KOSPI Slides on Semiconductor Giants' Drop - 조선일보

On July 2, 2026, the KOSPI index fell 2.04%, with semiconductor giants Samsung Electronics and SK Hynix dropping 5.84% and 3.40% respectively, outperforming the broader market decline. This follows th... Read original →

South Korea’s 800 trillion KRW bet on a southwestern semiconductor cluster aims to boost EUV and AI chip capacity but has backfired by exposing systemic overconcentration. Technically, while local equipment and materials supply chains may mature, Samsung and SK Hynix face intensified capex pressure in advanced nodes, diverting resources from critical packaging innovations like HBM and CoWoS. Regulatory scrutiny looms—WTO challenges and Western skepticism toward state-led industrial policy could trigger tighter export controls. TSMC (Taiwan, China) is poised to capitalize by expanding its AI foundry footprint in North America and Japan. Over the next 12–24 months, persistent foreign outflows will make KOSPI hypersensitive to earnings volatility from just two firms, compelling chaebols to adopt global JVs and governance reforms. Franklin Templeton’s shift to selective stock picking signals a new norm: only companies decoupled from nationalistic hype and grounded in real tech monetization will endure.