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World Cup '26: Not your typical TGIF if Team Korea kicks off and wins SEOUL, June 12 (AJP) - Few Friday lunch breaks could have been better. A long midday pause filled with live music, sunshine, a cool breeze, stress relief, shouting, groaning, jumping, dancing and, for some, a can of beer. For 90 minutes, South Koreans traded spreadsheets, classrooms and office meetings for something less tangible but equally important — a shared dose of pride, hope and celebration. Some took the entire day off. Others used half-day leave. Many stretched their lunch hour well beyond its usual limits. Companies wheeled televisions into break rooms, while public squares became giant outdoor stadiums. Some preferred air-conditioned offices. Others sought the collective roar of the crowd. At 11 a.m. on a weekday, South Korea's World Cup did not belong only to stadiums, sports bars or packed streets. It spilled into office lounges, classrooms, company cafeterias and the lunch-hour crowds gathered at Gwanghwamun Square. For workers stealing a few minutes between meetings, teachers watching between classes and fans unable to leave their desks for long, South Korea's opening match against Czechia became a World Cup squeezed into the middle of an ordinary workday. At Gwanghwamun Square in central Seoul, the answer was loud and public. The scene was uniquely Seoul: beneath the statue of King Sejong and framed by some of the country's largest digital displays, thousands gathered in a sea of red. The combination of history, technology and football created an atmosphere that felt both futuristic and unmistakably Korean. Before kickoff, CORTIS — a K-pop group under Big Hit Music, the label behind BTS — performed alongside rock band Transfixion in a joint set that included "For Victory," a song long associated with Korean football cheering. By kickoff, the broad plaza beneath King Sejong's statue had become a temporary stadium surrounded by office towers. Red jerseys filled the space between giant screens and food stalls. Drums echoed across the square as workers on lunch breaks stood shoulder to shoulder with students, tourists and longtime football fans. Among them were six employees from CJ Logistics who had hurried through lunch before joining the crowd. Their company had not organized a viewing event, but after hearing about the public cheering event nearby, they made their way to Gwanghwamun together — coffee cups in hand and office attire still on, knowing work would be waiting after the final whistle. "It would have been great to watch the match over chicken and beer, but just being able to spend the second half with this crowd was exciting," one employee said. "When Korea scored, I felt a real thrill. Today brought back a lot of memories from the 2002 World Cup." For others, the day was quieter but no less meaningful. There were no drums or sea of red shirts, only a cluster of employees gathered around the screen during their lunch break. When Czechia scored, the room fell silent. When South Korea equalized, someone let out a cheer before quickly remembering where they were. "We could not be at Gwanghwamun, but we still watched together with one heart," one employee said. "After Korea came back to win, everyone returned to their desks and got back to work." The same balancing act played out in schools. In a classroom in Seongnam, sixth-grade teacher Lee Hye-won sat alone at her desk while students ate lunch in the cafeteria. Student drawings lined the walls. The desks were empty and quiet. On her screen, South Korea was fighting for its first World Cup victory. "I wanted to be out at Gwanghwamun with the Red Devils, but I had to support the team in my own way," Lee said. "I ended up cheering in a very calm way, with a cup of coffee." At Gachon University, the academic affairs office looked much as it did on any other workday — computers on, files open and phones ringing. Choi Yoon-sung followed the match between tasks, with the game playing in one corner of the office while work continued around it. "Everyone still had their own responsibilities, so we had to find a balance between work and cheering," Choi said. "It felt like lunchtime was over in an instant." South Korea ended the day with a 2-1 comeback victory after Hwang In-beom equalized in the 67th minute and Oh Hyeon-gyu scored the winner in the 80th. The passion that once filled late-night streets during World Cups was still there on Friday. It had simply been compressed into lunch breaks, office lounges, coffee cups and small pockets of time carved out of an otherwise ordinary workday. For a couple of hours, work could wait. 2026-06-12 16:39:09 -
