The Stalled Domestic Stock Market Bus, Why?

This contrasts with the positive trends in the real economy, such as a 17% increase in Q1 GDP and an expected 20%+ growth in Q2.

This resulted from very high growth, with the monthly export growth rate reaching 83%.

Considering Japan's average monthly exports are about $60 billion, Korea's $120 billion in monthly exports is twice that of Japan.

It is projected to surpass the Netherlands to become the world's fourth-largest exporter and will positively impact achieving a national income of $40,000.

Even excluding semiconductors, Korea's exports increased by 23% year-on-year, setting a new record.

Ships, cosmetics, and defense sectors drove growth, contributing to overall export performance improvement.

Petroleum product exports increased by 72% year-on-year, significantly contributing to overall export growth.

U.S. diesel prices reached an all-time high, becoming a major factor in the midterm elections, and the possibility of a U.S. government ban on diesel exports was raised.

Europe, highly dependent on U.S. diesel, fears supply shortages, while domestic petroleum product companies saw strong stock prices due to rising profit margins.

The secondary battery industry showed signs of overcoming its crisis with 14% growth in September.

Expansion of the Energy Storage System (ESS) market and rising mineral prices acted as positive factors, entering a recovery phase alongside the growth of AI-related industries.

Micron achieved record-high performance in the fourth fiscal quarter, showing high profitability with an 87% gross profit margin.

75% of its total volume for up to 2027 has already been allocated to customers, leading to plans for expanded fab construction to meet demand.

This performance can be interpreted as a positive signal for the semiconductor industry as a whole.

Samsung Electronics' Q3 operating profit forecast has been adjusted to approximately ₩105 trillion.

This is a recent downward adjustment from the previous ₩110-130 trillion, with a stronger won and falling exchange rates impacting the earnings outlook.

Analysts project Samsung Electronics' operating profit for next year to be around ₩500 trillion, noting that a single company's quarterly operating profit exceeding ₩100 trillion would be a first in history.

Samsung Electronics is pursuing a strategy to expand the sales proportion of high-bandwidth memory (HBM), a high-margin, high-value product.

It emphasizes the higher profitability of HBM compared to general DRAM, responding to increased demand for AI accelerators and high-spec graphics cards.

This will have a positive impact on the overall national economy and suggests the potential for over ₩150 trillion in corporate tax revenue.

The immense profits of these two companies play a crucial role as growth engines for the Korean economy.

Automobiles, Korea's second-largest export item, saw sluggish export performance due to reduced operating days from summer holidays, strikes, and the Chuseok holiday.

The export ranking of automobiles fell after petroleum products, and in the domestic market, the Tesla Model Y took the top sales spot, expanding imported cars' market share.

These changes reflect a crisis in the domestic automotive industry, indicating the need for responses to intensifying competition and market structure changes.

Tesla's FSD (Full Self-Driving) functionality requires prior safety verification adapted to Korean road conditions and regulations, and attempts to introduce the feature through illegal means are anticipated, posing difficulties for its entry into the domestic market.

Hyundai Motor's stock price fell from the ₩700,000 range to the ₩340,000 range, underperforming compared to KOSPI, with export sluggishness and strikes being temporary factors, in addition to high U.S. interest rates contributing to investor exodus, burdening the stock price.

Chinese vehicle export sales increased by 50% year-on-year to 7.45 million units, showing rapid growth in the global market.

Chinese EVs, priced from under $10,000 to $20,000-$30,000, are rapidly capturing third-world markets, and this price competitiveness is intensifying the sense of crisis among global automakers.

Hyundai Motor Group has opened a robot application center in Georgia, USA, to train Boston Dynamics robots.

Robots are capable of delicate tasks such as drilling with hand movements or handling golf balls, and Hyundai Motor aims to mass-produce 25,000 robots within two years, with investment recovery possible.

Boston Dynamics has accumulated deficits of approximately ₩1.75 trillion over five years and anticipates revenue generation around 2028.

Hyundai Motor's massive investment costs for the Saemangeum data center, smart factories, autonomous driving, and U.S. local plants have highlighted the need for external capital procurement.

Consequently, speculation about Boston Dynamics' IPO has arisen, but an IPO within 2027 seems unlikely. Considering the stock price decline of competitor Unitree in China, Boston Dynamics' IPO timing is expected to be determined after revenue generation.