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Major Korean Brokerages Report Record Profits Amid Stock Market Boom Major securities firms in South Korea achieved record results in the first half of this year, driven by a booming stock market. The net profit of the top 10 brokerages surpassed 10 trillion won for the first time, fueled by increased trading volumes and brokerage revenues.According to the Financial Supervisory Services electronic disclosure system on August 16, the combined net profit of the top 10 securities firms (Mirae Asset, Korea Investment, Kiwoom, NH Investment, Samsung, KB, Shinhan, Meritz, Daishin, and Hana Securities) reached 10.2697 trillion won for the first half of the year. This marks an increase of approximately 129% compared to 4.4858 trillion won during the same period last year.In just the first half of this year, these firms have already exceeded their total net profit from the previous year, which was 9.9102 trillion won. They earned about 1.26 trillion won more than last year in just six months. Three firms—Mirae Asset Securities, Korea Investment Securities, and Kiwoom Securities—each reported net profits exceeding 1 trillion won, while eight out of the ten firms set new records for half-year performance.Mirae Asset Securities reported the highest net profit of 2.9072 trillion won, a 338% increase from the same period last year. In the second quarter alone, it earned 1.9052 trillion won, marking two consecutive quarters with net profits exceeding 1 trillion won. The significant growth was attributed to the expansion of its brokerage and wealth management (WM) divisions, along with gains from investments in companies like SpaceX.“While these results are historic, it is important to note that a significant portion of the net profit comes from investment asset valuation gains, so we need to distinguish between recurring earnings and one-time factors,” said Lim Hee-yeon, a researcher at Shinhan Investment Corp. “For the time being, fluctuations in SpaceXs stock price will inevitably increase profit volatility.”Korea Investment Securities followed with a net profit of 1.7311 trillion won for the first half, achieving record results across its key business segments, including brokerage, WM, investment banking (IB), and asset management. Kiwoom Securities also joined the 1 trillion club with a net profit of 1.1580 trillion won.NH Investment Securities and Samsung Securities reported net profits close to 1 trillion won, with NH Investment Securities at 965.2 billion won and Samsung Securities at 939.1 billion won. KB Securities reported 801 billion won, Shinhan Investment Securities 577.7 billion won, Meritz Securities 514 billion won, Daishin Securities 403.3 billion won, and Hana Securities 273.1 billion won.The key driver behind the strong performance of these brokerages was the brokerage segment. The domestic stock market showed strong performance in the first half of the year, leading to a significant increase in stock trading and corresponding growth in brokerage commission revenues. The combined brokerage commission revenue of the five major firms—Mirae Asset, Korea Investment, Samsung, NH Investment, and Kiwoom—totaled 4.1988 trillion won, a 174.9% increase from the same period last year.In addition to brokerage, growth in WM, IB, and asset management segments also supported the improvement in overall performance. While there are differences based on each firms business portfolio, the stock market boom has increased customer assets and expanded revenues from financial product sales and asset management, enhancing the overall revenue base.Looking ahead to the second half of the year, the flow of trading volumes in the domestic stock market is expected to be a key variable influencing the performance of securities firms. Given the sharp increase in brokerage revenues in the first half, a slowdown in trading volume growth could limit the expansion of related revenues. Therefore, the profitability of non-brokerage segments such as WM and IB, as well as diversification of business portfolios, are anticipated to play crucial roles in determining the performance of individual securities firms.* This article has been translated by AI. August 16, 2026 08: -
President Yoon Proposes New Vision for Peace and Opportunity on Liberation Day President Yoon Calls for New Liberation Focused on Hope, Opportunity, Balance, and PeacePresident Yoon Suk-yeol on August 15 proposed a journey to end the war and transform the Korean Peninsulas unstable armistice into a peace regime. He urged the initiation of discussions among the parties involved to conclude the long-standing conflict.In his speech at the 81st Liberation Day ceremony, President Yoon outlined three key principles for his policy on the Korean Peninsula: inclusive peaceful coexistence, stable peaceful coexistence, and responsible peaceful coexistence. He stated, Today, one year later, I want to present a blueprint to move beyond principles to practice, emphasizing the need for mutual respect and an end to unnecessary confrontations between the North and South.He called for a reduction of hostility in perceptions, norms, and institutions, expressing hope that both sides would sit down together for peaceful coexistence and joint growth. He stressed that this is not about concessions but the beginning of coexistence.President Yoon also promised to establish institutional safeguards to control military tensions and prevent accidental clashes. He stated, We need to create systems to manage tensions and conflicts, and take proactive and continuous peace measures while comprehensively reviewing the security situation around the Korean Peninsula.He expressed his intention to encourage North Koreas response to create a stable Korean Peninsula, hoping that their steps would lower military tensions in border areas and serve as a foundation for building trust and stability.President Yoon remarked, Peace on the Korean Peninsula will promote stability and cooperation in Northeast Asia and serve as a milestone toward a world without nuclear weapons, suggesting that discussions should begin among the parties to end the long-standing war and to find effective ways to halt North Koreas nuclear capabilities.In terms of South Korea-Japan relations, he expressed a desire to expand practical cooperation based on a sincere acknowledgment of historical issues. He noted that over the past year, the two countries have built a foundation of trust through shuttle diplomacy and have broadened cooperation in supply chains, energy, and advanced industries. He also mentioned the expansion of exchanges between future generations.President Yoon introduced a new national vision of an irreplaceable South Korea and a new liberation. He stated, We need a new liberation that will elevate South Korea to the next level, a country that the world needs, a nation that all countries want to cooperate with, and an irreplaceable South Korea that no other country can substitute.To achieve this, he announced plans to completely reallocate national resources and capabilities and to redraw the growth map. He aims to expand growth hubs concentrated in the metropolitan area across the entire country and to enhance growth potential through active investment in future industries.He emphasized, When the results of innovation and opportunities for future growth are evenly distributed, a bold vision will illuminate every corner of the peoples lives and foster courage for new challenges.Kim Min-seok Achieves Majority Vote in Honam, Expanding Lead Over Jeong Cheong-raeKim Min-seok, a candidate for the leadership of the Democratic Party, continued his winning streak by securing a majority of votes in Honam, a region expected to influence the party conventions outcome, significantly widening the gap with rival Jeong Cheong-rae. Before the Honam primary, the difference between the two candidates was only 1.48 percentage points.On August 15, So Byeong-hoon, head of the Central Partys Election Management Committee, announced the results at the Wonkwang University gymnasium. Kim received a total of 139,307 votes in Jeollanam-do and Jeollabuk-do, surpassing Jeongs 79,033 votes. Song Young-gil received 23,749 votes.Regionally, in Gwangju, Kim garnered 57.04% (86,558 votes), while Jeong received 31.84% (48,324 votes), and Song received 11.12% (16,874 votes). In Jeollabuk-do, Kim achieved 58.39% (52,749 votes), Jeong 34.00% (30,709 votes), and Song 7.61% (6,875 votes).Before the vote counting, the candidates emphasized their connections to Honam and appealed for support by referencing the late former President Kim Dae-jung, a symbol of Honam politics. Kim stated, I worked as the secretary to the party leader during