{"id":16022,"date":"2026-05-14T01:52:21","date_gmt":"2026-05-14T01:52:21","guid":{"rendered":"https:\/\/www.europesays.com\/korea\/16022\/"},"modified":"2026-05-14T01:52:21","modified_gmt":"2026-05-14T01:52:21","slug":"sk-hynix-forward-per-overtakes-samsung-electronics-for-first-time","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/korea\/16022\/","title":{"rendered":"SK hynix Forward PER Overtakes Samsung Electronics for First Time"},"content":{"rendered":"

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\u25b2AI PRISM* Customized Economic Briefing<\/p>\n

*Editor’s Note: ‘AI PRISM’ (Personalized Report & Insight Summarizing Media) is an artificial intelligence (AI)-based customized news recommendation and summary service developed with support from the Korea Press Foundation. It selects and provides six customized news items for each reader type.<\/p>\n

\u25a0 KOSPI Record High and Overheating Concerns: The KOSPI surged to 7,844, hitting an all-time high, while investor deposits reached a record 137.4174 trillion won. The outstanding balance of margin loans also broke back above the 36 trillion won mark to 36.2677 trillion won, with signs of overheating spreading in tandem.<\/p>\n

\u25a0 Policy Rate Hike Pivot Becomes Visible: The Korea Development Institute (KDI) raised its growth forecast for this year to 2.5%, assessing that the need for expansionary fiscal policy to stimulate the economy is low. With the Bank of Korea Deputy Governor hinting at the possibility of a pivot to rate hikes, the likelihood of a third-quarter hike has risen further.<\/p>\n

\u25a0 ELS Sanctions Under Review and Penalty Reduction: The Financial Services Commission (FSC) has instructed the Financial Supervisory Service (FSS) to reconsider its 1.4 trillion won penalty proposal against banks and securities firms for mis-selling Hong Kong H-index equity-linked securities (ELS). The penalty, initially set at 4 trillion won and revised downward several times, now faces the possibility of further reduction.<\/p>\n

[News of Interest to Financial Product Investors]<\/p>\n

1. KOSPI Hits Record High of 7,844, Emperor Stocks Rise from 10 to 11<\/a><\/p>\n

– Key Summary: The KOSPI closed at 7,844.01, up 200.86 points (2.63%) from the previous trading day, setting a new all-time high. Individual investors net bought 1.8847 trillion won worth of shares, while foreigners net sold 3.7573 trillion won worth, marking a fifth consecutive day of net selling. Samsung Electro-Mechanics (009150) rose 7.41% to close at 1,029,000 won per share, joining the “emperor stocks” (shares trading above 1 million won each) and bringing the number of emperor stocks to a record 11. Morgan Stanley set its KOSPI range at 6,500-9,500 by year-end, mentioning the possibility of reaching 10,000 points in a bull market scenario.<\/p>\n

2. 6.79x vs 6.77x: SK hynix Overtakes Samsung Electronics in Valuation for First Time<\/a><\/p>\n

– Key Summary: SK hynix’s (000660) 2026 annual forward price-to-earnings ratio (PER) reached 6.79x, surpassing Samsung Electronics’ (005930) 6.77x for the first time. Over the past month, SK hynix posted a return of 78.68%, more than double Samsung Electronics’ 35.44%. Three months ago, the forward PER gap stood at 2.80 points, with Samsung Electronics at 8.08x and SK hynix at 5.28x, but that gap has now been completely reversed. Samsung Electronics is held back by union strike risks, with JPMorgan estimating the impact of wage increases on its operating profit at a minimum of -7% to a maximum of -12%.<\/p>\n

3. KDI: “Korea’s Growth Rate This Year at 2.5%, Low Need for Expansionary Fiscal Policy to Stimulate Economy”<\/a><\/p>\n

– Key Summary: The Korea Development Institute (KDI) raised its growth forecast for this year by 0.6 percentage point from 1.9% in February to 2.5%, diagnosing the economy as being in an expansion phase exceeding potential growth. Of the upward revision in the growth rate, semiconductors contributed more than 0.3 percentage point, and this year’s current account surplus is projected to hit a record high of 239 billion dollars. Meanwhile, the consumer price inflation forecast for this year was raised by 0.6 percentage point to 2.7% from the February projection of 2.1%, with the possibility of the Consumer Price Index (CPI) entering the 3% range starting in May also mentioned. KDI called for flexible monetary policy, stating, “If high inflation persists, rates will need to be raised.”<\/p>\n

[Reference News for Financial Product Investors]<\/p>\n

4. Bank of Korea Ahead of Third-Quarter Rate Hike<\/a><\/p>\n

– Key Summary: With the prolonged war in the Middle East driving international oil prices higher on concerns over a potential closure of the Strait of Hormuz, the view that a Bank of Korea policy rate hike is unavoidable is spreading. The Bank of Korea Deputy Governor has made remarks suggesting the possibility of a pivot to rate hikes, with analysts pointing to both July and August as possible timing for a third-quarter hike. Among overseas central banks, the Reserve Bank of Australia (RBA) raised rates for a third consecutive time at its May meeting, while the Bank of Japan (BOJ) and the European Central Bank (ECB) are expected to hike in June. The upcoming Monetary Policy Board dot plot and dissenting opinions, as well as the Bank of Korea Governor’s speech at the June founding anniversary, are expected to serve as key signals for the direction of monetary policy.<\/p>\n

5. Copper Price Breaks Above $14,000 on Surging Chinese Demand; ETN Returns Also Jump<\/a><\/p>\n

– Key Summary: On the London Metal Exchange (LME), three-month copper futures recorded 14,021 dollars per ton, rising for a seventh consecutive trading day and surpassing the previous high of 13,618 dollars. With China’s April exports up 14% year-on-year and clean energy product shipments holding firm, supply concerns were amplified by a shutdown at an Iranian copper smelter and possible delays in production recovery at Indonesia’s Grasberg mine. As a result, Korea Investment’s leveraged copper futures ETN (exchange-traded note) and Shinhan’s leveraged copper futures ETN rose 22.76% and 22.16% respectively over the past week, while silver-related ETNs also posted returns of around 33%. LS Securities (078020) analyzed, “With China’s demand recovery and the possibility of U.S. tariffs on refined copper coming into focus, copper prices will attempt to break above the previous high.”<\/p>\n

6. FSC Says “Reconsider Bank ELS Sanctions”; Penalties Expected to Be Significantly Reduced<\/a><\/p>\n

– Key Summary: The Financial Services Commission (FSC) at its regular meeting requested the Financial Supervisory Service (FSS) to reconsider its sanctions proposal against banks and securities firms related to the mis-selling of Hong Kong H-index ELS, effectively sending the 1.4 trillion won penalty back to square one. The penalty, initially 4 trillion won, was reduced to around 2 trillion won during discussions and then to 1.4 trillion won, with the possibility of further reduction raised by this review. The FSC requested supplementation of certain facts, applicable laws, and legal reasoning in the sanctions proposal, and its rejection of an FSS sanctions proposal is an exceptional case, following the Samsung Biologics (207940) accounting review measure in 2018. With banks having voluntarily compensated investors, concerns over a wave of lawsuits if large-scale penalties are finalized, as well as worries about weakened productive and inclusive financing capacity of financial firms, are cited as grounds for caution.<\/p>\n

\u25b6Go to article: KEPCO Unable to Smile Despite 3.8 Trillion Won Surplus; LNG Price Surge Warns of Year-End ‘Return to Deficit’<\/p>\n

\u25b6Go to article: Countdown to Breakdown: Samsung Fab to Halt for First Time in 42 Years?<\/p>\n

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