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Korea Herald
11-07-2025
- Business
- Korea Herald
Samyang's hot streak: Global Buldak craze sends stock to record high
Shares of Samyang Foods topped the 1.5 million won ($1,090) mark, rising nearly 50 percent in just two months, as investors bet on the enduring global popularity of its hot chicken noodles, Buldak. On Thursday, the stock hit an intraday high of 1,502,000 won before closing at 1,494,000 won on the benchmark Kospi. It opened at 1,503,000 won on Friday and briefly notched a new all-time high of 1,535,000 won. As of 11 a.m. Friday, shares had eased to 1,470,000 won. The rally extends a blistering run for Samyang, which passed the 1 million won mark on May 12, a milestone that places the food maker alongside Samsung Biologics as a company with seven-figure share prices. Analysts credit the surge to expectations of strong quarterly earnings and increased production capacity. "The company's new facility will drive earnings growth as Buldak production scales up exports to the US and Europe from the third quarter," an analyst from Korea Investment & Securities noted. Sales growth was limited in the first quarter due to supply constraints in the US and Europe, the analyst added, suggesting a sharp pickup ahead. In June, Samyang's new plant in Miryang, South Gyeongsang Province, came online to supply the US and European markets. The noodle maker currently produces all of its products in Korea but is building its first overseas plant in China, slated for completion in 2027. A Kyobo Securities analyst also offered an upbeat outlook: 'Given Samyang's strong global recognition, there appears to be ample room for further upward revisions in its valuation.' Last year, Samyang's annual sales rose 45 percent to 1.73 trillion won, with operating profit soaring 133 percent to 344.2 billion won. Overseas sales reached a record 1.33 trillion won, making up nearly 80 percent of total revenue. In the US, sales doubled to $280 million; sales in China surged 75 percent to $290 million. According to financial information provider FN Guide, Samyang Foods' operating profit for the first half of this year is projected to jump 55.4 percent on-year to 263.5 billion won, with revenue projected to rise 32.2 percent to 1.07 trillion won.
Korea Herald
25-06-2025
- Business
- Korea Herald
Seoul shares open lower despite overnight Wall Street gains
South Korean stocks opened slightly lower Wednesday despite overnight US stocks gains boosted by eased Middle Eastern tensions and hopes of an early interest rate cut. The benchmark Korea Composite Stock Price Index shed 1.31 points, or 0.04 percent, to 3,102.33 in the first 15 minutes of trading. Overnight, Wall Street gained ground as investors focused on easing tensions in the Middle East following the ceasefire between Israel and Iran, and the possibility of an early interest rate cut raised by US Federal Reserve Chair Jerome Powell during a testimony at the U.S Congress. In Seoul, overall losses were led by bio and battery shares. Top bio company Samsung Biologics fell 1 percent, and leading battery manufacturer LG Energy Solution lost 1.5 percent. Financial and internet portal shares also retreated. Kookmin Financial dropped 2.14 percent, and top portal operator Naver slumped 3.1 percent. In contrast, semiconductor shares continued their upward momentum from the previous session. Market heavyweight Samsung Electronics and chip rival SK hynix rose 0.5 percent and 2.69 percent, respectively. Kakao Pay also surged 14.18 percent on hopes that the online lender could benefit from the government's push to adopt won-pegged stablecoins. The local currency was trading at 1,357.25 won against the greenback at 9:15 a.m., up 2.95 won from the previous session. (Yonhap)
Korea Herald
24-06-2025
- Business
- Korea Herald
Kospi soars over 3,100 amid waning geopolitical fears
Chip stocks rally, with SK hynix market cap topping W200tr for first time South Korea's benchmark stock index soared past 3,100 points to a new yearly high Tuesday, amid easing fears over conflict in the Middle East. The Korean won also strengthened against the US dollar. Following US President Donald Trump's announcement that Iran and Israel had agreed to a ceasefire, the Kospi posted solid gains, surpassing the 3,100-point threshold for the first time since September 2021. The index closed at 3,103.64, up 89.17 points or 2.96 percent from the previous session. The Kospi opened at 3,061.14, tracking overnight gains on Wall Street. Although it briefly dipped, the index soon regained strength, hitting the 3,100 mark at around 12:20 p.m. With the market buoyant, the Kospi hit as high as 3,105.04 during intraday trading. Offshore investors were net buyers of Kospi shares worth 431.8 billion won ($315 million), while institutional investors bought 259.3 billion won. Retail investors were the sole net sellers, offloading 638.4 billion won worth of stocks to lock in profits. The Kospi has maintained a near-uninterrupted rally since June 2, driven by renewed foreign inflows and pro-growth optimism that have buoyed investor sentiment across the board. Blue-chip stocks surged during intraday trading. Tech giant Samsung Electronics rose 4.31 percent, while chipmaking rival SK hynix jumped 7.32 percent. SK hynix's market cap climbed to a record high of 202.74 trillion won as of closing, surpassing the 200 trillion won mark for the first time — a nearly 80 trillion won increase from 126.6 trillion won in late 2023. Bio stocks also performed well, with Samsung Biologics up 1.21 percent and Celltrion gaining 1.38 percent. Leading battery maker LG Energy Solution advanced 2.21 percent, while KB Financial Group jumped 4.37 percent. Amid the bullish momentum, the secondary Kosdaq index also surpassed the 800-point threshold, reaching as high as 801.34 during intraday trading. It was the first time the tech-heavy index crossed the 800 mark since August 2024. It eventually wrapped up trading at 800.93. 'The uncertainty triggered by the Middle East tensions has eased in the stock market,' said Kiwoom Securities analyst Han Ji-young. 'From a supply-demand perspective, a key factor going forward will be whether foreign investors, who have driven the Kospi rally with net purchases of nearly 5 trillion won since June, begin to take profits.' As demand for the safe-haven dollar subsided, the Korean won gained ground. The won was quoted at 1360.2 per dollar as of daytime trading closing, appreciating by 24.1 won from the previous session. It was the sharpest gain of the won per dollar since the 25.7 won gain on May 15. The rebound comes only a day after the won had weakened to the 1,380 level against the dollar on Monday as investors sought safe-haven assets amid geopolitical risks. The US dollar index, a key gauge of the greenback's strength, also retreated to the mid-97 range after hitting the early-99 level, reversing much of the previous risk-off sentiment and returning to levels seen a week earlier, before Israel-Iran tensions began to escalate.
