SK Group Market Cap Tops 2,000 Trillion Won, 26% of Korea's Market

June 17, 2026 (Wed) Front Page Unboxing [ON AIR Sedaily]

*Editor's Note: 'AI PRISM' (Personalized Report & Insight Summarizing Media) is an 'AI-based customized news recommendation and summarization service' developed with support from the Korea Press Foundation. It selects and provides six customized news items by reader type.

1. SK Group Market Cap Tops 2,000 Trillion Won, Jumps to One-Quarter of Korea's Market

- Key Summary: SK hynix renewed its all-time closing high at 2,382,000 won, with the combined market capitalization of SK Group's 21 listed companies reaching 2,020.1712 trillion won, breaking the 2,000 trillion won barrier for the first time. SK hynix, which accounts for 84% of the group's market cap, and SK Square (402340) (up 6.23%), the largest shareholder holding a 20.1% stake, both posted record highs. Industry analysts say that as SK hynix's weighting within domestic and overseas ETFs approaches its limit, SK Square is emerging as an alternative investment destination. Daishin Securities raised its KOSPI target index to 11,500, saying the semiconductor sector's PER would normalize from the current 5.43 times to 8.8 times, highly assessing the possibility of intensified market cap concentration.

2. Daishin Securities Raises KOSPI Outlook from 8,800 to 11,500, "Inflection Point in Late August"

- Key Summary: Daishin Securities raised its KOSPI target index by more than 30%, based on semiconductor net profit of 605 trillion won and non-semiconductor net profit of 227 trillion won. The KOSPI's 12-month forward EPS surged from 666.6 points at the end of March to 1,056.4 points as of June 15, leaving the forward PER at just 8 times even after surpassing the 8,500 line. It identified semiconductors, secondary batteries, automobiles, shipbuilding, and power equipment as promising sectors for the second half, and named 10 top picks including Samsung Electronics (005930), LS (006260), Hanwha Aerospace (012450), and HD Hyundai Heavy Industries (329180). However, it also warned that if the Fed signals balance sheet reduction or entry into a rate-hike cycle at the Jackson Hole meeting in late August and the September FOMC, the earnings-driven market could shift into a reverse-liquidity market.

3. Domestic Slump Plus Union's 'Fourfold Pressure'... Hyundai Motor in Crisis

- Key Summary: Hyundai Motor's union filed for labor dispute mediation with the National Labor Relations Commission, demanding more than 30% of last year's net profit (10.3648 trillion won) as performance bonuses; if mediation fails by the 25th, it will secure the legal right to strike. First-quarter operating profit plunged 30.8% year-on-year to just 2.5146 trillion won, and domestic sales in May also plummeted 23.1%, with poor performance continuing. As the Ulsan Regional Labor Relations Commission ordered direct negotiations with in-house subcontractors, a structure has formed in which both the prime contractor's and subcontractors' unions simultaneously apply pressure. With the introduction of humanoid robots and factory reconstruction issues also intertwined, observers say it is difficult to gauge when the labor-management conflict will be resolved.

4. 'AI Power ETFs' That Had Stalled Reignite... Rebound 10% on Order Hopes

- Key Summary: Four major domestic AI power infrastructure ETFs rebounded around 10% over the past week. TIGER Korea AI Power Equipment TOP3 Plus (11.58%), KODEX AI Power Core Equipment (11.31%), and HANARO Power Equipment Investment (10.93%) rose again, reflecting order expectations after plunging up to 35% from their highs. First-quarter new orders for HD Hyundai Electric (267260), Hyosung Heavy Industries, LS Electric, Sanil Electric (062040), and Iljin Electric (103590) reached a record high of 8.5 trillion won, with the order backlog surpassing 34 trillion won. Forecasts say that as Alphabet, Meta, Amazon, and Microsoft expand AI data center investments, expectations are growing for upward revisions to order guidance ahead of the second-quarter earnings season.

5. K-Platforms' Fortunes Diverge... CLSA Says "Naver Undervalued, Kakao (035720) Lacks Momentum"

- Key Summary: Global investment bank CLSA resumed coverage after 10 months, presenting Naver with a target price of 300,000 won and an outperform rating, while assigning Kakao a target price of 42,000 won and a hold rating, with the two stocks diverging in assessment. According to the analysis, Naver's expected PER for 2027 stands at 15.6 times, remaining at the lower end of its past valuation band, with double-digit revenue and operating profit growth expected over the next three years. While Kakao's operating margin will improve from the current 9.0% to 12.1% by 2028, the diagnosis was that short-term growth catalysts are limited due to Kanana's beta service stage and delays in materializing agent commerce results. While nine domestic securities firms raised Naver's target price over the past month, three lowered Kakao's, sharply dividing market views.

6. After 31 Years... Japan Raises Base Rate to 1%

- Key Summary: The Bank of Japan resumed rate hikes after six months, raising its short-term policy rate from 0.75% to 1.0%. This marks entry into the 1% range for the first time in 31 years since April 1995, decided with seven of eight policy board members in favor. The decision reflected a judgment that price response was urgent, as the real consumer price inflation rate excluding subsidies reached 2.8% and the May corporate goods price index surged 6.3% year-on-year. The interest rate gap with the United States still stands at 2.75 percentage points, with the prevailing assessment being that there will be little change in the weak yen and demand for yen carry trade unwinding.