Domestic stock market declines have led to a significant drop in the valuation of major listed companies held by the National Pension Fund, which has decreased by over 182 trillion won in just three and a half months. Notably, the valuation losses from four stocks, including Samsung Electronics and SK Hynix, accounted for 82% of the total decline, indicating a substantial impact from the drop in large-cap stock prices.
According to an analysis by Yonhap News based on data from FnGuide, the valuation of stocks in 287 listed companies where the National Pension Fund held more than a 5% stake as of June 30 or October 15 was recorded at 333.533 trillion won. This marks a decrease of 182.396 trillion won (35.3%) compared to 515.929 trillion won at the end of June.
By individual stock, SK Hynix saw the largest valuation drop of 74.226 trillion won, while Samsung Electronics experienced a decline of 56.871 trillion won during the same period. Together, these two stocks accounted for 71.8% of the total valuation loss.
Additionally, SK Square and Samsung Electro-Mechanics reported valuation decreases of 10.869 trillion won and 7.591 trillion won, respectively. The combined losses from these four stocks reached 149.558 trillion won, representing 82.0% of the overall decline.
The decline in the stock prices of major semiconductor companies directly impacted the valuation losses. Samsung Electronics' stock price fell from 334,000 won at the end of June to 210,000 won on October 15, a drop of 37.1%. Similarly, SK Hynix's stock plummeted from 2.65 million won to 1.262 million won, a staggering 52.4% decrease. As of October 15, the National Pension Fund's ownership stakes were 7.84% in Samsung Electronics and 7.32% in SK Hynix.
In contrast, some energy and secondary battery-related stocks saw increases in valuation. SK Innovation's stock price rose from 94,900 won to 155,000 won, and its ownership stake in the National Pension Fund increased from 6.03% to 7.14%, resulting in a valuation increase of 904.1 billion won.
S-Oil, LG Energy Solution, and Hanwha Solutions also reported valuation increases of 710.7 billion won, 580.8 billion won, and 434.7 billion won, respectively.
Changes in the National Pension Fund's ownership stakes were also observed. The stake in GS Construction rose from 7.82% at the end of June to 12.88% on October 15, an increase of 5.06 percentage points. Hyundai Marine & Fire Insurance increased from 9.42% to 12.37%, and Binggrae rose from 6.47% to 9.37%.
Conversely, the stake in Paradise decreased from 12.33% to 8.39%, a drop of 3.94 percentage points. Samsung Biologics also saw a decline from 10.27% to 6.56%, a decrease of 3.71 percentage points.
By market, the reduction in stakes among KOSDAQ-listed companies was notable. Among the 84 stocks where the National Pension Fund increased its stake, only seven were KOSDAQ companies. In contrast, of the 82 stocks where the stake decreased, 21 were KOSDAQ companies. However, it is challenging to assess the actual scale of net buying and selling based solely on the number of stocks with changes in ownership stakes.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.