"Severe DRAM Supply Shortage... Catalyst for Samsung Electronics and SK Hynix Stock Surge"

On December 10, KB Securities stated that the shortage of DRAM supply is far more severe than the market had anticipated, forecasting a sharp price increase next year. Accordingly, the firm named Samsung Electronics and SK Hynix as its top semiconductor picks for 2026. Kim Dongwon, a researcher at KB Securities, explained, "Currently, in the fourth quarter, the DRAM demand fulfillment rate among clients is only about 60%." He added, "In particular, the demand fulfillment rate for server DRAM remains below 50% in the fourth quarter, indicating that the DRAM market is facing an unprecedented supply shortage." Kim predicted, "Although global DRAM production capacity is expected to increase by 7.7% year-on-year next year, most of this expansion will be focused on HBM, making it insufficient to resolve the shortage of general-purpose DRAM." He further forecasted, "In 2026, the supply growth rate for server DRAM will be only about half of the demand, so the severe supply shortage and steep p

Market Analysis

12.10 08:16

VIG Partners Accelerates Third Fund Liquidation

VIG Partners is accelerating the liquidation process of its third blind fund. Having already achieved strong results through the sale of portfolio companies such as Preedlife, Starvision, and Foodist, the overall fund return is expected to be high. According to the investment banking industry on December 10, VIG has begun the sale process for the remaining portfolio companies in its third fund: Autoplus, PNC Labs, Yooyoung Industrial, and Bonchon International (Bonchon). The third fund was established in 2016 with a size of 700 billion won and is set to mature in September next year. Through this fund, VIG invested in a total of seven companies: Preedlife, Foodist, Starvision, Autoplus, PNC Labs, Yooyoung Industrial, and Bonchon. Of these, Preedlife, Foodist, and Starvision have already been successfully exited. Sale Process for Autoplus, PNC Labs, Yooyoung Industrial, and Bonchon Accelerates First, VIG plans to accelerate the sale of Bonchon as early as the end of this year. BDA Par

Market Analysis

12.10 06:50

Foreigners and Institutions Bet on KOSPI Rally... Individuals Focus on 'KOSDAQ'

As the KOSPI has recovered to the 4,100 level and the KOSDAQ has risen above 930 this month, the stock market appears to be gradually moving out of its correction phase. In this environment, foreign investors and institutional investors are betting on a rise in the KOSPI, while individual investors are focusing on a rise in the KOSDAQ. According to the Korea Exchange on December 10, foreign and institutional investors have been buying KOSPI leveraged exchange-traded funds (ETFs) this month, betting on further gains in the KOSPI. Foreign investors made a net purchase of 15.92 billion KRW in KODEX Leverage, making it their second most purchased ETF. TIGER Leverage (7.92 billion KRW) also ranked high among their net purchases. Leveraged ETFs offer double the returns when the underlying index rises. Institutions also made a net purchase of 349.4 billion KRW in KODEX Leverage, making it their second most purchased ETF as well. In addition, KODEX 200 (138.89 billion KRW) and TIGER 200 (2.16

Market Analysis

12.10 06:50

"Santa Rally Suits KOSDAQ More Than KOSPI... Small- and Mid-Cap Strength to Continue"

Yuanta Securities stated on the 9th, "The so-called 'Santa Rally' phenomenon in December, known as the turn-of-the-month effect, has been found to be more applicable to the KOSDAQ market than to the KOSPI market," adding, "Based on this, the relative strength recovery of small- and mid-cap stocks is expected to continue." Shin Hyun-yong, a researcher at Yuanta Securities, provided this analysis in a report released on this day. Shin interpreted December's Santa Rally as an extension of the turn-of-the-month effect, where liquidity concentrates at the end and beginning of the month, resulting in higher-than-usual returns. He explained, "Since 2000, the KOSPI index's returns during turn-of-the-month periods exceeded the returns for the rest of the month in about 44.4% of cases," and "Looking at monthly data, December also recorded approximately 40.0%, indicating that the Santa Rally appears in the KOSPI market about once every two years." In contrast, for the KOSDAQ market, the overall r

Market Analysis

12.09 08:20

iM Securities: "DL E&C Needs Revaluation of Investment Properties and Equity Holdings"