SK Networks Accelerates Shift to AI Company as Investment Results Begin to Show SK Networks is accelerating its transition to an artificial intelligence (AI)-focused business model. The company is moving away from its traditional operations in car rentals and telecommunications distribution, shifting towards a significant restructuring centered on AI, data, and robotics. As it marks the third year of its transformation into an AI company, market interest is growing as some investment results become visible.According to Mirae Asset Securities on June 12, SK Networks has emerged as the most purchased stock among the top 1% of investors over the past month, reflecting optimism about its shift to AI and expectations for improved performance.Over the past two years, the company has actively pursued its transition to an AI-centric business. Since the appointment of CEO Lee Ho-jung in 2023, SK Networks has sold SK Rent-a-Car, spun off Glowaide and SK Speedmate, and restructured its kitchen appliance business under SK Magic. This strategy aims to reduce the share of traditional businesses that once fueled growth and concentrate capital and resources on future growth areas like AI and robotics.A notable investment has been made in the domestic generative AI company Upstage. Following its initial investment in 2024, SK Networks has increased its stake to 12.9% through additional investments and the exercise of call options. Analysts suggest this move goes beyond mere financial investment, indicating a strategic partnership. Upstage's AI technology is expected to be integrated into SK Networks' operations and used to explore new business models.The company has also established a new AI organization. In 2024, SK Networks set up the 'Phoenix Lab' in Silicon Valley to develop AI technologies. This lab will collaborate with SK Networks and its subsidiaries to discover, invest in, and commercialize AI technologies. Last year, it launched a specialized AI solution for the pharmaceutical industry called 'Cheiron' and has been targeting the global market. Additionally, SK Networks secured $4 million in investments from global AI investors.The restructuring of its subsidiaries is also progressing. SK Magic changed its name to SK Intelix last year, signaling its transition to an AI and robotics company. This change reflects its intention to evolve beyond product sales and rentals into an AI-based service provider. Notably, it introduced an AI healthcare platform called 'Namux' last year and is now actively pursuing a wellness robot business. Recently, it signed a partnership agreement with Tower PMC, a premium residential management company, to expand the supply of wellness robots and AI-based home appliances in upscale residential areas in Gangnam and Seocho.Data operations are another key component of SK Networks' AI strategy. The company is nurturing Enco as a data specialist following its acquisition in 2023. Enco possesses competitive capabilities in enterprise data management and governance, essential for building the data infrastructure necessary for the expansion of AI services. As competition in AI model performance ultimately leads to a data competition, Enco's role is expected to grow.Recent results are becoming increasingly evident. In the first quarter of this year, SK Networks reported consolidated revenue of 1.7434 trillion won and operating profit of 33.4 billion won, marking increases of 6.5% and 102.4%, respectively, compared to the same period last year. The expansion of SK Intelix's subscription business and improved performance at Walkerhill contributed to these results. Notably, net profit surged to 42.7 billion won, significantly improving from the previous year.An industry insider noted, "The current results reflect gains from the appreciation of investment assets, and establishing a stable revenue model in new businesses like AI and robotics will be a future challenge. In particular, the performance of wellness robots, which SK Intelix is focusing on, is expected to draw attention."* This article has been translated by AI. 2026-06-12 16:36:00 -
SpaceX IPO fever meets Starlink's reality check in Asia SEOUL, June 12 (AJP) - SpaceX's record-shattering market debut is drawing fresh attention to Starlink, its satellite internet business, as investors look beyond rockets and Mars ambitions to identify the company's most important source of revenue. While SpaceX is best known for reusable rockets and the Starship program, analysts increasingly view Starlink as the company's financial engine. The low-Earth orbit satellite internet network has become SpaceX's largest business segment by revenue and one of its few consistently profitable operations. According to reports citing CNBC, Starlink's subscriber base has more than doubled over the past year to about 10.3 million users. Reuters reported that Starlink generated roughly 60 percent of SpaceX's $18.67 billion in revenue last year, underscoring why the satellite unit sits at the center of investor expectations following the company's highly anticipated IPO. Yet Starlink's global expansion is also exposing a reality often overshadowed by SpaceX's technological achievements. Launching satellites may be global. Selling internet access remains intensely local. From South Korea to India, Starlink is encountering a patchwork of telecom regulations, national security concerns and entrenched market structures that suggest growth may not be as straightforward as subscriber figures imply. South Korea offers a telling example. Starlink began commercial service in the country last December, but it has yet to show signs of becoming a meaningful alternative to existing broadband and mobile networks. One reason is simple: South Korea already possesses one of the world's most advanced terrestrial