Daily Briefing · 2026-11-04

government has withheld approval for semiconductor equipment export licenses needed for SK Hynix's expansion of its Dalian, China plant, disrupting plans to expand Chinese production capacity and investment plans for the New York state plant. It has been confirmed that HBM from Samsung Electronics and SK Hynix was illegally leaked to China, raising concerns over sanctions following violations of U.S. export controls. In the Hanjin KAL management dispute, Hoban Construction secured a 20.69% stake, narrowly overtaking Chairman Cho Won-tae's side to become the largest shareholder. Chairman Cho Won-tae's side plans additional share purchases in early next month, raising the possibility that the largest shareholder status could change again. Coupang posted record-high third-quarter revenue of 14.2209 trillion won, but booked an operating loss of 642.3 billion won due to a logistics center fire and rising costs from a personal information leak, bringing its cumulative losses this year to nearly 2 trillion won. Financial authorities imposed a total of 374.6 billion won in fines on 13 banks and securities firms over mis-selling of Hong Kong H-index ELS products, finalizing the largest-ever sanctions since the enforcement of the Financial Consumer Protection Act. The KOSPI and KOSDAQ plunged more than 4% intraday amid a correction in the semiconductor sector and uncertainty over the U.S. midterm elections, but closed slightly higher, up 0.62% and 1.50% respectively, buoyed by buying from individual investors and institutions. Following forecasts that the Democratic Party would control both the Senate and the House in the U.S. midterm elections, AI and semiconductor-related stocks weakened on concerns over stronger regulation, while solar and secondary battery stocks surged. SK Group Chairman Chey Tae-won was appointed chairman of the board of HYAICO, the group's U.S. AI investment entity, moving forward with business expansion through a $10 billion AI infrastructure investment. SK Inc. will invest approximately 145 billion won in a tender offer for about 25% of outstanding shares to make SK Ecoplant a wholly owned subsidiary. A consortium of CJ, Shinsegae, and Daou Kiwoom will acquire JoongAng Ilbo for 520 billion won, splitting the stake evenly for joint management. Samsung Biologics' union will begin a second strike for three weeks starting on the 6th, raising concerns over production disruptions centered on quality control and logistics departments. The 162 trillion won Future Response Fund, created amid the semiconductor boom, is facing controversy over political instrumentalization due to clauses that bypass National Assembly budget review. Nonghyup Chairman Kang Ho-dong has had an arrest warrant requested against him on bribery charges, raising concerns over declining organizational trust. Seoul apartment prices have continued rising for 90 consecutive weeks, with prices also increasing in 22 districts outside the Gangnam 3 districts, deepening regional polarization. Korea's top 30 conglomerates have been shifting their global bases from China to the United States, with the number of U.S. affiliates increasing by 232% over the past 10 years.