Lee Hyo-sik

Stock market gains will ultimately flow into housing

President Lee Jae Myung’s high-profile pledge to divert liquidity from Seoul’s overheated housing market to the stock market seems to have worked as the main benchmark KOSPI has soared past 9,000 points in recent weeks, driven largely by massive retail buying. On top of several policy changes over the past year aimed at mitigating the “Korea discount,” the local equity market has received a much-needed boost from the semiconductor boom, fueled by the unprecedented memory chip demand from global tech firms for artificial intelligence. Shares of Samsung Electronics and SK hynix, which now account for nearly 60 percent of the country’s market capitalization, have soared to all-time highs since the beginning of the year. But some investors have become increasingly uneasy as to whether the semiconductor cycle may have peaked despite the rosy market outlook, while others have become nervous due to sharp market swings following the debut of single-stock leveraged exchange-traded funds tied to the two memory chip giants on May 27. Against such growing market volatility, many investors

Gov’t considers building more nuclear reactors to meet chip, AI power demand

The government should quickly review plans to build additional nuclear reactors to meet rapidly growing electricity demand from semiconductor manufacturing complexes and artificial intelligence (AI) data centers, Minister of Climate, Energy and Environment Kim Sung-hwan said Friday. Kim said the issue needs to be addressed as soon as possible because the government plans to finalize its 12th basic plan for long-term electricity supply and demand ahead of the regular parliamentary session later this year. "Semiconductor production requires a stable supply of electricity around the clock, making it similar to a baseload power source," Kim said in an interview with MBC Radio. "It will not be easy to meet the growing demand with renewable energy alone, so we need to promptly examine whether additional nuclear reactors should be built." Kim said the semiconductor clusters planned in Yongin, Gyeonggi Province, and the southwestern region of the country will require electricity equivalent to the output of about 15 nuclear reactors with a capacity of 1.4 gigawatts each. Regarding potential sites

PHOTO Hana supports young small business owners

Citi Korea marks 'Global Community Day' with corporate clients

Citi Korea held a volunteer activity with employees from key corporate clients at its headquarters in Seoul, Thursday, in celebration of "Global Community Day," the company said Friday. Through the creation of an upcycled collaborative artwork and art supply kits, the activity demonstrated a sustainable community engagement model that contributes to environmental protection and local community development. The event was made even more meaningful with the participation of employees from 14 major global companies that have grown alongside Citi over many years. These companies, which operate across diverse markets around the world, joined Citi Korea not only as financial partners but also as collaborators committed to fulfilling their social responsibilities and creating positive impact in the communities where they operate. Participants created a collaborative artwork on paper canvases made from discarded cardboard collected by older adults and assembled art supply kits. In particular, the activity carried special significance as it established a “resource circulation” model that suppo

Shinhan Securities hosts George Washington University Korean studies delegation

Shinhan Securities hosted a student delegation from George Washington University's Institute for Korean Studies, as part of an overseas study program aimed at deepening understanding of Korea’s capital markets and financial industry, the company said Sunday. The delegation visited Shinhan Securities’ headquarters in Seoul's financial district of Yeouido, Friday, during the university’s summer study abroad program, organized under the theme “Korea in the 21st Century: Past, Present, and Future in the Age of Globalization.” The program, running through May 30, includes 12 participants, including students majoring in Korean studies and faculty members interested in Korean society and economy. During the visit, participants attended lectures and briefings on the structure and characteristics of Korea’s capital markets, trends in digital financial innovation and the outlook for future growth industries including K-content, semiconductors and artificial intelligence. The delegation also met with Shinhan Securities employees for a question-and-answer session on the country’s finan

‘K-shaped’ rally leaves many investors behind

The ongoing stock market rally is supposed to be a source of excitement for investors. But for an office worker in his 50s surnamed Kim, the recent surge in stocks has brought more frustration than joy. The reason is very simple. He does not own shares in Samsung Electronics, SK hynix or other large-cap leaders that have powered the market in recent months. Instead, his portfolio is filled with small-cap stocks that have failed to participate in the bull market run. A bigger problem is that he is still clinging on to his holdings, hoping that someday, their prices will rise. But unfortunately, we all know such rebound never comes. “I could buy the leading stocks even now because I have cash,” Kim said. “But I’m afraid I would be buying at the top. I’d rather wait for a correction, even though I know the rally may not end soon.” He is one of hundreds of thousands of individual investors who have been sidelined by a “K-shaped” rally, in which a small group of dominant companies surge while the majority of stocks lag behind. The benchmark KOSPI index has been on a record-bre