President Kims administration 20 years ago. The Honam AI Mega Project is my dream and a historic gamble for President Yoon, and I will ensure its success. He added, With President Yoons firm commitment to the development of Jeollabuk-do, I will independently create a mega plan for Jeollabuk-do and become Mr. Saemangeum.Jeong introduced himself as the son-in-law of Honam, with my mother born in Jeollabuk-do, and highlighted the advancements made possible by the internet established by Kim Dae-jung, stating, Thanks to the internet, we became an internet powerhouse, and with a cultural policy of support without interference, we became a cultural powerhouse with BTS. The convergence of President Kims internet and President Yoons AI presents a golden opportunity for the rise of South Korea. He asserted, Once betrayed, one will betray again. I am confident that I, Jeong Cheong-rae, will be the one to remain loyal to President Yoon until the end.Song appealed, Please hold the hand of a son of Honam, and I will become the new center of Honam politics following President Kim. He emphasized his experience as the first young recruit brought in by President Kim, serving as a secretary to the late President Roh Moo-hyun, the head of the overall election campaign for former President Moon Jae-in, and the head of the overall election campaign for President Yoon. He declared, With the end of judicial reform, Jeong is no longer needed; I will now lead judicial reform.The Democratic Party will conduct a primary in Seoul and Gyeonggi Province on August 16, followed by a party convention in Daejeon on August 17 to establish a new leadership. The final election results for the party leader will reflect 70% of votes from party members and 30% from public opinion polls.People Power Party Demands Explanation for Dismissal of Trade ChiefThe People Power Party criticized President Yoon Suk-yeols dismissal of Yeo Han-goo, the head of the Ministry of Trade, Industry and Energys Trade Negotiation Headquarters, as irrational governance.In a statement on August 15, party spokesperson Jo Yong-sool questioned, Is it acceptable to leave a key position responsible for negotiating with foreign countries vacant without even providing a specific reason?Jo pointed out that the Yoon administration had promised a $350 billion investment in the U.S. without public consensus last year and is now facing pressure from the U.S. to expedite that commitment. He criticized the administration for abruptly dismissing the person responsible for those negotiations without any explanation.He added, The government remains silent, citing the judgment of the appointing authority without revealing specific reasons for the dismissal. What secret are they trying to hide? The Yoon administration must clearly explain to the public why they replaced the trade chief in the midst of U.S. trade negotiations without an alternative plan.Lee Jun-seok, leader of the Reform Party, also commented on Facebook, While reports indicate that the Trump administration is applying pressure regarding U.S. investments, the government dismissed Yeo Han-goo. Regardless of the reasons for the dismissal, the U.S. is bound to misunderstand this action.Lee urged the immediate appointment of a successor to ensure there is no gap in U.S. negotiations, warning that any disruption in U.S. diplomacy could have a more significant impact on the South Korean economy than the recent turmoil in the stock market.According to the Ministry of Industry, President Yoon dismissed Yeo at midnight on the same day. This unilateral dismissal of a civil servant is an unusual move in political appointments, but specific reasons for the dismissal have not been disclosed.Government Expresses Disappointment Over Japanese Officials Yasukuni Shrine VisitsOn August 15, the Ministry of Foreign Affairs criticized the Japanese political figures offerings and visits to the Yasukuni Shrine, stating, We cannot contain our disappointment.The Ministry of National Defense summoned Takeshi Nagayoshi, the Japanese defense attaché in South Korea, to express its protest against Defense Minister Shinjiro Koizumis visit to the shrine, the first by a sitting defense minister in two years.In a statement, the Foreign Ministry expressed, The government is deeply disappointed by the actions of responsible Japanese leaders who continue to glorify Japans past invasion wars and visit a shrine that enshrines war criminals, repeating outdated acts that disregard history.The Ministry urged Japanese leaders to confront history and demonstrate genuine reflection and remorse through their actions, emphasizing that this is a crucial foundation for building a future-oriented South Korea-Japan relationship based on trust.Kim Hak-jo, the International Policy Director of the Ministry of National Defense, summoned Nagayoshi to the Ministry of Defense to strongly protest Koizumis visit to the Yasukuni Shrine, expressing deep regret over the action.He stated that the visit contradicts efforts to establish a future-oriented relationship based on trust between South Korea and Japan and conveyed serious concerns regarding the matter.On this day, which marks both Koreas Liberation Day and Japans defeat, Japanese Prime Minister Sanae Takaichi did not visit the shrine but offered a monetary donation as the president of the Liberal Democratic Party. However, four current ministers, including Koizumi, visited the shrine, and key officials from the ruling party also participated in an unusual group visit.Prime Minister Han Seung-soo Urges Preparedness for Heavy Rain Forecasts in Southern CoastPrime Minister Han Seung-soo ordered proactive preparedness measures on August 15 in anticipation of heavy rain forecasted for the southern coast.According to the Prime Ministers Office, Han instructed, Given that heavy rainfall is expected during the vulnerable nighttime hours of the holiday period, ensure thorough preemptive checks, controls, and evacuations.He emphasized the need for thorough pre-checks and monitoring of vulnerable areas such as camping sites, underground roads, and low-lying homes, ensuring the safety of visitors and residents.Han also urged the swift dissemination of evacuation notices using available resources such as village broadcasts and sirens, and to pay attention to safety management in coastal and adjacent low-lying areas, considering rising sea levels.He instructed that relevant agencies maintain a state of emergency readiness and share information, while ensuring the safety of personnel responding on-site.The Korea Meteorological Administration forecasts rainfall from August 15 to 17, estimating 20 to 60 mm in Daejeon, Sejong, Chungnam, and Chungbuk (with some areas in Daejeon and southeastern Chungnam expected to exceed 80 mm), 50 to 100 mm in Gwangju and Jeollanam-do (with eastern Jeollanam-dos southern coast expected to exceed 200 mm), 30 to 80 mm in Jeollabuk-do, and 100 to 200 mm in the western southern coast of Gyeongnam (with some areas exceeding 250 mm).In Busan, Ulsan, and central Gyeongnams southern coast, rainfall is expected to be between 50 to 150 mm (with some areas in Busan and central Gyeongnam exceeding 200 mm), 50 to 100 mm in Daegu and Gyeongbuk (with some areas exceeding 120 mm), and 50 to 100 mm in Jeju (with mountainous areas exceeding 200 mm and mid-mountain areas exceeding 120 mm).Magnitude 7.7 Earthquake in Indonesias Flores Island Leaves at Least 20 DeadA magnitude 7.7 earthquake struck near the coast of Flores Island in eastern Indonesia, resulting in at least 20 fatalities and six injuries, according to AFP on August 15 (local time).According to Yonhap News, AFP reported that the earthquake occurred on the northern coast of Flores Island in the East Sunda Islands, resulting in 20 deaths across four villages, as confirmed by local rescue authorities.A representative stated, According to reports, six people were injured, and two remain trapped under the rubble.Authorities plan to focus on locating the trapped victims, but rescue operations are facing difficulties due to landslides blocking many roads.The earthquake struck at 5:58 a.m. local time, followed by 52 aftershocks ranging from magnitudes 3.6 to 6.2. Tremors were felt across most areas of Flores Island, and local rescue teams are conducting operations throughout the island.Indonesia is located on the Ring of Fire, a seismically active region prone to earthquakes and volcanic eruptions.* This article has been translated by AI. August 15, 2026 21:
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People Power Party Criticizes President for Dismissal of Trade Chief The People Power Party criticized President Lee Jae-myung for the dismissal of Yeo Han-goo, the Chief Trade Negotiator at the Ministry of Trade, Industry and Energy, calling it an irrational operation of the government. In a statement on the 15th, spokesperson Jo Yong-sool questioned, Is it acceptable to leave a key position responsible for negotiating with foreign countries vacant without even disclosing specific reasons? Jo pointed out that the Lee administration had promised a $350 billion investment in the U.S. without public consensus last year and is now facing pressure from the U.S. to expedite its implementation. He noted, Yet, the very person responsible for those negotiations has been dismissed without any explanation. He further stated, The government remains silent, citing the judgment of the appointing authority without revealing specific reasons for the dismissal. What secret are they trying to hide? The Lee administration must clearly explain to the public why they replaced the trade chief in the midst of U.S. trade negotiations without any alternatives. Lee Jun-seok, leader of the Reformist New Party, also commented on Facebook, stating, There are reports of pressure regarding U.S. investments coming from the Trump administration, and in the midst of this, the government has dismissed Chief Yeo. Regardless of the reasons for the dismissal, this action is bound to be misunderstood by the U.S. He urged the government to promptly appoint a successor to the Chief Trade Negotiator to ensure there is no gap in U.S. negotiations, warning that any disruption in U.S. diplomacy could have a more severe impact on the South Korean economy than the recent turmoil in the stock market. According to the Ministry of Trade, Industry and Energy, President Lee dismissed Yeo at midnight on the same day. This unilateral dismissal of a civil servant is an unusual measure in political appointments, but specific reasons for the dismissal have not been disclosed.* This article has been translated by AI. August 15, 2026 16:
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Korean retail investors reload on risk at home, abroad SEOUL, August 15 (AJP) - South Korean retail investors are edging back into risk after July's market washout, with brokerage cash returning above 100 trillion won, margin borrowing rising for a seventh straight session and traders piling back into a triple-leveraged U.S. semiconductor fund. Investor deposits — cash sitting in brokerage accounts and available for securities purchases — rose to 100.07 trillion won ($70.6 billion) on Aug. 13, up 91.9 billion won from the previous session, according to the Korea Financial Investment Association. The balance returned above 100 trillion won after three trading days. The rebound is modest compared with the liquidity that powered Korea's first-half stock frenzy. Investor deposits peaked at a record 139.69 trillion won on June 4, before sliding to 97.93 trillion won on Aug. 11. Even after the latest recovery, the pool remains nearly 40 trillion won, or 28 percent, below that peak. The decline did not necessarily mean investors have abandoned Korean equities. Some cash may already have been deployed into stocks or moved to other investments. Risk appetite itself has returned more quickly. Outstanding margin-financing loans rose to 30.93 trillion won on Aug. 13, marking a seventh consecutive increase. The balance had dropped to around 27.4 trillion won on Aug. 4 during the market's deleveraging, meaning borrowing has recovered by roughly 13 percent from that trough. The same willingness to take leveraged risk is showing up overseas. Korean investors net bought $662.85 million of Direxion Daily Semiconductor Bull 3X Shares, better known by its ticker SOXL, on Aug. 12 and 13, according to Korea Securities Depository's SEIBro portal. They bought $544.46 million on Aug. 12 and another $118.39 million the following day, abruptly reversing heavy selling earlier in the month. SOXL seeks to deliver three times the daily performance of the Philadelphia Semiconductor Index, making gains — and losses — substantially more volatile than movements in the underlying chip stocks. The latest purchases mark another sharp change of direction for Korea's so-called Seohak ants, a Korean term for individual investors trading foreign equities. Donghak (East-bound) refers to investors dedicated to home stocks. They had sold a net $1.64 billion of SOXL through Aug. 11, including $664.39 million on Aug. 3 alone, after aggressively accumulating the product during the previous month. The two-day buying spree reduced their August net selling in the fund to $976.08 million through Aug. 13. The reversal coincided with a rebound in U.S. semiconductor shares. The Philadelphia Semiconductor Index climbed to 12,456.00 on Aug. 13 from 10,447.49 on July 29 as fears that the semiconductor cycle was approaching a peak eased. SOXL itself rose more than 25 percent to $145.36 on Aug. 13 from $114.72 at the end of July. Korean investors' two-day net purchases of SOXL were about 13 times the $62.09 million they put into Alphabet, the second-biggest net purchase during the period. Their SOXL holdings were valued at $6.56 billion as of Aug. 12, making the leveraged fund their fourth-largest U.S. equity position after Tesla, Nvidia and Alphabet. SOXL had ranked only 10th at the end of April. The buildup follows months of unusually aggressive trading in the product. Korean investors net bought $40.87 million of SOXL in June before purchases exploded to $3.79 billion in July. They began August as heavy sellers before returning to the buy side this week. Their appetite for U.S. stocks more broadly has also held up. Korean investors were net buyers of $1.16 billion in U.S. equities through Aug. 13, extending a net-buying streak that began in June. July purchases were much larger at $4.67 billion. Amazon, SpaceX and Alphabet ranked as the three largest net purchases so far this month. AJP Takeaways Investor deposits recovered above 100 trillion won, but remain about 28 percent below their June record, showing that market liquidity has yet to return to first-half levels. Leverage is rebuilding faster than cash: margin-financing balances rose for a seventh session to 30.93 trillion won, while Korean investors bought $662.85 million of triple-leveraged SOXL in two days. The chip trade remains the center of retail risk-taking: SOXL has become Korean investors' fourth-largest U.S. equity holding despite the violent reversal between July's buying spree and early-August selling. August 15, 2026 14: -
Samsung, hynix literally 'people's stocks' with entries near 1 in 4 Koreans SEOUL, August 15 (AJP) - Minority-shareholder entries at Samsung Electronics and SK hynix nearly doubled from a year earlier to 11.43 million at the end of June, a tally equivalent to about 22 percent of South Korea's population, underscoring how the first-half chip frenzy dramatically broadened ownership of the country's two memory giants. Minority shareholders held nearly seven out of every 10 shares in both chipmakers — 66.24 percent of Samsung Electronics and 67.98 percent of SK hynix. The comparison is illustrative rather than a literal head count. Investors owning both Samsung and SK hynix are counted once by each company. Still, the pace expansion has been extraordinary. The two chipmakers had a combined 5.73 million minority-shareholder entries at the end of June 2025. The number increased by 5.70 million, or 99.5 percent, over the following 12 months. At the end of 2025, Samsung had 4,195,927 minority shareholders, while SK hynix had 1,186,328, putting their combined total at 5.38 million. In just six months, the two companies added about 6.05 million shareholder entries, an increase of 112 percent. Samsung's year-end figure comes from its business report, while SK hynix's filing put its end-2025 minority-shareholder base at 1.19 million. Samsung remained by far the more widely held stock as its price is more accessible. It closed Friday at 274,500 won ($193.77), roughly one-sixth of SK hynix's 1,645,000 won. Its minority-shareholder count reached a record 7,971,242 at the end of June, up 2.92 million from 5,049,085 a year earlier and 3.78 million from the end of 2025. The six-month increase alone was about 90 percent. The two stocks had a spectacular run this year, helped by AI chip boom. After turning higher in the second half of last year, the stock's monthly average price climbed from 65,087 won in July 2025 to 108,724 won in December. The rally accelerated this year, with Samsung moving above 150,000 won in January to peak at 374,500 won on June 19. SK hynix's pull was even greater. Its minority-shareholder base jumped to 3,461,526 at end-June from 681,671 a year earlier — an increase of 2.78 million, or about 408 percent. From the end of 2025 alone, the number nearly