Daily Briefing · 2026-10-24

The surge in international oil prices, combined with the aftermath of the US 10-year Treasury yield breaking through 5%, caused the Dow Jones Industrial Average to plunge 1.23% on Wall Street. SK Hynix withdrew Solidigm's Nasdaq listing and announced a shareholder return plan worth over 30 trillion won, which led to a short-term rebound in its stock price, but the stock remains down 40% from its peak four months ago. Chinese semiconductor companies CXMT and YMTC are catching up to domestic firms in the DRAM and NAND markets through new technology and price competitiveness. The KOSPI index rose 0.3%, but declining stocks outnumbered advancing stocks by more than four to one, indicating the rebound was limited to a small number of large-cap stocks. Amid a KOSPI decline led by foreign investors, retail investors withdrew en masse, causing investor deposits to fall by more than 50 trillion won over four months. Amid weakening consumption among China's wealthy and geopolitical instability, Hermès shares fell to a four-year low, while Kering plunged 16% in a single day. As the special exception on Korea Electric Power Corporation's bond issuance limit is set to expire at the end of next year, the company is projected to exceed its statutory limit by 19 trillion won starting in 2028, making an electricity rate hike unavoidable. Chairman Kim Jong Un visited China to mark the opening of the New Yalu River Bridge, but the change in the official who received him—from Premier Li Qiang to Chairman Wang Huning—has raised the possibility of a shift in the level of North Korea-China economic cooperation. Global IT system operator Amadeus was hacked, leaking personal information of Korean Air and Asiana Airlines customers. A hacker group believed to be linked to North Korea was found to be plotting large-scale attacks targeting government and financial institutions by exploiting a PHP vulnerability. The Bank of Korea held its benchmark interest rate at 3%, with the Governor stating that a return to the era of ultra-low interest rates is unlikely. Amid rising food ingredient and labor costs and the burden of high interest rates, the delinquency rate on loans to domestic self-employed business owners reached its highest level in 13 years. Apple's first foldable phone, the iPhone Duo, sold out on its first day of release, but is seeing a wave of returns due to defects such as screen damage. Seoul apartment prices have risen for 89 consecutive weeks, up 800 million won over the past year, with complexes priced over 100 million won per 3.3 square meters spreading to areas including Yeouido, Yangcheon, and Gwacheon. Due to Seoul redevelopment projects, 50,000 households are expected to relocate simultaneously within the next two to three years, which is forecast to intensify upward pressure on rental prices.