communications infrastructures. For most households, fiber-optic broadband and nationwide 5G services are cheaper, faster and easier to use than a satellite-based connection requiring dedicated equipment. Starlink's residential plan in Korea launched at 87,000 won ($57) per month, while customers must also purchase a standard terminal kit priced at 550,000 won. By comparison, major Korean broadband providers typically offer residential internet plans at around 22,000 won per month for 100 Mbps service, 33,000 won for 500 Mbps and 38,500 won for 1 Gbps under long-term contracts. Routers are often bundled into service packages or rented for a small monthly fee. The economics make it difficult for Starlink to compete directly in the mass consumer market. Some industry observers also question whether satellite internet can gain significant traction in a country where network coverage is already extensive. "In Korea, people can use mobile data even on mountaintops," one telecommunications industry official said. "Unlike the United States, Korea does not have large coverage gaps, so there are questions about how much satellite internet is really needed here." Instead, Starlink's more realistic opportunity in Korea appears to lie in business-to-business applications, particularly for ships, aircraft, offshore facilities, remote industrial sites and emergency communications networks where terrestrial infrastructure is unavailable or unreliable. Recognizing that reality, local operators such as SK Telink and KT SAT have largely positioned themselves as partners rather than direct competitors, using Starlink's network to expand satellite services for maritime and aviation customers. The challenge extends well beyond Korea. Astrome Technologies, an Indian satellite and wireless systems startup backed by South Korean venture capital firms in its early stages, argues that the industry's future will increasingly be shaped by national strategic interests as much as by technological capability. "With geopolitical tensions rising, every country now wants sovereign technological capabilities, especially in satellite communications," Astrome President Venkatesh Kumaran told AJP. India illustrates that concern vividly. Authorities have reportedly delayed final approvals for Starlink's commercial launch because of national security concerns. According to Bloomberg, agencies under India's Ministry of Home Affairs have withheld the clearances required for Starlink's operations, citing concerns that satellite terminals could be used during military conflicts or geopolitical crises. Reports that Starlink terminals were used in Iran despite the absence of a commercial license appear to have heightened concerns in New Delhi over whether India could maintain effective control over a foreign-operated communications network during periods of heightened tension. The Indian case highlights a broader challenge facing Starlink worldwide. Satellite internet is not merely another telecommunications service. During wars, natural disasters or political emergencies, it can become critical infrastructure with strategic and military significance. Low-Earth orbit satellite networks are particularly valuable because they do not depend entirely on cell towers, fiber-optic cables or fixed ground stations that can be damaged, disrupted or destroyed during conflicts. But that same advantage also fuels regulatory caution. If Starlink can sustain communications during one conflict, governments naturally ask whether the same capability could operate beyond their direct control during a future crisis. For investors captivated by SpaceX's blockbuster debut, that may be the most important reality check. The next phase of Starlink's growth will not be determined solely by how many satellites SpaceX can place in orbit. It will depend just as much on how many governments are willing to trust a foreign-owned communications network when national security is at stake. That challenge may prove far more difficult than reaching space. 2026-06-12 16:29:55 -
NH Investment & Securities Introduces New Leadership Structure After 10 Years NH Investment & Securities is set to unveil a new management structure a decade after its re-establishment. Following the merger of Woori Investment & Securities and NH Nonghyup Securities in 2015, the company is transitioning to a dual CEO system that separates investment banking (IB) and wealth management (WM), marking the beginning of its 'fourth leadership' era. This new leadership will be tested as it aims to lead the IMA business and compete in the large-scale IB sector. On June 12, the financial investment industry reported that NH Investment & Securities' Executive Candidate Recommendation Committee has nominated Shin Jae-wook, Head of the Real Estate Infrastructure Division, and Bae Kwang-soo, Head of the WM Division, as candidates for the next dual CEOs. Their appointment will be confirmed at an extraordinary shareholders' meeting on June 30, making it the first time the company will operate under a dual CEO system since its inception. NH Investment & Securities was established in January 2015 after Woori Investment & Securities was acquired by NH Financial Group in June 2014 and merged with NH Nonghyup