CEO Shin Jeong-gwan, the company’s largest shareholder, and research director Lee Si-young. The total purchase price is 11.2 billion won, or 1,600 won per share. Once the deal is completed, Loa&Co Holdings will become Aloys’ largest shareholder, it said. Loa&Co Holdings said it will keep Shin’s management structure in place in recognition of the current leadership’s expertise and will retain all employees to ensure business continuity. It also said it plans to quickly resolve a recent control dispute involving Aloys and build a stable management environment by forming a capable board. The company said it will strengthen the global competitiveness of Aloys’ core business in OTT devices while expanding into next-generation media platform businesses that incorporate artificial intelligence. It said it plans to target global markets through AI-based content recommendations and platform upgrades. An Aloys official said the transaction will change the largest shareholder and remove uncertainty over control. “Based on a transparent and stable governance structure, we will be able to accelerate execution of our mid- to long-term growth strategy,” the official said. A Loa Holdings Company Group official called the investment a strategic decision to build a stable portfolio and said the group will actively support efforts to resolve Aloys’ control dispute and normalize management. “By combining the group’s content capabilities with Aloys’ technology, we will help it leap into a company that leads the AI-based media market,” the official said. 2026-04-29 14:24:21
  • Samsung SDI Shares Hit Intraday Record on Profit-Turnaround Hopes
    Samsung SDI Shares Hit Intraday Record on Profit-Turnaround Hopes Samsung SDI shares rose on Tuesday as expectations grew for a recovery in the second half of the year and a return to profit. As of 10:27 a.m., the stock was up 17,000 won, or 2.65%, from the previous session at 698,000 won, according to the Korea Exchange. It climbed as high as 706,000 won early in the session, setting a new intraday record. KB Securities cited improving results in maintaining its “buy” rating and raising its target price 60.4% to 850,000 won from 530,000 won. Kiwoom Securities also kept a “buy” rating and lifted its target price 70.8% to 820,000 won from 480,000 won. Shinhan Securities maintained “buy” and raised its target price 37.9% to 800,000 won from 580,000 won. Analysts also pointed to expanded shipments of mid- to large-size batteries as Samsung SDI supplies P6 high-nickel batteries for Hyundai Motor and Kia models including the Ioniq 3 and EV2, a factor expected to support a return to profit in the second half. Lee Hyun-wook, an analyst at IBK Investment & Securities, said North American energy storage system volumes appear to be fully booked through 2028, and that steady shipments combined with a recovery in the electric-vehicle market should drive a clearer earnings improvement. He said Samsung SDI could return to profit in the fourth quarter, its first in nine quarters.* This article has been translated by AI. 2026-04-29 10:41:12
  • Korea Investment & Securities: Hantech Leads Heat Exchanger Makers in North America Sales Share
    Korea Investment & Securities: Hantech Leads Heat Exchanger Makers in North America Sales Share Korea Investment & Securities said Tuesday that Hantech has the highest share of North American sales among South Korean heat exchanger makers. It did not provide a target price or investment rating. Kim Geon-woo, an analyst at Korea Investment & Securities, said Hantech is a maker of chemical-process equipment, with heat exchangers as its main product, and noted that liquefied natural gas, or LNG, infrastructure expansion is accelerating in the United States and Canada. He said the company is expected to benefit from a growing number of LNG terminals, which require liquefaction facilities, adding that North America accounts for 48% of Hantech’s revenue — the highest contribution among peers. Kim also forecast gains from increased investment by semiconductor companies. He said Hantech supplies ultra-low-temperature gas storage tanks installed at domestic semiconductor fabrication plants, and that major fab investment by customers this year is expected to drive orders. He cited expected large-scale investment including SK hynix’s Yongin semiconductor cluster Y1 and Samsung Electronics’ Pyeongtaek P5, and said construction of Pyeongtaek P4 Phase 2 will resume. He projected both revenue and orders will grow as downstream companies expand investment. Kim said new orders have topped 70 billion won, including a 28 billion won supply contract signed in January with Shintech Louisiana and an order for a U.S. ammonia project. He noted the figure does not yet include additional orders tied to U.S. LNG projects and South Korea’s semiconductor sector.* This article has been translated by AI. 2026-04-29 08:49:15
  • Hotel, Duty-Free and Casino Shares Rise on Expectations for Early May Holiday Travel
