Daily Briefing · 2026-10-02

Mortgage rates also jumped to 7.28%, raising concerns about a slowdown in US housing market transactions. Meanwhile, September US non-farm employment rose by only 29,000, far below expectations, and the unemployment rate rose to 4.2%. The employment shock actually boosted expectations for rate cuts, and the three major New York stock indices closed higher together. Domestic markets also benefited from the share buyback effects of Samsung Electronics and SK Hynix, with the KOSPI settling above the 7000 level. However, with 190 trillion won in foreign capital having left the market this year, breaking above the upper range of the trading band does not look easy. In the Middle East, Brent crude surpassed $100. Concerns over renewed conflict in the Middle East, the US troop reinforcement, and China's suspension of petroleum product exports have combined to heighten instability in energy markets. September exports reached $120.9 billion, an all-time record. Semiconductor exports surged 263%, making it likely that exports will surpass $1 trillion for the first time ever within the year. In the financial sector, six banks including Shinhan, KB Kookmin, Hana, and Busan Bank suffered Chinese-language AI-based hacking attacks, leaking customer information for roughly 25,000 people. Police have launched an internal investigation, and concerns are growing over secondary damage such as voice phishing. South Korea's APR1400 nuclear reactor is set to enter the US mainland market for the first time. It has been included in a 271 trillion won strategic investment project for the US, and improved earnings are expected for KEPCO E&C, Doosan Enerbility, and others. Samsung Electronics is projected to post 100 trillion won in operating profit for the third quarter, with its stock drawing attention as undervalued amid a memory supply shortage. However, SK Hynix's DRAM market share has fallen to 25%, as it faces pursuit from Micron. September consumer prices rose 2.9%, and core prices rose 2.8%, the highest level this year. Petroleum product prices surged 14.8%, and inflation is expected to re-expand into the 3% range in October. SK Group Chairman Chey Tae-won has decided to sell 944 billion won worth of his SK Inc. shares to respond to the property division lawsuit with director Roh Soh-young. In the automotive industry, Hyundai Motor's global sales fell 16%, while Kia posted its best-ever third-quarter results. HD Hyundai Heavy Industries faces inevitable renegotiation after the tentative wage agreement was rejected by union members. In political circles, Ha Joon-kyung, policy chief of the Lee Jae-myung administration's second-term economic team, signaled a policy stance of tightened loan regulations and strengthened holding taxes. Seoul housing prices rose 9.6% annually, the highest figure among all past administrations, with average apartment prices exceeding 1.5 billion won in 13 of the 25 districts.