KOSPI tops 6,000 on SK hynix earnings as the won slides
Korean stocks surged on SK hynix earnings and revived AI optimism, with the KOSPI closing above 6,000, while the won weakened sharply against the US dollar. Samsung Electronics held its No. 5 spot in Interbrand's brand ranking, and SK hynix pledged a large shareholder return.
Markets & chips
KOSPI
Seoul's main index jumped on renewed AI optimism tied to SK hynix results, with the exchange operator stepping in as the session ran hot.
Seoul shares closed above the 6,000 mark, with SK hynix earnings easing fears of an AI peak.
The Korea Exchange triggered a buy-side sidecar for the KOSPI as the index rose sharply.
Korean won
The won fell sharply against the dollar, according to The Korea Times.
Samsung Electronics
Samsung's day spanned brand value, mobile payments expansion and legal and regulatory matters.
Samsung Electronics placed No. 5 on Interbrand's annual list with a brand value of USD 105.2 billion, the only Asia-based company in the global top five each year since 2020.
Samsung Wallet Money is expanding globally with app-free payments, The Korea Times reported.
Korea accepted an international arbitration ruling in favor of Elliott in the Samsung merger case, The Korea Herald reported.
The Fair Trade Commission's penalty against Samsung raised questions about regulatory consistency, according to The Korea Times.
SK hynix
SK hynix's results lifted the broader market and came alongside a large shareholder-return pledge.
SK hynix pledged to return $75 billion to shareholders, The Korea Times reported.
Seoul shares rose more than 6% as AI optimism revived on SK hynix earnings, The Korea Herald reported.
Business of culture
JYP Entertainment
A JYP takeover plan raised funding doubts and drew scrutiny from the Financial Supervisory Service, The Korea Herald reported.
Netflix in Korea
Netflix discussed its approach to dubbing, citing the goal of the same emotional impact across cultures, The Korea Times reported.