00:02You're listening to AI Prism from Seoul Economic Daily.
00:06It's Tuesday, July 28. Here's what today's story could mean for the Korean market.
00:11Three numbers before the open. A 465% IPO pop, a 22-year first for Naver, and an 87%
00:21market cap ratio.
00:23Naver just handed NVIDIA a bigger stake than its own chairman holds.
00:28SK Hynix is falling faster than Samsung in this chip correction, and regulators just raided the exchange over an L
00:36&F contract.
00:38Naver moved fast this week, issuing new shares to NVIDIA and announcing a share buyback on the same day.
00:45Meanwhile, chip stocks kept correcting, with SK Hynix underperforming Samsung.
00:51Regulators also opened a probe into a battery materials maker's disclosure practices.
00:57Here's what the numbers show.
00:59Naver issued $1 billion in new shares to NVIDIA, its first third-party placement since 2004.
01:07NVIDIA picked up a 4.5% Naver stake, 7.24 million shares, edging out board chairman Li Hei Jin's
01:15roughly 3.9% holding.
01:17Naver will also retire 4.9 million treasury shares worth about 1 trillion won on August 3rd, a move aimed
01:27at boosting shareholder value.
01:29SK Hynix's market cap fell to 87.1% of Samsung's, down from over 100% in June, as chip
01:38stocks corrected sharply.
01:40SK Hynix shares dropped 37.7% from their June peak, compared to a 29.1% drop for Samsung.
01:50Financial regulators raided the Korea exchange over LNF's revised Tesla supply contract, which was cut from 3.83 trillion won
01:59to about 9.7 billion won.
02:02So what does this mean for the Korean market?
02:05Earlier, we said Naver handed NVIDIA a bigger stake than its own chairman.
02:11Here's what that actually means for you.
02:14Naver's ownership structure just shifted, something to track heading into the October 30th payment deadline.
02:21SK Hynix's sharper reaction to the chip correction versus Samsung is a pattern worth watching into this week's earnings, on
02:29July 29th and 30th.
02:31The LNF investigation adds a disclosure integrity risk premium to watch for names with recent contract amendments.
02:39What to watch?
02:41SK Hynix's earnings on July 29th and Samsung's conference call on July 30th.
02:48Naver's treasury share retirement on August 3rd.
02:52Progress in the LNF disclosure investigation.
02:56That's today's AI Prism, stock investors.
02:59This episode was produced with AI assistance based on sole economic daily reporting and reviewed by a human editor.
03:08AI Prism is a Juan Ifra award-winning series.
03:12We'll be back tomorrow.
03:13You've been listening to AI Prism from sole economic daily.
03:17Did you hear this on the flip behind 30 or right before coming?
03:17Oh, Santa...
03:20The rule comes here.
03:20I am young friend afterwards.