Procurement agency supports resource recovery firms

The Public Procurement Service (PPS) is supporting nationwide efforts to develop resource recovery technologies to help secure a stable supply of raw materials, the state-run procurement agency said Friday. PPS Administrator Baek Seung-bo visited City Oil Field in Jeongeup, North Jeolla Province, Thursday, a company that specializes in producing petrochemical feedstock by decomposing waste plastics, to explore ways to expand sales channels and secure stable raw materials through public procurement. The visit was aimed at strengthening domestic alternative supply chains through waste resource recycling and supporting stable market access for innovative enterprises, especially as geopolitical instability in the Middle East increases the price volatility of imported raw materials. City Oil Field’s plant uses low-temperature pyrolysis to regenerate naphtha and refined oil from waste plastics. By reducing import dependency, the facility enhances production stability and eases the cost burdens for businesses amid global supply disruptions. PPS plans to provide active support to ensure that t

Mirae Asset Securities wins Hong Kong license to offer retail digital asset trading

Mirae Asset Securities' Hong Kong unit has received final approval from the Securities and Futures Commission to offer digital asset trading services to retail investors, the company said Wednesday, becoming the first Korean brokerage to secure such a license in the city state. The company said it will launch a mobile trading system in June to provide individual investors in Hong Kong with access to digital asset trading, alongside traditional investments such as stocks and bonds. The platform will also allow Hong Kong-based clients to invest in Korean equities. The move marks a significant step beyond a simple service expansion as Mirae Asset Securities aims to transform its mobile platform into a one-stop retail investment hub, integrating both traditional and digital assets. Securing regulatory approval in Hong Kong is expected to serve as a springboard for expanding its digital asset business. The company also said it plans to extend its digital asset operations to major global markets, including Singapore and the United States, as part of its broader strategy to strengthen its platf

Yakuza member arrested for smuggling 636 kg of marijuana into South Korea

An ethnic Korean member of a Japan-based yakuza syndicate has been arrested and indicted for smuggling into South Korea about 636 kilograms of marijuana — enough for roughly 1.27 million people to smoke at once, law enforcement authorities said Friday. The amount seized is the largest ever among narcotics imported for domestic distribution, officials said. The pan-government joint investigation unit on drug crimes said it detained and indicted the 53-year-old suspect, a member of the yakuza group, on charges of violating the Narcotics Control Act. Authorities have also identified four Vietnamese nationals who allegedly sold the drugs to the suspect, sought arrest warrants for them and plan to request Interpol red notices. The individual is accused of loading the marijuana into a shipping container departing from Thailand in early March and arranging for it to arrive at Incheon Port on March 23. Investigators said he conspired with a drug trafficking organization based in Ho Chi Minh City, Vietnam, intending to distribute part of the marijuana in South Korea through Vietnamese networks a

Will Seoul apartment prices fall after president’s social media blitz?

President Lee Jae Myung has turned to social media to denounce people who own multiple homes, calling them the main culprits behind soaring apartment prices and deepening supply shortages in Seoul and nearby areas. On Jan. 23, Lee declared a war on multi-home owners by posting a message on X, formerly Twitter, saying that the government will end the temporary suspension of heavy capital gains tax on them. As a result, people owning more than one house will face up to an 82.5 percent capital gains tax on houses sold after May 9. After multi-home owners, Lee went after those who hold a single house but do not reside in it, threatening to impose heavier property holding taxes. He also targeted registered landlords who rent homes below market rates in exchange for tax benefits, instructing his Cabinet to curb loan extensions for multi-home owners. The series of posts urging homeowners to sell caught many off guard, as Lee, a former governor of Gyeonggi Province, had previously said that tax policy should be used only as a last resort. During last year’s presidential campaign, he pledged