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Articles by Lee Bora
KOSPI plunges over 4%, sell-sidecar triggered…fallout from the U.S. midterm elections
The KOSPI index plunged more than 4% on the 5th, prompting a sell-sidecar on the main board. It is seen that investor sentiment was dampened after the Democratic Party won a landslide victory in the U.S. midterm elections held on the 3rd (local time), stoking concerns over tighter data center regulation and a slowdown in artificial intelligence (AI) investment. The Korea Exchange announced that at 10:16:19 a.m. that day, a sell-sidecar was triggered on the main board.
Hanyang Securities also hit by a hacking attack, leaking customer information
Amid a series of hacking-related data breaches in the financial sector recently, it has emerged that Hanyang Securities also experienced a data leak. Hanyang Securities stated on the 3rd that it confirmed on the 29th of last month that a hack by an external party led to the leak of some customer and employee information. The leaked information comprises 15 items of customer data, 2 items related to employees, and 14 items of general personal information.
From 2028, securities settlement cycle ‘2 trading days→1 trading day’... Exchange unveils roadmap
Starting in 2028, the settlement cycle in the domestic securities market will be shortened from the current two trading days (T+2) to one trading day (T+1). The Korea Exchange and other related institutions announced a joint roadmap to shorten the settlement cycle and decided to complete the related infrastructure by October next year.
After Mirae Asset, Toss also moves to acquire a Japanese securities firm… Financial companies set out to enter the Japanese market
Korean financial companies are pursuing acquisitions of Japanese securities firms in quick succession and are moving to enter the local market. With the Japanese stock market booming this year, much like the market in Korea, and the participation of individual investors increasing due to the Japanese government’s investment-promotion policies, they are seen as aiming to target the market there.
Were expectations for shareholder returns too high···Samsung Electronics shares fall 4%, giving back ‘6000p’
The KOSPI index gave back the 6,000 mark on the 29th, just one day after reclaiming it. Although Samsung Electronics announced strong results and shareholder-return measures, sentiment appears to have weakened as they fell short of heightened expectations among investors. The KOSPI closed at 5,937.66, down 74.78 points (1.24%) from the previous session. The KOSDAQ finished at 753.23, down 18.05 points (2.34%).
Mirae Asset Global Investments also hit by a hacking incident…“No customer information was leaked”
Mirae Asset Global Investments experienced an incident in which work-related information was leaked due to an external hacking attack. However, it has been determined that customer (investor) information was not leaked. Following banks and insurers, security incidents now appear to be spreading across the financial sector to securities firms and asset managers.
Bithumb “Personal information leaked due to hacking attack”…Security incidents reach virtual asset exchanges
At the virtual asset exchange Bithumb, an external hacking attack targeting its internal mobile system led to a personal information leak. Bithumb said on the 28th that on the 27th it became aware that personal information had been leaked due to abnormal access by an external unauthorized party to its internal mobile groupware system.
KOSPI buy-sidecar triggered on SK hynix-driven boost… surges 4%
As the KOSPI jumped more than 4% on the 28th, a buy-sidecar was triggered on the stock market (KOSPI). This is seen as a positive development stemming from SK hynix announcing an ‘earnings surprise’ and a large-scale shareholder return plan. The Korea Exchange disclosed that at 9:54:24 a.m. that day, a buy-sidecar was triggered on the KOSPI market. A KOSPI buy-sidecar is a mechanism that pauses program buying for five minutes to mitigate volatility.
Brokerages have been breached as well…Daishin Securities “30,000 customer records leaked in hack, no secondary damage”
On the 28th, Daishin Securities said that about 38,000 customer records were leaked due to an external hack and that it has moved to implement measures to prevent a recurrence. Security incidents appear to be spreading on all fronts, from banks and insurers to securities firms.
KOSPI closes up 3% on Anthropic mega IPO plan
Anthropic, developer of the generative artificial intelligence (AI) model ‘Claude’, has formally begun the process for a U.S. Nasdaq listing. Attention is on whether this offering will surpass the record for the largest initial public offering (IPO) set by SpaceX in June. Brokerage houses project that if the listing is a success, it could partly ease concerns about AI profitability and have a positive impact on domestic semiconductor stocks.
Samsung Electronics·SK hynix, is this the bottom···Brokerages: “KOSPI confirms a W-shaped bottom, Samsung Electronics·SK hynix to rebound in November” outlook
With the KOSPI index having passed its trough, brokerages project that domestic semiconductor stocks such as Samsung Electronics·SK hynix could rebound in November~December.
Where is 2030 money flowing amid a falling stock market?… Broker-issued note balances up 14-fold ‘soared’
As the domestic stock market has continued its downward trend in the second half, retail funds are flowing into broker-issued notes that offer stable interest income as an alternative to stocks. In particular, investment in broker-issued notes by the ‘2030’ younger cohort has been rising rapidly. According to Kiwoom Securities on the 21st, as of September 29 the average broker-issued note balance per individual customer was 94.68 million KRW. That is up 51% from January 2.
KOSPI surges 4%, buy-side sidecar triggered… recovers the 5,800 level
The KOSPI index rose 4% on the 21st, prompting a buy-side sidecar on the stock market (KOSPI). The Korea Exchange announced that a buy-side sidecar was triggered on the KOSPI market at 10:51:56 a.m. that day. A KOSPI buy-side sidecar is a mechanism that halts program buying for five minutes to ease volatility. It is triggered when KOSPI 200 futures remain up 5% from the previous close for one minute. As of 11:02 a.m., the KOSPI was up 247.81 points (4.46%) at 5,800.55.
They earn 100 trillion won per quarter, so why are foreign investors selling Samsung and Hynix?
This is the [What Is the Economy] column written by reporters on the Kyunghyang Shinmun business desk. We unpack and deliver economy-related news from the week in an easy and engaging way. Samsung Electronics and SK Hynix have posted record-breaking results, earning 100 trillion won per quarter, yet the procession of foreign investors in ‘sell’ mode is barely slowing.
The plunging KOSPI still rebounds 2%···Foreign investors turn to ‘buy’ after eight sessions
The KOSPI index, which had been extending a recent plunge, rebounded on the 16th for the first time in eight sessions. The KOSDAQ index also surged more than 4%, triggering a buy sidecar (temporary suspension of program buy orders) on the KOSDAQ market. This is seen as the result of bargain-hunting after the domestic market plunged more than 7% the previous day. The KOSPI closed at 5668.05, up 113.83 points (2.05%) from the previous session. The KOSDAQ finished at 794.78, up 33.96 points (4.46%).
Taxes on crypto profits are three months away... Eliminate blind spots in overseas and private transactions
Starting in January next year, income earned from virtual assets will be taxed. After three postponements, the government will finally implement the taxation regime. However, on the 13th there were calls for detailed standards to be established and the system to be refined before implementation.
KOSPI Buckles Under Foreign Selling, Barely Clings to the 6,000 Mark
The KOSPI index plunged more than 5% on the 13th, barely defending the ‘6,000 mark’. Samsung Electronics and SK hynix fell by about 7~10%, marking a ‘Black Tuesday’ for the domestic stock market. This resulted from foreign investors dumping Korean shares on a large scale as U.S. long-term Treasury yields continued to soar and news emerged of memory-technology advances at a Chinese semiconductor firm.
After work, what did ‘retail investors’ buy the most?···One month of the aftermarket
About one month after the Korea Exchange opened an aftermarket that allows stock trading during the commute home (4~8 p.m.), the stock most heavily bought by individual investors in the aftermarket turned out to be Samsung Electronics’ preferred shares. Foreign investors, by contrast, recorded the largest net purchases in SK hynix, showing divergent trading patterns.
Samsung Electronics stock failed to rebound despite an earnings surprise... Why?
On the 8th, Samsung Electronics reported a record performance, breaking through 100 trillion won in quarterly operating profit for the first time, but the stock did not rebound. Brokerages say expectations for improved earnings were already priced in, and investors have raised the bar for semiconductor stocks. Samsung Electronics closed at 262,000 won, down 2.42% from the previous session. The shares fluctuated around the flat line from early trading before finishing lower.
Korea Exchange defers ‘delisting for market-cap shortfall’ after court puts on the brakes
On the 7th, the Korea Exchange filed an objection to a court decision that put the brakes on delisting companies that fall short of the market-cap threshold. However, to prevent market disruption, it decided to defer future delisting procedures based on market-cap shortfalls.
In the early hours of the 5th, opening deposit accounts and new use of loans·card loans will be temporarily suspended
From 12:00 a.m. to 8:00 a.m. on the 5th, across the entire financial sector, new use of loans·card loans and some financial services such as opening deposit accounts via the internet·mobile will be suspended. Korea Credit Information Services announced on the 2nd that some financial services will be suspended due to a revamp of the general credit information system.
After the holidays, KOSPI gives up the 7000 mark again… Samsung Electronics·SK hynix plunge 5%
Returning from the Chuseok holiday, the KOSPI fell more than 2% on the 28th, surrendering the 7000 mark. This contrasts with the past pattern of rebounds after the Chuseok break. With U.S. Treasury yields surging and debate over a potential dual listing by SK hynix reigniting, investor sentiment appears to have weakened. The KOSPI closed at 6889.74, down 191.18 points (2.70%) from the previous session. The KOSDAQ finished at 846.58, up 2.1 points (0.25%).
Instead of going ‘all-in’ on Samsung Electronics and SK hynix, how about trying ‘Treasury bonds for individual investors’?
Recently, as the domestic stock market has been stuck in a range and policy rates and government bond yields in major economies have risen, more investors are turning to government bonds instead of stocks and bank deposits and savings. In particular, the ‘individual investor Treasury bond’, which has become purchasable through personal retirement pension accounts starting this month, is drawing attention as an alternative.
Cash gifts for parents during the Chuseok holiday also rose… averaging 213,000 won
It was found that cash gifts sent to parents for the Chuseok holiday have surpassed an average of 200,000 won. This is about a 40% increase compared to five years ago. Kakao Pay analyzed usage data for the Chuseok periods of 2021∼2025 for its ‘Remittance Envelope’ feature and, on the 21st, reported that the average amount users sent to the parent generation last year came to 213,000 won. Compared with the 2021 average of 154,000 won, it increased by 38% over five years.
If ‘salary’ is not indicated on the account, you cannot receive interest rate discount benefits… The Financial Supervisory Service urges consumers
Office worker Mr. Kim took out a credit loan through Bank A's mobile application (app), agreeing to a 0.4% interest rate reduction on the condition of salary transfers, and had been transferring his salary. However, because he did not register salary information with the bank, the interest rate reduction was not applied.
Won-dollar rate jumps 13.6 won, Korean Treasury yields stir… ‘dark clouds’ over corporate and household loans
Tension also builds in the domestic financial market If market rates rise, real estate is affected Companies face greater ‘financing’ burdens The upper end of mortgage rates could also reach the ‘8% range’ The stock market is less shaken as the outlook was priced in With the U.S. Federal Reserve implementing its first benchmark rate hike in three years and two months at the Federal Open Market Committee (FOMC) on the 16th (local time), tension is mounting in domestic financial·asset markets...
Won-dollar exchange rate, intraday 1,330-won range ‘touch’ for the first time in 1 year and 11 months
Down more than 200 won in two months… impact from foreign investors’ stock buying in the 2 trillion-won range Despite the possibility of U.S. rate hikes, the won stays strong… this week’s U.S. inflation is the ‘wild card’ The won-dollar exchange rate fell into the 1,330-won range intraday on the 7th for the first time in 1 year and 11 months. It dropped by more than 200 won in two months.
‘Samsung Electronics down 8%’ KOSPI closes lower…Samsung-related stocks also fall across the board
The KOSPI index ended down 3% on the 24th. The decline is seen as driven by a sharp sell-off in Samsung Electronics and related stocks after its shareholder-return policy fell short of market expectations, dragging the index lower. The KOSPI finished at 6,696.96, down 215.99 points (3.12%) from the previous session. The KOSDAQ closed at 813.33, up 11.39 points (1.42%) from the previous session. Samsung Electronics-related shares led the market lower.
‘Record-high shareholder returns’ announcement fails to prop up the stock···Samsung Electronics falls more than 7%
No concrete plan presented···Appears to fall short of market expectations Samsung Electronics shares are down more than 7% on the 24th. Despite the announcement last week of a record shareholder return policy, it appears to have fallen short of investor expectations, leading to selling pressure. As of 10:54 a.m. the same day, Samsung Electronics is trading at 261,250 won, down 7.19% from the previous session.
KOSPI plunges 6%, sell-sidecar triggered… fallout from surging government bond yields
On the 19th, the KOSPI index plunged 6%, triggering a sell-sidecar (a temporary suspension of program-trading sell orders) on the stock (KOSPI) market. The Korea Exchange announced that as of 9:06:02 a.m. that day, a sell-sidecar had been triggered on the stock market. A KOSPI sell-sidecar is a mechanism that pauses program selling for five minutes to reduce volatility. It is triggered when KOSPI 200 futures remain down 5% for one minute.
Among high earners at large conglomerates, 36% of compensation is stock-based···SK hynix President Kwak Noh-jung tops the list at ‘21.8 billion won’
In the first half of this year, 36.4% of the total compensation received by high earners who made 500 million won or more at large companies was stock-based. By group, SK and Doosan accounted for more than 60% of the total amount.
SpaceX lock-up on 900 million shares expired, yet the stock jumped 9%
With the expiration of the lock-up on SpaceX shares on the 6th local time, about 900 million shares hit the market. Although SpaceX stock had been trending lower recently, it surged on the day against expectations. According to CNN, CNBC, and others in the United States, as the lock-up for SpaceX employees and early investors ended that day, 911.5 million shares they held became tradable on the market.
‘Prevention of stockprice suppression’ government plan backlash… “A bad bill that lets large corporations slip through”
Immediately after the government announced a tax reform plan aimed at preventing socalled ‘stockprice suppression’deliberately pushing down share prices during the inheritance process of controlling shareholders to avoid taxescriticism mounted that it would be ineffective. Critics say that under the government plan many companies would be excluded from coverage, and even when applicable, the tax burden on controlling shareholders would be minimal.
Card spending by foreign visitors to Korea up 54% in H1… medical tourism spending doubles
An analysis found that spending by foreigners visiting Korea increased in the first half of this year, led by the medical sector. According to an analysis by BC Card on the 3rd, card spending by foreign visitors to Korea in the first half rose 53.6% from a year earlier, and the number of transactions increased 40.3%. The analysis aggregates nationality, spending category, and regional consumption patterns based on about 3.3 million cards used by foreigners.
OPEC+, agrees to increase output by 188,000 barrels per day from September
Seven countries belonging to the Organization of the Petroleum Exporting Countries (OPEC) and the wider group OPEC＋ agreed on the 2nd (local time) to implement an output increase of 188,000 barrels per day from September to stabilize the global crude market. The OPEC Secretariat said in a statement that Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman held a virtual meeting that day, reviewed global market conditions and outlook, and made this decision.
A colossal hunk of scrap metal will slam into the Moon at 8,700 km/h with a ‘bang’···If it explodes, a 27 m crater will form
SpaceX Falcon 9 debris weighing about 4500 kg is expected to impact the Moon Blast equivalent to 3 t of TNT···Debris likely observable from Earth South Korea lunar orbiter Danuri will gather images of the site before and after the impact Debris from a SpaceX rocket left adrift in space is expected to strike the lunar surface, the AP reported on the 31st of last month (local time), citing experts. The SpaceX rocket ‘Falcon 9’ was launched on January 15 last year carrying two lunar landers.
Iran conducts airstrike on Kuwait…“Countries that serve as a shield for the United States will burn in the flames”
Kuwait said that on the 1st (local time) Iran carried out an airstrike on Kuwait using unmanned aerial vehicles (UAV·drones). Saud Abdulaziz Al-Atwan, spokesperson for the Kuwait Ministry of National Defense, said, “Early this morning we detected and intercepted hostile drones within Kuwaiti airspace”, and stated that Iran targeted government facilities in northern Kuwait and vehicles on Bubiyan Island. As a result, several facilities were damaged, but there were no casualties, Al-Atwan said.
‘Customer data leak’ Lotte Card, 1.5-month business suspension·KRW 5 billion fine imposed
The Financial Services Commission has finalized sanctions against Lotte Card, where a hacking incident last year led to the leakage of information on 2.97 million customers, imposing a 1.5-month business suspension and a KRW 5 billion fine. This is the first time a business suspension has been imposed on a financial company over a hacking-related data breach. Under the sanctions, recruitment of new members by Lotte Card will be halted from next month through mid-September.
‘Samjeonnix pillar of fire’, KOSPI soars a record 18%…J.P. Morgan “Leveraged ETF liquidation virtually complete”
The domestic stock market on the 31st surged, logging the largest daily gain on record. The KOSPI, which had been pushed down to the 5,500 level, instantly reclaimed the 6,500 level. A sharp rally in large-cap semiconductor names drove the move as robust earnings from U.S. big-tech firms partly eased concerns about a slowdown in AI investment and reduced the likelihood of U.S. rate hikes.
Panic punctures the bottom of the domestic stock market… first-ever second straight day of circuit breakers
The domestic stock market plunged for a second straight day on the 29th, marking back-to-back ‘black days’. For the first time since the Korean stock market was launched, circuit breakers were triggered on both the KOSPI and KOSDAQ for two consecutive days. Brokerages had expected a floor for the KOSPI at the ‘6,000 level’, but even that gave way. As volatility in the domestic market intensified, investor sentiment contracted severely, leading to continued ‘panic sell’ (panic-driven selling).
Under the onslaught from Changxin Memory, ‘Samjeonnix‘ slumps···A ‘Black Tuesday’ with the KOSPI down 10%·KOSDAQ down 7%
On the 28th, the KOSPI and KOSDAQ plunged in tandem, bringing a ‘Black Tuesday’ to the domestic market. The move is seen as stemming from weakened investor sentiment toward domestic semiconductor shares following the blockbuster listing of Changxin Memory, the largest chipmaker in China, among other factors. Brokerages are watching whether earnings releases by big tech companies later this week can spark a rebound.
KOSPI plunges 8%, triggering a circuit breaker… the eighth time this year
On the 28th, the KOSPI index plunged 8%, triggering a circuit breaker on the KOSPI market. The circuit breaker halted all KOSPI trading for 20 minutes. This was the eighth time a circuit breaker was activated on the KOSPI market this year. The Korea Exchange announced that at 10:13:43 a.m. that day, a circuit breaker was triggered on the KOSPI market.
KOSPI plunges 5% with sell-sidecar… Samsung Electronics and SK hynix down 7-9%↓
The KOSPI index plunged 5% on the 28th, triggering a sell-sidecar (temporary suspension of program-trading sell orders) on the Stock Market (KOSPI). The Korea Exchange announced that as of 9:06:02 a.m. that day, a sell-sidecar was triggered on the stock market. A KOSPI sell-sidecar is a mechanism that halts program selling for five minutes to reduce volatility. It is activated when KOSPI 200 futures remain down 5% for one minute.
If the single stock leverage deposit for Samsung Electronics and SK Hynix is raised to 30 million won, what happens to existing investors?
This is the [What is the Economy] column written by Kyunghyang Shinmun Business Desk reporters. We explain the week in economic news in an easy and engaging way. The government announced on the 16th a set of supplementary measures for single stock leverage exchange-traded funds (ETFs) that track twice the one day returns of Samsung Electronics and SK Hynix, and on the 24th decided to move up the implementation timing of some measures.
KOSPI jumps 5%, buy-sidecar triggered… reclaims the 7,000 mark
The KOSPI index surged 5% on the 22nd, triggering a buy-sidecar (temporary suspension of program-trading buy quotes) for the second consecutive day. The Korea Exchange announced that at 9:06:02 a.m. today, a buy-sidecar was activated on the KOSPI market. A buy-sidecar is a mechanism that pauses program buying for 5 minutes to mitigate volatility. It is triggered when KOSPI 200 futures remain 5% higher than the previous session for 1 minute.
‘From FOMO to JOMO among retail investors··· As the market falls, “Lucky I did not buy”
As the KOSPI, which had been eyeing ‘10,000-sapi’, plunged to the ‘6,000 range’ within a month, the term ‘JOMO’(JOMO·Joy of Missing Out) is emerging among investors in place of ‘FOMO’(FOMO·Fear of Missing Out). The once pervasive impatience of ‘I am the only one who did not buy’ has given way to a spreading sense of relief that ‘it is fortunate not to have bought’.
KOSPI, 4% plunge triggers sell-sidecar… Samsung Electronics·SK hynix down 4%
On the 20th, the KOSPI index plunged 4%, triggering a sell-sidecar (temporary suspension of the effect of program-trading sell quotes) on the main board (KOSPI) market. The Korea Exchange announced that, as of 11:21:26 a.m. today, a sell-sidecar had been triggered on the main board market. A KOSPI sell-sidecar is a mechanism that halts program selling for five minutes to reduce volatility. It is triggered when KOSPI 200 futures fall by 5% and that condition persists for one minute.
‘Adding insult to injury’ KOSPI plunges 6%… with semiconductors wobbling and even a rate hike
On the 16th, the KOSPI index tumbled more than 6 percent, surrendering the ‘7,000 level’ again after just one day. Concerns surrounding the semiconductor cycle are turning the domestic market into a rollercoaster KOSPI. On top of that, the Bank of Korea’s rate hike appears to have further dented investor sentiment. The wondollar exchange rate edged down slightly. The KOSPI closed at 6,820.60, down 463.81 points (6.37 percent) from the previous session.
Emergency F4 meeting at 3 p.m. today… measures for Samsung Electronics·SK hynix leveraged ETFs to be announced
The government will hold an emergency market situation monitoring meeting (F4 meeting) on the afternoon of the 16th and announce supplementary measures for single-stock leveraged exchange-traded funds (ETFs) linked to Samsung Electronics·SK hynix.
‘The catfish shaking up the KOSPI’ What to do about Samsung Electronics·SK Hynix 2X···Will the financial authorities sharply raise entry barriers
KOSPI volatility has surged since leveraged products were launched The likelihood of extreme policies such as ‘delisting’ is low Discussion of sharply raising deposits as with the ELW rollout With KOSPI volatility amplified by single-stock leveraged exchange-traded funds (ETFs) that track twice the daily returns of Samsung Electronics and SK Hynix, the financial authorities are considering countermeasures.
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