00:24다음 영상에서 만나요
00:30We have told our reporter that competition from Korean memory makers is a good thing, even as Washington quietly tilts
00:36the playing field toward domestic chip makers. Here's what that means for capital allocated to Korea. It's Monday, September 7th.
00:44Here's why global investors are paying attention to Korea today. Korea's benchmark index has been stuck in a 6,500
00:52to 6,900 range for weeks as external uncertainty keeps buyers on the sidelines.
00:58Samsung Electronics and SK Hynix share buybacks have propped up the tape through so-called other corporation purchases, but that
01:06support ends by mid-October.
01:08Meanwhile, Washington's chip strategy is shifting capacity and leverage toward U.S. soil, raising the stakes for Korean memory and
01:16foundry makers operating there.
01:18Here's what the numbers show. Foreign investors sold $1.87 trillion, one of Cosby's shares in the first four trading
01:26days of September, while retail investors sold $2.92 trillion, one in institutions sold $81.3 billion won.
01:33Cosby fell 1.95% over that span, trading between $6,500 and $6,900, a three-way seller alignment
01:43the Korea Exchange calls unprecedented.
01:45Other corporations, the category capturing Samsung and SK Hynix buybacks, bought a net $4.89 trillion won, absorbing nearly all
01:55the selling pressure.
01:57That buyback-driven support ends when SK Hynix's repurchase program concludes in mid-October, removing the main technical floor under
02:05the index.
02:06Samsung Asset Management's Lim Tai-huk argues Korea's 12-month forward PER trades below five times, versus roughly 20 times
02:15in the U.S. and Taiwan, 16 times in Japan, and 11 times in China.
02:21Korea's Q2 GDP revision arrives September 8, followed by August employment data on September 9, and a Bank of Korea
02:29policy report on September 10.
02:32Separately, Republican Senator Todd Young told our correspondent he isn't worried about Korean memory makers competing with Micron on U
02:40.S. soil, even as Washington Channels support toward domestic chip makers.
02:44So what does this mean for global investors weighing Korea exposure?
02:48Earlier, we said Korea's valuation sits near a quarter of U.S. and Taiwan multiples.
02:54Here's what that actually means for you.
02:55The discount reflects a technical supply-demand vacuum, not a collapse in earnings power.
03:02So re-rating depends on foreign flows returning rather than fresh buyback support.
03:08The U.S.-Korea chip rivalry adds a second variable.
03:11Tariff and subsidy policy could widen or narrow the playing field for Samsung and SK Hynix well before their new
03:19U.S. fabs ramp in 2028 and 2029.
03:22Until foreign net buying resumes, Kospi's break above 7,000 last touched July 23 looks more like a technical ceiling
03:31than a valuation call.
03:33What to watch?
03:34Korea's Q2 GDP revision on September 8, which confirms whether growth holds above the flash 0.6% quarter-on
03:43-quarter print.
03:44U.S. August CPY on September 11, expected at 3.4% year-on-year and a key input for
03:51the September Fed meeting.
03:53And the SK Hynix buyback expiration in mid-October, when Kospi's main technical floor disappears.
04:00That's today's AI Prism, Global Investors.
04:03This episode was produced with AI assistance based on Seoul Economic Daily reporting and reviewed by a human editor.
04:10AI Prism is a Juan Ifra award-winning series.
04:14We'll be back tomorrow.
04:16You've been listening to AI Prism from Seoul Economic Daily.
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