Korean retail investors have been paying up for SK hynix American depositary receipts in New York, pushing the ADRs to a 16%–51% premium over the chipmaker’s Seoul-listed shares since trading began on Nasdaq about two weeks ago. The gap has widened even as the Korean stock has fallen from a June 25 record of 2,987,000 won to the 1,700,000-won range, while the ADRs climbed as high as $193.92. Net buying by Korean investors reached $675.5 million, their second-largest overseas securities purchase over the past month, according to SEIBro. Analysts say short-term trading preferences—despite less favorable tax treatment and limits on conversions—have helped sustain the premium and higher volatility.

Hyundai Motor said its operating profit fell 20.8% year on year in 2024 Q2 to 2.85 trillion won ($1.94 billion), while revenue rose 1.9% to 49.2 trillion won. The decline was driven by softer global vehicle demand and supply-chain disruptions after a March fire at a key auto parts supplier, which constrained output during the quarter. The company said it expects earnings to recover in the second half, helped by launches including the facelifted Grandeur, redesigned Elantra and Tucson, and the IONIQ 3 in Europe.

South Korea’s KOSPI surged 3.05% at the open on Thursday, as Alphabet’s stronger-than-expected AI-driven cloud results and higher capex outlook reinforced expectations for faster global AI infrastructure spending. Tech heavyweights including Samsung Electronics and SK hynix led the gains. Oil prices rose as Middle East tensions escalated after the United States carried out its 12th strike on Iran, but the tech-led market theme in Seoul remained intact. The won strengthened by 4.2 won against the dollar.

Samsung Electronics plans to begin operations at the first semiconductor fabrication plant in its Yongin chip cluster in 2029, bringing the start date forward by one to two years. The move is tied to the government’s faster development of the Yongin National Industrial Complex, which is intended to become the company’s next-generation semiconductor manufacturing hub, according to industry sources. Samsung has said it plans to invest 2,030 trillion won ($1.35 trillion) in its Pyeongtaek and Yongin semiconductor clusters and 400 trillion won to build two new chip plants in Gwangju.

South Korea’s Financial Supervisory Service (FSS) warned that heavy concentration of household financial assets in leveraged stock investments could seriously damage household financial health. FSS Governor Lee Chanjin urged financial institutions to strengthen risk management and take preemptive steps when needed. Industry data show that between May 27 and June 22, retail investors were net buyers of 8.9 trillion won ($5.8 billion) in leveraged ETFs tracking single heavyweight stocks. The warning comes as the KOSPI has risen this year on a global boom in spending on artificial intelligence data centers, even as volatility has increased.