Kospi plunges 5% despite Samsung's record earnings

The South Korean benchmark Kospi slumped nearly 5 percent Tuesday, despite market heavyweight Samsung Electronics posting a record-high quarterly operating profit earlier in the day. The benchmark index closed at 7,656.31, down 4.91 percent from the previous session. After opening just below the 8,000 mark at 7,919.2, the index extended its losses, falling below the 7,400 level and hitting an intraday low of 7,389.22. Although it later pared some of its losses, it failed to recover above the 7,7

2026-07-07 15:13:51:00

Samsung earnings, SK hynix ADR listing to test Kospi rally this week

After a volatile stretch, South Korea's stock market is bracing for two major chipmaker events that could determine its near-term direction: Samsung Electronics' preliminary second-quarter earnings and SK hynix's American depositary receipts listing in the US. Samsung Electronics is widely expected to post record-high earnings on Tuesday, buoyed by the artificial intelligence-driven chip boom. The market consensus calls for revenue of about 170 trillion won ($111 billion) and operating profit of

2026-07-06 14:54:39:00

KB Financial shortlists 6 candidates for chair post

KB Financial Group's race for its next chief is taking shape as the field narrows to six candidates, including incumbent Chair Yang Jong-hee, the group announced Friday. Following a meeting of its chairman candidate recommendation committee, the group announced it had shortlisted six candidates for the top post. The internal candidates are Yang; Lee Jae-keun, chief business officer of global, wealth management and corporate finance; Lee Chang-kwon, chief strategy officer; and Lee Hwan-ju, CEO of

2026-07-03 18:58:25:00

Will SK hynix's Nasdaq debut save troubled won?

South Korean chipmaker SK hynix's planned listing of American depositary receipts in the US could strengthen the ailing Korean won, which recently slid to its weakest level in 17 years against the dollar, providing a rare source of dollar inflows. The chipmaker plans to list its ADRs on the Nasdaq on July 10, aiming to raise as much as $30 billion in what would rank among the largest overseas equity offerings by a South Korean company. If a substantial portion of the dollar proceeds is repatriat

2026-07-03 17:34:49:00

Regulator set to sanction MBK over Homeplus handling

The Financial Supervisory Service, South Korea's financial watchdog, decided to recommend disciplinary actions against private equity giant MBK Partners on Thursday, reportedly including a suspension from duties. The sanction will be finalized through approval by the Financial Services Commission. The FSS did not disclose the level of the recommended sanction on the day. But sources familiar with the matter say the watchdog decided to maintain its previous recommendation to suspend MBK Partners

2026-07-03 14:31:52:00

Kospi tumbles 8% as AI demand fears hit chip stocks

South Korea's benchmark Kospi tumbled nearly 8 percent on Thursday, led by sharp losses in heavyweight chipmakers Samsung Electronics and SK hynix, tracking an overnight sell-off in US technology stocks as investors grew increasingly concerned about a slowdown in chip demand. The index fell below the 8,000-point mark at the open, triggering a sell-side sidecar, a five-minute curb on program trading, at 9:07 a.m. Although it briefly recovered above the threshold during intraday trading, it ultima

2026-07-02 15:10:00:00

Who rules Kospi? Samsung, SK hynix locked in battle for No. 1

Samsung Electronics' 26-year reign as the benchmark Kospi's most valuable company came to an end on June 22, when its crosstown rival SK hynix briefly overtook the tech giant in market capitalization. While Samsung Electronics' lead remains solid when preferred shares, worth roughly 165 trillion won ($106 billion), are included in its valuation, SK hynix's surge on a common-share basis has nevertheless challenged its long-standing dominance at the top of Korea's equity market. The shift was driv

2026-07-01 14:53:46:00

Mirae Asset denies communication error behind SpaceX IPO miss

Mirae Asset Securities on Wednesday denied a Bloomberg media report that claimed it failed to receive shares in SpaceX's initial public offering after not submitting binding orders, labeling it "defamatory." A Bloomberg report on Tuesday suggested that Mirae Asset, one of the syndicate members in the blockbuster listing, did not secure a single share of Elon Musk's rocket company following a "misunderstanding" in the process. The brokerage firm said the report was factually inaccurate, adding th

2026-07-01 10:56:36:00

Korean stock market braces for NPS rebalancing sell-off

The South Korean stock market faces a potential supply overhang as the National Pension Service, the world's third-largest pension fund by total assets, is expected to rebalance its domestic stock holdings from Wednesday, fueling concerns over a sizable sell-off. Though the benchmark Kospi's blistering rally is expected to have pushed its domestic equity weighting well above target levels, the pension fund had deferred rebalancing through the end of June, allowing it to maintain its expanded sto

2026-06-30 15:07:25:00

SK hynix ADR listing could attract W7tr in passive inflows: Mirae Asset

SK hynix's plan to begin trading American depositary receipts on the Nasdaq could lift its valuation to a new level, attracting an estimated 7 trillion won ($4.5 billion) in passive fund inflows, according to Mirae Asset Global Investments. "While SK hynix has long traded at a valuation discount due to its limited access to global investors, an ADR listing would significantly improve its accessibility to US institutional investors and passive funds," Jung Ui-hyeon, head of ETF management at Mira

2026-06-29 14:54:27:00