tripled. Minority shareholders held 67.98 percent of its issued shares at the end of June. The influx tracked SK hynix's rise to the center of the global artificial-intelligence investment boom. Demand for high-bandwidth memory, or HBM, used alongside AI processors propelled its earnings and valuation to unprecedented levels. On June 22, SK hynix briefly overtook Samsung Electronics as South Korea's most valuable listed company, ending the session with a market capitalization of about 2,080 trillion won. Samsung's minority shareholders held 66.24 percent of its issued shares at end-June, remarkably close to the 67.98 percent held by their counterparts at SK hynix. Minority shareholders collectively owned roughly two-thirds of each of Korea's flagship chipmakers, giving changes in dividends, buybacks, capital expenditure and governance unusually broad consequences for the investing public. Samsung has carried the nickname of a "people's stock" for years. Its minority-shareholder population jumped from 2.15 million at the end of 2020 to more than 5 million in 2021 during the pandemic-era retail-investing boom. The number later retreated as the stock struggled. By the end of 2025, Samsung's minority-shareholder count had fallen to 4.20 million, down from 5.16 million a year earlier, as recovering share prices encouraged some investors to take profits. The first half of 2026 reversed that trend with force. SK hynix followed an even steeper trajectory. Its minority-shareholder base stood at just 681,671 in June last year and 1.19 million at year-end before vaulting above 3.46 million six months later. After both stocks reached record highs in June, the market turned violently in July as leveraged positions unwound and investors reassessed valuations across the global AI trade. By July 30, Samsung had fallen 44.7 percent from its recent peak, while SK hynix had dropped 55.7 percent from its high, although both subsequently recovered part of those losses. The KOSPI ended July down about 22 percent, its worst monthly performance in years, after a rally heavily concentrated in its two semiconductor giants reversed. The first-half chip boom did more than reshape profits, market capitalization and the KOSPI. It expanded direct exposure to the semiconductor cycle across a far wider swath of Korean investors — spreading both the rewards of the AI boom and the risks of its volatility. AJP Takeaways Samsung Electronics and SK hynix recorded 11.43 million minority-shareholder entries at end-June, nearly double the 5.73 million recorded a year earlier and equivalent to about 22 percent of Korea's population. The influx accelerated during the first-half chip frenzy: their combined shareholder tally more than doubled from 5.38 million at the end of 2025, with SK hynix's count nearly tripling in six months. The boom also widened exposure to the downside. The shareholder figures were recorded near June's market peak, shortly before Samsung and SK hynix suffered steep declines during July's market rout. August 15, 2026 14: -
Chey divorce returns to court, buying time on record payout SEOUL, August 15 (AJP) —South Korea's biggest divorce settlement is heading back to the Supreme Court, giving SK Group Chairman Chey Tae-won more time to raise the 944 billion won ($669 million) in cash he has been ordered to pay his former wife while deferring immediate pressure on his corporate holdings. Chey filed another appeal Friday against the Seoul High Court's property-division ruling in his divorce from Roh Soh-yeong, director of Art Center Nabi, extending a legal battle that began in 2017 and delaying the point at which the record settlement becomes final. The appeal also holds off the 5 percent annual statutory interest that would begin accruing once the judgment becomes final and remains unpaid — about 47.2 billion won a year, or roughly 129 million won a day on the full award. For Chey and SK, the extra time matters. The court ordered the settlement to be paid in cash, allowing him to retain the SK Inc. shares underpinning his influence over the conglomerate, but leaving him to find nearly 1 trillion won without weakening that control. From presidential family to corporate dynasty Chey and Roh married at the presidential Blue House in September 1988, during the first year in office of Roh's father, Roh Tae-woo. The marriage joined one of South Korea's leading corporate families with its presidential household and lasted through decades of SK Group's expansion, financial crises and changes in the conglomerate's ownership structure. It publicly unraveled in 2015, when Chey disclosed in a three-page letter that he had fathered a daughter with another woman and said he no longer believed the marriage could be saved. Chey sought divorce mediation in 2017. After that failed, the case moved to court, and Roh filed a countersuit in 2019 seeking 300 million won in damages and about 6.48 million SK shares as part of the property division. The first ruling went overwhelmingly in Chey's favor. In December 2022, the Seoul Family Court ordered him to pay Roh 66.5 billion won in property division and 100 million won in damages, concluding that his SK shares were separate property rather than assets jointly accumulated during the marriage. Roh appealed, calling the award "a denial of women's commitment to the household." In May 2024, the Seoul High Court raised the property award to about 1.38 trillion won and damages to 2 billion won, finding that Roh had contributed to the formation, maintenance and growth of the marital estate, including Chey's SK Inc. holdings. At the heart of that decision was 30 billion won linked to former President Roh Tae-woo. Roh's lawyers presented a handwritten note preserved by her mother that included Sunkyong — SK's former name — alongside "30 billion won," arguing that the money had flowed to Chey's family and helped expand the conglomerate. Chey's side denied that SK received such support. The Supreme Court overturned the property-division portion of the ruling last October, finding that even if the money had been transferred, funds derived from illegal activity could not be recognized as Roh's legally protected contribution to the marital estate. The court left the divorce and 2 billion won damages award intact. On remand, the Seoul High Court excluded the disputed 30 billion won but again ruled that Chey's SK Inc. shares were subject to division, rejecting his argument that they constituted separate property acquired through inheritance or gifts. The court awarded Roh one-third of the couple's property and Chey two-thirds, producing the 944 billion won cash award — still more than 14 times the 66.5 billion won awarded at the first trial. The case has unfolded alongside a dramatic rise in the value of Chey's corporate holdings. SK hynix has emerged as one of the biggest beneficiaries of the global artificial-intelligence investment boom through its high-bandwidth memory chips used alongside AI processors, increasing investor attention on Chey's stake in SK Inc., the holding company through which he exercises influence over the group. The remand court kept April 16, 2024 — when arguments in the earlier appellate proceeding ended — as the valuation date for Chey's SK Inc. shares, setting their value at 160,000 won each. It rejected Roh's argument that the shares should instead be valued at the end of the remand proceedings, when the stock was trading above 800,000 won. The court nevertheless took the subsequent rise in share prices into consideration when setting Roh's share of the marital estate at one-third. Chey was allowed to retain his SK shares and satisfy the award in cash, avoiding a direct transfer of stock that could affect his grip on the conglomerate. That still leaves the question of how Chey would finance a payment approaching 1 trillion won if the award survives the second Supreme Court review. His marriage to Roh is legally over. The price of ending it is now back before the Supreme Court. AJP Takeaways: Chey appealed the 944 billion won property-division award, sending the financial portion of his divorce case back to the Supreme Court after nine years of litigation. The divorce itself is already final. Only the division of marital assets remains contested; a separate 2 billion won damages award has also been finalized. Corporate-control concerns remain central: The cash award allows Chey to retain his SK Inc. shares, but financing the payment could still draw scrutiny because those holdings underpin his influence over SK Group. August 15, 2026 09: -