Securities. The merger symbolized the birth of a major securities firm that combined the dual pillars of enhancing large-scale IB and strengthening retail competitiveness. The first leader after the re-establishment was Kim Won-kyu, who served as the CEO from December 2014 to March 2018. He focused on solidifying the foundation during the company's early days, prioritizing the integration of different organizational cultures and systems, and is credited with helping the merged entity establish itself in the market. The second leadership era was led by Jeong Young-chae, who successfully served three terms from 2018 to 2024, leading the company for nearly six years. He is recognized for elevating NH Investment & Securities' IB competitiveness to the highest level in the industry, achieving significant results in initial public offerings (IPOs), mergers and acquisitions (M&A), and real estate finance, while diversifying the company's revenue structure and breaking records for maximum profits. However, he also left behind challenges related to strengthening internal controls following the Optimus Fund incident. The subsequent leadership under Yoon Byeong-woon focused on expanding the business portfolio. In March of this year, the company received approval from the Financial Services Commission for its comprehensive investment account (IMA), becoming the third IMA operator in the industry after Korea Investment & Securities and Mirae Asset Securities. The IMA business is seen as a new revenue source for large-scale IBs, broadening NH Investment & Securities' growth foundation. The upcoming fourth leadership era is distinct from previous ones, as it introduces a dual CEO system for the first time, separating responsibilities for IB and WM. While this transition may necessitate adjustments in management strategies and organizational restructuring, both candidates have grown within the company, having previously worked at LG Investment & Securities, Woori Investment & Securities, and NH Investment & Securities, which is expected to contribute to organizational stability. Shin Jae-wook is regarded as an expert in real estate finance. He has handled IPOs, asset-backed securities (ABS), and project financing (PF) at LG Investment & Securities and has held positions at Korea Investment & Securities and Hanwha Securities before serving as the head of the Real Estate Finance Division and the IB2 Division at NH Investment & Securities. He is seen as well-suited to oversee the expansion of the IMA business and the development of new growth drivers, encompassing operations and wholesale strategies. Bae Kwang-soo, a wealth management expert, has experience in industry analysis, sales, and the Premier Blue organization after joining LG Investment & Securities and working at Woori Investment & Securities and NH Investment & Securities. He was appointed head of the WM Division last year and is expected to strengthen retail competitiveness through customer base expansion and the enhancement of digital asset management systems. Following the transition to a dual CEO system, NH Investment & Securities plans to operate a strategic resource allocation committee to enhance synergies between business divisions as an IMA operator. This committee will manage key management decisions regarding major investments and capital utilization from an integrated company perspective, clarifying roles and responsibilities for collaborative efforts. With its status as the third IMA operator in the industry secured, the new management's challenge will be to translate this into tangible growth drivers. As NH Investment & Securities marks its 10th anniversary since re-establishment, the industry is keenly observing whether the company can successfully navigate the intensified competition in the IB sector and the digital transformation of the retail market through its dual CEO system.* This article has been translated by AI. 2026-06-12 16:24:00 -
KOSPI surges over 4% as foreign buyers return after weeks of selling SEOUL, June 12 (AJP) - The KOSPI closed up 4.63 percent Friday, capping a volatile week with a broad rally as foreign investors returned to Korean stocks after weeks of relentless selling. South Korea's benchmark KOSPI closed up more than four percent on Friday, capping a volatile week with a broad rally as foreign investors returned to the market after weeks of relentless selling. The index gained 359.67 points or 4.63 percent, though it eased from a sharper morning advance that briefly pushed it above 8,400, suggesting lingering caution beneath the rebound. The recovery was led by chip stocks that had borne the brunt of the week's losses, though the gains were uneven. Samsung Electronics surged 7.86 percent to 322,500 won (US$212), while SK hynix trailed with a 2.33 percent gain to 2,150,000 won ($1,413), reversing the pattern seen for much of the week. The U.S. dollar rose 4.70 won to 1,523.70 won despite foreign buying. The day's standout was Hanmi Semiconductor, which surged 24.05 percent to 361,000 won, one of the sharpest single-day moves among the chip-equipment names. The rally followed easing U.S.-Iran tensions and the return of foreign capital, whose exodus had undercut the market even on its strongest days through the week. The gains extended across the region. In Tokyo, the Nikkei 225 climbed 2.81 percent to 66,020.04, Shanghai Composite added 1.12 percent to 4,031.51, its more restrained move fitting the pattern that has held all week, with South Korea and Japan, the markets most exposed to the global chip trade, swinging hardest in both directions. The week leaves the market roughly where it began after a series of moves rarely seen in succession, a circuit-breaker crash, a buy-side sidecar, and daily swings of more than 4 percent in every session. Whether the foreign buyers who returned Friday stay through the SpaceX listing that has pulled capital toward the Nasdaq is the question carrying into next week. 2026-06-12 16:20:35 -
