▲ AI PRISM* Personalized Economic Briefing
* Editor's note: AI PRISM (Personalized Report & Insight Summarizing Media) is an AI-based personalized news recommendation and summary service developed with support from the Korea Press Foundation. It selects and provides six tailored news items for each reader type.
[Key Issue Briefing]
■ Samsung Electronics (005930.KS) Hit by Disappointment Over Shareholder Returns: Samsung Electronics announced a shareholder return plan worth 90 trillion to 110 trillion won, but shares plunged 8.70% to close at 257,000 won as the plan emphasized dividends rather than the aggressive share buybacks and cancellations the market had expected. Under the Financial Industry Structural Improvement Act, the combined stake held by Samsung Life Insurance and Samsung Fire & Marine Insurance is capped at 10%, effectively limiting the cancellation of common shares. Analysts estimate that actual share buybacks and cancellations will amount to only 10 trillion to 20 trillion won, with the remainder paid out as dividends.
■ Won Strength Hits Year-Low, Impact on Exporters in Focus: The won-dollar exchange rate fell to 1,376.50 won intraday on the 24th, setting a new year-low, and the won has appreciated 11.90% against the dollar since July 1 — the largest gain among major currencies. Expanded dollar supply from strong semiconductor exports and expectations of further interest rate hikes by the Bank of Korea are supporting the won, with some forecasts suggesting the exchange rate could fall to the low-to-mid 1,300 won range by year-end.
■ KOSDAQ Active ETFs Raise Materials and Equipment Weighting Above Half: Active KOSDAQ ETFs from major asset managers including Samsung Active, Timefolio and DS Asset Management have raised their weighting in semiconductor materials, parts and equipment to between 52% and 100%, sharply cutting bio and secondary battery holdings. With 19.2 billion won in net inflows into three products over the past month, renewed fund inflows are expected to improve supply-and-demand conditions for KOSDAQ materials, parts and equipment stocks.
[News of Interest to Stock Investors]
Key summary: Samsung Electronics announced a shareholder return plan of 90 trillion to 110 trillion won, but shares plunged 8.70% as it came into focus that the combined stake held by Samsung Life Insurance and Samsung Fire & Marine Insurance is approaching the 10% ceiling under the Financial Industry Structural Improvement Act, structurally limiting large-scale cancellation of common shares. The company plans to pay 30 trillion won in cash dividends during the third quarter and to decide on the remaining 60 trillion to 80 trillion won next January after this year's earnings are finalized. Analysts estimate share cancellations at 10 trillion to 20 trillion won and dividends at 50 trillion to 60 trillion won. By contrast, SK hynix (000660.KS), free of governance constraints, canceled its entire 40 trillion won worth of treasury shares, drawing a positive market response and limiting its decline to 3.41%. A plan to cancel preferred shares has also been discussed, but analysts say it falls short of market expectations because it does not directly reduce the volume of common shares in circulation.
2. Won Strength Built on a "Trifecta" of Chip Exports, a Hawkish Bank of Korea and Corporate Demand
Key summary: The won-dollar exchange rate hit 1,376.50 won intraday on the 24th, setting a roughly 11-month low, and the won's appreciation since July has led major currencies, exceeding the yen's by more than five times. On top of a first-half current account surplus of $191 billion, dollar sales by non-financial private companies surged 71.5% year-on-year in the second quarter, driving the exchange rate lower on supply-and-demand factors. With expectations of a further base rate hike by the Bank of Korea supporting won strength, 13 of 20 experts forecast an additional 0.25 percentage point hike at the Monetary Policy Board meeting on the 27th. As forecasts emerge that the exchange rate could fall to the low-to-mid 1,300 won range by year-end, analysts say investors should watch the earnings impact on stocks with high export exposure and the need for portfolio adjustments.
3. KOSDAQ Active ETFs Cut Bio, Concentrate on Chip Materials and Equipment
Key summary: Three KOSDAQ active ETFs from Samsung Active, Timefolio and DS Asset Management raised their weighting in semiconductor materials, parts and equipment to 62.72%, 52.11% and 100% respectively, sharply cutting bio and secondary battery holdings. The most-favored stocks commonly held by the managers were Tes (average weighting 5.88%), Simmtech (4.41%) and PSK Holdings (4.02%). Fund inflows have resumed, with 19.2 billion won in net inflows into the three products over the past month, and the government's push to enact a mega special-zone law and its announcement of a 5 trillion won semiconductor fund are also supporting investor sentiment toward materials, parts and equipment.
[News for Stock Investors' Reference]
4. Samsung Grafts GPU Functions Onto HBM; hynix Pursues 20-Layer Stacking
Key summary: At Hot Chips 2026 at Stanford University, Samsung Electronics presented an approach to resolving memory bottlenecks through custom HBM (cHBM) optimized for GPU and NPU characteristics. The concept grafts GPU memory control and some AI computation onto the base die, with a plan to secure space by changing the PHY into a die-to-die connection structure. SK hynix is researching 20-layer stacking using hybrid bonding techniques, and disclosed development that shrinks TSV circuits versus existing designs and increases core die thickness by 24%. Both companies are accelerating efforts to secure technology leadership in next-generation competition beyond the seventh-generation HBM4E, positioning packaging and design innovation as key differentiators.
5. HD Hyundai Heavy Industries to Expand Engine Plant for First Time in 20 Years
Key summary: HD Hyundai Heavy Industries is pursuing its first engine plant expansion in about 20 years — since 2008 — to respond to surging demand for power-generation engines at AI data centers, and the project is said to be in its final stage. It signed a contract to supply HiMSEN engine-based power generation equipment totaling 1,000 MW and worth 956 billion won with Coban Energy Group, with the expansion set to focus on high-margin four-stroke HiMSEN engines carrying returns of up to 23%. Goldman Sachs forecasts that global data center power demand will rise 170% by 2030 from 2025, while Meritz Securities projects that data center engine revenue will be recognized in earnest from 2028.
6. Chairman Park Hyun-joo: "DigitalX Will Bring Upheaval to the Crypto Market"
Key summary: Park Hyun-joo, chairman of Mirae Asset Group, said the crypto exchange DigitalX (formerly Korbit), which the group recently acquired, will bring major upheaval to the digital asset industry. DigitalX has launched an aggressive strategy offering zero trading fees on all won-market listings for one year, and Mirae Asset Consulting fully subscribed to a roughly 50 billion won paid-in capital increase, raising its stake to 97.15%. With a current market share of around 0.5%, it will take time to shake the two-player dominance of Upbit and Bithumb (a combined 98%), but Mirae Asset Group's customer network worth 784 trillion won and its plans for a security token offering (STO) and real-world asset (RWA) tokenization platform are drawing attention as medium- to long-term variables.
▶ Read the article: Won Strength Built on a "Trifecta" of Chip Exports, a Hawkish Bank of Korea and Corporate Demand
▶ Read the article: HD Hyundai Heavy Industries Labor-Management Talks Collapse in Final Mediation, Strike Tensions Rise
▶ Read the article: Kyobo Life Hybrid Bonds Draw 446 Billion Won in Book-Building
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