KOSPI Surges 11% in a Week, Approaching 7000 Mark The KOSPI index has risen for five consecutive trading days, nearing the 7000 mark. Next week, the domestic stock market is expected to be influenced by semiconductor earnings and foreign investment trends. Analysts believe that the KOSPIs valuation normalization will continue, supported by easing inflation concerns in the U.S. and strong performances from AI infrastructure companies. However, profit-taking from the recent surge and geopolitical tensions in the Middle East are seen as potential variables.According to the Korea Exchange, the KOSPI closed at 6977.94, up 164.60 points (2.42%) from the previous trading day. Over the past week, it has jumped 719.17 points from 6258.77, marking an increase of 11.49%.The upward trend accelerated towards the end of the week. The KOSPI rose by 0.65% on August 10, 0.73% on August 11, and then surged by 3.68% and 3.56% on August 12 and 13, respectively. It continued to rise by 2.42% on August 14, marking five consecutive days of gains.Foreign investors have contributed to the indexs rise, with net purchases of 3.384 trillion won in the securities market on August 14, marking four consecutive days of net buying. In contrast, individual and institutional investors sold a net 1.9847 trillion won and 1.1269 trillion won, respectively, as they took profits.The KOSDAQ also saw an 8.24% increase this week, rising from 798.81 on August 7 to 864.65 on August 14. However, after a 6.97% surge on August 10, the gains from August 11 to 14 were limited to 0.12% to 0.39%, indicating a slowdown in the upward momentum following a sharp rebound in oversold stocks.Market analysts suggest that it may be time to refocus on large-cap stocks in the KOSPI following the short-term rebound from oversold conditions. Earnings estimates for the KOSPI continue to rise, and foreign capital is flowing into major semiconductor stocks like Samsung Electronics and SK Hynix.Investor sentiment surrounding semiconductors is also recovering quickly. South Koreas semiconductor exports from August 1 to 10 reached $10 billion, a 155.4% increase compared to the same period last year, with DRAM export prices continuing to rise. Additionally, strong performances and investment expansions from U.S. AI infrastructure companies like CoreWeave and Supermicro have alleviated concerns about demand in the AI sector.Given these improvements, the KOSPIs valuation burden is still considered low. The KOSPIs 12-month forward earnings per share (EPS) has increased to 1218.3 points, up from 1105.1 points at the end of June. However, the 12-month forward price-to-earnings ratio (PER) remains at around 5.6 times, indicating that the stock prices have not yet fully reflected the upward revisions in earnings forecasts.Na Jeong-hwan, a researcher at NH Investment & Securities, stated, As concerns about AI demand ease, the market is entering a recovery phase where it re-reflects earnings. Given that IT accounts for 77.3% of KOSPI net income, it is essential to maintain a focus on the IT sector.Lee Kyung-min, a researcher at Daishin Securities, noted, If concerns about the semiconductor industry subside and easing interest rate pressures are added, the KOSPIs valuation normalization will continue. In the short term, it is crucial to see if the index can stabilize between 6500 and 6800, as doing so could open up possibilities for further index level increases.* This article has been translated by AI. August 15, 2026 08:
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SK Group Chairman Chey Tae-won Appeals $944 Million Asset Division Ruling SK Group Chairman Chey Tae-won has filed an appeal against a ruling regarding the division of assets in his divorce from Art Center Nabi Director Noh So-young. This means the legal dispute over the 944 billion won ($944 million) asset division will once again be reviewed by the Supreme Court.According to the SK Supex Council on August 15, Cheys legal team submitted the appeal just before the deadline on August 14. They stated, Chairman Chey submitted the appeal after careful consideration of various circumstances, adding, We will approach the upcoming procedures with a commitment to minimize any negative impact on shareholders and group management. Previously, the Seoul High Court ruled on July 24 that Chey must pay Noh 944 billion won in asset division. This amount is approximately 436.8 billion won less than the 1.38 trillion won recognized in the second trial in 2024. The Supreme Court had sent the case back to the Seoul High Court last October, determining that a 30 billion won support from the late former President Roh Tae-woo, which was considered in the second trial, could not be counted as a contribution to the asset division.The appellate court recalculated the asset division amount to 944 billion won, evaluating the value of SK Inc. shares held by Chey as of April 16, 2024, the date of the conclusion of the appellate trial, and determining that one-third of this value equated to 944 billion won.The deadline for the appeal was August 14. If neither Chey nor Noh had appealed, the ruling for the 944 billion won asset division would have been finalized at midnight on August 15. Following the finalization of the ruling, an annual interest of 5% would apply to the unpaid asset division amount, resulting in an interest burden of approximately 130 million won per day.However, with Chey submitting the appeal, the ruling from the appellate court will not be finalized, and the case will return to the Supreme Court. This appeal prolongs the legal battle over asset division between Chey and Noh, which has been ongoing since Chey filed for divorce mediation in 2017.Legal experts suggest that Chey’s team may challenge the calculation of the asset division ratio, which reflects a fourfold increase in SK Inc. stock prices over the two years and three months from the end of the appellate trial to the end of the remand trial. If the Supreme Court finds issues with the calculation criteria, it could significantly reduce the asset division amount.In the business community, there are analyses suggesting that even if Chey sells his 29.39% stake in SK Siltron, he would only realize around 500 billion won. Therefore, to protect SK Groups management rights and minimize interest on the asset division amount, the appeal to the Supreme Court was deemed necessary. This strategy aims to avoid situations where stock-backed loans are taken against SK Inc. shares while ensuring stable management of SK Group. August 15, 2026 00:
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President Lee Confirms Plans for Constitutional Amendment to Introduce Four-Year Term Limits President Lee reaffirms plans for constitutional amendment to decentralize power President Lee Jae-myung has reiterated his proposal for a constitutional amendment aimed at decentralizing presidential powers and introducing a four-year term limit or re-election system. He stated that discussions on the amendment should be led by the National Assembly based on bipartisan agreement, and he is open to shortening his term if necessary to facilitate the amendments passage. On August 14, President Lee posted on X (formerly Twitter), The majority of the public agrees that our constitution, which has been in place for 40 years, is outdated and needs to be amended. If an amendment is to be made, it is preferable for the specific content to be determined through bipartisan agreement in the National Assembly. He outlined specific directions for the amendment, including enshrining the spirit of the May 18 Democratic Uprising and the Busan-Masan Democratic Movement in the preamble, adjusting the powers of the president and the National Assembly, introducing a four-year term limit or re-election system for the president, and strengthening local autonomy and citizens basic rights. Research Institute calls for reflection on An Sang-hos pro-Japanese actions The National Issues Research Institute has addressed the controversy surrounding actor Ha Youngs great-grandfather, An Sang-ho, stating that his pro-Japanese actions are clear and calling for historical reflection and remorse. The institute clarified that An Sang-hos exclusion from the Pro-Japanese Personnel Dictionary does not negate or absolve his pro-Japanese activities. On August 14, the institute issued a statement saying, The fact that he is not listed in the Pro-Japanese Personnel Dictionary does not mean he had no pro-Japanese actions. The National Issues Research Institute is a civic organization that published the dictionary in 2009. The institute explained that it released the statement in response to requests from citizens and members to clarify the facts amid growing media and online discussions about An Sang-hos pro-Japanese actions and the behavior of his descendants. Binance launches perpetual futures for Korean stocks, blocks local accounts Global