Eunma Apartment Reconstruction Project Receives Approval for Public Review The Eunma Apartment, a symbol of reconstruction in Seoul's Gangnam area, has entered the public review phase for its reconstruction project, marking a significant step in the approval process. On June 12, the Gangnam District of Seoul announced the posting of the "Public Notice for the Approval of the Eunma Apartment Reconstruction Project" and made relevant documents available for public inspection until June 26. According to the district, the public review is being conducted to gather residents' opinions following the submission of the reconstruction project plan for the Eunma Apartment, located at 316 Daechi-dong, in accordance with the Urban and Residential Environment Maintenance Act. The project site covers an area of 243,552.6 square meters. The Eunma Apartment Reconstruction Project Association is the project implementer, and the reconstruction is expected to proceed over a period of 113 months from the approval date. Once completed, the new complex will consist of 29 buildings with 49 floors above ground and 6 basement levels, providing a total of 5,850 housing units. Of these, 4,746 units will be available for general sale, while 909 units will be designated as public rental housing and 195 units as public sale housing. The housing units will be distributed as follows: 1,107 units of 60 square meters or less, 2,858 units between 60 and 85 square meters, and 1,885 units larger than 85 square meters. The project will have a building coverage ratio of 21.66% and a floor area ratio of 331.52%, with a total floor area of 1,462,755.85 square meters. The maximum height of the buildings will be 177.85 meters. Infrastructure improvements will include a neighborhood park of 10,864.5 square meters, a small park of 6,814.5 square meters, roads covering 3,481.3 square meters, and a public facility (police station) of 240 square meters, which will be provided through a donation of the building. This project aims to transform the existing Eunma Apartment, which consists of 3,021 units and was completed in 1979, into a large residential complex. Discussions about its reconstruction have been ongoing since the 1990s. Previously, the Eunma Apartment project passed the integrated review by the Seoul city government in February and submitted the project plan for approval on May 22. Following this public review, the project will move forward with subsequent approval processes, including the management and disposal plan. The association aims to expedite the project with a target for relocation in the coming year and construction to begin by 2030. During the public review period, landowners and stakeholders within the project area can review the relevant documents available at the Gangnam District Office's Reconstruction Division and the Daechi 2-dong Community Center and submit their opinions. 2026-06-12 16:18:00 -
Hong Myung-bo Praises Players After South Korea's Comeback Win Over Czech Republic Hong Myung-bo, head coach of the South Korean national football team, credited his players for their hard-fought comeback victory in their opening match of the 2026 FIFA North America World Cup group stage. On June 12, South Korea defeated the Czech Republic 2-1 at the Estadio Guadalajara in Mexico's Sapopan, thanks to second-half goals from Hwang In-beom of Feyenoord and Oh Hyun-kyu of Beşiktaş. In a post-match press conference, Coach Hong stated, "Before the game, I told the players not to give up and to play as one. They fulfilled both of those messages. I want to sincerely congratulate our players on achieving our first World Cup victory." This marks Hong's second World Cup as head coach, and it is his first win in 12 years. In the 2014 Brazil tournament, his team finished with one draw and two losses, failing to advance from the group stage. "As a player, I also achieved my first World Cup victory after 12 years. Today, I am happy to have secured my first win as a coach in the World Cup," Hong said. "I believe this is our first group stage win in 16 years. This victory was made possible by the hard work of our players. I want to commend them for their efforts." A key factor in the victory was the team's altitude training conducted prior to the tournament. The squad held a pre-camp in Salt Lake City, Utah, for over two weeks before arriving in Guadalajara. Hong noted, "Ultimately, the altitude had a significant impact. We observed that the Czech players struggled physically in the second half, while