On December 9, iM Securities analyzed that DL E&C could become a target for activist funds due to the low level of control held by its largest shareholder. After focusing its analysis on DL E&C's cash equivalents, investment properties, inventories, and equity investments in affiliates, iM Securities estimated that the appropriate share price for DL E&C, based on sum-of-the-parts (SOTP) valuation by business segment, is 129,000 won per share. Even when excluding land for long-term unstarted projects, the value is assessed at 105,000 won per share. As of December 8, DL E&C's closing price was only 41,050 won. iM Securities stated, "DL E&C has consistently been undervalued compared to its peer group due to its conservative order-taking stance and inefficient capital allocation. However, we believe that it is possible to recognize some value for its highly liquid investment properties and affiliate equity investments with significant upside potential." As of the third quarter of this year

Market Analysis

12.09 08:16

[Click e-Stock] "NHN KCP Faces Intensifying Competition in the Stablecoin Industry"

On December 8, Kiwoom Securities raised its target price for NHN KCP to 19,000 won and maintained its "Buy" investment rating. The firm cited short-term upside potential for the stock price due to robust quarterly performance. Jingu Kim, an analyst at Kiwoom Securities, explained, "The new target price is based on applying a target PER of 17.5 times to 48 billion won in parent company equity for 2026, with an annual discount rate of 10%. In the short term, there is upside potential due to steady quarterly results. However, from a mid- to long-term perspective, there are variables related to strategic options as competition in the stablecoin industry intensifies." Kim forecast that NHN KCP's total transaction volume will reach 42 trillion won in 2025 and 45.2 trillion won in 2026, representing year-on-year growth of 3% and 5%, respectively. He expects operating profit for 2026 to be 56.9 billion won, up 7% from the previous year, with the operating margin improving by 0.1 percentage poi

Market Analysis

12.08 08:09

[Click e-Stock] "Pulmuone Expected to See Significant Profit and Loss Improvement in 2026"

On December 5, Hana Securities projected that Pulmuone will see a significant improvement in its profit and loss in 2026, driven by a base effect. Hana Securities forecasts Pulmuone’s consolidated sales and operating profit for 2026 to reach 3.526 trillion won and 113.1 billion won, respectively. These figures represent increases of 4.4% and 21.6% compared to the previous year. Shim Eunju, a researcher at Hana Securities, identified “overseas operations” as the main factor behind Pulmuone’s profit and loss improvement. She explained, “The U.S. subsidiary is expected to reduce its deficit as new tofu private brand product supply and B2B noodle product orders are fully reflected in earnings.” She added, “We anticipate the U.S. subsidiary’s deficit will shrink by around 6 billion won year-on-year next year.” Shim also stated, “The Japanese subsidiary will also see the full benefits of consolidating its production bases,” estimating that “the related deficit reduction will be around 3 bill

Market Analysis

12.05 07:59

Newly Listed Stocks Soar Amid Stock Market Boom

As the domestic stock market continues to boom, the share prices of newly listed companies are also soaring. The implementation of the 'Mandatory Holding Commitment Priority Allocation System,' which has reduced the volume of shares available for trading, has also played a role. According to the Korea Exchange on December 5, among the companies listed last month (excluding SPACs, REITs, and spin-offs), there were nine stocks, including Nota, Innotech, and Curiosis. Of these, seven stocks are currently trading above their initial public offering (IPO) prices. According to Eugene Investment & Securities, the closing price return on the first day of trading for the nine stocks listed in November averaged 142.9% compared to their IPO prices. Nota recorded the highest increase, with its IPO price at 9,100 won and its closing price on December 4 reaching 42,500 won, representing a surge of 367.03%. Curiosis followed with a 255.45% increase, and Aromatica with 124.38%. In contrast, The Pinkfo

Market Analysis

12.05 06:50

Nomura Securities: "Semiconductor Supercycle... KOSPI Expected to Reach 5,000 Next Year"

"Severe DRAM Supply Shortage... Catalyst for Samsung Electronics and SK Hynix Stock Surge"

VIG Partners Accelerates Third Fund Liquidation

Foreigners and Institutions Bet on KOSPI Rally... Individuals Focus on 'KOSDAQ'

"Santa Rally Suits KOSDAQ More Than KOSPI... Small- and Mid-Cap Strength to Continue"

iM Securities: "DL E&C Needs Revaluation of Investment Properties and Equity Holdings"

[Click e-Stock] "NHN KCP Faces Intensifying Competition in the Stablecoin Industry"

[Click e-Stock] "Pulmuone Expected to See Significant Profit and Loss Improvement in 2026"

Newly Listed Stocks Soar Amid Stock Market Boom

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