    Hotel, Duty-Free and Casino Shares Rise on Expectations for Early May Holiday Travel With an early May holiday stretch approaching, shares tied to hotels, casinos and duty-free shopping have been climbing on expectations of a travel boost. The gains come as foreign visitor numbers to South Korea have been rising, adding to optimism for a holiday-driven pickup in tourism and spending. According to the Korea Exchange on the 28th, major tourism and consumer-related stocks including Hotel Shilla, Hyundai Department Store and Lotte Tour Development posted steady gains over the week from the 20th to the 27th, holding up relatively well despite broader market volatility. Hotel Shilla extended its rally to seven straight sessions and closed up 5.31% at 69,400 won, compared with the previous trading day. The move is widely seen as reflecting expectations that more foreign tourists will arrive during the holiday period. Investors have been encouraged by a recovery in short-haul travel demand, particularly from China and Japan, fueling forecasts that more visitors will come to South Korea over the break. Industry watchers also view the broader inbound trend as improving. As tourism demand that had been gradually recovering after COVID-19 becomes more evident this year, analysts say expectations are growing for better results across duty-free, hotel and casino businesses. Some individual names have also drawn attention. GS P&L, which operates its own hotel chain including the Parnas Hotel in Seoul’s Samseong-dong, has seen its share price rise steadily since the 22nd, a move attributed to expectations for stronger hotel demand being priced in. Securities firms have offered upbeat assessments of the current inbound cycle. Lee Jin-hyeop, an analyst at Hanwha Investment & Securities, said, “The current domestic inbound cycle is better than Japan’s cycle in 2023 to 2024,” citing signs of a recovery in China’s economy this year and a stronger yuan reflecting that trend. Still, some in the market cautioned that the post-holiday trajectory will matter. With part of the holiday optimism already reflected in prices, the key variable for share performance will be whether actual tourist arrivals and spending meet expectations.* This article has been translated by AI. 2026-04-28 16:19:39
  • Daewoo E&C hits 52-week high as surprise Q1 profit jump lifts shares 17%
    Daewoo E&C hits 52-week high as surprise Q1 profit jump lifts shares 17% Daewoo Engineering & Construction shares surged after the company reported a surprise earnings beat. According to the Korea Exchange, Daewoo E&C was trading at 39,000 won as of 1:25 p.m. on the 28th, up 17.47% (5,800 won) from the previous session. The stock earlier climbed to 39,850 won, setting a new 52-week high. Daewoo E&C said its first-quarter operating profit rose 68.9% from a year earlier to 255.6 billion won. Revenue fell 6% to 1.9514 trillion won, while net profit jumped 237.6% to 195.8 billion won. The operating profit topped market expectations, marking the first time in 14 quarters the company posted operating profit in the 200 billion-won range. The company said profitability in its building construction business improved as projects launched during a period of rising construction costs were completed in sequence. Daewoo E&C said it plans to expand orders centered on energy infrastructure such as nuclear power plants and liquefied natural gas (LNG), as well as overseas urban development, data centers and urban renewal projects. Lee Eun-sang, an analyst at NH Investment & Securities, said Daewoo E&C is the most likely to participate as a construction partner in Team Korea. He added that with additional construction cooperation in the United States and Vietnam in mind, cost negotiations in the Czech Republic will be important, and Daewoo E&C has leverage because few domestic builders have lead-underwriter construction experience.* This article has been translated by AI. 2026-04-28 13:36:16
  • Kolon Industries shares jump 15% on hopes of demand shift after SABIC outage
    Kolon Industries shares jump 15% on hopes of demand shift after SABIC outage Kolon Industries surged after reports that a competitor’s production facilities for modified polyphenylene oxide, or mPPO, had halted operations.  According to the Korea Exchange, Kolon Industries was trading at 103,500 won as of 10:23 a.m. on the 28th, up 13,500 won, or 15.00%, from the previous session. The stock rose as high as 104,900 won early in the session, setting a new one-year high. Foreign media reported the previous day that a polyphenylene ether (PPE) resin plant operated by Saudi petrochemical giant SABIC has been shut since early April following Iranian airstrikes. PPE resin is the key feedstock for modified PPE, or mPPO. SABIC is a major supplier, accounting for about 70% of global PPO resin production. With supply disrupted, prices for related materials have also jumped. PCB prices in April were reported to have risen by as much as 40% from the previous month. The outage has raised expectations that substitute demand could shift to Kolon Industries’ mPPO, a competing product. Cho Hyun-ryeol, an analyst at Samsung Securities, said the situation could push Kolon Industries’ new plant utilization higher than expected. He said SABIC’s share had been dominant in the mPPO market for artificial intelligence copper-clad laminate, or CCL, resins, and that multiple CCL makers may seek additional capacity as part of efforts to diversify supply chains. Kolon Industries’ mPPO capacity was equivalent to 80 billion won in annual sales as of last year, and is expected to rise to 160 billion won once its new Gimcheon Plant No. 2 is completed. The company expects mechanical completion of the Gimcheon facility by the end of the second quarter this year.* This article has been translated by AI. 2026-04-28 10:34:49