our players pressed harder and attacked more aggressively during that time. The altitude training yielded good results." Hwang In-beom, who contributed one goal and one assist, and Oh Hyun-kyu, who scored the decisive goal after coming off the bench, were pivotal in the comeback. Hong praised Oh, saying, "He was a prepared substitute. Although he wasn't in top condition, he worked hard to improve his fitness and showed great performance." South Korea will face Mexico in their second group stage match on June 19 at 10 a.m. in the same venue. Mexico previously defeated South Africa 2-0 in their opening match. Regarding the upcoming match, Hong said, "I watched Mexico's game against South Africa. The home fans were very supportive, which will be a significant pressure for us. However, the good thing is that we have already played in this stadium. Still, facing the home team will be a considerable challenge." He added, "Both teams secured three points today. The next match is crucial for both sides. We will prepare well for the game against Mexico."* This article has been translated by AI. 2026-06-12 16:12:00 -
Justice and Gender Equality Ministries Form Legislative Committee to Support Female Violence Victims The government has decided to actively pursue legislative support activities in collaboration with relevant civic organizations to eradicate violence against women.On June 12, the Ministry of Justice established a legislative committee with the Ministry of Gender Equality and organizations supporting female violence victims, holding its first meeting to discuss specific operational methods.Attendees included officials from the Ministry of Justice and the Ministry of Gender Equality, as well as Kim Hye-jeong, head of the Korea Sexual Violence Counseling Center; Song Ran-hee, executive director of the Korean Women's Hotline; Lee Ha-young, co-representative of the National Coalition for the Resolution of Prostitution Issues; Jeon Da-un, chair of the Women's Rights Committee of the Lawyers for a Democratic Society; and Kim Yeo-jin, director of the Korea Cyber Sexual Violence Response Center.Participants exchanged broad opinions on priority legislative tasks related to intimate partner violence, proposed changes to terminology in the Sexual Violence Punishment Act, and the review of overseas legislative examples, among other discussion topics and the committee's schedule and methods.The formation of the committee and the first meeting followed a meeting with organizations supporting female violence victims on May 11, where officials gathered on-site opinions and assessed the current legislative situation, agreeing to consult with relevant agencies including the Ministry of Gender Equality.During that meeting, participants discussed the challenges and necessary improvements in the investigation and prosecution processes for sexual violence victims, proposed amendments to criminal law related to sexual violence, legislative directions reflecting the ongoing issues of intimate partner violence, difficulties faced by disabled sexual violence victims during investigations and prosecutions, improvements to the operation of public defenders for victims of sexual crimes, and legislative directions for amending laws to block demand for prostitution.Kim Hye-jeong expressed concerns during the meeting, stating, "If supplementary investigations by the prosecution become difficult, significant delays in the investigation and prosecution of sexual violence cases are expected, which would further exacerbate the suffering of victims," urging the Ministry of Justice to devise countermeasures.The Ministry of Justice, the Ministry of Gender Equality, and organizations supporting female violence victims plan to continue their communication and collaboration, holding follow-up meetings for in-depth discussions on related legislative tasks.* This article has been translated by AI. 2026-06-12 16:06:00 -
KOSPI Surges Over 4% Amid Easing Middle East Risks and Foreign Investor Return The KOSPI index surged more than 4% on June 12, driven by expectations of progress in negotiations between the U.S. and Iran, which eased Middle East risks, along with strong performance in U.S. semiconductor stocks. Foreign investors returned to the market after 25 trading days, contributing to the index's recovery above the 8,100 mark. The KOSDAQ also closed up over 3% due to institutional buying. According to the Korea Exchange, the KOSPI closed at 8,123.62, up 359.67 points (4.63%) from the previous trading day. The index opened at 8,263.85, up 499.90 points (6.44%), and expanded its gains in early trading. A buying sidecar was triggered in the securities market at 9:06 a.m. due to the sharp rise in KOSPI 200 futures. Although some gains were given back in the latter part of the session due to profit-taking, the index finished above 8,100. In the previous night’s trading on Wall Street, optimism surrounding a potential resolution in U.S.