Foreign ownership of Samsung Electronics tops 50% again
In the first three weeks of this month through Friday, foreign investors bought a net 1.877 trillion won ($1.34 billion) worth of Samsung Electronics shares, more than double their net buying of 713 billion won for all of last month, according to the Korea Exchange (KRX).
As of Friday, foreigners held a 50.19 percent stake in the chip giant, rising above the mark for the first time since April 24, when their ownership stood at 50 percent.
On Thursday, Samsung Electronics shares rallied after the Supreme Court upheld the acquittal of the company's Chairman Lee Jae-yong, affirming lower court rulings that cleared him of financial crimes related to a 2015 merger between Samsung affiliates that consolidated his control over the conglomerate.
However, foreigners offloaded 301 billion won worth of SK hynix stocks in the first three weeks, ending their two-month buying streak in the broader market.
SK hynix shares slumped after Goldman Sachs on Thursday downgraded the chipmaker to neutral from buy, citing a possible decline in high bandwidth memory (HBM) prices next year amid intensifying competition.
On Thursday, Samsung rose 3.09 percent to close at 66,700 won, while SK hynix fell 8.95 percent to 269,500 won.
Affected by foreigners' portfolio adjustments, Samsung shares have gained 12.2 percent so far this month, while SK hynix has dropped 7.9 percent.
Meanwhile, retail investors took the opposite approach, buying a net 1.23 trillion won of SK hynix shares and selling 2.31 trillion won of Samsung shares during the same period. (Yonhap)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
13 hours ago
- Korea Herald
Seoul shares end higher on extended foreign buying
Seoul shares closed higher Monday, driven by an extended foreign buying binge amid lingering concerns over US tariff measures. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index added 22.74 points, or 0.71 percent, to close at 3,210.81. Trade volume was a little slim at 341.3 million shares worth 10.6 trillion won ($7.6 billion), with losers outnumbering winners 489 to 390. Foreign investors purchased 893.4 billion won worth of local shares, while institutions bought 101.3 billion won. Retail investors dumped 1.06 trillion won worth of shares for profit-taking. "Foreigners continued the purchases of Seoul shares for the eighth consecutive session amid positive evaluation of the Kospi by global investment banks," said Lee Kyoung-min, an analyst at Daishin Securities. On Friday, Wall Street closed mixed as concerns over US President Donald Trump's administration's tariff policies offset the risky appetite caused by strong US retail sales data. The Dow Jones Industrial Average shed 0.32 percent, and the S&P 500 edged down 0.01 percent, while the tech-heavy Nasdaq composite inched up 0.05 percent. Over the weekend, US Commerce Secretary Howard Lutnick said Aug. 1 is a "hard deadline" for Washington's reciprocal tariffs, pressuring its major trading partners to swiftly come up with terms of trade negotiations. In Seoul, tech giant Samsung Electronics rose 1.04 percent to 67,800 won, and its chipmaking rival SK hynix gained 1.3 percent to 272,500 won. Leading battery maker LG Energy Solution jumped 2.64 percent to 331,000 won, and defense powerhouse Hanwha Aerospace advanced 2.57 percent to 919,000 won. Major power plant manufacturer Doosan Enerbility soared 5.56 percent to 68,400 won, and steel giant Posco Holdings surged 5.14 percent to 327,000 won. Leading shipbuilders Hanwha Ocean and HD Hyundai Heavy rose 4.98 percent and 4.81 percent to 84,400 won and 425,000 won, respectively. Renewable energy firm Hanwha Solution shot up 7.37 percent to 37,900 won on forecasts the company will swing to a profit in the second quarter. On the other hand, top automaker Hyundai Motor lost 0.71 percent to 209,000 won, and Naver, South Korea's biggest internet portal operator, went down 0.83 percent to 240,000 won. The local currency was quoted at 1,388.2 won against the US dollar at 3:30 p.m., up 4.8 won from the previous session. (Yonhap)
Korea Herald
13 hours ago
- Korea Herald
LS Electric targets 50% output boost at Vietnam plant
New production to serve Samsung SDI's ESS units, electrical needs of LG, Vingroup HANOI, Vietnam ― LS Electric aims to boost production capacity by 50 percent to $60 million at its facility in the city of Bac Ninh, just east of Hanoi, Vietnam, by expanding output for battery control panels and electrical protection devices. This strategic initiative is part of LS Electric CEO and Chair Koo Ja-kyun's commitment to Southeast Asia, the world's second-largest market for electric power systems after North America. '(On July 14,) Koo approved the construction project for a three-story building at the Bac Ninh plant,' said Choi Jong-hoon, general director of LS Electric Vietnam, during a group interview last Wednesday. 'The site will focus on the efficient manufacturing of mass-produced items, including battery control panels for Samsung SDI and air circuit breakers.' Battery control panels are control units designed to monitor and control battery voltage and protect battery systems in energy storage system products such as Samsung SDI's Samsung Battery Box. Air circuit breakers are devices that prevent abnormal electrical flow within power distribution systems used in industrial plants, commercial buildings, data centers and other facilities. According to Kim Sung-ho, technical director of LS Electric Vietnam, the Bac Ninh site seeks to increase its capacity from $40 million in 2022 to $60 million after completing the production expansion. Notably, it will manufacture approximately 10,000 air circuit breakers annually, spurred by recent investments from LS Electric's global competitors in Vietnam's electrical device market. Following the capacity growth, the facility will hire around 100 additional workers, increasing total employment to 500. As of May, it has 372 employees, with plans to expand to 400 by 2026. 