Daily Briefing · 2026-10-30

Binance, the world's largest cryptocurrency exchange, suffered a hack estimated to have been carried out by a North Korean hacking organization, with damages of about 8.5 trillion won, marking the largest loss on record. The KOSPI fell 3.48% to close at 5,730.74 amid a slump in US tech stocks and net selling by foreign investors. Alphabet's stock plunged 13% on concerns over expanded AI infrastructure investment, wiping out 669 trillion won in market capitalization, while Amazon's stock also fell nearly 7% due to weak earnings and worsening cash flow. Kia posted record-high quarterly revenue in the third quarter, but its stock plunged 11% after operating profit fell short of market expectations. Nvidia will invest $1 billion in Naver on November 6, becoming its third-largest shareholder and helping to support Naver's AI infrastructure build-out. Samsung Heavy Industries and Hanwha Ocean continued their earnings improvement trend, with third-quarter operating profit rising by about 40% and about 60%, respectively. Lotte Group sold its stake in Lotte Rental to TPG, securing about 1.3 trillion won in cash. POSCO Future M and LG Energy Solution signed a 10 trillion won, seven-year supply contract for cathode and anode materials. POSCO's labor and management reached a tentative agreement on wage negotiations, averting a third strike crisis. Korea Hydro & Nuclear Power's Czech nuclear plant contract fell through due to issues with the construction contractor selection process, raising concerns about weakening export competitiveness. At the Ulsan thermal power plant, a boiler tower collapsed, killing 7 workers. Personal data breaches occurred in succession at Hanwha Systems, Hanwha Engine, Hyundai Ezwel, and GS Construction, among others. At Incheon International Airport, a ticketing network failure halted ticketing for three airlines, delaying 1,200 departing passengers. Seoul City proposed raising the floor area ratio for private redevelopment projects by up to 1.2 times, and the government also decided to ease regulations on relocation expense loans. Concerns were raised that the Eunma Apartment reconstruction schedule could be delayed following a court ruling. Samsung Bioepis applied for US FDA approval of its Keytruda biosimilar. National tax revenue through September totaled 385 trillion won, up 33% from the previous year, achieving 80% of the annual tax revenue target ahead of schedule.