Korea Herald
24-06-2025
- Business
- Korea Herald
Kospi soars to 2025 high amid waning geopolitical fears
Chip stocks rally, with SK hynix market cap topping W200tr for first time South Korea's benchmark stock index soared Tuesday, reaching a new yearly high during intraday trading, as the market breathed a sigh of relief amid easing fears of an immediate escalation in Middle East tensions. The Korean won also strengthened against the US dollar. Following US President Donald Trump's announcement that Iran and Israel had agreed to a ceasefire, the Kospi posted solid gains, surpassing the 3,100-point threshold for the first time in over 3 1/2 years, since September 2021. As of 2 p.m., the index stood at 3,095.94, up 81.47 points, or 2.7 percent, from the previous session. The Kospi opened at 3,061.14, tracking overnight gains on Wall Street. Although it briefly dipped, the index soon regained strength, hitting the 3,100 mark at around 12:20 p.m. and hovering around that level as of press time. As of 2 p.m., offshore investors were net buyers of Kospi shares worth 335.1 billion won ($245.7 million), while institutional investors bought 250.9 billion won. Retail investors were the sole net sellers, offloading 546 billion won worth of stocks to lock in profits. The Kospi has maintained a near-uninterrupted rally since June 2, driven by renewed foreign inflows and pro-growth optimism that have buoyed investor sentiment across the board. Blue-chip stocks surged during intraday trading. Tech giant Samsung Electronics rose 3.62 percent, while chipmaking rival SK hynix jumped 7.13 percent as of 2 p.m. SK hynix's market cap climbed to a record high of 203.11 trillion won, surpassing the 200 trillion won mark for the first time — an 80 trillion won increase from 126.6 trillion won in late 2023. Bio stocks also performed well, with Samsung Biologics up 0.81 percent and Celltrion gaining 1.87 percent. Leading battery maker LG Energy Solution advanced 0.81 percent, while KB Financial Group jumped 3.81 percent. Amid the bullish momentum, the secondary Kosdaq index also surpassed the 800-point threshold, reaching as high as 801.25 during intraday trading. It was the first time the tech-heavy index hit the milestone in 11 months, since August 2024. 'The uncertainty triggered by the Middle East tensions has eased in the stock market,' said Kiwoom Securities analyst Han Ji-young. 'From a supply-demand perspective, a key factor going forward will be whether foreign investors, who have driven the Kospi rally with net purchases of nearly 5 trillion won since June, begin to take profits.' As demand for the safe-haven dollar subsided, the Korean won gained ground. The won was quoted at 1,364.34 per dollar as of 2 p.m., appreciating more than 17 won from the previous after-hours session's close. On Monday, the won had weakened to the 1,380 level against the dollar, as investors sought safe-haven assets amid geopolitical risks. The won opened Tuesday at 1,369 per dollar and continued to trade around that level through the afternoon. The US dollar index, a key gauge of the greenback's strength, also retreated to the mid-97 range, reversing much of the previous risk-off sentiment and returning to levels seen a week earlier, before Israel-Iran tensions began to escalate.
Korea Herald
24-06-2025
- Business
- Korea Herald
Seoul shares open 2% higher amid Israel-Iran ceasefire
South Korean stocks opened 2 percent higher Tuesday over eased regional tensions in the Middle East after US President Donald Trump announced that Israel and Iran have agreed on a ceasefire to end their conflict. The benchmark Korea Composite Stock Price Index jumped 60.32 points, or 2 percent, to 3,074.79 in the first 15 minutes of trading. Trump made the announcement after Iran fired short- and medium-range ballistic missiles at Al Udeid Air Base in Qatar -- the largest US military installation in the Middle East -- in response to America's attack on three key nuclear sites in Iran over the weekend. The president said that without the ceasefire, the war could have gone on for years and destroyed the entire region. Most blue chips benefited from the announcement, with market heavyweight Samsung Electronics rising 3.53 percent and chip rival SK hynix soaring 5.97 percent. Top bio company Samsung Biologics gained 1.01 percent, and leading battery manufacturer LG Energy Solution climbed 2.89 percent. Top automaker Hyundai Motor added 2.23 percent. In contrast, refiners and internet portal operators retreated. Leading refiner SK Innovation plummeted 3.02 percent, and top internet portal firm Naver fell 1.9 percent. The local currency was trading at 1,366.55 won against the greenback at 9:15 a.m., up sharply by 17.75 won from the previous session. (Yonhap)