'Starting with 20 billion won ($14.4 million) sales revenue in 2020, the Vietnam unit is set to achieve roughly 200 billion won this year,' noted Choi. 'In addition to the expansion project for the existing (Bac Ninh) plant, we are exploring the construction of additional facilities in Vietnam. Our goal is to reach $300 million in revenue by 2030.' Choi highlighted that the Vietnamese base is at the forefront of catering to the rapidly evolving global trend toward integrated energy solutions and high-value service offerings beyond production and sales. It already exports 60 percent of its production output to Saudi Arabia, the United Arab Emirates, Kazakhstan, Brazil, Kenya and other countries. As a member of the Association of Southeast Asian Nations, Vietnam also benefits from exemptions on intraregional export tariffs. Previously, it had focused on high-end power distribution panels as well as low-voltage power equipment. It supplied electric power solutions for South Korean companies' commercial buildings in Hanoi, including the Lotte Mall, Lotte Center and Landmark 72. In addition to Samsung SDI, the plant currently supplies LG Group factories in the Haiphong industrial park as well as utility company Electricity of Vietnam Ho Chi Minh City and Vingroup, Vietnam's largest conglomerate. One of the standout features of the Bac Ninh plant is how it uses flow production to maximize production efficiency, Kim noted. Unlike LS Electric's Cheongju facility in North Chungcheong Province, the site has few partner companies with which it can outsource manufacturing and support services. In the assembly line for battery control panels, the production team, identified by their green hats, manages the cabling for power connections in energy storage systems and places the modular components in pallets. Inspectors in yellow hats then determine whether they can proceed to the next stage and finally be attached to ESS products. These modules are designed to seamlessly integrate into the overall production process, enhancing time and cost efficiency while allowing for easy customization. Established in 1997, LS Electric's production facility in Dong Anh, inside Hanoi, relocated east of the city to Bac Ninh in 2022, expanding its capacity. Currently holding 40 percent market share in Vietnam's low-voltage power equipment sector, LS Electric Vietnam aims to capitalize on the Vietnamese government's renewable energy initiatives under its eighth Power Development Plan, which seeks to develop smart grids for modernizing power distribution systems.
Korea Herald
14 hours ago
- Korea Herald
Naver readies new social platform ThingsBook for US market
As founder Lee Hae-jin returns to lead, Naver doubles down on US expansion with AI, user-centric platforms South Korean internet giant Naver is preparing to enter the crowded US social media market with a new platform, marking the company's boldest push yet into the world's most competitive digital market. The company said Monday it is developing the new user-generated content platform, named ThingsBook, through its US-based subsidiary But the date and the specifics are still under wraps. 'We are developing a platform targeting the US market, but the launch date and the specific details are undecided at this time,' a Naver spokesperson said. is spearheading the development of ThingsBook as part of Naver's efforts to create a service for the global market from the ground up instead of simply adapting popular Korean services for international users. Naver's Webtoon and Band were both launched in the US after achieving success in Korea. Dubbed a 'personal museum,' the new service will allow users to collect, organize and share content based on personal preferences. Naver has opened a LinkedIn page for ThingsBook, describing it as 'a new kind of social media made just for people who love organizing, collecting and sharing their favorite things, from books and movies to travel spots, fashion, food and more.' As it gears up for launch, Naver has begun recruiting brand ambassadors to help promote the platform, with content categories ranging from food and travel to books, games, movies and fashion. Naver's renewed global push follows the return of its founder Lee Hae-jin earlier this year. He was elected chair of the board at Naver in March, reclaiming a leadership role after an eight-year hiatus since stepping down in 2017. In June, Lee visited Silicon Valley and announced the establishment of Naver Ventures, a US-based investment arm. The new investment company aims to invest in AI startups and future technologies, highlighting Naver's ambitions in the US tech sector. With ThingsBook, Naver appears to be focusing on securing high-quality, localized data, which is critical in AI development. During a trip to the US last month, Lee cited user-generated content as a key factor that helped Naver compete against global tech giants like Google in the local search market. He also stressed that securing a wide range of data will be key to gaining an edge in the AI era. ThingsBook will add to Naver's growing portfolio in the US, which includes the Webtoon platform, operated by US subsidiary Webtoon Entertainment, Naver Band, a social media platform that has gained popularity among after-school activity groups, and Poshmark, a US fashion resale platform that was acquired by Naver in 2023.
