KOSPI plunges 5.46% on foreign selling; Samsung unveils AI memory push
Korean equities suffered a severe selloff as foreign investors dumped shares, sending the KOSPI down 5.46% and triggering a sell-side sidecar, while Samsung's chairman was set to receive shares worth $1.94 billion from his mother. In tech, Samsung used the OCP event to unveil next-generation AI memory and highlight its AMD partnership, even as Korean chip stocks slid on China's DRAM push.
Markets & chips
KOSPI
The session saw the benchmark index drop sharply on heavy foreign selling, with a market-wide circuit breaker mechanism activated to curb the decline.
The KOSPI fell 5.46% as foreign selling pushed valuations to a record low.
The Korea Exchange activated a sell-side sidecar for the KOSPI following the sharp decline.
The KOSPI held near the 6,000 level as foreign investors sold heavily.
The Kospi dropped 5.5% in a foreign-led selloff, with large chipmakers among the biggest decliners.
The KOSPI opened below 6,000 as foreign investors sold.
Samsung Electronics
Samsung used the OCP event to present its next-generation memory strategy for AI data centers, while a separate report examined how AI supply chain exposure is splitting third-quarter outlooks for Samsung and LG parts units.
Samsung's chairman is set to receive Samsung Electronics shares worth $1.94 billion from his mother.
Samsung showcased next-generation AI memory at OCP and highlighted its partnership with AMD.
Samsung unveiled its next-generation memory strategy for AI data centers at OCP.
Differing exposure to the AI supply chain is splitting third-quarter outlooks for Samsung and LG parts units.
Korean chipmakers
CXMT's new DRAM technology is seen as a test for Korean memory makers' dominance.
A KAIST HBM pioneer was honored with the S&T Innovation Award.
Korean chip stocks slid amid China's DRAM push.
The Jeonnam-Gwangju region is expanding its semiconductor belt.
Business of culture
K-pop agencies
Under a new law, K-pop agencies gained the authority to self-rate their music videos.
BTS, Blackpink and Stray Kids are competing for top MAMA honors.
Blackpink's Jennie marked her 20th week on Billboard's Hot 100 with 'Dracula'.