cryptocurrency exchange Binance announced on August 14 the launch of perpetual futures that allow investments in companies such as Naver, LG Electronics, Samsung Electro-Mechanics, and Hanmi Semiconductor with leverage of up to 20 times. However, accounts verified under Korean names are currently blocked from accessing these products. According to the cryptocurrency industry, Binance began trading perpetual futures linked to domestic stocks, including Naver, LG Electronics, Samsung Electro-Mechanics, Hanmi Semiconductor, and the KODEX 200 ETF, on this date. These products can be traded 24/7 with up to 20 times leverage. While these products were previously available to Korean accounts, access has now been restricted. Industry sources believe this decision was made independently by Binance, not at the request of Korean financial authorities. The newly listed products track the prices of four stocks listed on the Korean stock market and the KODEX 200 ETF, allowing traders to bet on price fluctuations without holding the actual stocks, with settlements made in the stablecoin Tether (USDT). Democratic Republic of Congo reports Ebola death in new area, raising concerns In the Democratic Republic of Congo, a new area that had not previously reported Ebola cases has now seen a death, raising concerns about the spread of the virus. On August 14, Jean Kaseya, Secretary-General of the Africa Centers for Disease Control and Prevention, held a virtual press conference on August 13 (local time) and announced that a man who died in the northeastern province of Ituri tested positive for Ebola. Ahn Song-yi achieves milestone of 300 tournament cuts in KLPGA Ahn Song-yi has made history by becoming the first player in the Korea Ladies Professional Golf Association (KLPGA) Tour to pass the cut in 300 tournaments. She also expressed her ambition to challenge for the record of the oldest winner in the KLPGA Tour. On August 14, Ahn completed the second round of the KLPGA Tour Mediheal-Korea Daily Championship at the Myungseong Mountain Course (par 72) in Pocheon with a score of 3-under 141, placing her in a tie for 19th. She improved her score by two strokes from the previous day to make the cut. Broadcasting Commission reverses sanctions against fact-checking organization, issues apology The Broadcasting and Communications Commission has partially reversed sanctions against the fact-checking organization Party after a re-examination and issued an apology. This decision came after it was determined that there was no evidence of misuse of funds outside of labor costs. On August 14, the commission visited the social cooperative Party to express its apologies for the difficulties faced during the audit and administrative sanction process. Previously, the commission had announced in 2024 that an audit found evidence of misuse of funds by Party, which was an indirect beneficiary of the fact-checking project. As a result, it had canceled the 2025 grant decision and imposed a fine. OpenAIs annual revenue projected to exceed $40 billion, doubling in a year OpenAIs annual revenue has reportedly surpassed $40 billion. On August 14, it was reported that OpenAIs annual revenue has exceeded $40 billion, doubling from approximately $20 billion at the end of last year. The companys revenue has grown rapidly in recent months, partly due to the success of its coding models, as well as growth in subscription sales and its nascent advertising business. The consumer segment, which is its core business, is also said to be continuing to grow. August 14, 2026 22:
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Binance Launches Perpetual Futures with Up to 20x Leverage, Blocks Korean Accounts Global cryptocurrency exchange Binance has launched perpetual futures on August 14, allowing investments with up to 20x leverage on stocks including Naver, LG Electronics, Samsung Electro-Mechanics, and Hanmi Semiconductor. However, accounts verified under Korean names are blocked from accessing these products.According to the cryptocurrency industry, Binance began trading perpetual futures that track domestic stocks such as Naver, LG Electronics, Samsung Electro-Mechanics, Hanmi Semiconductor, and the KODEX 200 exchange-traded fund (ETF) starting today. These products can be traded 24/7 without holidays, offering up to 20x leverage.While these products were previously available to Korean accounts, access has now been restricted. Industry sources indicate that this decision was made independently by Binance and not at the request of Korean financial authorities.The newly launched products track the prices of four domestic listed companies—Naver, LG Electronics, Samsung Electro-Mechanics, and Hanmi Semiconductor—as well as the KODEX 200 ETF. They are structured as derivatives that allow betting on price fluctuations without holding the actual stocks, with settlements made in the stablecoin Tether (USDT).On June 2, Binance had also launched 20x leverage perpetual futures based on Samsung Electronics, SK Hynix, and Hyundai Motor. On June 22, it introduced futures products tracking the KOSPI 3x leverage ETF KORU listed on the U.S. stock market. The products launched in June can currently leverage up to 50x.Meanwhile, discussions continue regarding the applicability of domestic capital market laws. The launch of high-risk derivatives based on the stock prices of major domestic companies on foreign exchanges has raised concerns.Unregistered foreign exchanges MEXC and XT.com have also listed perpetual futures with up to 20x leverage tracking Naver and LG Electronics.* This article has been translated by AI. August 14, 2026 19:
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Hyundai Motor Group Chairman Chung Euisun Earns 4.5 Billion Won in First Half of 2026 Chung Euisun, chairman of Hyundai Motor Group, received a total of 4.5 billion won in compensation from Hyundai, Kia, and Hyundai Mobis in the first half of 2026.According to the Financial Supervisory Services electronic disclosure system on August 14, Chung earned 2.25 billion won from Hyundai, 1.35 billion won from Kia, and 900 million won from Hyundai Mobis. The total compensation remains the same as last year.Chung has been receiving salaries from Hyundai Mobis and Hyundai among the group’s affiliates until 2024, but he began receiving compensation from Kia last year.Among Hyundai Motors executives, CEO Jose Munoz received 2.456 billion won in the first half, while Kia CEO Song Ho-sung earned a total of 1.151 billion won, including 1,576 shares of free stock. Additionally, Hyundai Mobis CEO Lee Kyu-seok received 516 million won, and Jin Eun-sook, head of ICT at Hyundai Motor Group, earned 631 million won.* This article has been translated by AI. August 14, 2026 18:
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Toss Securities Reports Record Half-Year Profit of 319.5 Billion Won Amid Surge in Trading Volume Toss Securities has reported record figures for revenue, operating profit, and net income in the first half of this year. The surge in trading activity in both domestic and international stock markets has significantly boosted commission fee revenues.The companys cumulative revenue for the first half of the year reached 845.8 billion won, a 139% increase compared to the same period last year. Operating profit rose to 319.5 billion won, up 89%, while net income climbed to 236.8 billion won, an 80% increase. All three metrics represent the highest figures ever recorded for a half-year period.In the second quarter, Toss Securities also set new quarterly records. Revenue was 505.3 billion won, a 156.3% increase year-on-year. Operating profit reached 207.9 billion won, up 142.5%, and net income was 152.5 billion won, a 126% increase. All three indicators more than doubled compared to the same period last year.The growth in performance was driven by increased trading in domestic and international stocks. The cumulative trading volume of foreign securities in the first half was 367 trillion won, a 104% increase from the previous year. Domestic stock trading volume surged to 692 trillion won, marking a staggering 695% increase, nearly eight times higher.The rise in trading volume also led to a significant increase in commission fee revenues. In the first half, commission fee income reached 343.6 billion won, an 87% increase compared to the same period last year.The companys asset growth continued as well. By the end of the second quarter, Toss Securities assets surpassed 12 trillion won, a 146.4% increase year-on-year, nearly 2.5 times higher.A representative from Toss Securities stated, The activation of the stock market and the expansion of investment demand in the first half contributed to a steady increase in trading volume for both domestic and international stocks. The resulting increase in commission fees has driven strong performance, allowing us to maintain solid results.* This article has been translated by AI. August 14, 2026 17:
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Sangsang Investment & Securities Reports 11.1 Billion Won Profit in First Half of 2026 Sangsang Investment & Securities recorded a cumulative net profit of 11.1 billion won in the first half of 2026, continuing its profitability for two consecutive quarters. The company has increased the likelihood of an annual profit turnaround by generating steady earnings across its key business segments, including asset management, wholesale, investment banking (IB), and retail.According to Sangsang Investment & Securities, the cumulative net profit for the first half of the year was approximately 11.1 billion won. The company reduced its operating loss from 49.7 billion won in 2024 to 9.2 billion won last year, and it has reported profits in both the first and second quarters of this year.The improvement in performance was evident across all business segments, including asset management, wholesale, IB, and retail.In the asset management sector, the net profit for the second quarter was 3.9 billion won, a 77.3% increase from 2.2 billion won in the same period last year. The restructuring of the equity management team and adjustments to the management scale in response to market conditions contributed to this performance improvement.The bond underwriting sector also expanded its performance. In the first half of the year, the company underwrote 77 capital bonds worth 1.29 trillion won, ranking seventh among securities firms. It also underwrote 32 credit card bonds worth 500 billion won, placing twelfth. The total bond capital market (DCM) underwriting performance, including corporate and bank bonds, was recorded at 126 cases worth 2.55 trillion won.The wholesale sector saw a net profit of 2.4 billion won in the second quarter, a 79.3% increase compared to the same period last year. This growth was driven by an expanded institutional sales base due to upgrades in asset management ratings.The retail sector also turned a profit, with a net profit of 1.4 billion won in the second quarter, aided by cost efficiencies from branch consolidations and improvements in the mobile trading system (MTS).The IB sector reported a net profit of 1.4 billion won in the second quarter, marking a return to profitability compared to the same period last year. This was influenced by stable earnings from the real estate financing business, which was strengthened since the end of last year.Building on the improved performance in the first half, Sangsang Investment & Securities aims to achieve an annual operating profit of over 18 billion won this year. In the second half, the company plans to expand its stock brokerage business targeting institutional investors and improve bond sales performance due to interest rate stability. The newly established derivatives and proprietary stock management team will also be developed as an additional revenue source.Joo Won, CEO of Sangsang Investment & Securities, stated, The consecutive profits in the first half reflect the balanced business portfolio we have built to ensure that our overall revenue structure remains stable even amid market fluctuations. We will solidify this year as a turning point for Sangsang Investment & Securities to return to profitability.* This article has been translated by AI. August 14, 2026 17:
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Korean Stock Market's S7 Faces Diverging Earnings Expectations and Price Targets The long-term earnings outlook for the seven key stocks driving the domestic market, known as S7, is projected to reach record highs, while target prices in the securities industry are showing extreme divergence. This situation reflects both optimism that these stocks will boost the KOSPI index, similar to the U.S. markets Magnificent 7 (M7), and concerns over short-term market conditions and governance uncertainties, which could lead to increased volatility in stock prices.According to financial information provider FnGuide on August 14, the consensus for the annual operating profit of the S7 companies (Samsung Electronics, SK Hynix, SK Square, Samsung Electro-Mechanics, Samsung Life Insurance, Samsung C&T, and Samsung Electronics Preferred) for 2027 is estimated at 1,024.2 trillion won.Individually, Samsung Electronics is expected to generate an operating profit of 544.7 trillion won, while SK Hynix is projected to earn 391.8 trillion won. Other companies in the group, such as SK Square (54.7 trillion won), Samsung Life Insurance (5.5 trillion won), Samsung C&T (4.4 trillion won), and Samsung Electro-Mechanics (3.7 trillion won), follow behind.The combined operating profit of these companies is expected to continue its upward trend, reaching approximately 1,048.3 trillion won in 2028. In that year, Samsung Electronics is anticipated to become the first company to surpass 1,000 trillion won in sales, with SK Hynix also expected to exceed 540 trillion won in revenue.The anticipated surge in profits is attributed to the prolonged cycle of AI semiconductor demand, alongside expected benefits from governance restructuring and increased shareholder returns for SK Square and Samsung C&T, as well as rising demand for components for AI servers from Samsung Electro-Mechanics.Despite the astronomical earnings forecasts, the disparity in target prices set by securities firms is unusually large. Based on earnings estimates, the projected price-to-earnings ratio (PER) for 2028 shows that most key stocks, including Samsung Electronics (3.99 times) and SK Hynix (3.54 times), have entered extreme undervaluation territory, yet differing views on the sustainability of future profits remain unresolved.In the past month, target prices set by securities firms for Samsung Electronics range from 350,000 to 650,000 won, with the highest price being 1.9 times the lowest. For SK Hynix, the range is from 1,480,000 to 4,700,000 won, with a gap of 3.2 times between the highest and lowest estimates.This divergence in expectations has become more pronounced as major securities firms have adjusted their target prices this month. Kiwoom Securities lowered its target prices for Samsung Electronics (350,000 won) and SK Hynix (2,100,000 won) on August 10, reflecting concerns over a peak-out in AI memory demand.The downward adjustment of semiconductor stock target prices is cascading through affiliated companies due to interconnected shareholding structures. NH Investment & Securities lowered its target price for Samsung Life Insurance from 450,000 won to 390,000 won on August 14.Jung Jun-seop, a researcher at NH Investment & Securities, noted, While the value fluctuations in the financial sector are not significant, the decline in Samsung Electronics stock price has led to a decrease in the non-financial equity value from 56.6 trillion won to 47.1 trillion won. This reflects a structure where the stock price of Samsung Electronics directly impacts the corporate value of Samsung Life Insurance. Other firms, including LS Securities, Hanwha Investment & Securities, and Samsung Securities, have also lowered their target prices for Samsung Life Insurance.Conversely, there are also views advocating for higher target prices based on long-term shareholder return policies. Hana Securities raised its target price for Samsung Life Insurance from 302,000 won to 370,000 won on the same day. Go Yeon-soo, a researcher at Hana Securities, stated, If Samsung Electronics allocates resources for special dividends, the dividend per share (DPS) could increase to around 12,000 won by 2027. We should pay attention to the growth of new contract CSM based on overwhelming competitive advantages in exclusive channels. Kyobo Securities also raised its target price to 380,000 won.The significant differences in calculations among securities firms are attributed to several factors: concerns over a slight stagnation (-0.15%) in semiconductor growth in 2028 versus the view of a prolonged AI supercycle, differences in performance linkage among financial and component affiliates due to interest rate changes, and varying speeds of reflecting governance restructuring and share buyback policies.In the financial investment industry, there are warnings that the absolute market capitalization and profit share of S7 within the KOSPI could amplify overall market volatility due to these differing calculations. A representative from an asset management firm remarked, While S7 is a key driver for the KOSPI, the extreme divergence in target prices among securities firms indicates that future stock price volatility could be maximized. It is essential to be cautious of short-term capital flow volatility, regardless of long-term profit resilience.* This article has been translated by AI. August 14, 2026 17:
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Is the Seoul stock party over or just cooling down? SEOUL, August 14 (AJP) — South Korea's KOSPI has rebounded after a heavy crash in July. But the crazy roller-coaster ride has shifted to a duller plateau, with the main drivers quietly taking a back seat. The benchmark index flirted with 7,000 Friday, rebounding more than 30 percent from its late-July intraday low of 5,262.77. Yet trading activity and cash on standby remain well below the levels seen during the market frenzy in June. The ebb is evident. Investor deposits — cash held in brokerage accounts but not yet invested — stood just below 100 trillion won this week, after falling to 97.93 trillion won on Aug. 11, the lowest level in about six months and sharply below the nearly 140 trillion won reached in June. KOSPI turnover reached 26.73 trillion won Friday, around 40 percent of the 67.26 trillion won traded at the June 19 peak. The more subdued mood is also visible among retail investors. SK hynix closed 3.26 percent higher at 1,645,000 won Friday, but remained about 45 percent below its June 25 intraday peak of 2,987,000 won. Samsung Electronics also gained 1.87 percent higher at 273,000 won Friday after jumping 4.89 percent the previous day, but the stock remained about 27 percent below its June 19 intraday peak of 374,500 won. The online stock community sounded more skeptical than euphoric. “Is UBS covering its shorts?” one investor asked at 3:04 p.m., referring to trades routed through the Swiss investment bank's brokerage operation. Another pointed to “huge sell orders” appearing even as the stock advanced. The comments offer a glimpse of how sentiment has changed since the earlier surge. The herd is no longer simply chasing prices. Investors are becoming more inquisitive and selective. The bull market this time — although less spectacular than in June — has also become broader. Friday's gains spread across the market, led by wireless telecommunications services, up 8.07 percent, automobiles at 5.94 percent, oil and gas at 5.74 percent and auto parts at 4.85 percent, according to Naver Finance data. Of 155 auto-parts stocks, 96 advanced and 44 declined, while 56 of 92 food stocks gained. IT services rose 3.04 percent, with 64 stocks advancing against 50 decliners. The gains may be broadening, but the speculative fervor that defined the June run-up has yet to return. Less money chasing the rebound The contrast is clearest in turnover. KOSPI's average daily trading value reached 50.35 trillion won in June, when an artificial intelligence-driven rush into Samsung Electronics, SK hynix and leveraged products pushed activity to extraordinary levels. It fell to 36.88 trillion won in July and declined further to 25.90 trillion won between Aug. 3 and 14, according to AJP calculations based on Korea Exchange data. That was down 48.6 percent from the June average and 29.8 percent from July. Trading volume followed the same direction. An average 322.9 million shares changed hands per day between Aug. 3 and 14, compared with roughly 490 million in June. The numbers mark a clear break from June, when rising prices were accompanied by heavy turnover, leverage and a swelling pool of cash available for investment. Yoon Jae-hong, an analyst at Mirae Asset Securities, said the divergence reflects normalization after the extreme trading conditions earlier this summer rather than a wholesale retreat from the market. “Normalization is underway, and volatility is also coming down,” he said. “Money is gradually moving into other ETFs as well.” For now, however, investors appear reluctant to chase the rebound. “It doesn't look like the market is in a phase where investors are actively buying,” Yoon said. “They appear to be staying on the sidelines and watching for now.” He added that a further rise in share prices could eventually draw retail investors back into the market. Money moves to the sidelines Investor deposits offer another measure of how much the market has cooled. They peaked at 139.69 trillion won on June 4, according to the Korea Financial Investment Association, before falling to 97.93 trillion won on Aug. 11 — a decline of nearly 42 trillion won, or about 30 percent. Deposits edged back to 99.98 trillion won on Aug. 12 but remained nearly 40 trillion won below the June peak. The decline does not necessarily mean investors have abandoned Korean equities. Some cash may already have been deployed or shifted elsewhere. Combined with weaker turnover, however, it points to a market where investors remain interested but are less willing to commit fresh money aggressively. Risk appetite has not disappeared. Margin-financing balances climbed back to 30.42 trillion won on Aug. 12 after falling to 27.40 trillion won on Aug. 4, suggesting that speculative appetite survived the July washout even as the broader pool of liquidity shrank. Retail investors buy dips, sell rallies That more cautious approach becomes clearer in the way individuals are trading. Between Aug. 3 and 14, retail investors were net buyers of 2.14 trillion won of KOSPI-listed securities, while foreign investors bought a net 208 billion won and institutions sold 2.53 trillion won, according to KRX data. But retail buying was concentrated heavily on the market's worst days. Individuals bought 4.65 trillion won when the KOSPI plunged 5.12 percent on Aug. 3 and another 3.34 trillion won when it dropped 4.58 percent on Aug. 6. When the market rallied, they sold. Retail investors unloaded 3.19 trillion won as the KOSPI jumped 3.68 percent Wednesday and another 2.73 trillion won Thursday as the index gained 3.56 percent. Foreign investors bought 2.12 trillion won Thursday, while institutions added 681.2 billion won. The pattern continued Friday as the KOSPI rose another 2.41 percent. Retail investors sold about 1.89 trillion won while foreigners bought roughly 3.05 trillion won. Instead of chasing a rising market as they did during the earlier frenzy, individuals have increasingly bought sharp declines and sold into rebounds. They have not left the market. They have become more tactical. Thinner, but calmer The pullback in speculative activity has also brought one potentially stabilizing effect: lower volatility. The VKOSPI, which measures expected volatility in the KOSPI 200, stood at 55.26 Friday, sharply below its recent peak of 96.94, according to the KRX. The decline has coincided with tighter rules on single-stock leveraged exchange-traded funds and a sharp contraction in trading of those products. Yoon said the reduction in single-stock leveraged trading could make another bout of extreme volatility less likely. “It will be difficult to see the kind of volatility we saw before,” he said. “Trading in single-stock leveraged products has fallen significantly, making the kind of large-scale rebalancing flows we saw earlier much less likely.” With leveraged flows exerting less influence, the KOSPI may be less vulnerable to the mechanical buying and selling that magnified swings earlier this summer. The calmer environment, however, does not settle the question of what will drive the index higher from here. One view is that the chip-dominated phase of the rally is giving way to a broader advance as money rotates into telecom, autos, energy and other sectors. Another is that the KOSPI's next sustained rise will still depend heavily on Samsung Electronics and SK hynix, whose outsized weight gives them enormous influence over the benchmark. The two chipmakers were central to the KOSPI's extraordinary swings this year, with their combined market-cap weighting exceeding half of the index around the end of May. Yoon said Samsung Electronics may have an edge over SK hynix in the next phase after giving investors a clearer message on shareholder returns at its latest earnings announcement. “Samsung Electronics gave a clearer message on shareholder returns,” he said. “That could give it more room to rise than SK hynix.” The question now is whether broader sector rotation can carry the KOSPI higher without recreating June's semiconductor frenzy, or whether another sustained advance will ultimately require its chip heavyweights to take the lead again. For now, the evidence points less to investors abandoning Korean stocks than to the fading of the indiscriminate risk-taking that powered the first-half surge. The party has not necessarily ended. But this time, fewer people are on the floor — and those who remain are choosing their steps more carefully. August 14, 2026 17: