Daily Briefing · 2026-10-23

Affected by this, Korea's KOSPI also fell as much as 4.12 percent intraday, but SK Hynix rebounded, and the index ultimately closed up 0.30 percent at 5550.30. However, foreign investors net sold roughly 1 trillion won worth of shares over the day, showing signs of caution. The Bank of Korea froze its base rate at 3.00 percent per annum. The BOK Governor emphasized the principle of flexible, data-based rate decisions, responding to the market's assumption of further hikes. SK Hynix withdrew its push for the Nasdaq listing of its grandchild company, Solidigm. A fundraising plan worth tens of trillions of won was scrapped, but following the announcement, the stock price actually rose more than 4 percent. At Shinsegae Group, Chairman Chung Yong-jin returned as CEO of E-mart after 13 years, shifting to a direct management system. In the financial sector, the delinquency rate on won-denominated loans at domestic banks recorded 0.69 percent in August, the highest in 9 years and 10 months. In contrast, Hana Financial Group and Woori Financial Group achieved net profits in the 1 trillion won range in the third quarter, moving forward with treasury stock cancellations and expanded dividends. In the real estate market, Seoul apartment prices rose for a record 89th consecutive week, the longest streak on record, and actual transaction prices rose 15.5 percent, the largest increase since 2021. The Minister of Land, Infrastructure and Transport projected home price stabilization by year-end while acknowledging that housing construction start targets would not be met. In the aviation industry, a security incident occurred at Amadeus, which operates the joint reservation system for Korean Air and Asiana Airlines, and it was confirmed that customers' personal information was leaked. In industrial news, labor and management at HD Hyundai Heavy Industries reached a re-negotiated agreement including a 120,000 won wage increase, with a union member vote scheduled for the 27th. In contrast, the POSCO union, after wage negotiations broke down, has announced an indefinite strike starting November 2. Internationally, a cargo ship sank in the Black Sea following a Russian drone attack, raising concerns over disruptions to maritime logistics. In the crypto asset market, Bitcoin fell to the $81,000 range, with 89 percent of long positions liquidated, widening investor losses.