Korean Financial Market New for?December 5, 2023

1. The National Pension Service (NPS) has begun the process of selecting a securities firm to manage domestic stocks worth KRW 137 trillion. With the number of trading firms expected to decrease by 10 from next year, competition among securities firms to secure the status of NPS trading agent is expected to intensify. https://www.youtube.com/watch?v=6CzT8GSHQgY
2. Korea Overseas INfrastructure & Urban Development Corporation(KIND) held a board meeting recently and approved the investment in the ‘Romania Small Modular Reactor (SMR) Nuclear Power Plant Construction and Operation Project’ in which Samsung C&T participated. https://www.theguru.co.kr/news/article.html?no=63425
3. IDC, a market research firm, has forecasted that the global smartphone shipments will grow by 7.3% in the fourth quarter of this year compared to the previous year1. The firm also predicts that the global smartphone. https://biz.chosun.com/it-science/ict/2023/12/04/DV74JYVD3BAK3J3OXLIJ37GUSU/?utm_source=naver&utm_medium=original&utm_campaign=biz
4. Analyst’s report - Samsung Electronics: The DRAM industry is expected to face a supply shortage at the end of this year. NAND is also expected to see a sharp increase in prices due to the rapid depletion of distribution inventory. As a result, Samsung Electronics’ operating profit is expected to grow to 4 trillion won (+64% QoQ) in 4Q23 and 37 trillion won (+380% YoY) in 2024. The target price for Samsung Electronics is maintained at 90,000 won, and it is recommended to buy as the top pick in the industry. https://drive.google.com/file/d/1aJjTfZccBEc_iBR33bKyCc-qPVLsJEuN/view
5. According to a report on the ‘preliminary sales volume of smartphones in October’ by Hana Securities on the 4th, the first 9-month sales volume of the Galaxy S23 series, which was released in February, was 25.06 million units, a 23% increase from the same period last year when the S22 series was sold (20.32 million units). https://www.yna.co.kr/view/AKR20231204118600017?input=1195m
6. SK Hynix has entered a speed race to invest in High Bandwidth Memory (HBM). The company plans to build a new HBM line at its Cheongju plant and start full-scale operation next year. With the expansion of production capacity, the company aims to solidify its leadership in the HBM market and outpace its competitors. https://m.etnews.com/20231204000284
7. The corporate loan balance of the five major Korean banks has exceeded 65 trillion won since the beginning of this year1. As the size of corporate loans increases, concerns about soundness are also growing. https://www.edaily.co.kr/news/read?newsId=02879846635835240&mediaCodeNo=257&OutLnkChk=Y
8. According to recent reports, the proportion of fixed-rate mortgages among new home-backed loans handled by Korean banks has fallen to the 60% range. Despite the financial authorities’ efforts to expand the proportion of fixed-rate mortgages, consumers who expect a decline in market interest rates are flocking to variable-rate mortgages. https://n.news.naver.com/mnews/article/015/0004921613?sid=101
9. The deposits of major commercial banks in Korea have surged by over KRW 26 trillion in just two months. With a lack of suitable investment opportunities and the inability of second-tier financial institutions to offer attractive interest rates, financial consumers have chosen to deposit their money in banks. https://n.news.naver.com/mnews/article/003/0012246541?sid=101
10. According to the US music review magazine ‘Pitchfork’, NewJeans’ ‘Super Shy’ was ranked 7th in ‘The 100 Best Songs of 2023’ announced on the 4th (local time). It is the only K-pop song to make it to the chart. https://n.news.naver.com/entertain/now/article/003/0012248115

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