-Iran negotiations boosted risk appetite. On June 11 (local time), the Dow Jones Industrial Average rose 1.86%, the S&P 500 climbed 1.75%, and the Nasdaq increased by 2.54%. Notably, semiconductor stocks such as Micron (up 11.7%), Intel (up 9.3%), and NVIDIA (up 2.2%) contributed to improved investor sentiment in the domestic market. Lee Kyung-min, a researcher at Daishin Securities, noted, "The domestic market started with a gap up and expanded its gains, prompting a buying sidecar, but some profits were taken in the latter part of the session. The market is leaning towards the possibility of a peace agreement between the U.S. and Iran, strengthening the preference for risk assets." He added, "The fact that foreign investors engaged in simultaneous net buying in both cash and futures markets after 25 trading days is a positive factor for improving investor sentiment. The recent shift away from extreme concentration towards broader sector buying is also encouraging." On this day, foreign and institutional investors net bought 2.72 trillion won and 3.10 trillion won, respectively, driving the index higher. In contrast, individual investors net sold 5.60 trillion won. Among the top market capitalization stocks, Samsung Electronics rose 7.86%, SK Hynix increased by 2.33%, SK Square surged 10.59%, Hyundai Motor gained 1.68%, LG Energy Solution rose 4.03%, Samsung Life Insurance increased by 5.62%, Samsung C&T rose 5.37%, and HD Hyundai Heavy Industries gained 0.62%. However, Samsung Electro-Mechanics fell by 5.04%. By sector, semiconductor, shipbuilding, and defense stocks showed strong performance. Samsung Electronics and SK Hynix, along with SK Square, saw significant increases, while shipbuilding stocks such as Hanwha Ocean, Samsung Heavy Industries, and HD Korea Shipbuilding also attracted bargain-hunting interest, as did defense stocks like Hanwha Aerospace and Hyundai Rotem. The KOSDAQ index closed at 1,029.05, up 32.12 points (3.22%) from the previous trading day. In the KOSDAQ market, institutions net bought 641.5 billion won, while foreign and individual investors net sold 439.5 billion won and 264.2 billion won, respectively. Among the top market capitalization stocks, EcoPro BM rose 3.47%, EcoPro increased by 3.14%, Rino Technology gained 4.71%, and IOTechniques surged 21.43%. Wonik IPS hit the upper price limit, rising 30.00%. Conversely, Alteogen fell by 2.88%, Juseong Engineering dropped by 5.91%, Kolon TissueGene decreased by 0.39%, HLB fell by 2.74%, and Samchundang Pharmaceutical dropped by 0.57%.* This article has been translated by AI. 2026-06-12 16:03:00 -
Nomura: Semiconductor Supercycle Just Beginning, KOSPI to Reach 11,000 Global investment bank Nomura Securities has stated that the semiconductor supercycle driven by the rise of artificial intelligence (AI) has just begun, suggesting a potential reevaluation of domestic semiconductor companies. As demand for AI-driven memory continues to surge, there is an analysis that the valuation of the semiconductor sector, particularly for Samsung Electronics and SK Hynix, may expand significantly. At a media briefing on the 2026 South Korean economy and stock market held at the Seoul Finance Center on June 12, Jeong Chang-won, co-head of Asia Research at Nomura, noted, "This year's monthly memory sales show a vertical increase, which is something we have never seen before." He added, "Investors may wonder if they should sell when memory prices rise sharply and then stabilize, but the key factor is valuation. Considering this, I believe the semiconductor supercycle has just begun." Jeong emphasized that the phase where stock prices rise solely due to target price increases is about 80-90% complete, stating, "Now, it is crucial to confirm the sustainability of growth, which will lead to an increase in multiples." He particularly highlighted the surge in memory demand triggered by AI, predicting that AI-driven memory demand could increase by 10,000 to 20,000 times over the next five years, stating, "A market entirely different from the past is opening up." Addressing concerns about a potential slowdown in AI investments, Jeong clarified, "There were worries about reduced investments due to profitability issues among generative AI companies like OpenAI, Anthropic, and xAI, but those concerns have significantly eased. The market currently accepts that investments in AI infrastructure will continue." Last month, Nomura raised its KOSPI target from 8,000 to between 10,000 and 11,000, based on the belief that the semiconductor supercycle and rising corporate profits will drive the domestic stock market. Park Se-young, head of Korean Research at Nomura, stated, "The AI value chain will be a key driver of the market rally, along with industries benefiting from increased power demand, such as defense and automotive sectors." Nomura identified its top picks as Samsung Electronics, SK Hynix, Hyundai Rotem, Kia, and Samsung SDI. Park noted, "Even if the KOSPI rises to 11,000, the price-to-earnings ratio (PER) will still be around 13.5, which remains undervalued compared to major markets like Taiwan, the U.S., and Japan." He added, "The number of companies announcing value-up plans has increased from 170 at the end of last year to about 730 now, and there is also a rise in dividend expansions and share buybacks and cancellations. Improvements in corporate governance and enhanced shareholder returns are also factors for the reevaluation of the Korean stock market."* This article has been translated by AI. 2026-06-12 16:03:00