South Korean regulators introduce tokenized securities roadmap
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Nomura Securities: Market concerns about "overcapacity" may be excessive; South Korean chip investment is unlikely to quickly translate into production capacity.
According to Mars Finance, Nomura Securities analysts stated in a recent report that market concerns about "computing power oversupply" may be excessive, and the memory chip industry still has a long way to go before entering a downward cycle. The market is currently facing a severe shortage driven by artificial intelligence demand, with major chip manufacturers prioritizing the production of more profitable high-bandwidth memory (HBM), leading to limited supply of ordinary DRAM and NAND. Nomura analysts emphasized that in this context, concerns about oversupply are excessive. Because the semiconductor industry's construction and development cycles are often very long, projects announced by South Korean chip giants are unlikely to have a substantial impact on supply for several years. (Cailian Press)
South Korean regulators are reviewing whether Polymarket constitutes illegal gambling, giving it an opportunity to respond before making a decision.
PANews reported on July 6 that, according to The Block, South Korea's media regulator will give Polymarket an opportunity to respond before deciding whether to take corrective action against its prediction market platform. The regulator is reviewing whether Polymarket's services constitute illegal gambling activities prohibited by South Korean law.
South Korean stocks plunge 20%, nearing a bear market; the AI boom faces the awkward situation of "the more disastrous the earnings, the steeper the decline."
According to BlockBeats, on Wednesday afternoon, July 8th, South Korean stocks extended their losses as investors reassessed the outlook for AI demand. The KOSPI index fell by more than 6% at one point, breaking below 7200 points, and has cumulatively fallen by more than 20% from its all-time high last month, poised to enter technical bear market territory. Memory chip maker SK Hynix fell by as much as 5%, and Samsung Electronics fell by 6.9%. The Korea Exchange initiated a temporary trading halt on the KOSPI index, suspending algorithmic trading. South Korean stocks were among the strongest performing markets globally this year, but their performance is highly dependent on SK Hynix and Samsung Electronics, amplifying volatility when sector sentiment weakens. Even with Samsung Electronics announcing a 19-fold surge in quarterly profits earlier this week, chip stocks continued to be under pressure. Jordan Klein, a TMT sector expert at Mizuho Securities, stated that investors overreacted to Samsung's preliminary second-quarter results. He believes this sell-off in semiconductor stocks is more a sign of waning momentum than a deterioration in fundamentals. Klein stated that excluding one-off bonus expenses, Samsung's operating profit actually significantly exceeded expectations, with its storage business implied operating margin potentially exceeding 80%. He indicated that Samsung's single-quarter operating profit has already surpassed the total of the past three years, and reacting to Samsung's stock price based solely on preliminary results is "extremely short-sighted." Meanwhile, an AI trading rotation occurred in Asian markets. Hong Kong-listed Chinese stocks rose, with the Hang Seng China Enterprises Index rising as much as 3.4%, the Hang Seng Tech Index rising over 5% intraday, Alibaba rising over 8%, and Tencent rising over 3%. Market analysts believe that funds are flowing from crowded trades focused on AI infrastructure to markets with lower valuations and more value-oriented characteristics. Reuters' report on DeepSeek's self-developed chip and The Information's report on Zhipu AI considering designing its own AI chip further fueled this rotation. (Jinshi)
Rebellions, a South Korean AI chip startup backed by Samsung Electronics, plans to IPO in South Korea next year.
According to reports, Sunghyun Park, CEO of Rebellions, a South Korean AI chip startup backed by Samsung Electronics, stated that the company plans to IPO in South Korea in the first or second quarter of next year. Park said that Rebellions has already begun generating actual revenue, "and for this reason, we are working with the underwriting teams at JPMorgan Chase and Samsung Securities to prepare for the IPO." (Jiemian)
CITIC Securities: South Korea is expected to become a key player in the era of physical AI.
According to a research report by CITIC Securities, as reported by Mars Finance, physical AI continues to be a hot topic. Essentially, it's a different expression of the concepts of embodied intelligence and robotics. South Korea recently proposed a super project for physical AI, and our recent research on the South Korean robotics industry chain suggests that South Korea has the potential to become a significant player in the physical AI era. South Korea has a strong robotics industry chain, primarily focused on hardware, mainly driven by conglomerates like Hyundai Group. It has initially established a complete industry chain from upstream components to downstream manufacturing of various complete machines. However, it still lags behind China and the US in terms of embodied models and cost reduction capabilities in the supply chain.
Huatai Securities: South Korea's high export growth indicates that global AI supply chain trade is still on an upward trend, and the Asian AI supply chain is expected to continue to benefit.
Mars Finance reported on July 6th that a research report from Huatai Securities pointed out that the continued strong performance of AI chain exports drove South Korea's June exports to significantly exceed expectations, with the trade surplus reaching a new historical high. Looking ahead, leading indicators show that AI chain trade will maintain high growth, and South Korean exports are expected to continue their strong performance, potentially driving South Korea's nominal GDP to maintain a relatively high growth rate. In the short term, the Philadelphia Semiconductor Index, which leads South Korean semiconductor exports by about four months, remains high year-on-year, indicating that the strong performance of South Korean semiconductor exports is likely to continue; at the same time, against the backdrop of strong AI demand, memory prices are still rising, and prices will continue to support nominal exports. The high growth of South Korean exports indicates that global AI chain trade is still on an upward trend, and the AI supply chain in Asia, including South Korea and China, is expected to continue to benefit. (Wide Angle Observation)