Alteogen Favored as Moderna Surges; SK hynix Announces 40 Trillion Won Share Cancellation

In particular, Moderna's stock nearly tripled overnight, having a positive effect across the U.S. biotech market. Against this backdrop, Alteogen is emerging as a key beneficiary of the mRNA cancer vaccine market, and growth driven by actual market expansion rather than theme-driven trading is expected. Attention is also likely to converge on U.S. big tech companies' interest in the mRNA market itself.

This amounts to 3.3% of issued shares and is expected to be recorded as the largest treasury share cancellation ever by a domestic listed company. Memory chip makers such as Samsung Electronics and SK hynix have been criticized for being reluctant to announce concrete shareholder return policies despite high profits. SK hynix's announcement is seen as showing strong confidence in its mid-to-long-term growth and is likely to lead to a re-rating of the memory industry as a whole.

Foreign investors net-sold roughly 150 trillion won of shares on the KOSPI market in the first half. SK hynix said it will buy back 40 trillion won worth of shares over three months, and buying of more than 1 trillion won has already started from today. This is analyzed as having an effect similar to when SK hynix drew overseas capital through its ADR (American Depositary Receipt) issuance in the past.

This shows a strong determination to substantially expand the scale of shareholder returns. SK hynix's cumulative cash flow through 2027 is expected to reach about 150 trillion won, of which at least 75 trillion won is planned to go to shareholder returns. SK hynix plans to announce specific additional shareholder return policies in October, and some are raising the possibility of a stock split, drawing strong market attention.

Until now, the stock gains of Samsung Electronics and SK hynix have mainly been driven by the memory chip business, but there has been criticism that the value of Samsung's foundry business has not been properly reflected. However, the situation is changing as Samsung announces a price increase strategy for its foundry business. If price hikes are accompanied by yield improvements and higher utilization, the foundry division is expected to turn profitable from next year, emerging as a key factor in Samsung's rebound.

Specifically, the 4-nanometer process will see a 15% increase, and customers in the U.S. and China will face increases between 10% and 15%. The 5-nanometer process will rise by about 10%, and the 8-nanometer process by about 10%. This is seen as part of a strategy to strengthen Samsung's competitiveness in the foundry market and improve profitability.

This is expected to serve as a growth momentum for SK E&S going forward.

Samsung Electronics is expected to focus on share buybacks followed by cancellation rather than dividends, aiming to win a re-rating of its stock. With its shares currently undervalued, share cancellation is more effective at supporting the stock price. Samsung's total shareholder return funding is estimated at about 120 trillion to 140 trillion won, a level far exceeding SK hynix's return scale. Samsung's new shareholder return plan, set to apply from 2027, is drawing attention for its likely large impact on the market.

Next week is being called a 'super week' for the global semiconductor industry, with a concentration of major technology events. On Monday, major chip companies including NVIDIA, AMD, and Intel are scheduled to unveil new products such as Vera Rubin and the MI series. From Tuesday through Thursday, technology conferences will be held, and many companies including Micron and Samsung Electronics are expected to hold technology presentation sessions. Samsung Electronics in particular has previewed its shareholder return measures for the 26th, drawing the market's attention.