Daily Briefing · 2026-10-26

Samsung Electronics and SK Hynix posted a combined Q3 operating profit exceeding 180 trillion won, a record high, but SK Hynix shares plunged 56% from their June peak, pushing its market capitalization down to the 1,000 trillion won range. SK Hynix subsidiary Solidigm's US IPO was abruptly suspended amid shareholder opposition, blocking a key growth funding channel, and in the aftermath the KOSPI plunged as much as 4% intraday. Goldman Sachs lowered its 12-month KOSPI target by 25%, from 12,000 to 9,000, but maintained its investment view that there is more than 60% upside potential from current levels. The won-dollar exchange rate fell to the 1,320 won range, its highest value in 2 years, and the nominal effective exchange rate also hit a 2-year high, raising concerns about deteriorating profitability for exporters. Amid intensifying conflict in the Middle East, international oil prices surged to $116 per barrel, exceeding state research institute projections by $25, and Korea's economic burden as an energy-importing country is expected to grow. SpaceX completed $53 trillion won in debt financing to purchase AI chips, and Wall Street is now rating it as the fifth mega hyperscale company, following Meta, Alphabet, and others. The scale of the KB Kookmin Bank hacking breach expanded 18-fold, from 119 to 2,210 people, raising concerns over additional compensation costs and reputational damage. Mirae Asset Life Insurance became the first in the insurance industry to suffer a personal information leak due to hacking, prompting the Financial Supervisory Service to launch an on-site inspection. Homeplus faces a power cutoff crisis at 7 stores due to unpaid electricity bills, and MBK Partners Vice Chairman Kim Kwang-il has lost both his CEO position and his status as largest shareholder. The taxation of virtual asset income appears headed for a fourth postponement, which is expected to ease investor concerns about capital outflows. The proportion of temporary and daily workers among young people surged to 32.6%, showing that despite the boom in semiconductors and AI, employment quality is deteriorating and labor market polarization is deepening. Disparities in reconstruction project assessment fees between complexes are also widening — Eunma Apartment residents must pay an additional 400 million won, while Jamsil Complex 5 residents will receive a refund of 800 million won. SK is facing pressure to reform its governance structure after Align Partners secured a 1.5% stake. JYP Entertainment shares surged 18% in after-hours trading amid rumors of an acquisition by Japanese capital.